The River Condo - Alternative Suggestions

[RAZZELL]

Right, my wife and I (well her) have a house in Bangkok. 

 

At the moment we live full-time in the UK.

 

However, it looks like we might be moving back to Thailand soon and there is a "possibility" that she might be getting a position in IconSiam when it opens in October (?)

 

This would probably too far for a daily commute from our house near Suvarnabhumi.

 

I don't know the Riverside area too well apart from a short stay at Lebua about 12 years ago 

 

The River seems to be a 5 minute walk away from her workplace.

 

However, the development seems to get very mixed reviews.

 

I know a lot of units seem to unoccupied and there are hundreds for sale on :

 

https://www.hipflat.com/projects/the-river-ujzrci

 

You can buy one like this:

 

https://www.hipflat.com/listings/bangkok-condo-abjjjmik

 

or this:

 

https://www.hipflat.com/listings/bangkok-condo-akgcxzzy

 

or this:

 

https://www.hipflat.com/listings/bangkok-condo-ingbqanz

 

Having never lived in a condo what should I /we be looking out for?

 

Obviously, the "view" which is why most would buy at The River - but you don't live outside 

 

What are the drawbacks of the "basement" type units? They are about 1/3 the price of a high floor of same size.

 

I quite like the look of the one I posted above - seems like a Townhouse.

 

Anyway, please don't "flame" me - as I said I don't know the area and this is just from Internet research.

 

If not The River - what other "decent" condos are in that location?

 

We are not adverse to perhaps buying in the Ratchadamri/Sukhumvit area but would probably be out of our budget. (10-20m baht - got to be above 70m2)

 

And nothing further than a 20 minute commute.

 

Many thanks

 

 

RAZZ

 

 

 

 

 

 

 

[Peterw42]

Hipflat prices are optimistic asking prices, not the actual realistic asking or selling prices. I have found the hipflat prices to be wildly inaccurate, after all its what people would like for their property, not what they will get.

Thai prices do have a premium for the higher the floor, often not much to do with a view etc, just more expensive the higher you go. You pay more for a high floor in a building that just looks out at another building. 

[tolsti]

go and physically visit the building. See the monthly financial statements and get a copy of minutes of the last AGM. Those will give you an idea of the financial health, state of the building itself and any issues between the co-owners and the developer.

[RAZZELL]

58 minutes ago, tolsti said:

go and physically visit the building. See the monthly financial statements and get a copy of minutes of the last AGM. Those will give you an idea of the financial health, state of the building itself and any issues between the co-owners and the developer.

We're back in Thailand at the beginning of April.

 

Just trying to do as much research as possible before I go.

 

RAZZ

[RAZZELL]

3 hours ago, Peterw42 said:

Hipflat prices are optimistic asking prices, not the actual realistic asking or selling prices. I have found the hipflat prices to be wildly inaccurate, after all its what people would like for their property, not what they will get.

Thai prices do have a premium for the higher the floor, often not much to do with a view etc, just more expensive the higher you go. You pay more for a high floor in a building that just looks out at another building. 

Is there an "online resource" that actually shows the real selling price?

 

Can I/we visit the land office and research actual "sold" prices of a property?

 

RAZZ

[HampiK]

I live in this area "Klongsan" and there are a view condo buildings. The River is one of many.

But at the end it depends, how much money you want spend for the condo and how much Luxus you expect.
Additional I would say I like it little bit higher but not too high. because the mobile connection is often worse on higher floors.

[Peterw42]

29 minutes ago, RAZZELL said:

Is there an "online resource" that actually shows the real selling price?

 

Can I/we visit the land office and research actual "sold" prices of a property?

 

RAZZ

Not that I know of, and thats all part of the smoke and mirrors of the Thai property market. Unfortunately asking/advertised prices are often way different to the prices property changes hands for, but most sellers will base there asking price on what "others" are asking, thinking thats the market price.

The broader you can cast your net, the better. Look at lots of condos and get in the loop with lots of agents, selling groups on Facebook etc, Thais that sell property but are not attached to one agency etc,  they will all start sending you properties, recommending properties that another agent/friend has etc. You can end up being in a large network of agents/thais that sell real estate etc, they all sell and list each others properties and share commission etc, and you find a well priced condo.

 

 

 

[KittenKong]

I think that anyone would be out of their mind to a buy a condo in Thailand if they didnt know the building or the area, and especially if they have never lived in a Thai condo before.

Rent one that looks nice, live in it for a year or more, and see how you feel about it after that. If you really like it and if your circumstances are the same then you can consider buying one. Living in the area should make it much easier to find and visit potential purchases also, and it may allow you to find a motivated vendor and to avoid using an agent which could save you a significant amount. But always bear in mind that Thai property is very easy to buy and usually very, very hard to sell.

The only time you will ever know a real selling price is when you buy or sell one yourself, and even then there will probably some scam going on. Everything else is just lies and deception. Trust no one.

[RAZZELL]

1 hour ago, KittenKong said:

I think that anyone would be out of their mind to a buy a condo in Thailand if they didnt know the building or the area, and especially if they have never lived in a Thai condo before.

Rent one that looks nice, live in it for a year or more, and see how you feel about it after that. If you really like it and if your circumstances are the same then you can consider buying one. Living in the area should make it much easier to find and visit potential purchases also, and it may allow you to find a motivated vendor and to avoid using an agent which could save you a significant amount. But always bear in mind that Thai property is very easy to buy and usually very, very hard to sell.

The only time you will ever know a real selling price is when you buy or sell one yourself, and even then there will probably some scam going on. Everything else is just lies and deception. Trust no one.

 

I was certainly thinking of doing that first. Just looking for a bit of advice on that development (and others) in that area.

 

RAZZ

[KittenKong]

One other thing: when I hear the words "river view" in Thailand I immediately wonder how close the water gets to the front door during floods. Possibly not an issue at all in that area, but worth bearing in mind.

[HampiK]

4 hours ago, KittenKong said:

One other thing: when I hear the words "river view" in Thailand I immediately wonder how close the water gets to the front door during floods. Possibly not an issue at all in that area, but worth bearing in mind.

In the last 4-5 years were never a problem. Of course some streets in this area have water of about 10-20cm at some parts. but the condo itself has not problem so far I could see in the past.
But still yes it could become a problem maybe. I hope they were thinking of some security but who knows :). 

[Aussieroaming]

Urbano Absolute is a reasonable condo building very close to The River. Watermark Chaophraya is ok too, though further down.

 

 

[RAZZELL]

Thanks for the replies so far. 

 

Will be there in under 3 weeks to check The River and some other condos out.

 

RAZZ

[RAZZELL]

Update:

 

As per usual we didn't get time to have a proper look but did go to Anantara which is just down the road.

 

Mrs has been offered the job and starts in July but will begin at Siam Icon when it opens (October/Nov?) - so will commute to Central Bkk in the meantime whilst she completes her probation.

 

She is returning in just over a month - I will follow her shortly after 

 

RAZZ

[RAZZELL]

BTW - I found out that some of the rooms on the top floor(s) have been rented or sold to use as serviced apartments:

 

 http://www.klapsons.com/

[YT3k72Em]

Sold/leased them in bulk to try and clear some of the unsold units.

Dont forget if you buy in a massive project like this, when its time to sell up you will be listed next to 200 other rooms in the same building trying to sell at any given time. The only way you can differentiate from all the others is to make yours the cheapest, since they all look basically the same inside.

It would take months just to look at what is available in there.

[RAZZELL]

On 4/29/2018 at 3:58 PM, YT3k72Em said:

Sold/leased them in bulk to try and clear some of the unsold units.

Dont forget if you buy in a massive project like this, when its time to sell up you will be listed next to 200 other rooms in the same building trying to sell at any given time. The only way you can differentiate from all the others is to make yours the cheapest, since they all look basically the same inside.

It would take months just to look at what is available in there.

Just had a look at half a dozen condos there.

 

Love the condos. Don't like the area.

 

Obviously, I am not alone as there are 462 for sale and 555 for rent on Hipflat!

 

RAZZ

[Robert24]

I agree with people who suggest to rent first in a potential condo or area you like. Don't rush into buying. I'm considering moving to Charoen Krung road. I like this area better than the other side of the river. Some very nice developments being completed such as the Room 30 from L&H.

Sent from my SM-J701F using Thailand Forum - Thaivisa mobile app

[RAZZELL]

Update:

 

We are going to rent at The River for a year to see how the wife enjoys her job and get to know the area.

 

I'm still not a big fan but I think the next 5 years or so will see big changes.

 

RAZZ

[GOPinThailand]

Check out River Garden Apartments next to Shangri-La Hotel if you have not yet signed. 

 

Older but big units and great river views. One the “right” side of the river. 

 

If if you want better facilities, join  Shangri-La’s health club. Not too expensive, very good and awesome pool. 

[RAZZELL]

7 hours ago, GOPinThailand said:

Check out River Garden Apartments next to Shangri-La Hotel if you have not yet signed. 

 

Older but big units and great river views. One the “right” side of the river. 

 

If if you want better facilities, join  Shangri-La’s health club. Not too expensive, very good and awesome pool. 

Thanks.

 

Can you help me out with a link as I'm having no luck finding any listings?

 

RAZZ

[GOPinThailand]

10 hours ago, RAZZELL said:

Thanks.

 

Can you help me out with a link as I'm having no luck finding any listings?

 

RAZZ

Here is an RE firm listing a unit but I would just go to the building office  during the day(not Sunday) and see what they got. Seem very flexible about prices and modifications. 

 

Very end of the same Soi as Shangrila( has Peninsula boat dock waiting room on ground floor ).  Almost moved there twice but my kids go to school in Ekamai so not practical. Great if you want to live on river. 

 

https://www.bangkokfinder.com/p/6175-Condo-For-Rent-Sathorn-Riverside-River-Garden-Building/

 

 

Building with correct location

 

https://www.emporis.com/buildings/178925/river-garden-apartment-bangkok-thailand

[RAZZELL]

On 10/10/2018 at 6:30 PM, GOPinThailand said:

Here is an RE firm listing a unit but I would just go to the building office  during the day(not Sunday) and see what they got. Seem very flexible about prices and modifications. 

 

Very end of the same Soi as Shangrila( has Peninsula boat dock waiting room on ground floor ).  Almost moved there twice but my kids go to school in Ekamai so not practical. Great if you want to live on river. 

 

https://www.bangkokfinder.com/p/6175-Condo-For-Rent-Sathorn-Riverside-River-Garden-Building/

 

 

Building with correct location

 

https://www.emporis.com/buildings/178925/river-garden-apartment-bangkok-thailand

 

Many thanks.

 

I might go down there tomorrow.

 

RAZZ

[RAZZELL]

We are currently staying at Klapsons@The River.

 

I will post a full update later on of what I think of The River, the local area, other condos nearby etc etc. 

 

But the above condo "River Garden" is being knocked down.

 

 

[thaiguzzi]

HALF A MILLION DOLLARS for a Condo?

An apartment?

A flat?

In Bangkok?

Jeez, i must be living in another parallel universe....

Two things with apartment blocks, no, make that three;

1. i'd get vertigo.

2. i'd get claustrophobic.

3. i'd be living in a large city.

I'll stick to living in Nakon Nowhere on my 25 acre farm with zero neighbors........

Sorry, carry on, you were saying......

[RAZZELL]

13 hours ago, thaiguzzi said:

HALF A MILLION DOLLARS for a Condo?

An apartment?

A flat?

In Bangkok?

Jeez, i must be living in another parallel universe....

Two things with apartment blocks, no, make that three;

1. i'd get vertigo.

2. i'd get claustrophobic.

3. i'd be living in a large city.

I'll stick to living in Nakon Nowhere on my 25 acre farm with zero neighbors........

Sorry, carry on, you were saying......

 

Well, different strokes for different folks.

 

Compared to Hong Kong or Singapore it's cheap.

 

 

RAZZ

[RAZZELL]

 

Typed a long reply on a word document - need to re-do it.

 

Some links member YT3K72EM kindly sent me.

 

https://bk.asia-city.com/city-living/news/why-life-charoen-nakhon-has-never-been-sweeter

 

http://www.culturedcreatures.co/เจริญนคร/

[KittenKong]

On 11/21/2018 at 8:40 AM, thaiguzzi said:

HALF A MILLION DOLLARS for a Condo?

An apartment?

A flat?

In Bangkok?

You could pay that much for a nice condo in Pattaya/Jomtien, and there are many condos in Bangkok that cost far more than that.

My own condo was somewhat cheaper.

[RAZZELL]

23 hours ago, KittenKong said:

You could pay that much for a nice condo in Pattaya/Jomtien, and there are many condos in Bangkok that cost far more than that.

My own condo was somewhat cheaper.

Exactly...

 

Bangkok is a capital city in a developing nation.

 

If you look at new build condos in Silom, Sathorn, Sukhumvit...it is almost impossible to find one under 10 million baht...and this is for a "shoebox" size.

 

From my limited research the "sweet spot" seems to be condos about 6 years old...modern designs and excellent quality builds with the "right" developer... however, without the current "shoebox" dimensions and expensive prices.

 

 

RAZZ

 

 

[RAZZELL]

As promised - here is my “review” of The River and the surrounding area.

LOCATION

 

It's not perfect but the area is growing on me.
 
The main thing is that this condo is 10 minutes for my wife to walk to work. 

 

With the amount invested here...in 5+ years it is going to be ok. And it is only 30-40 minutes to Siam BTS from our front door via the BTS.

 

Saphan Thaksin BTS and Krung Thonburi are both a 10 minute walk. I tend to go Thonburi as the train is already quite full – just more chance of a seat or some space.

 

You can even walk to Siam in about an hour (which I have done).

 

There are boats/ferries across the river, a free one from the Condo (they occasionally ask to see your key) and also free ones from ICONSIAM and a paid for ferry (4.5 baht) which crosses to next to Khlong San/The Sheraton/River City. Further down the river it was 3.5 baht.

 

River City is a nice way to spend an hour looking at overpriced antiques – although the shop that sells watches on the ground floor does have a rather “dubious” looking vintage Tudor Submariner, (buyer beware). Some nice-looking coffee shops on the River front outside River City.

 

The traffic outside can be horrendous in the morning and evening rush hours.

This is not helped by the building of the Gold Line which will take people to ICONSIAM.

You do get some road noise if you have a condo at the “roadside” of the building. Also, you hear the odd ambulance/police car sirens going down the street.

COMPETITION

Personally, I think The River might be better value than Magnolias and Banyan Residences etc which are currently being built (bigger sizes are out of our price range anyway).

 

Both are further down the river and are closer to ICONSIAM and the hospital=noisy. The Banyan Residences are also next to a massive Temple and Police station. 

 

They are also, 30-50% more expensive. The finish at The River is excellent. (I've looked at about 10 other new build condos around here of good quality - none are up to this standard).
 
Although I've only been here only 2 weeks I've been walking 10-15 miles a day checking out the local area... (I'm bored and knackered) lol
 
Plus, it's only a 25 minute walk to get a beer in an Irish Pub in Silom...(have my cravings now and again)
 
Although a nice local pub would be nice to watch the footie etc or even a "Thai" pub/restaurant to listen to some Thai music. (they do have a pub downstairs - Wish Bar)
 
And even though the condos are mega £££ it's still 1/3 cheaper than new condos (shoeboxes) in Silom for 20+m!
 
We will give it 6-12 months then see how much £ we have  lol

NEGATIVES

 

The price. 

 

A one bedroom is about 7-10-12m baht.

 

A small 2 bed for about 12m-25m baht.

 

A decent (100 metre) condo for about 18m? Can see some 3 beds for around 25m.

 

100m+ 20-35 million.

 

Also it is very quiet.

 

I talked to the sales office and they said it is 97% sold – but there is only about 30% occupancy.

 

It’s a bit of a ghost town.

 

The water pump system on the ground floor for the pools is a bit noisy – if you lived that side of the building on a low floor you might hear it.

 

If you have a room the side where the "bin storage room" is - can be a bit noisy.

 

The pool at the front you hear the racket from the boats on the river.

 

The road is busy – you hear ambulance sirens on their way to the hospital. It will get worse when the Gold Line is near to completion and completed.

 

The land next door is empty and could be sold = more noise and possible loss of view if a condo is built.

 

The buildings which face the Thaksin bridge have daylight all day = HOT!

 

You pay maybe several million for a view of the Shangri La. I have not quite worked out which building is the more “favoured” - the "South Tower" (the taller one next to the bridge and Shangri-La) or the "North Tower" - view of IconSiam and Shangri La.

 

Sheer number of units 800+ and 40+ different types is extremely confusing.

 

I'll try and add some pics later.

 

I hope this information is of help to anyone thinking of buying/renting etc.

 

RAZZ