With all the over building of condo towers and complexes in Pattaya and with the slow down of the world economy will we ever see prices of condos drop in price in Pattaya? (There seems to be mixed opinions on this one.)
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With all the over building of condo towers and complexes in Pattaya and with the slow down of the world economy will we ever see prices of condos drop in price in Pattaya? (There seems to be mixed opinions on this one.)
Yes, condo prices SHOULD go down...but they won't. One might be able to snipe a good price due to FFS (Flying Farang Syndrome)...buying from a farang's estate. but Thai owners tend to just sit on a property rather than trying to get it sold. You also have the issue that foreigners with any sense choose to rent, and those foolish enough to buy are also foolish enough to over bid.
dboy
What's the "flying farang syndrome"?... it's not what I think it is is it?
I wonder... does anyone below every get injured?
If you're interested in buying a condo, it might be worthwhile to watch the local news. It's a common tactic in New York City to watch the obit listings in order to find real estate deals. Could work even better in Pattaya because the locals don't want to live in a place where someone died. FFS IS what you think it is:-) I wouldn't buy...car YES, condo NO. Real estate here is not like real estate in the west. Local Thais often do not pay condo association fees, and if a farang complains about this, life can be made difficult for the farang (There was a very recent case of this in Phuket). Thais like NEW buildings. In the west we consider older places to have "character". It doesn't work that way in Thailand. Real estate here does not age like wine..it turns to vinegar. If you MUST buy, Bangkok is probably a better bet than Pattaya, but within Pattaya, only buy a place with a good ocean view. And there MUST be no room to build another building that could potentially obstruct that view (re-assurances by a real estate agent on this or anything else are less than worthless). An ocean view IS worth money, so that could potentially protect your investment.Quote:
Originally Posted by Beachlover
dboy
If someone jumps out of their condo,why would it be any less desireable to buy? Just like they walked out and never returned.Now if they were murdered and blood was all over the place,that might be creepy. Whats all the worry of prices dropping? My condo will probably be worth triple what I paid a few years ago,if only because my currency will be worth less. Only buy a sea view is good advice.
One word...ghosts!Quote:
Originally Posted by rocket
Might not make any difference to us but just try to sell the place to a Thai....
In fact, try to sell anything secondhand to a Thai! No E-Bay or "Second-Hand Rose" over there.
Hmmm...I've sold two second-hand condos during my stay here. Both to Thais.Quote:
Originally Posted by kenc
Even Thais know that rabbits dont have ghosts .Quote:
Originally Posted by Beach Bunny
This rabbit ain't dead...he's going to be around for a loooong time to come.