Pattaya New Skyrise Residential Tower

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firecat69

Re: Pattaya New Skyrise Residential Tower

Post by firecat69 »

If the Chinese are not buying them , who is?
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Re: Pattaya New Skyrise Residential Tower

Post by Gaybutton »

firecat69 wrote:If the Chinese are not buying them , who is?
Considering the size of the units, King Brian and the leprechauns?

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Up2u

Re: Pattaya New Skyrise Residential Tower

Post by Up2u »

The largest sales demographic is Thai, followed by the Chinese and the Russians, of course, twenty years ago it was different. The big advantage for a Thai or foreigners buying in Pattaya as opposed to Bangkok is most condos are free-hold as opposed to lease-hold. It was important for me to have a deed in my own name. Over half the units in my building are now sold and they continue to sell slowly with no effort by the developer. Bangkok Thais buy them as holiday retreats and they remain unoccupied 90% of the time. As a reversal, I have friends with Bangkok condos that go there occasionally for getaways, otherwise they are unoccupied too. My old Bangkok hotel's deluxe room was 26 sqm without a balcony, so yes, these newer condos are tiny, but I can understand the design concept and purpose. My homeowners fees are only 35 USD per month as opposed to 210 using the Copacabana's proposed fee.
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Re: Pattaya New Skyrise Residential Tower

Post by Undaunted »

Up2u wrote:The largest sales demographic is Thai, followed by the Chinese and the Russians
The Russians are selling if they can to get real money as theirs has become almost worthless, I doubt they are buying today. If the Chinese are buying that is news to me. If so where? Yes, many Thais have bought for investments as rentals. I wonder if the new rental rules have changed some of their thinking.
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Re: Pattaya New Skyrise Residential Tower

Post by Gaybutton »

Undaunted wrote:If so where?
I have the same question. I have seen no evidence of the Chinese buying anything at all in Pattaya. Where are they buying?
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Re: Pattaya New Skyrise Residential Tower

Post by Gaybutton »

rocket wrote:The unit across the hall from me, bought by a Chinese man. Proof.
That doesn't prove very much, does it? It proves one Chinese man bought a unit. That hardly proves a large numbers of condos are being bought by Chinese
Up2u

Re: Pattaya New Skyrise Residential Tower

Post by Up2u »

I suspect the percentage of Chinese buyers might be even higher in Pattaya. Check out the the Base off 2nd Rd., very popular with the Chinese. Remember, the old Howard's building (remodeled then demolished) and the old Day-Night (Boutique), that was Chinese money.

https://property.bangkokpost.com/news/1 ... lercoaster

http://thailandproperty.news/chinese-bu ... d-property

https://www.bangkokpost.com/business/ne ... kok-condos
fedssocr1

Re: Pattaya New Skyrise Residential Tower

Post by fedssocr1 »

I have seen lots of units in these condo buildings listed on Agoda, booking.com, etc. So I can see investors buying them to rent them out. Unless those units are still owned by the developer and they're trying to make some money while they sit unsold. But there's such a glut of available units I wonder how good an investment it would really be.
fedssocr1

Re: Pattaya New Skyrise Residential Tower

Post by fedssocr1 »

just came across this article about Chinese investments in Thai real estate
https://asia.nikkei.com/Business/Busine ... up-at-home
fountainhall

Re: Pattaya New Skyrise Residential Tower

Post by fountainhall »

Interesting comment in that article -
"Thailand is a good place [for travelers], so I should be able to rent out my condo easily," said the investor
Wonder what happens when most discover that's easier said than done! Mind you, I won't be surprised if there are real estate companies now up and running in China specifically to rent out Thai flats owned by other Chinese.
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