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  1. #1
    Thailand Expat

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    building flats or appartments in chiangmai...?

    hi there gentleman

    I might be acquiring a portion of land about 150 talangwa in size, it is near amenities such as schools, markets, and shops. It is itself about 6 km north of Chiangmai city center and im just wondering if anyone has any insight into building blocks of appartments or flats with the intention of have monthly rentee's?

    I dont mind if its the concrete monstorisites ive seen i want to make it a pure business adventure, though if anyone has any other materials for building such buildings i would very much like to hear your opinion!

    I expect it to be 3 stories high and stretching the whole length which is about 39 meters in depth to maximise volume for space.

    Can anyone reccomened issues or problems with this type of business and also the best way about going about something like this, as any info will be greatly appreciated!

    cheers for the heads up!
    im hot its so hot today.......milk was a bad choice!

  2. #2
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    klongmaster's Avatar
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    Quote Originally Posted by benlovesnuk
    I might be acquiring a portion of land
    Bennie Boy: first things first...YOU will not be acquiring any land...maybe nuk will be 'acquiring' it with your money and will be keeping it when 'nukdoesn'tlovebenanymore'...

  3. #3
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    ChiangMai noon's Avatar
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    harsh advice klongy.

    sure he is more than aware of the land buying restrictions.

    150 talang wa isn't very big though.

    how many apartments do you plan to build on it?

  4. #4
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    klongmaster you bore, you're not at all relevant in saying that which is so blisteringly obvious on this forum!

    I have acquired land with my wife she is the owner and its her money you dawk!

    Anyway gents back to something more in line with the thread.......

  5. #5
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    hi chiangmai, about 8-10 rooms only a small business with shop internet and washing machine place. your a typical ranch in thailand!

    its not big it is just a small venture to see the outcome?

    what would you recommend ?

  6. #6
    Thailand Expat Jesus Jones's Avatar
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    Personally i think there will be a demand for affordable apartments soon.

  7. #7
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    ChiangMai noon's Avatar
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    ^^
    business wise, i have no idea, but i'd certainly recommend my building team if you decide to go ahead with this.

    i would love to find them more work as they are local village blokes and i was very happy with the job they did on my house.

  8. #8
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    I think we are going to provide affordable, but just slightly different looking flats/appartments; small, simple and see where it takes us?

    So i hope your right jesus!

  9. #9
    punk douche bag
    ChiangMai noon's Avatar
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    Quote Originally Posted by Jesus Jones
    i think there will be a demand for affordable apartments soon.
    there's a lot of apartment blocks in the 3,000 a month range in chiangmai already.

    quite sure they are mostly a long way from capacity.

  10. #10
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    yeah well im really up for taking on anyone with good time, good fun and good skills mentality! so im going to have to be in contact maybe in the forth coming months chiangmai N. I'll take a look at your thread to check out their work again! CHEERS!

  11. #11
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    Quote Originally Posted by benlovesnuk
    klongmaster you bore, you're not at all relevant in saying that which is so blisteringly obvious on this forum! I have acquired land with my wife she is the owner and its her money you dawk!
    I'm neither a bore nor a dawk...you stated something which is not possible and could be misleading to folks who are new to this forum or to Thailand...

    just keeping things honest here benni..if that makes me a bore and a dawk so be it...

  12. #12
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    melvbot's Avatar
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    Quote Originally Posted by Jesus Jones View Post
    Personally i think there will be a demand for affordable apartments soon.
    Theres no shortage of affordable accomodation in most towns and cities in Thailand. Finding tenants that stay and pay is a different matter. If you ask around there will be plenty of rooms anywhere from bugger all to 2,000bt a month almost anywhere.

  13. #13
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    well i suppose if the 3000 badt flats are not getting anybody interested then i think we might plump for the slightly elevated price of 5-8k a month with a bit more sophistication purely in aesthtic building value!!!!
    I believe location and vanity is at play with most thai rentee's(of a decerning manner) and of course something that has everything within 10 paces of the room.

  14. #14
    Thailand Expat Jesus Jones's Avatar
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    Maybe affordable apartments that don't look like a rabbit pen.

  15. #15
    Days Work Done! Norton's Avatar
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    Quote Originally Posted by benlovesnuk
    well i suppose if the 3000 badt flats are not getting anybody interested then i think we might plump for the slightly elevated price of 5-8k a month with a bit more sophistication purely in aesthtic building value!!!!
    As with any business, before you set off on building do a good business plan. Research the market and find out where the opportunities are. Location, price, occupancy expectation, investment return et. al. should be well defined before you "venture" off on building. Unlike the movie, "build it and they will come", seldom works.
    Whenever you find yourself on the side of the majority, it is time to pause and reflect.

  16. #16
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    Ever thought of talking to an architect...?

  17. #17
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    Quote Originally Posted by klongmaster View Post
    Quote Originally Posted by benlovesnuk
    klongmaster you bore, you're not at all relevant in saying that which is so blisteringly obvious on this forum! I have acquired land with my wife she is the owner and its her money you dawk!
    I'm neither a bore nor a dawk...you stated something which is not possible and could be misleading to folks who are new to this forum or to Thailand...

    just keeping things honest here benni..if that makes me a bore and a dawk so be it...

    YEs it does!

    I didnt state anything that was impossible. I have acquired land(i did not say that i owned it or my name were on title deeds did I, for heavens abid should i say something so decieiving)!You didint ask what was the reason for my phrasing or put your question into a manner to be taken seriously. Your attitude was not relevant to newcomers to gain anything - but instead you just wanted to shoot off your wit!!!!!!!!!! well congratulations khlongy have you anything else to add of meaning to the thread?

    so,?

  18. #18
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    blackgang's Avatar
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    5-8 will get you a condo down on the river side, or a damn nice furnished house in a good Moo Ban.

  19. #19
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    Pretty easy to work out Ben.

    Calculate how much your investment will be up until lock up stage, add 20% to that figure taking care of variables then divide that figure by the amount of rental return and over 10 years.

    Then you should have a fair idea about where you are heading and good luck.

    By the way I envisage that your plot must be a long narrow piece of land and make sure you allow for enough driveway turning circle although most of your potential tenants will be motor cycle riders.

  20. #20
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    Well norton i still like kevins advice (and i think he was just unlucky with waterworld) but you've given some good advice. We are close to an international school, i hope to visit and get a good idea of the area in a more thorough look in the next week. I do want to see if there is a demand and possibly opening up this as a start to a different style or look for the chinagmai area!

    I have my sums and a figures now i just have to see if the build will allow me to make a worthy investment?

    An architect thats someone who helps me with my feet isnt it, no my feet are smelly but otherwise in good shape...........urm yes and architect an engineer and builders are all lined up for questioning!!!!!

    cheers lads good advice!

  21. #21
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    Quote Originally Posted by blackgang View Post
    5-8 will get you a condo down on the river side, or a damn nice furnished house in a good Moo Ban.
    5-8k will get you a guesthouse in chiangmai city of small space and about 2-3 km out as well. Though there is a sliding scale, you're suggesting there are only people wanting to be living on the river and wanting to just pay for being in a condo.....no i know I get what what you mean?

    I see what your saying but it seems a bit narrow to think there isnt a wider audience or market, which there are many in chiangmai (in my opinion), to not make a good go of it! Of course this will be something i can check out when im next there/!?!?!?!

  22. #22
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    loytoy it sounds good so far......................

    I know that everyone is saying there is always places that cost nothing but have you stayed in them they tend to be shit holes!

    Even good guesthouses have flaws and places that they could improve on and these are 5-7000 badt a month in the city. I have stayed at a lot of guesthouses and appartments and i have to say there is always something lacking!

    I am wanting to fill ths gap for locals in the area i am in and try to produce something for a small number to live somewhere slightly different from everywhere else. I think it is possible and figure wise i can drop down to 4500k a month.

    I would offer is possible to planning etc and funds;

    1 large bedroom
    with tv UBC
    diner
    terrace
    ensuite
    microwave
    full views of doi saket mountain
    free wireless
    internet room
    shop
    washing area
    car park under residence
    gated
    in a unique concept building that will stand out for those wanting that something different!

    i hope it can work please tell me if im wrong or mad, but i think i feel good about doing it so we shall see!

  23. #23
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    ^Sounds like a good deal really, but since you probably know Chiang Mai Condos too the important thing is additional costs like electricity etc.
    In that price range you also get air-con, you didn't write if you want to install it too. And car park & gated etc sounds more like the 6k+ Bht range. You do get ok rooms with fridge, tv and a bed, balcony and community swimming pool for 4500 in CM, but all other things cost extra, like parking lot, electricity expensive, internet extra etc. Might not be true a bit outside the city, but certainly is when you want to stay central.

  24. #24
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    will you be making it out of old car tyres or paddle pop sticks?

  25. #25
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    You really have to identify your market. From your posts so far, that does not seem to be the case (sorry if I am wrong)

    If you are near the International school, for instance, your customer base from there will be, in general, well off execs

    so you would need to build an appropriate luxury type development

    if you want Thais as your customers, you have to decide what class, and what are the likely rents

    so on and so forth

    you then have to decide how many apartments can be built to whatever specs, work out the probable rents then see if it all makes sense

    a 10% return pa would be reasonable considering the risks in Thailand
    I have reported your post

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