HC82

Some wise words and good advice here. My wife and I have started to look at condos and have up to 5 million to spend in Bkk close top BTS/MRT and are open to suggestions as to areas. To kick off we are currently staying in Rachada and had a look at the Diamond Residences. The previous poster was spot on that the block seems to have been finished cheaply and you can see poor paint finishes grouting etc and the entrance is already showing some broken bits which doesnt bode well for the future. We looked at 3.9 m 1 bedders in the block with pool and fitness centre ( which were nicely done and looked good - though no steam room - only separate male and female saunas)3.9 - 2 bed 5.7 - monthly charges to the management company a modest 1k. All the fittings were cheap and relatively nasty - no gas just 2 electric rings. Mostly sold to Thais and HK Chinese , Koreans and Japanese. We are not looking for investment potential per se just somewhere to park our money from a house sale in London and give us somewhere to stay for say a couple of month a year (we will stay 6 months in UK) and the rest of the time in Chiang Mai. Starting to agree with some of the posters that says quality will win out in the long run. Very open to further suggestions either on the forum of PM me.

Put the money in some other investment and rent, would be my advice. Unless you are fine with possibly being dead by the time somebody comes along willing to buy that condo from you.

Hopefully when the Regent (or whatever they renamed it) is finished and the Hyatt Regency opens it will revitalize the area and values will go up. I still think Soi 13 is a hidden gem. It's nothing like the surrounding areas, very quiet and clean, but you are steps away from any kind of entertainment, shopping, nightlife, transportation etc that you could ever want.

I wonder whether building a 6-star hotel next to Nana Entertainment Complex will upgrade the neighborhood, or will downgrade the hotel to 3-star...

Common misconception. It's not 'next to' Nana. That is Soi 4. This is Soi 13. You have to cross the road and then go past soi 3, 5, 7, 9 and 11 before you reach it - quite a long journey. Certainly long enough for the scum to wear off.

It is however right next to Soi 11, but that's a pretty nice soi with some great restaurants, nice hotels etc on it, nothing like Soi 4.

Take a stroll down Sukhumvit from soi 3 to Soi 19 after 9pm with your young kids and explain to them what they will see. Who are those ladies in sexy attire hanging about smiling at passing guys? Who are those dark skinned guys striking up conversations with passerbys? What do those stalls sell with their mix of plastic toys and boxes of medicine? Why do those stalls sell DVD movies with sexy people on the covers that are not shown in the local theatres?

If you disagree, then Siam Paragon and Chula are 'next to' Patpong and they seem to be doing alright.

Hopefully when the Regent (or whatever they renamed it) is finished and the Hyatt Regency opens it will revitalize the area and values will go up. I still think Soi 13 is a hidden gem. It's nothing like the surrounding areas, very quiet and clean, but you are steps away from any kind of entertainment, shopping, nightlife, transportation etc that you could ever want.

I wonder whether building a 6-star hotel next to Nana Entertainment Complex will upgrade the neighborhood, or will downgrade the hotel to 3-star...

Common misconception. It's not 'next to' Nana. That is Soi 4. This is Soi 13. You have to cross the road and then go past soi 3, 5, 7, 9 and 11 before you reach it - quite a long journey. Certainly long enough for the scum to wear off.

It is however right next to Soi 11, but that's a pretty nice soi with some great restaurants, nice hotels etc on it, nothing like Soi 4.

I've always disliked property as an investment class. So illiquid and so many ownership responsibilities. I cannot understand people's fascination with it, unless you buy into a fund

Illiquidity can also be a good thing. It can prevent you doing something stupid with the money. Sorta like putting your money into a CD so you don't touch it. This is particularly good when passing the wealth to the next generation is important. Would you rather leave your 15 year old kid $5 million in cash or $5 million in condos?

The other perk is that you, or family members, can live in it, regardless of what happens to the market...

Hopefully when the Regent (or whatever they renamed it) is finished and the Hyatt Regency opens it will revitalize the area and values will go up. I still think Soi 13 is a hidden gem. It's nothing like the surrounding areas, very quiet and clean, but you are steps away from any kind of entertainment, shopping, nightlife, transportation etc that you could ever want.

Good luck selling a Condo in Trendy!

Problem now in Bangkok is oversupply, and probably 80% are buying to let, so massive oversupply of condos for rent, pushing rents/yields down to ridiculous levels if you are lucky enough to rent it out in the first place.

Ya when I bought my place there was a tenant ready to pay 40k/month (maybe it was a lie but I was paying 33.5k in the same building and would have gladly paid 40k to upgrade) and last year when I tried to rent it out, I couldn't find anybody at 40k. Then no takers at 35k, 30k, 25k...finally bit the bullet and rented it to a guy who paid all cash for a year for 18k/month!!!

Such a bargain for him but I just hated paying common area fee's every six months and getting nothing in return. I know a Thai owner would rather have nothing than to lose face for the price I took but I don't care about face lol

Prayer plays no part in a sound investment strategy.

Prayer is for gamblers

k thx for your input

Ok thanks for all the feedback. I had no idea of the state of the market.

Around the same time I bought my condo I also bought some mutual funds that invest heavily in the Thai stock market. Those are up well over 50% in the same time period! I was hoping there was a similar gold rush in real estate, but it appears that isn't the case. I think I will just hold it for some more years and pray one day there is huge demand and price increases for Bangkok real estate

I left Thailand about two years ago and still own my condo there. I'm curious how the market is doing? Have prices gone up or down? Is it easier or harder to sell now? Do people think things are looking positive or negative for the future?

I'm wondering if I should try to sell now or wait for a better time when demand and prices might be better, or if that time is now.

I own a condo in Trendy on Sukhumvit 13 if that helps.

Thanks!

lol @ that picture doesn't she have some kind of cultural advisor telling her they don't shake hands in Thailand? the article even says she greeted them with a wai. I picture her doing that before giving a speech or to a crowd and then shaking hands one by one like an idiot.

Anyway her being here has very little to do with the floods and everything to do with strengthening America's ties to 'our oldest ally in Asia' (her words from last year) and surely a request for another block of troops to be stationed in Thailand and a doubling of the embassy compound so another couple thousand CIA agents can work in Bangkok - they are flexing their muscles at China.

A lot will depend on the completion of the 5 star regent hotel across the road. The soi itself is pretty crapy ATM but again it will be a different place with the Regent coming on line in approx 2 years (work has begun)

Interesting to note the new condo being built next door to trendy is double the price per sqm according to their current price list.

If i was selling I would wait for both those projects to complete first.

hey hey some good news, thanks

Did not know work hard re-started on the Regent or what they were even building next door.

Any change to the market now, 5 months later? Rental or resale prices gone up or down at all?

OP is asking about Trendy in Sukhumvit 13, a project that was completed almost 3 years ago, with selling price in the Bt68k/sqm region.

68k was the price from the developer or the price they are selling at now?

I think that 'less prestigious' thing means that the overall price per sqm is coming down because there are cheaper places on the market. It doesn't mean the 'more prestigious' places are selling for less than they were a year ago.

For example, in a very simple hypothetical market:

Year 1:

4 Condo A sold at $100

3 Condo B sold at $50

3 Condo C sold at $25

Total sales, 10 units for $625, avg of $62.50

Year 2:

4 Condo A sold at $110

5 Condo B sold at $60

10 Condo C sold at $30

Total sales, $900, avg of $54.73

The average price came down by 12.4% in Year 2, but all condo types appreciated in value.

I bought my condo about a year ago and have been out of Thailand for awhile and haven't kept up on the market at all. Other than a nice strengthening of the Baht, I have no idea how my investment has fared so far. Anybody have any idea what the condo market has done over the last year?

The development is 'The Trendy' on Sukhumvit Soi 13, a pretty new development not at the upper end of new developments but In the 70-80th percentile probably.

Eligibility for Online Applications

Welcome to e-XTEND Online

Thanks.

Two things about that suck.

1. Have to have a local sponsor

2. Have to stay out out for 5 days before returning

I think I'll just do the taxi to the border thing every 90 days.

lol

I put just three days on the arrival card and got 90. That part seems standard.

Thanks.

Still curious about the online thing.

I got 90 days on arrival.

Still curious if I can extend this easily without leaving the country. Anybody know? Is it possible online? Can you extend back-to-back a bunch of times?

Fix what problem?

I've read numerous posts of people with years long overstays, one other poster with a stay of over 20 years, and every single one of them went to the airport and payed the 20,000 Baht fine and left without incident and were free to return.

Had it not been for a sensationalist and completely fictitious article by a garbage tabloid startup in Pattaya everybody would tell you just to go to the airport and pay the fine then come back. Now some are probably telling tall tales of certain jail time but their claims are backed up by no facts or actual cases of people going to jail, just rumors fed by irresponsible ThaiVisa headlines.

I can't guarantee with 100% certainty nothing will happen to you but I'd bet all of my worldly possessions on it without batting an eye. Just get to the airport and you'll be fine.

What is the max stay for the visa on arrival in Singapore for American passport holders?

Also I've read this can be extended in-country, possibly even online? Is this accurate? If so can it be extended multiple times/what is the max stay?

Thanks!

If he had just paid the 50k up front he probably wouldn't have had all these problems

I never understand these withholding of passport claims. That is a crime. All he has to do is go to the police and say 'they have my passport' and the police would contact them and force them to give it back - or arrest them.

You always hear this in forced labor claims and its <deleted>.