Investing in Pattaya Real estate?

[Guest Arhsub]

I just want to ask the experienced peoples about the Pattaya Real estate. I'm wondering to invest in Pattaya real estate, is this will be profitable in Pattaya?

[marleyboy 140]

Have a search through the forum. You can then decide if it will be "profitable" a little more.

[Grandpollo 366]

I would not use "investing" and "Pattaya real estate" in the same sentence.

 

Buying and living there as a ex-pat is not the same as trying to own and rent and be a landlord.

[MeGoDanceNow 4,281]

Pace Grandpollo, there are good real estate investments to be had in Pattaya, or there were at one time anyway.

 

And living and investing here are not mutually exclusive.

 

However, a quick glance at the Pratamnak skyline tells you there's a glut on its way, and you may want to be careful just now.

[chris2004 67]

Buying to live here is a good idea but investment !! - no way.

[pattayaman2001 24]

Rent for a while first then look around.

 

I think some condos are decent investments but then again I've never bought one. Might in the future though..

[Idefix 2,275]

Buying to live here is a good idea but investment !! - no way.

 

Please explain. I don't see any reason to no invest here, but as everywhere you must be careful and not buy something too expensive or in a non attractive place. There is good investment who can be done in Pattaya. Look at VT6 by example. 48 sqm were to sell at barely 2 Mbaht in 2008 and are sold now at 3 or 3.5 Mbaht. Not bad for a 5-years investment

[Gabor 296]

Please explain. I don't see any reason to no invest here, but as everywhere you must be careful and not buy something too expensive or in a non attractive place. There is good investment who can be done in Pattaya. Look at VT6 by example. 48 sqm were to sell at barely 2 Mbaht in 2008 and are sold now at 3 or 3.5 Mbaht. Not bad for a 5-years investment

 

What you see on the real estate websites sometimes misleading....nowadays the studios are on offer in the VT2A for 1.7-2mill... I bought easily one for 1.5 and an other for 1.58 mill....and I still have offers... one thing what the sellers want to receive and an other thing what they may receive if they really want to sell... I mean IF they really want to sell....see the 3/4 empty VT7 .... for years...the expected prices not meet the market prices....

Edited October 25, 2013 by Gabor

[jacko 8,813]

Please explain. I don't see any reason to no invest here, but as everywhere you must be careful and not buy something too expensive or in a non attractive place. There is good investment who can be done in Pattaya. Look at VT6 by example. 48 sqm were to sell at barely 2 Mbaht in 2008 and are sold now at 3 or 3.5 Mbaht. Not bad for a 5-years investment

Oh I think there are reasons..........

Inability to own land being one of them.

A legal system that is stacked against you, that underneath is corrupt.

And the possibility of a whacking it you do get the better in a deal.

But GOOD example........

[cbrib 354]

If you are looking to buy places and rent them there are ppl on this board that have been successful doing this. Bear in mind they have been around along time and it is not as easy to do this as say 10 years ago.

 

If you are confident in buying new developments off plan and reselling when they are close to completion or completed, this is another viable option because many condo buyers refuse to buy off plan. Nova, Tudor, The Urban, Global Top are all very reputable companies to buy from

[Parkwahn 61]

 

What you see on the real estate websites sometimes misleading....nowadays the studios are on offer in the VT2A for 1.7-2mill... I bought easily one for 1.5 and an other for 1.58 mill....and I still have offers... one thing what the sellers want to receive and an other thing what they may receive if they really want to sell... I mean IF they really want to sell....see the 3/4 empty VT7 .... for years...the expected prices not meet the market prices....

VT2 is not VT6 , I just sold in VT5 for 2,9 .....

[Gabor 296]

VT2 is not VT6 , I just sold in VT5 for 2,9 .....

 

Sell mine in VT5 for 1.9 mill.... deal ?

[Parkwahn 61]

 

Sell mine in VT5 for 1.9 mill.... deal ?

Yours is a low floor a Thai name and the wrong side..

 

That's the thing floor and fit out makes a million difference or more. You can't sell yours mine flew out the door...

 

I will give you 1.4 that's all it's worth

[Gabor 296]

Yours is a low floor a Thai name and the wrong side..

 

That's the thing floor and fit out makes a million difference or more. You can't sell yours mine flew out the door...

 

I will give you 1.4 that's all it's worth

 

Farang name....

[Parkwahn 61]

 

Farang name....

Apologies, I stated a decent fit out and high floor was 1 million difference, seems it's at least 1.2..

 

I will offer you 1.4 how is that ?

[aussielongboat 20]

i also considered it and concluded that it would just be too risky.

the secondary reasons were that i didnt know the market and it may not inflate as good as other investments etc.

 

but the main reason is that you may not actually own the property due to laws about foreign ownership etc.

 

also there is the possibility of corruption at every level to factor in as well.

 

easier to invest in australia and live off the proceeds and pay rent

[Gabor 296]

Apologies, I stated a decent fit out and high floor was 1 million difference, seems it's at least 1.2..

 

I will offer you 1.4 how is that ?

 

The typical Pattaya real estate scammer's nice try.....newbies learn.... When you buy it costs 10.000.000 and the market is busy, when you sell the same property costs 37 baht....and the marked is dead...

Edited October 27, 2013 by Gabor

[Gary 4,118]

I bought a condo a number of years ago because I wanted a nice place to live. I was advised against it by my friends who were of the opinion that I was paying too much. I have no desire to be a landlord again because I don't like the headaches. I now live upcountry and only use the condo for an occasional getaway. I like my condo and have turned down offers from people who wanted to buy it. I bought it when there were 41 baht to the dollar and it has also appreciated considerably. I do keep it well maintained. Maybe I should mention that it is 60 square meters and not a shoe box. It is totally furnished and I could move back in it tomorrow if my Thai wife should ever tell me to hit the road. That's a good feeling knowing that I will always have a roof over my head and it only cost me 600 baht a month for the maintenance fee. It's like a security blanket.

 

That said, I wouldn't buy a condo for just an investment. Real estate other than a condo in your own name cannot be legally owned so that, at least for me, is a definite no go.

[Parkwahn 61]

 

The typical Pattaya real estate scammer's nice try.....newbies learn.... When you buy it costs 10.000.000 and the market is busy, when you sell the same property costs 37 baht....and the marked is dead...

You may be a scammer, however I sold my vt 5 for more than a bought it, you can't sell yours as it's a dump and one terrible floor...

 

The market is the market...

[Gabor 296]

You may be a scammer, however I sold my vt 5 for more than a bought it, you can't sell yours as it's a dump and one terrible floor...

 

The market is the market...

 

[Idefix 2,275]

//

but the main reason is that you may not actually own the property due to laws about foreign ownership etc.

also there is the possibility of corruption at every level to factor in as well.

//

 

Are you talking by experience or just from rumours ?

Many (Most?) investors focuse on Condos, and yes you can legally own a Condo in your name.

Corruption relative to R.E. investment ? What ? Where ?

Everything is done at the Land Office, and the one in Pattaya has very good reputation

[Parkwahn 61]

 

Is that you waiting for the owner, face facts your 1.9 is over priced 1.4 do the deal this week ?

[jaxxon55 252]

Dancewatcher just sold my rental condo at VT6. I bought it off plan before the building started. With income and sales I almost doubled my money in a few years. 6? That seems o.k. to me.

Jack

[bigmick 840]

Like every where else in the world it all comes down to supply and demand and location/location/location. I have just sold my 2 bed condo in Wongamat because the place has become a mini Moscow. The man who bought it has 26 condos in Pattaya and his plan is to reach 40. All of his condos are rented and he gets quite an income from them all. His key to his success is in the locations of each building and the fact that all the buildings are very modern and do not have several hundred condos slumped ontop/next to each other. You can get some good deals around now, but you need to do your home work and leg work first. I have 3 houses and rent two of them, both are rented long term and I get a good lump of cash from them. They are both in very good locations and I have enquiries about them both nearly every month. I have a good friend who has just retired and sold all his property in Thailand and is living off the money he has taken out of the pot from the sale of his properties. He is very well set now and won't have to leave any property to the wifes family if he dies as he intends having lots of holidays and enjoying his time.

[jaxxon55 252]

Many people I know have made lots of money in Pattaya real estate. Only the ones that don't invest keep harping about how it can't be done. But it surely requires a lot of caution as bigmick and others have stated.

Jack