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Luxury Housing Auction

image dsc20653.jpgI have to give it to the developer of this Jomtien (just outside Pattaya) housing estate of about 20 homes. What a great idea, sell the houses at a no reserve auction. Of the twenty estates to be auctioned off on the 19th of December, 13 will be sold to the highest bidder with no reserve. Sure there may be a couple of shills sprinkled in the crowd to prevent these multi million dollar estates from being sold for next to nothing (in case there is a bad turn out), but I’m sure there will be a crowd and the price will be determined by active bidders and not shills.

I’ve decided to write up my notes on the auction as I indeed will be there bidding and buying should the price be right.

image dsc20654.jpgSo far only 4 out of the eventual 21 houses have been built. I’d heard a lot of press coverage and thought I knew where the site was. I was at the corner of Thepasit road and Thappraya road and realized the auction wasn’t where I thought it was. I stopped to ask at 3 close real estate offices and talked to 3 Thai staff workers, none of which have ever heard of an auction like this. I don’t know if this is just the typical ‘I don’t know anything out side of my job’ response, or if word really hasn’t gotten out.

The first thing that kind of annoyed me when viewing the residences is that I was immediately told no photos allowed. I can’t understand this no photo policy with regards to real estate. I mean what is there to hide?

The houses are breathtaking to look at. The models are all one story run in size from 121 sq meters (house only) to well over 300 square meters. All of the models have pools. Several of the designs feature a basement which has a view glass to the underside of the swimming pool. The designs are spacious with open European kitchen. There is a ongoing maintenance fee which is based on 27 baht per sq wah of land size, effectively putting the fee at about 36,000 + per year for the smallest plot size, up to about 100,000 for the biggest size.

food for thought

These are breathtaking to look at, and seem to be well constructed houses. The downside has far as I see it with mega luxury houses like this is practicality.

note; only my opinion The houses don’t have window or door screens, and it looks like it would be difficult to install them on the type of aluminum windows and doors. Some of the doors opened in an accordion style and others swung open, meaning installation of screens would be difficult.

The open European kitchen concept is common among luxury developments, but it is one feature I sure don’t like. For Thai cooking style, I’ll stick with a kitchen somewhere in the house that has a door which can be closed, or a combination indoor/outdoor kitchen is even better.

The concept of central air, which these houses have, sounds nice. But I wonder about energy efficiency. The houses didn’t strike me as being energy efficient. If you’re going for the sealed temperature controlled house you might opt for something like this energy efficient sealed house

The basement with glass to the pool is a nice touch which hasn’t been done in Thailand before. I prefer not to be on the bleeding edge of development in case of maintenance issues, although admittedly it is an attractive addition.

positives

As stated before the houses are real impressive and host top quality materials which are listed in the documentation given with the tour. It does look like attention to ever detail was given in the design process to ensure a extremely attractive development.

I of course like the way these properties are being marketed. Aside from anything else it will give everyone present at the auction an idea of how hot the real estate market in the Pattaya/Jomtien area currently is.

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