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It's just a suggestion but why don't you invest in the Stock Exchange of Thailand? Some of he major banks have mutual funds investing in the top Thai companies, some with no taxation for farangs. It should give you a superior return compared to the Pattaya area condo market with it's thousands of newer units coming online every month - yet they can't sell the existing new units. This condo fever can't continue forever - the signs are everywhere. Do you really want to spend your days here collecting rents, hearing excuses and fixing things with multiple units? If still interested in condos wait until after a correction and buy them cheaply - as mentioned previously they are way overpriced at the moment.
Good luck.
Posts I've Made
In Topic: Buying And Renting Condos, Your Experience?
2012-05-07 09:02:43
bmanly, on 2012-05-07 05:53:26, said:
WinnieTheKhwai, on 2012-05-07 01:17:34, said:
Out of curiosity, what do typical condo units (say the 48 sq meter Viewtalay one) in a somewhat downtown (incl. Jomtien, or in between Pattaya and Jomtien) go for? Two million or so?
My friend has 2 x 48sqm condos in view talay 7. Both are high floors with uninterrupted panoramic views. His personal condo owes him 4 million. He bought it as an empty shell but fitted it out with 5 star fittings. The second condo he paid 4 million as well for it, he currently rents that one for 22,000 baht per Month. It is the views and plush fittings that bring up the price, there are cheaper ones in the building. To be honest, when I visit him there I don't feel like leaving it's so good there. Has a really nice pool and restaurant also, 2 laundries downstairs, small shops etc. He is very happy living there.
If your friend is happy with his condos that's great. The rental condo will take 15 years to recoup the 4 million baht not including interest, other costs, unrented months or upkeep. If he paid cash he could have collected 15 years on another investment. My choice is to rent because I can leave if terrible neighbors move in, I need a change of scenery or location, the condo association runs the project poorly or any number of other reasons. I never know what I am going to be doing in 6 months never mind 15 years and with the Pattaya area market saturated (and many more being built) I would not want to have to sell.
In Topic: Buying And Renting Condos, Your Experience?
2012-05-04 21:53:49
pauljones, on 2012-05-04 07:08:22, said:
Investing in Thailand?
What about the corrupt realtors, property managers, board of directors, building staff, repairs men, and dodgy customers?
NEVER invest here unless of course you plan on walking away from it all.
What about the corrupt realtors, property managers, board of directors, building staff, repairs men, and dodgy customers?
NEVER invest here unless of course you plan on walking away from it all.
What's wrong with investing in Thailand? Have you seen the results of the stock market performance in many western countries compared to the Thai SET (stock exhange Thailand)?
I can't disagree with your real estate assessment at this point in time - too many people trying to get rich from a market that has put too many poorly planned units onto an already flooded market.
In Topic: Buying And Renting Condos, Your Experience?
2012-05-04 02:53:50
radiola, on 2012-05-03 22:17:39, said:
who cares, i am not defending myself, btw, go to sleep, you have to go to work in the morning, ha ha ha
i am making 3k from internet dude, working 2, 3 hours per day, you wish you could do that, yes special people can do that and not leech from a fat boss who eats all the profits and leave them with bare minimum, good luck
i am making 3k from internet dude, working 2, 3 hours per day, you wish you could do that, yes special people can do that and not leech from a fat boss who eats all the profits and leave them with bare minimum, good luck
Radiola - with your self acclaimed ability to make 3K baht a day (in 2 - 3 hours) and not working for "the man" why don't you just work an extra 30 minutes a day and rent or buy a fantastic condo or house in a really nice area??? It sounds like you have been very successful with your degree and many other things. I think you deserve it.
If the stress of working 2 1/2 - 3 1/2 hours a day is too much please advertise for a helper.
