25 replies to this topic

[mardhi]

What a lot of people do not understand or appreciate is that land prices are still (relatively) cheap in Pattaya. If I am not mistaken the Montien Hotel was up for sale at something like US$ 25,000,000 - it sits bang in the centre of Pattaya Beach and is on probably 5 acres of land with back & front positions onto Beach Road and Second Road.

To a developer that land is real real cheap for such a location and they are not building anymore of it (beachfront land).

Thai developers are starting to see that Pattaya will only increase in size and they want to get in there. Its like the 7-11 syndrome of when one opens, another half dozen open straight away but they (the land developers) are playing a long game. If one outlet goes bust, then another one will open. They don't care so long as some guy thinks it can do well. The developer owning land is laughing, its the operators who struggle to make any money.

[thailover57]

On Buakaow just before Soi 15, they are building new condos (4 separate buildings). Looks like 4 floors per unit at 5.5 million baht. Having watched the construction, I'd pass. The first building was just about done and now they're knocking out side walls for what will probably be balconies. (I imagine that's a customization required by a customer. Can't see the owner spending the money without a request.) Each building has at least 4 units. That's some serious money.