A building too far

[arsenal]

On a recent visit I noticed that building work on one of the many new luxury apartment blocks had stopped completely. The one near Bali Hai Pier, shaped like an upside down letter P. No work was in evidence and it already looks as though it is starting to decay with the concrete looking worn and the metalwork rusting and buckling.
While the building itself is not unnatractive it's location destroys the view of the bay from most angles. Anyone who has bought off plan may have to wait a considerable length of time before their 'taking beachfront living to a new level' condo is ready for occupancy. And when they do, they will find the noise from Walking Street will keep them awake for most of the night.

[Up2U]

Work on the Waterfront was suspended last year due to legal challenges (building per approved design, to close to water, etc.). Most of the challenges have been resolved but one last technicality remains and construction should resume in April.

http://www.waterfrontpattaya.com/

[thaiguest]

The tall building on Thapraya Rd near Buddha hill is also halted. One theory is that the authorities have realised that it's going to be higher than the golden Buddha and as W.C. once said this is something up with which they will not put. Why they didn't know this before now beats me.

The problem for the co-owners is that the small print excludes refunding money if the building is halted by the local authorities. (needs verification)

Another factor causing the cessation of construction is the collapse of the Russian economy. The target customers in the case of many building projects have been russians and they now have defaulted on their stage payments and won't be gracing these shores and beaches for some time to come.

I can imagine all you soft-hearted queens reaching for the tissue box.

[goji]

The problem for the co-owners is that the small print excludes refunding money if the building is halted by the local authorities. (needs verification)

That alone should be enough to stop most sensible people buying off plan.
Or alternatively, to view the off plan purchase as speculation, rather than investment.

[christianpfc]

The one near Bali Hai Pier, shaped like an upside down letter P.
I would say it looks like "h". If they added a cantilever at the top, it would look like a giraffe (compare Elephant building in Bangkok). A few months ago, I remember seeing construction workers in large number waiting for their bus home. (They finish work around 5 pm. Some of them construction workers look much better - slimmer, browner skin, cute face - than boys you see in bars.)

I saw construction workers at "Pre-Built" (coming from South Pattaya, the construction site left of the road, before you reach the public park and before TAT office) yesterday evening.

[thaiguest]

The one near Bali Hai Pier, shaped like an upside down letter P.
I would say it looks like "h". If they added a cantilever at the top, it would look like a giraffe (compare Elephant building in Bangkok). A few months ago, I remember seeing construction workers in large number waiting for their bus home. (They finish work around 5 pm. Some of them construction workers look much better - slimmer, browner skin, cute face - than boys you see in bars.)

I saw construction workers at "Pre-Built" (coming from South Pattaya, the construction site left of the road, before you reach the public park and before TAT office) yesterday evening.

These workers earn sh-t wages, eat little so they're slim/half starved, their skin is browner than bar boys because the sun doesn't shine in go-go bars, their future employment prospects are now dire but I bet they never in the worst throes of Yaa Dong realised that they're perceived as mere erotic elements in one falang's sexual fantasies.

[Up2U]

The majority of the work force is not ethnic Thai but come from neighboring countries.

[arsenal]

Further to this topic. The advert below for The Peak Towers claims that the views are guaranteed for life. I believe that's what they told the buyers of the twin apartmnent blocks in Jomtien. The ones that now have their view blocked by the huge Viewtalay building rendering them virtually worthless.

http://www.pattayaprestigeproperties.co ... =index.php (http://www.pattayaprestigeproperties.com/fast_find.php?fast_find=yes&id=4464&anchor=undefined&referer=index.php)

The problem for the co-owners is that the small print excludes refunding money if the building is halted by the local authorities. (needs verification)That alone should be enough to stop most sensible people buying off plan. Or alternatively, to view the off plan purchase as speculation, rather than investment.Or buying in Pattaya, full stop.

[Impulse]

Real estate is bought for several reasons. One is to keep an asset out of the radar of prying governments. Real estate does not have to be reported to the IRS in America. Only bank accounts with amounts over $10,000 at any one time during the year.