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BANGKOK 19 April 2019 17:23

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Dear all,

I am planning to move to Pattaya in Sept 2019. I have just come back from there and have narrowed down my future stay/move away from UK (running away from Brexit!). There are 2 condos: 1 is near the Big C and the other one in Pratamnak hill. 

My questions are:

1. The state of Pattaya property prices. I feel like it is going down a bit as seeing lots of reductions on thai property sites. Normal for me to negotiate price down?

2. Can i get information about a possible new development arising in front of the condo i plan to buy? I am worried the one in Pratamnak will be subject to this risk as it has currently unhindered beautiful views of the sea.

 

Both properties are foreign owned so no problem. Might have other questions but these are the ones i am interested to know as keen to own a property in Thailand.

 

Thank you

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Thanks for your responses. Looks like renting will be a good idea prior to buying and then making the call. Also re property easy to buy and hard to sell - this would suggest lots of room for negotiating price down. Just dont want to pay fair price if I can help it. The condo i was looking to buy or was veering towards is priced at 64k bhat / sq meter in Pratamnak hill, it has stunning sea views i have to say and a big balcony. The one near Big C is more like an investment/rental opportunity rather than somewhere I would want to stay. 

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14 minutes ago, stiggy23 said:

Thanks for your responses. Looks like renting will be a good idea prior to buying and then making the call. Also re property easy to buy and hard to sell - this would suggest lots of room for negotiating price down. Just dont want to pay fair price if I can help it. The condo i was looking to buy or was veering towards is priced at 64k bhat / sq meter in Pratamnak hill, it has stunning sea views i have to say and a big balcony. The one near Big C is more like an investment/rental opportunity rather than somewhere I would want to stay. 

"this would suggest lots of room for negotiating price down"  ahaha you must be new.  Thais dont negotiate unless a trivial amount. Make sure your on the baht bus route..thats the most important part of the deal IMO unless you want to be fleeced by both cabbies and motorcycle scum 

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Since Thai Visa websites inception the wizards have been saying that real estate is going down which is total nonsense you only need to glance at Bangkok to see prices are more expensive than the west. Pattaya is a lot cheaper of course but just make sure you buy in the area you want and not just hunt down the cheapest price.

 

or just rent, us landlords love you 😉

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when I purchased my condo-back in 2005 -  (also in Pratumnak) the retail prices were price per M as

1st Floor 49.5K

2nd floor 50K

3rd floor 55K

4th floor 60K

5th 62.5K

6th 65 K

So the 64K /M is not un reasonable.

The problem maybe the high Baht

Back in the day (2005)  1 dollar 40 Baht

Now about 31.5.

So a large increase from a dollar perspective

A gigantic leap in cost  from a pound sterling perspective.

Rent initially is good advice

You should spend that time finding a distressed seller.

Ideally a condo that you want at sub 50,000 Baht/M.

It seems to me that there are few buyers (or renters) in town.

 

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3 minutes ago, Delight said:

 

when I purchased my condo-back in 2005 -  (also in Pratumnak) the retail prices were price per M as

1st Floor 49.5K

2nd floor 50K

3rd floor 55K

4th floor 60K

5th 62.5K

6th 65 K

So the 64K /M is not un reasonable.

The problem maybe the high Baht

Back in the day (2005)  1 dollar 40 Baht

Now about 31.5.

So a large increase from a dollar perspective

A gigantic leap in cost  from a pound sterling perspective.

Rent initially is good advice

You should spend that time finding a distressed seller.

Ideally a condo that you want at sub 50,000 Baht/M.

It seems to me that there are few buyers (or renters) in town.

 

 

That's a pretty terrible return considering that 2005 building doesn't age well in Thailand.

 

P

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1 minute ago, Pravda said:

building doesn't age well in Thailand.

Good comment Pravda. Crap construction. Yet another reason why I have not bought one.

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2 minutes ago, DaRoadrunner said:

Good comment Pravda. Crap construction. Yet another reason why I have not bought one.

 

Actually this is the only reason why I didn't buy a condo. Maintenance and construction.

 

You want to know how your building is going to look like in 10 years? Just go around and look at 10 year old condo buildings. Then have another look at 20 year old buildings. The rapid deteriorating is shocking, admittedly less shocking in Pattaya than Bangkok.

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