CM Condo Rentals through the Roof!

[Stubby]

Good afternoon, forum.

 

I plan to move on in the New Year and have been looking at condo prices these past weeks. It seems that they’ve gone through the roof. Heck, I see tiny 32 SQM 1-bed joints average 12,000 THB, and more in some cases.

 

THE RAPID RISE IN RENTALS

 

My first condo here ten years ago was a 60 SQM corner room with a view on Nimmanhaemin for 9,000 THB/Mo. Next was a 54 SQM pad in a quiet soi near CM university for 7,000 THB/Mo. I then moved into a 32 SQm brand new place for 10,000 THB/Mo. It was high-quality throughout, but poor design, so I only stayed for one year. The TV was just too close to the couch for comfort, with no room to move back.

 

MOVING ON

 

I then moved to Mae Hia in a similarly sized new place,  but with views to die for and a massive lake in the middle. This one has cost me 9,000 THB/Mo. I’ve been here for four years. However, it’s getting more occupied, and now i have neighbors. The problem is that the walls are paper thin (probably to save costs). Seriously, I can hear pee drop into the toilet next door each time someone visits the loo. I could probably headbutt my way into their bedroom, that's how thin the partition are.

 

TIME FOR CHANGE

 

So, I plan to move on again in the New Year. The idea is to stay as close to the countryside as possible, preferably in Mai Hai. I love to cycle, and this part of town is perfect for that. But I can't believe my eyes as I browse through local rentals. Heck, even some 30SQM joints are going for 15,000 THB/Mo. Unbelievable!

 

MORE FOR LESS

 

Perhaps I’m not searching the right way? I was hoping to spend a bit more this time and invest in a little extra living space. Alas, it seems that condos are getting smaller yet more expensive. Surely demand isn’t higher than supply, not with so many empty units all over the province. What’s going on out there, folks?

 

MEDIUM-TERM RENTALS

 

Anyway, it’s never too soon to start looking around at potential options. I tend to stay in a place for 3–4 years if I’m happy there. I don’t fancy a house as I find the Thai homes soulless inside. A bit like a garage without cars and ramps in the middle. Also, it’s not always easy to get a problem fixed if the landlord isn't around. There are also more security vulnerabilities with houses when left unoccupied.

 

DO LET ME KNOW

 

Anyway, if anyone knows any modern, reasonably-priced condos around Mae Hia way, do let me know. Especially any that are tucked away off the beaten track. I don’t mind being some distance from local amenities. An older building is also okay if the units inside are modern-ish.

 

SO, HIDDEN GEMS, ANYONE?

 

I’ll also be on the lookout as I travel around, and may use an agency nearer the time if needs be. But anyway, there’s no harm in posting here. One never knows. Someone might—just might—know of, and happy to share, a hidden gem or two between now and my next move.

 

Best regards,

 

Stubby

Edited October 14, 2019 by Stubby

[fhickson]

well...any apartments under approx 10k a month your going to get a standard cookie cutter box style room, maybe the view out the window or presence of a balcony will differ between units.

[Airalee]

When I look at condos for rent in Chiang Mai, I notice that since 2012 prices have gone down for the same/similar units.  This includes Punna, Unique, Mountainfront and Mountainview.

Same prices at Twin Peaks and Resort as that time too. 

 

Not sure where you are getting your numbers from.

Edited October 14, 2019 by Airalee

[cheeryble]

There's certainly been competition with all the new buildings but they are much of a sort......the 32 sqm sort you don't like. They and even most of the bigger ones look good at first but in fact are pretty low quality, narrow hallways , melamine kitchens, cheap fittings etc.

Older buildings in very good locations have more advantages and places like Skybreeze are in great demand with all the advantages of a terrific saltwater pool and walks and rides through CMU campus and up the hills via very nice student eateries and coffee shops. 

[Airalee]

8 minutes ago, cheeryble said:

There's certainly been competition with all the new buildings but they are much of a sort......the 32 sqm sort you don't like. They and even most of the bigger ones look good at first but in fact are pretty low quality, narrow hallways , melamine kitchens, cheap fittings etc.

Older buildings in very good locations have more advantages and places like Skybreeze are in great demand with all the advantages of a terrific saltwater pool and walks and rides through CMU campus and up the hills via very nice student eateries and coffee shops. 

Skybreeze is definitely a hidden gem.  Great area too.  I rented at Punna close by and negotiated my rent down from 15,000 to 14,000 for a 2 year contract back in 2012.  Now...exact comparable unit (same floor plan, size, view, etc.) is now asking 13,500 for a 1 year lease.

 

http://chiangmaiproperties.co.th/EN/condo/rent/Fully-furnished,-1-bedroom-condo-with-1-bathroom(s)-and-pool-in-Punna-Residence-4-@-CMU,-Suthep,-Mueang-Chiang-Mai/C2737.aspx

 

A buddy of mine rented the unit 2 floors below this one (carbon copy) at Mountainview for 15,000 in 2013.  Now can be had for 13,000.

 

http://chiangmaiproperties.co.th/EN/condo/rent/Fully-furnished,-1-bedroom-condo-with-1-bathroom(s)-and-pool-in-Mountain-View-Condo,-Chang-Phueak,-Mueang-Chiang-Mai/C2764.aspx

 

Prices definitely haven’t been going up when comparing apples to apples.

[madmen]

Yep op is right. I had a look a month ago and DESIRABLE areas off the charts

[Airalee]

15 minutes ago, madmen said:

Yep op is right. I had a look a month ago and DESIRABLE areas off the charts

No they aren’t.

 

How are the Lazy-Boys?

[Bassosa]

Rental prices are definitely down in the established high quality buildings around town.

It's a buyers market, especially out of season.

[BritManToo]

Look at the facebook marketplace property rentals in Thai, very cheap.

Decent places from 2,500bht.

 

https://www.facebook.com/marketplace/item/507181329858436/

 

https://www.facebook.com/marketplace/item/180431169206745/

Edited October 14, 2019 by BritManToo

[Pattaya46]

deleted. (after quoted post modified)

Edited October 14, 2019 by Pattaya46

[ChipButty]

Im in Phuket and I can tell you condo prices have gone down maybe over supply you can get a brand new condo for 9000 Baht with a pool look in the FB groups for your area might have more luck, LTR market is well down this year

[ChipButty]

3 minutes ago, Pattaya46 said:

… by day ? 

No bye the hour

[ChipButty]

Look here on Airbnb some places might look familiar to you 

 

https://www.airbnb.com/s/Chiang-mai/homes?refinement_paths[]=%2Ffor_you&search_type=search_query&checkin=2019-11-01&checkout=2019-11-30&adults=1&children=0&toddlers=0&infants=0&guests=1&source=structured_search_input_header

[ChipButty]

Itsaris Guest House , 2 bedroom apartment +veranda ฿10,231 

per month

/ month

Long term you maybe get a better deal

 

https://www.airbnb.com/rooms/31525652?adults=1&check_in=2019-11-01&check_out=2019-11-30&source_impression_id=p3_1571044434_QIeiF3bqdD40qwJ1

Edited October 14, 2019 by ChipButty

[Stubby]

Well, it seems like I'm looking in the wrong places going by the response so far.

 

Perhaps pounding the streets is better than the online search.  I have no intention of moving back into town, even if there are bargains aplenty. It's become to busy, too loud, and crowed for me. I left Bangkok to get away from that nonsense. That does limit my options somewhat, though. I'll keep searching anyway.

 

Thanks for the input thus far ????

[tabarin]

What are you talking about? Rents for condos in CM has been decreasing as it is less busy, as well for houses. There is loads of offers too.
Maybe stop dealing with those agents that only tell you about high priced once, they get a month commission, that's why they pretend so.

You can get a 30 sqm ish unit, even with pool, from as little as 4-5K a month already. Newer buildings from 6-7K a month.
If you need me to help you sort out, send me a PM.

Edited October 14, 2019 by tabarin

[Stubby]

3 minutes ago, ChipButty said:

Itsaris Guest House , 2 bedroom apartment +veranda ฿10,231 

per month

/ month

Long term you maybe get a better deal

 

https://www.airbnb.com/rooms/31525652?adults=1&check_in=2019-11-01&check_out=2019-11-30&source_impression_id=p3_1571044434_QIeiF3bqdD40qwJ1

Thanks, ChipButty. I never thought to look on airbnb. I thought, in my ignorance, that it for short stay holiday makers.

 

[Airalee]

18 minutes ago, BritManToo said:

Look at the facebook marketplace property rentals in Thai, very cheap.

Decent places from 2,500bht.

 

https://www.facebook.com/marketplace/item/507181329858436/

 

https://www.facebook.com/marketplace/item/180431169206745/

I think those new units you posted a while back (you took a photo while walking around) were probably the best bargain I’ve seen in CM.

 

I wonder how much it would cost me to get garage parking somewhere in CM.  Even subletting a spot at someone’s condo would be cool.  Don’t want a car in Bangkok but would love to be able to tour northern Thailand in something fun.

[sillyfool]

in the coming months you should be paid to live in CM. 

[tabarin]

1 minute ago, sillyfool said:

in the coming months you should be paid to live in CM. 

Hence the lower rates and loads of available properties too (aside of visa nonsense).

[bkk6060]

OP sorry, you seem to be incorrect.

Just checked a popular rental site and there are almost 500 properties for rent at 8k or less in CM.

100's more 8 to 12 k.

I have seen newer 2 bedroom houses for around 10 k and less 20 minutes outside the city of CM. Nice places with yards.

My experience is except lower Sukhumvit in BKK, rents are down in the bigger cities over the past 5 years.

Especially in Pattaya 8 to 10 k very decent places.

Just too many empty properties everywhere.

[Stubby]

1 minute ago, bkk6060 said:

OP sorry, you seem to be incorrect.

Just checked a popular rental site and there are almost 500 properties for rent at 8k or less in CM.

100's more 8 to 12 k.

I have seen newer 2 bedroom houses for around 10 k and less 20 minutes outside the city of CM. Nice places with yards.

My experience is except lower Sukhumvit in BKK, rents are down in the bigger cities over the past 5 years.

Especially in Pattaya 8 to 10 k very decent places.

Just too many empty properties everywhere.

Fair enough, Bkk6060, I stand corrected. Perhaps I should stop searching on agent sites. Got a few new ideas now ???? I'm thinking around the 12K+ mark, so perhaps there's hope after all. It's the area that might pose a few challenges, but lets see what crops up ????

[tabarin]

3 minutes ago, bkk6060 said:

OP sorry, you seem to be incorrect.

Just checked a popular rental site and there are almost 500 properties for rent at 8k or less in CM.

100's more 8 to 12 k.

I have seen newer 2 bedroom houses for around 10 k and less 20 minutes outside the city of CM. Nice places with yards.

My experience is except lower Sukhumvit in BKK, rents are down in the bigger cities over the past 5 years.

Especially in Pattaya 8 to 10 k very decent places.

Just too many empty properties everywhere.

Got a 2BR house with garden, pool in village, brand new + furnitures complete for 8K monthly and 15 mins out of town. No noise, no dogs, nothing.
Rent is inexpensive in CM, always been, one of the reasons I once moved here too, low monthly overhead for the basic needs.

Edited October 14, 2019 by tabarin

[madmen]

1 hour ago, Airalee said:

Skybreeze is definitely a hidden gem.  Great area too.  I rented at Punna close by and negotiated my rent down from 15,000 to 14,000 for a 2 year contract back in 2012.  Now...exact comparable unit (same floor plan, size, view, etc.) is now asking 13,500 for a 1 year lease.

 

http://chiangmaiproperties.co.th/EN/condo/rent/Fully-furnished,-1-bedroom-condo-with-1-bathroom(s)-and-pool-in-Punna-Residence-4-@-CMU,-Suthep,-Mueang-Chiang-Mai/C2737.aspx

 

A buddy of mine rented the unit 2 floors below this one (carbon copy) at Mountainview for 15,000 in 2013.  Now can be had for 13,000.

 

http://chiangmaiproperties.co.th/EN/condo/rent/Fully-furnished,-1-bedroom-condo-with-1-bathroom(s)-and-pool-in-Mountain-View-Condo,-Chang-Phueak,-Mueang-Chiang-Mai/C2764.aspx

 

Prices definitely haven’t been going up when comparing apples to apples.

That's still crazy money for Chiang mai and for a studio with nice view of burning fields

[Airalee]

2 minutes ago, madmen said:

That's still crazy money for Chiang mai and for a studio with nice view of burning fields

There was no studio in my linked listings.  Nor were there views of burning rice fields.  I had a beautiful, sweeping, unobstructed Doi Suthep view over CMU.

 

 

[sanemax]

1 hour ago, madmen said:

Yep op is right. I had a look a month ago and DESIRABLE areas off the charts

Odd that you would be looking for  condo to live in CM , considering that you hate the place and are always stating how good Pattaya is and how bad CM is .

   Odd that you would be looking to live in CM

[deej]

Presently their is a over supply of Rental Condo.s in Cmai.

Due to very few renters available . to take up  the slack . that has been rising steadily in the past few yrs for a multitude of reasons.

O/P you are in the pole position.  to name your own price that u feel .is a good deal  between both partys.

A  Win .Win situation so to speak.

From my own observations 

most Owners are asking at least 20%  over a Win Win  price

Very best of luck????

 

 

 

[madmen]

3 minutes ago, sanemax said:

Odd that you would be looking for  condo to live in CM , considering that you hate the place and are always stating how good Pattaya is and how bad CM is .

   Odd that you would be looking to live in CM

How's living with mommy in the UK? thats a good woman that gives her son a safety net when things go pear shaped ☺

 

I don't like CM your right but a mate from oz said he wanted a month in CM And a month in bkk but I switched him from CM to Jomtien where he gets a great seaview and all the fun in pattaya very close

[madmen]

15 minutes ago, Airalee said:

There was no studio in my linked listings.  Nor were there views of burning rice fields.  I had a beautiful, sweeping, unobstructed Doi Suthep view over CMU.

 

 

50 sqm is still very small for that price

[Airalee]

Just now, madmen said:

50 sqm is still very small for that price

Then I suppose prices have further to fall.