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Sabai Lodge being demolished


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13 hours ago, newnative said:

    It's encouraging that new hotels are still being constructed and some older ones are using this down time to repaint and remodel.  Work continues on a new highrise hotel on Naklua Road and the big Centre Point 2 project in Wongamat is also progressing--I noticed 2 big cranes on site the other day.  Several condos in Jomtien are also still being constructed--Copacabana, Riviera Ocean Drive, Riviera Monaco, and a new showroom on the old Ocean One site for something going in there.  

Just posted elsewhere on this, there is still optimism despite the claims of 'massive gluts of unsold condos'..... construction still going on, what was opens space shrinking.

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7 minutes ago, jacko45k said:

Just posted elsewhere on this, there is still optimism despite the claims of 'massive gluts of unsold condos'..... construction still going on, what was opens space shrinking.

Good investment returns too...I'm seeing daily rental rates of $10-15 (monthly 10k) at many of the new condos in town.

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10 hours ago, jacko45k said:

Just posted elsewhere on this, there is still optimism despite the claims of 'massive gluts of unsold condos'..... construction still going on, what was opens space shrinking.

Well, it is not claims it is the truth.  I guess you think the real estate market is healthy and things are selling big time?  

 

Phattarachai Taweewong, associate director of research for Colliers, said the impact from the virus on the condo market will be severe in Pattaya, where the market relies heavily on foreign buyers, particularly from China.

 

According to Colliers research on the Pattaya condo market, unsold supply exceeded 25,000 units at the end of 2019, up from 12,800 units in 2018.

 

And this was the end of 2019.  Probably 30,000 units by now. 

 

I have a friend who is an agent and has worked here for several years.  She said this by far is the worst time ever her agency which is rather large sold 2 properties last month. It is all a glut of dead money nothingness with no end in sight.

 

Edited by bkk6060
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8 minutes ago, BigStar said:

Can, as I'm happily living in awaiting Pattaya's transformation into Sihanoukville. When's that happening, exactly?????

There will be bargains as there will be those that suddenly and desperately need to sell, but one does need to be in the right place at the right time.  

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13 hours ago, bkk6060 said:

Well, it is not claims it is the truth.  I guess you think the real estate market is healthy and things are selling big time?

Where did you get that from? I was talking of the construction... I live in a small group of houses that have nearly all been on the market for years and years, and some bad history there. I regret buying my house now.

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On 8/6/2020 at 11:15 PM, newnative said:

It's encouraging that new hotels are still being constructed and some older ones are using this down time to repaint and remodel. 

No doubt the older, remodeled places will put a trendy sign up saying .......................Boutique Hotel, and charge way more than the decrepit old dump is worth just because they put lipstick on a pig.

 

The destruction of Pattaya as it was- cheap and cheerful proceeds, and it will become ever more horrible and expensive. That procedure started when a certain person had a vision of Pattaya becoming the Riviera of SEA and the megabaht to come his way. All they have managed to do so far is make it into an even bigger dump that it was before.

The previous dump was fun though and sanuk has now left the building, never to return.

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13 hours ago, bkk6060 said:

Well, it is not claims it is the truth.  I guess you think the real estate market is healthy and things are selling big time?  

 

Phattarachai Taweewong, associate director of research for Colliers, said the impact from the virus on the condo market will be severe in Pattaya, where the market relies heavily on foreign buyers, particularly from China.

 

According to Colliers research on the Pattaya condo market, unsold supply exceeded 25,000 units at the end of 2019, up from 12,800 units in 2018.

 

And this was the end of 2019.  Probably 30,000 units by now. 

 

I have a friend who is an agent and has worked here for several years.  She said this by far is the worst time ever her agency which is rather large sold 2 properties last month. It is all a glut of dead money nothingness with no end in sight.

 

I've been waiting years to say this, and never thought it would be a virus to cause it, but "I told you so".

5555555555555555555555555555

Edited by thaibeachlovers
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14 hours ago, BigStar said:

Can, as I'm happily living in one awaiting Pattaya's transformation into Sihanoukville. When's that happening, exactly?????

Given that the Chinese were the majority of tourists to Pattaya / Thailand, by a long way, in recent years, I'd say in 3 to 5 years their majority will increase, mainly due to simply more of them coming here, but also partly because less westerners will be coming here, which we saw this past high season.

 

You, in your condo, will have front row seats to Pattaya turning into China Town.  ????  

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1 hour ago, Leaver said:

Given that the Chinese were the majority of tourists to Pattaya / Thailand, by a long way, in recent years, I'd say in 3 to 5 years their majority will increase, mainly due to simply more of them coming here, but also partly because less westerners will be coming here, which we saw this past high season.

 

You, in your condo, will have front row seats to Pattaya turning into China Town.  ????  

One of the great services that TVF facilitates, for which we may all be grateful, is the ability to rely upon doomster predictions as excellent inverse indicators. The rule has held true since at least 2003 and still does today. Many amusing examples might be given, but just recently we were confronted with an imminent RIOT on July 31.

 

 

Which meant, as I said in the thread, that we needn't worry about any riot. ????

 

Hence we needn't look forward to Pattaya Sihanoukville at any time for at least the next 5 years and can plan accordingly. That means that exchange rates, gov't policies, EEC, East Europeans, and who knows what else (except TVF Economists, of course) will have an effect of some sort. Previously we were told that all the international tourists are all going to "better places" anyway with 27-baht Tiger beer.???? As noted, I myself lack the impressive credentials, or barstool, to make all these authoritative global predictions, so this is most helpful for knowing what isn't going to happen.

 

 

 

Edited by BigStar
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11 minutes ago, BigStar said:

Previously we were told that all the international tourists are all going to "better places" anyway with 27-baht Tiger beer.

January 2020 statistics. (pre virus)

 

http://www.vietnamtourism.gov.vn/english/index.php/statistic/international?txtkey=&year=2020&period=t1

 

"International visitors to Viet Nam in 1/2020 estimated 1.994.125 arrivals, increase 16,6% over 12/2019 and up 32,8% over the same period last year. 2019. Total international arrivals in 1 months reached 1.994.125 arrivals, increasing 32,8% over the same period last year."

 

Thailand still gets more tourists than Vietnam, which are mostly zero baht Chinese and Indians, but for how much longer?  Increase of 32% on the same period the year before.  Quite impressive.    

 

And what of the Golden Egg Layers, looks like many have found new nest.  ????

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