Condo for sale

[Dave 22]

Own this Jomtien condo in your own name

Condo for sale, View Talay 2 B,2nd floor, double unit 82 sq ,Jomtien side.

Quality furniture .beautiful décor, for picture slide show click the link at the bottom.

Tel 038252575 mobile 012529356

http://photos.wanadoo.co.uk/album/2987486

[halfaboy 31]

I went through the slideshow but none of pictures provided info on (asking) price.

[geweis 0]

"furnished condo 82sqm,2nd floor,Jomtien side,3.6 mil baht"

[whitespider 1]

3.6 mill - have you done a mis-type???

[BigDUSA 71]

Once again an owner looking for a "sucker" to over pay.

[Shit_Happens 31]

3.6 mill - have you done a mis-type???

One bedroom condos in VT2 are going from between 3.4M and 3.8M so this price is about average. It is on a low floor but sometimes this is not a bad thing. Its up to personal choice.

[Shilo 371]

2 questions:

 

What is meant by "double unit"... 2 bedrooms?

 

And what is anyones best quess on the monthly rental rate for a simular condo?

 

 

Thanks

[pattysteve 34]

Double unit........most condo buildings are built as units from around 26sq mtrs to

41 and in some cases 50 sq mtrs.therefore a double unit is 2 of these side by side

and will be 1 bedroom 1 living room/kitchen.

 

Rental...........a near guess would be around 20000B per mnth.

[Shit_Happens 31]

Once again an owner looking for a "sucker" to over pay.

Just a side comment here but has anybody read a post by BigDUSA that was not negative ?

[rockinjerry 2]

Yes, read a lot of posts from BigD that were not negative and very informative.

 

Rockin'

[BigDUSA 71]

Just a side comment here but has anybody read a post by BigDUSA that was not negative ?

Check out the hotel section. I'm almost downright giddy in my review on Tropical Bert's new guest house. BTW condo's over priced. Damn there I go again being negative. I can't help myself.

[BrotherJohn 0]

Rental...........a near guess would be around 20000B per mnth.

yes i recently inquired into the price of a 1br very similar to the one in this post in Jomtien Beach and was told 23,000 baht + utilities/housekeeping per month.2 months up front and 1 month security.

Edited May 29, 2006 by BrotherJohn

[winner 0]

When foreigners overpay to start with they think that they can then get a profit by just asking more than they paid! I agree with Big D---way overpriced.

[jambo 0]

I started a thread on Secrets recently asking the question as to whether property prices in general had overheated in Pattaya. Basically I was asking residents whether they thought we might be heading for a crash.

 

Some thought that might well be the case but one of the most interesting comments was that a couple of estate agents had indicated that sales had been dead for the last couple of months.

 

Personally I would think very carefully before buying anything in the immediate future.

Edited May 29, 2006 by jambo

[donny 1]

Yeah, one of the main reasons why I've been in Pattaya so much this year was to check out the property market. One thing that buyers should be aware of is that there seem to be two different sets of prices: those that the agents and websites list, and the far lower prices that properties are actually changing hands for. There are numerous examples where properties are being owner-sold for 2m, with almost identical properties sitting unsold on the agents' books at 4m or whatever. Seriously, rent yourself a vehicle and get out there to see what's actually available direct from the owners.

 

People on the ground, familiar with the current market but without a financial interest in hyping it, repeatedly told me that it is very much a buyer's market and that the prices being suggested by the industry are simply not a reflection of reality.

 

It seems that the agents have collectively decided to pump up the market by creating the impression that prices are far higher than they actually are. While there has been genuine underlying boom, the ridiculous rises you hear about are really just a cleverly engineered scam to rush people into making a decision i.e. "buy now while you can still afford it". Estate agents/realtors are the biggest whores in Pattaya.

 

The big condo developers, with their "Last Few Remaining" prices are also part of this hustle so, if you buy at that price, don't bet on being able get your money back anytime soon.

 

Remember, this isn't Europe, this isn't America, don't fall for the trick of comparing prices. Build quality, long-term maintenance, water availability and legal uncertainties are all added complications here.

 

While buying-to-rent is a fine idea in theory, are there really going to be enough renters? There is a huge glut of property coming onto the market, what happens to the rents when there are more properties than tenants? And is Pattaya itself going to be as much of a draw in 10 years time? Thailand's economy is developing quite rapidly and the supply of cheap sex, Pattaya's main draw, has been affected somewhat by that. Isaan is still dirt poor but rising expectations on the part of the girls, combined with the appreciating Baht have already changed the equation.

 

What happens if a desperate Thaksin decides to play the ultimate nationalist card and cracks down on the farang-oriented sex industry? Or Bush responds to low poll ratings by invading Iran, pushing oil prices to levels that start to seriously impact long-distance travel? The whole Iraq adventure has already made my tickets so far this year more expensive than ever.

 

Even at the rent levels suggested for this property, 20,000b per month, that's 15 years of uninterrupted rent before you've made back your principle. Let's not even get into the fact that 20,000 actually sounds pretty high for a 1-bed VT2 (admittedly, a much nicer building than VT1), especially if you're talking about a long-term renter. I've seen far nicer condos in better locations go for around that price.

 

My guess is that this price, 3.6m, has been set at the agency rather than "real" level - it's a trade off: they know that it probably won't sell but, if a big enough fool happens along, they'll make out like bandits.

[BigDUSA 71]

I met a guy who was going to buy a studio condo and wanted to rent it out. If I remember correctly, I offered him 5 or 6K per month and I'd pay a year in advance. He was shocked at the price I offered. I told him on Soi Bukow (s) I could rent a room for 5K per month and that guys who are interested in long term rentals know about this area. He was not a happy camper when he finished talking to me. Sometimes reality can really suck but that's the rental business for you.

[donny 1]

I met a guy who was going to buy a studio condo and wanted to rent it out. If I remember correctly, I offered him 5 or 6K per month and I'd pay a year in advance. He was shocked at the price I offered. I told him on Soi Bukow (s) I could rent a room for 5K per month and that guys who are interested in long term rentals know about this area. He was not a happy camper when he finished talking to me. Sometimes reality can really suck but that's the rental business for you.

Yeah, for supposedly savvy Western consumers, people are surprisingly naive when it comes to taking property advice from people with a vested interest in hyping the market. Like your guy, the biggest pig-in-a-poke they get fed are inflated rental income estimates that blatantly ignore the seasonal nature of Pattaya.

 

It will be interesting to see what happens over the next year or so because the normal laws of supply and demand are not in effect here; a flood of Western buyers, pumped up by property buying TV shows, easy bank loans and a sense that they missed out on the Western property booms, are all too ready to believe that Western-priced condos will magically pay for themselves with Western-level rental income. How will they react when that doesn't materialize? As I say, it is going to be interesting.

[Gary 4,119]

A little over two years ago you could buy the 32 square meter shells for about 450,000. I looked at them and didn't much like View Talay. Too big and too cold feeling.

[donny 1]

A little over two years ago you could buy the 32 square meter shells for about 450,000.

And, of course, the baht cost a lot less back then.

 

Surely people must realize that the current prices are not sustainable?

[Shit_Happens 31]

Check out the hotel section. I'm almost downright giddy in my review on Tropical Bert's new guest house. BTW condo's over priced. Damn there I go again being negative. I can't help myself.

Well said. I was just having a shitty moment.

[Shit_Happens 31]

I met a guy who was going to buy a studio condo and wanted to rent it out. If I remember correctly, I offered him 5 or 6K per month and I'd pay a year in advance. He was shocked at the price I offered. I told him on Soi Bukow (s) I could rent a room for 5K per month and that guys who are interested in long term rentals know about this area. He was not a happy camper when he finished talking to me. Sometimes reality can really suck but that's the rental business for you.

Depending on the price of the Condo you probably offered him a good deal. I owned a studio in VT2 from 2003 to 2005. I was looking for anything from 10K to 12K a month depending on the length of stay whilst some owners were chasing 15K min. I was asked by a English guy if I would rent it long term so I gave to him for 8K a month. He was happy and I had a tenant for 2 years until I sold it. Made a little profit and the rent in the bank in Thailand paid for my holidays. The 15K ones are probably still empty.

Edited June 2, 2006 by Shit_Happens

[winner 0]

Looking at condos and their pricing I have come upon a few practical things that you should do. First of all never use an agent. They get the listing by telling the owner that they can get him top dollar! Remember that the agent represents the seller--not you. As an example of this, look at the listings from places like Sunbelt Asia and others and they are creating a price market that as someone else indicated is ridiculous. (this goes for buying a business also). Always go direct to the seller to get the best deals. It helps to have a thai friend with you as a translator. I have seen price differences of 40 to 50%. Next, when buying from a falang discount what he paid for it. In most cases he paid too much and is trying to profit from his foolishness. He went through an agent and his comparison since then is to ask other foreigners (who paid too much also) what they paid for theirs. Buy directly from a Thai owner if possible. Next, Only use a lawyer for legal work and hold him to doing it within the framework of the law. No games--it is your money. Avoid lawyers with glitzy ads. They are invariably hustlers. Also, DO NOT buy condos in complexes that are set up to be sold to Falangs at a high market price. The profit margins on these are crazy! They think that we are all stupid. Recently one complex is Bangkok had a special sale on new condos where they were giving the buyer a new Mercedes for buying!!!! If these ever have to be resold to Thai people the original owners will be gutted! Finally, forget thinking in pounds or dollars. It doesn't matter what something would cost in New York or London. You are in Thailand!!!!!!!!

[scorpions 6]

Every day a stupid guy stands up but not me. 3.6 million bath

[Soi7 1]

Just a side comment here but has anybody read a post by BigDUSA that was not negative ?

Yes all the time.

[laffnliv 78]

My personal opinion is that I would buy a condo for personal use, but NOT buy it as an investment. There are already too many vacant condos out there. Find one for personal use....if you are here most of the year. As I stated in another thread, my condo has doubled in value in less than four years. But I don't care. I bought it for personal use. Even if the market bubble bursts, I feel I can get back what I put into it. And that means I will have lived in Pattaya for free!

 

A gambler I ain't!

 

Little Roy