Atlantis Condo Resort in Jomtien
A good Thai friend of mine is planning to buy one or more condo's just as an investment. When he has decided to buy, he wants to let the condos to foreigners. One of the projects that caught his eye is the new Atlantis Condo Resort in Jomtien.
He asked me to accompany him to this project to hear my judgment as a foreigner. Now I'm not the best advisor for a condo or a nicer word to use condominium because I used to live in a flat and holiday in apartments long enough that I've sworn off these kinds of accommodations forever. Anyway, I wanted to be of service to him, if possible, to see through the eyes of a foreigner whether this project is acceptable.
Atlantis Condo Resort
The resort is located on Jomtien's Second Road, just past Soi Kanchana. This Soi runs from Sukhumvit Road to Beach Road of Jomtien. It consists of 5 condominium buildings (so called apartment buildings) in which approximately 1000 units of 34,5 m² are available. It is possible to create a condo of 69 m² by linking two units. All condos, in the affordable range of 1 to 4 million Baht, are fully furnished, have a kitchen unit with utensils and cutlery, all well done. Nothing to note.
The 5 apartment buildings are built around what is probably the largest swimming pool in the area. A pond of 2600 m², really beautifully designed, gives the residents a lot of swimming fun and for the children there is a complete water playground so that they will certainly enjoy themselves.
A large wooden ship has been recreated at the edge of the swimming pool, where you can enjoy a drink in the bar or "on deck". In the evening, a series of lighting ornaments enhances the atmosphere.
In the main building "Minerva" there is another restaurant and in time there will also be small shops and such.
Sounds good, doesn't it?
It all sounds very nice and yet I advised my friend not to continue with this. I have listed a number of objections:
- The location: the project is (still) in “the bush”, although it is easily accessible, but still quite a distance from the beach.
- Condos on the outside still look over a Thai landscape and although I was told that this view was permanent, I saw quite a bit of construction activity in the immediate vicinity.
- The condos on the inside give a view of the large swimming pool, which is nice for a while, but if you live there more or less permanently, it will also get boring.
- On the way to a condo, which we visited, we walked through long corridors (as I have seen in other larger condo buildings in Pattaya), which made me feel somewhat oppressed, I had the feeling of walking in a hospital or barracks.
- The project is too big for me. Think about it if all condos are occupied by 2 people, then we are talking about a community of 2000 people in a limited space.
- I have quite a few reservations about the expected necessary maintenance of the buildings and the swimming pool. Perhaps unjustly, but that will become apparent in a year or three.
- Whether it will be a success? Don't know. The salespeople told me that 90% of the units had already been sold, but frankly, that seemed questionable to me, a nice sales pitch.
Finally
But yes, who am I? In any case, I wouldn't want to live there, but their Facebook page has photos of already happy buyers. On their website there is even more information about the project, prices, payment, etc. and for an impression of the project you can find a short video below (more on YouTube):
[youtube]http://youtu.be/7TdywrMcUqk[/youtube]
My impression of what I saw on the video clip: hideous…. I would never want to live there in my life. And then the price… it starts at 1 million and you only have 35 square meters? May be cheap for Jomtien or Pattaya, but here near Hua Hin (not in the city) you have a piece of land with a house for about the same price…
In any case, I strongly advise against it!
I do agree with you and most of the condos have been sold to Russians who know how to make noise. I am very interested in your version in Hua Hin and would like to see it. If you want to give me your phone number or email, I will come and visit Hua Hin next week, because I've had it after 15 years of Pattaya. Can be reached on 0812907310 Thanks in advance
We live about 18 km south of Hua Hin. A few km before Pranburi. In the neighborhood there was a house for sale for 1,6 million: two bedrooms, piece of land, bathroom, etc. As I wrote: near Hua Hin. It's close enough for us. It is very rural, especially if you come from Pattaya.
My example was of the house we live in, which together with the land is also worth about 1,5 million and a lot bigger than 35 square meters.
Moderator: Sentence about e-mail address available through the editors removed. we do not provide e-mail addresses that you have to arrange between yourselves.
Ok, Colin, I'm fine with the editors… here's my email address: [email protected].
It looks a lot like a residential barracks.
I wouldn't want to live there in my life.
And that swimming pool sandwiched between all those tall buildings.
No do not bother.
If you have a condo with a courtyard view it can be quite nice.
But whether you can live there permanently depends a bit on you. 34 square meters is not much, especially if relationships come into play. When I still lived in Jomtien myself, I stayed in Jomtien Plaza (shining star) behind soi 1. These are similar condos. In itself it is great to stay, you have everything nearby, easy access to Pattaya, etc. Furthermore, everything is included in the rent. Wifi, TV, they have their own gym and swimming pool. The apartment was cleaned 3 times a week and you could have your laundry done across the street. You could do the cooking yourself, but there are plenty of cheap restaurants nearby.
So for a single person it is quite interesting. Especially if you also come to an age that keeping up with household, gardens, etc. becomes a bit more difficult.
Many of these types of condos are also rented out to holidaymakers for shorter periods. Through an agency. If you buy something like this as an investment, you can also use it for your own holiday trips / playground / you name it. And the rest of the year you rent it out. But you probably won't get your investment back with that. If you are looking at a condo as an investment, falang or thai, I would be against the fact that the location is quite far (if you call the Threppraya Road towards Pattaya central) and that so many condos are being built that it is overdone, I think that the rental will be disappointing because there is already quite a lot of vacancy, especially in the low season. And I think partly because of that, the rise in prices in Pattaya/Jomtien real estate is pretty close to its peak.
At the moment I rent a house with 3 rooms and 2 bathrooms in Khon Kaen for 7000 baht per month. Nice you would think, but I don't use 2 of the 3 bedrooms and a garden is just a nuisance. Do you ever think about going back to a condo, but not a studio apartment, but with separate bedrooms, etc. Do you still have the space, but no garden, etc.?
The video may impress Thai, but not me. It reminds me of suburbs in former Eastern Europe. As always with real estate, three things are most important, namely, location, location and location. In this case, it's not very nice. It is downright unfavorably located for the average Pattaya-goer. This is very annoying for both rental and possible sales. Given the large number of units, there will always be many units for sale or rent. This results in 'internal competition'. I would certainly never want this as an investment myself.
Where I personally would like to rent a condo for a month is, for example, the Centric Pattaya. This is also very noticeable due to the height and eye-catchers in a beautiful location always do. It's just not finished yet. An interesting site it is http://www.hipflat.co.th where various complexes are described, including the price per square meter, compared to the price in the whole of Pattaya, and compared to prices in the area. The projects in the area are also shown on the left. You can also see how the price has developed for each complex in recent times. Study!
http://www.hipflat.co.th/en/pattaya/condo/atlantis-condo-resort
Dear Grinco,
I think you're right, (see also the comments above) if you watch your movie and then watch the promotion movie of Atlantis, there is a world of difference. On the promotional film you see an abundance of palm trees, in reality not one. The turrets on the roof are also missing. Then I think that the buildings are very close to the pool, so that (too) little sunlight shines into the water, resulting in algae growth.
Whatever the above writers quote, there is now an abundance of construction and soon the (air) balloon will break, you can wait for it.
Greetings Nico
The video says enough, an ugly close together bad-looking construction, with also the risk of a lot of wind through openings between buildings, drafts and whirlwinds arise. Risk of noise nuisance because the facades will function as a kind of sound box near the swimming pool.
Too many buildings on a small surface and therefore a risk of too much crowding due to residential behavior in the future. All in all not a project to invest in.
Hallo,
I will not recommend it. It is mainly Russians who buy and rent there. They are very loud and like to have a drink. Have a single and a double around the corner in parklane and paradise park. These are for sale. Not happy with it. Fortunately, I have an agent who pays monthly. Get a little less but have no (head) worries and no looking back and no vacancy. Also have another one in RIMHAT corner for sale and 2 condos (next to each other) in View Talay 5c 100 meters from the beach. Something for an investor. Just call me 0874845321. All located in JOMTIEN.
Well, that money is not just for this possible investment…..I went to look at the presale, that's all
some time ago…..I hardly entered the showroom because of those Russians…..also read the opinions of the previous responses…..In my opinion it is not a good idea to invest in Thailand
to do…..My opinion…even if you have been deregistered… keep your wits about you in Holland and invest it there….for example in the Dutch stock exchange….since 2009…the price has doubled…so count your profit…
better than sitting here chewing on the coming problems with real estate…….but if you don't dare you can also lose your money on the Thai real estate market…
[email protected]
90% in Pattaya and Jomtiem are currently being bought up by Russians
I got this info myself 3 months ago…
do you want to be in a condo with 90% russians?
I would stay away from there!
Land and Houses has stopped building condos.
They say there are too many.
So as an investment in that, it seems like a case of losing money to me.
I don't think it is wise to invest in real estate as an investment at the moment. The bubble is about to burst.
I also think that a condo is relatively expensive, small and uncomfortable, not to mention the maintenance costs and service costs that can be high afterwards.
we have a beautiful large detached house for sale of 8 years old, well maintained according to European standard.
with 3 large bedrooms, all with a shower, toilet, air conditioning and more details located between Pathaya Thai and Klang
Located on Sukhumvit Road in a nice and quiet area, yet centrally located in Pathaya and not a single Russian in the Greenvile complex. slightly more expensive than a condo but much more freedom, space and accessibility.
Very ugly and look at the parking spaces as they are not made everywhere.
Ben Korat