Baaadmutha

Please tell me a place on earth where money isnt "numero uno"

All the stuff mentioned above happens to one degree or another everywhere.

Comparing apples to apples.....If you hypothetically consider two excatly identical condos, then place one witihin a 5 minute walk to the Thonglor BTS station, and place the other 1km inside Thonglor Soi 55, I would highly suspect that the one nearest to the BTS station would have a very significant price premium vs the other.

Wrong again. See this post: http://www.thaivisa....75#entry4345775

I fully appreciate the concerns about noise. I've had the same issues here in singapore and in KL when I lived there.

Obviously this is one of the things to consider in terms of the build quality.

However, as mentioned in my previous post, if you compare apples to apples and difference in the street noise reaching the units is not significantly large, most investors will prefer the unit closest to BTS.

I doubt KL and Singapore have motor shops that cater to vehicle owners seeking to modify their exhaust systems to create sounds like in a motorcross or formula one racetrack. Nor do I see buses and trucks on the roads of KL and Singapore spewing thick black exhaust without consequences.

Granted...road noise in SG and KL is not as bad as BKK...but it is bad enough if you live near a main arterry.

The only standard that has any meaning is how many baht per square meter. Once you have your budget you have to look at properties that match.

Maintenance & community property upkeep vary wildly.

Tell me how many baht per sq meter & we'll tell you if it's a good deal or not.

btw. Thai's won't buy second hand condos.

Why wont they buy second hand condos? Does that apply to brand new completed resell units that have never been lived in?

Does this also apply to landed homes?

Comparing apples to apples.....If you hypothetically consider two excatly identical condos, then place one witihin a 5 minute walk to the Thonglor BTS station, and place the other 1km inside Thonglor Soi 55, I would highly suspect that the one nearest to the BTS station would have a very significant price premium vs the other.

Wrong again. See this post:

I fully appreciate the concerns about noise. I've had the same issues here in singapore and in KL when I lived there.

Obviously this is one of the things to consider in terms of the build quality.

However, as mentioned in my previous post, if you compare apples to apples and difference in the street noise reaching the units is not significantly large, most investors will prefer the unit closest to BTS.

Considering Bangkoks miserable traffic problems, proximity to a BTS/mrt station is probably the most important location factor for most condo buyers/investors.

If the price of the unit is reasonable, it will always be a good investment.

Proximity to BTS is most important location factor? Disagree. Compare a condo unit 1 km inside Soi Thonglor (Soi 55) to one behind Lotus Onnut. Which has more value, and which will give better rental yield?

What is reasonable price? New developments are being priced Bt90k/sqm upwards - see Skywalk at Phrakanong.

Comparing apples to apples.....If you hypothetically consider two excatly identical condos, then place one witihin a 5 minute walk to the Thonglor BTS station, and place the other 1km inside Thonglor Soi 55, I would highly suspect that the one nearest to the BTS station would have a very significant price premium vs the other.

Reasonable prices are probably somewhere near where the demand line crosses the suppply line. Since there appears to be such a huge oversupply of units currently for sale, this would suggest that prices are indeed unreasonable.

Which one or two are currently best for condo sales/rentals?

Considering Bangkoks miserable traffic problems, proximity to a BTS/mrt station is probably the most important location factor for most condo buyers/investors.

If the price of the unit is reasonable, it will always be a good investment.

I just returned to my home in Singapore after a one month visit to Bkk. It had been almost two years since I was last there. Im now interested in investing in a condo in the city near a bts...

Here is another classic case of being familiar with BKK without sufficient depth.

BKK is not Singapore. Staying 50m from a main road like Sukhumvit means living with traffic noise and air pollution. Not many of us were raised as shophouse kids...

What are you trying to say in your post? Are you trying to answer some of the questions in the original post?

This may not be a welcome post to many TV members who already have ownership in BKK condos, but the truth often hurts.

I agree with you fully. There appears to be a huge supply of empty completed units currently available.

Developers also appear to be getting desparate to sell unsold inventory and are advertising their "discounted" prices and a number of silly promotions to get buyers in the door.

Prices appear to have already moderated, if not begun to fall singinifcantly. I suspect it is a buyers market now, and now(or over the next few months) will be a great time to pickup some distressed deals. Owners and developers wont accept reality easily, so the key is for buyers to make "low-ball" offers. These will serve as a wakeup call for the dillisuional owners or developers who may mistakenly beleive they should hold and wait for "better times", as it will probably be many years before actual demand meets current supply. Low balling is actually an unfortunate choice of words as it suggest bidding below the true worth of a unit...however, with prices well over their fundamental value, a low ball offer is probably most appropriate.

Real BKK growth is anemic at best. Compared to other SE Asian cities, there is hardly any growth to be seen in BKK city. Condo construction has undoubtedly overshot economic growth and demand by a big margin over the last couple of years. Its typical of a euphoric bubble situation where building activity and prices go well beyond fundamentals.

Place LOW BALL bids on anything you are interested in. Find a hungry real esate agent that is willing to fish around for desparate sellers, and If the owners regect, move on to your next target. You will eventually find a desparate punter willing to cut his losses and sell at a fundamentally reasonable price.

I just returned to my home in Singapore after a one month visit to Bkk. It had been almost two years since I was last there. Im now interested in investing in a condo in the city near a bts because i feel prices peaked and may come down significantly. Perhaps there is value to be had now or in the next 12 months in Bkk real estate?

These are some of my observations in regards to the city and the condo market:

- The city seems to be cleaner than before. I hardly noticed any trash in the streets, and far fewer rats running around.

- the new airport-city train is a nice touch. Makkasan station is ginormous. I wonder why they made it so large? looks like a small airport terminal. Hard to ge a taxi there. It's a giant cavernous waste of money for the most part.

- No other significant changes to the city in the last two years.

- There appears to be one or two new malls since last visit. Not many new commercial/office construction progects to be seen along Sukhumvit.

- There are a number of new Condos along the Suk BTS line.

- There appears to be a buyers market for condos, as there were numerous promotional incentives offerred in newspapers and billboards for ready built protects.

- Developers are quoting prices for the units that are complete. Usually broad publication of prices by developers is a bearish signal for the real estate market.

- There is an enormous potential to build new condos on or near btw lines as there are a number of run down or derelict properties everywhere. This indicates that there is a huge supply of land that could be developed in the future. Large supply typically suggests low prices.

-What are the members thoughts about my observations?

-Do you think the city condo prices can fall significantly further from where they are now?

- are you hearing of allot of distress sales for condos in the city?