CM Condo Rentals through the Roof!

[rumak]

  1 hour ago, canthai55 said:

When I was renting, best places were to be found by exploration.

Many sellers / owners do not advertise in the media. Piece of cardboard wired to the gate or post.

Find an area you like, and hit all the back sois.

Best deals around.

Good advice, Canthai55. I have time on my side.

 

Rumak here:   it is good advice.  Just one thing..... consider the checklist in my post above.   Good to scout around numerous times during the day or days  to get a true idea of what you will encounter in the neighborhood .  And experienced folks here will know that the owners smile when showing may not be the same later on.   

[holy cow cm]

Could it be the mortgages are higher with the electricity rates and the condo fees so you are paying all of that for them?

[Bassosa]

3 hours ago, kenk24 said:

A little too much info but I get the idea... 

 

Yes, prices have gone up and most of our currencies have gone down... and during your ten year period, there has been plenty of inflation... the entire housing market here is crazy. Actually, lack of a market. Much of what i see for sale is not selling and is seriously overpriced. I see places for sale for 6MM that I could buy the land and build new for 4 million or less. 

 

As to rentals, they move along with this unreasonable market. There are older condo buildings here that are near empty and still the rental prices do not drop. I do know a few people who have bargain rentals, but that is not easily found...

 

For as long as you have been here, you are probably most likely to find a bargain property by asking around, talk with the local ladies at the market... etc etc... good luck.

 

Reminds me of that time when I had 25k per month to spend on a condo and I walked into the Unique in Nimmanhaemin.

In that building there were about 10-12 nearly identical condos for rent for that exact price, 25k. So much supply, seemed I had hit the jackpot. 

 

No!

 

The minimal duration of stay was 3 months and I only needed it for 2 months. I couldn't even convince the reception girl to perhaps, just maybe, reach out to one of the condo owners to see if 2 months could work.

 

I wasn't able to secure a lease.

Nowadays, these same condos are advertised for 22k-23k....and still empty.

 

 

 

[1FinickyOne]

19 hours ago, Airalee said:

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.

plenty of places and fairly reasonable too... directly across from kad suan kaew there looks to be parking lot that probably has monthly

[1FinickyOne]

5 hours ago, stament said:

Big over supply and more bring built. Renters market, wouldn't buy in a million years in CM.

time goes quickly... a million will be gone in a shot.. hang in there... w/compound interest you should be in great shape by then

[1FinickyOne]

5 minutes ago, Bassosa said:

 

Reminds me of that time when I had 25k per month to spend on a condo and I walked into the Unique in Nimmanhaemin.

In that building there were about 10-12 nearly identical condos for rent for that exact price, 25k. So much supply, seemed I had hit the jackpot. 

 

No!

 

The minimal duration of stay was 3 months and I only needed it for 2 months. I couldn't even convince the reception girl to perhaps, just maybe, reach out to one of the condo owners to see if 2 months could work.

 

I wasn't able to secure a lease.

Nowadays, these same condos are advertised for 22k-23k....and still empty.

 

 

 

not at all surprising... 

[deej]

1 hour ago, rumak said:

Those that post that there are lots of houses for  5000 baht really don't understand WHY they are that cheap.   I won't bother to explain....   Rumak

 

The explanation is very simple.

(Or as you put it. i do not understand)

Supply and Demand

which presently in Cmai is over supply  .little demand.

Has it not occurred to you

that some Landlords are savvy enough. and have read the rental market correctly to accept  a 5000 Baht per month.  1 yr contract

then having a vacant house or condo  getting Zero Baht in return

Little fish  are sweet

Edited October 15, 2019 by deej

[Bassosa]

1 hour ago, kenk24 said:

not at all surprising... 

Glad it happened.

 

Made me realise that real estate in this town is all smoke and mirrors and not worth investing in.

[rumak]

5 minutes ago, deej said:

The explanation is very simple.

(Or as you put it. i do not understand)

Supply and Demand

which presently in Cmai is over supply  .little demand.

Has it not occurred to you

that some Landlords are savvy enough. and have read the rental market correctly to accept  a 5000 Baht per month.  1 yr contract

then having a vacant house or condo  getting Zero Baht in return

Little fish  are sweet

You still do not understand.   Supply and demand is equated for  EQUAL  commodities.   I gave a very simple and concise explanation pointing out the different factors involved that can differentiate one property from another.   I do agree that landlords should know what the true value of their property is and that many don't.   I do not think I am in that group as we have had a 95% occupancy rate over 10 years.   Many many houses the same size that are a little cheaper are that way for a reason.  And yes,  there are many of them available.   My tenants have friends asking them if one of our places is for rent.   There are bargains out there.  Ours is not the cheapest,  but that does not mean it is not a bargain  ????

[BritManToo]

1 hour ago, Bassosa said:

Reminds me of that time when I had 25k per month to spend on a condo and I walked into the Unique in Nimmanhaemin.

Unique are available for 13k/month and 15k/month.

https://www.facebook.com/marketplace/item/705501153238155/

https://www.facebook.com/marketplace/item/581727842358874/

Edited October 15, 2019 by BritManToo

[Lacessit]

1 hour ago, BritManToo said:

 

I only rent from Thais, foreigner landlords always ask double the rent and double the deposit.

Not to mention they're usually renting illegally, managing without a work permit, not declaring income and paying tax, etc.

I must have a jewel of a landlord, then. I have a lease to satisfy Immigration. Been renting from him for 10 years now, 46 sqm. Swimming pool. No security deposit. I pay 25,000 baht in advance for 3 months rental. No receipts, all based on mutual trust. You may be right about the income tax situation, none of my business.

His agent repairs or replaces anything that goes kaput in the condo, free. The landlord is a Brit.

Then again, he knows I will look after his property as if it was my own.

[rumak]

2 minutes ago, Lacessit said:

You may be right about the income tax situation, none of my business.

And more importantly he ( bm2) may be wrong.   Just  a broad senseless allegation made to tarnish others.

 

 

 

 

[Lacessit]

2 hours ago, rumak said:

You still do not understand.   Supply and demand is equated for  EQUAL  commodities.   I gave a very simple and concise explanation pointing out the different factors involved that can differentiate one property from another.   I do agree that landlords should know what the true value of their property is and that many don't.   I do not think I am in that group as we have had a 95% occupancy rate over 10 years.   Many many houses the same size that are a little cheaper are that way for a reason.  And yes,  there are many of them available.   My tenants have friends asking them if one of our places is for rent.   There are bargains out there.  Ours is not the cheapest,  but that does not mean it is not a bargain  ????

I have a friend who was renting a huge house off the 121. Could sleep about 20 people. About 2 acres of land, very cheap at 8000 baht/month.

BUT everything was falling to pieces. Cracking walls, leaking pipes, electrical shorts that constantly blew fuses. Especially with the aircons. The house was 15 years old.

[deej]

3 hours ago, rumak said:

You still do not understand.   Supply and demand is equated for  EQUAL  commodities.   

 

Let.s omit Supply and Demand out  of our discussion . As our views are totally different.

My initial post . was merely  a heads up for the O/P  Topic.

that Housing Propertys in good  livable conditions. are available  on the rental market in Cmai at 5000.Baht per month . 1 yr contract. and confirmed on this thread

 

Largely due to the Land Lord.s  reading the present rental  market correctly.

And are  prepared  to   lower  their monthly rental fee accordingly. to a Win. Win  sitiuation 

As for your rental property.s

etc etc  the very best of luck to you.

Sincerely wish it continue.s????

 

 

 

 

 

 

Edited October 15, 2019 by deej

[rumak]

51 minutes ago, deej said:

My initial post . was merely  a heads up for the O/P  Topic.

that Housing Propertys in good  livable conditions. are available  on the rental market in Cmai at 5000.Baht per month . 1 yr contract.

And i was merely pointing out that there are usually reasons why a property is renting for a very low price.

The OP mentions that he has certain requirements for what he would rent ( is a discerning renter not just a cheap one).   My post was not intended to be boastful and sorry if it came across as such.   But i still think your point of supply and demand is absolutely correct .   There are millions of  women available but there is a reason why some are more in demand than others.  I think the same can be said about places to live .

 

 

[rainyday]

I found it a very good deal with Joy @ Chiangmai Riverside Condo for 11.000 Baht a month / 3 months. A modern, nice and good quality 46 sqm studio fully equipped. Also kitchen fully equipped. I liked the most the included high speed internet with private router and all True Vision channels. A package worth 3.000 baht. Sadly moving out of CM next month.

[Stubby]

10 hours ago, RichardColeman said:

I know its not the same area, but my wife haggled the owner of our large 2-bedroomed house with small garden in Pattaya down from 12,000 to 9,000 baht a month - seems she was happy with the 25% reduction as the bank have been harassing her to get money back. For reasons that I can now only put down to lack of people renting, I am being offered larger properties for less money now, rather than the other way round. 

That's good to know, Richard. Seems like it might be a renter's market after all ????

[sanemax]

On 10/14/2019 at 9:26 AM, madmen said:

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

Where are the so called "desirable areas" ?

CM seems to be quite small without desirable / non desirable areas 

[Stubby]

9 hours ago, rumak said:

You are correct about  most houses having poor floor plans.  Not attractive to our western tastes.  

On the other hand I am someone who can't stand living in a box among other boxes .  I like my small garden and sense of living in my own space.   

Everyone has different opinions .  From my long tenure in the market I agree there are LOTS of rentals available.  Those that post that there are lots of houses for  5000 baht really don't understand WHY they are that cheap.   I won't bother to explain.... just let you know that mine are a bit over 10,000 and are never empty longer than a month.  One recent tenant looked at ours,  then about 20 others before coming back to rent ours .    Well, a short explanation :   the typical Farang renter would like a quiet place ( no dogs, karaoke, crazy neighbors, good floor plan,  clean and comfortable, safe, decent landlord, ETC )

The list can be longer but finding such a place is NOT easy.... hence the many problems farangs encounter after they move into that "great deal".    

I would never sign a 2 year contract as, like in a relationship,  it takes a while to catch the red flags if there are any.  And often there are.   We also would never give a 2 year lease ..... for the same reasons !

BTW:  Stubby,  I know you would like our place but we are on the far opposite side of town towards San Phii Sua.    Very convenient to everything .... but i also like Mae Hia area going out the canal road (if i was to choose another area)    I ride a bike also and that is a good spot to be.     Rumak

 

Thanks, Rumak. My budget is 10K+ so hopefully I can find another Rumak with some nice properties in my neck of the woods ???? I've got about 14 weeks to get sorted, but the search is on.

[Stubby]

8 hours ago, holy cow cm said:

Could it be the mortgages are higher with the electricity rates and the condo fees so you are paying all of that for them?

I pay government electricity charges, HCCM, and no condo (maintenance) fees. It's been like that the last 5 places.

[sanemax]

1 minute ago, Stubby said:

Thanks, Rumak. My budget is 10K+ so hopefully I can find another Rumak with some nice properties in my neck of the woods ???? I've got about 14 weeks to get sorted, but the search is on.

Why dont you state what you are looking for and maybe some people can give recommendations ?

   Some hotels give special rates within your budget for longer term stays and room cleaning and bills are included 

[Stubby]

3 minutes ago, sanemax said:

Why dont you state what you are looking for and maybe some people can give recommendations ?

I already have, Sanenax. But I'm so glad I started this topic. I had it totally wrong, and the responses have been super helpful and eye-opening. It looks like I could end up with a smashing little pad withing budget after all. I often stay in a place I like for a few years at a time, so I must have gotten out of touch with reality.

 

I just saw a 1 bed advertised on my FB page for 18,000 THB/Mo, and that's the sort of things I've been seeing. Mind you, I don't know how big that last condo was because I ignored the add. 

Stubby

[1FinickyOne]

8 hours ago, Bassosa said:

Glad it happened.

 

Made me realise that real estate in this town is all smoke and mirrors and not worth investing in.

I was talking with a friend in one of the outer provinces, describing the real estate market in CM... my hypothetical question - "how do you buy into a market like that" - he answered anyway - "You don't" 

[Lacessit]

1 hour ago, Stubby said:

Thanks, Rumak. My budget is 10K+ so hopefully I can find another Rumak with some nice properties in my neck of the woods ???? I've got about 14 weeks to get sorted, but the search is on.

For 10K, you should get a 35 -46 sqm studio in a good condo. Bigger apartments will be 15 - 20K.

There are some condos in CM that should be avoided, due to water, electrical or noise issues.

Most of the supermarkets in CM will have notice boards where landlords advertise rentals. There's always a couple at Rimping near the Nawarat Bridge.

[Stubby]

1 minute ago, Lacessit said:

For 10K, you should get a 35 -46 sqm studio in a good condo. Bigger apartments will be 15 - 20K.

There are some condos in CM that should be avoided, due to water, electrical or noise issues.

Most of the supermarkets in CM will have notice boards where landlords advertise rentals. There's always a couple at Rimping near the Nawarat Bridge.

Thanks, Lacessit. Yes, that sounds about right. Ideally, I've love 2 bedrooms, but then prices jump up considerably. Where I am, there are 2 bed condos, but the price is more than double for an extra 9 SQM. The actual living area remains the same.

[holy cow cm]

1 hour ago, Stubby said:

I pay government electricity charges, HCCM, and no condo (maintenance) fees. It's been like that the last 5 places.

Set rate which maybe be a bank lending ratee that covers their mortgage. Why would I rent a condo at a loss? Or to not make gain?

 

[Dogbarker]

21 hours ago, Stubby said:

I like newness, DogBarker, lots of glass, and elevated views.

The tiny windows and bland interiors of Thai houses don’t cut it for me. They just seem so characterless (on the inside), compared to a modern condo. I sooner have small and beautiful than big and bland, but it’s a personal preference, of course. 

Also, if there’s a problem in a condo, you go to the office and report it. Five minutes later, a bloke’s standing at the door with his box of tools. There are fewer issues with pests crawling all over the joint too.

 

But hey, never say never. If I came across a little two-bed detached that checked enough boxes, I might sign a 2-year contract on the spot. But thus far, I'm not convinced. Nor do I fancy rattling around a big ol house on my own.

Stubby

Modern condo living sounds good .. In new units .. I would prefer older ones with thick walls ....But remember  glass means extra heat to cool down and those  thin walls  and floors .. Height is fine to allow living on the smog clouds. Haha. But seriously being our moo baan there is a new one with light modern design houses  and service repairs. Moo banns support for repairs has never been an issue. Ok so I agree with bugs.. But depends on land ...  At least there is rpp. To swing a cat ...Try it out!

[Stubby]

1 hour ago, Dogbarker said:

Modern condo living sounds good .. In new units .. I would prefer older ones with thick walls ....But remember  glass means extra heat to cool down and those  thin walls  and floors .. Height is fine to allow living on the smog clouds. Haha. But seriously being our moo baan there is a new one with light modern design houses  and service repairs. Moo banns support for repairs has never been an issue. Ok so I agree with bugs.. But depends on land ...  At least there is rpp. To swing a cat ...Try it out!

I'm still not convinced about houses, but I have become more open minded than when I first started the topic. I have no idea where I'll end up, but there's certainly more optimism in the air ???? 

[cerox]

Interesting topic.

Rents have gone down significantly in my view.

I rented a condo for 3,5 years near Nimman - moving out this month.

10k THB monthly. I compared many websites like Perfecthomes etc. - same units now available at 7-8k on average. Talking about new units.

Many decent units (not new) for less, cannot remember good offers like that when I came here.

You move hear in the beginning of next year? I would suggest to wait until June. Go somewhere else first - come here in June when smoky season is over.

[Stubby]

Just saw a non-traditional house interior for rent. Not in my area, but quite a nice modern pad by the looks of it, and BIG curtains. It also has a modern kitchen area and bathroom. It's a strange ad, though, as they don't give the size of the property. Nor do they mention the number of beds, and no pics of the outside. I’m guessing its two-bedroom seeing as it’s a house.

 

At only ฿13,500 / Month, it gives hope as a lot of stuff that shows up on FB ads is 18K+. Perhaps I should start to follow a few more local agents.

 

Stubby

Edited October 16, 2019 by Stubby