Thursday, July 29, 2010
Thursday, July 22, 2010
Wednesday, July 21, 2010
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Thursday, July 15, 2010
Wednesday, July 14, 2010
Tuesday, July 13, 2010
Monday, July 12, 2010
Village to a City
Special privileges…only in Thailand!
After a while things always start to fade…
Before you dream to have a sports’ car and once you have one; it is considered the most normal thing in this world…
I spoke with the managing director, Cees Cuijpers, of Town & Country Property who lives in Thailand nearly 12 years. He is active in real-estate for many years with his company and runs 3 offices in Pattaya.
When I first came to Pattaya the “city” was still just “a village”.
I have witnessed grown over a decade now and it is almost ‘a dream’ for every property-minded individual. Our company started not only to become active in general real-estate doing sales & rentals but started to build our own developments to cater to the growing needs of our clients; of which most of the (95%) are foreigners.
To build your own product you have a better ability to control the end-result and give your clients what they are really looking for…
At this moment Town & Country Property features the luxury estate “Whispering Palms” at the doorsteps of the Horseshoe Point Resort at Maprachan Lake; “The Meadows” a modern housing project with 46 completed residences and the fascinating condo-project “The Residence Jomtien Beach”, 68 deluxe apartments near Jomtien Beach. All properties completed and “ready to move-in”!
Just only 10 years ago, one could not imagine that it was feasible that a sustained growth of Pattaya would have reached its current standards. Pattaya has become not only Thailand’s biggest holiday resort but has also become the 2nd largest city next to Bangkok.
Sometimes you don’t realize how privileged we are to live in this wonderful country!
Initially, in most cases, foreigners living in Thailand fell in love with Thailand because of its wonderful climate, the food, Thais themselves and the laid-back affordable lifestyle.
Compared to the “Western-World”, Thailand offers all you can dream of at only 20-25% of the costs you would have back in your own country of origin.
When I travel and return back to Thailand, it genuinely feels like “I am coming back home” as soon as the air-plain touches land in Bangkok. It is like a “rendezvous” (and a great feeling) to realize again how fortunate we are to live here after you visited other destinations in the world…
I am sure many fellow-men will have the same feeling like I do.
Sometimes it is good to “face the mirror” and question yourself: What is it more that I am looking for than living here in Paradise?
Of course, over the years we have seen the ‘domestic affairs’ that Thailand is dealing with; but overall that never affected our well-being here.
Even in the worldwide economical downscale, Thailand is performing very well and is still going strong compared to many other countries in this world.
Our company has served hundreds of clients over the years and many are telling me: “It was the best decision of my life! And still is!”
Now, if you are debating over “shall I or shall I not”…contact me for a personal chat and I will be more than happy to sit-down for a coffee and a chat.
Not just only properties, but we can talk about all privileges you can experience here in Thailand that are so difficult to find these days back in your own country…
Cees Cuijpers told Thai Fokus that interested readers can always contact him at the head-office of Town & Country Property located on Pattaya-Tai road (Tel: +66(0)3837-4136) or simply write him an email with any possible query you might have: info@towncountryproperty.com
After a while things always start to fade…
Before you dream to have a sports’ car and once you have one; it is considered the most normal thing in this world…
I spoke with the managing director, Cees Cuijpers, of Town & Country Property who lives in Thailand nearly 12 years. He is active in real-estate for many years with his company and runs 3 offices in Pattaya.
When I first came to Pattaya the “city” was still just “a village”.
I have witnessed grown over a decade now and it is almost ‘a dream’ for every property-minded individual. Our company started not only to become active in general real-estate doing sales & rentals but started to build our own developments to cater to the growing needs of our clients; of which most of the (95%) are foreigners.
To build your own product you have a better ability to control the end-result and give your clients what they are really looking for…
At this moment Town & Country Property features the luxury estate “Whispering Palms” at the doorsteps of the Horseshoe Point Resort at Maprachan Lake; “The Meadows” a modern housing project with 46 completed residences and the fascinating condo-project “The Residence Jomtien Beach”, 68 deluxe apartments near Jomtien Beach. All properties completed and “ready to move-in”!
Just only 10 years ago, one could not imagine that it was feasible that a sustained growth of Pattaya would have reached its current standards. Pattaya has become not only Thailand’s biggest holiday resort but has also become the 2nd largest city next to Bangkok.
Sometimes you don’t realize how privileged we are to live in this wonderful country!
Initially, in most cases, foreigners living in Thailand fell in love with Thailand because of its wonderful climate, the food, Thais themselves and the laid-back affordable lifestyle.
Compared to the “Western-World”, Thailand offers all you can dream of at only 20-25% of the costs you would have back in your own country of origin.
When I travel and return back to Thailand, it genuinely feels like “I am coming back home” as soon as the air-plain touches land in Bangkok. It is like a “rendezvous” (and a great feeling) to realize again how fortunate we are to live here after you visited other destinations in the world…
I am sure many fellow-men will have the same feeling like I do.
Sometimes it is good to “face the mirror” and question yourself: What is it more that I am looking for than living here in Paradise?
Of course, over the years we have seen the ‘domestic affairs’ that Thailand is dealing with; but overall that never affected our well-being here.
Even in the worldwide economical downscale, Thailand is performing very well and is still going strong compared to many other countries in this world.
Our company has served hundreds of clients over the years and many are telling me: “It was the best decision of my life! And still is!”
Now, if you are debating over “shall I or shall I not”…contact me for a personal chat and I will be more than happy to sit-down for a coffee and a chat.
Not just only properties, but we can talk about all privileges you can experience here in Thailand that are so difficult to find these days back in your own country…
Cees Cuijpers told Thai Fokus that interested readers can always contact him at the head-office of Town & Country Property located on Pattaya-Tai road (Tel: +66(0)3837-4136) or simply write him an email with any possible query you might have: info@towncountryproperty.com
Wednesday, July 7, 2010
A break from investment- fun with helping kids!
Fun way to help kids
….Charity golf tournament promises to attract the major business players…
A top day in terms of sporting enjoyment, business networking and aid for charity is in store next month when the inaugural Movers & Shakers 2009 golf tournament is held at the Navy’s Plutaluang course near Sattahip. The event is co-sponsored by Town & Country Property, the brokers and developers; JVK, the international movers; and Real Estate Magazine. “September 25 promises to be a great day,” said Town & Country MD, Cees Cuijpers. “We’ll get the chance to enjoy a relaxing outing in the company of old friends and, hopefully, also make a few new ones.” Cees, who by his own admission is “no golfer”, had the idea of combining the event with a meeting of the Lighthouse Club charity which supports the children of construction workers. The day’s golf will be followed by the regular Lighthouse monthly meeting which is being held at the exclusive members-only Royal Varuna Yacht Club on Pratamnak. The club has its own stretch of beach. The golf prizes will be handed out at the Lighthouse function. “Any cash surplus after we have settled up with the golf course and yacht club will be donated to the Lighthouse Club,” said Cees. The format for the golf will be a Texas Scramble where all four players drive off the tee then the best shot is chosen as the start place for each player to take their second shot and so on until the hole is completed. “It’s a fun and friendly format which means that the four players are playing for each other rather than just for themselves,” said Craig Somerville, JVK’s customer relations manager. “We hope to raise a good sum from sponsorship of raffle items and technical prizes like the longest drive, closest to the hole and so on,” said John Black, MD of Pattaya Property Consultants.
John, who is a golfer, though opportunities to play are few and far between thanks to his involvement in property publications here in Pattaya, is keen to hear from companies interested in being involved in terms of sponsorship and/or entering a team. “Numbers will be limited so we can get around the course in a reasonable time. We will be treating players on a ‘first come; first served’ basis,” said John. Cost per player is only Bt 1,250 to include caddy fee and admission to the Lighthouse meeting which offers free “finger-food” and beer and wine while supplies last. The hire of golf buggies will be an optional extra. Events planned for the evening should ensure that even those unable to attend the golf should be in for a good time. Entertainment will be provided by Princess Music and a swimwear show featuring items from the extensive Phuket Mermaids collection will also be held. Sponsorships are already coming in with companies like the Nova Group and The Balcony Restaurant pledging items as prizes. All sponsors will be largely exposed during the event to receive their well-deserved media attention!
For further information you contact John Black at movers-shakers@hotmail.com or by phone on 081 894 2118.
Team-Up for Charity and join this wonderful event!
….Charity golf tournament promises to attract the major business players…
A top day in terms of sporting enjoyment, business networking and aid for charity is in store next month when the inaugural Movers & Shakers 2009 golf tournament is held at the Navy’s Plutaluang course near Sattahip. The event is co-sponsored by Town & Country Property, the brokers and developers; JVK, the international movers; and Real Estate Magazine. “September 25 promises to be a great day,” said Town & Country MD, Cees Cuijpers. “We’ll get the chance to enjoy a relaxing outing in the company of old friends and, hopefully, also make a few new ones.” Cees, who by his own admission is “no golfer”, had the idea of combining the event with a meeting of the Lighthouse Club charity which supports the children of construction workers. The day’s golf will be followed by the regular Lighthouse monthly meeting which is being held at the exclusive members-only Royal Varuna Yacht Club on Pratamnak. The club has its own stretch of beach. The golf prizes will be handed out at the Lighthouse function. “Any cash surplus after we have settled up with the golf course and yacht club will be donated to the Lighthouse Club,” said Cees. The format for the golf will be a Texas Scramble where all four players drive off the tee then the best shot is chosen as the start place for each player to take their second shot and so on until the hole is completed. “It’s a fun and friendly format which means that the four players are playing for each other rather than just for themselves,” said Craig Somerville, JVK’s customer relations manager. “We hope to raise a good sum from sponsorship of raffle items and technical prizes like the longest drive, closest to the hole and so on,” said John Black, MD of Pattaya Property Consultants.
John, who is a golfer, though opportunities to play are few and far between thanks to his involvement in property publications here in Pattaya, is keen to hear from companies interested in being involved in terms of sponsorship and/or entering a team. “Numbers will be limited so we can get around the course in a reasonable time. We will be treating players on a ‘first come; first served’ basis,” said John. Cost per player is only Bt 1,250 to include caddy fee and admission to the Lighthouse meeting which offers free “finger-food” and beer and wine while supplies last. The hire of golf buggies will be an optional extra. Events planned for the evening should ensure that even those unable to attend the golf should be in for a good time. Entertainment will be provided by Princess Music and a swimwear show featuring items from the extensive Phuket Mermaids collection will also be held. Sponsorships are already coming in with companies like the Nova Group and The Balcony Restaurant pledging items as prizes. All sponsors will be largely exposed during the event to receive their well-deserved media attention!
For further information you contact John Black at movers-shakers@hotmail.com or by phone on 081 894 2118.
Team-Up for Charity and join this wonderful event!
Town & Country Property- A force to be reckoned with
Town & Country Property: A powerful force to be aware of.
Hello Cees, thanks for agreeing to this interview for the Real Estate Magazine. Our readers find these personal glimpses into the working of the real estate agents very interesting.
Can we start with you telling me about yourself before you came to Thailand?
Of course! I come from Holland and have probably been working all my life in sales and marketing or related fields. I’m 43 years old, unmarried, and I decided when I was 35 that it was time for a chance. My working territory, so to say, was the triangle of Amsterdam, Rotterdam and The Hague. Originally I am from the Eastern part of Holland.
Reason for me to move to Thailand is because I was a little bit fed up with Holland, and, I guess, the environment in Europe. If you are an entrepreneur and would like to achieve some success or design and establish something, it’s getting tougher on you.
I don’t even mention the tax climate of ‘sunny’ Europe…
I’ve been involved in the hospitality industry and logistics for example and to help a couple of friends out I agreed to do the architecture/design for a couple of luxury sandwich bars. I remember it took over a year to get all the permits and licenses in place opening up a sandwich bar in the city of The Hague. I have been working for rather big companies in Holland and operating them, with all the rules and regulations that apply, makes it so difficult to focus on your core business. Most of your effort and attention is put into procedures and things like that, more than anything else instead of focusing on your clients or sales. Although successful, I became very bored and decided to leave Holland. When I announced to a couple of “friends” (acquaintances) that I was going to leave and start a business in Thailand they thought I was crazy. They said: “You have a nice house, a nice car, a good career and you are making quite a bit of money… you must be crazy!” Only my best mates tapped me on the shoulder and complimented me: “Finally”!
I had a friend who was staying in Manila Philippines who had a plan to open a fancy restaurant in Thailand. It was a perfect excuse to wrap up things and prepare myself to move to Thailand.
When did you come here then, and how did your plans work out?
I came here about seven years ago and the first objective was to secure a nice location for the restaurant in a good area in Bangkok. It was tough to find a good location. Everything was either already occupied or too expensive so the broker that we used suggested a property that was available here in Pattaya, a double unit on the corner of Soi Post Office and Beach Road. A former outlet of AW fast-food chain. We opened a night-spot called Samsara Lifestyle and it was pretty successful. We had many clients from Bangkok, movie stars and many trendy people knew where to find us. One of those was a company called Tricon International Restaurants who held the franchise for Pizza Hut. That was in (I think) 2000. That was why Samsara closed. We sold to them and it’s now another Pizza Hut outlet.
I decided to create my own business here in Pattaya and later on began working with an interior designer. We did many residential renovation projects and commercial projects, interiors of bars and hotels and so on. Before I considered moving on to become a building agency that was involved in design, architecture, construction and sales of properties that was probably the time when Town and Country Property came along and I decided to join.
Who founded the company?
Town & Country Property was founded by two people. They had recently opened the business when I met them. We worked well together and I became involved with Town & Country Property just one month after they opened for business. That was in 2003. All of a sudden a very small group became a much bigger group because I brought with me nine staff members so Town and Country Property was not just a broker but a broker with the facility to design and construct private residences or convert places into a commercial bar or a restaurant etc. This whole company evolved into one which dealt with all kinds of property matters. We became so successful and had so many enquiries and so much work, but at the same time we were working as developers and looking at developing our own projects, that last year, in December, we decided to end our entire individual commercial and residential projects so were stopped taking customers who wanted us to design and construct single residences, what was in effect turnkey projects.
We could then focus our attention on our own projects, which is what we still do.
What projects are you currently working on?
We have three projects at the moment. “Whispering Palms”, a luxury project of sixteen villas near the entrance to The Horseshoe Point, the equestrian centre near Mabprachan reservoir. We have The Meadows, a unique modern residential development of 64 houses being built at the top of Soi Nern Plub Wan, and Nova Residence Jomtien, a condominium being built at Soi 17 Thepprasit just behind Jomtien Park Villas. A very up-and-coming location in the heart of Jomtien. All in all we are quite active for a relatively young company. Guess we are quite blessed with a number of talented and experienced staff-members.
When you joined the company what position were you in and how did you progress to your current position?
I started heading the department architecture and turnkey contracting. Then I was a minor shareholder of the company. Over the years a fourth partner came in and later the initial two founders of the company were bought out by us, so together with my Belgian partner we operate the business on a 50 – 50 basis. I am the Managing Director who oversees the day-to-day operations and has personal involvement in all of our marketing, sales and advertising. I’m sales driven; enjoy dealing with clients and like designing art-graphics. My partner Herman, who has an extensive back-ground and experience in construction and development, is taking care of that side of the business. A great combination I would say and a very pleasant working relationship.
How big the company is and what staff do you have now?
We are a very service-oriented company; you need to have sufficient team members in place to be so. We are constantly remodeling the office space and as you can see we are now renovating the left side of the building. That will become our showroom where we will show our project-models and have a guest lounge. There are two floors above us where our designers, architects and accountants work. Our sales office accommodates a very powerful force of sales consultants and sales and marketing assistants.
We focus on quality and are service minded; we do not want to be the biggest realtor in Pattaya; simply the best!
What types of buyers are you getting and how are they buying?
There are two types of buyers and I like them both. There are those who are interested in a condo and there are those interested in a house. Two different profiles. People that are interested in a house don’t mind registering it into a company. I have only come across a very small number who would register the house into a Thai person’s name. People that buy a condo are interested in buying it in their own name. Only when the percentage allowed for purchase by a foreigner is reached they will, especially if the project is very nice, register it into a company name. We rarely see Thai people buying through an agency. They will visit a project-site by themselves, go into the sales office and make their purchase. There is plenty of opportunity for them to do so, they hardly go to an agency and say they are looking for a property. I can easily say that 95% of our customers are foreign. Many different countries but dominated by UK buyers either as end-users or investors. We have a very colorful mix of buyers, those looking for a real bargain and those looking for the utmost luxury. Even through Internet we are very successful to cater to our foreign investors. Probably 60% of all our sales are based on referrals; which, in my opinion is quite unique for such a young company.
Apart from buyers we also see a strong growth of quality tenants interested to rent a luxury home or condo. Those gain property owners an interesting return on their investments up to 10%-12% in some cases. A very healthy market.
What are your thoughts on the property market here in Pattaya?
Property in general is moving. You would think that there is an overload of affordable properties as there are so many villages being built, from starter prices at just under 1 million (Bt), but still they are moving quite fast. A new development starts and within 2 years or so it is fully completed and sold out. Now, people are moving to better quality houses at affordable prices rather than the standard style roof-to-roof-type of village developments, where the developers tries to put in as many properties as possible rather than a little more elegant and a little more spacious with better quality. For the future I would say starter-class developments will get better quality and there is a strong demand for luxury developments. Having been here for seven years I have seen what is going on and know the market from the early stages up until now. I have seen tremendous change from three or four years ago when someone with serious money in their pocket couldn’t spend it on top-quality housing because it simply wasn’t available. Individual residences perhaps, but a secure development where you had a choice of really nice properties, maybe starting at 10 million Bt or more, simply were very hard to find. If you look at the market now there are properties around for 1 million US Dollars, or even more. Even those developments seem to sell.
The type of people who visit or live in Pattaya is also changing. Many years ago the single bachelor came to Pattaya for alcohol and ‘company’, stayed at very affordable hotel accommodation or bought a condo for 1 or 2 million. It is now changing to many more families, couples and people with higher budgets spending serious money on a high quality product.
As for developments and availability in Pattaya, forget Central Pattaya. Everything is already taken; most of it is commercial property, with a few small exceptions like North-shore which is now almost finished. In the early days places like Soi Nern Plub Wan were THE residential development areas. If you go along it and look at the small Soi’s you will see smaller and bigger villages built in there. They aren’t always noticeable because if you drive along you see only shop-houses. It’s a typical technique of Thai developers. They have a land parcel fronting on to a road, they make a nice garden with a security gate on a road leading in to the village and when everything is nearly sold the garden disappears and shop-houses are being built. That is the reason Soi’s like Nern Plub Wan have many shop-houses. The developers then moved over to other Soi’s like Khow Noi, Khow Thalo. It isn’t finished yet. Developers moved to Mabprachan, though now with zoning regulations, no new housing developments are allowed there.
“East Pattaya” is still the strongest residential area of Pattaya and most likely will be so for many more years to come. It offers starters-housing projects up to exclusive projects like the luxury Siam Royal View.
There are now a few hot areas around Pattaya with lots of activity. Wong Amart (north Pattaya – Naklua) is quite hot, it has always been a favorable area for the richer Thais and the German crowd. The coastline is now dominated by commercial developments and luxury condominiums like Saranchol. We see quite a few up-market hotels going up in that area as well. Pratamnak (Buddha Hill) with a combination of low rise condominiums and luxury, nicely finished houses, is definitely one of the hottest spots in town. Over the last couple of years you didn’t see much activity but land parcels were rapidly changing hands. Since the beginning of this year more and more end-users finally got their plot of land and started to build their dream home or development. Land prices in that area are relatively expensive, approximately 25,000 Bt per talang wah. But I still see a growth around. There is also quite a bit of activity in Jomtien, with a variety of condos and houses available. Especially with all new infrastructures going in at this moment, the ‘back-drop’ of Jomtien is getting more and more popular.
Just a matter of a few more years before people will notice it.
Thank you very much Cees.
Hello Cees, thanks for agreeing to this interview for the Real Estate Magazine. Our readers find these personal glimpses into the working of the real estate agents very interesting.
Can we start with you telling me about yourself before you came to Thailand?
Of course! I come from Holland and have probably been working all my life in sales and marketing or related fields. I’m 43 years old, unmarried, and I decided when I was 35 that it was time for a chance. My working territory, so to say, was the triangle of Amsterdam, Rotterdam and The Hague. Originally I am from the Eastern part of Holland.
Reason for me to move to Thailand is because I was a little bit fed up with Holland, and, I guess, the environment in Europe. If you are an entrepreneur and would like to achieve some success or design and establish something, it’s getting tougher on you.
I don’t even mention the tax climate of ‘sunny’ Europe…
I’ve been involved in the hospitality industry and logistics for example and to help a couple of friends out I agreed to do the architecture/design for a couple of luxury sandwich bars. I remember it took over a year to get all the permits and licenses in place opening up a sandwich bar in the city of The Hague. I have been working for rather big companies in Holland and operating them, with all the rules and regulations that apply, makes it so difficult to focus on your core business. Most of your effort and attention is put into procedures and things like that, more than anything else instead of focusing on your clients or sales. Although successful, I became very bored and decided to leave Holland. When I announced to a couple of “friends” (acquaintances) that I was going to leave and start a business in Thailand they thought I was crazy. They said: “You have a nice house, a nice car, a good career and you are making quite a bit of money… you must be crazy!” Only my best mates tapped me on the shoulder and complimented me: “Finally”!
I had a friend who was staying in Manila Philippines who had a plan to open a fancy restaurant in Thailand. It was a perfect excuse to wrap up things and prepare myself to move to Thailand.
When did you come here then, and how did your plans work out?
I came here about seven years ago and the first objective was to secure a nice location for the restaurant in a good area in Bangkok. It was tough to find a good location. Everything was either already occupied or too expensive so the broker that we used suggested a property that was available here in Pattaya, a double unit on the corner of Soi Post Office and Beach Road. A former outlet of AW fast-food chain. We opened a night-spot called Samsara Lifestyle and it was pretty successful. We had many clients from Bangkok, movie stars and many trendy people knew where to find us. One of those was a company called Tricon International Restaurants who held the franchise for Pizza Hut. That was in (I think) 2000. That was why Samsara closed. We sold to them and it’s now another Pizza Hut outlet.
I decided to create my own business here in Pattaya and later on began working with an interior designer. We did many residential renovation projects and commercial projects, interiors of bars and hotels and so on. Before I considered moving on to become a building agency that was involved in design, architecture, construction and sales of properties that was probably the time when Town and Country Property came along and I decided to join.
Who founded the company?
Town & Country Property was founded by two people. They had recently opened the business when I met them. We worked well together and I became involved with Town & Country Property just one month after they opened for business. That was in 2003. All of a sudden a very small group became a much bigger group because I brought with me nine staff members so Town and Country Property was not just a broker but a broker with the facility to design and construct private residences or convert places into a commercial bar or a restaurant etc. This whole company evolved into one which dealt with all kinds of property matters. We became so successful and had so many enquiries and so much work, but at the same time we were working as developers and looking at developing our own projects, that last year, in December, we decided to end our entire individual commercial and residential projects so were stopped taking customers who wanted us to design and construct single residences, what was in effect turnkey projects.
We could then focus our attention on our own projects, which is what we still do.
What projects are you currently working on?
We have three projects at the moment. “Whispering Palms”, a luxury project of sixteen villas near the entrance to The Horseshoe Point, the equestrian centre near Mabprachan reservoir. We have The Meadows, a unique modern residential development of 64 houses being built at the top of Soi Nern Plub Wan, and Nova Residence Jomtien, a condominium being built at Soi 17 Thepprasit just behind Jomtien Park Villas. A very up-and-coming location in the heart of Jomtien. All in all we are quite active for a relatively young company. Guess we are quite blessed with a number of talented and experienced staff-members.
When you joined the company what position were you in and how did you progress to your current position?
I started heading the department architecture and turnkey contracting. Then I was a minor shareholder of the company. Over the years a fourth partner came in and later the initial two founders of the company were bought out by us, so together with my Belgian partner we operate the business on a 50 – 50 basis. I am the Managing Director who oversees the day-to-day operations and has personal involvement in all of our marketing, sales and advertising. I’m sales driven; enjoy dealing with clients and like designing art-graphics. My partner Herman, who has an extensive back-ground and experience in construction and development, is taking care of that side of the business. A great combination I would say and a very pleasant working relationship.
How big the company is and what staff do you have now?
We are a very service-oriented company; you need to have sufficient team members in place to be so. We are constantly remodeling the office space and as you can see we are now renovating the left side of the building. That will become our showroom where we will show our project-models and have a guest lounge. There are two floors above us where our designers, architects and accountants work. Our sales office accommodates a very powerful force of sales consultants and sales and marketing assistants.
We focus on quality and are service minded; we do not want to be the biggest realtor in Pattaya; simply the best!
What types of buyers are you getting and how are they buying?
There are two types of buyers and I like them both. There are those who are interested in a condo and there are those interested in a house. Two different profiles. People that are interested in a house don’t mind registering it into a company. I have only come across a very small number who would register the house into a Thai person’s name. People that buy a condo are interested in buying it in their own name. Only when the percentage allowed for purchase by a foreigner is reached they will, especially if the project is very nice, register it into a company name. We rarely see Thai people buying through an agency. They will visit a project-site by themselves, go into the sales office and make their purchase. There is plenty of opportunity for them to do so, they hardly go to an agency and say they are looking for a property. I can easily say that 95% of our customers are foreign. Many different countries but dominated by UK buyers either as end-users or investors. We have a very colorful mix of buyers, those looking for a real bargain and those looking for the utmost luxury. Even through Internet we are very successful to cater to our foreign investors. Probably 60% of all our sales are based on referrals; which, in my opinion is quite unique for such a young company.
Apart from buyers we also see a strong growth of quality tenants interested to rent a luxury home or condo. Those gain property owners an interesting return on their investments up to 10%-12% in some cases. A very healthy market.
What are your thoughts on the property market here in Pattaya?
Property in general is moving. You would think that there is an overload of affordable properties as there are so many villages being built, from starter prices at just under 1 million (Bt), but still they are moving quite fast. A new development starts and within 2 years or so it is fully completed and sold out. Now, people are moving to better quality houses at affordable prices rather than the standard style roof-to-roof-type of village developments, where the developers tries to put in as many properties as possible rather than a little more elegant and a little more spacious with better quality. For the future I would say starter-class developments will get better quality and there is a strong demand for luxury developments. Having been here for seven years I have seen what is going on and know the market from the early stages up until now. I have seen tremendous change from three or four years ago when someone with serious money in their pocket couldn’t spend it on top-quality housing because it simply wasn’t available. Individual residences perhaps, but a secure development where you had a choice of really nice properties, maybe starting at 10 million Bt or more, simply were very hard to find. If you look at the market now there are properties around for 1 million US Dollars, or even more. Even those developments seem to sell.
The type of people who visit or live in Pattaya is also changing. Many years ago the single bachelor came to Pattaya for alcohol and ‘company’, stayed at very affordable hotel accommodation or bought a condo for 1 or 2 million. It is now changing to many more families, couples and people with higher budgets spending serious money on a high quality product.
As for developments and availability in Pattaya, forget Central Pattaya. Everything is already taken; most of it is commercial property, with a few small exceptions like North-shore which is now almost finished. In the early days places like Soi Nern Plub Wan were THE residential development areas. If you go along it and look at the small Soi’s you will see smaller and bigger villages built in there. They aren’t always noticeable because if you drive along you see only shop-houses. It’s a typical technique of Thai developers. They have a land parcel fronting on to a road, they make a nice garden with a security gate on a road leading in to the village and when everything is nearly sold the garden disappears and shop-houses are being built. That is the reason Soi’s like Nern Plub Wan have many shop-houses. The developers then moved over to other Soi’s like Khow Noi, Khow Thalo. It isn’t finished yet. Developers moved to Mabprachan, though now with zoning regulations, no new housing developments are allowed there.
“East Pattaya” is still the strongest residential area of Pattaya and most likely will be so for many more years to come. It offers starters-housing projects up to exclusive projects like the luxury Siam Royal View.
There are now a few hot areas around Pattaya with lots of activity. Wong Amart (north Pattaya – Naklua) is quite hot, it has always been a favorable area for the richer Thais and the German crowd. The coastline is now dominated by commercial developments and luxury condominiums like Saranchol. We see quite a few up-market hotels going up in that area as well. Pratamnak (Buddha Hill) with a combination of low rise condominiums and luxury, nicely finished houses, is definitely one of the hottest spots in town. Over the last couple of years you didn’t see much activity but land parcels were rapidly changing hands. Since the beginning of this year more and more end-users finally got their plot of land and started to build their dream home or development. Land prices in that area are relatively expensive, approximately 25,000 Bt per talang wah. But I still see a growth around. There is also quite a bit of activity in Jomtien, with a variety of condos and houses available. Especially with all new infrastructures going in at this moment, the ‘back-drop’ of Jomtien is getting more and more popular.
Just a matter of a few more years before people will notice it.
Thank you very much Cees.
Cash Flow Investment
INTRODUCTION
Many people dream to have a life abroad and many have “made-it” to Thailand…and of course, why not?
Thailand is a beautiful place to live and work…to enjoy your own personal pace of life and many other benefits.
To be able to live your life with not too much financial worries, it is for many people, a safety-net to earn money in the local currency.
Not everyone who visits Thailand work here, thus having to rely on their earnings from abroad; savings they make from work, past incomes from work, investments or pension.
With always the fluctuating currency exchange rates, relying on your previous savings, investment or pension this is not the most reliable way to account for your private financial bookkeeping, here in the Land of Smiles.
Therefore it would be great if you could ‘generate’ a steady ‘domestic income’, or cash-flow, that does not suffer from a highly fluctuating currency market.
"KNOW-HOW's"
In SE-Asia (Thailand in particular) there is a very healthy and prosperous property-rental market.
Especially when we focus on in Pattaya; we quickly come across a few essentials of which, one of them is probably most important: the LOCATION. This is because Pattaya neighbors the biggest seaport of Thailand called Leam Chabang.
Almost worldwide, you will see a strong popularization of cities that are located in the vicinity of the country’s biggest seaport. An almost ‘automatic’ attraction for industrial estates that belong in the genre of (international) warehousing, logistics, assembling- factories etc.
Pattaya also offers an excellent infrastructure connecting Thailand’s metropolis Bangkok…
It is not a surprise that there is a strong (expat) rental market here…
As for the domestic market: a rental home is a suitable answer for those that cannot afford to buy a home and then there are of course the tourists that could be interested in a short-term rental property… (Beware that short-term lets require meticulous caring on the landlord’s part…)
With that in mind, smart moneymakers are getting a chance at a profitable business opportunity. Basically put, they simply invest on a residential property and have it rented by trusted and reliable tenants. It starts off with a clear research on the specific areas where the need for a home is at its highest.
You will find that it is very often the ‘same kind’ of property that most tenants are looking for….
CONSIDERATIONS
Trial and error is rarely the best method if you are serious about turning your investments into income. Many people waste precious time and money learning the tricks of the trade the hard way. It is therefore my advice to always use the services of an experienced real-estate agent. It is not only so that they know the market much better; but they keep nice “stock” in their portfolios including possible bargains and fire-sales; they are familiar with most residential estates including condo developments; but moreover, they are also in direct contact with potential (corporate) tenants!
Having said that, you are ultimately killing 2 birds with 1 stone!
…Did you ever consider that your broker might have properties on the books with ‘live-in’ tenants? You would purchase a property and immediately make an earning out of it!
If this could be combined with an owner’s (or developer’s) finance; you might end-up in a situation whereby your tenant is paying most of your interest, if any… Wow!
Another important consideration reflects on your personal circumstances: If you travel a lot or only reside in Thailand during holidays; you would enjoy the help of a property-manager…
What is a property manager, you ask? This person could be a family member or a friend that lives here in Thailand; a dedicated agent or simply the sales-office on-site that is looking after your property when you are not present. It sounds simple, but many people neglect to offer the ‘landlord’s service’ in case of an issue with the tenant…
So, what considerations do we have thus far?
- Always use an agent to choose the right property
- Consider a purchase with a live-in tenant
- Assign a property-manager when you are not in Thailand
EXPECTATIONS
The average ROI (rental yield) in Thailand varies between 6-8% net, which is rather high even worldwide.
If you are calculating your own return; please don’t over-project it as you will need to calculate: general maintenance, an agent’s commission, running costs when the house is not occupied, project management fee etc.
Hopefully you see a positive return that brings you some interesting monthly cash-flow…
Joyfully, this is not everything… you might have forgotten about your capital appreciation (capital gain). Property investment offers a combination of rental income and capital gains. Investing in property is not only going to give us a positive cash flow but also the potential capital gains which depend on the property price increment.
Over the last decade we have seen increases between 50-100%.
If you would add this (as a sleeping bank-account) onto your earnings, you will see that an investment in a (rental) property is really worthwhile of your precious time; this is important as, everyone knows, time is of essence.
And so is money.
EXAMPLES
There are many good properties on the market.
On the housing estate The Meadows (right on top of Soi Nern Plub Wann, near the Suttawas Temple) I have a few great samples…
Firstly this project is located on a popular location. Close to the motorway, taxi-route on walking-distance, local shops and convenient stores around the corner and so on.
Then; the project itself offers manned security, good communal facilities and last but not least: Great properties!
The Meadows is a medium-sized development (46 units) completely built. No more construction and a nice central location, quiet, private; easy access.
On The Meadows I know of a 3-bedroom City Villa with a live-in tenant who is already renting the property for more than 1 year and recently signed-up for another year.
It is a corporate client and it looks like he will live there few more years with his family.
He is paying THB 32,000 per month and the house cost THB 4.25 to purchase as a freehold property.
On the same project I also have a true executive home with private pool and 3 bedrooms. This house is available for THB 8.75 Million and generates THB 88,500 per month on rental income. The tenant is a corporate client with a 1-plus-1-plus-1 year lease on it.
Both not such bad investments…
I could continue into an endless list… That is not the point I think.
The point is: “How do I create a steady cash-flow?”… The answer: “Talk with your real-estate agent and ask for some advice and ideas…”
Many people dream to have a life abroad and many have “made-it” to Thailand…and of course, why not?
Thailand is a beautiful place to live and work…to enjoy your own personal pace of life and many other benefits.
To be able to live your life with not too much financial worries, it is for many people, a safety-net to earn money in the local currency.
Not everyone who visits Thailand work here, thus having to rely on their earnings from abroad; savings they make from work, past incomes from work, investments or pension.
With always the fluctuating currency exchange rates, relying on your previous savings, investment or pension this is not the most reliable way to account for your private financial bookkeeping, here in the Land of Smiles.
Therefore it would be great if you could ‘generate’ a steady ‘domestic income’, or cash-flow, that does not suffer from a highly fluctuating currency market.
"KNOW-HOW's"
In SE-Asia (Thailand in particular) there is a very healthy and prosperous property-rental market.
Especially when we focus on in Pattaya; we quickly come across a few essentials of which, one of them is probably most important: the LOCATION. This is because Pattaya neighbors the biggest seaport of Thailand called Leam Chabang.
Almost worldwide, you will see a strong popularization of cities that are located in the vicinity of the country’s biggest seaport. An almost ‘automatic’ attraction for industrial estates that belong in the genre of (international) warehousing, logistics, assembling- factories etc.
Pattaya also offers an excellent infrastructure connecting Thailand’s metropolis Bangkok…
It is not a surprise that there is a strong (expat) rental market here…
As for the domestic market: a rental home is a suitable answer for those that cannot afford to buy a home and then there are of course the tourists that could be interested in a short-term rental property… (Beware that short-term lets require meticulous caring on the landlord’s part…)
With that in mind, smart moneymakers are getting a chance at a profitable business opportunity. Basically put, they simply invest on a residential property and have it rented by trusted and reliable tenants. It starts off with a clear research on the specific areas where the need for a home is at its highest.
You will find that it is very often the ‘same kind’ of property that most tenants are looking for….
CONSIDERATIONS
Trial and error is rarely the best method if you are serious about turning your investments into income. Many people waste precious time and money learning the tricks of the trade the hard way. It is therefore my advice to always use the services of an experienced real-estate agent. It is not only so that they know the market much better; but they keep nice “stock” in their portfolios including possible bargains and fire-sales; they are familiar with most residential estates including condo developments; but moreover, they are also in direct contact with potential (corporate) tenants!
Having said that, you are ultimately killing 2 birds with 1 stone!
…Did you ever consider that your broker might have properties on the books with ‘live-in’ tenants? You would purchase a property and immediately make an earning out of it!
If this could be combined with an owner’s (or developer’s) finance; you might end-up in a situation whereby your tenant is paying most of your interest, if any… Wow!
Another important consideration reflects on your personal circumstances: If you travel a lot or only reside in Thailand during holidays; you would enjoy the help of a property-manager…
What is a property manager, you ask? This person could be a family member or a friend that lives here in Thailand; a dedicated agent or simply the sales-office on-site that is looking after your property when you are not present. It sounds simple, but many people neglect to offer the ‘landlord’s service’ in case of an issue with the tenant…
So, what considerations do we have thus far?
- Always use an agent to choose the right property
- Consider a purchase with a live-in tenant
- Assign a property-manager when you are not in Thailand
EXPECTATIONS
The average ROI (rental yield) in Thailand varies between 6-8% net, which is rather high even worldwide.
If you are calculating your own return; please don’t over-project it as you will need to calculate: general maintenance, an agent’s commission, running costs when the house is not occupied, project management fee etc.
Hopefully you see a positive return that brings you some interesting monthly cash-flow…
Joyfully, this is not everything… you might have forgotten about your capital appreciation (capital gain). Property investment offers a combination of rental income and capital gains. Investing in property is not only going to give us a positive cash flow but also the potential capital gains which depend on the property price increment.
Over the last decade we have seen increases between 50-100%.
If you would add this (as a sleeping bank-account) onto your earnings, you will see that an investment in a (rental) property is really worthwhile of your precious time; this is important as, everyone knows, time is of essence.
And so is money.
EXAMPLES
There are many good properties on the market.
On the housing estate The Meadows (right on top of Soi Nern Plub Wann, near the Suttawas Temple) I have a few great samples…
Firstly this project is located on a popular location. Close to the motorway, taxi-route on walking-distance, local shops and convenient stores around the corner and so on.
Then; the project itself offers manned security, good communal facilities and last but not least: Great properties!
The Meadows is a medium-sized development (46 units) completely built. No more construction and a nice central location, quiet, private; easy access.
On The Meadows I know of a 3-bedroom City Villa with a live-in tenant who is already renting the property for more than 1 year and recently signed-up for another year.
It is a corporate client and it looks like he will live there few more years with his family.
He is paying THB 32,000 per month and the house cost THB 4.25 to purchase as a freehold property.
On the same project I also have a true executive home with private pool and 3 bedrooms. This house is available for THB 8.75 Million and generates THB 88,500 per month on rental income. The tenant is a corporate client with a 1-plus-1-plus-1 year lease on it.
Both not such bad investments…
I could continue into an endless list… That is not the point I think.
The point is: “How do I create a steady cash-flow?”… The answer: “Talk with your real-estate agent and ask for some advice and ideas…”
Tuesday, July 6, 2010
#01 PATTAYA INTERNATIONAL REAL ESTATE MAGAZINE
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#01 PATTAYA INTERNATIONAL REAL ESTATE MAGAZINE
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