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Old 10-21-2013, 05:59 AM   #21
Frankie

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I was talking to a bloke who has bought a condo in View Talay 7 (North end of Jomtien) which was completed a couple of years back. He bought it when the development had just been completed. Since then sales have been abysmal, only 3 condos sold on the same floor as his.

The developer has now decided to convert the unsold condos into hotel rooms and create a condotel. He is dreading this as generally owners/long term tenants are quieter than holidaymakers. Plus the holidaymakers are likely to be predominantly Russian who are usually a right pain in the arse.

He doesn't expect to ever get his money back and can't see someone even wanting to buy the condo once the hotel side is up and running.
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