Thread: Are Condo's in Thailand Still A Good Investment ???

I am not trying to take the piss here.

Would a wise and shrewd person buy a condo in Thailand in todays uncertain political and financial climate ?

Originally Posted by SomchaiDriver

Would a wise and shrewd person buy a condo in Thailand in todays uncertain political and financial climate ?

Oh absolutely, undoutably, great investment.

How much money did you say you wanted to throw away... oops, I mean spend?

You could say the same in " would a shrewd person marry a Thai and build her a house in todays uncertain political and financial climate ? Hind sight is the only way to find out.

Originally Posted by Ivor Biggun

You could say the same in " would a shrewd person marry a Thai and build her a house in todays uncertain political and financial climate ? Hind sight is the only way to find out.

What kind of asshole would build a slagdog esarn whore a house ?

We're talkin condo's here.

Originally Posted by SomchaiDriver

Would a wise and shrewd person buy a condo in Thailand in todays uncertain political and financial climate ?

No! Rent for a bit and wait until the bubble bursts (again), then buy.

Try asking someone whos wise and shrewd.

Originally Posted by melvbot

Try asking someone whos wise and shrewd.

Wrong forum!

The reason I ask is someone is really looking to dump their unit. Same colpex is selling it for around 1.1 million baht and I can steal it for 750,000 baht.

^How many square meters?

location ??

The condo market in Thailand is a bit of a broad brush- where do you mean?

My view on property investment is longer term, and quite often at odds with the consensus, because it is driven by demographics, yields, and often counter cyclical considerations.

Pattaya/ Jomtien- basically positive.
Strong population growth, improving infrastructure and accesibility.
Growing industrial base along the eastern seaboard, close to the seaport and international airport.
Expressway to Airport/ Bangkok basically complete, hi speed train mooted to follow.
However, wide variances in price and value. Some newer developments seem to be asking too high a premium, to me. The mid/upper range condo market in Pattaya is quite buoyant- a lot of Russian money coming in currently.
Rental yields are still quite high in decent condo's, which is also in favour of the buyer in the rent/buy equation.

Bangkok- I am no expert, but it seems decent value if you avoid new, trendy developments.
I was just googling recently, and sound, reasonably central apartments in Bkk seem OK value. Location always a biggie- close to BTS/MRT always a plus.
Once again, the rental yield seems favourable to buying.
If Thailand slows down economically though, this will likely effect Bkk property more short term than Pattaya.

Phuket- Well located stuff went stratosperic several years ago, so I tuned out of that market entirely.
Might be value available in less sought after parts of the island, e.g towards Phuket Town, but can you get foreign ownership- dunno.
Basically, I don't trust Phuket real estate- too much hype.

Some interesting condo developments further down the coast from Pattaya, mainly in Rayong. I reckon these will make money- but don't expect many farang bars and restaurants to be around for some while.

The room is very small but seems like a good location, it is a corner so has the extra window.

Spanish Place Condominium Pattaya, Thailand Sales.

^Pattaya. I'll leave the speculation to the pats members. General rule of thumb is baht per sq meter in a given local. Check out a few others and see if 650,000 is a "good deal".

Originally Posted by Norton

^Pattaya. I'll leave the speculation to the pats members. General rule of thumb is baht per sq meter in a given local. Check out a few others and see if 650,000 is a "good deal".

You justed dropped the price 100,000 baht !

Most places in that price range are nasty and this place is pretty clean and seem up and coming.

But the rooms are quite small.

Originally Posted by SomchaiDriver

Most places in that price range are nasty and this place is pretty clean and seem up and coming.

Oops. Good thing I'm not the seller.

Spanish Place is on Sukhumvit, so a few kms from the sea/ tourist areas. On a high traffic day that means 30-40 minutes, maybe more.
Nice enough development, but location not great for a condo.
Price seems OK though- google and compare with other condo's for sale.

Theoretically if this person wants a quick cash sell and the units are being marketed for 1.1 million then is it a viable buy ?

Originally Posted by sabang

Spanish Place is on Sukhumvit, so a few kms from the sea/ tourist areas. On a high traffic day that means 30-40 minutes, maybe more.

?????

30 or 40 minutes to the beach ?

It is around 15 or 20 tops unless you are using a push bike.

Originally Posted by SomchaiDriver

Theoretically if this person wants a quick cash sell and the units are being marketed for 1.1 million then is it a viable buy ?

go ahead then , why listen to advice anyway...

^^ It has taken me a lot longer than that in my car, on several occasions.
OTOH, on a day like that it is quicker to walk. Or I suppose motosai, if you don't mind a bit of danger.

The prices you see mentioned are the developers asking prices, on the developers website. The inventory being held is mostly let out as short term holiday lets, so apart from development cost per unit (very low) the main pricing consideration is the Yield they receive. It is a bad holiday season- yields are low, and I would be surprised if the Developer is not negotiable on price too- unless he is well cashed up, and works on the 'theres a sucker born every minute' principle. Sometimes they are right, too.

Your real point of comparison is asking prices for other private sale units. Check around- but it doesn't seem unreasonably priced at first glance.

sabang

The prices you see mentioned are the developers asking prices, on the developers website. The inventory being held is mostly let out as short term holiday lets, so apart from development cost per unit (very low) the main pricing consideration is the Yield they receive. It is a bad holiday season- yields are low, and I would be surprised if the Developer is not negotiable on price too- unless he is well cashed up, and works on the 'theres a sucker born every minute' principle. Sometimes they are right, too.

Good point as I think 1 million baht for a small room is very pricey but they seem to have been selling them.

Your real point of comparison is asking prices for other private sale units. Check around- but it doesn't seem unreasonably priced at first glance.

I see other private units for 850,000 on lower floors not corner units.

Guess there is a very small market for these cheapo condos.

Originally Posted by SomchaiDriver

I see other private units for 850,000 on lower floors not corner units.

so great investment then. you mind is already made up, may as well do it!

Originally Posted by kingwilly

Originally Posted by SomchaiDriver

I see other private units for 850,000 on lower floors not corner units.

so great investment then. you mind is already made up, may as well do it!

May end up dead money.


And the rooms are freaking tiny.

Stupid investment.

You may recoup your dosh in 10 years time but profit will be negligible since inflation will have eroded any differential. Boom time finished 18 months ago and wont come around for another 10 - 15 years.

How much to rent a room over 10 years?

I expect it will be the same but minus the fees, maintenance and grief.

Inflation is running at 6% in the real world so why not put your dosh there?