City Home Ratchada and City Living

[Number 6]

I'm curious what living is like in the above mentioned condos.

 

Years ago I'd glanced at City Home just walking the area but stopped short due to all the Africans loitering about in the front area. The exterior of the building looks a bit pokey, but there seems to be some reasonably priced rentals. Entrance on soi 10, end of which is a bit sketchy but nothing truly worrisome. Loads for sale.

 

City Living appears you can only enter via Pacharatbampen. Grounds low a bit disrepair, lobby is dated. Occasionally a reasonably priced condo comes up for sale but given it's difficult location, there's going to be better. The balconies are nice.

 

Neither are especially close to mrt but not wholly inconvenient.

 

 

Any info appreciated

[moontang]

1. Figure out the cost per square meter and go from there.  Even the hard headed Thais will come down or assume full responsibility for transfer fees, once they realize you are serious.  Otherwise, this forum is loaded with life long renters, who need to justify their conundrum.  As long as you will hold it several years; it is a great way to put some cash to work.  Pretty easy to get the equivalent of 5%, tax free, and fees are a lot less than moving it you want to go abroad for a few months.  Just distinguish between a property that needs a paint job and a toxic association.

Edited June 3, 2018 by moontang

[watcharacters]

 

With all those negative impressions would you even consider living there?

 

 

[dddave]

11 hours ago, moontang said:

life long renters, who need to justify their conundrum.

Yup, That's me.  

Noisy or obnoxious neighbors?  I can leave. Want a change of scenery? I can leave.  No condo association with inevitable snarly politics, no corrupt management, no arrogant juristic person, no emergency assessments, no worries of another building rising 20 feet from my window....

[Bang Bang]

1 hour ago, dddave said:

Yup, That's me.  

Noisy or obnoxious neighbors?  I can leave. Want a change of scenery? I can leave.  No condo association with inevitable snarly politics, no corrupt management, no arrogant juristic person, no emergency assessments, no worries of another building rising 20 feet from my window....

Absolutely. And for the financial POV why it's a waste to buy see my post:

 

[moontang]

5 hours ago, Bang Bang said:

Absolutely. And for the financial POV why it's a waste to buy see my post:

 

sure, you can justify renting for specific places, but I would say it is highly likely you. would find a better place for 3-4 million, and maybe not that was t place but 20K is a lot to throw away on rent in BKK.  Equities carry a lot of risk now and so does the euro and the Pound.  5-8% returns are hardly automatic anywhere right now.

[jackdd]

16 hours ago, moontang said:

sure, you can justify renting for specific places, but I would say it is highly likely you. would find a better place for 3-4 million, and maybe not that was t place but 20K is a lot to throw away on rent in BKK.  Equities carry a lot of risk now and so does the euro and the Pound.  5-8% returns are hardly automatic anywhere right now.

65sqm near victory monument for 3-4 million? I think impossible unless it's a run down building.

If the sale price of a condo is 3-4 million the rent would be somewhere in the 13-17k range, then factor in the maintenance fees, rennovations, furniture and we are talking about 4% per year. And you stay completely flexible while renting.

[Bang Bang]

22 hours ago, moontang said:

sure, you can justify renting for specific places, but I would say it is highly likely you. would find a better place for 3-4 million, and maybe not that was t place but 20K is a lot to throw away on rent in BKK.  Equities carry a lot of risk now and so does the euro and the Pound.  5-8% returns are hardly automatic anywhere right now.

3-4 million? You're not serious. A 1-bedroom pigeon hole in a new low-rise project in the vicinity is asking 6mil.

 

And apartments similar to mine in the same building rent nowadays for 30k/mth. I pay 20k because I've been here 9 years (even then I started at 25k and then negotiated down on subsequent longer and longer leases).

 

So don't kid yourself. Rent in Bkk is dirt cheap compared to purchase.

 

You're absolutely right about individual equities. But I am not talking about these. If you read my post in the other thread I am meant the S&P 500 in the long run. Both points are critical. Index to average your risk and then the average rate of return per annum is indeed more than 6%. Just cover your backside for the occasional recession and you're good to go.

[moontang]

But the rent advocates always seem to have their decision on specific properties.  Sure, you can find properties better to rent in any market.  You just stated your place is more like 30...,so you may be one lease away from a big increase.  Chinese will take 3% yields in some areas, because they are betting on long term appreciation.  Appreciation that will only be realized, when they sell and the career renters are booted.  Short term in some inflated area, like VM..sure, rent...but look at the long run.  I just bought my 10,th home...third in LOS..all with profits from other homes, but I once had a rent control studio by the Berkeley BART...a lifelong achievement for some.  But, left 25 years ago, and what was 225 then, is 1450 now.  It was a house divided into four units that sold for 400,000 in 2000, but now worth 2 million.  I like stocks, too, but you still need a long term place to sleep and get your mail.

[Bang Bang]

1 hour ago, moontang said:

I like stocks, too, but you still need a long term place to sleep and get your mail.

I thought I explained to you, very slowly and with numbers, that you can have both. And something leftover for the booze and the babes.

[moontang]

and you feel like you are entitled to something extra for being there nine years...just the same notice anyone else gets, when there rent is jacked, the place sold, or the owners daughter wants to move in.  

[Metapod]

I lived at city home ratchada soi 10 before. Area is fine and I rarely if ever saw any africans there. The africans tend to hamg around the sois behind fortune town. I havent been to soi 10 in a while so maybe ifs changed. 

[Number 6]

Thread is a bit derailed. My impression and my interest? Well the large number of somewhat reasonably priced condos in an area we like.

 

I'm very ok with renting in Thailand. In fact, I wouldn't even buy in US until that bubble pops as well. My rent is nothing.. Another reason I hold out is I hope they change law to allow foreign single family home ownership. Another reason is I don't know if I want to spend the rest of my life in BKK.

 

Finally, the biggest reason is I hate the condo designs here.

 

Thanks for the tip of transfer fees

 

Edited June 8, 2018 by Number 6

[moontang]

8 hours ago, Number 6 said:

Thread is a bit derailed. My impression and my interest? Well the large number of somewhat reasonably priced condos in an area we like.

 

I'm very ok with renting in Thailand. In fact, I wouldn't even buy in US until that bubble pops as well. My rent is nothing.. Another reason I hold out is I hope they change law to allow foreign single family home ownership. Another reason is I don't know if I want to spend the rest of my life in BKK.

 

Finally, the biggest reason is I hate the condo designs here.

 

Thanks for the tip of transfer fees

 

did you buy in the US the last time the bubble burst?  I bought three...paid 22,000 for a loft style condo and rented it out for 580, while working on another house I bought for 18,500, while making 18 per hour at a part time job.  But did the life long renters buy?  Nope, actually more of them came off the fence and bought  deep into the bubble.  Did the folks with the liar letters from the US embassy finally bring money over here at 40 or 50 THB to the Dollar...nope.  

Edited June 9, 2018 by moontang