There seems to be a race to the bottom - Who can make the cheapest smallest condo.
Some time back I was quite surprised at seeing 1 bedroom condos of 36 square meters being promoted, now built.
Since then they appear to be getting even smaller.
Out of curiosity I visited the showrooms of a Bangkok developer starting out in Pattaya.
Condo sizes 26 sq. mtr. and 34 sq. mtr.
Quite how you make a 1 bedroom condo out of 26 sq. mtr staggers me but true enough, they had.
Separate bedroom, a living room including kitchen area plus a small balcony.
It actually looked very nice.
The 34 sq.mtr equivalent was better of course and they had a studio of 34 sq.mtr that looked the best of the showroom condos.
Another developer is advertising 1 bedroom condos of 22 sq mtr.
I`m left wondering when a developer will introduce a sub 20 sq. mtr 1 bedroom condo.
Fine for BKK Thais visiting for the weekend and indeed holiday makers but to actually live somewhere so small ?
Just casual observations
Bet the prices weren't as small though!
For a similar price to a one bed apartment in Pattaya I've been looking at a new development in Chanthaburi. Detached 3 bed villas on a new estate with a communal pool and gym complex and 24 hour security are going for £40k fully furnished.
The condos I looked at were being advertised at/from 1.1 mill. baht.
I asked the price of the 34 sq.mtr 1 bedroom unit I was in,
It was fully furnished & fitted out so asked if that included furniture.
" No " extra 300K.
so 1.85 mill, near enough the same as the house you`ve mentioned.
Another developer has Wong Amat studios starting at 5 mill( baht) or just over £ 100 K which to me seems expensive( for what you are getting) as that could buy a similar if not better place in some parts of Europe.
I can't remember where I read it but I saw a post somewhere with an American complaining. That property in Pattaya was more expensive than Las Vegas for what you get for your money.
Thing was nobody actually knew who was going to live in these apartments and pay around £2,000 per month rent that was needed to service the investors mortgage, service charges etc. and maybe turn a small profit.
Turns out virtually nobody was that daft. Plenty of apartments built 2007 sold for £170,000 now re-possesed and sell for £70,000. No wonder the banks are skint, but at least they were ripping off punters in other "investments" to off set the risk. Although it looks like thats about to go tits up.
I saw lots of Thai villas on the dark side for less than 1M. 2 bedrooms, maybe 2 bathrooms,, car space....If you were living there I think its a better option than a small condo somewhere like Pratumnak. Too tempting to hit the bars every night. Just have to overcome the transport problem.
The pits would be one of those developments south of Threppasit, middle of fucking nowhere and only piss-poor cunts for neighbours.
Yes, some of those dark side houses seem much better value compared to condos.
I saw one, had been sold at about 1.1 mill, 2 bedroom, reasonable size living room and separate kitchen, yard area for parking or BBQs:solobbq::feast:
A friend rents a similar one, 10 K baht a month, gets a motorcyi taxi when he wants to come in to town, commented that it was cheaper travelling in to town than return.
If all the off plan condos planned for/advertised for at Pratumnak get finished that is going to become somewhat crowded.
Some being advertised in Thai and Russian language on the local TV station currently.
More planned development on 3rd road being advertised also.
The what I guess are computer graphics make the places look wonderful.
" complete with roof top swimming pool, fitness centre" etc.etc., when they haven`t even broken ground.
Lovely clean scenic beaches shown, almost always with some fit looking birds walking along or sunbathing.
Some slick marketing for sure.
I see there's been a similar thread running on Talk.
The point is well made there, that you can't really own a house. And therefore can't bequeath it, should you wish to. It will pass to whoever helped form the company that you owned 49% of, ie your Thai lawyer or his nominee.
Sweet deal that.
On a slight tangent, it seems Fair Properties, who handled most of the dog boxes in the VT Jomtien projects, have gone under/done a runner. What a pisser to turn up for your 6 month stay and find the agent had ceased to exist.
Good thing there's plenty of rooms vacant :)
I go through regular mood swings regarding property (especially in Pattaya).
Always liked Naklua and sort of decided to keep my eyes open for something nice condo wise.
Walked along Wongamat beach one early morning with Nit.
It was disgusting. Rubbish everywhere. The sea was full of floating crap, plastic bags and the beach was littered horrific.
Walked up by Santuary of Truth and looked in TW Condo's which are selling for 2M baht or renting for 10k a month.
OK, you get a sea view but knowing LOS like I do, the cleaning service side will go downhill once everything is sold.
Gone right off the idea and will stick with my UK house.
If they are renting for 10,000B it's a no brainier to me. Why pay 2 million and maybe get stuck with a condo that might go tits up one way or another? In those circumstances better to rent and keep your dosh in your UK house.
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