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Sabai Lodge being demolished

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On Beach Road Soi 2, bulldozers hard at work.

To compensate, perhaps, a new place, Shade Hotel, looks set to open and a big structure is going up between Sois 2 and 3.

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2 hours ago, newnative said:

It's encouraging that new hotels are still being constructed

Maybe the new hotel is Chinese owned.   Interesting times ahead.  

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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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Posted (edited)
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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21 hours ago, Leaver said:

Maybe the new hotel is Chinese owned.   Interesting times ahead.  

Yes, very likely because who else have the money to invest at this point in time?

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27 minutes 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 just sold a condo last month so that brings it down to 29,999.  There are still buyers wanting to buy.  I'm waiting for all these property bargains T-V posters are saying should be happening but so far I haven't seen any.  

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Posted (edited)
22 minutes ago, newnative said:

        I just sold a condo last month so that brings it down to 29,999.  There are still buyers wanting to buy.  I'm waiting for all these property bargains T-V posters are saying should be happening but so far I haven't seen any.  

Yeah, just Any Day Now. I'd love to invest in one of these bargains but where are they? When is Pattays gon' be Sihanoukville, exactly, or the Tunnel finally gon' flood or Central fall down? We just never get any dates from our authoritative doomsters and Condo Glutters. Predictions are always open-ended, so could be, oh, 40 years from now. Just keep yourself on edge until then. You've been warned!😴

Edited by BigStar
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