REM Thailand - June 2012 - Issue 133 by Pattaya Property Consultants

REALESTATE e n i z a g a m pattaya

Where Thailand rates on Pineapple Index

Zen Condos:

A new chapter in tranquil living Issue 133 • June 2012

เรียล เอสเตท แม๊กกาซีน ไทยแลนด์

who’swho

Managing Director Dave Buckley Tel: 087 988 0799 dave@thailandpropertymagazine.com Publisher/Editor Mesiya Watson may@realestatemagazinethailand.com Sales and Marketing Wongduan Roberts Tel: 087 535 8096 duan@thailandpropertymagazine.com or realestatemag@hotmail.com or dave@thailandpropertymagazine.com Office/Accounts Tel: 038 406519 or 08 6335 2474 dear@thailandpropertymagazine.com Web address www.realestatemagazinethailand.com Artwork, Design & Layout Zen Grafix • Tel: 038 406519 Publisher Pattaya Property Consultants Co Ltd 21/27 M5 Soi Nern Plub Waan Nongprue • Banglamung Chonburi 20150 Tel: 038 406519 or 08 6335 2474 Fax: 038 041158

Our team

Since 2001 – Thailand’s first English language property magazine

Sign of the times? It seems that my article on the theme of Grumpy Old Men hit a nerve or two a few issues back as several people have mentioned it to me since in a “I feel the same as you” vein. So I thought I would steam in while I’m on a winner and have a bit of a sideswipe at the paperwork mountain that seems to accompany just about every aspect of life here.

Dave Buckley looks at the paperwork proliferation that can make life a misery

A few days back I was called upon to sign all the financial papers relating to last year’s financial results for the company that owns this magazine. It only totalled about 150 sheets! Maybe I got off lightly. But just look at my signature at the foot of the page. It’s not exactly a squiggle is it? Oh how I regret not coming up with something short and totally indecipherable when I was a lad. A simple DB perhaps ... it would save me a lot of messing about and a little cramp now. But the point I’m trying to raise is, of course, is it all really necessary? As it is virtually every document, with the exception of the company minutes, was in Thai in this

financial statement. I could have been applying for a dog licence for all I know. At is it really necessary to re-sign sheets of paper that already have my signature on it? Who is playing games with who here? I can’t recall the number of times I have re-signed a copy of the page in my passport that already has my signature on it. My accountant could sense my growing hysteria as I worked my way passed the 100th page. “Soon this is all going on-line,” she said. “Really,” I replied, “is that going to create more work or less?”

Publication Licence Number 2/2549 Disclaimer: All rights reserved. No part of this magazine may be reproduced without the written consent of the editor. The publishers are not responsible for any error contained within the magazine. The publishers also accept no liability for the accuracy of statements made by the advertisers or writers. The views of correspondents are not necessarily those of the magazine. Articles are produced containing upto-date information to the best of our knowledge. However, we accept no liability for information contained within any article. Copyright © Real Estate MAGAZINE Thailand 2012

3•REm•Issue 133•06/2012

“Oh less,” she replied, “eventually!” Somehow I didn’t find the eventually bit too reassuring. I thought about asking if that would lead to job losses among government employees – eventually. But some questions are best left unasked. However if “going on-line” means the company’s financial reports do not have to be signed in triplicate to allow various government bodies to each have a copy, then I’m all for it. But, somehow I have this nagging feeling that this will only open another can of worms. I can imagine the conversation now. Accountant: “I submitted all the figures on-line last Friday.” Faceless government official: “Well, they are not showing up on my computer. Please send them again. Oh and now the figures are late so your client will have to pay a fine for late submission.” Am I hitting a few raw nerves again? Or am I just guilty once more of being a cynical and grumpy old man?

Welcome to

City Garden Pattaya

STARTS FROM

45,000/ SQM

THE BEST OFFER IN THE CITY!

Don’t miss this great opportunity

www.citygardenpattaya.com

- Ready to move in now - Units for sale and for rent - Foreign ownership available -

Soi 15 Pattaya Second Road 038-416-690 • 082-716-1395

OURadvertisers

AAAA Properties 56 A.D Condominium 24 Alan Bolton Property Consultants 96 Amari Residences Pattaya (Nova) 63 Amazon Residence (Matrix) 61 Anaakot Group 64 Art on the Hill (Matrix) 58 Atlantis Condo Resort Pattaya (Blue Sky) 35 Benchmark Asia Property 32 Black & White Properties 29 Big Mango Properties 22-23 CARS Pattaya (map sponsors – Tulip) Inside back cover Centara Grand Residence (Tulip) Inside back cover City Center Residence (Matrix) 57, back cover, Living supp 2 City Garden 3 Coastal Real Estate 26 Colliers International 65-72 C-View (Heights Holdings) 47,51, 55 East Coast Real Estate 41 Elegance Condominium @ Cosy Beach 27 Euro Design Furniture Living supplement 13 FARANG Services 4-5 Foodland 95 Global Property (Global Solidor) 91 Golden Homes Real Estate 10-11 Grande Caribbean Condo Resort Pattaya (Blue Sky) 43 Green Field Villas 4 16 Heights Holdings Inside front cover, 1 InfraredGuard 90 Laguna Beach Resort (Heights Holdings) 49, 53 Lion Bar, The Living supplement 27 Matrix Group 62 Meridiem Park Condominium (Domum) 73, 78 Mövenpick Resort Between 24-25 Movers & Shakers (Bangkok) Living supplement 19 Nam Talay (Nova) 37 Neo Condo 21 Novana Residence (Nova) 93 One Stop Real Estate 25 Palm, The (Nova) 33 Paradise Ocean View (Global Tower) 17 Pattaya Exclusive Properties 28 Pattaya Realty 14 Porch Land (The Feelture, La Santir) Between 40-41 REBA-ES (Real Estate Broker Association) 84-85 Rightmove Pattaya 30-31 Sunset Boulevard (Matrix) 60 Talay Real Estate 38-39 Town & Country Property 8-9 Tropical Dream 18-19 Tulip Group 87 View, The (Matrix) 59 Waterfront Suites & Residences (Tulip) 80, Living supp 2, 40 Unixx South Pattaya (Raimon Land) 15 Zen in the Park Cover, between 56 and 57 5•REm•Issue 133•06/2012

OURCONTENTS

cover story

pattaya

Zen can meditate on sales success

living (

SEPARATE SUPPLEMENT

)

Cover STORY: One of the world’s leading violinists is happy to be going downhill – and she’s doing it all in the hope of representing

Thailand in the Winter Olympics in 2014. Work is due to start early next month on the infrastructure for the Zen Condominiums development in Jomtien. Early buyers will have the chance to win a C-180 MercedesBenz Avantgarde in a draw that will take place when the EIA licence is issued.

10: how green can you be? This month’s Insider Report changes tack and looks at how developers can be kind to the environment by thinking Green.

42 48

Pirate ships and a lighthouse are among the features at the new Grande Caribbean project.

Regular columnist Bart Walters rates how Thailand fares in his own Pineapple Index.

7•REm•Issue 133•06/2012

Hot on the heels of their fast selling

15: rock ‘n’ rollers – we examine the

first project Domum Holding have

enduring appeal of Rolls-Royce cars and look at

launched Meridiem Park.

some of the big names who have owned one.

NEWSREPORT

CGR offers chance to swim among sharks – in safety!

Imagine swimming alongside a tiger shark while staying in Pattaya. A terrifying thought? Think again The Centara Grand Residence (CGR) at Na-Jomtien has unveiled a new landscaping design that will incorporate a water park, wave pool and lazy river that includes a swimthrough, massive glass shark tank. The tank will also include a viewing platform for non-swimming spectators.

A tropical canopy-walk style landscaping will surround the three tower project and will be undertaken by the same team responsible for the successful Centara Grand Mirage hotel and resort in north Pattaya. The mixed-use CGR will feature 315 residential units and a 200-room hotel managed by Centara Hotels & Resorts. CGR was originally designed by renowned architect Hans Brouwer of

HB Design and is now being overseen by leading Thai architect Songsak Visudharomn. Thai and foreign buyers have been quick to invest and 60 per cent of the first tower is sold with a sales value of Bt1.4bn. The second tower was officially launched last month at the Siam Paragon Luxury Property Expo where sales totalling Bt65m were achieved.

Piling started at the Waterfront Work has officially started on the Bt2bn Waterfront Suites and Residences next to Bali Hai Pier. The project will be managed by the London-based Park Plaza Europe hotel chain and is being developed by the Pattaya-based Tulip Group. Tulip Group CEO, Kobi Elbaz, says the Waterfront’s piling team, Times Enterprise, has been specially brought in from Malaysia to ensure the project commences on time and to quell rumours that the building is delayed. “We believed it was better to look outside Thailand for a first-class piling company and to get started now rather than wait for another company to become available here,” Mr Elbaz said. “It’s important for investors to see we stand by our commitments.”

realestate e magazin

in brief • Last month saw the grand opening of The Trust Residence in Soi Paniad Chang (the one that links Big C in Pattaya Central, formerly Carrefour, with the North Pattaya Road). With prices starting at less that Bt1m and easy payment terms available this Q-House development under the Casa Villa brand is likely to attract many Bangkokbased buyers. It lies very close to where the motorway links onto the Sukhumvit Road making access from the capital comparatively straightforward. • This past month has seen the launch of two new brokerages. Pattaya Exclusive Properties in North Pattaya. Its principals are former Big Mango staff members. The other newcomer is the Black & White brokerage which is based in offices in The Village shopping centre. They are planning a series of networking events to introduce themselves.

For the well read ... 06/2012•Issue 133•REm•8

COVERFEATURE

EN Condominiums, one of the newest developments launched in Jomtien is ready to start work on the project infrastructure. Early next month the first teams of workers are due to be in place and this exciting new enterprise will be on its way. ZEN lies just 650 metres from the beach not far from the new Jomtien Second Road. A spokesman for the developers said: “The warm reception the market has given indicates ZEN Condominiums will be a great success. “In the short time since sales started, more than 200 units have found buyers eager to benefit from the attractive launch prices.” Those prices start from Bt899,000 for a 27 sqm studio; well designed 37.5 sqm, onebedroom units range in price from Bt1.55m-1.95m; and the spacious 75 sqm two-bedroom units range from Bt3.1m-3.9m. The prices are the same for Thai and Foreign ownership. For those figures buyers get fully finished and fully furnished condos of very modern design, that blend the comfort and practicality of carefully thought through spaces within a peaceful and relaxing environment thanks to the landscaping of the project. Payment terms are also convenient for buyers, with small

13•REm•Issue 133•06/2012

ZEN meditate on widespread sales success deposits and comfortable monthly payments, with most of the price to be paid on completion. Prices will increase soon, so interested buyers have only a few weeks left to visit the show units and make their reservations at the lowest prices. Early buyers will also enjoy the chance to win a luxurious C-180 Mercedes-Benz Avantgarde in a draw that will take place when the EIA licence is issued. Processing for the EIA is already well advanced. It is expected that the majority of units in the project will still be unsold at that time, which increases the chances of each of the early buyers. Easy to sell The spokesman for the developers added: “Many real estate agents in the city and beyond are keenly promoting the project as it gives them the opportunity to offer a best value for money, easy-to-sell product to their customers. “The ZEN marketing network has agents in several countries, in Bangkok and we also work

closely with the best local real estate agents. These agents are a very important part of the success of the sales of the project and they are receiving strong support from the developer.” Agents buy for themselves Indeed, many of those agents are buying units for themselves. Some as an investment, but others have indicated that they will be living there. The fact that property professionals with deep knowledge of the market are choosing to buy in ZEN, is a clear indicator of the project’s attraction and value for money. Buyers are almost equally split between those who reside in Thailand – local and Bangkok residents – and those who live abroad. The spokesman said: “For foreign buyers ZEN represents an attractive investment that will offer a good rental income or it suits those just looking for a luxurious, but affordable, holiday residence. “With a 2,000 sqm lagoon style swimming pool and roof gardens on every building, the

project will offer residents a special opportunity to enjoy life outdoors in a natural environment that can’t be found anywhere else in the heart of Jomtien.” The project appeals to people from all over. Currently there are buyers from almost 20 different nationalities, with a “relatively surprising high number of customers coming from other Asian countries,” according to the spokesman. “Those Asian buyers seem to particularly appreciate not only the quality and design of the units and the project, but also the privacy and quietness of its location in a convenient area. “A lot of the visitors who have been coming on holiday to Jomtien regularly and seen its evolution, have decided to buy and spend longer periods enjoying all Pattaya has to offer.” Launch prices The spokesman adds: “It is also a sound investment, specially when, as it is the case with ZEN at the moment, investors can buy at launch prices and benefit from the natural process of price increases between now and the completion of the project. “Some buyers have been taking two units with the intention of keeping one for themselves and sell the second one when it is finished, which

will reduce even more the real price of their property.” When the international investment group financing and developing the project chose to go ahead with ZEN Condominiums, they had been studying many different options and they had

even been strongly considering other parts of Thailand, but ZEN’s location and its natural peaceful environment made their decision clear. The fact that Pattaya and especially Jomtien are seeing growing numbers of Thai Bangkok residents buying properties was

also viewed as an important factor. Several big companies, including Bangkok Bank and K-Bank, are offering special packages to their employees who wish to buy in the project. Both banks will also offer financing to Thai buyers with convenient terms.

If you wish to discover more show units can be visited daily from 9am-5pm (weekdays); 11am5pm (weekends). T: 038 118 432 (Eng); 038 118 433 (Thai); 038 118 434 (Rus). E: sales@zencondominiums.com W: www.zencondominiums.com. Ω

06/2012•Issue 133•REm•14

Best Condo Development (Eastern Seaboard)

Just a few units remain!

Ready to Move In Soon!

Tropical Dream Condominium We speak English, Russian, French, Italian and Thai Office (Thai, Eng): + 66 (0) 82 202 0880 Cell (Eng, Ru, Fr, It): +66 (0) 86 260 1222 Showroom: Pratumnak Road, Soi 6 Project: Pratumnak Road, Soi 3 http://www.tropicaldreampattaya.com email: info@tropicaldreampattaya.com

newsREPORT

Nova signs deals with Lock-BUILD Group ... for the palm in wong-amat

Popular man on the local property scene – Danny Van Harten.

Building work on beachfront twin highrise The Palm at Wong-Amat is due to start this month once on-site piling has been completed. The developers pictured have signed up leading Bangkok-based construction company – Lock-BUILD Group – to carry out the work. The contract is valued at Bt1.3bn and Lock-Build will be providing a

‘turnkey’ package for the Palm’s 46- and 26-storey towers. Developer Winston Gale said: “We are delighted to make this appointment. LockBUILD Group have many well known projects accredited to them and we are confident they will do an excellent job on The Palm.” The Palm is 80 per cent sold since its launch in December 2010.

From left: Palm developers Winston Gale and Rony Fineman with Nuttapong Intuputi and Vutikorn Kamolchote from Lock-BUILD.

and for the amari residences pattaya on pratumnak hill

Nova Group held a contract signing ceremony on May 14 appointing LockBuild to be the construction company for the Amari Residence Pattaya project being developed on approximately two Rai on Pratumnak Hill. Piling has started and Amari Residences is scheduled to be completed by the last quarter of 2014. It will consist 21•REm•Issue 133•06/2012

of a 35-storey building with 278 units, and will managed by Amari. To date 70 per cent of the units have been sold. Nova MD Rony Fineman said: “I have seen many of Lock-BUILD’s completed projects. They build with passion, speed and attention to detail, I am sure that Amari Residences will be a building we can all be very proud of.”

A similar line-up to the one seen in the picture at the top of the page with the exception of project partner Kobi Elbaz pictured left.

Danny Van Harten to take on new challenge Danny Van Harten left his role as vice-president of a prominent local developer at the end of April. He enjoyed tremendous success with the company and helped transform it into one of the largest developers of condominiums in the city. But now he has taken the decision to leave his position and undertake a new challenge. Not an easy decision In a short statement Danny said: “This is a personal decision which has not been easy to make. I believe I have taken the business as far as I can and I leave the company in a position of strength.” He added: “My departure from the firm is on amicable terms and with the full blessing of senior management there. “I will update everyone very soon on my future plans, which I am very excited by. “I would like to thank everyone for their continued support during this time which has been very touching and much appreciated.”

Resale Values in New Projects - Call If You Don't Find What You Want - We Can Only Fit So Much on 1 Page Project

Floor Quota

Size

Type

Resale Price

Why It's a Good Deal?

AD Hyatt

Foreign

72.0

1 bed

3,870,000

20% below market. 1 & 2 BR seaview units in Wongamat in demand. Good investment.

Amazon 1

4&5

Thai

35.0

1 bed

1,250,000

4 "River view" units at this price. Lowest available price from developer is 1.49 Million.

Cetus

Several

Foreign

39.0

1 bed

From 3,763,500

Lowest developer price for this unit type is 4.2 Million. Save 11% and more.

Cetus

Several

Foreign

54.5

1 bed

From 5,259,250

Lowest developer price for this unit type is 4.2 Million. Save just under 1 Million baht!!

Cliff Residence

Foreign

46.5

1 bed

3,800,000

Price has just been reduced by 350K for quick sale. Highest floor seaview 1 BR available.

Gallery Jomtien

Foreign

36.0

1 bed

2,501,820

Corner unit. Project sold out long ago. Ready to move in August, 2012. Several available.

Laguna Beach 2

Foreign

25.0

studio

1,299,000

We have several available at this price. No foreign quota from developer remaining.

Laguna Beach Resort Jomtien

All

Thai

25.0

studio

From 899,000

Laguna Beach Resort Jomtien

All

Thai

37.0

1 bed

From 1,099,000

We have over 20 pool view 1 bed room units to choose from. None remain from developer.

Palm Wongamat

All

Foreign

32-33

studio

From 2,968,838

You can't buy studios from The Palm. We have the widest selection available.

Park Royal 3

Foreign

45.0

1 bed

2,490,000

Developer has only 1st floor units remainging, and those are selling for 2.6 Million.

Peak Towers

All

Thai

30.0

studio

From 1,490,000

tudios in Peak Towers all sold out long ago.

Reflections Jomtien

Many

Foreign

60.0

From 5,808,000

Lowest developer price for this unit type is 7.2 Million; save 1.4 Million THB or more.

Reflections Jomtien

Many

Foreign

110.0

From 11,330,000

Lowest developer price for this unit type is 12.64 Million; save 1.1 Million THB or more.

Reflections Jomtien

Many

Foreign

205.0

From 25,830,000

Lowest developer price for this unit type is 29.5 Million; save 3.7 Million THB or more.

We have 8 units at 899K, and many others at different pricing depending on positioning.

Property Investors - please contact us if you have any resale contracts you wish to sell. We prefer Foreign quota in projects at or nearing completion.

Call Michael at 089-685-2198

or e-mail michael@bigmangoproperties.com

www.bigmangoproperties.com

Garden Cliff

Ocean Lane Villas

Wongamat Prestige! 120 sqm. 2 Bed, 2 Bath Full Renovation Amazing Quality

Beachfront Tennis Court Euro Kitchen Quiet Location

16,500,000 BAHT

Wongamat

Na Jomtien Opulence 188 sqm. 3 Bed, 3 Bath Fully Furnished Euro Kitchen

300m to Beach Private Pool 15 Min. to Pattaya Indulge Yourself!

10,500,000 BAHT

South Beach

270 Degree Views! 72 sqm. 1 Bed, 2 Bath Large Balcony New Development

Pool Fitness Parking Below 700m to Beach

4,850,000 BAHT

Beachfront Wongamat 136 sqm. 3 Bed, 2 Bath Corner Unit Mid Floor

Amazing Views Tennis Courts Swimming Pools 5 Star Quality

22,500,000 BAHT

Sunset Boulevard

Available Now! Studios 15,000/m 1 Bed 20,000/m 2 Bed 25,000/m Pratumnak Hill

Northpoint

Quality Furnishings Euro Kitchen Rooftop Pool 24hr Security

FROM 15,000 BAHT/MONTH

Prestige Development From 2,290,000 Pratumnak Hill Fully Furnished Studios & 1 Bed

Euro Kitchen Rooftop Pool Fitness 24hr Security

FROM 2,290,000 BAHT

Call us to list your quality property for SALE OR RENT. New resale units BELOW DEVELOPERS COST. Many RENTALS available. Investors, call about GUARANTEED RENTAL RETURN properties.

At Rightmove Pattaya we like to keep the maths simple l The RIGHT advice l The RIGHT property l In the RIGHT location l At the RIGHT price l On the RIGHT terms – That’s RIGHTMOVE!



Don’t listen to the hype and numerous offers being bandied about. Come to Rightmove Pattaya for INDEPENDENT and IMPARTIAL advice which will ultimately lead to the BEST PRICES for you!

at rightmove we know the local market and will give independent advice. we know a happy client is more likely to consult us again when they want to rent or resell a property. we seek lasting relationships with developers and clients – not one-off, quick fixes. consult us for all your property needs and be happy that you have made the rightmove.

369/1 Moo 9 Units 8 & 9 PS Bowl (TOPS Supermarket) Pattaya 2nd Road Central Pattaya

Rightmove Pattaya is a member of the REBA (Real Estate Broker Association) Thailand, REBA-ES (Real Estate Broker Association - Eastern Seaboard) and is a graduate of the Real Estate Training School (Thailand)

Deals of the Month!

l From 1,390,000 Baht l Central Pattaya l Fully Furnished l Foreign ownership

l 7,900,000 Baht l Fully furnished l 2 bed, 2 bath l 164 m² of living area

l Lagoon Swimming Pool l City Center Residence

l Foreign owned l Jomtien l CS2151

l 3,650,000 Baht l 80m² of living area l Spectacular sea views l Pratumnak l 1 bed , 1 bath l CS 2145 l Foreign owned

l 7,700,000 Baht l North Pattaya l Foreign ownership

l 7,900,000 Baht l Jomtien l Secure development l 2 bed, 2 bath

l 8,800,000 Baht l 3 bed, 5 bath l East Pattaya l Fully Furnished

l 121m² of living area l 210m² of land l HS 1067

l 117.5m² Penthouse l 2 bed, 2 bath l CS2161

l 300m² of living space l 524m² of land l HS 1398

CHECK OUT THE BEST PRICES!

Escape to paradise with Benchmark Certified Residential Specialist

unique and beautiful penthouse in pratumnak In Pratumnak with big spa pool and a large balcony of 258 sqm that overlooks the ocean. Beautiful decoration and tastefully furnished throughout. Comes with a fully equipped sauna and a comfortable outdoor sala to relax and enjoy the sweeping sea views. This condo is a must see before you buy a unit in Pratumnak in this price range. 516 sqm 6 bedroom • 4 bathroom Bt24.9m

Open house 16 June – you are welcome to inspect.

Stunning home with penthouse Approx 500 sqm or more on three levels. New renovation which took nine months to complete. Spectacular views to the sea. Fully furnished with top quality fittings, tropical gardens, private Open house 23 June welcome to inspect. pool, large balconies, four bedrooms with marble en suites in each. An amazing home that with suit the discerning buyer looking for something special. Ideal for entertaining. + 500 sqm interior 4 bedroom • 5 bathroom Price for sale Bt28.5m

chateau dale complex Lying on 400 sqm of land this Thai Bali style home has three bedrooms, three bathrooms a private pool, tropical gardens and is fully furnished so nothing to spend. It is a new renovation and security cameras have been installed. Bt14.9m

Benchmark Asia Property Co., Ltd Office: 315/309 Thepprasit Road (Opposite Thepprasit Soi 17), Moo 12, Nongprue, Banglamung, Chonburi 20150, Thailand Office Hours: 9.00am - 5.30pm Monday to Friday • 9.00am - 4.00pm on Saturday *We are located in the new shop houses opposite SK Honey products. E-mail: info@benchmarkthailand.com E-mail: gareth@benchmarkthailand.com E-mail : internationalsales@benchmarkthailand.com

Hotline: +(66) 081-7929486 Tel: +(66) 038-304-133 Fax: +(66) 038-304-146

MYSTERYcolumnist

This month our insider revisits the vexed subject of deposits and explains how misunderstandings can arise for both the owner and the tenant. Applying common sense and fairness are essential, but not everyone sees things from the same angle.

Deposits: Fairness is a balancing act By undercover AGENT

his month I would like to expand on an issue I have touched upon before – namely the question of deposits and what they are about, both from an owner’s and a tenant’s viewpoint. Some folk don’t much care for the idea of paying deposits and, let’s be honest, on the other side of the coin some owners (by no means all) don’t like returning them. As agents we can see both points of view in the deposits debate and, essentially, we believe deposits should give a sense of security to both camps. Paying and receiving a deposit means that both tenant and owner have a vested interest in seeing the contract through. The level and the amount of the deposit is something that can be, and often is, debated. The fact is my agency is now doing more and more short-term rentals, so I would ask the question, are these deposits significantly different compared to leaving your credit card details as a form of security at a hotel? In the past couple of months I have experienced problems with owners, tenants and prospective tenants in relation to deposits. Form of security It needs to be understood that deposits are a form of security. If you are a prospective tenant looking to secure a house on condo for a rental, it seems reasonable you should guarantee your booking with some form on monetary contribution. After all, this guarantees you the 35•REm•Issue 133•06/2012

booking and you can feel confident and relaxed that you have a place to stay when you arrive here. From the owner’s point of view, he or she has some sort of security and they can confidently turn away other bookings and prepare the house or condo for your stay. Deposits are either held by the agent or are passed directly to the owner, dependent on circumstances. Fair return This money should be returned to the tenant when the contract is fulfilled. Fulfilled is the key word. Generally, if the tenant moves out before the end of the contract, some or all of the deposit will be withheld. That said, if there are extenuating circumstances prompting the move, many owners will take this into account when determining what is fair to hand back. From your deposit you can reasonably expect to pay for any damage, outstanding bills, the cleaning and laundry plus any breaches of contract. We do not feel, however, is it fair that the tenant should pay for any reasonable wear and tear that would occur regardless of who was living in the property. This brings me onto the stories of my recent dealings. My first anecdote relates to a young man who was looking to rent a condo in Central Pattaya. When he came to our office he had a very definite budget and property in mind and we had something that fitted his requirements to the letter. We viewed the property and 

MYSTERYcolumnist

‘‘

 the prospective tenant agreed that he would rent for one year. The following morning, the tenant decided that he wanted to change what had previously been agreed – much to the frustration of both the owner and myself. With some reluctance, the new deal was struck and a securing deposit was taken and the contracts were prepared. The following day the tenant contacted me again saying that he had continued looking at other properties that afternoon and had found something else. We had to calmly explain that if he was unsure about the property he should not have paid a deposit as the property had been withdrawn from the market and the room had been professionally cleaned in anticipation of the customer moving in. Luckily a new tenant was found almost immediately and the owner graciously agreed to give the customer the vast majority of his deposit back – although he was not obliged to do this. On another occasion we had a customer terminate his contract early after a misunderstanding with the owner. The month prior he had signed an extension to the initial contract but there had been an error over the payments.

Move out early After a few days of discussions it was decided that as neither party were prepared to accept any liability and the best solution was that the tenant move out early. As a compromise had not been reached the owner agreed to give the deposit back. However, when it came to the tenant moving out there were a number of issues with the house. The most obvious was that the tenant had had a pet dog in the house – something expressly forbidden in the contract. Secondly, the dog had caused damage in the house and had chewed at various pieces of furniture. There were also a number of items missing from the inventory. These needed to be replaced or repaired along with a thorough clean of the house. Amazingly the tenant didn’t think that this was his responsibility! 37•REm•Issue 133•06/2012

The tenant had had a

pet dog in

the house – something expressly forbidden in the contract. The dog had caused damage in the house and had chewed at various pieces of furniture. There were also a number of items missing from the

’’ inventory.

He argued that the prices for correcting the problems were too high; things weren’t mentioned in the contract and so on and so forth. I pointed out that if he wanted to do everything “as per contract” he should be aware that he wasn’t actually entitled to get his deposit back. At this point he decided to reconsider! I was amazed at the poor condition he left the house which he thought was in a “reasonable state”. He didn’t see fit to even clean the house thoroughly before his departure. This is why we always stress to tenants that they should do all they can to leave the property in the best condition possible because this will be looked upon favourably by the owner. Another problem we often encounter is with owners who actually see damage to the property as a bonus. I know that this may sound strange, but some owners charge vast premiums when getting things repaired or replaced. They see this as a cheap way to improve their property perhaps buying additional items or, indeed, carrying out general maintenance on the property. Wherever possible we try to insist owners provide receipts to the outgoing tenants as proof of why some of the deposit has been retained. I also believe that the tenant should also expect to pay a reasonable service fee for the inconvenience caused. We always recommend that a full inventory is done at the start and

end of the rental and agreed upon by both parties to keep arguments in such scenarios to a minimum. Tenants are often concerned by clauses in contracts stating they will get their deposit back within a certain period. They question why they are not guaranteed to get it back on the day of departure. I always explain that this is because there may be damage or bills outstanding that for one reason or another cannot be calculated on the actual departure date. Covering eventualities This is not a rare as you might think. Often people have thrown the previous electric or water bill away, so calculating the cost can be impossible. Often items are damaged and the price of a replacement or repair is unknown. Reasonably, part of the deposit can be returned at this point but some must be held to cover these eventualities. I hope that this has been of use to some of you albeit this is slightly more serious than some of my previous articles. I believe that living here can be as easy or as complicated as we wish to make it. Having consideration and a little bit of common sense goes a long way in preventing problems arising but, if and when they do happen, this approach also helps to get the problems resolved quickly Until next time, keep enjoying the Land of Smiles and continue to have consideration for those around you so we can all appreciate the wonderful city we live in.

BY N OVA G R O U P

Affordable Beachside Living FROM

988,760 THB

ED H S I N R U FULLY F

EASY PAYMENT PLAN

1DE0PO% SIT

% 0 7 ,986 0 1 BALANCE THB PER MONTH

10% deposit can be paid using credit

038 706 116

cards

086 846 5995

NamTalayPattaya.com

Luxury Condos, Hotels & Venues Since 1994 NOVA-THAILAND.COM

newsREPORT

Shaping up for the future

he developers of the Feelture are describing the project as “The Condo of the Future” because, they say, it fulfils all the needs of owners and investors. As you can see the Feelture will have a curvy, modern look and style. A professional designer has created it with the concept “modern nature” in mind. The project will have many facilities such as a large swimming pool plus gardens on the roof. There will also be a gym, Jacuzzi, sauna and jogging track. Feelture will have an LED lighting system which can save up to 40 per cent of energy. Apartments also come fully furnished and ready to move in. The project can be found just 100 metres off the Sukhumvit Road, not far from floating market, Makro, Outlet Mall and Tesco’s. Prices at the Feelture are very affordable at less than Bt1m and you only need to put Bt5,000 down. A spokesman said: “We believe we off the best value for living or investing at the Feelture which is our sixth project.” l For details call +66 (0)82 377 6661-4 or you can email them at thefeelture@porchland.com; www.porchland.com. 41•REm•Issue 133•06/2012

eastcoast@thaiproperty.com â&#x20AC;˘ www.thaiproperty.com south pattaya home Pattaya City Soi 17 Land size: 94 sq.wah House size: 210 sq.m Euro kitchen Spacious living area

4 Bedrooms 2 Bathrooms Private swimming pool Landscaped gardens

sale: 4,800,000 BAHT silk road place East Pattaya Land size: 90 sq.wah House size: 160 sq.m Euro kitchen Private swimming pool

3 Bedrooms 3 Bathrooms Excellent facilities Long term only

rent: 50,000 BAHT/month jomtien park villas Jomtien Land size: 147 sq.wah House size: 160 sq.m Air conditioned basement Euro kitchen

2 Bedrooms 2 Bathrooms Private swimming pool Held in company name

SALE: 11,000,000 BAHT jomtien complex Jomtien Condo size: 68 sq.m Euro kitchen Studio 1 Bathroom

Easy access to beach Pool and sea views In foreign name 50/50 tax and transfer fees

saLE: 3,100,000 BAHT

Jomtien

038 267 030-1 â&#x20AC;˘ Pattaya 038 723 615-6

SPECIALFEATURE

Pirate ships are just part of the ‘bounty’ in new resort

he Bangkok-based Thai developers, Blue Sky Group, have launched their latest project, Grande Caribbean Condo Resort Pattaya, which will be built next to the Chateau Dale Complex on Thappraya Road in Jomtien. The launch comes hot on the heels of their inaugural project in Pattaya, the Atlantis Condo Resort Pattaya. Atlantis, which launched last October, has been a runaway success with 90 per cent of the

43•REm•Issue 133•06/2012

1,038 units sold in just five months! Grande Caribbean is grande indeed. Even bigger than Atlantis, the site occupies more than 11 Rai (approximately 18,000 square metres) and will comprise more than 1,100 units. Once more the architects have come up with an amazing theme. The site is a sprawling rain forest landscape of natural waterfalls and tropical gardens, interrupted by Hollywood-style pirate ships amid exploding water cannons which surround a lighthouse

under siege. All this while you relax in the comfort of your comfortable and stylish condo. Blue Sky Group directors and shareholders now include the owners of the Majestic Grande Hotel Group in Bangkok and the Diamond Business Group from Pattaya. These new partners have joined forces with Blue Sky and bring even more knowledge, expertise and financial strength to the already formidable team. Thavatchai (Bob) Sachdev,

managing director of Majestic Grande Group, commented: “Grande Caribbean raises the bar even higher in the Bt1.6mBt5m condo sector, with standard 34.5sqm, one-bedroom units that can be converted into 69sqm, two-bedroom apartments. Prices vary based on the situation within the resort. Some apartments will enjoy sea views, some garden views and others will have direct pool access. Bob added: “The combination of excellent location with innovative landscaping and the quality finishes and furnishings of the rooms will make Grande Caribbean the most interesting investment opportunity for owners and investors this year. We want to deliver a five-star package for a reasonable price. “The on-site sales office and showrooms are now open. We urge people to visit so they can see for themselves these beautifully styled and finished units. The deals on offer will amaze you.” l For more information, visit the website www. grandecaribbeanpattaya.com or call 080 095 8854.

SPECIALFEATURE

Construction starts at LBRJ two months early

t’s up and running – Laguna Beach Resort Jomtien (LBRJ) started construction on the April 21 immediately following Songkran. Heights Holdings’ flagship resort development in Jomtien, LBRJ is 600m from Jomtien Beach and ideally positioned just off the new Jomtien Second Road. At the time of writing more than 95 per cent of the units in it have been sold. 45•REm•Issue 133•06/2012

Apartments in LBRJ flew off the shelves following the launch of the project last July, with Buildings B & C both released to market ahead of schedule due to the relentless pace of sales. Unprecedented growth A spokesman for HH said: “Prices have seen unprecedented capital growth of more than 25 per cent since launch, with studios originally priced at Bt777,000

now selling for Bt1,250,000 – testament to the excellent investment potential of an offplan purchase in the HH resort development portfolio. The 7,800 sqm site was cleared in early April. Machinery arrived on the site during the Songkran break and LBRJ broke ground and commenced piling at the end of the third week of April with KK Construction employed as the primary contractor.

Piling is now nearing completion for Building A and Building B piling is well underway. The pictures show drilling into soil for initial piles for Building A and the binding steel used on them. l For further details on LBRJ – or information on the best deals available – call +66 (0)85 282 6454 or email info@heightsholdings.com.

fact sheet Laguna Beach Resort Jomtien features three buildings and 600 apartments. It is in a secluded, leafy location and boasts an array of first class amenities including a 1,300 sqm lagoon pool with a wave machine, artificial sand beach, ‘Jacuzzi caves’ and a water park. Features and facilities: • 10th project from Heights Holdings • 600m from the sea • 2.5 km from Pattaya City Centre • Project size of 7,800 sqm • Massive 1,300 sqm tropical lagoon pool with lush landscaping, boardwalks and gazebos • Pool bar, shop and restaurant • Coffee shop and lounge • Rooftop fitness and gym • Water park with slides, shower domes, waterfalls, Jacuzzis & Child’s play area • Underground parking • Completion: September 2014 • Complementary furniture package in every apartment Apartment specifications: • European-standard fitted kitchens • European-standard fitted bathrooms • Pre-installed LG ArtCool air cond units in every room • 60 x 60 cm granite floor tiles (cream) • Solid and stylish ‘Scorpion’ steel-core entry doors • Internal tempered glass doors • Gypsum ceilings • Sunken ceiling lights • Built-in wardrobes and kitchen cabinets • Private balconies • ISO-9000 Aluminium window and balcony frames • Pre-installed water heaters • Fire and lighting protection including safety detector systems 06/2012•Issue 133•REm•46

guestcolumnist

Mark Bowling is senior sales manager with Colliers International’s Pattaya office on Second Road opposite Central Festival. The branch office was voted Best Agent (Eastern Seaboard) in the 2010 Thailand Property Awards. He joined Colliers International in early 2009 having been sales manager with a local property development firm since 2006. Mark has had a successful career in international sales and marketing spanning more than 20 years both in Thailand and the UK. He can be contacted at mark.bowling@colliers.com

A letter to the mayor Dear Khun Tik

‘‘

Firstly may I congratulate you on your upcoming landslide victory at the mayoral elections, it’s great to have such a young and popular visionary fighting our corner and constantly striving to improve the city. Over your next four year term of office there are a few issues that I, and several people I have spoken with would like considered in order to improve Pattaya even further, elevating it to true a world class resort status. These include: l Drainage from flooding is still a major concern, not only does it damage Pattaya’s image but can also be considered a major health hazard when sewage comes up through the inadequate drainage system, giving the potential to pass on some serious disease to people wading in it while motorcycles and vehicles splash the contaminated water as they go through. It’s not like rainy season comes as a surprise each year and steps to improve drainage would be well received. Undesirable elements l As a father I feel that steps should be taken to clear away the undesirable elements on Beach Road such as prostitutes (female and katoeys), beggars and drug dealers. It’s currently not a place a family should consider taking a walk in the evening, which is really the best time to enjoy it. I’m aware that the city’s police do sometimes round up the offenders, who then pay a small fine only to return to work an hour later. Maybe the threat of imprisonment to repeat offenders or larger fines 47•REm•Issue 133•06/2012

Beach Road is currently not a place a family should consider taking a walk in the evening, which is really the best time to enjoy it.

’’

By mark bowling would deter the street walkers. Possibly the police would be better utilised to tackle this problem rather than taking fines from motorcyclists in the same area, many of whom are seen to be wearing helmets and appear to be stopped for no reason. Dolphin lighting l The sewage system appears to require a major upgrade. The brown, murky, garbage-filled waters in the bay aren’t what you’d call ‘picture postcard perfect’. The new street lighting with the dolphins perched atop are great, but unless the quality of water is improved we’re highly unlikely to see a real one. l Jet ski operators, I don’t have to say too much do I? This really needs to be addressed as a priority, regulated, monitored and insured in order to stop destroying Pattaya’s worldwide reputation through viral videos and the internet. Even as recent as April two Chinese students were attacked over a bogus claim for damages, which was negotiated down from Bt100,000 to Bt7,000 followed by a beating outside the visitors’ hotel. Don’t these operators realize the more they continue this behaviour, the more word will spread until they and many other small businesses will no longer exist. l Songtaews, is there any regulation upon how many may operate as there does seem to be a large number driving around without any passengers on board? Not only do they clog up the roads, drive dangerously, ignore the newly installed pedestrian crossings but they also add pollution to the environment, belching out clouds of black smoke. If Pattaya is to

be promoted as an Eco-tourism destination then surely there is a Greener means of public transport to be considered. There should also be a telephone number to report dangerous drivers, since most of them think it’s acceptable to swerve across two lanes of traffic without signalling, or drive the wrong way down a one way street to pick up their next 10 baht fare. l Overhead cables have been buried underground in some places but there is still some way to go. Pavements need to be improved and kept clear or we run the risk of turning Pattaya’s walkways into those seen in Bangkok. Pestering hawkers l From speaking with many tourists lots of them refuse to use the beach in Pattaya, mainly because of the lack of cleanliness of the sand and sea, too many umbrellas and also because of the constant pestering from the various hawkers selling everything imaginable. Again, couldn’t the police patrol the beach more vigilantly to limit the number of unregistered vendors? I think you’ve done a fantastic job in your first term and we all welcome the grand plans you have in store for Pattaya, such as the huge investment in the Bali Hai area for the new marina and car parking. The high speed rail link will also bring us millions of visitors each year, but how about first fixing problems on our doorstep to ensure these visitors leave with fond memories and return again in the future? Kind Regards Mark Bowling

regularcolumnist

American journalist and property investor Bart Walters has been living in Thailand for 11 years, first in Bangkok, then in Phuket and now in Pattaya. Bart publishes his inside views on Pattaya and its property market in various print and online publications including International Living and Escape America. He can be contacted at bkkbart@gmail.com

Lies, damn lies, then there’s the Pineapple Index

‘‘ ’’

By bart walters

orrect me if I’m wrong, but the vast majority of our readers have one thing in common; they all have at one time or another pondered, dreamt about or investigated owning property in a country that is not their own. Purchasing property on foreign soil is a desire many people share. It can be exhilarating, fulfilling and terrifying all at the same time. Visions of life in a tropical paradise dance precariously with fear mongering risk demons. In the age of the World Wide Web, information on just about any global property imaginable abounds. And that’s part of the challenge isn’t it? What is important? What is irrelevant? What is pure bull*&%@! How does one sort it all out? From Andorra to Uruguay, opportunities exist in property markets at many different

levels. For me, the logical first step is to pare the field down a bit and then look at the pertinent facts. I suppose a prospective investor could select by data that is relevant to their desires. Let’s say your main priority is buy-to-let. That is to say, you want to purchase property to rent out for a profit. One of the coldest If you were to select the country with the highest buy-to-let income you’d find yourself flying to Ulan Bator, the capital city of Mongolia. It should be noted that besides being the buy-tolet champion, this remote city also boasts one of the coldest average temperatures on earth. If you want to choose the country with the highest ranked health care system (according to the World Health Organisation), you’d be on a

buy-to-let statistics Price per sqm

What if we

narrowed our search for

global property Nirvana to

only countries that grow

pineapples?

plane to France or Italy. If you want to own in the country with the lowest crime rates your top three choices are Iceland, India and Azerbaijan. I’m sure they are nice people, but none of these places are what I had in mind. So, let’s rearrange our priorities another way. Most people who visit and return to Thailand love the mild weather and tropical atmosphere. We are like the Caribbean of Asia. What if we narrowed our search for global property Nirvana to only countries that grow pineapples? Pineapples are only grown in Tropical or Sub-tropical climates, usually with generous seasonal rainfall. The top five pineapple producing countries are The Philippines, Brazil, Costa Rica, Thailand and China. (Don’t worry; I didn’t know China grew pineapples either). The first four I have

cost of transactions

Average monthly rent

Gross Annual Rental Yields

Buy/Sell costs

Rental income tax

Capital Gains Tax

Philippines

3,204 US$

2,761 US$

8.62%

Philippines

.18%

5.13%

32%

Brazil

3,836 US$

2,191 US$

5.71%

Brazil

.12%

15%

Costa Rica

1,642 US$

1,147 US$

8.39%

Costa Rica

.11%

25%

Thailand

3,300 US$

2,143 US$

6.49%

Thailand

.07%

3.8%

37%

Indonesia

1,781 US$

1,819 US$

10.21%

Indonesia

.26%

20%

For both charts the prices are taken from the city centre of the largest business centre in the respective countries

49•REm•Issue 133•06/2012

Source: Global Property Guide

regularcolumnist

personally visited and could easily see myself interested in investing there. Warm weather, nice people, good food … what’s not to like? I’ve been to China as well. I cannot imagine investing or living there. So, to keep it competitive, we’ll drop China out and move number six up into our index … Indonesia. The Philippines, Brazil, Costa Rica, Thailand and Indonesia – all pineapple producing nations; all tropical paradise in their own right; all with property for sale. Let’s compare shall we ... There’s an old saying, “there are lies, damn lies and then there are statistics”. My Economics professor used to say, “Embrace the numbers, they have stories to tell”. Curiosity gets the best of me … I want to know the story these numbers are telling. Even if you never plan to buy a property to rent it out, buy-tolet statistics are great indicators of actual market value. A cursory look at the buy-to-let chart on the previous page indicates both Costa Rica and Indonesia stand out as their property is cheaper to buy and returns significantly higher gross rental yields. The big reveal However, the big reveal comes with the Cost of Transaction table alongside it. Indonesia’s buy/sell costs (sometimes referred to as “round trip cost”) are noticeably higher compared to the other pineapple republics. What’s more, Indonesia taxes rental income at 20 per cent as well and a similarly stiff capital gains tax. Costa Rica has no capital gains tax, but a progressively nasty rental income tax. The Philippines has relatively low round trip costs and rental income tax, but really take a bite out of any capital gain at sale with a whopping 32 per cent. Indonesia seems to take a handful of money out of the owner’s pocket at every opportunity. Brazil is expensive to buy, has the lowest return and also put their hand in your pocket whenever possible. Thailand’s capital gains tax is misleading. The rate actually goes down after a five year hold. I’d say Thailand wins the buy-to-

51•REm•Issue 133•06/2012

freedom, competition and rights Economic Freedom Philippines 36.19

Economic Competitiveness Freedom + 5 years -1.05% 4.68

Property Rights Index 30

Brazil

56.34

-45.60%

4.32

Costa Rica

67.34

+14.38

4.27

Thailand

64.73

+14.31

4.52

Indonesia

55.97

+40.71

4.38

let battle. Round trip costs are the lowest as are rental income taxes. If you are a buy-to-let purist and not a real estate “flipper”, for sure Thailand wins.

‘‘ I’d say Thailand wins the buyto-let battle. Round trip

costs are the

lowest as are rental income taxes.

Economic freedom Statistics also exist for property issues one wouldn’t normally attach a number to. Economic Freedom can be measured … did you know that? Above you’ll see our five pineapple republics measured on how conducive their economy is to growth. The higher score is better. Here are the ratings: l Free 80 - 100; l Mostly Free 70 - 79.9; l Moderately Free 60 - 69.9; l Mostly Unfree 50 to 59.9; and l Repressed 0 - 49.9. Perhaps more telling is the Economic Freedom index five year projection. Here are the rating categories for this figure: l Greatly Improved – 10+ l Improved – 0-9 l Nuetral – 0 or no change l Worse – -(1 ) – (-9) l Much Worse – 10 or more Source: The Heritage Foundation and the Wall Street Journal. Country competitiveness How competitive a country is can be measured as well. The Growth Competitiveness Index (GCI) aims to quantify the quality of the macroeconomic environment, the state of a country’s public institutions, and its level of technological readiness. Higher competitiveness scores are more desirable:

l Very High 5.51 to 7 l High 4.51 to 5.50 l Moderate 3.51 to 4.50 l Low - 3.01 to 3.50 l Very Low 0 to 3.00 Source: World Economic Forum. Propert Rights Index A subcomponent of the Index of Economic Freedom, the property rights index measures the degree to which a country’s laws protect private property rights, and the degree to which its government enforces those laws. Higher scores are more desirable, i.e. property rights are better protected. Scores are from 0 to 100. The index also assesses the likelihood that private property will be expropriated and analyzes the independence of the judiciary, the existence of corruption within the judiciary, and the ability of individuals and businesses to enforce contracts. Source: The Heritage Foundation and the Wall Street Journal. Bumpy road Mash all these numbers together and conclude that The Philippines could be a bumpy road. Rated lowest in economic freedom and going backwards. Their competitive edge is great (probably because of political stability and an English speaking workforce), but prospective property owners need to take a look at that sub-par property rights index rating. Brazil also looks headed for trouble. For property owners there are plenty of rights and protection, but rampant inflation and economic volatility will make life in Brazil

regularcolumnist

currency +/ valuation index

healthcare statistics

Physicians per 10,000 Philippines 11.53ึ

Life expectancy 71.7ึๅใึ

Philippines

.55

Brazil

1.09

Brazil

72.4ๅ

Costa Rica

.73

Costa Rica

13.2

78.8

Thailand

.54

Thailand

70.6

Indonesia

.74

Indonesia

70.7

graph, but telltale statistics exist for us to ponder. A few years back, I spoke at a conference put on by International Living, an American publisher focusing on the expat market. After finishing my dog-and-pony show on Thailand, I was barraged by questions from interested expat wannabes. The top two questions were: 1) is it safe? and 2) how’s the healthcare? So let’s sort our fabulous 5 out with regard to those questions.

less desirable over the next five years. This is bad news for property owners who live there and those who want to sell. Indonesia looks like they are on the upstroke in terms of economic freedom, but lag far behind in property rights. Again Thailand looks pretty stable. The Economic Freedom Index looks good and getting better. Competitiveness is middle of the field as are property rights. However, I’d say Costa Rica wins this test. It leads the field in Economic Freedom and is expected to get better. Their competitiveness is within range of the others and they top the property rights index. When it comes to economic peace of mind and investor’s rights, I’ll take Costa Rica with Thailand placing a close second.

‘‘

Currency +/- Valuation Index The Currency +/- Valuation Index is a good cost of living indicator. The figure shows how much how much a bundle of goods and services costing US$1 in the US would cost in other countries (similar to The Economist’s Big Mac Index). Source: IMF World Economic Outlook Database. Brazil is victim to its own overheated economy and runaway inflation. A basket of goods that cost you $1 in the US cost $1.09 in Brazil. Neither Latin American country can compete with The Philippines and Thailand in this comparison. Cost of living for the Southeast Asian neighbors is very favorable. All these statistics are great to the cold hard investor, but what about people who actually envision living in the country they want to invest in? The differences between some countries may not be demonstrable on a chart or 53•REm•Issue 133•06/2012

I don’t know if anyone goes

to Costa Rica

for affordable operations performed by skilled

surgeons; but people sure flock over here for that reason.

Healthcare statistics Healthcare statistics can be a tricky thing. Causal links can be drawn where no cause exists. Which stats indicate a good health care system? And what is the ultimate indication that a country is in better health than others? After looking at several pages of categories for health care statistics, I chose the only two that really tell me anything. It is pretty apparent to me from these numbers that more doctors per capita means longer life. Costa Rica wins hands down using these rudimentary stats. Thailand looks like a backwater pulling up the rear with Indonesia. But, some important information that doesn’t show on the chart needs to be presented. Since I live in Thailand, I know that there is a very big gap between the health care available to your average Thai and those expatriates can get. The care for us is good and affordable. Bumrungrad International Hospital in Bangkok attracts more than half a million medical tourists a year. Maybe the WHO needs to take another head count on doctors per

10,000 to include the Farang corridor in Bangkok. I don’t know if anyone goes to Costa Rica for affordable operations performed by skilled surgeons; but people sure flock over here for that reason. Again, I’m a little suspect on the value of these statistics as indicators of good health care. The US has 26 doctors per 10,000 people with a life expectancy of 78.2 years. Yet, the poor quality of the health care in that country is one of the reasons I moved out. Not to mention how completely unaffordable medical care has become. Is it any wonder my current insurance policy covers me everywhere in the world except the US? I am unable to declare a winner on this issue and will freely admit to being partial to my adopted country of Thailand. I personally rate Thailand’s available health care very high. Associates living in the Philippines report similar feelings there. I suspect a study of health care costs as a percentage of personal income would reveal Brazil to be nearly as pricey as the US. However, the numbers available are misleading and make it hard to accurately compare the systems. The same cannot be said of some statistics related to “safety”. Again, there are categories upon categories for issues that relate to how safe a place might be to live. Here I only deal with two. Clearly Brazil appears to be quite a bit more dangerous than any of our other Pineapple producing picks. Choosing to live in The Philippines may also put you in a high risk group. Thailand is sending mixed signals with the lowest murder rate, but one

regularcolumnist

safety statistics

BART’S PINEAPPLE INDEX RATINGS

Philippines

Murders per 10,000 population 12.2

Vehicle related deaths 20

Brazil

19.9

Costa Rica

11.3

15.4

Thailand

5.3

19.6

Costa Rica Thailand

Indonesia

8.1

16.2

Indonesia

Philippines Brazil

Source: United Nations Office of Drugs and Crime. of the highest incidences of vehicular a motorbike has ensured I stay in a death. If I had to guess, I’d say the very low risk group indeed. number of motorbikes per capita is strongly associated with the number Summary: So, if forced to make a property of people who die on the road. These stats sit a little bit better buying decision based only on the with me. I’ve been to Brazil and it handful of charts we’ve looked at, can be extremely dangerous. I try not which country would be crowned to travel in countries where being Pineapple Prince? Brazil is expensive (inflation is kidnapped is a concern. Likewise for The Philippines; after more than a higher than rental yields) and very dozen trips, I still can’t get over the dangerous. Who cares what the guys with the sawed-off shotguns health care is like? Samba- land rates outside the grocery stores and ATMs. a dismal one pineapple. The Philippines has high taxes, And just because Indonesia is in single digits on its murder rate, it’s high buy/sell costs and is dangerous. But the health care is probably pretty still 50% more than Thailand. For safety, I can pick Thailand good. They rate two pineapples. Indonesia taxes property owners and argue the merits all day. In countries like Brazil and The heavily and scores low on property Philippines I never feel safe. In rights, but appears to be blossoming Thailand I always feel safe. It’s just as a real competitor in the region. that simple. Resolving to not get on It is more dangerous than Thailand,

‘‘ It should

however be noted ... I

could easily

dive back into the columns of columns of available statistics and

come out with an entirely different conclusion.

Are two heads better than one? This pineapple could start a new round of stats. 55•REm•Issue 133•06/2012

but not nearly as much as the other three countries. Healthcare is an unknown, but with one doctor per 10,000 people and a life expectancy of 70 it clearly brings up the rear in this category. I’d say Indonesia at this point rates only two pineapples, but is on track to pick up a third in the next five years. Costa Rica has treacherous rental income taxes, but no capital gains tax. Freedom, competitiveness and property rights are all positive factors for Costa Rica. Health care statistically is good, but it is mildly dangerous. Something that is not expressed in the statistics is the fact that Costa Rica is quite small both in land mass and population (4.3 million) with really only one big city. It does however boast coastlines on two oceans. The land of Pura Vida gets 3.5 pineapples. Thailand is quite good for buyto-let with low round trip costs and favorable taxes. It appears Thailand will stay on a positive track in terms of economic freedom and competitiveness. Health care is great and affordable. Thailand ranks as the safest of our group. Thailand edges out Costa Rica by half a pineapple with four. And no one here is surprised that Thailand wins the Pineapple Race. I can defend my ranking with the statistics shown here. It should however be noted … I could easily dive back into the columns of columns of available statistics and come out with an entirely different conclusion. Lies, damn lies and statistics? Embrace the numbers … they have a story to tell. Bart Walters

4A PROPERTIES realty Your Trust In Real Estate G l o b a l P ro p e r t y B ro ke r

Let’s talk Real Estate Tel: 038 756 370 • Fax: 038 757 015 • Mob: 086 144 1312 or 085 650 0187

Spinnaker: From 47-420sqm. Prices start from Bt5.3m

Under construction: Uninterrupted sea view.

On 21st floor: More than 83.5 metres high.

The only real beachfront with 5-star service from Mövenpick.

Jomtien Plaza: Rental Studios. From Bt18,000-40,000 p/m.

Jomtien Plaza 2-bedroom, 126 sqm from Bt5.9m

The Cove: One bedroom. Empty shell. Bt11m only

Plaza: Studio – 54 sqm. Only Bt3.7m.

Very nice 1-bedroom with sea view make your offer!

La Royale: Best offer. 3-bed, less than developer price!

Rent: One-bedroom Bt35,000 p/m; two-bedroom Bt65,000 p/m.

New developments: For THE best offers talk with us.

Exclusive house: Exceptional living – Bt65m.

Jomtien Condotel: Studio 36 sqm Only Bt2.5m.

Pool villa: 200m from the beach. 2 & 3 beds from Bt14.5-23.5m.

Beachfront Villa: 3 bed – 800 sqm. ONLY Bt29m.

You want to swim here? We know how you can do it!

House with swimming pool: Less than Bt6m.

Resales at Mövenpick Spinnaker

1 bedroom 63 sqm on the 24th floor   2 bedroom 88 sqm on the 30th floor Only 125,000 per sqm! Completion of Mövenpick Spinnaker the 1st quarter of 2013

For more properties and information visit us at our office in Jomtien Plaza 2nd floor www.AAAAproperties.com • info@AAAAproperties.com

Prices From 2.7MB Tel. 038 252 996

www.thelegendpattaya.com

Colliers ad pre-printed by Homes & Condos

Meridiem Park

Next to King Rama IX Park at Pattaya City PRICES START FROM

44,000 baht / SQM

Studio

28 sqm 1,18 M baht

1 bedroom 1 bedroom

39 sqm 1,69 M baht

40,4 sqm 1,81 M baht

1 bedroom

48 sqm 2,11 M baht

Full fitted, maid service included, for free + 66 (0)8888 10311 –English + 66 (0) 8888 10313 –Thai SHOWROOM AT THAPPAYA ROAD, CORNER OF SOI 13, Pattaya City

www.domum-holding.com

sales@domum-holding.com

SPECIALFEATURE

Domum look to build

75•REm•Issue 132•06/2012

on Meridiem success Relative newcomers make rapid sales progress and have already launched their second project 

06/2012•Issue 133•REm•76

SPECIALFEATURE

Domum look to build on Meridiem success I

t seems only yesterday that I was reporting on the launch of the Meridiem project by the Domum Holding company, writes Dave Buckley. In fact is was just six months ago and already more than 80 per cent it has been sold which takes some doing in my opinion. Meridiem is the developer’s first condominium in Pattaya but they bring a wealth of experience to the project having completed more than 90 others in 38 countries spread around the globe. Now Domum plan to build on that early success by preparing to launch their second project, Meridiem Park, which is currently in pre-launch phase. It lies just a few metres away from the first development on Thappraya Soi 4. There is no great secret behind the Domum success story. Put simply, they offer quality materials, modern design at affordable prices and in great locations. In the new project the per sqm price is just Bt44,000 which compares favourably with others in the Pratumnak area. The above formula alone

For example Meridiem Park will have a rooftop swimming pool, sundeck, a natural sand beach area, fitness centre and rooftop garden – all items that are also contained in Meridiem I. The one very noticeable rooftop change is that Meridiem Park will have a sauna suite.

The reception area for the Meridiem and Meridiem Park showrooms on Thappraya Road. Below are pictures from the newly refurbished show unit. On previous spread is the night view from the roof of Meridiem Park and on the facing page is a rendering of the rear of it. will go a long way to convincing prospective buyers but Domum are determined to stand out from the crowd. So a few months after the launch of Meridiem they introduced the free maid service which we reported extensively in a previous edition. Airport service Not content with that they also have introduced a VIP “transport you from the airport service”. A

recent Thai client asked: “If I fly into Bangkok airport from, say, Khon Kaen will you still pick me up?” The answer was “yes”. Much about the Meridiem Park project is similar to Meridiem I in terms of content though the make-up of the roof designs differ. If it isn’t broken, why fix it, seems to be the philosophy! The showroom on Thappraya Road has been given a facelift to reflect the new project.

Concierge service The maid service and airport transportation are also standard in the new project as is the customised concierge service. Add in 24-hour security, key card access, a coffee shop and wifi internet plus cable TV and you get an idea of the value for money. Prices start at Bt1.18m for a 28sqm studio. There are three one-bedroom options of Bt1.69 for 39 sqm; Bt1.81 for 40.4 sqm or Bt2.11m for 48 sqm. In addition two penthouse units are available. All units come with a balcony and all furniture displayed in the showroom that is fixed to a wall is included, such as air conditioners, kitchen units and wardrobes. In total there are 69 units available in Meridiem Park. Ω

Contacts Domum Holding Co Ltd 391/109 M10, Thappraya Road, Nongprue, Banglamung, Pattaya City, Chonburi 20150 Showroom is on Thappraya Road halfway between The Mokador Café and Mata Hari restaurant on the corner of Soi 13. E: sales@domum-holding.com W: domum-holding.com T: +66 (0)38 251464 (sales office) F: +66 (0)38 251733 Thai: +66 (0)8888 10313 English: +66 (0)8888 10311 77•REm•Issue 133•06/2012

06/2012•Issue 133•REm•78

M e r i d i e m P a r k Next to King Rama IX Park at Pattaya City Residences Facilities

PRICES START FROM

Concierge & Residences Services

44,000 baht / SQM Rooftop Swimming Pool and water reflection area Maid Service included, weekly Sand Beach, Natural as Origin Sauna with Bay View Terrace Fitness Center Rooftop Garden Lobby and Underground Parking

Beverages as a welcome package, weekly Customized Concierge Service VIP Airport Transportation 24 hour Security, Key Card access Coffee Shop Wifi Internet / Cable TV

Additional Services Laundry and Rental Services

Full fitted, maid service included, for free + 66 (0)8888 10311 –English + 66 (0) 8888 10313 –Thai SHOWROOM AT THAPPAYA ROAD, CORNER OF SOI 13, Pattaya City

www.domum-holding.com

sales@domum-holding.com

broker & developer directory

How the Waterfront Suites & Residences will look at night. Piling work on the project has already started.

Your at-a-glance guide to some of the major players in the Pattaya property market. We do not claim this is a comprehensive list of all the brokers and developers who can provide a service but we hope readers will find it helpful.

This section is kindly sponsored by the Tulip Group

a g e n ts

glossaRY

AAAA Properties Jomtien Plaza Condotel 406/37 M12 Jomtien Beach Road T: +66 (0)38 756 370 F: +66 (0)38 757 015 M: +66 (0)86 144 1312 E: info@aaaaproperties.com W: aaaaproperties.com Principal: Louis J Van den Bergh

AIPP: Acronym stands for The Association of International Property Professionals which is a not-for-profit organisation whose aim is to improve the standards of professionalism in the international property market, helping both the industry and the public. Members have voluntarily signed up to follow the AIPP Code of Conduct.

NAR: National Association of Realtors is North America’s largest trade association representing more than 1.2 million members. Members can call themselves REALTORS®. NAR also functions as a self-regulatory organisation for real estate brokerage. REBA (Thailand): This is the nationwide Real Estate Broker Association with affiliation to the international Council of Residential Specialists. REBA-ES: The Real Estate Broker Association for the Eastern Seaboard.

RETS (Thailand): Real Estate Training School (Thailand) – brokers seeking membership of REBA must have staff attend and pass their test. More overleaf

Big Mango Properties Main office: South Pattaya – Soi Big Mango off Third Road T: +66 (0)38 713 118 Second office: North Pattaya – Wong-Amat Residence, 505/1 Moo 5, Soi 16 Naklua Road T: +66 (0)38 725 001 Third office: BNT Building 155/4-6 Asoke Road, Bangkok T: +66 (0)2 258 8421 F: +66 (0)2 258 8420 M: +66 (0)89 685 2198 E: michael@bigmangoproperties.com W: bigmangoproperties.com Principal: Michael Barricelli Bizhouse Co Ltd 324/22 Moo 9 Central Pattaya Road near junction with Third Road T: +66 (0)38 416 322 M: +66 (0)89 0924593 E: info@bizhouseproperty.com W: bizhouseproperty.com Principal: Richard Arthur buythaiproperties.com 308/69 M10 Thappraya Road T: +66 (0)38 251 644 F: +66 (0)38 251 645 M: +66 (0)8 456 210 40 E: info@buythaiproperties.com W: buythaiproperties.com

AGENTS DIRECTORY • Sponsored by Tulip Group • 05-06/2012 • Issues 132 and 133

Arise Asia 477/25 View Talay 5C, Thappraya Road T: +66 (0)38 075 610 M: +66 (0)85 228 8911 or (0)89 107 9807 E: info@ariseasia.com W: ariseasia.com Principal: Thanyamai Totharong (Thanya) Memberships: CRS, REBA (Thailand), REBA-ES, RETS (Thailand), NAR

i r

p e

d e

t n

CRS: Certified Residential Specialist (CRS) is the top professional designation awarded to REALTORS® in residential sales. Held by fewer than five per cent of all REALTORS®.

r p

All Siam Properties M: +66 (0)87 068 5159 E: info@allsiamproperties.com W: allsiamproperties.com Membership: TREA

Benchmark Asia Property Co Ltd 315/309 M12, Thepprasit Road T: +66 (0)38 304 133 M: +66 (0)81 792 9486 E: info@benchmarkthailand.com W: benchmarkthailand.com Principal: Gareth De Silva Memberships: CRS, REBA (Thailand), REBA-ES, RETS (Thailand), NAR

CIPS: Certified International Property Specialist – this is a members-only group which is for international practitioners of the National Association of REALTORS®.

Property Consultants

Alan Bolton Property Consultants Unit C102, 399/9 M10 The Avenue Shopping Mall Second Road near Villa Market T: +66 (0)38 416 728-9 F: +66 (0)38 416 730 M: +66 (0)81 996 2489 E: info@pattaya-property.net W: pattaya-property.net Principal: Alan Bolton Memberships: REBA (Thailand), REBA-ES, RETS (Thailand), TREBS

Beli Slon Real Estate 565/59 M10, Sukhumvit Road, near Big C, South T: +66 (0)384 272 83 M: +66 (0)86 15 000 79 or (0)89 253 0622 E: info@beli-slon.com W: beli-slon.com Principals: Verona Teplyakova and Krittiya Thongkamdee (Kwang)

The following are among the trade organisation memberships or qualifications held by some of the agents. Note that, in some instances, the qualification is with the individual employee – not the company overall.

ACI Enterprise Co Ltd (incorporating ACI Ocean Properties) 672/20 M5 Soi 18, Naklua Road next to Northpoint, Wong-Amat T: +66 (0)38 41 6060 F: +66 (0)38 41 6061 M: +66 (0)81 762 2627 E: info@aci-enterprise.com W: aci-enterprise.com and pattayaoceanproperties.com Principal: Markus Probst Memberships: CRS, REBA (Thailand), REBA-ES, RETS (Thailand), NAR

d i re c t o r y

a g e n ts

d i re c t o r y

glossaRY

Coastal Real Estate 216/62 M10, Soi 13 (Soi Diana net Mega-Break) T: +66 (0)38 421 580 M: +66 (0)81 269 0742 E: info@pattayarealestateservices.com W: pattayarealestateservices.com Principal: Kevin Mattson

RICS: Royal Institution of Chartered Surveyors – an independent body which regulates the conduct of property professionals and surveyors in the UK and other sovereign nations. RICS provides education and training standards, protects consumers with strict codes of practice and advises governments and business.

AGENTS DIRECTORY • Sponsored by Tulip Group • 05-06/2012 • Issues 132 and 133

Colliers International Thailand 519/4-5 Second Road, opposite Central Festival, Pattaya Beach T: +66 (0)38 427 771 F: +66 (0)38 427 772 M: +66 (0)85 2828 120 E: info.pattaya@colliers.com or mark.bowling@colliers.com W: colliers.co.th Principal: Mark Bowling Memberships: RICS

TREA: The Thai Real Estate Association aims to be the hub of the real estate profession here by encouraging entrepreneurs to operate to standards of quality and ethics; to create the maximum benefits for developers, government and consumers altogether.

East Coast Real Estate Co Ltd Office 1: 414/19 M12 Jomtien Complex T: +66 (0)38 267 030-1 F: +66 (0)38 267 029 M: +66 (0)81 862 8034 Office 2: 485/4 M10 Second Road T: +66 (0)38 723 615-6 F: +66 (0)38 426 193 E: info@thaiproperty.com W: thaiproperty.com or thaiproperty.net Principal: David Gray

i r

Farang Property Services 223/32 M9, Third Road T: +66 (0)38 052 495 F: +66 (0)38 052 496 M: +66 (0)89 938 7433 E: info@farang-services.com W: farang-services.com Principal: Manfred Ehrenheim Advertisements: Pages 4 and 5 Five Star Villas & Condos Main office: Pratumnak – Tara Court 388/109 M12, Pratumnak Road Second office: Jomtien – B30, The Village Shopping Centre M: +66 (0)81 938 8391 Robert or (0)809 16667 Mesiya E: sales@fivestarvillasandcondos.com W: fivestarvillasandcondos.com Principals: Robert and Mesiya (May) Watson Memberships: CRS, REBA (Thailand), REBA-ES, RETS (Thailand), NAR, TREBS

Golden Homes Real Estate Co Ltd 33/39 M9 Soi Diana Inn T: +66 (0)38 720 892-3 M: +66 (0)86 826 8821 E: info@goldenhomespattaya.com or Ploy1@csloxinfo.com W: goldenhomespattaya.com Principal: Yupaporn Sangpagdee (Ploy) Jomtien Property 315/185-6 Thappraya Road near entrance to View Talay 2 T: +66 (0)38 303 243 M: +66 (0)86 108 6575 E: info@properties-in-thailand.com W: properties-in-thailand.com Principal: Stu Sutton

d e

t n

TREBS: The Thailand Real Estate Broker School provides training for real estate professionals. The course includes real estaterelated laws, broker law, broker ethics, listing and sales techniques, reconciliation techniques, property evaluation, property transfer procedure and tax calculation.

p e

r p

Delight Real Estate Co Ltd 308/58-59 M12 Thappraya Road T: +66 (0)38 251 415 F: +66 (0)38 251 416 M: +66 (0)89 542 3041 (Eng/Ger/Dutch) or +66 (0)89 253 8842 (Thai) E: info@delight-realestate.com W: delight-realestate.com Principal: Anne-Marie Adriaans

Global Property Global Solidor Enterprise Co Ltd North Pattaya – 157/142 Moo 5, Naklua Road T: +66 (0)38 427 364 M: +66 (0)82 469 5551 or +66 (0)81 838 1390 E: info@global-solidor.com W: global-solidor.com Principal: Rainer Heinzmann

North Shore Property Co Ltd 315/414 M12 Thappraya Road T: +66 (0)38 303 825-6 M: +66 (0)87 833 5066 or (0)86 323 4607 E: info@ns-property.com W: ns-property.com Principal: Mesa Wongsida NT Realty Asia 215/15-18 Second Road T: +66 (0)38 426 242 or (0)38 425 836 F: +66 (0)38 426 243 E: info@nt-realty.com W: realestatethailand.com Philippines office: 11 Malabanias Road Angeles City, Pampagna 2009 T: +63 (0) 45 892 5719 Principals: John Seymour, Tim Bunker, Peter Randall (directors) and Paul Sutton (regional manager) Memberships: REBA (Thailand), REBA-ES, RETS (Thailand), NAR

a g e n ts One Stop Real Estate 219/14 M9, Soi Yamato T: +66 (0)38 710 699 or (0)38 710 725 M: +66 (0)819 454 845 E: onestop@realesthai.com W: real-estate-thailand.com Principal: Mark Welch Memberships: CRS, REBA (Thailand), REBA-ES, RETS (Thailand), NAR Paradise City Property 116/27 M9, Pattaya Klang opposite Big C Extra (formerly Carrefour) T: +66 (0)38 373 966 M: +66 (0)81 761 3238 E: pattaya@paradisecityproperty.com W: paradisecityproperty.com Principal: Gavin Perfect

Est. 2001

PATTAYA REALTY Follow us:

http://on.fb.me/pattayarealty

@pattayarealty

Pattaya Realty 219/1 Tipp Plaza, Second Road T: +66 (0)38 412 301-2 6,968,000 M: +66 (0)89 833 6175(CS5049) orSale(0)89 832 7226 Sale 11,900,000 (HS5005) Central Pattaya - Foreign Name: E: info@pattayarealty.com W: pattayarealty.com (HR1449) (CR3816) Principal: Stuart Daly Memberships: CIPS, REBA (Thailand), VJ Vil age REBA-ES, RETS (Thailand), NAR int size 190 m sq, ext size 540 m sq, 3 beds, 3 baths, fully fitted kitchen, high quality furnishings, Internet, close to local amenities, security alarm, covered car park, 24hr Security.

Brand new condominium in Pattaya int size 104 m sq, 3 beds, 3 baths, fully furnished, fully fitted kitchen, communal gardens, communal swimming pool, car park, 24hr Security.

(HS4959)

Rent 25,000 / month

Sale 6,990,000

Rent 20,000 / month

South Pattaya: int size 55 m sq, 1 bed, fully furnished, fully fitted kitchen, TV, DVD, Hi-Fi, close to local amenities

: int size 225 m sq, ext size 328 m sq, 3 beds, 2 baths, fully furnished, fully fitted kitchen,private gardens, private swimming pool, covered car park, 24hr Security.

East Pattaya :Ext size 420 m sq, 4 beds+ maid's room, 3 baths, fully furnished and kitchen, security alarm, private gardens communal swimming pool, covered car park, 24hr Security.

Rush! Premier Homes RealBeat TheEstate Co Ltd 240/21 Jomtien Beach Road T: +66 (0)38 231 931 M: +66 (0)81 634 2915 E: premier@loxinfo.co.th W: premierinternational.com (HS0247) Principals: Clayton and Supap: Wade Memberships: CIPS, RETS (Thailand), NAR (HR1041)

(CR4944)

Situated on top of Pratumnak hill, Spectacular sea and city view For special pre-launch prices in the highest building in Pattaya!

Baan Balina I

Rent 35,000 / month

Rent 16,000 / month

Na jomtien:Bali Style,Int size 300 m sq, ext size 560 m sq, 3 beds, 3 baths, high quality furnishings and fully fitted Euro style kitchen, maid's room, Private gardens, private swimming pool, covered car park, 24hr Security.

Pratumnak:int size 48 m sq, Studio apartment, fully furnished, fully fitted kitchen, beautiful sea views, communal gardens, communal swimming pool, car park, 24hr Security.

Pattaya Estate Agents (PEA) Car Park, Tesco-Lotus, South Pattaya M: +66 (0)819 458 650 (Thai) or (0)86 080 3098 (Eng) E: info@pattaya-estate-agents.com W: pattaya-estate-agents.com Principal: Sununtha Bun-um (Boom)

Rent 44,000 / month

Sale 29,000,000 Jomtien: Fully renovated to a very high standard with 4 beds, 4 baths, fully furnished,

fully fitted kitchen, Jacuzzi, large private gardens, private swimming pool, security alarm, covered car park, 24hr Security.

Pattaya Prestige Properties 2/28 Ground Floor, View Talay 7 F: +66 (0)38 059 632 M: +66 (0)870 217 014 E: info@pattayaprestigeproperties.com W: pattayaprestigeproperties.com Principal: Jan Nuyten

Sale 12,950,000

The Regents Superior detached, two storey house, int size 650 m sq, ext 1400 m sq,

4 bedrooms + en suite, 5 bathrooms, fully fitted kitchen + food storage room, Jacuzzi, private landscaped gardens, large private swimming pool, separate self-contained 1 bedroom + en suite guest house with AC, security alarm, covered car park ,electric gate.

Our office address: 219/1 Tipp Plaza, Pattaya 2nd Road. Next to Mike Shopping Center, Nongprue Chonburi 20150

www.pattayarealty.com

Email: info@pattayarealty.com

i r

p e

Talay Real Estate Co Ltd 240/18 M5, Naklua not far from Dolphin Roundabout on Second Road T: +66 (0)38 362 352 F: +66 (0)38 362 351 M: +66 (0)87 608 1116 or (0)8 0091 5353 E: info@talayrealestate.com W: talayrealestate.com Principals: Namthip Khanjanavisittaphol (Sandy) and Ted T Okuno

d e

Thailand-Property-Gate Head office: 82/9 Langsuan Road, Lumpini, Pathumwan, Bangkok 10330 Eastern Seaboard office: 449/84, M12, Thepprasit Road W: Thailand-Property-Gate.com E: Stefan@thailand-property-gate.com M: +66 (0)81 835 99 23

t n

Rightmove Pattaya 369/1 M9, Units 8&9 PS Bowl, 2nd Road T: +66 (0)38 361 212 M: +66 (0)89 253 5607 E: info@rightmovepattaya.com W: rightmovepattaya.com Principal: Craig Turner Memberships: REBA (Thailand), REBA-ES, RETS (Thailand) Advertisements: Pages 30 and 31 Tel:66(0)38 412 301/2 or 089 833 6175 089 8327226

r p

Pattaya Ocean Property 405/23 Soi Bongkot T: + 66 (0) 38 374 623 F: + 66 (0) 38 374 623 M: + 66 (0) 811 580 065 ( English) + 66 (0) 807 247 476 ( Thai) E: info@pattayaoceanproperty.com W: pattayaoceanproperty.com Principal: Mal Patterson

Opposite Bangkok Pattaya Hospital East Pattaya:4 beds, 3 baths, fully furnished and kitchen, washing machine, Private gardens, private swimming pool, covered car park, 24hr Security.

W: siamproperties.net Second office: 334/14 Soi Welcome, Jomtien Hotel off Jomtien Beach Road T: +66 (0)38 059 637 Third office: Wong-Amat Soi 18 (View Talay Residence 6) T: +66 (0)38 371 385 Principals: Heiner and Porn Moessing Memberships: CRS, REBA (Thailand), REBA-ES, RETS (Thailand), NAR

Sallmanns (Eastern Seaboard) Ltd Near Hanaman Statue, Jomtien T: +66 (0)38 252 588 M: +66 (0)87137 0392 E: pattaya@sallmannsthailand.com W: sallmannsthailand.com Principal: Tim Gladwin Seaboard Properties Co Ltd 316/23 Thappraya Road near Food Mart, Jomtien T: +66 (0)38 252 456 F: +66 (0)38 252 457 M: +66 (0)86 129 8281 E: info@seaboard-properties.com W: seaboard-properties.com Principal: Eddie Buehler Siam Properties Main office: 313/27 M10 Pattaya Tai T: +66 (0)38 415 490 F: +66 (0)38 414 693 M: +66 (0)81 861 1907 (Heiner) or (0)81 821 7045 (Porn) Russian: +66 (0)89 245 2890 (Vera) E: info@siamproperties.net or rus@siamproperties.net

Thailiving 306/90-91 M12 Thappraya Road T: +66 (0)38 364 514 M: +66 (0)81 862 7405 E: info@thailiving.net W: thailiving.net Principal: Supaporn Persson (Sara)

Town & Country Property 63/10-11 Pattaya Tai T: +66 (0)38 374 136 F: +66 (0)38 374 137 Russian: +66 (0)84 873 7425 E: info@towncountryproperty.com W: towncountryproperty.com Second office: B23 The Village Shopping Centre, junction of Sukhumvit and Soi Chaiyapruk Principal: Cees Cuijpers Memberships: CRS, REBA-ES, NAR Advertisements: Pages 8 and 9

AGENTS DIRECTORY • Sponsored by Tulip Group • 05-06/2012 • Issues 132 and 133

Pattaya Jomtien Property 75/49 Soi 5 Immigration, Beach Road, Jomtien (75m from Immigration Office) T: +66 (0)38 756 755 M: +66 (0)85 129 5657 (Thai); or +66 (0)85 667 3687 (English) E: sales@pattaya-jomtien-property.com W: pattaya-jomtien-property.com Principals: Kevin and Chanram Hurst Memberships: AIPP (International)

GRE

COM L IN

ENTA

AT R

(HR1306)

(HS4948)

d i re c t o r y

REAL ESTATE BROKER ASSOCIATION â&#x20AC;&#x201C; EASTERN SEABOARD

ticks all Members of REBA-ES are respected

Member companies in REBA-ES are part of an established and respected real estate organisation which has the support of the Thai Government

professional

ETHICAL

Clients of REBA-ES members can be confident that they are dealing with honest, reputable and properly trained real estate professionals

r p

d e

The high standards we set conform to internationallyapproved rules, regulations, strict codes of ethics and dispute resolution policies

t n

i r

p e

INFORMed

Our members network closely, giving all of them access to the Eastern Seaboardâ&#x20AC;&#x2122;s largest real estate association

For comprehensive property listings and professional real estate consulting contact our members at www.rebaes.com

www.rebaes.com

REAL ESTATE BROKER ASSOCIATION – EASTERN SEABOARD

the boxes ... Sponsoring REBA-ES members Stuart Daly +66 (0)38 412 301-2 info@pattayarealty.com www.pattayarealty.com

John Seymour +66 (0)38 426 242 info@nt-realty.com www.realestatethailand.com

Mark Welch +66 (0)81 945 4845 onestop@realesthai.com www.real-estate-thailand.com

Markus Probst +66 (0)81 762 2627 info@aci-enterprise.com www.pattayaoceanproperties.com

Heiner Moessing +66 (0)89 499 1000 info@siamproperties.net www.siamproperties.net

Rob Watson +66 (0)81 938 8391 sales@fivestarvillasandcondos.com www.fivestarvillasandcondos.com

Rainer Heinzmann +66 (0)81 838 1390 info@global-solidor.com www.global-solidor.com

Craig Turner +66 (0)89 253 5607 info@rightmovepattaya.com www.rightmovepattaya.com

... if your answer is ‘yes’ to all, check out the REBA-ES brokers in this

r p

Gareth De Silva +66 (0)81 792 9486 info@benchmarkthailand.com www.benchmarkthailand.com

t n

i r

p e

d e

You can trust Advert: Zen Grafix

www.rebaes.com

D E V E LO P E R S d i re c t o r y

CSP Projects Chaiyapruk 2 over rail track on left opposite Baan Suan Neramit Projects: Coconut Grove, Coco Palms and Palm Grove T: +66 (0)38 076 285-6 E: md@csp-construction.com W: csp-construction.com Principal contact: Tom Coghlan

Heights Holdings Co Ltd Thappraya Road next to Bruno’s Italian Restaurant Projects: Park Royal I, II & III, Pattaya Heights, Club Royal, Laguna Bay I & II, Laguna Beach Resort Jomtien I & II, Laguna Heights, The Peak Towers (in co-operation with Vistas) Wong Amat Tower, Water Park Condominium and C-View M: +66 (0)85 282 6454 E: oliver@heights-holdings.com W: heights-holdings.com Principal contact: Oliver Nabarro

i r

Katalina Co Ltd 396/66 M12, Pratumnak Projects: Katalina I, II and III T & F: +66 (0)38 306 616 M: +66 (0)80 570 44 33 (English and Russian); +66 (0)81 983 00 68 (English, Dutch and French) E: rogge_tony@hotmail.com or albertdewilde@hotmail.com W: katalinaresidence.com Major Development PCL 141 Soi Thonglor 10, Sukhumvit 55, Klongton Nua, Wattana, Bangkok 10110 Local project: Reflection Jomtien Beach Sales office: Jomtien Beach Road, adjacent to Suttangrak Restaurant T: +66 (0)38 233 111 F: +66 (0)38 233 730 M: +66 (0)89 247 7158 E: sales@reflectionpattaya.com W: majordevelopment.co.th Principal contact: Chiddao Promma (Bay) Road

ing Stree

Walk

Thappraya

ach

ien

asit Road

Patt

Bua

kho

ird

Cent

ral Patta

Sou

umv

Plub Waan

it Road

Soi Nern

o Talo Soi Kha

Sukh

Noi

Sukhumvit Road

Pattaya Beach Road

ya Road

aya

Roa

Theppr

Soi Th

SUPERCENTER

Rd.

Check out tear-off map

d e

t n

Chiyapurk

DEVELOPERS DIRECTORY • Sponsored by Tulip Group • 05-06/2012 • Issues 132 and 133

Modus Group 292/1-2 Moo 5 Soi 12, Pattaya-Naklua, Naklua, Banglamung, Chonburi 20150 Project: Modus beachfront condo T: +66 (0)38 225 999 or (0)38 252 635 M: +66 (0)89-092 1333 E: info@moduspattaya.com or 888modus@gmail.com W: moduspattaya.com Principal: Pimpinan Namthep

p e

r p

Domum Holding Co Ltd 391/109 Thappraya Road. Corner of Soi 13, next to Mata Hari Restaurant Project: Meridiem Condominium T: +66 (0) 38 251 464 M: +66 (0) 8888 10311 F: +66 (0) 38 251 733 E: info@domum-holding.com W: domum-holding.com

Global Tower Group Co Ltd Banglamung Soi 16 Project: Paradise Ocean View M: +66 (0)8 222 66 077 E: info@paradiseoceanview.com W: paradiseoceanview.com

Soi Khao

CW Asset Co Ltd 212/13 North Pattaya Road Project: Bang Saray Beach Condominium T: +66 (0)38 414 405 M: +66 (0)85 272 8338 (English) or +66 (0)85 272 8228 (Thai) E: info@cwasset.com W: cwasset.com or bangsaraybeachcondo.com Principal: Ms Imorn Luekhamharn Membership: TREA

Matrix Developments 352/202-3 M12 Pratumnak Road Current projects: Art-on-the-Hill, Paradise Park, Sunset Boulevard, The View, The Vision, Amazon Residence and City Center Residence T: +66 (0)38 250 120-1 F: +66 (0)38 250 008 M: +66 (0)87 607 8880 E: info@matrix-developments.com W: matrix-developments.com Membership: AIPP

SUPERCENTER

Third

Road

Bravo Thai Lifestyle Co Ltd Projects: The Vineyard I, II & III near Lake Mabprachan M: +66 (0)89 8677 969 E: terry@siamdevelopments.com W: siamdevelopments.com Principal contact: Terrence Allen Collins

Dusitpattaya Co Ltd Soi Wat Yan off the Sukhumvit near Ban Amphur Project: Baan Dusitpattaya and Dusit Grand Condo View (Jomtien) T: +66 (0)38 343 586 F: +66 (0)38 343 585 M: +66 (0)81 0584 930 (English and Thai) M: +66 (0)868 486 704 (Russian) E: baandusit@gmail.com W: baandusitpattaya.com or domvtae.su Principal contact: Darwan Bunting (Meam)

North Pattaya

AEH Development Co Ltd 92/45 Sathorn Thani Building (Tower 2), 16th Floor, North Sathorn Road, Bangrak, Bangkok 105000 Local project: Baan Talay (Bang Saray) T: +66 (0)22 34 1000 F: +66 (0)22 34 4000 W: baantalaypattaya.com

New Nordic Occupies a large area of Pratumnak. Go down Soi 4 and look for the orange signs on the right Current projects: New Nordic Suites, New Nordic VIP Condominium I, II and III and IV are planned T: +66 (0)38 250 025 F: +66 (0)38 306 299 M: +66 (0)89 605 4114 E: sales@new-nordic.com W: new-nordic.com Nova Group Nova Park, 80/164 M9, Soi Sukrudee (Soi AR) near Jameson’s Pub Projects: Amari Residences Pattaya, The Cliff, Nova Ocean View, Novana Residence, The Palm and Nam Talay T: +66 (0)38 415 304-8 F: +66 (0)38 415 309 M: +66 (0)85 282 6454 E: info@nova-thailand.com W: nova-thailand.com Principal contacts: Rony Fineman and Keith Storey Petch Property Development Co Ltd Projects: The Cove and Prima Residence Main office: 44 Soi Sukhumvit 59, Klongton Nua, Wattana, Bangkok 10110 T: +66 (0)27 143 872 F: +66 (0)27 143 871

inside back cover

r p

p e

i r

t n

d e

D E V E LO P E R S d i re c t o r y

t n

i r

p e

Walk

Road

ing Stree

asit Road

Bua

kho

Pattaya Beach Road

ya Road

ral Patta Cent

Sukh

umv

Soi Nern

Plub Waan

it Road

SUPERCENTER

Third

Road

ird

Patt

Sukhumvit Road

North Pattaya

aya

Roa

Theppr

Soi Th

SUPERCENTER

Rd.

Check out tear-off map

Thappraya

ach

ien

Shining Light Co Ltd Project: City Garden Pattaya Soi 15, Second Road close to The Avenue T: +66 (0)38 416 690 F: +66 (0)38 724 249 E: info@citygardenpattaya.com W: citygardenpattaya.com

Tulip Group Co Ltd 88/58 Moo 4, Bowin Sub District, Siracha, Chonburi Projects: Centara Avenue Residence & Suites Pattaya (behind The Avenue), Centara Grand Residence Pattaya (Na-Jomtien) and Waterfront Suites & Residences (Bali Hai) T: +66 (0)38 959 180 F: +66 (0)38 959 508 M: +66 (0)83 718 0005 E: jason@tulipgroup.co.th W: tulipgroup.co.th Principal contacts: Kobi Elbaz and Jason Payne

Sou

Royal Oak Developments / Royal Jomtien Property Services Co Ltd Projects: Acqua Condominium, The Gallery, SP Townhomes, SP Villages I-V, The Urban, The Urban Suites and Acqua T & F: +66 (0)38 231125-6 M: +66 (0)86 323 1908 E: theurbanproperty@gmail.com W: thegallerycondo.com, theurban pattaya.com, theurban-property.com Principal contact: Thanyarak Meesuk

Chiyapurk

DEVELOPERS DIRECTORY • Sponsored by Tulip Group • 05-06/2012 • Issues 132 and 133

r p

Tudor Villas Co Ltd Showroom Pratumnak Hill, Soi 2 Projects: Tudor Court Condominium M: +66 (0)81 863 0201 E: tudorvillas@yahoo.com W: tudorcourtthailand.com

Tropical Dream Pattaya Co Ltd Showroom Pratumnak Road, Soi 6 Projects: Tropical Dream I (II coming soon) T: +66 (0)38 252 299 F: +66 (0)38 252 209 M: +66 (0)82 202 0880 E: tropicaldreampattaya@gmail.com W: tropicaldreampattaya Principals: Gery Kis and Sylvie Schäffer

o Talo

Ratanakorn Asset Co Ltd 300/6 M10 Pattaya Tai Current Projects: Life Star City Tower, Pattaya Klang Center Point, Ratanakorn Park View, Ratanakorn Villages 12 and 13, R-Con Residence, TW Garden Hill, TW Jomtien Beach Resort, TW Park View, TW Wong-Amat Beach Resort Condominium, Vela Casa. T: +66 (0)38 421 534 or +66 (0)38 421 274 M: +66 (0)81 762 6080 E: marketing-ratanakorn@live.com W: ratanakorn.com

Vistas Development Chateau Dale Complex, Jomtien Projects: The Peak Towers (solo), Park Royal II and Water Park Condominium (in co-operation with Heights Holdings) English: +66 (0)87 803 3329 Thai: +66 (0)740 8999 Russian: +66 (0)80 826 6992 E: sales@vistasdevelopment.com W: vistasdevelopment.com Principal contact: Menachim (Meny) Borenstein

d e

Noi

Raimon Land PLC 22nd Floor The Millenia Tower, Bangkok Projects: Northpoint, Zire Wong Amat and Unixx South Pattaya T: +66 (0)26 519 601 M: +66 (0)81 3717 888 E: info@raimonland.com W: raimonland.com Principal contact: Piaras Moriarty

Town & Country Property 63/10-11 Pattaya Tai Projects: The Meadows, The Residence and Whispering Palms F: +66 (0)38 374 137 Russian: +66 (0)84 873 7425 E: info@towncountryproperty.com W: towncountryproperty.com Second office: B23 The Village Shopping Centre, junction of Sukhumvit and Soi Chaiyapruk Principal: Cees Cuijpers

Soi Kha

Poompatta Co Ltd 450 M9 Nongprue, Chonburi 20150 Project: Patta Village T&F: +66 (0)38 371 555 E: info@poompattapattaya.com W: poompattapattaya.com

The Siam Oriental Trading Co Ltd 267/4 M12, Pratumnak Projects: Siam Oriental Condominium, Siam Oriental Garden, Siam Oriental Twins T: +66 (0)38 250 873 M: +66 (0)84 872 1272 E: sami.sarajarvi@gmail.com W: siamoriental.com Principal contact: Sami Sarajärvi

Soi Khao

M: +66 (0)89 991 1999 Sales office: 193/1 M5 Naklua Road T: +66 (0)38 428 284 or (0)38 428 595 E: info@ppd.co.th W: ppd.co.th Principal: Itthi Chavalittamrong

VKK Real Estate Co Ltd Sukhumvit 87 just before the rail track and the new road Projects: Porchland I, II, III (The Blue Residence), IV (The Time), V (La Santir) and VI (The Feelture) T: +66 (0)38 757 375-7 M: +66 (0)82 444 1147-8 E: theblue@porchland.com W: porchland.com VSPN Property Co Ltd 162 Moo 2, Sukhumvit Road (next to soi Banglamung 16), 500 metres past Kratingline Tri-junction Project: Seabreeze Villa Pattaya M: +66 (0)84 460 5335 E: seabreeze_villa@hotmail.com W: vspnproperty.co.th Principal: Ukarin Kerdkitsadanont Wandeegroup (Thailand) Co Ltd Thappraya Road on the left as you go up the hill towards Jomtien Project: The Touch® T: +66 (0)38 364 321 E: info@wandeegroup.com W: wandeegroup.com Principal contacts: Mario Kleff and Nittaya Wongsin Wise Power Land Co Ltd City Office Tower 1, Rama 3 in Bangkok Project: La Royale, Na-Jomtien T: +66 (0)26 826 255 E: info@wiseassetgroup.com W: wiseassetgroup.com

inside back cover

NEWSREPORT

Tulip have celebrity appeal Upscale projects attract the attention of former Miss Thailand, US basketball star and top Thai TV personality Late last month the actress, model and former Miss Thailand Khun Pannada Wongphudee (Boom) visited the luxurious show suites of Centara Grand Residence and decided to buy one of the best units. She had seen the project while it was being promoted at the recent Siam Paragon Luxury Property Showcase, and had decided to visit the showrooms. Jason Payne, vice-president of Tulip Group, said of Boom’s buy: “We are very excited that someone as well known as Khun Pannada has decided to invest in our development, she has a great eye for detail and style so we are very happy that she has decided to buy one of our most luxurious rooms.” Khun Pannada is a big supporter of Centara Hotels and Resorts and is now discussing the possibility of becoming brand ambassador for Tulip, the high profile developer. “We are in negotiations with Khun Pannada and we hope to be able to announce in the coming weeks that she will indeed become our brand ambassador,” said Jason. “This is very exciting for Tulip Group and we hope for Khun Pannada also.” l Khun Pannada was one several celebrities who visited the property showcase in Bangkok. TV’s Dr Krittika Kopngsompong was another to show interest in CGR and former LA Lakers basketball star Ike Nkwando visited the Waterfront Suites & Residences stand. Pannada Wongphudee is pictured with Tulip’s Jason Payne in the sales offices of CGR. Other visitors to the Luxury Property Showcase were former basketball star Ike Nkwando pictured left with Tulip CEO Kobi Elbaz and Thai TV celebrity Dr Kittika Kongsompong. 06/2012•Issue 133•REm•90

91•REm•Issue 133•06/2012

guestcolumnist

Craig Muldoon started in financial services in 1987 with Refuge Assurance in the UK. Some 12 years later, he decided to set up Westminster Financial Management, an Independent Financial Adviser practice in Devon. He has achieved the latest qualifications set by the UK’s Financial Services Authority and is therefore qualified to provide holistic financial planning. He also holds a mortgage advice qualification. In September 2010 he moved to Thailand to further his development and joined the Business Class Group in their Financial Services Department. He can be contacted at info@fsplatinum.com.

Structured products

‘‘ ’’

tructured products are investments with the potential to earn a higher return than those offered by conventional fixed deposits. These products have returns that can be linked to the performance of an underlying benchmark such as interest rates, equity markets, commodities, corporate credits or foreign exchange markets. For example, an S&P 500 (Standard & Poors) equity-linked note has a return linked to the performance of the S&P 500 index. The greater the return of the S&P 500 over the life of the note, the better the return on the equity-linked note. A common feature and benefit of many structured products is the protection of some – or all – of the sum invested. A capital-protected structured product protects a portion (typically 100 per cent) of your invested capital, and is an ideal way to link an investment or deposit with the performance of global financial markets with little or no capital risk. Overall, structured products can be an attractive addition to your portfolio as they give you the flexibility to tailor an investment structure to meet your specific financial objectives, taking into consideration such factors as your goals, risk tolerance and time horizon. They offer the ability to tailor an investment structure to meet your specific investment objectives. You are also able to incorporate non-standard features into these investments, including capital protection, exposure to less accessible markets and/or indices, options and swaps. Some of these additional features may carry extra risks or charges,

93•REm•Issue 133•06/2012

A common feature and benefit of many structured products is the protection of some – or all – of the sum invested.

By craig muldoon which you should discuss with your financial adviser. Who do they suit? Structured notes are innovative and flexible investment products that suit a wide range of investors. These include ... l Investors who want to diversify their portfolio with lower risk products that protect their capital and still offer the opportunity to realise higher rewards than a standard deposit account or fixed rate bond; l Those who want the chance to invest in high-risk securities they wouldn’t consider direct investment into, such as equities or commodities; l Investors who can lock away their money for the term of the particular structured note. l Those who have at least £5,000 (or currency equivalent) to invest. l Those who accept the possibility

only receiving back the initial amount invested, if the derivative element of the structured note does not perform. Tailored investment In addition to the wide range of structured notes my company offers, we can put together an individual structured product that matches your requirements. So if you want the investment portion to target a particular sector or you would prefer not to 100 per cent protect your capital for the potential of higher returns, this can also be arranged. We regularly provide this service for clients based on their needs combined with our experts’ opinions of future growth sectors. You can take out a structured note in Euro, US dollars, Sterling or other currencies for the minimum investment mentioned previously.

GROUP

Developing The Future

Luxury Condos, Hotels & Venues Since 1994 Luxury Condos, Hotels & Venues Since 1994

NOVA-THAIL AND.COM

C I T Y L O C AT I O N THB

Novana Residence, Central Pattaya | Prices From 999,000 THB

Call 038 713 338 or visit NovanaPattaya.com

GROUP