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In Topic: Racism
2011-07-14 23:06:19
Tokay, on 2011-07-14 21:36:28, said:
I wish every country in the world would reciprocate Thailand's kind hospitality and ridiculous price gouging / double pricing.
And apply it to Thailand's highest gov officials traveling abroad and to the lowest paid labor worker and everyone in between.
That would be fair.
"Welcome to Universal Studios - $10 for Americans and all other nationalities / $300 for Thais"
"Would you like to rent a room? It's $75 a night for all nationalities except Thailand. For Thais it's $400 a night."
Yea, I like the sound of that.
And apply it to Thailand's highest gov officials traveling abroad and to the lowest paid labor worker and everyone in between.
That would be fair.
"Welcome to Universal Studios - $10 for Americans and all other nationalities / $300 for Thais"
"Would you like to rent a room? It's $75 a night for all nationalities except Thailand. For Thais it's $400 a night."
Yea, I like the sound of that.
As an American when I come to Thailand I get to stay 30 days free. When a Thai applies to come to America it costs $100 (over 3000 baht) with no guaranteed acceptance. So who is gouging who?
When I use our National Parks, local zoos, libraries, parks, etc. it is free but everyone else pays. We charge tourists more for hotels (tax), cable cars, etc. Perks for citizens, and double pricing exists everywhere so get over it.
In Topic: Are Houses Overpriced In Pattaya?
2011-04-24 17:04:26
nikkoid66, on 2011-04-24 12:56:02, said:
Pattaya is having the same problem like Florida. The house are overpriced by x3 time or more. Where I live every house is for sale for less than they bought the house 2 years ago.
Stay away from buying until it reaches the bottom (in 10 year?)
If I compare Florida and Pattaya, the housing price is lower in Florida than in Pattaya. Also in Paris suburb you can find small house for the same as in Pattaya. There is something wrong here.
- you do not own the land.
- you have to bring huge cash to buy (no bank will loan to a farang)
- prices are too high.
- construction quality is really bad, just check the electric, in Europe or USA we use use triphase, here it is monophase. They also uses low cost building material from China and foundation and not strong enough your house will fail after 5 years.
Conclusion, the bank/builders are doing the same business as they did in the USA, they ask big upfront $$ in the hope you will fail on your payments and they will get the house (and keep the cash).
Stay away from buying until it reaches the bottom (in 10 year?)
If I compare Florida and Pattaya, the housing price is lower in Florida than in Pattaya. Also in Paris suburb you can find small house for the same as in Pattaya. There is something wrong here.
- you do not own the land.
- you have to bring huge cash to buy (no bank will loan to a farang)
- prices are too high.
- construction quality is really bad, just check the electric, in Europe or USA we use use triphase, here it is monophase. They also uses low cost building material from China and foundation and not strong enough your house will fail after 5 years.
Conclusion, the bank/builders are doing the same business as they did in the USA, they ask big upfront $$ in the hope you will fail on your payments and they will get the house (and keep the cash).
This is a long thread. Go back and read it in it's entirety and we understand the economic forces at play in Pattaya are not same as Florida. There are no banks, bad loans, no foreclosures, no property taxes. What there is are cash buyers, no property taxes (oh, did I say that?), a business tax on property of 3.3% if held less than 5 years. All these factors influence sellers to keep properties until the right offer comes along.
In Topic: Are Houses Overpriced In Pattaya?
2011-04-23 14:03:28
Awohalitsiktoli, on 2011-04-23 10:35:23, said:
banglay, on 2011-04-23 07:26:33, said:
Not everybody needs or wants to make money from real estate investments ....People buy here more as a life style choice....I assume rightly or wrongly that you are here on a fact finding mission to gather facts and information to write a Thesis on" how too be boring and repedative on a subject you seem to have little knowledge of" ...one thinks you will pass with honours 
.....
.....True, not every person needs or wants to make money from real estate. But the discussion has drifted and is centered on people who do want to make money in the real estate market. Personally, I am far more interested in farang psychology and not what Thais are doing. Like many others, I see the market as "down" and almost "out." It is an odd market that is pretending to ignore basic economics. But that can't last forever. PattayaParent has tried to shed some light on basic economics: the price is driven by what buyers are willing to purchase at, not by what sellers dream about. Rich people, of course, have the luxury of not really caring that much about how much money they are spending. But most buyers in this market are not rich or even near being rich (most rich people, for the most part, ignore this area). Most people are looking for a fair price that reflects real market conditions and not imaginary market conditions as envisioned by sellers. I think this applies to Russians as well. To many sellers/investors the "cement blocks" are long-term investments (better option than putting your money in a Thai bank). They believe that a miracle will happen. I think the "miracle" already happened several years ago and is now over. High-end condos--top floor facing the ocean will, however, most likely retain their value. The demise of Ocean 1 really should have taught the rose-colored glasses brigade a lesson in real-estate economics. It should have taught them also that no amount of hype can save a down market.
In Topic: Are Houses Overpriced In Pattaya?
2011-04-22 07:16:06
Awohalitsiktoli, on 2011-04-22 06:16:00, said:
tropo, on 2011-04-22 05:56:23, said:
ThaiBob, on 2011-04-22 04:23:57, said:
I'd like to know the answers too. Poster, Awohalisiktoli, is not alone in his opinion (or obsession) re Pattaya houses and condos but I do not understand why these posters are so angry and bitter. They constantly compare Pattaya to other re markets (primarily from their home countries) and do not realize Pattaya is unique in that it is a resort town and that all foreigners here have purchased with hard, cold cash; no financing, no mortgage with no cash down, no adjustable rate mortgages (all the things that led to the property bubble in America).
This is exactly the reason why there isn't too much extreme discounting going on. Only desperate people will fire sale their properties and there just aren't as many desperate people here as Awohalitsiktoli would like to see. Doesn't that name sound Russian?
Please provide us all with you legal names and social security numbers and national IDs. Thank you. Privacy issues aside, the reason there is not a lot of extreme discounting is that investors bought into a "dream" and are now facing a difficult and impossible situation. So, they refuse to face reality and continue to wait for a miracle to happen (e.g. thousands of wealthy Russians will invade the area and buy up everything at inflated prices). It is very simple to see and understand and has nothing to do whether I or any other expat is angry and bitter, which I am not (although I am upset at the trajectory Pattaya and Jomtien are on). I was smart enough not to get fooled by the real estate hype. Many expats who think exactly like I do. I am sorry to inform you of this reality. We strongly believe too many crappy "concrete cell" units were built in a market with too few buyers. We strongly believe that the market should have collapsed already, but because of the reasons you keep harping on (no financial reason to sell) it remains (at least at the surface level) as being immune to the global downturn. You can wait and wait and wait and wait for the miracle to happen. My main point is that you could have invested in a far more thriving market and probably made a huge killing three times over. Instead, you invested in a dream and re now forced to wait, and wait, and wait, and wait.....<snip>
Your answer and tone do not surprise me. Must have struck a nerve. No one cares about your personal information or your privacy issues. You are an anonymous poster as far as we are concerned. But Banglay's questions are valid since people try to understand your mindset and whether you should be taken seriously (or another Jori). Remember that these are our homes for many of us and one man's "crappy concrete cell" is another man's castle.
I think most of us are here for the long-haul and Pattaya is our home whether you like it or not. Your point about investments is of no concern to me or many like me, as making "a huge killing three times over" is not important at this stage of life.
