Is it a good time to buy ?

[Parkwahn 61]

It seems due to the £ decline, there are somne very good condo deals I am thinking if the £ gets stronger the condo costs will rise

there are some decent places at good prices, I wonder if its a good time to buy ?

[MeGoDanceNow 4,281]

You know, it very well might be.

 

In many cases condo prices and rents are falling into line -- if you buy a good condo as an investment, you can now expect to make your money back in eight years. This was not the case even a couple of years ago.

 

If you're looking to diversify out of the pound, so much the better.

 

The baht will probably remain strong because the fundamentals of this country are right. Also, there is some sign of a bubble in farmland prices forming worldwide, and if that's the case condo prices will probably be supported as well.

 

That's my opinion, worth every penny you paid for it.

[Parkwahn 61]

You know, it very well might be.

 

In many cases condo prices and rents are falling into line -- if you buy a good condo as an investment, you can now expect to make your money back in eight years. This was not the case even a couple of years ago.

 

If you're looking to diversify out of the pound, so much the better.

 

The baht will probably remain strong because the fundamentals of this country are right. Also, there is some sign of a bubble in farmland prices forming worldwide, and if that's the case condo prices will probably be supported as well.

 

That's my opinion, worth every penny you paid for it.

 

 

I have been researching here and decent ones are still holding their price as you say if the £ falls to 40 its an ongoing hedge, I will do some more footwork tomorrow

key seems to be location and whethere a farang condo, Northshore looks very nice indeed.

[js007 795]

Why would a falling pound lead to good deals on condos? British owners having to sell?

 

I can see buying a condo now rather than later, if your home currency is headed down. Otherwise, prices still seem pretty high to me. Or, maybe it's just the asking prices that seem high.

[Parkwahn 61]

Why would a falling pound lead to good deals on condos? British owners having to sell?

 

I can see buying a condo now rather than later, if your home currency is headed down. Otherwise, prices still seem pretty high to me. Or, maybe it's just the asking prices that seem high.

 

 

Condos have reduced in price due to the £ being weaker they were priced at 70 to the £ as it were, prices are down by 30% in some areas.

[jacko 8,762]

Condos have reduced in price due to the £ being weaker they were priced at 70 to the £ as it were, prices are down by 30% in some areas.

You need to explain this better....

I am unable to grasp what the exchange rate £/baht has got to do with the price of a Pattaya condo (which are always priced in baht).

Suredly condos now appear more expensive to British people!

 

The condos are not purely built for a British market...... agreed that the baht's strength will likely have slowed the market down and sellers are reducing baht prices to move them....

But someone whose worth is based in £ sterling will find them more expensive now.....or do you believe prices in baht terms have fallen over 30% ie more than the £/baht fall?

[The_Fat_Controller 25]

Very few sellers in Thailand drop their prices, especially the Thais.

 

The only "deal" you are likely to get is when someone absolutely has to return to his country of origin due to ill health.

 

If you do buy, check the condo is within the foreign quota, in the good old days when the £ was worth 70+ Baht, many people used the "company" route.

 

Check the status with the Juristic Person, they are obliged to tell you and do not listen to the estate agent's bullshit.

 

If you do not know what a Juristic Person is, then you are NOT ready to get into the condo market.

[Parkwahn 61]

You need to explain this better....

I am unable to grasp what the exchange rate £/baht has got to do with the price of a Pattaya condo (which are always priced in baht).

Suredly condos now appear more expensive to British people!

 

The condos are not purely built for a British market...... agreed that the baht's strength will likely have slowed the market down and sellers are reducing baht prices to move them....

But someone whose worth is based in £ sterling will find them more expensive now.....or do you believe prices in baht terms have fallen over 30% ie more than the £/baht fall?

 

 

Ok I will try to explain, a UK guy has bought a place for 3 million say, at 70 or 75 to the pound, the condo would have gone from say 3 million to 4 million in 5 or 6 years maybe more, however prices are down 30% he can afford to sell at 47 at less than the original price in £ and still show a profit.

 

If people are not buying due to exchgange rates where property has risen inline with currency, there has been a correction in prices as the baht has got stronger, I think its a good time to buy but its just my view.

[chris2004 67]

Condo prices SEEM to have fallen but i think that is only because they are building smaller condos 32 sqm etc. The price per sq m has remained roughly the same so condos are much more expensive to British buyers. For example i bought mine in 2006 for 34,000 baht a sq m, 3.4 million in total. They are offering new condos at 1.5 m now but they are say 45 sq m still 33,000 a sq m.

 

If you are thinking of coming to live here though maybe you should buy now before the Pound drops further.

[Parkwahn 61]

Condo prices SEEM to have fallen but i think that is only because they are building smaller condos 32 sqm etc. The price per sq m has remained roughly the same so condos are much more expensive to British buyers. For example i bought mine in 2006 for 34,000 baht a sq m, 3.4 million in total. They are offering new condos at 1.5 m now but they are say 45 sq m still 33,000 a sq m.

 

If you are thinking of coming to live here though maybe you should buy now before the Pound drops further.

 

 

Chris, prices have dropped from their peak in some places 30% others have dropped 5%, I agree buying if you intened to stay it gives you a hedge againts currency fluctuations on any rental place.

 

As most of the farang owned places dont have a debt and if you lock and leave you pay peanuts people can wait, I must say paying 20-25k rent each month I dont find appealing, rent is dead money as to what happens when you buy will only be found out in the fullness of time.

 

I know a guy bought in Markland for 1.4 mill 10 years ago, he could sell it tomorrow for 4 million and would be paying 20k rent he has done well,

 

Where is your place ?

[som nam na 0]

Ok I will try to explain, a UK guy has bought a place for 3 million say, at 70 or 75 to the pound, the condo would have gone from say 3 million to 4 million in 5 or 6 years maybe more, however prices are down 30% he can afford to sell at 47 at less than the original price in £ and still show a profit.

 

If people are not buying due to exchange rates where property has risen in-line with currency, there has been a correction in prices as the baht has got stronger, I think its a good time to buy but its just my view.

 

Or for a THB 2,500,000 condo bought in 2003 at THB 67 to the 1 GBP the GBP cost would have been

 

THB 2,500,000 / THB 67 = GBP 37,313

 

At todays exchange rate of THB 47 = 1 GBP the owner would only need to sell for

 

THB 1,753,741 / THB 47 = GBP 37,313

 

This is a drop of THB 746,268 or a drop of 30% against the original THB 2,500,000

 

This only works if the guy is selling up and transferring the funds back to UK.

 

Not all Condo buyers and sellers are from the UK and not all are sending the money back to the UK but surely the exchange rate drop will have some impact on the market in Pattaya, if not the full 30%.

Edited November 8, 2010 by som nam na

[Parkwahn 61]

Or for a THB 2,500,000 condo bought in 2003 at THB 67 to the 1 GBP the GBP cost would have been

 

THB 2,500,000 / THB 67 = GBP 37,313

 

At todays exchange rate of THB 47 = 1 GBP the owner would only need to sell for

 

THB 1,753,741 / THB 47 = GBP 37,313

 

This is a drop of THB 746,268 or a drop of 30% against the original THB 2,500,000

 

This only works if the guy is selling up and transferring the funds back to UK.

 

Not all Condo buyers and sellers are from the UK and not all are sending the money back to the UK but surely the exchange rate drop will have some impact on the market in Pattaya, if not the full 30%.

 

 

Thats what I was trying to get over, there is an opportunuty for a seller and a buyer if the guy is looling to move money to the UK a UK could drop 20% and still take a profit.

 

For sure not are all from UK , a Danish guy could not drop 30% he would be losing, any currency on its ass gives the vendor a chance to get out if he wanted.

 

I guess a UK guy who bought 5 years could take a 20% hit and make a buck where a Danish lad could not

[Idefix 2,275]

Condos have reduced in price [...]

I wonder if its a good time to buy ?

- If you already transfered your money in Thailand when the £ was at 70; maybe.

- If you have to transfer now money from UK; certainly not.

 

BTW I don't know where you see that condos have reduced in price. ??

Looks like price nearly not moved these last 2-3 years.

Nobody want lower his price for sell, but for rent yes prices gone down.

 

PS: With your logic, every British should be very happy

because price of ladies and fun in Pattaya is now 30% cheaper ... ...

at the condition they transfered their money here 4 years ago when the pound was 70...

[Parkwahn 61]

- If you already transfered your money in Thailand when the £ was at 70; maybe.

- If you have to transfer now money from UK; certainly not.

 

BTW I don't know where you see that condos have reduced in price. ??

Looks like price nearly not moved these last 2-3 years.

Nobody want lower his price for sell, but for rent yes prices gone down.

 

PS: With your logic, every British should be very happy

because price of ladies and fun in Pattaya is now 30% cheaper ... ...

at the condition they transfered their money here 4 years ago when the pound was 70...

 

 

I have seen many reduced in price since last year, a guy paid 3.3 million for one the next door one same spec is no up for 2.7 mill...

 

Why do you say not ? if the baht goes to 40 do you not think 48 is a good deal ?

[Idefix 2,275]

I have seen many reduced in price since last year,

a guy paid 3.3 million for one the next door one same spec is no up for 2.7 mill...

Ok, but here another example:

In my condo was a sea view apartment for sale for more than 2 years that I am here.

The owner was asking for a rather high price and refused any price negotiation.

Last most someone bought this condo... at this higher asking price...!

Did you talk of reduced prices ?

[Bazle 1,448]

You have to factor in how much Russian money is feeding into the property market.

 

I have just bought a condo, and received an email about a meeting a couple of days ago. I think about a third to a half of the email recipients had Russian email addresses.

[spike 236]

Condos have reduced in price due to the £ being weaker they were priced at 70 to the £ as it were, prices are down by 30% in some areas.

 

then why are you asking others if the time to buy is right ...seems you have it all sussed already.

[Bazle 1,448]

then why are you asking others if the time to buy is right ...seems you have it all sussed already.

It is someone banned from PL who is suddenly flooding this board with posts.

[Parkwahn 61]

It is someone banned from PL who is suddenly flooding this board with posts.

 

 

Not sure who is banned I am not, willing to bet what ever you want meet up and collect the money

 

Never lat a fact get in the way of an argument

[sailingbill 1,001]

I have been following prices at several condo projects for a couple of years and see no drop in prices.

Im looking at a specific unit owned buy a BM. With the dollar tanking, this unit would have cost 48,000usd 2 years ago, now closer to 57,000.

Rentals are effected proportionality but seem more attractive now in base dollar amounts.Saw a corner seaview studio in Kieng Talay for about $470usd/month. Plenty of studio seaview units under 15,000 Baht.

Buying is attractive to me for other than financial reasons.But for tax/ age withdrawal reasons i won't do anything to the end of next year. Hoping the dollar recovers but doesn't seem likley in the short term.

[MeGoDanceNow 4,281]

I have been following prices at several condo projects for a couple of years and see no drop in prices.

Im looking at a specific unit owned buy a BM. With the dollar tanking, this unit would have cost 48,000usd 2 years ago, now closer to 57,000.

Rentals are effected proportionality but seem more attractive now in base dollar amounts.Saw a corner seaview studio in Kieng Talay for about $470usd/month. Plenty of studio seaview units under 15,000 Baht.

Buying is attractive to me for other than financial reasons.But for tax/ age withdrawal reasons i won't do anything to the end of next year. Hoping the dollar recovers but doesn't seem likley in the short term.

 

 

The dollar is toast. Put your money in anything else, while you can.

[neil324 0]

The dollar is toast. Put your money in anything else, while you can.

 

Same was being said about the Euro when it bounced off 1.16. All the talk of sub parity etc.

[sailingbill 1,001]

"The dollar is toast. Put your money in anything else, while you can"

 

I tend to agree on the st but i'm a bit of a contraian. Was told by those who thought they are in the know to run from the US/INT stock market last year. My ytd return is 28%. I know shit about the currency market and my dollars are stuck in tax advantaged accounts that i cannot move. So if your right , im fucked. Will revisit this next November and we'll see. I really dont like renting.

[js007 795]

"The dollar is toast. Put your money in anything else, while you can"

 

I tend to agree on the st but i'm a bit of a contraian. Was told by those who thought they are in the know to run from the US/INT stock market last year. My ytd return is 28%. I know shit about the currency market and my dollars are stuck in tax advantaged accounts that i cannot move. So if your right , im fucked. Will revisit this next November and we'll see. I really dont like renting.

 

Yesterday, I read an article by some guy who was of the opinion that the dollar was in a longer term uptrend. Today, I read that the dollar may again benefit from renewed problems with the PIIGS. Ireland, in particular. So, who knows? I wouldn't bet heavily against the dollar right now. Too many people are of the mindset that the dollar is toast.

[Parkwahn 61]

Thong is if you buy now a decent gaff, you are saving £500 a month evey month in rent ?

 

Sure you are lumping in some capital, but with rent you know you are toast !!!!