Who Has Bought or Sold Their Own Property In The Last Few Months?

[Livinginexile]

I intentionally spelled sole that way because there is something fishy about it

Perhaps, what might be bothering you is that someone bought a condo way too far from the go-go and sleeze areas, not even Skytrain reaches to there.

Or, is the stereotype spread the world over correct - if there is Bangkok, there must be some sex deviation associated with person who has anything to do with that city?

If someone is escaping the mold, you call it "fishy".

Looks fishy allright, pic's look like a huge development with not a single sole in sight.

But then again, it is Bum Na. Who would want to live way out there anyway?

Seriously...I would not buy there even if they were offering condo's for under 1 mill. It's miles from anywhere except for the airport.

He's a bitter old sod Zorro, now we know why.

[think_too_mut]

But then again, it is Bum Na. Who would want to live way out there anyway?

"Way out there" from what?

From the Metropilitan Opera, Broadway, Gugenheim Museum, Central Park, Greenwich Village, culture, creative buzz, art galleries....?

Or from Lotus / Carefour on Rama IV, The Emporium, Central Chidlom, KFCs, Macdonalds, Cineplexes....all that, more, bigger and concentrated without hours in traffic jams in Bang Na, at (more) realistic prices.

The trouble is - some get fleeced for the proximity of 3rd world dump whorehouses (since 1999. accessible by skytrain too).

[think_too_mut]

Looks fishy allright, pic's look like a huge development with not a single sole in sight.

How about this huge development with not a single "sole" in sight. How can you tell the difference? And I know the building is full.

It's my previous address, Sukhumvit +, Phrakhanong BTS.

Then, I understood BKK city is best if avoided, nothing there worth paying any extra that is not available at the fringes (except, legendary charm and beauty of Sukhumvit Rd where you can see Thai elite and celebrities snaking between foodstalls and stray dogs, skipping over cracks in pavement while doing their expensive shopping (as elite does at, say, Chicago's Magnificient Mile avenue).

[zorro1]

I think Bum Na is a good name but without the " N"

Personally I feel very comfortable knowing I can rent it out for top $$ in sexpat territory between not 1 but 2 BTS. And Imagine Sofitel 5 star nearly finished 100m away,what were they thinking building there.. Regent hotel/residences across the street well under way, very nice stuff

[think_too_mut]

I think Bum Na is a good name but without the " N"

Personally I feel very comfortable knowing I can rent it out for top $$ in sexpat territory between not 1 but 2 BTS. And Imagine Sofitel 5 star nearly finished 100m away,what were they thinking building there.. Regent hotel/residences across the street well under way, very nice stuff

Now we have a real bum that brings and maintains that reputation of Thailand and Thai people no TOT's investment in PR has managed to disperse.

Another turn of the screw on visas, tighter than the one that severed 1 year auto renewals for condo purchases over 3 mil, might.

Where will the bums go then?

[zorro1]

You sound surprised. Sukhumvit has and always will be a crazy place the tourists love it and we all know what the boys do here. Many will retire here and like the convenience of a big city. I don't think there is any argument as to where the better re sale and rental will be. Maybe one day I will check out Bum Na if Taxi is less than 1000bht. I googled it and nothing came up, try it

[think_too_mut]

You sound surprised. Sukhumvit has and always will be a crazy place the tourists love it and we all know what the boys do here. Many will retire here and like the convenience of a big city. I don't think there is any argument as to where the better re sale and rental will be. Maybe one day I will check out Bum Na if Taxi is less than 1000bht. I googled it and nothing came up, try it

Oh, now it is you saying that all those 150K B sqm buildings along the lower Sukhumvit are within a sex tourist ghetto where boys come to do "what we know boys do here"?

When I said that, you accused me of "extreme dislike of Sukhumvit and Bangkok". Now, you can get by with the same - and - nothing!?

Small wonder then you will send your parents to stay at Novotel Bang Na to fool them the whole town has that normalcy look and feel (which it mostly does, bar 3-4 spots including both shoulders of the short time love hotel called Trendy).

You can always tell them - your home is in the same street as their hotel, it's just negligible difference in naming - what's the fuss between Soi 13 and Soi 105?

[webtv]

Looks fishy allright, pic's look like a huge development with not a single sole in sight.

How about this huge development with not a single "sole" in sight. How can you tell the difference? And I know the building is full.

It's my previous address, Sukhumvit +, Phrakhanong BTS.

Then, I understood BKK city is best if avoided, nothing there worth paying any extra that is not available at the fringes (except, legendary charm and beauty of Sukhumvit Rd where you can see Thai elite and celebrities snaking between foodstalls and stray dogs, skipping over cracks in pavement while doing their expensive shopping (as elite does at, say, Chicago's Magnificient Mile avenue).

I lived there myslef up until a few months ago.. Great place to live, although it looked empty, there was only 2 rentals in the whole building when I started my 6 month contract. I had the 2 bedroom on the 10th floor front of building for 35k per month.. nice views.

[think_too_mut]

I lived there myslef up until a few months ago.. Great place to live, although it looked empty, there was only 2 rentals in the whole building when I started my 6 month contract.

Are you sure you are talking the same place? Only 2 rentals in the building? Or you mean only 2 apartments were NOT rented?

We moved in Oct 1 2006, when the building was open, left Oct 1 2008.

370 apartments, rental office downstairs had many for resale and about 20 for rent. Carpark was almost full.

[webtv]

I lived there myslef up until a few months ago.. Great place to live, although it looked empty, there was only 2 rentals in the whole building when I started my 6 month contract.

Are you sure you are talking the same place? Only 2 rentals in the building? Or you mean only 2 apartments were NOT rented?

We moved in Oct 1 2006, when the building was open, left Oct 1 2008.

370 apartments, rental office downstairs had many for resale and about 20 for rent. Carpark was almost full.

Yes thats what i meant.. only 2 aprartments available when i was looking. I realize the place is huge, but they were all lived in / rented and I only had a choice of 2 that were available. I took the 10th floor in tower b facing the prakanong bts.. I had a 2 bedroom.

I was the only guy in the gym at 6 am.. it was great.

[McFarang]

I have just recently or should I say am buying a 5 bed all ensuite Villa large pool Jacuzzi double Car ports sea views in the south of Phuket for 11Million Baht.

2 Million Deposit & 24 Monthly instalments of 375,000 Interest Free. All done through Solicitor & Checked Land registry. Of course its not 100% mine until final payment so I have just under 2 years to see what happens with Market and Land ownership before deciding what way I should transfer the deeds.

Dont worry should owner decide to sell from under me has to pay back monies paid ++% and 1 Million compensation. Not likely to happen but you have to be careful have had verbal offer of 16Million already as I have spent a lot on the property not that much though.

I intend to live in the house with Thai Partner so dont want to sell but I am looking at this as an investment after renting for the last 4 years lesser properties at 50,000+ Per Month not sure about other parts of Thailand but I like Phuket as long as its not Patong that should be lifted up and dumped on Pattaya.

Yes its Risky but hey whats life without a few risks you are only here once.

[tangoll]

Reviving this thread...New Sansiri PLC project called Quattro on Soi 4, Thong Lor road, right next to Tops Supermarket Villa, about 500 meters from Sukhumvit Road. On 4 rai of land, 2 towers totalling 430 units. Launched by Sansiri about 2 weeks ago, and as of 9 Jan, 170 units have been booked by buyers. Launch discount running about 10% off llist price. I booked one unit on 13th floor, 1 bed/1 bath, 53 sqm, at net price of baht 130,000 per sqm. 4 year construction period, pay 30% by installments, 70% at transfer. Materials used will be of highest quality, 3 m ceillings, Grohe fixtures, etc.

Must be something special for Sansiri to launch during this period and even more so for buyers to commit and book these units. Will be interesting to see how bookings progress.

[think_too_mut]

Reviving this thread...New Sansiri PLC project called Quattro on Soi 4, Thong Lor road, right next to Tops Supermarket Villa, about 500 meters from Sukhumvit Road. On 4 rai of land, 2 towers totalling 430 units. Launched by Sansiri about 2 weeks ago, and as of 9 Jan, 170 units have been booked by buyers. Launch discount running about 10% off llist price. I booked one unit on 13th floor, 1 bed/1 bath, 53 sqm, at net price of baht 130,000 per sqm. 4 year construction period, pay 30% by installments, 70% at transfer. Materials used will be of highest quality, 3 m ceillings, Grohe fixtures, etc.

Must be something special for Sansiri to launch during this period and even more so for buyers to commit and book these units. Will be interesting to see how bookings progress.

Booking is what?

Mine was 5000B and then they produced papers and invoices 2 weeks later but the building was almost complete, no instalments, 2 months later full transfer and people moved in. Of course, more than half were booked + under installments along the way over the 3 years construction period.

I would have no nerve to buy into something 4 years distant.

[ray08]

Reviving this thread...New Sansiri PLC project called Quattro on Soi 4, Thong Lor road, right next to Tops Supermarket Villa, about 500 meters from Sukhumvit Road. On 4 rai of land, 2 towers totalling 430 units. Launched by Sansiri about 2 weeks ago, and as of 9 Jan, 170 units have been booked by buyers. Launch discount running about 10% off llist price. I booked one unit on 13th floor, 1 bed/1 bath, 53 sqm, at net price of baht 130,000 per sqm. 4 year construction period, pay 30% by installments, 70% at transfer. Materials used will be of highest quality, 3 m ceillings, Grohe fixtures, etc.

Must be something special for Sansiri to launch during this period and even more so for buyers to commit and book these units. Will be interesting to see how bookings progress.

Booking is what?

Mine was 5000B and then they produced papers and invoices 2 weeks later but the building was almost complete, no instalments, 2 months later full transfer and people moved in. Of course, more than half were booked + under installments along the way over the 3 years construction period.

I would have no nerve to buy into something 4 years distant.

In this current climate ,4 months is to distant let alone 4 years ,I am sure at thb130psm ,one can buy some very good completed units today ,

Does not matter who the developer is ,in these times it makes no sense to speculate on a gain 4 years down the line ,IMO a few developers will fold this year ,including a big name ,

If someone really wanted to buy ,i would think a completed condo would be the best way to go

[sorensen]

I just bought a 90sqm apartment on the 19th floor near Central Chidlom, 3 meter high ceilings and bright, it only cost 3,700,000 and I'm pretty happy with it to be honest.

What building is that?

[tangoll]

Booking is merely a term used to describe the process of signing a document committing you the buyer and the developer to enter into a sales and purchase agreement for a specific unit, at a specific price, payment schedule, and other conditions over materials used, term of construction, etc.

If the project were to be by any other developer besides Sansiri (even Raimon, AP, Noble, Major, etc), I would agree the risk is great. On the 4 year construction period, payment is 30% by installment, and 70% at transfer. In four years time, you're paying the 70% (4.9 million in my case) with depreciated baht, probably worth 3.5 million in today's terms. Given the location (dead end soi just off Thong Lor road, 500 meters from Sukhumvit in a popular area for owners and tenants), I could use the unit as my own residence or resell it if the market is good. It's a risk I'm willing to take. I intend to check with my insurance company to see if there is any policy that will refund me a heavy portion of payments already made in event developer goes bust or is unable to finish the project. Does anyone know if such a policy is available?

[kaxper]

I intend to check with my insurance company to see if there is any policy that will refund me a heavy portion of payments already made in event developer goes bust or is unable to finish the project. Does anyone know if such a policy is available?

i thought that with the new condo act in affect, the monies (i.e. your down payments) go to an escrow account at a bank. thanks to revert if your contract specifies this (and if not, why) ... i am pretty interested to know. thanks again.

[tangoll]

I'll be getting the actual sales and purchase agreement in a few weeks from the developer. I'll check on whether installment payments have to be placed in an escrow account, what happens in event developer goes bust or can't finish project, and let you know. For sure, under new law, resale of the purchase contract, the developer cannot charge a change name fee anymore.

Good point, kaxper.

[trajan]

tangoll....

because of new Condo Act of 2008 (and notice of Deputy Minister of Interior, July 1, 2008 referring to Section 6/2 of that new Condo Act) the developer is now required to use standard form Or.Chor.22 (Condo Purchase Agreement) when selling the condo to you...

the standard contract is now more balanced for buyers....for example, under Section 4.5 of that standard form Or.Chor.22, they are not allowed to charge a contract transfer fee (in case someone wants to buy that contract from you later).......

now if they would only make those escrow accounts mandatory (instead of voluntary), that would be a bigger step in the right direction.....

[bbahngdori]

In late September I bought a my place, Condo One X Sukhumvit 26, One bed, 51+ sq.m, for about 4000 baht over the original contract, about 83,000 THB per sq.m. I found the place through Thai real estate web site call prakard.com. No agent, just couple of Thai guys who invested together.

[donx]

In late September I bought a my place, Condo One X Sukhumvit 26, One bed, 51+ sq.m, for about 4000 baht over the original contract, about 83,000 THB per sq.m. I found the place through Thai real estate web site call prakard.com. No agent, just couple of Thai guys who invested together.

So you paid about 4,233,000 baht for the place. Are you saying that the original contract was for 4,229,000 (what you paid minus 4000 baht) or 4,029,000 baht (79,000 THB per sq.m.)?

[bbahngdori]

In late September I bought a my place, Condo One X Sukhumvit 26, One bed, 51+ sq.m, for about 4000 baht over the original contract, about 83,000 THB per sq.m. I found the place through Thai real estate web site call prakard.com. No agent, just couple of Thai guys who invested together.

So you paid about 4,233,000 baht for the place. Are you saying that the original contract was for 4,229,000 (what you paid minus 4000 baht) or 4,029,000 baht (79,000 THB per sq.m.)?

The original off plan contract was for 79,000 THB per sq.m for 51.77sq.m which was 4,089,830. I paid 200,000 over the original contract which came out to be 4,289,830.

[tangoll]

For those who are interested, my sales and purchase contract with Sansiri on the Quattro project has no name change fee anymore, but Sansiri has the unilateral right to reject any assignee to a new contract. They say they will rarely use this right and only in the case of an undesirable, but they will not be specific as to what constitutes an "undesirable". There is also no provision for an escrow account as that is voluntary on the part of the parties to the contract.

They have a one year delay provision to complete the construction, and beyond that there is a 0.01% per day penalty for delay beyond that extended deadline. If your contract amount is baht 6 million, for example, the delay penalty is only 600 baht per day.

For now, the pre-launch discount phase is over, according to them, and only slight discounts will be offered. In tower A, the one bedroom units in the middle floors have all been booked, and buyers wanting to buy one bedroom units now have to buy on higher floors, like floor 21 and up. The difference in price between a one bedroom on 13th floor and on 23rd floor is about 300 - 400,000 baht when the 15% sales discount was still being applied. Net price on 13th floor was 130,000 baht per sqm.

[BangkokWildcat]

In late September I bought a my place, Condo One X Sukhumvit 26, One bed, 51+ sq.m, for about 4000 baht over the original contract, about 83,000 THB per sq.m. I found the place through Thai real estate web site call prakard.com. No agent, just couple of Thai guys who invested together.

So you paid about 4,233,000 baht for the place. Are you saying that the original contract was for 4,229,000 (what you paid minus 4000 baht) or 4,029,000 baht (79,000 THB per sq.m.)?

The original off plan contract was for 79,000 THB per sq.m for 51.77sq.m which was 4,089,830. I paid 200,000 over the original contract which came out to be 4,289,830.

Just curious bbahngdori, what floor and what direction are you facing? Does this building allow cats? Thanks in advance!

[bbahngdori]

In late September I bought a my place, Condo One X Sukhumvit 26, One bed, 51+ sq.m, for about 4000 baht over the original contract, about 83,000 THB per sq.m. I found the place through Thai real estate web site call prakard.com. No agent, just couple of Thai guys who invested together.

So you paid about 4,233,000 baht for the place. Are you saying that the original contract was for 4,229,000 (what you paid minus 4000 baht) or 4,029,000 baht (79,000 THB per sq.m.)?

The original off plan contract was for 79,000 THB per sq.m for 51.77sq.m which was 4,089,830. I paid 200,000 over the original contract which came out to be 4,289,830.

Just curious bbahngdori, what floor and what direction are you facing? Does this building allow cats? Thanks in advance!

Sorry, BangkokWildcat. I am not sure about the pet policy in the building. I am on the 24th floor facing east. Not a bad view.

[tangoll]

BangkokWildcat, if you are interested in purchasing in Condo One X, I have a unit, 51.77 sqm, 1 bedroom, 1 bath, on 21st floor, very open view, facing West towards soi 24.

I am in Bangkok now until 5 Feb and you can call me on 085-9977170 if you wish to discuss or view my unit. I was first one to transfer and move in last August 2008. I don't know if building allows animals, and I have not seen any owner with an animal or other pet.

You can also email me at pcmar at netvigator dot com.

[BangkokWildcat]

In late September I bought a my place, Condo One X Sukhumvit 26, One bed, 51+ sq.m, for about 4000 baht over the original contract, about 83,000 THB per sq.m. I found the place through Thai real estate web site call prakard.com. No agent, just couple of Thai guys who invested together.

So you paid about 4,233,000 baht for the place. Are you saying that the original contract was for 4,229,000 (what you paid minus 4000 baht) or 4,029,000 baht (79,000 THB per sq.m.)?

The original off plan contract was for 79,000 THB per sq.m for 51.77sq.m which was 4,089,830. I paid 200,000 over the original contract which came out to be 4,289,830.

Just curious bbahngdori, what floor and what direction are you facing? Does this building allow cats? Thanks in advance!

Sorry, BangkokWildcat. I am not sure about the pet policy in the building. I am on the 24th floor facing east. Not a bad view.

Thanks bb! Very useful information for me.

Tangoll, thanks too but actually I need a 2br / 2ba. Have been living in a unit the size you're selling for many years and it's too small for me now. Good luck with the sell though.

Edited February 1, 2009 by BangkokWildcat

[dave9988]

anyone know what the deal is with noble remix?

[tangoll]

According to the developer of Noble Remix, they have temporarily stopped construction while awaiting government approval on an Econo Impact Assessment document to change the shopping mall to a serviced apartment/hotel. Completion of residential units will be by May 2009 and transfers will begin in June 2009. If you are holding a purchase contract with Noble, you can alter the spec from having wallpaper to just plain white walls. This has to be done in writing and you should contact a K. Nilobon at <nilobon at noblehome dot com>.

If you are interested to takeover a unit, you can contact me here or by email at <pcmar at netvigator dot com>. More discussion is available at prakard.com.

[jcon]

I just bought a 90sqm apartment on the 19th floor near Central Chidlom, 3 meter high ceilings and bright, it only cost 3,700,000 and I'm pretty happy with it to be honest.

Witthayu Complex is my guess... there is a reason why it is cheap... due diligence, people - due diligence....