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  1. #1
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    Townhouse renovation

    This is NOT my project, but I came across a VERY slick looking ad for refurbished town homes in downtown Chiang Mai. Have a look at the website first, and click around to see all the (professionally done) pictures. (Click the ' + ' signs in teh bottom part of the page.

    Website : Baan Charoen | Chiang Mai




    Now get this, it looks nice right..? The asking price is a cool 7.9 million baht for a townhouse.. Okay they're nicely done, a bit taller than the usual and in a good location downtown near the river and the night bazar. They're nice, but are they 8-million-baht-nice?

    So I went to take a look. I'm not detracting to the work they did, but on the site it looks like it's a single block:



    That's however not the case; there are a couple units in there that they apparently don't own, so those are still un-renovated. That also gives us a look of what the property looked like 'before' and 'after'. The 'before' is definitely quite mundane. Also, while the view to the back is apparently nice, the view to the front.. not so much. (Last pic)

    The block:



    Old, unrenovated unit:




    Mix of old and new:



    After renovation:



    But.. the view towards the front, across the soi:



    So.. it's a bit of a mixed bag. I really like the design, especially the interior design. But even given the good location I think it'll be an up-hill effort to bag 8 million baht for a unit. The location is nice, both centrally located and in a somewhat up-market area near Alliance Fraincaise, The Chedi and the Ping Nakhara hotel. Google Streetview Link: Google
    Last edited by WhiteLotusLane; 30-04-2012 at 01:47 PM.

  2. #2
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    Airportwo's Avatar
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    Nicely done, for half the price be worth considering!

  3. #3
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    Heh, yes that's exactly what I had in mind price wise. 8 mil is a bit of a pipe dream I would say for a town house; most people with that sort of money available would build a mansion just a bit out of town. But maybe they're expecting to appreciate to that amount a decade or so from now. (In that case they should be renting them out though, while waiting for property prices to go up. Perhaps at 25K a month or so, or a bit more if furnished.)

  4. #4
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    Quote Originally Posted by WhiteLotusLane
    most people with that sort of money available would build a mansion just a bit out of town.
    what if they liked living in the town?

  5. #5
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    Quote Originally Posted by DrAndy View Post
    Quote Originally Posted by WhiteLotusLane
    most people with that sort of money available would build a mansion just a bit out of town.
    what if they liked living in the town?
    Then they might consider the above offering. Or buy something that needs fixing up, then fix it up. Or buy land, like you did, and build something really nice, in town and still a bit under 8 million. (right?)

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    ^ not any more; a similar bit of land to ours a few doors down is going for 10 million!

    but the townhouse you show is over-priced, quite a small footprint and the original is hardly inspiring

  7. #7
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    Quote Originally Posted by DrAndy View Post
    ^ not any more; a similar bit of land to ours a few doors down is going for 10 million!

    but the townhouse you show is over-priced, quite a small footprint and the original is hardly inspiring
    Agreed. Prices vary wildly though; I still see some small detached houses for sale in the old town for around 3 million. (Small footprint, probably under 50 sq. wa, but a proper detached house.)

  8. #8
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    Land and property prices in Thailand are a joke. It's a backward place with poor services and build quality.

  9. #9
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    ^ I agree with dog.

  10. #10
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    ^^^ Me also

  11. #11
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    Quote Originally Posted by Marmite the Dog View Post
    Land and property prices in Thailand are a joke. It's a backward place with poor services and build quality.

    that is immaterial

    supply and demand is what drives the prices

    mind you, the high prices are only in areas where there is high demand; if you want cheap land there is plenty around elsewhere

  12. #12
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    Quote Originally Posted by DrAndy
    supply and demand is what drives the prices
    In a real country, yes. In Thailand greed & stupidity drive the prices.

  13. #13
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    so, same as every other country too

  14. #14
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    Quote Originally Posted by DrAndy View Post
    so, same as every other country too

    DrAndy Marmite the Guru on every thing ( the same as socal )

  15. #15
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    nobody can match Socal

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