buy condo in pattaya for investment / which one ?

[champers]

1 minute ago, madmen said:

oh come on, thats grasping at straws..How would a tenant know?  get real

They wouldn't know, but they can still enquire of the relevant government department. I have read threads on this forum where renters have threatened this tactic to get a deposit back.

Still, the risk is on you, not me, so what do I care? To break the law deliberately over a 5 year period in a foreign country is not a good move, IMO. I would not believe any falang who tells you they don't pay the tax either.

[robint]

On 5/10/2019 at 12:58 PM, AtoZ said:

plot twist - most of the posters ARE TV management

 

they have the data on what goes viral, would be good ROI to keep it in excel and recycle after certain time

your evidence is?

[madmen]

3 hours ago, champers said:

They wouldn't know, but they can still enquire of the relevant government department. I have read threads on this forum where renters have threatened this tactic to get a deposit back.

Still, the risk is on you, not me, so what do I care? To break the law deliberately over a 5 year period in a foreign country is not a good move, IMO. I would not believe any falang who tells you they don't pay the tax either.

What law? like the law to wear helmets, the law for taxi driver meters, the law not to rent Air bnb nightly? I could go on with 50 more examples. Snap out of it TIT!! 

[champers]

18 minutes ago, madmen said:

What law? like the law to wear helmets, the law for taxi driver meters, the law not to rent Air bnb nightly? I could go on with 50 more examples. Snap out of it TIT!! 

So that is why the prisons are all empty (not).

[bkk6060]

There are almost 12,000 properties for sale in Pattaya. 

It is a minimal at best appreciating market most properties have depreciated over the past 5 years. 

Your 5 MIL will be dead money in real estate.

Bad choice and investment.

[madmen]

1 minute ago, bkk6060 said:

There are almost 12,000 properties for sale in Pattaya. 

It is a minimal at best appreciating market most properties have depreciated over the past 5 years. 

Your 5 MIL will be dead money in real estate.

Bad choice and investment.

I didnt buy in Pattaya. Same size condos across the soi and next door are selling for 12 million , not long to go and its payed for itslef in rent. Plus if i sold today I would make 25% exchange rate profit.  dead money ass!  But you keep renting, us landlords adore you ,the more the merrier

[madmen]

13 minutes ago, champers said:

So that is why the prisons are all empty (not).

one word...yaba

[bkk6060]

17 minutes ago, madmen said:

I didnt buy in Pattaya. Same size condos across the soi and next door are selling for 12 million , not long to go and its payed for itslef in rent. Plus if i sold today I would make 25% exchange rate profit.  dead money ass!  But you keep renting, us landlords adore you ,the more the merrier

You truly seem to not understand the market. But good luck with "others are selling for".

By the way, you will make nothing off the exchange as savy buyers with a good agent will and have been using that as a negotiation tool. 

Thus, the 12,000 properties as in stubborn owners minds, they will not sell for less then they paid. 

 

[BestB]

Rule number One. Always buy in smaller developments, because when you want to rent less chance of someone else renting and when you want to sell less chance of someone else selling

 

Rule Number Two, instead of buying 1 for 5 million, you should buy 2-4 for 1 million, plenty of people including locals willing to pay 5000-7000 per month, over those willing to pay 30 000 per month.

 

For 5 million can get 2 small houses which which rent for about 12000-15000, in my opinion much better investment than condo's

[KittenKong]

30 minutes ago, madmen said:

I didnt buy in Pattaya.

The topic is about buying a condo in Pattaya for investment.

 

Bangkok is very different, not least because areas like Asok are heavily developed and in significant demand. Quite how high the demand will be when they have knocked down all the small shops and bars and replaced them with high-rise condos, I dont know.

Either way, the same cannot be said for Pattaya which has huge areas of completely undeveloped or minimally developed land even right on the beach, and much more as you move away from the beach.

[AtoZ]

7 minutes ago, BestB said:

Rule Number Two, instead of buying 1 for 5 million, you should buy 2-4 for 1 million, plenty of people including locals willing to pay 5000-7000 per month, over those willing to pay 30 000 per month.

The problem is that people able to pay 5-7k are generally way more problematic than those who can pay 30k

[madmen]

4 minutes ago, KittenKong said:

The topic is about buying a condo in Pattaya for investment.

 

Bangkok is very different, not least because areas like Asok are heavily developed and in significant demand. Quite how high the demand will be when they have knocked down all the small shops and bars and replaced them with high-rise condos, I dont know.

Either way, the same cannot be said for Pattaya which has huge areas of completely undeveloped or minimally developed land even right on the beach, and much more as you move away from the beach.

I know . I replied to your post that said "Thailand" is a poor investment. BKK is in Thailand

[KittenKong]

9 minutes ago, BestB said:

Rule number One. Always buy in smaller developments, because when you want to rent less chance of someone else renting and when you want to sell less chance of someone else selling

Small developments also cost a lot more in common fees.

 

10 minutes ago, BestB said:

Rule Number Two, instead of buying 1 for 5 million, you should buy 2-4 for 1 million, plenty of people including locals willing to pay 5000-7000 per month, over those willing to pay 30 000 per month. 

To me that just sounds like 2-4 times the hassle of being a landlord. And those locals paying 5000B are probably the most likely to trash the condo or do a runner with the furniture.

 

11 minutes ago, BestB said:

 

For 5 million can get 2 small houses which which rent for about 12000-15000, in my opinion much better investment than condo's

And that would involve company-name purchases or having a Thai partner, neither of which appeals to me in the slightest.

[KittenKong]

1 minute ago, madmen said:

I know . I replied to your post that said "Thailand" is a poor investment. BKK is in Thailand

Fair enough. I'll make my comment "the part of Thailand referred to by the OP" though that should have been obvious from the context.

[BestB]

3 minutes ago, AtoZ said:

The problem is that people able to pay 5-7k are generally way more problematic than those who can pay 30k

That is true, but then you can have your 30 000 baht property empty or 7000 baht property always rented. Its a gamble, 

 

Upside, 7000 baht property would cost around 25000 to fully furnish, so even if the tenant is a problem, with 14000 deposit, you only loose 9000.in case tenant going mental and trashing the entire place.

 

In a 30 000 baht property it would cost a lot more to furnish it and maintain it

[mike787]

On 5/10/2019 at 1:38 AM, nomad2019 said:

5mill sitting gathering dust

Really??? DUST???  If you have 5 mil I assume you're not stupid. It is yours, so let's get that out of the way first.  Second,  I wouldn't put into a condo anywhere if ROI (return on investment) matters.  If it doesn't, then do as you see fit.  Otherwise, consider a low fee, diversified mutual fund.  Crunch the numbers, they won't lie to you.  Take a look at the same time frame you project to hold the condo see which will deliver best returns.  See what matters to you.  Also, real estate, especially in Asia, does not sell for profit easily.  Good luck.

[BestB]

3 minutes ago, KittenKong said:

Small developments also cost a lot more in common fees.

 

To me that just sounds like 2-4 times the hassle of being a landlord. And those locals paying 5000B are probably the most likely to trash the condo or do a runner with the furniture.

 

And that would involve company-name purchases or having a Thai partner, neither of which appeals to me in the slightest.

Small developments only cost more if it has lost of extras like pool and gym etc.

Yes as i said previously, they could trash and do the runner but your losses are minimal, if you take into account your 30 000 baht property being empty and if tenant does the same thing there.

Yes it would involve accountant or lawyer setting up company and paying minimal taxes, but it also has higher returns and growth where as your condo with stunning view could be blocked by a new development at any time or get a noisy bar right outside your window and there goes your tenant and investment

[DingDongLing]

The markets are manipulated by the ultra elite.  2008 was on purpose.

 

Who here is in Bitcoin and the likes?  Crypto anyone?

[KittenKong]

Just now, BestB said:

That is true, but then you can have your 30 000 baht property empty or 7000 baht property always rented. Its a gamble, 

I can show you a thousand cheap rental condos here that are unoccupied. Of course there are also plenty of unoccupied expensive ones but to assume that cheap ones are always full would be a big mistake, as would assuming that everyone who rents in an expensive condo is actually paying the advertised price.

 

The Thai property market is mostly smoke and mirrors, plus a lot of lies and deception.

[KittenKong]

1 minute ago, BestB said:

Small developments only cost more if it has lost of extras like pool and gym etc.

No, by definition a small building will have higher per unit costs for the same facilities.

 

Even in buildings with many facilities there will normally be cost savings due to scale.

 

2 minutes ago, BestB said:

Yes it would involve accountant or lawyer setting up company and paying minimal taxes, but it also has higher returns and growth where as your condo with stunning view could be blocked by a new development at any time or get a noisy bar right outside your window and there goes your tenant and investment

It also involves attempting to own something that cant legally be yours. This is not acceptable to me.

 

Buying a condo in the right place (and the right place was not Jomtien Complex) would normally ensure that the view will remain intact. So caveat emptor for that. As for noisy bars right outside my window, this is unlikely to happen on the 40th floor. You are much more likely to get noisy bars and barking dogs and party rentals in a housing village, and you will have a lot more trouble trying to deal with them there than you would in a condo.

[pegman]

11 hours ago, KittenKong said:

Fine, if that suits you.

I prefer investments that give a decent return on which I pay no tax and come with no charges or costs and which above all require no effort at all from me. I dont want to deal with AirBnB, or tenants, or tradesmen, or agents or indeed anyone else. And I dont want to have to think about what will happen next month, or whether my tenant is trashing the place, or which microwave to buy when the current one breaks, or how much it will cost me to sell my rental unit when the time comes (if indeed it can be sold).

 

Like I said, if you like doing all that donkey work then buying a rental condo might be a good idea. Personally I would hate every second of it and I am very thankful that my income from other investments is high enough that I can stay well away from it.

Can you tell us what type of investments have no costs, efforts, charges or taxes? 

[pegman]

3 hours ago, madmen said:

I didnt buy in Pattaya. Same size condos across the soi and next door are selling for 12 million , not long to go and its payed for itslef in rent. Plus if i sold today I would make 25% exchange rate profit.  dead money ass!  But you keep renting, us landlords adore you ,the more the merrier

1997

[bkk6060]

7 hours ago, KittenKong said:

I can show you a thousand cheap rental condos here that are unoccupied. Of course there are also plenty of unoccupied expensive ones but to assume that cheap ones are always full would be a big mistake, as would assuming that everyone who rents in an expensive condo is actually paying the advertised price.

 

The Thai property market is mostly smoke and mirrors, plus a lot of lies and deception.

Could not agree more.

 

No multiple listings

No true sale records

No comps or appraisal records

etc.

Absolutely no transparency or truth.

 

I could easily buy here but in my opinion it is stupidity.

True investors with some knowledge and money would never invest in Thailand real estate.

 

There are 100ś of horror stories on TVF over the past few years with those who have buyers remorse.

A loud bar goes in nearby.

A live band starts up.

Construction starts in the lot next door.

Bad neighbors and poor management.

What then?  You are stuck. Good luck selling even at the paid price.

 

Renting is the most sensible way to go here.   So much flexibility and many options.

Not stuck in some purgatory nightmare.

 

Do not be naive and do some research. Be smart. Manage your portfolios intelligently and Invest your money in a true investment, which certainly is not Thai real estate.

 

 

 

[KittenKong]

5 hours ago, pegman said:

Can you tell us what type of investments have no costs, efforts, charges or taxes? 

My ETF index trackers held in the UK are not subject to tax beyond that paid by the underlying companies themselves. There is a small ETF management fee (generally under 0.1%) which is applied before dividends are paid out but I dont pay anything directly.

 

To actually buy or sell such holdings (which I don't often do) costs under £10. Some brokers like mine have an annual fee that covers a certain number of trades each year so in the end the cost is usually zero. As a percentage of my holdings that fee is tiny anyway at around 0.02%

 

My time deposits come tax-free also, and also have no charges involved.

 

[pegman]

50 minutes ago, KittenKong said:

My ETF index trackers held in the UK are not subject to tax beyond that paid by the underlying companies themselves. There is a small ETF management fee (generally under 0.1%) which is applied before dividends are paid out but I dont pay anything directly.

 

To actually buy or sell such holdings (which I don't often do) costs under £10. Some brokers like mine have an annual fee that covers a certain number of trades each year so in the end the cost is usually zero. As a percentage of my holdings that fee is tiny anyway at around 0.02%

 

My time deposits come tax-free also, and also have no charges involved.

 

Thanks, I'm not sure the same exists in Canàda. Any of my countrymen know? 

Edited May 12, 2019 by pegman

[AtoZ]

2 hours ago, pegman said:

Thanks, I'm not sure the same exists in Canàda. Any of my countrymen know? 

It exist in every developed country.

 

Alternatively you can open account with Schwab - they also have ETFs where purchase / sale is totally free and no annual cost for the account.

[Destiny1990]

On 5/10/2019 at 1:58 PM, AtoZ said:

plot twist - most of the posters ARE TV management

 

they have the data on what goes viral, would be good ROI to keep it in excel and recycle after certain time

Hi Atoz I totally agree with what you wrote..

[JaiLai]

11 hours ago, bkk6060 said:

Could not agree more.

 

No multiple listings

No true sale records

No comps or appraisal records

etc.

Absolutely no transparency or truth.

 

I could easily buy here but in my opinion it is stupidity.

True investors with some knowledge and money would never invest in Thailand real estate.

 

There are 100ś of horror stories on TVF over the past few years with those who have buyers remorse.

A loud bar goes in nearby.

A live band starts up.

Construction starts in the lot next door.

Bad neighbors and poor management.

What then?  You are stuck. Good luck selling even at the paid price.

 

Renting is the most sensible way to go here.   So much flexibility and many options.

Not stuck in some purgatory nightmare.

 

Do not be naive and do some research. Be smart. Manage your portfolios intelligently and Invest your money in a true investment, which certainly is not Thai real estate.

 

 

 

He's talking about buying as an investment so telling him to rent is not really relevant although it may be the most sensible option ( for some ).

 

As with all property it's all about location, for example a high floor in Northshore condo was probably a good investment IMO.

 

Buying near open land never a good idea for sure.

[bkk6060]

5 hours ago, JaiLai said:

He's talking about buying as an investment so telling him to rent is not really relevant although it may be the most sensible option ( for some ).

 

As with all property it's all about location, for example a high floor in Northshore condo was probably a good investment IMO.

 

Buying near open land never a good idea for sure.

So what is your suggestion for him?

Yes Northshore was good but seems to have reached it s peak. 

The only other significant ( for Pats RE) profit project recently was The Base with many going up close to one million b from the start of sales. 

The rest of the Pattaya area has been stagnant over the past several years. 

The Edge I talked about before will be and already is a profit maker. 

People are actually selling their reservations for a profit and construction has just begun. 

[Destiny1990]

17 minutes ago, bkk6060 said:

So what is your suggestion for him?

Yes Northshore was good but seems to have reached it s peak. 

The only other significant ( for Pats RE) profit project recently was The Base with many going up close to one million b from the start of sales. 

The rest of the Pattaya area has been stagnant over the past several years. 

The Edge I talked about before will be and already is a profit maker. 

People are actually selling their reservations for a profit and construction has just begun. .

Edited May 12, 2019 by Destiny1990