waza Posted October 3, 2007 Report Share Posted October 3, 2007 Hi I was just wondering if anyone can give some advice reguardings purchasing a apartment or condo in Bangkok. I am a simpleman so a one bedroom apartment style sounds goo to me. , so what are the bargain areas to purchase? What are ther pitfalls? Do you think the market price will rise or fall? :shock: Link to comment Share on other sites More sharing options...
frankenburner2 Posted October 3, 2007 Report Share Posted October 3, 2007 jesus.... How long is a piece of string? Link to comment Share on other sites More sharing options...
waza Posted October 3, 2007 Author Report Share Posted October 3, 2007 Well, Frankenburner, that seems to be your favourite comment. It is a subjective comment, but utilised in a manner to ridicule and belittle the subject matter and bignote yourself. A piece of string is as long as it needs to be to make it usefull. So make yourself usefull and provide a constructive comment. Link to comment Share on other sites More sharing options...
beej Posted October 3, 2007 Report Share Posted October 3, 2007 You sound like your on your way to O Nut mate! Link to comment Share on other sites More sharing options...
waza Posted October 3, 2007 Author Report Share Posted October 3, 2007 You sound like your on your way to O Nut mate! Hmmm O nut has BTS right?? Link to comment Share on other sites More sharing options...
waza Posted October 3, 2007 Author Report Share Posted October 3, 2007 You sound like your on your way to O Nut mate! Hmmm O nut has BTS right?? Are we talking about Khun Nut here or On Nut I was thinking On Nut!,.... But Riverside is reasonable but no BTS or MRT Link to comment Share on other sites More sharing options...
frankenburner2 Posted October 3, 2007 Report Share Posted October 3, 2007 Well, Frankenburner, that seems to be your favourite comment. It is a subjective comment, but utilised in a manner to ridicule and belittle the subject matter and bignote yourself. A piece of string is as long as it needs to be to make it usefull. So make yourself usefull and provide a constructive comment. get a grip....if you put half as much energy into doing a little research on your own as you do in spewing out verbal diarrhea, you'd be half way there already! My constructive advice is spend some time on the net doing your own research rather than expecting a group of random strangers to do it for you. How much research? As much as you need to make it useful. Link to comment Share on other sites More sharing options...
hbkbkk Posted October 3, 2007 Report Share Posted October 3, 2007 back to the condo matter. don't really expect the price to go up or down much. if you are buying, you could save yourself rent or you can rent out for a return of about 6 percent. Link to comment Share on other sites More sharing options...
waza Posted October 3, 2007 Author Report Share Posted October 3, 2007 Well, Frankenburner, that seems to be your favourite comment. It is a subjective comment, but utilised in a manner to ridicule and belittle the subject matter and bignote yourself. A piece of string is as long as it needs to be to make it usefull. So make yourself usefull and provide a constructive comment. get a grip....if you put half as much energy into doing a little research on your own as you do in spewing out verbal diarrhea, you'd be half way there already! s much as you need to make it useful. My constructive advice is spend some time on the net doing your own research rather than expecting a group of random strangers to do it for you. How much research? Ah thank you, that was much more construive and usefull advice. I have done a lot of web research, to ask for advice from people on the ground with expirience seems a logical adjunct to this process. Link to comment Share on other sites More sharing options...
waza Posted October 3, 2007 Author Report Share Posted October 3, 2007 back to the condo matter.don't really expect the price to go up or down much. if you are buying, you could save yourself rent or you can rent out for a return of about 6 percent. Thanks hbkbkk Yes figure buying is a better option to renting in the long term. A return of 6% would cover costs. I believe the morguage interest rates a low in BKK. Also, I believe that Thailand doesnt have a capital gains tax, so its sound I viable proposition. But I am not sure if its a buyers or seller market at the moment Link to comment Share on other sites More sharing options...
frankenburner2 Posted October 3, 2007 Report Share Posted October 3, 2007 Well, Frankenburner, that seems to be your favourite comment. It is a subjective comment, but utilised in a manner to ridicule and belittle the subject matter and bignote yourself. A piece of string is as long as it needs to be to make it usefull. So make yourself usefull and provide a constructive comment. get a grip....if you put half as much energy into doing a little research on your own as you do in spewing out verbal diarrhea, you'd be half way there already! s much as you need to make it useful. My constructive advice is spend some time on the net doing your own research rather than expecting a group of random strangers to do it for you. How much research? Ah thank you, that was much more construive and usefull advice. I have done a lot of web research, to ask for advice from people on the ground with expirience seems a logical adjunct to this process. you've done "a lot of web research" and yet you don't know if it's a buyers or sellers market, you don't know what % return to expect, you don't know the mortgage rates, you're unclear about capital gains tax situation??? yeah...sounds like pretty thorough research..... I don't mean to harp on...but if you were serious about any of this, you would ACTUALLY do the research yourself. Seeking advice on how to spend millions of baht in real estate in bangkok isn't something I would trust to a bunch of TFer's Link to comment Share on other sites More sharing options...
waza Posted October 3, 2007 Author Report Share Posted October 3, 2007 Well, Frankenburner, that seems to be your favourite comment. It is a subjective comment, but utilised in a manner to ridicule and belittle the subject matter and bignote yourself. A piece of string is as long as it needs to be to make it usefull. So make yourself usefull and provide a constructive comment. get a grip....if you put half as much energy into doing a little research on your own as you do in spewing out verbal diarrhea, you'd be half way there already! s much as you need to make it useful. My constructive advice is spend some time on the net doing your own research rather than expecting a group of random strangers to do it for you. How much research? Ah thank you, that was much more construive and usefull advice. I have done a lot of web research, to ask for advice from people on the ground with expirience seems a logical adjunct to this process. you've done "a lot of web research" and yet you don't know if it's a buyers or sellers market, you don't know what % return to expect, you don't know the mortgage rates, you're unclear about capital gains tax situation??? yeah...sounds like pretty thorough research..... I don't mean to harp on...but if you were serious about any of this, you would ACTUALLY do the research yourself. Seeking advice on how to spend millions of baht in real estate in bangkok isn't something I would trust to a bunch of TFer's Yes I do think you mean to harp on......... My research indicates the market is stangnant, I believe the prices will fall short term. Thailand tends to follow the US trends, and the US market is obvious depressed following the sub prime market collapse. You can get better returns for low income housing, around 10%, than for the up market housing. But which would you rather live in? It may be better to take a morguage out in Thailand which has low interest rates compared to Australia, leave your cash in a higer interest accound and bank the difference. Link to comment Share on other sites More sharing options...
Guest Tattoodude Posted October 3, 2007 Report Share Posted October 3, 2007 Seeking advice on how to spend millions of baht in real estate in bangkok isn't something I would trust to a bunch of TFer's Why not? Beer and ho's no? Link to comment Share on other sites More sharing options...
frankenburner2 Posted October 3, 2007 Report Share Posted October 3, 2007 Well, Frankenburner, that seems to be your favourite comment. It is a subjective comment, but utilised in a manner to ridicule and belittle the subject matter and bignote yourself. A piece of string is as long as it needs to be to make it usefull. So make yourself usefull and provide a constructive comment. get a grip....if you put half as much energy into doing a little research on your own as you do in spewing out verbal diarrhea, you'd be half way there already! s much as you need to make it useful. My constructive advice is spend some time on the net doing your own research rather than expecting a group of random strangers to do it for you. How much research? Ah thank you, that was much more construive and usefull advice. I have done a lot of web research, to ask for advice from people on the ground with expirience seems a logical adjunct to this process. you've done "a lot of web research" and yet you don't know if it's a buyers or sellers market, you don't know what % return to expect, you don't know the mortgage rates, you're unclear about capital gains tax situation??? yeah...sounds like pretty thorough research..... I don't mean to harp on...but if you were serious about any of this, you would ACTUALLY do the research yourself. Seeking advice on how to spend millions of baht in real estate in bangkok isn't something I would trust to a bunch of TFer's Yes I do think you mean to harp on......... My research indicates the market is stangnant, I believe the prices will fall short term. Thailand tends to follow the US trends, and the US market is obvious depressed following the sub prime market collapse. You can get better returns for low income housing, around 10%, than for the up market housing. But which would you rather live in? It may be better to take a morguage out in Thailand which has low interest rates compared to Australia, leave your cash in a higer interest accound and bank the difference. ermmm....and now you want advice from random strangers on TF? If you already knew how long the piece of string was, why bother asking? Or is this an exercise in "look how smart I am?" Link to comment Share on other sites More sharing options...
frankenburner2 Posted October 3, 2007 Report Share Posted October 3, 2007 Seeking advice on how to spend millions of baht in real estate in bangkok isn't something I would trust to a bunch of TFer's Why not? Beer and ho's no? see, now beers and ho's IS something we can advise on....but hopefully won't cost you millions of baht! Link to comment Share on other sites More sharing options...
Anny Posted October 3, 2007 Report Share Posted October 3, 2007 I am buying one also. Search so many website and found that the best area for me is at Ratchada if 1 bed room with one bathroom is around 2 million++ baht something if you want to have a condo around sukumvit will cost more about 3 - 5 million baht soo expensive lol if you want any advise about this you can visit my friend website you can phone or email them ask for their opinion. They are an expert LOL. http://www.homespacethailand.com/ good luck Link to comment Share on other sites More sharing options...
robbie36 Posted October 3, 2007 Report Share Posted October 3, 2007 Yes I do think you mean to harp on......... My research indicates the market is stangnant, I believe the prices will fall short term. Thailand tends to follow the US trends, and the US market is obvious depressed following the sub prime market collapse. You can get better returns for low income housing, around 10%, than for the up market housing. But which would you rather live in? It may be better to take a morguage out in Thailand which has low interest rates compared to Australia, leave your cash in a higer interest accound and bank the difference. BBL, UOB and SCB are offering mortgages to farangs who buy condos at the moment but the terms are nothing like as attractive as for the locals. You are looking at MLR while the mortgage rate is nearer MLR-1.5%. And of course you need a work permit. But I'm sure you got that covered.... Link to comment Share on other sites More sharing options...
condotown Posted October 3, 2007 Report Share Posted October 3, 2007 Over the past weekend at Queen Sirikit Center there was a second hand property convention. I saw condos for sale as cheaply as 120,000 for those of you who want to own something in Thailand. The only drawback to the majority of foreigners who went to see all the great bargains is that it was exclusively in Thai. If you are literate in Thai (read and write) not just speak bar Thai, you will have a distinct advantage when searching for and purchasing a condo. Link to comment Share on other sites More sharing options...
beej Posted October 3, 2007 Report Share Posted October 3, 2007 I'll be picking a new condo up some time this year, looking for Sathorn/Chidlom area if anyone knows of any. Link to comment Share on other sites More sharing options...
waza Posted October 3, 2007 Author Report Share Posted October 3, 2007 Thanks Condotown, Robbie and Anny for your comments. Yes I agree local knowledge is a great advantage. Link to comment Share on other sites More sharing options...
waza Posted October 3, 2007 Author Report Share Posted October 3, 2007 Hi I was just wondering if anyone can give some advice reguardings purchasing a apartment or condo in Bangkok. I am a simpleman so a one bedroom apartment style sounds goo to me. , so what are the bargain areas to purchase? What are ther pitfalls? Do you think the market price will rise or fall? :shock: The price is going to fall. The US is the central market of the world and all other world economies tend to follow the rises and falls in the US Markets. Of course there is some lag, but when you are looking at the condo market in Bangkok you have to understand that a big segment of this market is Europeans. So when the US economy goes down and it sends the European economy into the toilet, because not as many Americans are buying BMWs, then that is going to really effect property sales here. So this part of the market will go away and many condos will be liquidated in the coming years when Europe follows the US into a recession. This will also be compounded by local effects and layoffs associated with a fall in demand in both the EU and in the US. My suggestion is wait a little while. I know in some of the frothier markets like Pattaya they have already seen some decrease in the price of condos there of course your real estate types will swear on a stack of bibles that they are getting positive appreciation, but I just bought a 42 sqm condo on soi one for about 60 % of the original purchase price. I would wait and during that time explore the city, look at trafic patterns and seek out different areas to live. Look at prices and see what normal prices are for the area. Look at development and see how things are changing in that area. Sky train is also a good thing, the close you are to sky train the easier it is to get around, but dont forget about some of the condos accross the river. I know that trafic sucks going across Thaksin bridge, but many of these condos have a ferry service there at the condo and they will take you to the Thaksin station in a few minutes. I actually have a place out close to the Prakanong station and it is nice out there. I love the night markets and the food from street vendors, plus it is close to BTS, so it is a good place for me. Onnut is also a nice place, it is not right down town, but it is quiet and once again sky train gives you easy access to most of the good parts of the city. Also at Onnut you have a Tesco Lotus right there, so it is kind of convenient. Take some time and do some research about the city. I think that you have a gf or fiance on here too, she should know the city as well as any, so involve her in your decision. Then once you find a area to buy in, then start looking at that local market, because each area is like a different market. The final bit of advice I would have for you, if you are looking for a new build condo. There are a lot of people that are looking to sell you a condo at well above market prices. If they are advertising in English, you know that you need to be weary of them, because they are looking for dumb farangs who have not done their research. Good luck with your search and I will be more than happy to help you as much as I can. Hi, Yes I think your right. The reason I made this forum is because 90% of the web information is geared towards the dumb farrang and wanted intellegent advice like yours, thanks Link to comment Share on other sites More sharing options...
robbie36 Posted October 3, 2007 Report Share Posted October 3, 2007 yup now he is well informed... Link to comment Share on other sites More sharing options...
Guest Tattoodude Posted October 3, 2007 Report Share Posted October 3, 2007 Ownership issues means that condo's are already inflated in price as they are the only real estate geared to farangs. It will crash in my opinion sooner or later, renting in my opinion is the better option, at present there is big money to be made if you can get in and get out. Point in case a friend of mine who has just made big money on a condo he bought for 26mill and sold for 36mill nice days work, but then thats what he does..... speculate. Pattaya is interesting due to the amount of farangs buying off plan, they come to the LOS with a view to living out their life, pay the deposit and then find the realities of life too much here, bargains to be had sure enough. If it's for an investment then land is the way forward. But in order to do that your Thai company needs to be legit, totally legit for the long term, the days of the shelf company are limited the Foreign Business Act although shelved for now will not go away and that will put paid to the loopholes in time. Buying a condo and just sitting on it for many years to come and usie it as a base or crash pad is a different matter. But as the OP's question suggests he is speculating then there are far safer markets than BKK. As for finance, another friend just went to BBL and asked for a 5 million baht loan, no problem just deposit 5 million as security and we will lend you 5 million. So lets get this straight, I give you 5 mill, you lend it back to me and I pay you interest. SOLD. We just had the same conversation re company credit cards, deposit the security and thats your limit, whats the point? I would love to hear the mortgage terms. * My company is seven years old solvent, doing well, has legitimate Thai shareholders but farang directors, if your farang then you better have cash it's that simple* Link to comment Share on other sites More sharing options...
Guest Tattoodude Posted October 3, 2007 Report Share Posted October 3, 2007 Or gives cash to your wife/ gf/ fiance to buy it for you ...get the attorney to write down the contract that you will be renting this place for a life time from the landloard (her) 8) just incase she wanna throw you out in the next 2 years, oh and that money should have the loan contract as well would that help ? my compassion to every Farang nice guys in Thailand Thats the worst advice possible. There was a case of a German guy in Pattaya only recently who did just that, they blew his head off in the street. A NZ guy did the same about two years ago, on the way home from the gym a motorbike pulled up and they shot him in the head. Do not under any circumstances do the 99 year lease with anyone, you have the property for the period of your life, geddit? Link to comment Share on other sites More sharing options...
waza Posted October 4, 2007 Author Report Share Posted October 4, 2007 Thanks guy for a great response, you made some excellent points that need carefull consideration. Link to comment Share on other sites More sharing options...
Recommended Posts
Please sign in to comment
You will be able to leave a comment after signing in
Sign In Now