Hot Resale At The Golden Tulip - Foreign Quota

[wido]

8 hours ago, Henrik Bejstrup Nielsen said:

No, by Grand Avenue in september 2017.

 

Strange. I ask for the price in Thai quote a few months before and they answers it was the same price. But they had also resell at cheaper price as you mention here. 

[Henrik Bejstrup Nielsen]

20 hours ago, wido said:

Strange. I ask for the price in Thai quote a few months before and they answers it was the same price. But they had also resell at cheaper price as you mention here. 

I dont understand why people want to sell below 49.000 bath/sqm. I am sure they will be able to get a higher price than that.

[paulyd2k]

because when people have had their money tied up for 4/5 years and still not near finished they will be glad to get rid of it , same as me,55555, and it`s not what I bought into,  I thought it was going to be a prestigious development,  high end hotel at front and now it`s just a run of the mill build,  but just my opinion ,

[wido]

On 14/10/2018 at 16:55, paulyd2k said:

because when people have had their money tied up for 4/5 years and still not near finished they will be glad to get rid of it , same as me,55555, and it`s not what I bought into,  I thought it was going to be a prestigious development,  high end hotel at front and now it`s just a run of the mill build,  but just my opinion ,

Do you sell your condo or not? And what is your asking price SQM?

[gimmesum]

I am baffled why so many people will buy a condo that only exists in the mind's eye.  There are loads of empty built units in Pattaya yet people allow questionable developers nad realtors to take advantage of them.  Would you pay a gal in advance for services not rendered?  Then why in the hell would someone pay millions for units unbuilt? 

[KittenKong]

On 14/10/2018 at 16:22, Henrik Bejstrup Nielsen said:

I dont understand why people want to sell below 49.000 bath/sqm. I am sure they will be able to get a higher price than that.

Would you pay more than that for it? I wouldn't. In fact I wouldn't pay that much.

[The Danimal]

21 minutes ago, gimmesum said:

I am baffled why so many people will buy a condo that only exists in the mind's eye.  There are loads of empty built units in Pattaya yet people allow questionable developers nad realtors to take advantage of them.  Would you pay a gal in advance for services not rendered?  Then why in the hell would someone pay millions for units unbuilt? 

it looks pretty close to completion...it was 50k/SM....top 5 units in the entire complex and great location

 

have you ever kissed a bar girl?...BB any girl?....different risks for different risk appetites

[KittenKong]

21 minutes ago, gimmesum said:

I am baffled why so many people will buy a condo that only exists in the mind's eye.  There are loads of empty built units in Pattaya yet people allow questionable developers nad realtors to take advantage of them.  Would you pay a gal in advance for services not rendered?  Then why in the hell would someone pay millions for units unbuilt? 

People are easily influenced by fancy showrooms, glassy brochures, and above all by mythical discounts offered on a totally unrealistic list price. So they go for it. If you have an item worth 2MB and you list it at 4MB and announce a fantastic discount of 1MB, you may well get takers, and you only need one buyer. Some people are very stupid.

I know a chap who bought several units for rental purposes in a Jomtien development at the launch party. He was straight off the banana boat: recently retired from the UK and on his first trip here. I told him not to. Six years on the building is still not finished and he does not own the units. I dread to think how much money he has paid over. I doubt that he will ever see the units or his money back.

[The Danimal]

9 minutes ago, KittenKong said:

People are easily influenced by fancy showrooms, glassy brochures, and above all by mythical discounts offered on a totally unrealistic list price. So they go for it. If you have an item worth 2MB and you list it at 4MB and announce a fantastic discount of 1MB, you may well get takers, and you only need one buyer. Some people are very stupid.

I know a chap who bought several units for rental purposes in a Jomtien development at the launch party. He was straight off the banana boat: recently retired from the UK and on his first trip here. I told him not to. Six years on the building is still not finished and he does not own the units. I dread to think how much money he has paid over. I doubt that he will ever see the units or his money back.

I understand...just like a sale at any establishment...mark up 100%...then do 50% off.

 

I'm just saying for about 100K USD to have a 2 bed 2 bath top floor corner unit in the area I prefer to be in 2 blocks from the beach ...I'll take that risk when its 90% complete already...I didn't buy in 2014

[Scuba+]

it looks pretty close to completion...

Centara has been close to completion for years

[brutox]

3 hours ago, The Danimal said:

... it looks pretty close to completion ...

 

2 hours ago, Scuba+ said:

Centara has been close to completion for years

 

 

Ahhhhh, hah-hah-hah! .. Scuba+, now that just cracked me up!

The inability for Thais to meet a simple deadline should be no surprise to anyone who has been here for more than a few weeks.

That they are incapable of meeting any deadline takes a bit more time on the ground.

This behavior is only a reflection of a deeply-rooted cultural value, so critical to understanding not just what a Thai is likely to do .. but .. why.

It is not that Thais are incapable of meeting a deadline, they are .. it is more that a deadline hasn't the same value to Thais as to westerners .. it is less important to them .. waaaay less important.

When I arrived here and invested our fund into the 1997 Asian Currency Crisis morass, I was surprised to observe that local Thais (highly foreign educated, knowledgeable financial professionals) gave limited consideration to the time value of money.

They still relied heavily upon simple payback periods and annual yields .. they understood IRR denominated returns, which accounts for the time value of money, but gave IRR's little weight in property investment decisions.

Until I finally learned why, this drove me absolutely nuts.

After living and working up-close to them for a few years, I started understanding the whys of their thought processes, not merely the whats.

I learned that the Thais' most fundamental view of time is quite different than ours, and understanding that made all the difference in the world to me.

We westerners view time as linear .. with a demarked beginning and end .. we create deadlines that must be met, or the 'opportunity' (however that is defined) passes and cannot be easily reclaimed.

Thais view time as circular .. this is important .. think .. reincarnation .. no demarked beginning and end .. if the 'opportunity' does not happen now, it will come around again .. if not in this lifetime, maybe in the next .. deadlines for Thais are not similarly valued as we value them.

This is one of those foundational cultural values, largely imperceivable to most farang observers (even to farang living up-close to them), that drives so many Thai behaviors.

Understanding this and other Thai cultural values has made all the difference in my life here.

For a farang, buying into conventional Thai developer practices is understandably way more frustrating than most expect.

Ummm .. so .. I don't mean to be insensitive, but .. mai pen rai .. 'if not in this lifetime, maybe in the next'. 

Edited October 16, 2018 by brutox

[Mr Wombat]

25 minutes ago, brutox said:

 

 

When I arrived here and invested our fund into the 1997 Asian Currency Crisis morass, I was surprised to observe that local Thais (highly foreign educated, knowledgeable financial professionals) gave limited consideration to the time value of money.

They still relied heavily upon simple payback periods and annual yields .. they understood IRR denominated returns, which accounts for the time value of money, but gave IRR's little weight in property investment decisions.

 

The thai guys building terminal 21 in pattaya mustn't have got the time value of money memo. They have absolutely powered along building that.

I thought the project in this thread was foreign owned?

[Harry Brown]

34 minutes ago, brutox said:

 

 

Thais view time as circular .. this is important .. think .. reincarnation .. no demarked beginning and end .. if the 'opportunity' does not happen now, it will come around again .. if not in this lifetime, maybe in the next .. deadlines for Thais are not similarly valued as we value them.

This is one of those foundational cultural values, largely imperceivable to most farang observers (even to farang living up-close to them), that drives so many Thai behaviors.

Understanding this and other Thai cultural values has made all the difference in my life here.

For a farang, buying into conventional Thai developer practices is understandably way more frustrating than most expect.

Ummm .. so .. I don't mean to be insensitive, but .. mai pen rai .. 'if not in this lifetime, maybe in the next'. 

 

Damn!!!  So you mean to tell me I could die and be reincarnated ......... say as a pet dog;  before all this is finished ?   So, so,  I could end up sleeping outside on the doormat rather than the main bedroom with ensuite and gold plated finishings overlooking the endless pool that then has an ocean vista?

[Scuba+]

The thai guys building terminal 21 in pattaya mustn't have got the time value of money memo. They have absolutely powered along building that.
I thought the project in this thread was foreign owned?

They seem to be a lot better with hotels and perhaps shopping malls too

[brutox]

10 minutes ago, Mr Wombat said:

The thai guys building terminal 21 in pattaya mustn't have got the time value of money memo. They have absolutely powered along building that.

I thought the project in this thread was foreign owned?

Hey, Mr Wombat.

On Terminal 21 Pattaya, yes, I hear as much .. there are exceptions to the rule, all of which are likely publicly-listed.

Do not confuse the local Pattaya developers with publicly-listed Thai developers .. not same-same .. definately .. the former haven't even the creditworthiness to qualify for financiing .. the latter have much improved practices since they were all driven into insolvency during the 1997 Thai Currency Crisis.

Terminal 21 is developed by Land & House, a publicly-listed Thai developer founded by khun Anant, a very smart and impressive Thai developer who successfully led his company through the 1997 Thai Currency Crisis .. he quickly adopted many western standards to recapitalize and reorganize his insolvent company, to survive the crisis, and flourish afterward to become one of the most profitable property companies on the SET .. one of his developers worked from me .. he was trained-up well by khun Anant, with many western standards.

For the first Terminal 21 he developed (in Bangkok), he appointed a well-known Canadian market analyst to drive the programming (defining what they should develop based on proper market research and modern analysis), which was the first I heard of in Thailand .. maybe the only one, still .. he also appointed an international western architect with extensive retail experience to design it .. I suspect his field execution performs to a higher standard .. their contractor, Syntech, is also publicly-listed and a very capable builder.

You are of course correct about 'The Golden Tulip' being a farang-developed project .. two of them as a matter of fact .. the original developer who augered-in, and the successor (I believe) .. do not be comforted by any farang in the property sector here ('ahhh, my good friend .. you can trust me, really') .. many, perhaps even most, check their ethics at the airport and use the many failings of the Thai legal and financing systems to their advantage .. unscrupulous property developers here are not identified by their nationalities .. and they know exactly what they are doing.

Publicly-listed Thai developers are the highest standard of performance in the industry, and their track records these days are quite reliable .. but, these local guys? .. well, as a sage philosopher once said, they are 'like a box of chocolates .. you never know what you are gonna' get' .. (apologies to Forrest Gump).

 

[brutox]

1 hour ago, Harry Brown said:

 

Damn!!!  So you mean to tell me I could die and be reincarnated ......... say as a pet dog;  before all this is finished ?   So, so,  I could end up sleeping outside on the doormat rather than the main bedroom with ensuite and gold plated finishings overlooking the Endless pool that then has an ocean vista?

Harry Brown, that is not .. what I said .. and to be perfectly honest, your karmic balance ain't looking so good.

Other people living bad lives might be reincarnated as a dog, sleeping outside on the doormat and licking their own balls for entertainment.

But, you ..  well, I've read your postings for quite some time now .. and you ..  you! .. are probably looking at reincarnating at the insect level, sleeping fitfully under a pile of warm, wet dog dung in the backyard garden, praying that you are not devoured by another TF member who behaved in life just a weeeee bit less badly than you!

The karmic score keeper is watching you, Harry Brown .. always!

 

Edited October 16, 2018 by brutox

[Scuba+]

Harry Brown, that is not .. what I said .. and to be perfectly honest, your karmic balance ain't looking so good.
Other people living bad lives might be reincarnated as a dog, sleeping outside on the doormat and licking their own balls for entertainment.
But, you ..  well, I've read your postings for quite some time now .. and you ..  you! .. are probably looking at reincarnating at the insect level, sleeping fitfully under a pile of warm, wet dog dung in the backyard garden, praying that you are not devoured by another TF member who behaved in life just a weeeee bit less badly than you!
The karmic score keeper is watching you, Harry Brown .. always!
 

Funny. Your posts are like a work of art [emoji16]

[Harry Brown]

1 minute ago, Scuba+ said:

Funny. Your posts are like a work of art

I have huge fan base, you can't always please every one

 

At least I know whose side people are on. 555555

[paulyd2k]

@danimal,   90% complete,  ummmm I don't think so, I wouldn't say 50% at present

[paulyd2k]

ok maybe a tad more , but a long way to go yet, they may get a handful in early next year but , I think that's just to please a few, still be a bombsite for a year + yet I think, and even when your in it`s still going to be without a lot of the amenities, ,,, as they say you cant polish a turd,5555

[likeaking]

5 hours ago, paulyd2k said:

as they say you cant polish a turd,5555

You never heard of Turdle Wax?

[wido]

More than 50%, I guess 80%

 

[paulyd2k]

yes but that's just one section of one building ,look at the project as a whole,  80% your dreaming,  I know your a fanboy I have followed this thread for a long time.

[paulyd2k]

if you notice one section of video where it looks across to other building ,that is just a shell, miles off finishing, ,  obviously this video is from grand avenue they want you to think it`s nearly finished, if you notice to a lot of this video is on loop,  I know they are trying to get building A finished but what about the people in other buildings,  I think some of you believe all what they tell you, but this is Thailand and a lot of us know how things work here, treat us like mushrooms ,kept in the dark and fed on bullshit,55555, we will see in a year when this post is still ongoing, lol

[wido]

8 hours ago, paulyd2k said:

if you notice one section of video where it looks across to other building ,that is just a shell, miles off finishing, ,  obviously this video is from grand avenue they want you to think it`s nearly finished, if you notice to a lot of this video is on loop,  I know they are trying to get building A finished but what about the people in other buildings,  I think some of you believe all what they tell you, but this is Thailand and a lot of us know how things work here, treat us like mushrooms ,kept in the dark and fed on bullshit,55555, we will see in a year when this post is still ongoing, lol

I go 6 months a year to Pattaya and visit the construction site every day. That video is from the A building floor 8 nearly 90 % finished. I bought in the C building, 80% finished.

Edited October 18, 2018 by wido