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honkin

My wife and I are coming to Bangkok in October with a view to purchasing a Condo.

Does anyone have any experience in that area and can warn of any potential pitfalls or dangers to watch out for?

We are not looking for anything "off the plan" as I've seen too many buildings in Bangkok that don't get completed. Nor are we worried about being on the river.

A preowned and preloved Condo will do us just fine.

Is that also a useful resource for locating Condos for sale?

Cheers

The_Dude

What area are you interested in? Do you work in LOS what are your needs? And, what is your $ range?

Mr Earl

I've been told condo prices in Bangkok are pretty steep. They range in the 150K+ per square meter in a good area.

Butterfly

Price range vary from 40k per sq.m to 150k per sq.m on Sukhumvit.

A nice 100 sq.m condo in a good location (On Nut or Ekkamai Sukhumvit) would be around 5million THB (50k per sq.m)

Lower Sukhumvit is now 100k min. per sq.m

honkin

As far as area, are fairly relaxed, but we want it to be not too far out and hopefully not far from Skytrain access. You know, not as far out as Don Muang. We love Siam Square, as we have stayed there on many occasions, but Silom and many areas would also suit. Just so long as we have either the MRT or Skytrain (or both) nearby.

I mean Sukhumvit would be great, but perhaps more expensive than other areas. We want a 2 bedroom unit and would love a balcony.

Price range, a limit of around 10 million baht, I would say.

Not being a regular at Teak Door, I am not sure what LOS is. Is it land of smiles? An educated guess.

No, I don't work there, but that would be an option. We have just been over about 10 times now and have friends in Isaan, Bangkok, Songkhla, Kan and Hua Hin. It's about time we looked at spending more time in Thailand.

Cheers

thaibook

Why not a place like Muang Thong Thani? Its a fair bit cheaper than in middle of BKK and not too far away (close in relation to the highway). Best yet, you can rent it out when you are not in Thailand as that is a place in demand due to the conventions that take place there....just an idea if you want a condo...

honkin

I tell you what some of you, if you want to vent anger about something or another that irks you, start your own thread.

I simply asked of any pitfalls to be aware of when buying in Bangkok. There have been a couple of well-intentioned posts, but predominantly it's people either telling me to buy somewhere else or just blowing steam about whatever. Frankly, if there is a personal issue between some of you, sort it out, but don't include it in other people's threads.

If I have posted in an inappropriate forum, please let me know and I will apologise and post elsewhere.

I just figured that since this particular forum is titled "Bangkok Real Estate and Rentals", that I may find useful information or opinions on just that topic.

Other than venting one's spleen, is there any person at all that has anything useful which may help a potential buyer avoid dangers associated with purchasing a condo in Bangkok?

We certainly don't wish to spend 10 million baht, but have just set that as an upper limit. We would love to pick something decent up for less.

Bangkok is a great base from which to head out in any direction and I for one have no issues living there.

Thanks in advance, people.

thaibook

Nor do I. I totally agree with you on the previous posts and was considering saying something as well - take it somewhere else. I just recommended MTT because that is the only other place I have stayed and had a place. I am not too sure about places in BKK centre, sorry!

Spin

Agreed.

Back on topic..

First would be to find a reputable lawyer who can advise you, there are plenty of ways to get shafted buying property here. One example i heard about was agents offering a condo for sale and taking a deposit even though the condo had sold already or was not available anyway. They then try to get you to buy something else off thier books instead of refunding the deposit.

Location is most important, should you ever need to sell, you better have done your homework on location because you might take a badly located property to your grave with you.

Ownership, look for condos that have a yellow registration book that entitles foreign ownership.

watterinja

You may want to wait a while, or perhaps rent an apartment in a similar location, or even the building you're interested in - before committing to a purchase. Some blocks are decent, & others are not - it all depends what you consider to be 'decent'. Don't be in a rush.

That way, you'll be able to make an informed purchase.

In addition, the politics of the day, may, or may not, have a bearing on your decision - but, it will be a factor in many others'.

__________________
"Education is the ability to perceive the hidden connections between phenomena."
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"One component of what we call "mathematical genius" is the ability to recognize a simple phenomenon masquerading as an apparently complicated phenomenon."
- Chris Hillman, 2007

The_Dude

You may want to rent first and see what areas may suit your needs prior to investing a sizeable chunk of change. Becouse, if you do purchase there maybe reasons why it was sold in the first place . I would always check to see how long the property is on the market. And secondly see what types of issues the other owners complain about ie., security, garbage,parking,etc.

The Dude

Whiteshiva

I have used this agent for rentals in the past, and she's a pretty decent lady. She does sales as well, and her website has a list of properties for rent/sale. At least it may give you an idea of prices....

EveHouse real estate agency Bangkok Thailand, lively realtors wand search condos, houses, land for rent and sale

However, I would suggest you rent first, and then if you like the apartment/area, then consider buying. Some of the places I lived at when I was renting in Bangkok seemed nice at first, but it takes time to get to know an area.

Good luck!

WS

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honkin

Cheers WhiteShiva for that link. Am just sifting through her list at present.
As far as finance and legals, has anybody any experience with arranging finance in Thailand or any suggestions as to a reputable legal firm to use for the contracts?
Still trying to locate a suitable area as well. We would want a condo block that has some facilities as well. You know, decent swimming pool area, possibly a gym - that sort of thing.

ChiangMai noon

Here's one i looked at for ChiangMai.
I'm sure it applies to all of Thailand

Finance for condo buying in Chiangmai

shantly

I think you are right not to buy off plan - any potential gain is generally wiped out by the deceptions of the sales staff, poor finishings, size discrepancies etc.

Your main price issue will be location - this is what will (not surprisingly) affect the price the most. The points I would look for would be
1) Is the seller the owner? Get this verified by a real lawyer you can trust.
2.) Do you fall in the foreign ownership percentage of the building?
3.) Who manages the building, and what are the service charges per sqm / month? Do not be attracted to a low monthly rate: this means a) the jusristic person has never managed to get enough owners together to vote for a needed increase or b) the owners do not want to pay and the building will be suffering. THB10/20/30 is probably too low. If the bulding has been around a while and they are asking THB40 or more, you are probably OK.
4.) get a copy of the audited acconts of the juristic person. Is it paying its way, and are the co-owners paying theirs?
5.) What is security like? Poor security = problems, g'teed!
6.) What interior work needs doing? This is often a major headache.

Then consider where you think (or know) your friends live...nobody wants to travel from Muang Thong Thani to Thonburi...ande where you will shop - certaqin things are only avialable in certain locations. And English language capabilities vary a lot from area to area.

To get price ideas, there are sites suchas Hamptons or CBRE or many others in which you can search by location and property.

Just some thoughts - enjoy the hunt and the ownership!

BangkapiBoy

I don't see any pitfalls with buying a condo in Bangkok, as long as you buy right. Look at the location you want, and then search from there. It's great to get on foot and find a deal. Go visit the buildings you're interested in and inquire around there for deals.