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  1. #1
    SE Asia somewhere
    slimboyfat's Avatar
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    Is it worth buying a cheap condo unit?

    Let's say I've got 2 million baht burning a hole in my pocket.

    Is there anywhere in Thailand worth buying a condo for that kind of money as an investment?

    Thanks.

  2. #2
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    Dragonfly's Avatar
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    short answer, nope

    spend the money on whore or booze and be happy

    or buy a nice diamond for your wife,

  3. #3
    Member Thedogsbollix's Avatar
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    You lost it when you mentioned Investment, besides that buying a Condo aint a bad idea.

  4. #4
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    Quote Originally Posted by slimboyfat
    Let's say I've got 2 million baht burning a hole in my pocket.
    Aint gonna get much more than a box for that.

  5. #5
    Thailand Expat Luigi's Avatar
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    Depends what your plan for your life in the country is.


    I bought one in BKk around 5 yrs ago, and one in CM around 18 months ago. Hadn't planned on renting them out, but as we now live in a house and I don't get up to CM that often I put them on the market and they were rented within a month at 8% and 10%.

    Nice to have for the following reasons.

    Nice to have emergency condos should I ever need them.
    Will leave them to the sproglette.
    When I move to CM in a few years I'll keep that one as a downtown weekend place while living outside the city.

    If it's throw away money and you'll get some usage, and you have a sprog that will inherit them, go for it.

  6. #6
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    Its a good idea.
    In foreign ownership, meaning in your name.

  7. #7
    I am not in Jail AntRobertson's Avatar
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    Quote Originally Posted by slimboyfat
    Let's say I've got 2 million baht burning a hole in my pocket.

    Is there anywhere in Thailand worth buying a condo for that kind of money as an investment?

    Thanks
    Dunno the answer yet but I may be able to tell you soon. The wife's just brought one in a tourist area of CM and seems convinced she can make a go of it on that AirBnB thing. I'm a bit skeptical meself but hey-ho.

  8. #8
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    Quote Originally Posted by Luigi View Post
    you have a sprog that will inherit them, go for it.
    How long do you think condos last here? They're built to last a few decades and are then valueless when they are torn down.

  9. #9
    Thailand Expat Luigi's Avatar
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    Quote Originally Posted by Immispud View Post
    Quote Originally Posted by Luigi View Post
    you have a sprog that will inherit them, go for it.
    How long do you think condos last here?
    In spud years or human years?

  10. #10
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    Quote Originally Posted by Immigrunt
    How long do you think condos last here? They're built to last a few decades and are then valueless when they are torn down.
    Yeah that would be my problem with buying. They look great when they are first put up, but all seem to turn to shit quickly. Fook the new stuff, I would be looking at older condos only.

    If you can find one that still looks nice and was built 20 years ago, that's the one you want because it means they are actually taking care of some shit. Whether nice 20 year old condos actually exist, I have no idea but I'd venture they are far and few between

  11. #11
    Thailand Expat cyrille's Avatar
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    I agree that looking for older places is probably a good idea. Also because the residents committee etc. will be established. If it's anything like other aspects of living in Tbailand then it's important that there is an established history of residents sorting out shit for themselves.

    This may be less likely to happen nearer the bottom end of the market...which is where two million baht will place you.

    There are plenty of 20 year old condos still going strong.

  12. #12
    I am not in Jail AntRobertson's Avatar
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    Quote Originally Posted by Luigi
    In spud years or human years?


    Oooooh fuck I damn near pee'ed meself!

  13. #13
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  14. #14
    Member Thedogsbollix's Avatar
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    Quote Originally Posted by Immigrunt View Post
    Quote Originally Posted by Luigi View Post
    you have a sprog that will inherit them, go for it.
    How long do you think condos last here? They're built to last a few decades and are then valueless when they are torn down.

    Quite the load of shit this post even though it could be applied in some cases.

    Many older condos are well managed and aint going anywhere, the trick is to spend considerable time sourcing out quality properties and actually rent the fuking thing before buying.

    This way ya sort out the good stuff.

    Further more, Condos are great value in Thailand because there are 6 billion of the fukers so if ya got a wad of cash ya want to unload buy one.

    Older well placed Condos can be exceptional value after a Reno.

    Cost fook all to do as well.

    Given the other fact that us White Devils can actually own the fuker without fear of ya slag stealing it and one can be on a winner.

    Bought mine for fok all in CM.

    Love it.

  15. #15
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    Airbnb is certainly illegsl in hua hin, the police have been around to all the condos instructing management to stop overnight and all short lets.

    The hotels have clout in tourist towns and airbnb is hurting them.

  16. #16
    Member Thedogsbollix's Avatar
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    Quote Originally Posted by Slick View Post
    Quote Originally Posted by slimboyfat
    Let's say I've got 2 million baht burning a hole in my pocket.
    Aint gonna get much more than a box for that.


    All depends where this guy is looking at, he certainly aint looking in BKK that's for sure.

    But Yer, if ya gunna buy then unload a bit more cash and get a decent sized fuker.

  17. #17
    Member Thedogsbollix's Avatar
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    A long term reliable tenant out guns ABand B anyday.

    Many hassles doing that shit.

  18. #18
    Thailand Expat Luigi's Avatar
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    Quote Originally Posted by Thedogsbollix View Post
    exceptional value after a Reno.
    That's one of the great things about buying in Thailand. I did my CM condo from scratch and decked it out with furniture and fittings from Baan Tawai wooden furniture village. Absolutely amazing stuff, that would would have cost 200,000 quid in the West.

    A TD member put in touch with a local kitchen fitter and I had a whole new red brick kitchen built to offset the deep wood, immaculate work and finish and again would have cost about 100 grand in the West.

    Of course another advantage is that you own it and you set it up as you please.


    Fok it, might buy another one down along the coast.

  19. #19
    Member Thedogsbollix's Avatar
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    ^

    Absolutely,

    If ya got spare money why not.

    Myself am also thinking of unloading some cash into another Condo.

    Could not give a fuk about making money on it, at the end of the Day anything can happen in this shit house.

    Just have em for a giggle and play time.

    Compared to Condos in the West they give em away for free here.

    The fact that a falling out with ya bint does not mean ya lose ya shit is the topper innit.

  20. #20
    disturbance in the Turnip baldrick's Avatar
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    Quote Originally Posted by Luigi
    Fok it, might buy another one down along the coast.
    would be interested to see various listings for places outside the main white boy tourist areas

  21. #21
    Days Work Done! Norton's Avatar
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    Quote Originally Posted by baldrick
    would be interested to see various listings for places outside the main white boy tourist areas
    DD properties a good site. I bought a small condo in KK years ago. Sold it and made a decent profit. Notice at link per sqm2 cost not much different than bangkok.

    http://www.ddproperty.com/en/condo-f...khon-kaen-th40

    Can't be bothered anymore buying property for investment but if I was would be looking between Korat and Nong Khai. Expect demand will increase over next few years when the high speed rail system is completed.
    Whenever you find yourself on the side of the majority, it is time to pause and reflect.

  22. #22
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    It's a good idea. I bought one 14 years ago and it has gone up in value. A few have recently sold for more then twice what I paid.
    If you look on the Sukhumvit Sky train line out near Bearing or farther they have some good deals in your price range.
    Always buy near the Sky Train or MRT because easier for you to get around and also when you want to rent or sell it makes it a lot easier to find the buyers. Best of Luck.

  23. #23
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    Most condominiums in Thailand will never gain value. Here's the way I look at it... I just paid 50K baht for a hotel room, for 1 year. It has a swimming pool, the rooms is cleaned for me, room service, good location, security, etc. If I buy a condo for 1 million baht, I will need to live in it for 20 years before I save money, and the condo doesn't clean itself like my hotel room. Renting an actual apartment would be even cheaper than hotel room of course.

    If you've got tons and tons of money, why not. For me it doesn't make sense. I also like the freedom.

    The system of "You've got 3 visa renewals in your passport, entry denied!" makes me not want to buy a damn thing in Thailand ever. OK, I don't have a tourist visa, but the instability of knowing the government can come up with any asinine immigration law at any time... I'd rather not have the worry of being denied access to the country where I own property. I'd feel more comfortable buying an apartment in Phnom Penh where their visas are more lax.

  24. #24
    Thailand Expat
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    Quote Originally Posted by thickjoe
    I just paid 50K baht for a hotel room, for 1 year
    50K per month, or 50K for the whole year?

  25. #25
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    Quote Originally Posted by thickjoe View Post
    Most condominiums in Thailand will never gain value. Here's the way I look at it... I just paid 50K baht for a hotel room, for 1 year. It has a swimming pool, the rooms is cleaned for me, room service, good location, security, etc. If I buy a condo for 1 million baht, I will need to live in it for 20 years before I save money, and the condo doesn't clean itself like my hotel room. Renting an actual apartment would be even cheaper than hotel room of course.

    If you've got tons and tons of money, why not. For me it doesn't make sense. I also like the freedom.

    The system of "You've got 3 visa renewals in your passport, entry denied!" makes me not want to buy a damn thing in Thailand ever. OK, I don't have a tourist visa, but the instability of knowing the government can come up with any asinine immigration law at any time... I'd rather not have the worry of being denied access to the country where I own property. I'd feel more comfortable buying an apartment in Phnom Penh where their visas are more lax.
    I would like to see this 4 dollar a day room.

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