Thailand Real Estate Talk – The Advantages Of Condominium Units In Pattaya

Like in any real estate ventures, buying a condominium unit should be done with responsibility and caution. This a favor not only for yourself but for your hard-earned fortune, since the amount it involves is serious. The task to be undertaken may be tedious, but the results will be rewarding. With the proper research and know-how, you may land a great deal investing in a Pattaya condo for sale. But in all the beauty and wonders of Thailand, why Pattaya?

There are a lot of great reasons to win in considering to invest in a Pattaya condo for sale. Purchasing any real estate in Pattaya is a great decision as the resort city itself attracts five million tourists annually. This has been consistent for more than ten years, so it is not just a short-term trend. But, buying a condominium, in particular, is more recommended. The real estate market trend proves a condominium unit is more advantageous for those who seek more value on their investment.

Location, location, location

It is in Pattaya, there isn’t really anything more to add. But for those who do not know, Pattaya is a premier location not only for vacationers but also those who want to settle down. The continuous popularity for over a decade means that long-term development plans were set for Pattaya, and having gained so much from this means they will not stop keeping it a premier destination. This being said it brings us to the second advantage, good investment.

Good investment

Most real estate properties are a good investment. But unfortunate circumstances and poor planning may force it to depreciate. Many areas in the world have deteriorated forcing properties to depreciate in value. But Pattaya has proven itself to be progressing, and such rising economy will yield more in the future, thus taking care of it has been a priority. Many properties in Pattaya has grown two or threefold over the years, thus eyeing it as your next investment is worth considering.

Cheaper

Getting a property in a progressing location at a more available price than anywhere else at par with Pattaya is nothing but obviously advantageous. It is wise to also consider building standards and quality, but with the variety of options in Pattaya, there surely are more than a handful of property developments that is a gem for its price.

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Financial Considerations When Buying Condo In Bangkok

Your financial responsibility does not end after you closed a deal for a Bangkok condo for sale. As a matter of fact, it has only begun. If you will mortgage the unit, you have the monthly payment to think about, to begin with. However, even if you opt for a one-time payment for the entire unit, there are other fees that you need to think about. This is not to discourage potential buyers of condo in Bangkok. This is just about giving the prospective buyer an idea on the additional payments and fees that he has to prepare for when he is already occupying the condo unit.

Apart from the usual monthly utility bills, there is also condominium fee to think about.  Condo fees are monthly dues collected from each unit owner. The amount collected is used to pay for monthly utilities and maintenance of areas commonly shared by individual owners of the building. The payment for property and liability insurance for the building’s exterior and common areas are also taken from the monthly dues. The amount of monthly dues for Bangkok condo for sale depends on the size or floor area of the unit. For instance, the owner of a two-bedroom unit with 1,500 square feet will pay lower monthly dues compared to an owner with three-bedroom, 2,000  square feet unit. The location and floor of the condo unit will also affect the amount of monthly dues collectible from the owner. As an example, condo units situated in lower floors are more expensive and are more sellable compared to units situated in higher floors.

The amount of condo fees also differ from one developer to another including the amenities present in the building. Before buying a Bangkok condo for sale, check the unit’s financial history from the condominium’s association treasurer. The treasurer should be able to provide trends and history including the standing reserve fund of the building. The higher the reserve fund is, the better. This goes to show that condo association can easily fund emergency repairs and maintenance needs at any given time.

 

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The New Breed Of Young Investors In Perth

A new breed of first homebuyers known as the “rentvestors” is taking advantage of the bargain property market in Perth. They are seeking their first home purchase in investment properties in Perth where the property market is not that expensive.

About 25 percent of the first homebuyers in west Australia are purchasing their first home properties as investment properties. This is the highest recorded rate in the country according to the report from Mortgage Choice. The attraction comes in a “rentvesting strategy”. This particular strategy sees the younger people to continue living in rental properties while at the same time becoming the landlords of them- this is the fastest growing trend in the new generation of buyers.

The director of Graham Joyce said that the trend is driven by the desire of the younger buyers to acquire homes that are close to the city but at the same time get their foot as well in the market. The place that they might be able to afford to invest in does not necessarily mean the place that they want to live as most young people want to live close to the place where they work or close to the city. However, they can only afford a house that is further out of the city. It is for this reason that they opt to rent properties. By renting a property while at the same time also investing, they can fulfill their suburb dream and at the same time also earn money on their investment property. With the prices down on rents, today is the best time to jump into this strategy.

The director of M Residential said that while most of the young investors are able to negatively gear their own properties, it is often cheaper for them to take the path of investment before actually purchasing their dream house. The director stressed that savvy buyers would make calculations first and compare their costs as owner occupiers in contrast to investors. The current generation is deemed to be investment focused and most of the young people want to create a portfolio first before acquiring a dream home. It is also for this reason that rentals of granny flats WA are also on the rise.

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Home Values Of Retirees In UK Continue To Rise

Research indicates that retired property holders in UK experienced wealth growth to almost £17.5 billion over the last 3 months while costs of homes keep rising.

Retirees who are the owner of their houses have earned an average of £3,725 from each home for 3 months. This is a record breaking value, basing on an index made by Key retirement financial expert.

Since January 2010, housing property wealth of pensioners over 65 years old has risen by 14% or £111 billion. This individually equates to an average of £23,700 for each house owner.

Home owners aged above 65 years old have a summed property value of £891.249 billion according to Pensioner Property Index. Key is convinced that the robust growth in real estate values will expand equity release market more which allows property owners to let go of wealth from their houses. Clients letting go of assets wealth are taking an average of £68,500, basing from the figures.

Pensioners in London gained the most at an average of £14,238 for every home owner in the last 3 months alone. Meanwhile, pensioners from South East of England are still doing well with £8,290. Retired home owners in East Anglia gained £8,524.

The data from Key presents a fifth of the total population of retirees’ property equity is owned by pensioners who are more than 65 years old. Their summed wealth equates to £178.894 billion. Most of the accumulated wealth came from London, the South East and the South West of England and East Anglia.

Dean Mirfin, technical manager of Key Retirement explained that the health of the home market is mirrored by the development of amounts given by means of equity release campaigns which are increased to an average of £68,500. The successful outcome of real estate investment for millions of pensioners, stresses the vitality of house assets and must be included in everyone’s retirement plan.

Real estate values have ups and downs but home owners above 65 years old regulate over £891 billion of assets. This can contribute to improving quality of life upon retirement and ProDecor home improvements. Retirees though, need expert advice before releasing their wealth from homes.

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Bob Dylan’s Famous Apartment Is Now Available As Luxury Self-Catering Accommodation

Big Pink, the cool apartment of Bob Dylan is now open for anyone to use as a luxury self-catering accommodation. Just before the golden anniversary of Bob Dylan’s famous album Highway 61 Revisited, the celebrated house has been opened for rent. The famous property is located in West Saugerties at the state of New York. This was the house where Dylan and his company had their gigs. Some of the demos from these gigs later composed Dylan’s famous albums.

Big Pink used to be a property for rent before Dylan and his Bassist found it and transformed it into an ideal place for song demos. Evaluations on the holiday listing promise that the current owners did a great job in preserving the classic ambiance of the house. Don and Sue are the present-day holders of the property.

After a controversial motorcycle mishap in a worldwide famous concert, Dylan closed himself from the public at his apartment. The concert happened on the 29th day of July, 1966. He did not go on tour for almost a decade. During his downhearted moments, his band members lived with him at the house.

The apartment was called Big Pink because of the painting on the apartment’s side which was pink. It was also the basis of The Band’s first song collection. Their debut album was formed in Studios from Los Angeles and New York. However, most of the songs had humble beginnings at the ground floor of Big Pink.

The luxury self-catering accommodation costs $650 per night. If you opt to stay for a week, you will pay $2,750. Occupants are required to stay for at least two nights. Up to 9 persons are allowed to stay. Kids and pets are not allowed in the Big Pink though.

The Big Pink’s dormer features a central staircase which leads to a dining room. The right side of the staircase is a bar furniture, kitchen with a pebble counter-top, bathroom and a cozy couch. The bedroom is located at the left side of the staircase. The room is temperature regulated and has Wi-Fi. Nature views can be seen from the room.

The chief floor has two bed rooms with a sun room, living room, writing table and furnace. It also has a dining area with antique table and a kitchen.

Unfortunately, the lower ground floor is not counted in the rental.

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Is There An Oversupply Of Condos For Sale In Hua Hin?

The peak season for Condos for Sale in Hua Hin is between March and May which means a waiting time of about a year or a year and a half before they are completely sold out. Property Perfect Pic’s first condominium project, Bella Costs in Hua Hin is worth 1.67 billion baht but its recorded presales are worth 350 million baht of total market value. About 90% of its customers are locals while the remaining 10% is foreign buyers from Asia and Europe.

Most of the demand comes from Bangkok because people are looking for a second home in the holiday resort rather than a first home. However, according to Pairoj Wattanavorodum, the managing director of The Confidence Co that launched the condominium project Trust Hua Hin 2013, Condos for Sale in Hua Hin have an oversupply because developers from Bangkok have decided to move to the holiday resort. When the economy took a downturn, demand for property in the area suffered. However, there were signs of recovery since the last quarter of 2014 and if the economy grows by at least 4%, property demand is expected to increase.

The main demand for residential units in Hua Hin comes from locals and Scandinavian countries but more recently, investors from China, Singapore and Hong Kong are showing interest in expanding their investments in Hua Hin. Other Condos for Sale in Hua Hin which were launched in 2012 are now recording presales between 40% and 60% on the average.

According to survey by Colliers International in Thailand, there will be at least 16,000 condo units in Hua Hin this year which would take at 18 months to sell even without any additional residential project that will be launched. About 8,800 units are expected to be completed this year with nearly 5,000 units located within the Cha-am area and 1,880 units in Hua Hin.

Since 2012, the prices of land that are closest to the beach have more than doubled in spite of the glut in demand. Seven years ago, land for development in Hua Hin was 20 million baht per rai but they are now valued at 120 million baht per rai. There is also a boost in the prices of property in other sites that are near the beach.

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A Favorable Outlook Despite Pressing Times

Combined reports gathered this April did not show promising signs in an improving housing sector and for the overall US economy. Despite the bleak performance of the market, financial advisors at HomeUnion Investment Properties will give you a sound advice to continue your real estate investments. The downturn is not permanent and is expected to be in the short term only.

The manufacturing sector has also suffered severely by the 13 percent appreciation of the dollar against the different currencies trading in the United States. US stocks also fell short. Organic growth in corporate results is pulling the stock prices down. The prices of US government debt also fell and as a result, the dollar weakened against other currencies.

Despite the challenging times and weakness experienced by different market sectors, the housing sector still remains favorable due to a strengthened labor market.

In a separate report, the Labor Department disclosed that there is a rise in the number of Americans seeking unemployment assistance. The trend suggests that the jobs market has continued to tighten as there is an increase in the long term unemployed finding jobs. Claims for the state unemployment aid rose by 12,000. By the end of April 11, the total number reached 294,000.

However, the claims should not be the direct basis for the growing unemployment rate since the number of claims tend to be unstable especially that holidays like Easter and school spring break are moving. The model that the government uses is thrown off track due to these seasonal fluctuations.

It is to be noted though that the number of people seeking the unemployment benefits was the lowest since December of 2000. An economist at Barclays said that their company has continued to view the unemployment claims data as an improvement in the labor market.

While people are receiving pay check and lending has eased, the trend of attracting home buyers is expected within the year. America’s banking giants JP Morgan and Bank of America reported that there is a significant increase in mortgage lending in the first quarter of this year. It is expected that the numbers will double in the next quarters.

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