Buying A Condo.

[guy22]

How cheap can I buy a condo for in Thailand ? $30-40,000 ? & are there any special rules or qualifications that imply for farang, American ownership ? I'm not married, nor do I have a work permit or anything of that nature. I'm completely knew to this and all I've learned thus far is to make sure the title deed is in my name, etc. I'm not looking for anything real fancy or to invest, just a simple place to live for a young single 22yo whenever I'm in Thailand, and knowing I have 100% ownership and no risk of losing it, at least for the next 50 years or so. I'd appreciate a little bit of enlightenment on this particular matter. Thanks.

[jakesideas]

You can find a condo for that price throughout Thailand and you can own it in your own name- 100%. There are many for sale and the market for condos is very dynamic. My advice is to search this forum and others for advice on how to buy and then take your time and find one you really like in a good location. Good luck.

[Casanundra]

How cheap can I buy a condo for in Thailand ? $30-40,000 ? & are there any special rules or qualifications that imply for farang, American ownership ? I'm not married, nor do I have a work permit or anything of that nature. I'm completely knew to this and all I've learned thus far is to make sure the title deed is in my name, etc. I'm not looking for anything real fancy or to invest, just a simple place to live for a young single 22yo whenever I'm in Thailand, and knowing I have 100% ownership and no risk of losing it, at least for the next 50 years or so. I'd appreciate a little bit of enlightenment on this particular matter. Thanks.

I know you are new here and so i'll try and not be too realistic for you and satisfy your rquest.

Yes you can buy a very small condo in that price range and own it 100% providing you are one of the allocated 49% foreign owners. At that price I wouldn't expect it to be in central Bangkok nor would I expect it to be anything special either, in fact I would suggest that it is more likely to be at the lower end of the spectrum with some wonderful noisy Thai's as your condo mates at that price range.

Owning it for 50 years or so years is probably totally a wild dream as the chances of a Condo in Thailand being a place you would want to own and stay in beyond several years let alone 50 is hilarious and that's assuming of course that it is still standing after that period of time. Really you want to come here and see the state of some of these places after 5 years let alone 50.

Now, let's ask another question. Do you have now or will you have a visa that will allow you stay in it for 50 years. Answer is no. Do you think you can survive in Thailand for 50 years. The answer again is probably no. Will the laws and the rules change here for better or worse during the next 50 years, you betcha!

My suggestion would be to come here, suck it and see and RENT for a while. Then once you know the score, then and only then make a purchase and even then, do so knowing full well that you can and probably will lose all of the money you have brought into Thailand. There is a saying here, do not bring into Thailand what you are not prepared to lose. If you can afford to lose $40k then do it, be our guest.

I hope that helps clarify and ratify your thoughts.

Edited February 26, 2007 by Casanundra

[thommo46]

How's them apples guy22.I have just deviated from my original plans to take up owners residency in los.

Thommo

[jakesideas]

Actually there are many nice, large condos for sale for that amount... Just grab any Thai language housing magazine listing properties and you will see. I just saw a 44 square meter place on the Thaivisa classified section for 850,000 baht or $22,000- this is in Onnut area which is very centrally located in BKK. Then there is another one for sale further down for 350,000 baht or $10,000 in Ramkamheang which is also an excellent section of BKK with lots of restaurant, food options- a student area- I lived in that area for a year- it's fantastic. Granted these are both fairly small condos and the buildings probably don't have swimming pools but they are also much less than the amounts Guy22 asked about.

The poster wasn't asking about the visa situation, weather he could find work or the investment potential of purchasing property in Asia. Those are all different topics and can and have been discussed in length. And we don't know his situation in those regards.

One thing that I can agree with Casanundra is that it would be good to rent a place at first so you get a look around and find the right place in an area that you like.

Edited February 26, 2007 by jakesideas

[guy22]

How cheap can I buy a condo for in Thailand ? $30-40,000 ? & are there any special rules or qualifications that imply for farang, American ownership ? I'm not married, nor do I have a work permit or anything of that nature. I'm completely knew to this and all I've learned thus far is to make sure the title deed is in my name, etc. I'm not looking for anything real fancy or to invest, just a simple place to live for a young single 22yo whenever I'm in Thailand, and knowing I have 100% ownership and no risk of losing it, at least for the next 50 years or so. I'd appreciate a little bit of enlightenment on this particular matter. Thanks.

I know you are new here and so i'll try and not be too realistic for you and satisfy your rquest.

Yes you can buy a very small condo in that price range and own it 100% providing you are one of the allocated 49% foreign owners. At that price I wouldn't expect it to be in central Bangkok nor would I expect it to be anything special either, in fact I would suggest that it is more likely to be at the lower end of the spectrum with some wonderful noisy Thai's as your condo mates at that price range.

Owning it for 50 years or so years is probably totally a wild dream as the chances of a Condo in Thailand being a place you would want to own and stay in beyond several years let alone 50 is hilarious and that's assuming of course that it is still standing after that period of time. Really you want to come here and see the state of some of these places after 5 years let alone 50.

Now, let's ask another question. Do you have now or will you have a visa that will allow you stay in it for 50 years. Answer is no. Do you think you can survive in Thailand for 50 years. The answer again is probably no. Will the laws and the rules change here for better or worse during the next 50 years, you betcha!

My suggestion would be to come here, suck it and see and RENT for a while. Then once you know the score, then and only then make a purchase and even then, do so knowing full well that you can and probably will lose all of the money you have brought into Thailand. There is a saying here, do not bring into Thailand what you are not prepared to lose. If you can afford to lose $40k then do it, be our guest.

I hope that helps clarify and ratify your thoughts.

I don't plan to stay in Thailand for more than a year at a time, if that, & there's no doubt that I'll be returning with a work permit, etc. This is only for part-time living for when I'm in Thailand. It would actually be easier for me to own my own place, than have to worry about having enough $ to pay rent every month, and all the other hassles that come with it. If all I have to pay is a $60 maintenance fee or w/e, then I wouldn't even have to work or worry about money as much. I've already experienced renting out a condo for a few months in Bkk, & I think I'd much rather have my own place. If anybody will be a noisy neighbor, then it'll probably be me. Realistically, I don't plan to use any one condo for more than 5-10 years, till I can do better, I just want to make sure I'm not going to lose something shortly after blowing alot of money, till I've used it to my satisfaction & decide what I want to do with it.

[guy22]

How's them apples guy22.I have just deviated from my original plans to take up owners residency in los.

Thommo

What the hel_l are you talking about ? Do we know eachother ?

[guy22]

Am I even making any ###### sense on here, because I literally wake up every morning and come up with these plans in a matter of minutes. It personally sounds brilliant to me, but I'd like to hear other people's point of view, and please elaborate. Is it even easy to buy a condo, and then leave it for several months at a time, but still pay your maintenance overseas, etc. I may even consider renting it out to ppl while I'm away, if they'd even want to stay in some 40k condo. I do plan to fix it up nice though. So how does this sound ? I've liked jakesideas replies so far.

[thaigene2]

guy22

It's ok..everyone comes at it from their own perspective. What Cassanundra is pointing out is that, while jakesideas is correct in the fact that there are plenty of places at the bottom end of the spectrum - in Bangkok - most farangs wouldn't want to live there.

These are the crumbly Thai 'apartments' with the bars on the windows and the steel doors. They are everywhere. You said you were American - think south Chicago or east-central LA and you'll get the idea of the housing quality (but with nicer neighbours). Also as a farang you'll stick out like a sore thumb - that also sets you up for robbery.

I think you'd find that owning is in fact MORE hassle than renting when you come here. It's also a lot cheaper in the long run to rent - as the price-to-rent-versus-purchase-return-ratio is lower.

When you are here only occasionally, you will be leaving your place unattended (I assume, as many farangs wouldn't want to rent a place like that above). You can almost bet someone will break in, live there for ahile then steal whatever they can - not necessarily in that order!

Try selling it when you get tired of it..and wonder very loudly to yourself whether you'll be able to work here in the near future..I'd say it's going to get tougher and tougher..especially for someone your age. They only want professionals now - and even then they are really picky.

Sorry - but if I were you (kind of wish I was actually..well 22 again anyway) I'd rent and have a 'ball' (renting also means you can scram quickly when required - to escape vengeance from GFs, etc).

Good luck..

[quiksilva]

lol yup I agree with ThaiGene.

Small units like that are also really, really hard to sell and are much more likely to decrease in value.

Why?

Well, the value will depend upon several factors, but for secondhand condo's this mostly boils down to the quality of the property management from which your demand is derived.

The majority of these buildings tend to be poorly managed by themselves or local firms who have difficulty collecting Common Area Maintenance Fees (aka Body Corporate Fees) from the owners which are used for the general upkeep of the place. Over time this leads to depreciating quality of common areas and facilities, and hence even fewer transactions.

The other factor is that these condos mostly attract a Thai market, and the Thais dont like to buy secondhand. Hence intolerably long void periods on the sales process and / or heavilly discounted resale prices.

Renting them out to a dependable tenant would be equally difficult.

So if you are not going to be here full time and were going to throw money away anyway, you may as well pay rent.

Edited February 27, 2007 by quiksilva

[dave111223]

How will you pay the monthly service charge if you are out of the country?

You think the office staff will actually go to Western Union to pick it up each month? If you mail it in you know it will just end up in someones pocket, and you'll still own the money.

You'd have to pay up front enough to cover however long you'd be away, and that wouldn't be so cheap anymore.

[backflip]

"How will you pay the monthly service charge if you are out of the country?"

Some condos allow you to transfer money from your account to thier's on a given schedule. I prefer to prepay the monthly fee on an annual basis.

[dave111223]

"How will you pay the monthly service charge if you are out of the country?"

Some condos allow you to transfer money from your account to thier's on a given schedule. I prefer to prepay the monthly fee on an annual basis.

Condos in the 30K-40K (1.05M - 1.4M baht) price range may not be accustomed to accepting international money transfers.

Edited March 1, 2007 by dave111223

[think_too_mut]

"How will you pay the monthly service charge if you are out of the country?"

Some condos allow you to transfer money from your account to thier's on a given schedule. I prefer to prepay the monthly fee on an annual basis.

Condos in the 30K-40K (1.05M - 1.4M baht) price range may not be accustomed to accepting international money transfers.

There must be some way. Just look at those mamouth places like View Thalay in Pattaya. Tens of thousands of units and the owners pay their levies somehow, without being there.

The places (when purchased) were in that price range.

To the OP : rent, my opinion.

[mbkudu]

To the OP : rent, my opinion.

The above statement always puzzles me. I hear and read it all the time. The reason it puzzles me is because I also hear and read this opposing statement: "Don't bother trying to rent a place out; it's too hard to find tenants."

What gives?

Edited March 1, 2007 by mbkudu

[thaigene2]

To the OP : rent, my opinion.

The above statement always puzzles me. I hear and read it all the time. The reason it puzzles me is because I also hear and read this opposing statement: "Don't bother trying to rent a place out; it's too hard to find tenants."

What gives?

Depends on what it is. A condo in suk or aree or silom, probably no problem finding a farang/japanese if the price is right. But seriously, do you think Thais professionals rent? I don't. I think they buy...and they prefer only new-build, not used.

I know a few thais in my workplace that own small condos - and were buying more to rent out -- to whom? "Farangs"

A 1 million baht studio "condo" (read crumbling apartment building with soi dogs for security)? Who's going to rent that? Maybe 6 bargirls - for 5,000 baht per month? Good luck collecting the rent...of course they could pay in other ways I guess

Edited March 1, 2007 by thaigene2

[dada]

I went ahead a year and half ago and bought a 84 M sq bedroom beachfront condo for 1.5 million. I figure it was good move, even with the association fee its always there for me when I need it.

[guy22]

I just feel like renting is wasting too much money, which I can't really afford. It all adds up over time. If I'm going to be spending so much time in Thailand, and eventually even staying once I get the proper qualifications, I don't see anything wrong with owning a condo there. But it sounds like I should try to do better than 40k if I don't want to be in a complete ghetto, which I don't really mind, although I don't feel like getting my shit robbed. I'm definitely taking everyones advice here under consideration and have more to think about. Thanks.

[dong]

I just feel like renting is wasting too much money, which I can't really afford. It all adds up over time. If I'm going to be spending so much time in Thailand, and eventually even staying once I get the proper qualifications, I don't see anything wrong with owning a condo there. But it sounds like I should try to do better than 40k if I don't want to be in a complete ghetto, which I don't really mind, although I don't feel like getting my shit robbed. I'm definitely taking everyones advice here under consideration and have more to think about. Thanks.

[dong]

I just feel like renting is wasting too much money, which I can't really afford. It all adds up over time. If I'm going to be spending so much time in Thailand, and eventually even staying once I get the proper qualifications, I don't see anything wrong with owning a condo there. But it sounds like I should try to do better than 40k if I don't want to be in a complete ghetto, which I don't really mind, although I don't feel like getting my shit robbed. I'm definitely taking everyones advice here under consideration and have more to think about. Thanks

Guy If you have got the money go ahead and buy a condo ,I go 4 times a year, and the inconvenence of getting and paying for hotels etc, I decided to buy one,, 2 bedroom 77sq 1.3ml, I go back this month to finalize everything, When you think about it, its always there when you need it,

(And no its not in the ghettos)

[adaedone]

Well, I have a condo for sale. it is 55 sq meters from the Rachatewi BTS station. It is so new it will not be completed until June 2007. The price for the 23rd floor according to the builder is 85,000 baht per sq meter. That price is negotiable. Swimming pool on roof, fitness center, key card security, and separate shower and bath. It will be very nice, at the very least a class"B" condo. I may be interested in a partner to share and we could rent as a serviced apartment while not using, many options for me. I want to sell part or whole because my Thai wife and I are developing property near Khon Kaen... my number on Skype 1 (586) 630-3192. My email is adaedone @yahoo.com. I will be in BKK on March 24, 2007 and I have a Thailand Mobile number. If interested contact me for more information. Thank You

Edited March 8, 2007 by adaedone

[Casanundra]

Well, I have a condo for sale. it is 55 sq meters from the Rachatewi BTS station. It is so new it will not be completed until June 2007. The price for the 23rd floor according to the builder is 85,000 baht per sq meter. That price is negotiable. Swimming pool on roof, fitness center, key card security, and separate shower and bath. It will be very nice, at the very least a class"B" condo. I may be interested in a partner to share and we could rent as a serviced apartment while not using, many options for me. I want to sell part or whole because my Thai wife and I are developing property near Khon Kaen... my number on Skype 1 (586) 630-3192. My email is adaedone @yahoo.com. I will be in BKK on March 24, 2007 and I have a Thailand Mobile number. If interested contact me for more information. Thank You

I think this would be a little out of the ops price range unless of course the price is negotiable by a few million. ;-)

Also at that price you can get a better Condo in a better location, for example Manhatton Chidlom is a Grade A property and looks far better too for around the same price for a room bigger than this one. I pass the Condo you are selling on Rachatwei on a daily basis as I tootle to and from work and I personally wouldn't want to pay over 4 million baht to live there as it looks more like an office block than a Condo. But each to their own of course but I guess the plus is that it is close to Siam and MBK. Good luck selling it though.

[adaedone]

The condo is built by the same company that built City Walk on Sukhumvit. Very nice. I know that Major Development company that designed the Manhattan Project has designed other very nice projects. I was in BKK in January and that development was more money. And I remember seeing one 58 sq meter unit for sale on the ninth floor, (mine is on the 23 rd floor in Building A) and the price was for 4.6M baht. And if they say that that project is Grade A then so is mine. I thought projects like the Raffine, and the Lakes, and Langsaun were grade A. I like the location of that project but it is further to the BTS. My project is sold out and I paid less for it, so yes it is negotiable but not 2 M baht less. The Realtor that I talked to said I should sell for 81,000 baht per sq meter whereas the builder said 85,000 per sq meter. The 10 year old building across the street with the red trim is selling for about 70,000 baht per sq meter for mid floor. I really do not want to sell it, I would love to keep but my wife and I are going to build a 40 room building with 30 - 40 sq meter rooms for factory worker near Khon Kaen, and that project will costs about 8million baht so I need to free up some money. Thanks for your input.

[trajan]

adaedone...does your unit in building A face the skytrain station? If so, dont forget that that side will likely be completely blocked by a massive wall of a 35-story hotel project slated to come up on that adjacent corner plot of land.... this may effect value if the buyer is concerned about any kind of view...

the East-facing side of building A seems safe for now (other than the 25-story Siam Address building coming up a few buildings away), but that immediate adjacent plot of land is almost empty....so I wouldnt be surprised if another hi-rise blocks that side also in the not so distant future....

Edited March 9, 2007 by trajan

[adaedone]

Well my unit is facing the skytrain but it is near the back of the building so when you look straight down you would see Coco Walk, so unless they are going to get rid of CoCo walk there should be no building blocking my unit and if it does that might be okay because some of those buildings below are in pretty bad shape.. That project on the other side is another AP Thai project and they offered me pre-marketing pricing because I am a customer now. which I could not afford. That building is more money than what I paid and they are asking a pretty sum for the higher floors and they are getting it, as a matter of fact all the smaller units are sold out. The CEO to the AP Thai company was educated in Detroit, Michigan.... where i live. And the main foreman for my project also did City Walk on Sukhumvit which is high quality. Eventually that whole area square from Childom BTS to Siam BTS to Rachatewi BTS and then down Petchburi back towards Pratunum will all be built up with new buildings. The only thing that will separate them will be the canal that supports water taxi's which is a selling factor because the residents of my building can visit Pratunum or BoBe Market and other sites easier than taking the BTS, less walking and less expensive. Thanks for your imput.

Edited March 9, 2007 by adaedone

[adaedone]

You are so right. I am coming back to BKK in a few weeks and so many hotels are booked, I am having a hard time finding a place. I may hit BKK and take a VIP bus out the next day? Wouldn't it be nice to have your own place that is new and really by todays prices, not that expensive. But as you say 1M baht will not cut it.

[adaedone]

Well, I have a condo for sale. it is 55 sq meters from the Rachatewi BTS station. It is so new it will not be completed until June 2007. The price for the 23rd floor according to the builder is 85,000 baht per sq meter. That price is negotiable. Swimming pool on roof, fitness center, key card security, and separate shower and bath.

Here is a pic of the condo when completed.........

[manhattanchidlom]

I have a 21st floor 58sqm unit at Manhattan Childlom for sale at 90,000 baht per sq metre negotiable. Pls pm or email me at [email protected] unit has unobstructed views of central world plaza/hotel and partial royal sporting club view. Completion july 2007, art deco style architecture and designed by Palmer and Turner. Stone's throw away from Park Chidlom. Pls go to http://www.majordevelopment.co.th for more information.

[Casanundra]

I have a 21st floor 58sqm unit at Manhattan Childlom for sale at 90,000 baht per sq metre negotiable. Pls pm or email me at [email protected] unit has unobstructed views of central world plaza/hotel and partial royal sporting club view. Completion july 2007, art deco style architecture and designed by Palmer and Turner. Stone's throw away from Park Chidlom. Pls go to http://www.majordevelopment.co.th for more information.

Ok how negotiable, what are the hidden costs, i.e. transfer fee, electricity metre, and up front maintenance costs etc...

Basically what price are we 'really' talking here?

Which unit are we talking, e1, d1, d2, e2?

Edited March 11, 2007 by Casanundra

[trajan]

there is a 58sq meter 1 bedroom unit at the Manhattan Chidlom on sale for less than 80,000 baht per square meter.....see hamptons.co.th... (baht 4.6 M unit)

the Manhattan is really on Petburi Road not Chidlom Road and a bit far from the Chidlom skytrain station .....