The Edge

[likeaking]

Is construction continuing during the lockdown?

[striderman]

3 minutes ago, likeaking said:

Is construction continuing during the lockdown?

yep. cranes moving every day

[usexpat46]

8 hours ago, wadman said:

Starts at 3.99 million baht, which means 4 million. That's for the cheapest unit. Which would be what? A cramped studio with the worst view and location? 

Starting price is usually the smallest unit on the lowest floor.

[striderman]

21st april

 

 

 

[Fired Up Paul]

If there was ever a time that the great over supply of Condos was apparent, it is now.

As ever, in these times, the success of a project will often depend on how many existing contracts are settled and how many fall over.

I wouldn't bet on the developers not having to take a major haircut on anything not already sold out. 

[Harry Brown]

28 minutes ago, 1500B said:

If there was ever a time that the great over supply of Condos was apparent, it is now.

As ever, in these times, the success of a project will often depend on how many existing contracts are settled and how many fall over.

I wouldn't bet on the developers not having to take a major haircut on anything not already sold out. 

 

Is that being reflected in prices?

[Fired Up Paul]

25 minutes ago, Harry Brown said:

Is that being reflected in prices?

We'll see.

I read a news item yesterday where one BKK developer had cut prices on some units by up to 50%.

Edge is not complete yet so settlements haven't occurred or fallen over.

On the Gold Coast in Australia during 2008-10, developers took different approaches, many of which would have been dictated to them by their Bankers.

For example, some pre-fitout, adjusted the luxury fitout to an economy fitout. Some went into receivership and the receivers offered deep discounts.

I'm sure Thailand is different but the Economics are the same. The market was already delivering losses on projects completed 5 years ago because of over supply issues.

If people don't complete on their contracts, hard decisions will need to be taken. 

I remember using the river boats in BKK in the early 2000's and was shocked to see so many incomplete and abandoned high rises as a consequence of the 1997 Asian meltdown.

It is a good sign that building continues at Edge but who knows what the final pricing outcome will be?

[wadman]

The Edge is built very close to the road, and there are lots of beer bars nearby. You gotta be nuts (or very noise tolerant) to buy a unit there. 

[Fired Up Paul]

3 minutes ago, wadman said:

The Edge is built very close to the road, and there are lots of beer bars nearby. You gotta be nuts (or very noise tolerant) to buy a unit there. 

Most of the condos will face the Hilton, LK Metro or Walking St, but yeah, noise will be a factor with the doors open/on the balcony. Much less so, with the doors shut.

[Geordie59]

Just another example a a massive building with no extra infrastructure to support it. Will they ever learn....

 

[talung66]

On 15/04/2020 at 21:09, wadman said:

Starts at 3.99 million baht, which means 4 million. That's for the cheapest unit. Which would be what? A cramped studio with the worst view and location? 

just looking at hipflat 26sqm is the smallest and asking price is more the  3.99 asking price for those trying to sell contracts .(no chance)

FYi is you havent read the  info thread https://www.bangkokpost.com/business/1870984/colliers-warns-on-pattaya-oversupply

+ Anyhow all foreign quota have been sold nearly 2 years ago

Insert from thai visa june 12 /2018

Chinese buy new.

[Fired Up Paul]

2 hours ago, talung66 said:

+ Anyhow all foreign quota have been sold nearly 2 years ago

How many of those sold have settled?

[talung66]

1 minute ago, 1500B said:

How many of those sold have settled?

That i dont know considering the time frame of near 2  years now a high percentage of the total would have been put down buy now for the edge.

Maybe someone can add what is down payment percentage and payment schedules is. I am  sure is not final payment on completion as i remember reading of discount given in grand avenue for earlier payments and some paid in full  as they could see it finaly moving along afert bieng dormant for a long while.

its settle  or walk  https://www.bangkokpost.com/business/1870984/colliers-warns-on-pattaya-oversupply

[bonlondon]

Over last week at end of work day on second road I have walked past the large truck loaded up with at least 30 workers crammed in the back of the truck.

Kind of reflects what happened in Singapore with the jump in CV.

Pattaya has a remarkably low # of CV cases, and the testing being done at the hotel down second road is incredible (200 tests a day for 6 days and only 1 positive)

On another note, there are condos with large windows right above the Soi Diana beer bars (if it was Mardi Gras you could throw beads down to Cherry bar)

I wonder if those beer bars will be shut down?

if not, how could anyone buy those units?

 

 

[wadman]

42 minutes ago, bonlondon said:

On another note, there are condos with large windows right above the Soi Diana beer bars (if it was Mardi Gras you could throw beads down to Cherry bar)

I wonder if those beer bars will be shut down?

if not, how could anyone buy those units?

My thoughts exactly.  Maybe deaf people can pick up units on a good deal on that side, after the original owners sell.  

[talung66]

3 hours ago, wadman said:

My thoughts exactly.  Maybe deaf people can pick up units on a good deal on that side, after the original owners sell.  

Not many will live in them. 

The chinese just buy as they cant take their money with them when they die so it a inheritance and will also earn income like the base is  via airbnb  ect to other chinese.( B4 covid 19 reflection) 

Same here in australia we have many unoccupied properties.

[striderman]

i call that a draw right now............

that "tiny" beige building bottom right is the lk residence in soi diana. 

the thin building middle far distance is "Posh" condo on north pattaya rd

[blueye44]

4 hours ago, striderman said:

i call that a draw right now............

that "tiny" beige building bottom right is the lk residence in soi diana. 

the thin building middle far distance is "Posh" condo on north pattaya rd

 

[blueye44]

Thx Striderman, i have some investment in the Base, but wont sadly open the door yet ,, 

 for awhile cheers, thx for the pics

[striderman]

On 21/04/2020 at 16:58, wadman said:

The Edge is built very close to the road, and there are lots of beer bars nearby. You gotta be nuts (or very noise tolerant) to buy a unit there. 

i meant to do this check earlier but i forgot till today

photo taken from by Ferdinand bar (next to cherry bar) in the soi diana bar complex (around 16 bars ish).................

 

i would guess around 45 ft maybe 50 ft. so pretty close for all units on the south facing side which is approx 300.

 

[Pinoydave]

HOT PARTY POOL
The Sky Lounge is the perfect place to relax and enjoy the beautiful view on the 30th floor. With infinity edge pool design, there is nothing to stop you from facing the view.........

 

should be plenty of skydiving from their !!!!

[striderman]

i think this is the final height. now higher than both towers of the base which now has compromised views from the front condo units.

 

i think it's done as far as floors are concerned cos the pump tower to raise Liquid concrete and pipe the stuff into position  has vanished. it was between the 2 tower cranes. seen below ................

[Fired Up Paul]

1 minute ago, striderman said:

i think this is the final height. now higher than both towers of the base which now has compromised views from the front condo units.

That is pretty amazing speed.

I was in a beach facing unit on the 22nd floor in early March and from memory, the Base was 10-15 floors away from destroying my view at the time.

[striderman]

the sneaky cheaty builders are playing games with me. today i noticed the concrete pumper had been concealed not removed. i still think it's around the final height

i used to think the LK Residence (renaissance before) the beige building was big when i first stayed there soft opening around 2007/8

there is another white floor marker above the one you can see that reads 29. the rear of the tower is higher maybe 2 floors and i still think that's around the final height

the pumper was hiding !

 

[vivid2]

the sneaky cheaty builders are playing games with me. today i noticed the concrete pumper had been concealed not removed. i still think it's around the final height.

There is another white floor marker above the one you can see that reads 29. the rear of the tower is higher maybe 2 floors and i still think that's around the final height.

You're right. The builder's website says that the building will have 31 floors.

And I just HATE when they hide the concrete pumper from you. [emoji23]


https://www.sansiri.com/cnt/news/pattaya-plenty-of-investment-opportunities-200/