An exciting, if depressing, day in the history of Thailand. PAD demonstrators on the streets of Bangkok, occupying television stations, blocking roads into Bangkok and generally causing havoc. Their objective is the overthrow of the government, although what they offer instead is not clear. All we do know is that, whoever is in power will be looting the coffers and the ordinary Thai in the countryside will be ignored. There is the chance of another coup, which will be my chance to rush up to Bangkok and take some photos of tanks, something I neglected to do last time.
Probably not the best of times to recommend property investment, but I did check out a couple of projects today. The first has been featured before. It’s a development from the same company that is making such amazing progress with the Ocean 1 tower.
This was View Talay Residence 5 some two and half months ago:
And this was the site this morning:
It’s changed colour! Yes, the four or five workers on the site have been busy with pots of paint for the last couple of months and some of the building is now painted. Unfortunately they do not appear to have made any progress on constructing the interior of the condo which looks the same as it did nine months ago.
I went into the sales office and enquired about availability. The sales girl showed me a chart which indicated they had sold eight units. I observed that they had not sold very many. She explained that the chart was out of date so I selected several other units at random and they were all still available. I don’t think there is any problem with choice.
The construction is going very slowly, I observed.
Problems with the contractor
They went bankrupt
Yes
But you haven’t replaced them?
No
So when will the building be finished?
February
2010?
No, next year
Tell you what, I will buy a unit. If the building is finished by February 2009 I will give you an extra million baht. If it is not finished, you give me a million baht discount. Deal?
No. But look at the lovely view from the higher floors
Which will disappear if someone builds a condo on the prime piece of land lying empty right in front of this building
True
I think I gave the impression I was not interested. The truth was that my interest had already been diverted to another development just up the road.
The Marraka Residence attracts because it is being built to “high European standards.” To be honest, I have not been to any European country which offers the same standard of breeze block construction.
It really is most appealing and I urge you to slap down a deposit immediately.
Comments 🔗
2008-08-26| The Ghost saysFunny. I’d actually be really interested in reading a sequel. I think you shold pop into a bunch of offices and check how many units have been sold. Maybe start with Ocean 1?
2008-08-27| Jock saysWow how the View Talay empire has grown. I remember renting a unit in View Talay 1 some 10 years ago .. let’s just say it was functional.
The shell of View Talay 2 was just being built when I left ….
Now they have 5 of these monstrosities …. just a good job they’re not on Beach Road.
Probably not the greatest investment unless you’re looking for a cheap sh*g palace.
2008-08-27| Spike saysNot the same company, but almost the same name. The View Talay boxes (and they do have one going up on beach road now!) are one company, and then there are the View Talay Residences which are another company, the same one that is not yet building Ocean 1. The Residences are actually rather nice, well decorated and equipped. But the rate of construction is worryingly slow, or in the case of Ocean 1, non-existent. The big box company is currently being taken to court over View Talay 7 in Jomtien, it is alleged that it is being built closer to the sea than regulations allow. It may have to be pulled down.