7 replies to this topic

[Sydney08]

I have retired and am looking forward to coming to live in Thailand. I have spent some time over the past 7 seven years in all the places expats go: Bangkok, Phuket, Pattaya and Chiang Mai and have pretty much decided to settle down in Pattaya because I like the beach and Bangkok condo prices seem beyond my reach.

My question: Does it make any sense to also look for a small studio condo in Bangkok, which I could probably afford, for visiting on the weekends ? I guess what I am asking is whether expats living in Pattaya find themselves visiting the big city in Bangkok frequently enough so having that a small studio condo there makes sense.

[Gaybutton]

My question: Does it make any sense to also look for a small studio condo in Bangkok, which I could probably afford, for visiting on the weekends ?

In my opinion, that would depend on how often you'll be going and how long you'll stay in Bangkok each time you go. But since you are talking only about going on weekends, it doesn't make much sense to me. You would have to furnish it and you would also be stuck with cleaning it unless you wish to trust a maid service to enter when you're not there. For far less money, you can stay in excellent hotels.

Remember that being retired and living in Thailand permanently is a far cry from being here on a holiday. You are very likely going to find that your lifestyle will not only be different from that of a holiday maker, but also different from what you are anticipating. Also, if you buy a condo before you really know how you intend to live, and then if it turns out that you really don't want to go to Bangkok all that often, you would be stuck with a white elephant. Buying a condo is easy. Selling one is a different story and much more difficult.

I don't think it matters how often other expats go back and forth to Bangkok. You have no way of knowing whether what others do is going to apply to yourself.

Since you say a condo in Bangkok is affordable for you, my suggestion is this: Why not retire first, give yourself several months, and see how often you actually do go to Bangkok and how long you usually stay there? Then you will know whether it is really a practical idea for you.

[Hedda]

I think GB is correct that you should live here awhile before deciding if you want to have a second place for weekends.

In that connection, however, I am not so sure I agree with you that Pattaya prices are more within your reach. The differential bettween the two cities has been noticeably shrinking in the past few years and some of the new luxury stuff in Pattaya can be much more expensive than older but still classy condo buildings in Bangkok.

If you haven't done a comparison of the used "upscale" condo market prices in Bangkok recently, compared to the new luxury stuff in Pattaya, you might be pleasantly surprised to compare numbers. Many of the older condos (5 -10 yrs) in BKK were built when construction was much cheaper and, with the flood of new condos on the market, you can find bargains in Bangkok, with luck and work, which compete with Pattaya's soaring real estate prices.

If you're buying furnished, which so many condo sales of old units are, I think you will also find that apartment furnishings in BKK tend to be far more upscale than Pattaya. There was a time when you never worried about renovations and furnishings here because you could re-furnish for relatively little. Those days are fast disappearing. Finding a classy place with a quality interior can save you a lot of money.

[luvthai]

Why don't you try renting in both place for a year and then decide which way you want to go? I rented a condo for a year and then a townhome for a year both in pattaya and then tried Bangkok for a year. I liked both of them but I think I would now rent in Bangkok and go to pattaya for weekends or longer stays.

[DOLLY]

I lived originally in Bangkok as an expat and moved to Pattaya when I found the air and noise pollution in my Bangkok neighborhood was too much to handle. I kept two places for about a year and then concluded that owning condos is both places didn't make financial sense because it was far cheaper to use hotels on my infrequent visits to Bangkok. I have to confess however that it's not the same feeling staying in a hotel room as your own place.

[LarryCA]

According to the August edition of "Property Report", which is a real estate magazine, Bangkok's condo market is expected to slow in coming months with too many units looking for too few buyers. The magazine says that foreigners are looking to buy in resort beach places like Phuket, Koh Samui, Pattaya and Hua Hin and that's where the action is expected.

If they are right, the bargains are in Bangkok now.

[Danny]

If they are right, the bargains are in Bangkok now.

There have been several articles in the Nation in recent weeks by real estate developers acknowledging that Bangkok condo prices are expected to start falling soon, especially in the "luxury price" brackets. They say that there is a real glut developing in all the new units still in the pipeline and older units will have to start dropping their prices if they want to sell.

Just take a look at some of the real estate ads for Bangkok condos on the internet and you will see that it's not unusual to see many existing frist-class units in nice high rise buildings selling at less than 70,000/sqm, which is little over half of some new construction prices.

[Garcia]

Just take a look at some of the real estate ads for Bangkok condos on the internet and you will see that it's not unusual to see many existing frist-class units in nice high rise buildings selling at less than 70,000/sqm, which is little over half of some new construction prices.

In my experience shopping for a condo in Bangkok, prices are about the softest I have seen in the past 3 years. If you avoid the brand new stuff that's being priced at 100,000+, which includes Pattaya these days, you can find 4 star condo properties in Bangkok now for between 55-70,000 per sq meter, depending on location, especially including proximity to mass transit.