November 2015 – Project update

With the start of the high season upon us many developers are ramping up their efforts with the aim of finishing in time to let the owners take possession and to collect that all important final payment

Not sure all current projects nearing completion will be able to finish on time but here are a few projects which we caught on camera recently. Centric Sea down in central Pattaya on 2nd road has owners moving in shortly.


Further into the centre Centara Avenue is also almost ready with the large Golden Tulip project opposite well into construction stage too.

Around the corner towering above LK Metro and 2nd road Sansiri’s The Base has most of the exterior complete and are starting the fit out stage. In Pratamnak One Tower is reaching full height with great views across to Koh Larn.


In Jomtien they have demolished their original showroom at the Grand Caribbean so they can start on the landscaping. This huge project is still at construction stage but interior work is in progress.

Also in Jomtien another large resort, Seven Seas now has some character with Domes and windows appearing and they are expecting to see owners arrive in Q1.

The Dusit Group have been busy with their Dusit Grand Park and Dusit Condo View both ahead of Schedule. With the AD Condo beside 2nd road Jomtien is starting to resemble a mini high-rise city on its own.


With hopefully some good weather ahead, expect to see most of these projects start to gain their identities and we will soon be able to see for ourselves their brochure become alive!

November 2015 – Pattaya & Bangkok Savvy Property Consultants…

A group of investors from Bangkok with full of investment experience in pattaya have recently set up their new property consultancy and management office right in the heart of Pattaya.

Zet Estate is a property consultant and management. They’re trained and approved by The National Association of Realtors (NAR) which guarantees that we are working in a professional manner with high experience.

Jeep has been working as a professional realtor for the Bangkok agency and Developer for several years. and also invest in pattaya and Bangkok property. Jirayu invested in pattaya properties more than a value of 60 million baht in past 2 years.

Chatchawan also an investor,blogger of Properth website that contain a full of knowledge in real estate and investment. He said that we are an investor with experience of investment in Pattaya, we can evaluate price trend, worthiness , Return on investment that can guarantee you will get a highly potential property from us.

All three saw the potential here in Pattaya, so they have moved to the city and set up shop close to the Big C Extra in 333/11 Moo 9 in NongPrue.

Ham said, “We realize that the customer’s needs are top priority. If you want to buy, sell, rent or invest in a property. We offer a professional consulting service which specializes in Pattaya and Bangkok property.

Moreover they have “Zet Care One Stop Service” for set all your property needs such as maid service , Interior Design and home loan consulting. And they come up with 4B of Zet Estate. 4“B”

1.TheBest Quality
2. The Best Price
3. The Best Service and
4. The Best Choice

In past 2 year.Zet Estate has been invest more than 500 Million Baht in many developments and condos.In these and other condos they also handle the management for over 100 units. They are now promoting projects in Pattaya, Jomtien and Siracha.

‘Pattaya City is the good place for investment and a perfect place for second home. The property in Pattaya has a higher rent of more than 8% – 10% compared with Bangkok real estate which only offers between 3-5% returns.

Also many Bangkok buyers are looking for a second home by the sea too,’ said Jeep. She mentioned that there is in some areas of the capital an oversupply of units with THB200k per square metre compared with beachfront units in Pattaya going for THB100k per square metre.

Some of their customers are even buying 2-3 units, keeping one as a holiday home while renting out the other units to tourists or expats. Jeep was also very positive saying,’ Although the developers have been having to deal with the Russian investors, many Bangkok investors realise that there are great opportunities to buy now at a good price with good profits here in the future. The Chinese are also going to be a big factor as well.’

‘As an example in a prime location a small studio in Bangkok can cost approximately THB7 Million whereas the same studio in Pattaya’s beachfront can be bought for less than THB2Million.’


They are now working with several Pattaya and Bangkok based developers such as Blue Sky Group, Global Top Group, APUS development group,The Urban property,One Group Development ,Origin Property and Serene Property & Development ,once they we find a suitable unit, they then provide the client with a detailed report covering a survey, all the information and they also calculate the rental returns and the eventual profits on that unit.

Zet Estate literally are a one stop shop as apart from sourcing good investments, they can also arrange bang loans and manage the property down to finding a suitable tenant.

We will offer you the best deals with the best location to maximize your pleasant because when you come us,you are a part of our family. Like our slogan “All your property needs we can set”

November 2015 – Pattaya based developer expands

Dusit Groups is one of the few developers who were founded back in 2005 by Pattaya born owners Borwon Wongkasan and Jarin Changlek

Many of you will be now be aware of their latest project The Dusit Grand Condo, as the first five floors of this Condominium are now clearly visible behind the Group’s HQ located on Jomtien’s 2nd Road.

Back in 2005 they were keen to create homes and neighborhood communities in the Jomtien – Pattaya area of Chonburi province.

So far the group have completed several large communities and are well known for their careful and considered attention paid to every detail.

This starts with the selection of development plot, the home design, and even hands on construction supervision with Mr. Wongkasan himself overseeing his foremen.

‘We are concept was simple as we were wanted to build a home that we ourselves would want to live in, ‘explained Wongkasan. He added, ‘Our homes are not merely products for sale, as when they have been completed we continue to manage our communities with our personal touch.’

This passion for detail has led them to grow to become one of Pattaya’s most respected and accomplished developers, with five unique neighborhoods already built including Baan Dusit Pattaya, Baan Dusit Pattaya Lake, Baan Dusit Pattaya Park, Baan Dusit Pattaya View, and their newest community called Baan Dusit Pattaya Hill.


After encouragement from their existing customer base and demand from the local market as a whole, they have embarked on a new phase in the company’s expansion by developing two condominium projects, including the 36 story Dusit Grand Condo view luxury, and the Dusit Grand Park The Dusit Grand Park has been granted EIA approval and construction is already in progress.

This resort condominium project integrates a 6,400 square meter lagoon swimming pool on a 20,800 square meter area with full amenities.

These include a club house, Jacuzzis, water slides, underground parking, steam and sauna, coffee shops and restaurants.

All units are fully furnished and residents will enjoy life in a central location with nearby road access to the ocean and downtown Pattaya.

Designed as a vacation style resort, Dusit Grand Park is a new residential complex near Jomtien Beach with eight-six story buildings surrounding a huge multi-level lagoon pool with water attractions, sundecks, relaxation areas.

November 2015 – Times are changing in Pattaya

Goodbye foreigners hello local Thai’s

When I first came to Pattaya in 1990 there were no estate agents or brokers as we now them now, there wasn’t a local newspaper, magazine or website. The market was run by Thai’s and most properties were advertised in ‘lawyers office windows’. The first ‘foreign’ estate agent was NT Realty who opened an office on 2nd road near Royal Garden in the early 1990’s.

It was a great location for passing tourists (foot fall), they launched their website in 1998. Many of the successful foreigners who set up the agencies that followed, started their Pattaya real estate careers working for NT. Over the years we saw a huge boom in Real Estate Agents, at one point about 4 years ago there were over 700 businesses selling property one way or another.

So its a great shame to see NT realty have finally closed the doors on the office in Pattaya.

In the last year we have seen several of the biggest foreign agencies leave the market, and many of the small agents have gone too, as the foreign property market has shrunk enormously, now only a few good foreign agents remain with main street offices.

Its no coincidence that these survivors mostly have strong ‘online’ presence and the low over heads that go along with virtual businesses is a factor, as busy foot fall locations are now so expensive.

In the place of the disappearing ‘foreign agents’, we are now seeing the resurgence of ‘Thai’ agents and brokers. In this issue we welcome ZET Estate, to Pattaya, a group of smart young Thai entrepreneurs from Bangkok, that recognize the fact the Pattaya market has shifted back to the Thai local buyers and Indian, Chinese foreign investors.

This is a new era, if you’re a developer adapt, if you’re and agent, adapt, if you’re a seller, find an agent that understands the new market, if you’re a buyer you have a huge choice and should find a bargain.

By Charlie Warner

October 2015 – It’s a Renters Market Out There…

In the past when you went into an estate agent’s office and said you were interested in renting, they would hand you a list of properties while they talked to Russian buyers. The renter was very much the poor relation.


Well not any more as with less buyers around many agents are now relying on the rental market to make ends meet. Therefore this month I went out around town to see what was available.

OK let’s not dwell on the fact that the Russians have almost left the city, as that is all too clear to see. However there are renters around who are keen to sign long-term contracts, and the agents I talked to actually said business was quite brisk.
Firstly and perhaps the biggest sector looking are the large number of resident expats.

Here according to Carol Chang from Coastal Real Estate Pattaya, they have had several enquiries from residents researching the rental market to find out what they can now get. Some are looking at downsizing but the majority are still able to maintain the same size property but at a lower rate.

Over at Alan Bolton Property Consultants their rental manager Patrick On-lam told me that he had had several enquiries from teachers needing to find rental property before the new academic year starts.

Another client was the giant Kawasaki motor company who had recently opened a large operation in Rayong, however many of their executives preferred living in and around Pattaya.

I have for the past 18 months rented a large 2 bed condo in NaJomtien beside the sea.

It’s a great place to live but with daytime meetings and social events in the evening to attend, I can clock up a large number of kilometers every month.
I therefore decided to see how hard it was to check out a few options.

Go Online And Google Pattaya Rentals
First and easily you best port of call is to go on line and Google Pattaya Rentals. Apart from checking out our own magazine’s popular website or where you will find a large number of properties for rent, it is also worth going to a few of the local agents sites.

Here you can choose the area, size and of course price range. If you limit is say THB30,000 a month I would recommend selecting up to say THB35,000 as most owners are will to offer a discount especially if you can sign a year’s contract.

I found when actually arranging a viewing with the agents that you could normally find out how long the condo had been on the market. If it had been empty over say three months then that means they have lost revenue so may prefer to take a lower offer but with the view of having a reliable long-term tenant.

I found that there was a huge difference between rather older condos furnished with the bare minimum against some of the newer units with modern furnishing.

When I am looking for a place to rent, I prefer something bright as I tend to work from home. Also I will always check the mattress and the sofa, as badly made furniture can mean any savings you made in the rent will be spent at the Chiropractor.

It’s amazing how some properties are furnished as if the owner expects you to sit in an almost empty lounge with minimal furniture. Or you have the extreme where the colours are so bright it’s like living in a go go bar.

With Indian executives, teachers, corporate clients and expats, there is a healthy turnover of property, but I cannot see it changing over the next few months even though we are getting close to the high season or should it now be called mid season this year.

According to various reports Pattaya currently has a large number of new and secondhand condos to fill and with large projects like Centric Sea, Cetus, the Palm, Naturaza and Inxx all about to be completed, the stock will grow rapidly.
Yes the clever renter who does his homework will find some great places to live out there. Happy hunting.

October 2015 – Project update

It’s at this time of the year when developers tend to ramp up their construction schedules and move forward to complete their projects, as overseas vacationers are naturally keen to take over their units and enjoy so time in the sun during the high season.

cetus view 4

Cetus Ready For Owners On Jomtien Beach
Therefore we have looked around town to give our readers the latest on some of the larger condomiumim coming close to completion.

Several large projects are nearing completion including SC Assests Centric Sea on 2nd road in Pattaya plus Cetus a 48 story condo right on Jomtien Beach.

cetus pool

We were able to take the elevator to the 45 floor to give you an idea of the stunning views from their 1 and 2 bedroomed apartments. Cetus has several pools and a villa section and owners will start to move in next month.

The Posh

Pattaya Posh
Over in North Pattaya, close to the bus station and Makro is the 35-story the condominium simply called Pattaya Posh. It provides one of Pattaya’s most original 360 degree views, spanning as far as Wongamat Beach and across the city.

Adding to that is their unique three-section lobby where guest and residential spaces are cleverly separated with a 4.5 meter high. Built by the SIRISA Group who have more than 20 years of experience, their other projects including Censiri Home, Coco Park, The Palm and Le Beach Bang Saray. As you can see they are still working on the building.

Sea Max exterior

Sea Max
Over in Jomtien Sea Max seems to have come to a halt while according to the sales staff the project is being re financed, a term you are likely to hear more often in the coming months.

October 2015 – Winston Gale – RIVIERA GROUP

Charlie Warner met up with one of Pattaya’s biggest and busiest property developers and asked him to give us some insight into how the company was performing during the last year.

Tower A - The Riviera Construction

“Well, it’s been a quick 12 months” says Winston. “Having gained EIA planning permission for The Riviera Wongamat Beach in July 2014, the construction started about a year ago and progress today already sees it standing at over 10 floors high”.

He admitted that planned sales expectations would normally see the sales reaching 90% by now, but due to the tough market conditions, such as Russian buyers currency issues, combined with domestic difficulties that figure has dropped. However under these circumstances, the fact that we still see sales holding fast at a 80% plus is very satisfactory. So there is much to smile about at the Luxury showroom on Soi 16 Naklua where Winston and his senior team base themselves.

He added, “It was also a year ago that we had the 12 days ‘Soft-launch’ of The Riviera Jomtien condominium project at Central Shopping Centre Pattaya on the ground floor. It was an innovative marketing idea, that can only be described as an enormous exhibition-styled display featuring, an actual full sized, ‘Fully-furnished’, condominium unit, along side our teams luxuriously furniture hospitably and sales area”.

He continued, “Soon after in late January we had the official launch party at our grand 50M Baht showroom. An estimated1,300 people attended, which included many well known celebrities from Bangkok, local dignitary’s, high profile investors and business people. It was the social event of the year in Pattaya and still its not been eclipsed as ‘the party of the year’ even though were into September!”

Winston & Sukanya Gale - Owners of The Riviera Group

“Our Riviera Jomtien project is currently under EIA application process and we expect planning permission approvals by the end of year. Early sales were amazing we saw over 50% sold in literally a few weeks and didn’t take long to rise to 65%. Then the market cracks appeared. Cancellation of units has been the norm for every project in Pattaya and The Riviera Jomtien was no exception, sold units figure dropped, but still remains at a healthy 55%. Bearing in mind this is a huge 1,075 unit high-rise project; it’s a very satisfactory position.

“There’s no denying it’s a tough market, it’s both economy and politically challenging times we face at the moment.,” said Winston, “but we are selling a fair amount every month”.

He went on, “This was also the year of our high-profile ‘Movers and Shakers’ crown sponsorship for The Riviera Group. These events were done in both Bangkok at several 5 star hotels to fun locations back here in Pattaya such as ‘Fflick Beach Club’ back in July. With our last event being held for a second time at The Amari’s ‘Mantra’ restaurant at time of us going to print, the event (25th Sept) if anything to go by from the first event, will certainly go down as one of Movers and Shakers best networking evenings”

Winston decided to ask ‘Emmy’ their Model used in all of their Riviera Wongamat marketing materials over the last 2 years to employ her own model agency to perform a fashion show for the guest as a fun way of finishing off their sponsorship role. This promises to showcase over 15 top models from Bangkok performing in the center of the hugely loved Mantra restaurant to an anticipated ‘Large crowd’.

Then you really can’t forget where it all started for Winston and his right-hand, wife Sukanya. ‘The Palm, Wongamat Beach’. Although it’s branded as a ‘Nova Group’ project, Winston is the Founder and Co-Developer of this award-winning project. For Winston, as he describes it, this is “His-Baby”.

He said, “The Palm is the best location you could ask for in Pattaya in my opinion. When it’s finished, it will be admired and aspired as the address to own in Pattaya. I’m here working everyday, sometimes 7 days a week”. “Sukanya and I have been putting our heart and souls into this place since 2010”.

“I think we will do the Hollywood feet and hands imprint into some wet concrete near the lobby area towards the projects finish just to keep our memory here” Joked Winston with a big smile.

Tower B - The Riviera Construction

The Palm Wongamat Beach is expected to finish first quarter 2016.
The Riviera, Wongamat Beach is expected to finish 3rd quarter 2017.
The Riviera, Jomtien is expected to start construction first quarter 2016.

October 2015 – Off plan condominiums and how to play the game…

As alluded to in earlier articles, buying an off plan condominium forward contract, i.e. the right to purchase and take delivery of a completed unit later on but at an agreed price today, can be a good way to ‘get in early’ and lock into a square meter price that in theory at least will be lower than at the time of completion a few years hence.

By Jerry Dingley

Some developers or appointed agents will conduct an in house pre-launch event where only their existing private clients and /or ‘VIP’ contacts are invited to attend to select the best units before the projects remaining ones are made available to the mass market often at higher prices.

Many potential buyers however whilst they may like the idea of buying early pre-sale contracts would prefer to wait at least until the project has received its building permits and bank finance approval before parting with any money.

By the same token, they do not want to wait until final completion as by then the developer could have perhaps raised prices several times and the best units will be long gone.

Ergo, there also exists a ‘middle ground’ way of achieving the desired result, granted at a higher price than the early bird pre-launch ones, but still at a significant discount to the developers then current market price, and with less risk of non-completion.

Some estimates suggest that 30% of early buyers are in fact speculators looking to sell their contracts on to someone else prior to completion and thus to make a profit on the amount they have already paid in deposits and stage payments. Some will list through an agency, but nowadays many will list directly on their own on one of the popular local websites that have sprung up to cater specifically to this need.

An early stage buyer will often have secured the best unit floorplans and locations within the building, whereas the developer will in all likelihood now be selling the remaining units that are perhaps less desirable, and almost certainly at higher prices. Some of these speculators, are looking for quick exits at smaller profit margins as they understand that the longer they wait to sell, the greater the risk of not being able to sell, and thus they would then have to complete themselves or face forfeiting the total amount they have already paid, plus losing the right to buy the condominium.

A word of warning though if you do decide to follow this strategy of buying someone else’s ‘right to buy’ contract from a resale website listing is that you need to make absolutely sure that the person you are dealing with is the real ‘owner’ of the contract, and do not pay any advance payments to anyone.
The best way to do that is confirm with the developer directly, as they handled the original deal and will usually be happy to oversee and supervise the assignment transaction for both seller and buyer and in the presence of all parties on site at their offices.

You will be required to pay to the seller the amount that they have already paid to the developer (this can be easily verified by seeing the receipts) plus the agreed amount of profit, then you will also take on the contract obligation to pay the remaining stage payments and amount due on completion, plus building management fees, sinking fund, and any land office taxes, all of which are transparent and verifiable at outset. At this stage of course you will also be free to sell the ‘right to buy’ contract on again should the need and or opportunity arise to do so.



October 2015 – Rainy season, life in the tropics

September saw the monsoon rains arrive suddenly in Pattaya and as is often the case caught many people unprepared. The rain here comes in such large volumes and so fast, so take time to read these few simple tips:

Keep all windows closed, keep a battery operated torch and candles and a lighter handy as power cuts often follow flooding. Keeping a stock of food that requires no cooking or refrigeration can be useful.

Don’t venture out into flooded streets during the rain, flash floods can move very quickly and motorbikes can be washed away in an instant, cars too.

Conventional drainage and pipes struggle to cope with the surge of water. its wise during rainy season to make sure your condo balcony drains are clear and not blocked with leaves or other obstructions. Avoid using elevators if you can power cuts happen often for House owners, inspect your roof and make sure its ready for the rains, so as to avoid leaks inside your home that can weaken your walls and ceilings and lead to expensive problems.

Take a look at your gutters to make sure that they drain well and don’t cause water to back up. Prepare some sandbags incase you need to keep flood water at bay. Consider moving expensive furniture and belonging to a higher floor.

If theres a thunder storm, unplug expensive electronics including TV, home entertainment centers, and computers. Never touch wiring or corded phones during a thunderstorm, lightning traveling through telephone wires can kill.

The benefits of the rain however, are we need a lot rain for our reservoirs, gardens and farms, as the local population continues to grow and strain supply.
Enjoy the rain!

By Charlie Warner

September 2015 – To Buy or Rent? …

If you are going to be in a country for any length of time then the question will inevitably come up as to whether it is better to rent a property or to buy one, and whether to get a house or a condominium.

There are pros and cons to both of course and over the years we have seen more than a few couples, perhaps just retired or soon to be so, and who came on holiday and fell head over heels in love with the place.

It’s easy to do. Bounding into the Pattaya office all shiny happy and smiley to declare they have finally found nirvana and are now determined to buy that house on the hill that they happened upon on by chance on a drive round the island or saw in an estate agents window and can we help them with the formalities to get it done as soon as possible please.

Comparing the price of the property to something much less substantial in their home town where it’s also freezing cold with horizontal driving rain and dark at 4 o’clock in the afternoon and still is at 8am, only adds fuel to the fire to buy it now before someone else grabs it.

This must be a one off opportunity after all and there surely can’t be many others like it at that price. Why wouldn’t you buy it? Explanations follow that as a foreign buyer (*without a Thai family) you cannot actually own a landed property outright.

Yes you can own the house structure but not the land that it is on or that which surrounds it… huh? Would it not perhaps be better to rent for a years cooling off period first? And anyway why on earth would anyone buy something they can’t legally own? Bizarre.

‘But wait, the firm next to the agents offices said we could use their staff to be our
shareholders in a company that can buy it for us! We can only own 40% of the shares in it but we control it, that seems fair doesn’t it? ‘ … and so it goes on.

So, fast forward two years perhaps four, and the same house is back on the market at a heavily discounted sale price often significantly less than it was bought for.

The quasi ‘owners‘ have had enough and just want to go home to the familiar comfort of old friends, wet summers dark winters and free health care.

To add to that disappointment and frustration comes all the hassle and costs associated with now trying to sell the house and the land, exit the ‘company’ and transfer the sale proceeds back home.

The dream turned into a nightmare. Some just leave it and go home anyway.

They are the houses you can often see around holiday areas that look more than a tad dilapidated