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Patong - The Wake


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I think Backside Bistro is one of very few recent successful businesses in Patong.

 

The reason they're successful is that they've differentiated themselves from the competition by providing a better product at a lower cost. We've eaten there probably 15-20 times in the last 6 weeks - both lunch and dinner. Great service, excellent food, a nice environment and probably the best prices in town.

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9 hours ago, KarenBravo said:

Backside Bistro!

Bwahahahaha!

Yeah.....the name doesn't do much does it, but think it came from the previous location at the back and side of an establishment and DrDave rates it so I must try it soon.

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12 hours ago, xylophone said:

Yeah.....the name doesn't do much does it, but think it came from the previous location at the back and side of an establishment and DrDave rates it so I must try it soon.

Yep, great name; all it needs is prefixing with ‘Mai’. :smile:

 

Hope it lasts until Xmas…those meatballs look pretty good…

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A wet day, so did a little shopping in Big C and it was fairly crowded with the majority of shoppers being Chinese of course and as I peered into their shopping baskets to view the array of absolute crap, I wondered why they would come all this way just for that?

 

But it set me thinking about an article I had seen in a newspaper (the New Zealand Herald) and it stated thus: –  Jane Lu, Australia and New Zealand chief for Chinese real estate business Juwai, said for Chinese buyers, New Zealand ranked as the sixth most popular country globally, behind the United States, Australia, Thailand, Canada and the United Kingdom........

Despite tighter capital controls this year, 57 per cent of Chinese still say they will increase their overseas investments over the next two years, with more than 60 per cent planning to invest specifically in residential real estate," she said.

"Their top goals are risk diversification and their children's education.

 

So Thailand was the 3rd most popular investment destination, mainly for residential real estate and as regards Phuket, there appears to be quite a few Chinese who have invested in the Patong Bay Hill Resort, this especially as it advertises a 7% return for 15 years, obviously hoping for "risk diversification".

 

Now there are some strings attached to this in as much as they can only use the place for one month year and the rest of the time it is rented out on a hotel type basis.

 

So what happens at the end of 15 years? I have been told that the company will offer to buy the apartment back from the investor.

 

But as one successful real estate investor/seller here has said, "what will it be worth in 15 years time knowing the building quality of Thai apartments and the reluctance of just about anyone here to buy property this old?". He then added that it's all very well for the advertising to promote this "deal" however knowing the business like he does he would have absolutely no confidence in them honouring it that far down the track.

 

So risk diversification may be high on the list for the Chinese investors, but then again TIT!

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3 hours ago, xylophone said:

<snip>

 

So what happens at the end of 15 years? I have been told that the company will offer to buy the apartment back from the investor.

 

But as one successful real estate investor/seller here has said, "what will it be worth in 15 years time knowing the building quality of Thai apartments and the reluctance of just about anyone here to buy property this old?". He then added that it's all very well for the advertising to promote this "deal" however knowing the business like he does he would have absolutely no confidence in them honouring it that far down the track.

 

So risk diversification may be high on the list for the Chinese investors, but then again TIT!

 

There's no way that any condominium scheme involving a "guaranteed" annual ROI, and/or buyback is a safe investment.

 

What happens in the event that the tourism market collapses for a period of time (think SARS, Bird Flu, political unrest, etc)? Do potential buyers really think they'll receive their "guaranteed" return? What if rental market rates in the future can't support the operational expenses, management fees and the "guaranteed" payments to the owners - who do you suppose will be the last to be paid, if ever?  What if the real estate bubble bursts? What if the developer/management company declares bankruptcy or sells the project?  There are just so many things that could go wrong, making this a high-risk investment.

 

As for Prab's Patong Bay Hill project, it took nearly 6 years to complete (I'm not sure if both of the final 2 buildings are 100% complete yet, but construction started on them more than 5 1/2 years ago. I'd hate to be one of the people that bought into that project early on, and had to wait years for their unit to be completed. I've often wondered who the "big money" investors were behind that project. The developer and/or backers seemed to have no concept of the time-value of money,  with the project dragging on for years with no ROI.

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On 25/06/2017 at 0:25 PM, Monkeyrobot said:

Full of Chinese, one of them walked up to me and started taking a photo of the shrimp yellow curry I was eating, strange people and the tuk tuk drivers don't like them either, they really haggle on the price, 

I see your points fully....but allow me to have a sub minus 0 level of sympathy for the Thai tuk tuk/taxi crooks!

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On 8/27/2017 at 7:36 PM, xylophone said:

A wet day, so did a little shopping in Big C and it was fairly crowded with the majority of shoppers being Chinese of course and as I peered into their shopping baskets to view the array of absolute crap, I wondered why they would come all this way just for that?

 

But it set me thinking about an article I had seen in a newspaper (the New Zealand Herald) and it stated thus: –  Jane Lu, Australia and New Zealand chief for Chinese real estate business Juwai, said for Chinese buyers, New Zealand ranked as the sixth most popular country globally, behind the United States, Australia, Thailand, Canada and the United Kingdom........

Despite tighter capital controls this year, 57 per cent of Chinese still say they will increase their overseas investments over the next two years, with more than 60 per cent planning to invest specifically in residential real estate," she said.

"Their top goals are risk diversification and their children's education.

 

So Thailand was the 3rd most popular investment destination, mainly for residential real estate and as regards Phuket, there appears to be quite a few Chinese who have invested in the Patong Bay Hill Resort, this especially as it advertises a 7% return for 15 years, obviously hoping for "risk diversification".

 

Now there are some strings attached to this in as much as they can only use the place for one month year and the rest of the time it is rented out on a hotel type basis.

 

So what happens at the end of 15 years? I have been told that the company will offer to buy the apartment back from the investor.

 

But as one successful real estate investor/seller here has said, "what will it be worth in 15 years time knowing the building quality of Thai apartments and the reluctance of just about anyone here to buy property this old?". He then added that it's all very well for the advertising to promote this "deal" however knowing the business like he does he would have absolutely no confidence in them honouring it that far down the track.

 

So risk diversification may be high on the list for the Chinese investors, but then again TIT!

 

I think you will find the Chinese are doing everything / anything they can to get their money out of China these days.

 

It's not that Phuket is a good investment for them, it's because other countries are tightening up on foreign investment laws, particularly in the real estate sector, and particularly in relation to Chinese investors.

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29 minutes ago, DrDave said:

The closed Italian restaurant on Nanai formerly known as LoScoglio (and Sutin before that) has a new sign with the name name Valerio & Antonio. They've had a sign on their pizza oven near the street advertising for a "pizza man" for a couple of weeks now - apparently no luck finding someone who can make pizza?

Actually DrDave, Valerio who is now a part owner according to the sign, has owned and part owned several Italian restaurants in Patong and he can make pizzas!!! 

 

I wonder if he will be able to lift the fortunes of this "dead in the water" restaurant, this especially as one just opposite it has recently closed.

 

"I've noticed 3 different small guesthouses currently under construction on Nanai. One would think with the glut of empty rooms, and rock-bottom rates, the last thing someone would do is build another guesthouse".

 

I do know of a couple of smaller buildings which are under construction, however they seem to be the small apartment/Thai style accommodation, maybe for locals and farangs living on a budget?

 

 

Edited by xylophone
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Well, the wake can wait, at least for a while in Bangla Road at night, whereas during the daytime, it’s pretty well dead anyway.

 

Friday evening and Bangla Road itself was busy with the usual venues being full (mostly those with live music as I’ve said before) and many of the bars on the left-hand side of the road heading down towards the beach were doing good business.

 

Got to thinking about this and I do remember when I first came here that the term “bar mongers” was used and as I recall it referred to the farangs who came here in search of bars where they could pick up a girl for a small bar fine.

 

There were plenty of sois where this was the big drawcard, including Sois Eric, Crocodile, Lion, Tiger, Easy, Gonzo to name but a few. Then the demographics changed and that along with the GFC, or because of it, meant fewer bar mongers and more bars closing and more sois closing, which is the case now.

 

Now the bars on the left-hand side of Bangla are doing very well, namely the likes of Kangaroo bars, Sunset, Shipwreck, sometimes Blue Lotus, Heroes bar and another whose name escapes me (also the Aussie bar on the other side).

 

I don’t know whether I’ve got this right or not, but I don’t believe any of these bars have staff who are available on bar fines. Perhaps an after-hours dalliance might be on the cards, but the girls are not on offer the same way that they were in the old sois.

 

So the days of the bar mongers driving the bar trade seems to have died off and that would explain why Soi Freedom has been so poorly serviced by these guys and indeed there were probably more “ping-pong and live f@cking show” touts out on Bangla than there were punters in Soi Freedom on Friday night!

 

I was pondering that as I sat in a bar opposite the Lion bar (a very large bar/space) which had a live group in it, but was only playing to a handful or two of punters, and whilst that was going on I observed a balcony above that bar which advertised “Moulin Rouge” and a solitary Russian lady (because that’s the main drawcard for this place) walking round and round a pole.......... no dancing, no acrobatics and she was fully clothed, but she had a look which suggested that she would rather be somewhere else, or should be carted off to a home for the bewildered!

 

She was replaced by another woman of exactly the same ilk and in the 30 minutes or so that I sat in the bar talking to friends, I observed absolutely no one going into the entrance to that place. It was then that my friend reminded me that we had been to the very first one that opened up alongside of old Tiger about eight years ago and we chuckled at the experience as we recalled it………….a small group of us went into the original Moulin Rouge and were extremely surprised to be charged 250 baht for a small beer, but decided to stay anyway.

 

About five minutes after we arrived a girl came out from behind some curtains, climbed up and down a pole a few times and gyrated a little, doing some sort of gymnastics and then came over to us and spoke to my friend asking for a 100 baht tip from all of us (don't forget this was eight years or so ago).

 

My friend replied something along the lines of well the beer was expensive enough and you were only there for five minutes so no. So she replied, “well then you can just <deleted> off”, so we did.

 

At a guess I would say the Russian influence here at the moment is nowhere near what it used to be, but then again I could be wrong.

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  • 2 weeks later...
On ‎05‎/‎09‎/‎2017 at 12:31 PM, DrDave said:

Work has resumed on the medium-sized apartment/condo building just up Hasip Pii from Nanai. This was started 8 or more years ago, and has been dormant for almost that long. It looks like they've just added the final story on the top. Hopefully work will continue, and it won't rejoin the ranks of the never-to-be-completed eyesores in Patong.

On that note, DrDave, and as you previously mentioned, there is still some building going on around the place, seemingly oblivious to the unfinished and abandoned places which now litter Patong.
 
I came across this one a few days ago, called, "The Crystal Patong" and it is completely empty and has been for some time by the looks of the building, yet it is a fairly substantial and completed place, but no occupants at all and some of the fittings showing signs of age.
 
Not 100 m from it is the shell of another would-be apartment block, taking its place amongst the other derelict/rotting follies of Ace Condominiums, The Park, Dinso (and to be fair to this one, there does appear to have been a small amount of work done on it over time, yet it has been three years or more since started, and still not completed) and other places in a similar state of dilapidation.
 
On the subject of The Crystal, does anyone have any idea why it has remained empty, or the history behind it?

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Edited by xylophone
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  • 3 weeks later...

XP said: "Not only that the place was at least 40% occupied by younger Chinese and they were swigging back the Chang beer like there was no tomorrow, whereas earlier the bar had only been about 50% full in total."

 

Drinking like that would make me wonder whether they were in fact Chinese and not Malaysians.

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Is it only me or maybe my memory isn't more that good? 

 

I can't remember when there were so many tourists in a october in Patong.

Like today the beach is full with Pakistani, India, Arabs, Chinese......

Normaly October/November are my favorite month of the years with only small number of tourists. But this year not. 

 

Stumbled today over an old pic from Patong when it was Paradise on earth. Sigh sigh.

 

30605174oc.png

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52 minutes ago, schlog said:

Is it only me or maybe my memory isn't more that good? 

 

I can't remember when there were so many tourists in a october in Patong.

Like today the beach is full with Pakistani, India, Arabs, Chinese......

Normaly October/November are my favorite month of the years with only small number of tourists. But this year not. 

 

In the past few years, I noticed an increase in the number of tourists in mid-October. I think this is due to people trying to beat the high-season rates that go into effect on Nov 1st at most hotels.

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4 hours ago, SooKee said:

XP said: "Not only that the place was at least 40% occupied by younger Chinese and they were swigging back the Chang beer like there was no tomorrow, whereas earlier the bar had only been about 50% full in total."

 

Drinking like that would make me wonder whether they were in fact Chinese and not Malaysians.

Hello Sookee, good to see you back!!

 

Get your point, however they were Chinese as I spoke to a couple of them and have seen this before in Smiley Bar........maybe because the singers in the band know a couple of Chinese songs and word gets round?

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2 hours ago, schlog said:

Like today the beach is full with Pakistani, India, Arabs, Chinese.....

Most of them "cheap Charlies" I would warrant, and not the sort that are going to lift the monetary fortunes of Patong or the local businesses!

 

On that subject, two days ago I noticed that three food cabins (for want of better terminology) on the Banzaan side of Jungceylon, just outside of Starbucks, had been closed. It wouldn't surprise me if the Jungceylon management had decided to close them because they offered competition to their newly built row of food stalls, just round the corner??

 

Will be interesting to find out what's going on there?

 

 

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  • 2 weeks later...
On 22/10/2017 at 6:01 PM, xylophone said:

the place has been renamed Phuket Live,

Sorry it is now called "Live in Phuket".

 

And other snippets:

 

--The Backside Bistro seems to be getting a good following and last night it was about 75% full.

--Don's Pool Corner "bar" which has had very few customers is up for sale and wouldn't be surprised to see the bar further along Nanai, which he fairly recently opened, go the same way as almost always devoid of customers.

--On that note the vacant lot next to it which has been turned into a couple (or more) bars has had little to no patronage, and the singer cuts a lonely figure perched in the middle playing to no-one.

 

At one time Nanai was home to a thriving expat community of Brits, Aussies, Italians, some French and a few Kiwis with the likes of the Offshore Bar, Dons BBQ and even the Nanai Sports bar, pulling in the punters and restaurants such as Capannini bustling.........but all changed now with the GFC and poor exchange rates, change in demographics and even a few long termers swapping it for Pattaya, Cambodia and Vietnam.

 

 

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On 10/25/2017 at 11:29 PM, xylophone said:

Sorry it is now called "Live in Phuket".

 

And other snippets:

 

--The Backside Bistro seems to be getting a good following and last night it was about 75% full.

--Don's Pool Corner "bar" which has had very few customers is up for sale and wouldn't be surprised to see the bar further along Nanai, which he fairly recently opened, go the same way as almost always devoid of customers.

--On that note the vacant lot next to it which has been turned into a couple (or more) bars has had little to no patronage, and the singer cuts a lonely figure perched in the middle playing to no-one.

 

At one time Nanai was home to a thriving expat community of Brits, Aussies, Italians, some French and a few Kiwis with the likes of the Offshore Bar, Dons BBQ and even the Nanai Sports bar, pulling in the punters and restaurants such as Capannini bustling.........but all changed now with the GFC and poor exchange rates, change in demographics and even a few long termers swapping it for Pattaya, Cambodia and Vietnam.

 

 

"Nanai was home to a thriving expat community of Brits, Aussies, Italians, some French and a few Kiwis" - "but all changed now with the GFC and poor exchange rates, change in demographics and even a few long termers swapping it for Pattaya, Cambodia and Vietnam."  - I would also add the visa crackdown that turned many away to the neighboring countries you mentioned.

 

I would also suggest many Brits here will struggle, post Brexit, when the GBP takes a hit.  So, Phuket can expect to lose a lot more of them in the future.

 

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6 hours ago, NamKangMan said:

"Nanai was home to a thriving expat community of Brits, Aussies, Italians, some French and a few Kiwis" - "but all changed now with the GFC and poor exchange rates, change in demographics and even a few long termers swapping it for Pattaya, Cambodia and Vietnam."  - I would also add the visa crackdown that turned many away to the neighboring countries you mentioned.

 

I would also suggest many Brits here will struggle, post Brexit, when the GBP takes a hit.  So, Phuket can expect to lose a lot more of them in the future.

 

 

Exactly correct. Other than the GBP already took a 10+%  (near 15%) hit You saying it will get worse. 43 Baht to GBP today, and that's really bad.

 

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7 hours ago, LivinginKata said:

 

Exactly correct. Other than the GBP already took a 10+%  (near 15%) hit You saying it will get worse. 43 Baht to GBP today, and that's really bad.

 

 

IF Brexit happens, and if it does, there's every chance it will be a "hard Brexit" then yes, my prediction is the GBP will be hit harder. 

 

Of course, this is not the fault of the Thai tourism industry, but it certain will not help the Phuket economy, which is already in decline. 

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13 minutes ago, LivinginKata said:

This end of the universe link might be appropriate  ....

 

 

 

Ahhhh, remember all the posts ridiculing the "They are killing the Golden Goose" posts?

 

I ask, where are all those ridiculing posters now????  :cheesy:

 

There was only so long Phuket could get away with putting lipstick on the Phuket pig. 

 

It's lucky for Phuket that the Chinese currently like pigs wearing make up, but when they no longer continue to do so, where to from there for Phuket????

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