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Top Articles - High Season - High Hopes
By and large the last few months leading up to the start of high season have been indifferent for the real estate professionals in Pattaya. An unsettled government, whiffs of scandal and uncertainties about how the land office will view applications all combined to affect some – not all – areas of the market. So how do real estate agents view the coming of the high season? Do they anticipate and upturn or more of the same? John Davids spoke to half a dozen o
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
f them just days after the season got underway…
Perhaps not surprisingly the coming of the high season is being greeted with a mood of optimism among the agents I spoke to. Pessimism in business is no good whatever your line of work. It couldn’t be more true of the property business.
But is the optimism well founded and based on sound reasoning?
Based on my chats with the six I believe the answer is yes. But I would qualify that by saying that the picture
Perhaps not surprisingly the coming of the high season is being greeted with a mood of optimism among the agents I spoke to. Pessimism in business is no good whatever your line of work. It couldn’t be more true of the property business.
But is the optimism well founded and based on sound reasoning?
Based on my chats with the six I believe the answer is yes. But I would qualify that by saying that the picture
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
is looking brighter in some areas than others.
For example, interest in new condo developments remains high. The opportunity for “own name” ownership while the first 49 per cent of the apartments remain on the market is undiminished. Remember, up to 49 per cent of any condominium block can be owned by foreigners without needing to resort to other, more convoluted ownership routes.
"It's difficult in the second-hand resale market at present," said Heiner M
For example, interest in new condo developments remains high. The opportunity for “own name” ownership while the first 49 per cent of the apartments remain on the market is undiminished. Remember, up to 49 per cent of any condominium block can be owned by foreigners without needing to resort to other, more convoluted ownership routes.
"It's difficult in the second-hand resale market at present," said Heiner M
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
oessing of Siam Properties. “I’m finding that buyers are prepared to spend 20 or 30 percent more on new condominium developments to secure an ‘own-name’ property.”
Heiner says he is definitely noticing an increased interest in new properties. “The tendency is toward newer projects even if they are at higher prices,” he added.
Heiner continued: “Our website is bringing in a lot of enquiries, but we are well established and known within the market. We see ou
Heiner says he is definitely noticing an increased interest in new properties. “The tendency is toward newer projects even if they are at higher prices,” he added.
Heiner continued: “Our website is bringing in a lot of enquiries, but we are well established and known within the market. We see ou
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
r success as a combination of experience and knowledge of the Pattaya property market, a perceptive understanding of our customers’ requirements and above all … integrity.”
“We had a sleepy October but you get a couple of months like that each year. Now things are looking quite nice and I believe interest will go up over the next few months,” Heiner concluded.
Heiner’s thoughts on the prospects for the high season are shared by Julian Stanley of Pattaya Dr
“We had a sleepy October but you get a couple of months like that each year. Now things are looking quite nice and I believe interest will go up over the next few months,” Heiner concluded.
Heiner’s thoughts on the prospects for the high season are shared by Julian Stanley of Pattaya Dr
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
eam Homes. “I’m absolutely, positively optimistic about the high season,” said Julian who can point to the statistics of ‘hits’ on his web site as the reason for this.
Hits on the site for condo searches were a little under the 2,000 mark on the day I spoke to him. “I would say that about 80 per cent of the enquiries I’m getting, web hits, emails or telephone calls are to do with condos,” he said.
“We have many potential foreign buyers arriving here over t
Hits on the site for condo searches were a little under the 2,000 mark on the day I spoke to him. “I would say that about 80 per cent of the enquiries I’m getting, web hits, emails or telephone calls are to do with condos,” he said.
“We have many potential foreign buyers arriving here over t
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
he next three-four months. I don’t know if this is a natural upturn based on the season or not.” Julian’s company only started in January this year so he has
not previously experienced the low to high season transition. “I’m optimistic, but I’m not ordering the Mercedes just yet,” he joked.
On a more serious note, what did he think of other areas of the market? “The market in stand-alone houses is stagnant at present. Major developers have stopped pre-buil
On a more serious note, what did he think of other areas of the market? “The market in stand-alone houses is stagnant at present. Major developers have stopped pre-buil
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
ding and are just trying to sell from plans which doesn’t make our job easy. Much better for us are developments like The Meadows from Town & Country where they have built many of the units. That’s the class way to go in my book. People can see what they are buying.”
Stuart Daly of Pattaya Realty was also noticing a lot of web-based interest with “serious buyers telling me they are coming over,” he said.
“After the year we have had with no stable governmen
Stuart Daly of Pattaya Realty was also noticing a lot of web-based interest with “serious buyers telling me they are coming over,” he said.
“After the year we have had with no stable governmen
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
t and hints of scandal I’m glad we are through that and can look forward with confidence,” he added. “Things are looking up and I’ve been speaking to Bangkok-based agents who are also hopeful.”
Any trends emerging? “New developments are hot but I don’t see any special trend as such. Condos are doing a bit more for the own-name aspect. But we are still selling houses. I’ve noticed more buyers putting the property in their Thai partner’s name but protecting t
Any trends emerging? “New developments are hot but I don’t see any special trend as such. Condos are doing a bit more for the own-name aspect. But we are still selling houses. I’ve noticed more buyers putting the property in their Thai partner’s name but protecting t
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
hemselves by taking out 30 year leases and signing agreements that ensure that the house cannot be sold without the agreement of both parties.”
When I heard this I winced a little. But, after putting down the phone, I reflected that if that was the only way I could own a house (my preference), as opposed to a condo, how bad would that be? I’m in my 50s and were someone to offer me a guarantee of living another 30 years I would bite their hand off in accepta
When I heard this I winced a little. But, after putting down the phone, I reflected that if that was the only way I could own a house (my preference), as opposed to a condo, how bad would that be? I’m in my 50s and were someone to offer me a guarantee of living another 30 years I would bite their hand off in accepta
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ce. If my current partner could stay with me for 30 years (and previous convictions in the matrimony department make that a big ‘if’) I reckon she would probably deserve to have the house when I’m gone.
But each to his own and I am not trying to influence prospective buyers by saying the above. The opportunity to buy in my own name would remain my first, second and third choice.
Another agent who reported a shift in attitudes on the ‘own-name’ front is Ein
But each to his own and I am not trying to influence prospective buyers by saying the above. The opportunity to buy in my own name would remain my first, second and third choice.
Another agent who reported a shift in attitudes on the ‘own-name’ front is Ein
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ar Olgeirsson of Pattaya General Real Estate. “With houses some buyers are looking at the perpetual lease route,” said Einar. “It’s like signing a prenuptual. And there are still other options people can be looking at if they want a house.”
He added: “We have done all right considering the problems we’ve had lately. Of course, things would be a lot better if foreigners could buy as they did before. There are still a lot of things that need sorting out, but
He added: “We have done all right considering the problems we’ve had lately. Of course, things would be a lot better if foreigners could buy as they did before. There are still a lot of things that need sorting out, but
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
I’m pretty optimistic.
“People are buying at the cheaper end, such as townhouses. That way the commitment is not high and it allows them to get a foothold in the property market. If they settle to the Thai way of life then they can upgrade later. If not, the property is still affordable for other purchasers, including Thai people. I believe this to be a sensible approach in these uncertain times.
“We have people booked to come here in November, December an
“People are buying at the cheaper end, such as townhouses. That way the commitment is not high and it allows them to get a foothold in the property market. If they settle to the Thai way of life then they can upgrade later. If not, the property is still affordable for other purchasers, including Thai people. I believe this to be a sensible approach in these uncertain times.
“We have people booked to come here in November, December an
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
d January and we’re getting a lot of emails, particularly regarding new constructions that have availability within the first 49% own-name category.”
When I spoke to Craig Rhodes of Country Properties he, too, was in a positive mood. “I’m okay, feeling pretty good at the moment,” he said. “Apartment sales are good and people still want to be here. That’s the main thing.
“We started out in land brokerage but have pretty much switched our emphasis to apartme
When I spoke to Craig Rhodes of Country Properties he, too, was in a positive mood. “I’m okay, feeling pretty good at the moment,” he said. “Apartment sales are good and people still want to be here. That’s the main thing.
“We started out in land brokerage but have pretty much switched our emphasis to apartme
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
nts now. With land it’s difficult at present. We’ve sold a couple of plots lately. If someone comes to us wanting to buy land we tell them we can do it but we don’t know what the land office will say when they get there. We’re not hiding anything and we are strongly recommending that buyers take a third party opinion, from a lawyer, perhaps, before they go too far down the line.”
He concluded: “You have to get on with things and make the best of what’s goin
He concluded: “You have to get on with things and make the best of what’s goin
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
g on. I’m encouraged by our apartment sales.”
Claus Dieter Meyer of Thaiproperties.biz said: “Low season is low season, like every year. Now we are getting more enquiries and I’m optimistic. I’m sure the high season will see an improvement especially in January and February.”
Claus’s company is also focussing more on condos. “I think people are looking a little concerned about the restrictive regulations at the land office. So they are looking a little mor
Claus Dieter Meyer of Thaiproperties.biz said: “Low season is low season, like every year. Now we are getting more enquiries and I’m optimistic. I’m sure the high season will see an improvement especially in January and February.”
Claus’s company is also focussing more on condos. “I think people are looking a little concerned about the restrictive regulations at the land office. So they are looking a little mor
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
e to condos, especially projects where you can still own in you own name.”
He concluded: “If there was to be a change in the law everyone would be happy.”
So, as you can see – a recurring theme in most of my conversations is the question of own-name ownership and a possible change in the law. How can this be addressed? Well Pattaya has more bizarre rumours circulating than I care to try to count. Indeed, with the editor’s permission, I might regale you wit
He concluded: “If there was to be a change in the law everyone would be happy.”
So, as you can see – a recurring theme in most of my conversations is the question of own-name ownership and a possible change in the law. How can this be addressed? Well Pattaya has more bizarre rumours circulating than I care to try to count. Indeed, with the editor’s permission, I might regale you wit
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
h six or seven in a future issue. But for now, I’ll concentrate on one – namely the possibility that a Thai government might one day relent and widen the criteria which allows foreigners to own a rai of land for their own housing purposes. At present you need to have received an inheritance or have a seriously large amount of money to invest here – baht 40 million.
This ‘one rai’ rumour was repeated to me a couple of times during my ring-around and is a sur
This ‘one rai’ rumour was repeated to me a couple of times during my ring-around and is a sur
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
e indication of where agents would like to see things headed. I don’t know all the ins and outs of this debate but it seems to me incongruous for Thailand to want outsiders to invest in the country but then make it difficult for all but the very rich to live here.
Of course, a balance must be struck which means that prices will not become prohibitive for Thais themselves. We don’t want a situation such as the one that developed on the Isle of Man in the Iri
Of course, a balance must be struck which means that prices will not become prohibitive for Thais themselves. We don’t want a situation such as the one that developed on the Isle of Man in the Iri
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
sh Sea. Because the island is a tax haven many monied people want to live there. House prices have rocketed to such an extent that the Manx people themselves cannot afford to buy on their own island.
There does not appear to be a ‘magic wand’ that can be waved over the ownership question to satisfy all parties … but a solution needs to be found. And the sooner the better or it maybe it will take more than a change in the season to improve the housing market
There does not appear to be a ‘magic wand’ that can be waved over the ownership question to satisfy all parties … but a solution needs to be found. And the sooner the better or it maybe it will take more than a change in the season to improve the housing market
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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