Anyone from View Talay 2? What the buy/sell market there now?

[mike111]

Hi,

 

Anyone staying long term there? what's the studio unit buy/sell market there now?

 

Cheers

[Gabor]

I live here.... 1.3-1.7 million the asked prices.

[mike111]

Thanks. Would you know if these are the prices they actually get sold at?.

[johng]

6 minutes ago, mike111 said:

Would you know if these are the prices they actually get sold at?

Only the buyer and seller knows that information.

[mike111]

I doubt it. People chat and details always circulate.

 

[bkk6060]

I would offer less then one million.

Make 8 to 10 offers I bet one bites.

[Gabor]

I bet no one sells under the recent situation.... not for 1.7 mill, not for less, than 1 mill... Sellers simple waits for the better times, unless a hurry sell... but I see no one hurry sell... Most of the owners wants to sell are abroad...

[Henryford]

17 hours ago, bkk6060 said:

I would offer less then one million.

Make 8 to 10 offers I bet one bites.

Anyone offering me under 1 million i would send to Nirun, where they obviously belong.

[19DL86]

I can try give you a picture of similar circumstance if that might help. I once lived in View Talay 3 for 3-4 years, still visit friends there regularly.  At least 3 of the guys I know have been trying to sell for several years now.

These are all very nice, modern interiors 50 SqM in Building A - so all with uninterrupted sea views on higher floors 7th and 12th.  Dropping from 2.7-3Mil Bt range to 2.2-2.5MBt - NO TAKERS. One had a buyer at 2.25Mil and pulled out a few weeks back lost a big deposit too 250,000Bt.

 

So I'd say VT2 at 1.5Mil or less is about right.....if you can find anyone to buy, as there's tens of 1,000 units available.

[newnative]

29 minutes ago, 19DL86 said:

I can try give you a picture of similar circumstance if that might help. I once lived in View Talay 3 for 3-4 years, still visit friends there regularly.  At least 3 of the guys I know have been trying to sell for several years now.

These are all very nice, modern interiors 50 SqM in Building A - so all with uninterrupted sea views on higher floors 7th and 12th.  Dropping from 2.7-3Mil Bt range to 2.2-2.5MBt - NO TAKERS. One had a buyer at 2.25Mil and pulled out a few weeks back lost a big deposit too 250,000Bt.

 

So I'd say VT2 at 1.5Mil or less is about right.....if you can find anyone to buy, as there's tens of 1,000 units available.

    I don't see any listings for 50 sqm studios for sale at VT3 on floor 7 or 12  when I check Hipflat, and none listed in the 2.2MB price range except 1st floor commercial units.  Some of the listings don't give the floor number but it seems to indicate that your friends might need to list with more agencies.  Most of the big agencies will post their listings on Hipflat so, if they were listed, the condos of your friends should appear at least a few times with the big agencies such as Coastal, East Coast, Paragon, Faz Waz, Pattaya Prestige, Two Flat, All Seasons, and Thompson's, among others.  Half the battle in selling a condo is making sure it is listed with as many agencies as possible, as there is no MLS.   Always important but now more than ever. 

[david555]

3 hours ago, Henryford said:

Anyone offering me under 1 million i would send to Nirun, where they obviously belong.

But also i think you would be sending those for many many years also ….as nobody go get present dreaming prices as Thailand is now over the top of the hill , and as you know …., after reaching the top the descent is the only way to go

[Leaver]

15 hours ago, Gabor said:

I bet no one sells under the recent situation.... not for 1.7 mill, not for less, than 1 mill... Sellers simple waits for the better times, unless a hurry sell... but I see no one hurry sell... Most of the owners wants to sell are abroad...

Many on fixed incomes can no longer afford to stay here, and if they can, they need to sell, bank the money, and rent.  A lot of people struggling here now.  They have money tied up in property that they need to liquidate.   

[mike111]

I doubt there will 37-41 sqm studios in VT2A/B going for 1M or less. They were going for about 1.6M 2-3 years ago so a 40% doesn't make sense, even with the strong Baht and the Covid19.

 

I'm guessing 1.4M, give or take say 0.5M, is currently where most deals are settled.

 

[1FinickyOne]

15 hours ago, Gabor said:

but I see no one hurry sell.

because when there is a 'hurry sell' and the price gets very reasonable - it goes quickly... give a steal, make a deal...

[Leaver]

21 minutes ago, mike111 said:

I doubt there will 37-41 sqm studios in VT2A/B going for 1M or less. They were going for about 1.6M 2-3 years ago so a 40% doesn't make sense, even with the strong Baht and the Covid19.

 

I'm guessing 1.4M, give or take say 0.5M, is currently where most deals are settled.

 

Do you forget what happened during the GFC? 

 

In The States, you could buy a house for only its outstanding property taxes. 

 

There was recently a long established bar here that was given away, and I mean, literally, given away for no money, with the owner practically begging anyone interested on behalf of his staff that would be out of work, should no one take over the bar's expenses.  

 

Huge shift in tourist demographic, strong baht, weak western currencies, aging expats population, Pattaya / Thailand falling out of favor with western tourists, oversupply of property on the market, continual construction of more properties, now, the virus. 

 

Never say never. 

 

Those wishing to sell should think very hard about ANY offer they get, it may be their first, and last offer.

 

Edited March 25, 2020 by Leaver

[david555]

VT2A & B owners forum , can see intern bad and eventually good things/complaints  about both

 

http://vt2info.com/phpBB3/index.php

[mike111]

8 minutes ago, Leaver said:

There was recently a long establish bar here that was given away, and I mean, literally, given away for no money, with the owner practically begging anyone interested on behalf of his staff that would be out of work, should no one take over the bar's expenses.

Comparing a bar (or any other business) to a residential property is irrelevant since the market dynamics are completely different. People need a place to stay, while going to a bar, for most people, represent non-essential expenses which will be the first to be axed in dire financial times. I wouldn't buy a bar or anything similar anywhere in Thailand ever, irrespective of the financial climate. But a residence is something different.

[19DL86]

OK without running the risk of getting into a sh** slinging fight, as myself personally I don't care. I have no interest in ownership here, after I sold up my 3 properties some years back now.  I rent here now and will remain doing so. I take my money from my rentals back home. That's it.

 

Thanks to the guy, NewNative - who made some suggestions and asked some question regards those example I made in VT3.  Let me say again it's not my business I dont give a fff.  But I can assure you those properties are with big Realtors.  Not that it makes any difference. You can't sell unless there's a buyer.  And there is nt any!!  (PM me if you want the real accurate and contact details).

 

There's no one here wanting to buy, no one that is here from the Expat community is flushed to pay over inflated prices for properties that you might have no direct/lawful ownership to, or in the case of Condos - very little control and influence over with matters reference maintenance & management etc. when the pooh hits the fan.  Which is very likely soon to be!

 

Go drive around these "Gated Communities" everywhere you go, all less than 20% owner occupied, most rented out, some left empty.  One particular in Bangsarey, not too bad, not high end but OK. Grand Garden Home 18-19 houses for sale out of 50.  Prices dropped and dropped, some been on the market 5 years, only a few have sold in years.  Desperate.  This is repeated at DheeWee Park, Koon Suk everywhere.

 

All over developed and overpriced in the hope that the area would explode because of the EEC corridor and Utapao Airport etc. Not a chance now two massive multi nationals have pulled out Toyota and Airbus.

 

I would nt touch anything now, not even at 30-40% below the price tag

[Leaver]

1 hour ago, mike111 said:

Comparing a bar (or any other business) to a residential property is irrelevant since the market dynamics are completely different. People need a place to stay, while going to a bar, for most people, represent non-essential expenses which will be the first to be axed in dire financial times. I wouldn't buy a bar or anything similar anywhere in Thailand ever, irrespective of the financial climate. But a residence is something different.

I think you missed my point, that being, if you can't even give away a bar here, that means western tourists are not coming here (pre virus) and if western tourists are not coming here, that means the next generation of retired expats will not be retiring here, and if the next generation of retired expats are not retiring here, that points to Pattaya's property market falling off a cliff. 

[Airalee]

5 hours ago, newnative said:

    I don't see any listings for 50 sqm studios for sale at VT3 on floor 7 or 12  when I check Hipflat, and none listed in the 2.2MB price range except 1st floor commercial units.  Some of the listings don't give the floor number but it seems to indicate that your friends might need to list with more agencies.  Most of the big agencies will post their listings on Hipflat so, if they were listed, the condos of your friends should appear at least a few times with the big agencies such as Coastal, East Coast, Paragon, Faz Waz, Pattaya Prestige, Two Flat, All Seasons, and Thompson's, among others.  Half the battle in selling a condo is making sure it is listed with as many agencies as possible, as there is no MLS.   Always important but now more than ever. 

Just a friendly FYI for you.  Hipflat is no longer reliable.

 

I’ve been looking at a 6 different buildings in Hauahin and literally most of the listings for those buildings have been pulled from Hipflat.  The agent I’ve been dealing with has 8 listings still on their site for one of the buildings but initially had only 5 of them listed on Hipflat.  Two weeks ago it dropped to two.  Now they have zero.  It’s not just this one agent either.

 

Thailand Property has more listed fwiw.

Edited March 25, 2020 by Airalee

[newnative]

46 minutes ago, Airalee said:

Just a friendly FYI for you.  Hipflat is no longer reliable.

 

I’ve been looking at a 6 different buildings in Hauahin and literally most of the listings for those buildings have been pulled from Hipflat.  The agent I’ve been dealing with has 8 listings still on their site for one of the buildings but initially had only 5 of them listed on Hipflat.  Two weeks ago it dropped to two.  Now they have zero.  It’s not just this one agent either.

 

Thailand Property has more listed fwiw.

    I still use it--I found my current condo on it that I bought earlier this year.   You will find some of the listings have been sold but I find it easy to use and I like that it has information on projects by neighborhoods, a project's date of construction, number of units, amenities, etc.  It's not perfect but, with no MLS, it's a good starting point for me when I am condo shopping. 

    I checked Thailand Property and it still has the condo I bought months ago listed so it can, apparently, also have some out of date listings, as well.  Neither seems to be able to distinguish multiple listings for the same condo.  When I check a condo I have listed for sale in a small condo project, it says there are 8 condos for sale in the project but actually there is just one condo listed 8 times by different agencies.  No harm in using both when starting a search.  

    

[19DL86]

Wow it is alarming to myself, maybe I m a cynic - but are people actually "Condo shopping" ??? Guess it's a Millennial thing.  Glad I done that bit 30 years ago made the money retired at 50 and still live off the rental/capital growth proceeds.

 

I would have thought anyone with a modicum of sense would nt be involved in any purchases here now or in the "past few months".  Ah well obviously not.

 

Oh New Naive, (sic) I hear those offers, packages and "Investments" touted by New Nordic, Emerging Trends etc are "too good to be true".  Lol

Edited March 26, 2020 by Rimmer
Fonts corrected

[Airalee]

44 minutes ago, newnative said:

    I still use it--I found my current condo on it that I bought earlier this year.   You will find some of the listings have been sold but I find it easy to use and I like that it has information on projects by neighborhoods, a project's date of construction, number of units, amenities, etc.  It's not perfect but, with no MLS, it's a good starting point for me when I am condo shopping. 

    I checked Thailand Property and it still has the condo I bought months ago listed so it can, apparently, also have some out of date listings, as well.  Neither seems to be able to distinguish multiple listings for the same condo.  When I check a condo I have listed for sale in a small condo project, it says there are 8 condos for sale in the project but actually there is just one condo listed 8 times by different agencies.  No harm in using both when starting a search.  

    

All I am saying is that for HuaHin (and I wouldn’t be surprised that the same is happening in Pattaya) is that many listings that are still currently for sale on other sites (fazwaz, ddproperty, Thailand property, baan dee, and agent specific sites) and that I have confirmed via direct email with the agents on those other sites, are no longer listed on hipflat.  Why, I do not know, but it is what it is.

[gamesgplayemail]

Why not VT1 ? it's even closer to the supermarket.

 

 

[Airalee]

14 hours ago, 19DL86 said:

Wow it is alarming to myself, maybe I m a cynic - but are people actually "Condo shopping" ??? Guess it's a Millennial thing.  Glad I done that bit 30 years ago made the money retired at 50 and still live off the rental/capital growth proceeds.

 

I would have thought anyone with a modicum of sense would nt be involved in any purchases here now or in the "past few months".  Ah well obviously not.

 

Oh New Naive, (sic) I hear those offers, packages and "Investments" touted by New Nordic, Emerging Trends etc are "too good to be true".  Lol

I’m not a millennial, but I am shopping.  If the right condo is available to me at a price I am comfortable with (most listings are still at pie in the sky prices)...I will buy.  I won’t speculate on future appreciation and only pay attention to the P/E ratios.  I will only consider purchasing for living in and think that purchasing as an investment (to rent out) is foolish at best and disastrous at worst.

 

And for what it’s worth...newnative is certainly not naïve.

[chrisandsu]

The reality is Thailand has become expensive for a western expat . Yes the housing is cheap still but the medical/cars, western lifestyle is not ! I used to own (cough cough)a couple of houses and some land - the houses were sold off a few years ago and the now overpriced land just sits there as I may want to retire and build a house there in the future . It has very little running costs so it’s not a bother to me . One thing I learned is to not buy on a lower end 1-5 million baht moo baht or condo building as they turn to rubbish very very quickly and there is not a thing you can do about it . 

[newnative]

1 hour ago, Airalee said:

I’m not a millennial, but I am shopping.  If the right condo is available to me at a price I am comfortable with (most listings are still at pie in the sky prices)...I will buy.  I won’t speculate on future appreciation and only pay attention to the P/E ratios.  I will only consider purchasing for living in and think that purchasing as an investment (to rent out) is foolish at best and disastrous at worst.

 

And for what it’s worth...newnative is certainly not naïve.

I'm not a millennial, either.  Guess we're both just young at heart.  I'm not buying to rent, either--the last 2 condos my partner and I bought, in Pattaya and Bangkok, are for our personal use.  

[rhodie]

6 hours ago, mike111 said:

I doubt there will 37-41 sqm studios in VT2A/B going for 1M or less. They were going for about 1.6M 2-3 years ago so a 40% doesn't make sense, even with the strong Baht and the Covid19.

 

I'm guessing 1.4M, give or take say 0.5M, is currently where most deals are settled.

 

Really? None going for 1M or less, but 1.4 give or take 0.5M.

1.4 minus 0.5 equals, wait for it, 900,000. ???? 

[mike111]

The con arguments posted above have several logical flaws:

1. A condo purchase is not always just an investment but it's often done to provide a home, instead of being a long-term hotel guest, which is essentially what a renter.

 

2. Renting makes sense when property prices are high since then financing the purchase can be very expensive and negates any possible savings gained over renting. Sq.m prices in NY are around 14K USD/sq.m while in VT2 they're around 1160 USD/sq.m, so it's about 10x cheaper, while the unit price is around 41K USD which is something most people could probably finance even if they couldn't afford it outright.

https://www.numbeo.com/cost-of-living/city_price_rankings?itemId=100

After living there for several years one can sell the unit, even below purchase price, and still end up saving money compared to renting. As an example:

Say a typical monthly condo rental in VT2A/B is 10K baht so yearly is 120K. Over 5years it's 600K baht, that's 46% of the purchase price and is just wasted money. The price chart in hipflat shows VT2 prices have fluctuated around 1300USD/sqm +/- 150USD (except for two peaks where it reached 1600/sqm) during the last 10 years, namely, around a 10% change:

https://www.hipflat.com/projects/view-talay-2-gnaaza

Costs comparison:

Option 1: Buy at 1.4M, live there for 5 years, sell at 10% below purchase (assuming no price increase): total cost is around 140K THB

Option 2: Rent for 5 years: total cost is 600K THB

 

Plus during the time you own the unit you can rennovate to your liking, install a modern kitchen, etc.. It's a home, not a hotel room. Again my assumption is that a person is planning to live in the unit for an  extensive period. If it's just for occasional visits than of course renting is more sensible.

 

I wouldn't buy in one of the recent projects since the build quality is horrendous and the unit sizes are around 35% smaller to VT2. People buying there pay more for less, and are just bearing the costs of inflated land prices. Plus VT2 has a track record of being consistently well-maintained. It's anyone's guess how these new mega projects would look like in a few years.

 

[chrisandsu]

3 minutes ago, mike111 said:

The con arguments posted above have several logical flaws:

1. A condo purchase is not always just an investment but it's often done to provide a home, instead of being a long-term hotel guest, which is essentially what a renter.

 

2. Renting makes sense when property prices are high since then financing the purchase can be very expensive and negates any possible savings gained over renting. Sq.m prices in NY are around 14K USD/sq.m while in VT2 they're around 1160 USD/sq.m, so it's about 10x cheaper, while the unit price is around 41K USD which is something most people could probably finance even if they couldn't afford it outright.

https://www.numbeo.com/cost-of-living/city_price_rankings?itemId=100

After living there for several years one can sell the unit, even below purchase price, and still end up saving money compared to renting. As an example:

Say a typical monthly condo rental in VT2A/B is 10K baht so yearly is 120K. Over 5years it's 600K baht, that's 46% of the purchase price and is just wasted money. The price chart in hipflat shows VT2 prices have fluctuated around 1300USD/sqm +/- 150USD (except for two peaks where it reached 1600/sqm) during the last 10 years, namely, around a 10% change:

https://www.hipflat.com/projects/view-talay-2-gnaaza

Costs comparison:

Option 1: Buy at 1.4M, live there for 5 years, sell at 10% below purchase (assuming no price increase): total cost is around 140K THB

Option 2: Rent for 5 years: total cost is 600K THB

 

Plus during the time you own the unit you can rennovate to your liking, install a modern kitchen, etc.. It's a home, not a hotel room. Again my assumption is that a person is planning to live in the unit for an  extensive period. If it's just for occasional visits than of course renting is more sensible.

 

I wouldn't buy in one of the recent projects since the build quality is horrendous and the unit sizes are around 35% smaller to VT2. People buying there pay more for less, and are just bearing the costs of inflated land prices. Plus VT2 has a track record of being consistently well-maintained. It's anyone's guess how these new mega projects would look like in a few years.

 

The second you compared NY city to Pattaya was the minute your post lost its credibility . Pattaya should be comparable with somewhere like North Dakota but with pollution .