98 Wireless, Bangkok

[hunghung]

I am interested in 98 Wireless.  I emailed some questions to two Bangkok property agents, but strangely I got no reply.

 

If you are familiar with 98 Wireless, please tell the location of vehicle parking (I don't see any parking entrance after watching some youtube videos on the property).

 

Also, please tell the recent transaction prices on 98 Wireless.  Do you know the problems, if any, of living in this property?  (One problem I find is that the monthly management fee is very high.)

 

Is there an online source that people can check recent transaction prices on Bangkok condos? (In Hong Kong, major property agents' websites provide transaction prices of properties that go through the agents.)

 

 

[smutcakes]

One problem to the rear is that Raimon Land are building their development so you will be right up against another building. Other problems i have heard owners mention is the lay out of the units are all very detailed, lots of small nooks and crannies, corners and difficult to fit out- design over practicality.

I am aware of a small unit perhaps 100 sqm which rented out to an expat for around 170K per month, which is very high, so obviously a market for them, albeit i would say very limited market at that level.

 

If you can pay 500K per sqm for a unit, i would of thought monthly management fee, high or not would not be to much of an issue.

 

There is no online source and no transparency in the market. Unless you are an agent selling units in the building or work for the developer/land department there is no fool proof way of knowing what the actual sales rate is.

[Pravda]

Are you a rich HK resident? 

 

Maybe you can answer a few questions for me as this has always puzzled me.

 

What is your logic for buying a 3 million dollar condo in a city like Bangkok when you can buy a better condo in a world class city like Vancouver, Toronto, Sydney, etc, etc..... for much less.Heck, for that about of money Canada will even throw a permanent residency for you.

[smutcakes]

39 minutes ago, Pravda said:

Are you a rich HK resident? 

 

Maybe you can answer a few questions for me as this has always puzzled me.

 

What is your logic for buying a 3 million dollar condo in a city like Bangkok when you can buy a better condo in a world class city like Vancouver, Toronto, Sydney, etc, etc..... for much less.Heck, for that about of money Canada will even throw a permanent residency for you.

I did not spend 3 million, but did spend around 2 million. My reason was that i live here and work here and dont want to live in Sydney, Vancouver or anywhere else or want to get on a plane. Same reason anyone would buy anything in any country.

 

If i wanted to live in those places i could, but i dont.

 

I love the lifestyle here, i like my job so why would i not buy a condo. I dont want permanent residency in Canada, the US or to live there, i am happy here.

[Airalee]

37 minutes ago, smutcakes said:

I am aware of a small unit perhaps 100 sqm which rented out to an expat for around 170K per month, which is very high, so obviously a market for them, albeit i would say very limited market at that level.

Looking at hipflat, the smallest (120 sqm) unit, lowest price (78,000,000...if they actually can sell for that)...renting for 170k puts It at 458x monthly rent.  That’s one of the worst price/rent ratios I have seen for a condo here in BKK.

They do look nice however.

 

 

 

[smutcakes]

1 minute ago, Airalee said:

Looking at hipflat, the smallest (120 sqm) unit, lowest price (78,000,000...if they actually can sell for that)...renting for 170k puts It at 458x monthly rent.  That’s one of the worst price/rent ratios I have seen for a condo here in BKK.

They do look nice however.

 

 

 

Yes it is, my rule of thumb was always for a top level condo you would get 1,000 THB per sqm rent. Rents in Bangkok for condos have hardly moved in the past 20 years when compared to capital prices that have gone through the roof. There are few condos in BKK where you could get a decent return after common area fees, insurance etc.

[Pravda]

1 hour ago, smutcakes said:

I did not spend 3 million, but did spend around 2 million. My reason was that i live here and work here and dont want to live in Sydney, Vancouver or anywhere else or want to get on a plane. Same reason anyone would buy anything in any country.

 

If i wanted to live in those places i could, but i dont.

 

I love the lifestyle here, i like my job so why would i not buy a condo. I dont want permanent residency in Canada, the US or to live there, i am happy here.

 

You spent 2 million, but you are looking to buy? 

 

Interesting... 

[smutcakes]

1 minute ago, Pravda said:

 

You spent 2 million, but you are looking to buy? 

 

Interesting... 

I'm not looking to buy, i am happy owner occupying and have no intention to buy anything else. I was simply commenting on the Poster asking about 98 Wireless.

[Pravda]

4 minutes ago, smutcakes said:

I'm not looking to buy, i am happy owner occupying and have no intention to buy anything else. I was simply commenting on the Poster asking about 98 Wireless.

 

Sorry. Got me confused with op. 

 

I'm not sure why you replied. My question was strictly to seek a point of view from a HK resident, not a westerner. 

[smutcakes]

3 minutes ago, Pravda said:

 

Sorry. Got me confused with op. 

 

I'm not sure why you replied. My question was strictly to seek a point of view from a HK resident, not a westerner. 

Ok sorry, i thought you were asking generally.

[hunghung]

3 hours ago, Pravda said:

Are you a rich HK resident? 

 

Maybe you can answer a few questions for me as this has always puzzled me.

 

What is your logic for buying a 3 million dollar condo in a city like Bangkok when you can buy a better condo in a world class city like Vancouver, Toronto, Sydney, etc, etc..... for much less.Heck, for that about of money Canada will even throw a permanent residency for you.

I am very impressed by the quality of 98 Wireless.  I doubt if you can find a condo with a higher quality anywhere in the world.  

[YT3k72Em]

Since it was the most expensive condo project in Thailand, it's not surprising that the management fee is high. I think the questioner was wondering why pay top end developed country prices for a still developing country.

 

That area has the most expensive real estate in all Thailand, yet step outside and try to walk on the footpath and it's a mess. Walk 50m to the Krungsri bank intersection and you have to squeeze through a narrow gap next to the footbridge stairs. The other side of the road is worse, the attempt at burying cables in the footpath left it a dogs breakfast.

 

Maybe people who live in 98 wireless never actually step outside the front gate on foot.

The trees are nice though.

[jackdd]

Two bedroom condo asking prices, based on the lower end of the scale:

Selling: 80,000,000

Renting: 230,000 per month

Renting it for 29 years = buying price

Usually this ratio is below 20 years for a newish place, so the selling price is too high or the rent is cheap.

Obviously buying doesn't make economical sense in this situation, unless a seller would give you at least a 30% discount on the asking price, which probably won't happen.

[Airalee]

On 8/25/2020 at 11:48 AM, hunghung said:

I am very impressed by the quality of 98 Wireless.  I doubt if you can find a condo with a higher quality anywhere in the world.  

And you know this from watching a couple YouTube videos?

[hunghung]

30 minutes ago, Airalee said:

And you know this from watching a couple YouTube videos?

Yes.  About 10 videos.

[Andy from Kent]

I think sometimes things just get out of control.

 

https://www.hipflat.co.th/en/listings/bangkok-condo-gkaprfgl

 

While some may find this a bargain I think most will not.

 

The 98 Wireless property looks stately with a pedigree address  but it looks to lack a lot of modern amenities other than a Bentley parked in front of it.

 

 

[Airalee]

46 minutes ago, hunghung said:

Yes.  About 10 videos.

That’s very impressive.  I’d say that is about equal with a degree in civil engineering.

[alacrity]

On 8/26/2020 at 3:50 PM, Airalee said:

That’s very impressive.  I’d say that is about equal with a degree in civil engineering.

Such an understatement. 10 relevant videos equate to a PhD in all disciplines.

Thought you would have known that.

[hunghung]

I got a reply from an agent.

 

Management fee is 150B/sq. m./month.

 

I asked him where one would put a washing machine and he says drainage system and the power outlet are there for a washing machine.    However, after watching many videos, I don't see where one would put a washing machine.

 

For this two-bedroom unit (https://www.youtube.com/watch?v=zr8Zp1ta6Ms) and this three-bedroom, unit (https://www.youtube.com/watch?v=rpxv3wkUSH8), where would one put a washing machine?

 

 

[OneZero]

hunghung,

Why not be patient a few years and wait to see what "One Bangkok" will have on offer intersection Wireless, Rama IV, Sathorn.    

www.onebangkok.com

 

[OneZero]

One Bangkok Office
19th Floor, Park Ventures Ecoplex, 57 Wireless Road, Lumpini, Patumwan, Bangkok 10330 Thailand

Email  [email protected]    +66 (0) 2 081 3700

I'm not associated with them at all.  I simply own a condo across the street at Lumpini Park View Condo.  In addition to the website I see the construction from my room.

 

[smutcakes]

On 9/3/2020 at 3:29 PM, OneZero said:

hunghung,

Why not be patient a few years and wait to see what "One Bangkok" will have on offer intersection Wireless, Rama IV, Sathorn.    

www.onebangkok.com

 

One Bangkok is on CPB land so will not be a condominium. They will probably call it a Leashold condo which for me is an oxymoron as by definition a condo in Thailand is where you have indivdual title deeds on land owned by the ownership. 

 

I can assure you they wont use the term 'Condominium' in the Lease agreements.

[Airalee]

On 9/3/2020 at 9:55 AM, hunghung said:

However, after watching many videos, I don't see where one would put a washing machine.

Another dozen or so videos and you should be ready to write a check.

[jackdd]

On 9/3/2020 at 9:55 AM, hunghung said:

I asked him where one would put a washing machine and he says drainage system and the power outlet are there for a washing machine.    However, after watching many videos, I don't see where one would put a washing machine.

Probably on the balcony, as is common in Thai condos.

But i guess that people who pay the money for such a condo, would also pay the money for a laundry service, thus they usually don't have a washing machine.

Same as where would you put your clothes to dry after washing them? Where do you store cleaning utensils? They don't think that the tenants would do this by themselves.

[smutcakes]

On 9/5/2020 at 1:05 PM, jackdd said:

Probably on the balcony, as is common in Thai condos.

But i guess that people who pay the money for such a condo, would also pay the money for a laundry service, thus they usually don't have a washing machine.

Same as where would you put your clothes to dry after washing them? Where do you store cleaning utensils? They don't think that the tenants would do this by themselves.

I am 100% sure that condo has space for washing machines within them and not on the balcony. They will probably be in the pokey maids quarters which you might not see much on the promotional videos.

[jackdd]

34 minutes ago, smutcakes said:

I am 100% sure that condo has space for washing machines within them and not on the balcony. They will probably be in the pokey maids quarters which you might not see much on the promotional videos.

Do you own one or how can you be 100% sure? ????

Look at this video starting at 1:55, you can see the tap for the washing machine on the balcony: https://youtu.be/iQYFFBfDjsI?t=115

If you get the penthouse it probably has a maid room, but i doubt a two bedroom unit has one.

[smutcakes]

3 minutes ago, jackdd said:

Do you own one or how can you be 100% sure? ????

Look at this video starting at 1:55, you can see the tap for the washing machine on the balcony: https://youtu.be/iQYFFBfDjsI?t=115

If you get the penthouse it probably has a maid room, but i doubt a two bedroom unit has one.

Because i have a friend who has a unit, and i know the sales people who sold them. I have a tap on my balcony, but it sure as hell is not for a washing machine.

 

You dont pay 400K + per sqm and then have to install a washing machine on your balcony <deleted>.

[YT3k72Em]

On 9/3/2020 at 9:55 AM, hunghung said:

I got a reply from an agent.

 

Management fee is 150B/sq. m./month.

 

I asked him where one would put a washing machine and he says drainage system and the power outlet are there for a washing machine.    However, after watching many videos, I don't see where one would put a washing machine.

 

For this two-bedroom unit (https://www.youtube.com/watch?v=zr8Zp1ta6Ms) and this three-bedroom, unit (https://www.youtube.com/watch?v=rpxv3wkUSH8), where would one put a washing machine?

 

 

You should ask the agent if they have hot water in the kitchen sink ????

[OneZero]

On 9/5/2020 at 9:25 AM, smutcakes said:

One Bangkok is on CPB land so will not be a condominium. They will probably call it a Leashold condo which for me is an oxymoron as by definition a condo in Thailand is where you have indivdual title deeds on land owned by the ownership. 

 

I can assure you they wont use the term 'Condominium' in the Lease agreements.

One Bangkok leasehold 300,000B/m2 30 years with slight increase for 60 yrs.

Example: 130m2 room 29th Fl is 39Mil Baht for 30 years & 41Mil Baht for 60 yrs lease.

Plus I'm sure condo fee wont be cheap.

Not for me.