Thread: New Condo in Pattaya

Spain is full of coastal sites like this, start but never finnish. Their is one just by my buddies place, footings then nothing for 4-5 years now.
But best of luck

^ I think Spain is a different country

the reasons for failed developments are different too

Never buy first ,try renting if not in the particuilar block but the same area ,once you know you want look at lots of properties secondhand ,the agents have thousands of condos ,houses, villlas, everything and many people desperate to sell
Keep your money and take your time

Originally Posted by donald36

try renting if not in the particuilar block

that would be difficult as it is not built yet

Originally Posted by DrAndy

Originally Posted by donald36

try renting if not in the particuilar block

that would be difficult as it is not built yet

True but does "the same area" cover the point I am making

^ apart from stating the blatantly obvious scenario that all people with some knowledge of condos in pattaya will make, that is rent, rent,rent. This project is unique, in a unique location, so renting is not an option in this particular case, but nonetheless good advice, thank you try reading the entire post before spurting off your worldly knowledge.

Originally Posted by Chang yai

Andy, yes of course I'm naive when buying a condo in Thailand. I've bought and sold properties a lot in australia and it's always about location. This development has a great location. And it's very pricey. Very upmarket. Unfurnished. Good idea about checking the appliances though, I will check that out. I went the display. I think I will go back in march to see how construction is going and finalize it then if I'm still keen, which I am.

'Naive' doesn't do it justice. The Condo business is a scam set up by the Thai government and developers to rob dumb foreigners, that describes it more accurate. For starters, the 49% quota. Thais don't buy at those prices, they can buy land and build a large house on it for less. The result is, that only 30 to 40% of the units of a new development are actually sold, no matter what the marketing claims. Down the line, this vacantness creates a lot of trouble, like lack of funding for maintenance.

^ what about the countless developments that are fully sold out, like all of Raimonland's or Pruksa's for example?

What you say does not apply to all or even most.The quality developments are always 100% sold. Some of the low range developments as you say do not become fully occupied.