A hard tale. Personally i think only 30 % of all pre-owned houses sold, are sold via agents. Being one this gives a bit of a bleak overall income model.
So, some of the larger agencies, and visionary individuals, will also compete with the ordinary buyer looking for a home in the secondary market, for good deals.
We (as some others) in general; buy – strip – renovate – sell. Making this needed profit on the sideline. I see now larger agencies are pushing it towards small projects with 8-10 villas.
Back to the subject, who are those other 70% ?
- Cash Rich neighbors; As most houses in Pattaya are within so called gated communities, neighbors will evaluate the value and will buy cash those cheaper properties who come on the market. You can see often that 2 or 3 persons own 3 or more properties within a housing estate.
As most houses in Pattaya are paid in cash, no bank loans, its easy to transfer a property, its just 1 day work, and not really any other party like a notary or lawyer is needed, just buyer and seller.
2. Leasing companies; Often you see that homeowners take out loans from leasing companies, rather than the normal Banks. (banks don’t like to deal with home loans, and often only give loans in brand new housing estates.) So when the Leasing company is pushing it, they will take over the property and kick the owner out, always on a friendly way. (leasing company is the nice word for loanshark) Our office has dealt with them many times. They dont want the property. They just want the money. !
3. Family member; not many instances but sometimes this happens.
As Banks are easier to give loans on brand new offplan projects most buyers go this route.
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