Buying studio near cosy beach,Pattaya.

[rocket]

Im thinking of buying a studio so I might live in one and rent out another.Is anyone familiar with the cosy beach area,its on "the hill",halfway between Jomtien and Pattaya.the project Im looking at is called the Cliffs and its near royal cliff resort. I would think an auto would be needed as its not on the main baht bus route. This is a 27 story building and the lower five floors are sold out,as well as the 22nd floor. Why would one buy on such a low floor aside from the price being slightly lower? Maybe a realtor bought up the 22nd floor to resell. I really wanted to buy into the Lofts at Southshore project being proposed by the raiman group(they built northshore and northpoint,higher end buildings),but doesnt look like it will get done due to the world wide recession. Any thoughts on this project or any others in the Pattaya area?

[puckered_penguin]

I have just paid a deposit into an escrow account for a 91.2 sq. meter condo on a higher floor of the Cliffs. It is a fast selling project and several floors have been bought by letting agents and speculators.
You should be aware that they will not start building until the middle of next year and the finish date is some 3 years away.
There are a lot of developments in the Cosy Beach area and it is not difficult to get a baht bus or a taxi bike from there but more difficult going to there. As more developments get completed I guess more baht buses will route there.
The beach is down very steep steps and is fairly popular though last time I was there there were a large number of dogs roaming around.
Personally I think this is one of the better priced condominiums and Nova have a good reputation. I would only ever buy a condo in Pattaya if it has a sea-view. They are easier to let and easier to sell. The Cliffs is still a fair way back from the sea but a high floor should maintain a sea view even if other condos are built in the foreground.
I think Raimon projects are of poor value and the Company has has some considerable financial problems even before this recession, but Northshore certainly sold well.
Incidentally with The Cliffs look for some extras like a discount of about 2%, Fully fitted kitchen or TVs etc.

[rocket]

Thats fantastic getting a large unit on a high floor.Im sure your going to love it if you stay there. If i decide to buy there Ill have to settle for a 37 or 47 sq,mtr,but on a high floor. I dont see the point in getting a lower floor,maybe getting your view blocked.Or being on the wrong side of the building without a sea view. The nice thing would be getting a finished unit,I finished a shell in vt 5 and it was a bit stressfull.I havnt even seen what it looks like yet but Im renting it out. The reason I was interested in the loft south shore was the fact it was to be 46 and 36 floors respectively,two buildings. Ive got a thing for hieghts,lol. Good luck with your purchase Penguin.

[stockyguy]

I have just paid a deposit into an escrow account........You should be aware that they will not start building until the middle of next year and the finish date is some 3 years away...

I am not an expert in buying properties in Pattaya.

it just seem challenging enough to purchase in a foreign country where law is shabby, let alone making an investment based on animated models and illustrated drawings. Look at what is happening to dubai world and all the unfinished real estate development on the manmade islands.

to me, it's always nice to buy an actual finished project where you can feel and touch. looking at a house dated a few years i can have a good idea who my neighbors are and how does the maintenance go. a 5 old building in a developed community may even represent good value as well.

just my two cents, and good luck!

[bing]

Just a thought on why the lower floors get filled up. If there is a fire, Buddah forbid, there is no ladder that can to past the 7th or 8th floor.

[rocket]

Just a thought on why the lower floors get filled up. If there is a fire, Buddah forbid, there is no ladder that can to past the 7th or 8th floor

That could be,however I believe it might be the fact that they are the lowest priced units,almost a million baht lower in price for certain units.You pay more for the good side of the building and higher floor. Im on 21st floor in vt5 but we have fire stairs on each side of the building. They reccommend a metal escape rope.Ive seen a pair of human wings for sale that might save your life if you decide to use them.Hope never to be in such a situation.

[paul2257]

Honey, Cosy beach was so nice years ago. The first people to settle there were mainly from south africa. Peak Condo was popular. I had a friend there with a GH where the Dynasty Hotel now stands. The beach itself was quiet and no speed boats etc, hardly any hawkers, and some good shade in the afternoons.

It is now Russian central for a good 6 months of the year. There are no thai places to eat, and russian signs everywhere. I feel like a foreigner here, sweetie.

Baht bus does pass at top of main rd near police box.

Furthermore, I would hate to buy a condo there and have noisy drunken trashy Russian neighbours, and loads of short time holiday residents. Look elsewhere sweetie.

The only reason I would venture to the cosy area would be to cruise Buddha Hill in the evenings......................

[thrillbill]

Those of us who live in Pattaya (I have lived here for 5 years so far) will have to get use to the Russians taking over the place-- 5 years ago, very few of them. I read last year where they make up 60% of the tourists in Pattaya. It is probably higher than that right nowI find it amazing they're even found on the small sois in Naklua or Jomtien.

Next, with all the condos being built, why don't the prices go down?

[rocket]

[/quote]

Next, with all the condos being built, why don't the prices go down?

Thats all foreigners can own.If they allow buying of houses and land then the condo market would crash.

It is now Russian central for a good 6 months of the year. There are no thai places to eat, and russian signs everywhere. I feel like a foreigner here, sweetie.

Most Russians are homophobes,from the stories Ive heard by the farangs I know living here,will have to think twice about cosy beach.

[mekong]

Cosy Beach Hotel used to be our little secret until about 3 years ago and the Russian Invasion. Never again. The hotel was awash with scowling, humourless Russians who took over every pool lounge, every restaurant and changed the very tone of the neighbourhood. I'd look elsewhere if I were you. How about further around in the development beside Cabbages & Condoms. Even so, Rabbit Resort has also changed now with Russians everywhere according to my friends who were fixtures there. These people are now looking at Char Am and Hua Hin for holidays.

[rocket]

Sounds like gays are being out muscled by the Russians.I was interested in the Cliffs at cozy beach because its to be 27 floors.Ive read where Russian buying of property has dried up in the last year.Maybe because of the recession,hopefully a new trend has developed and they wont take over in such high concentrations. Ive found high units at Star beach and Pattaya hill condos,if anyone has the scoop on these older properties I would love to hear about it.

[Shuee]

what about that new super largest building in thailand, the OC1 tower, its still a cement factory where it should stand & not even started the foundations, will it ever get going i wonder? how many of you are concerned about your deposits you invested?
how many tried to back out but couldnt when they realised it was too late?

[giggsy]

Perhaps jinks will answer all these questions on pattayagaytv next week.