Condo Prices Bangkok

[FritsSikkink]

On ‎8‎/‎31‎/‎2020 at 5:34 PM, baansgr said:

Pattaya prices are down 50%, BKK will surely follow if not by more.

Pattaya is very dependent on tourists, BKK a lot less.

[squawkorama]

On 9/5/2020 at 9:10 AM, smutcakes said:

I used a lawyer called Sathien (Dennis) Hemsin from BIA Law. Very reasonable. Reviewed the SPA agreement, did customary DD on title (easy as a condo) and executed the title transfer at the LD.

 

Really nice guy, non flashy and dull as dishwater which is exactly what i want in an accountant or lawyer.

Thanks. Do you mind if I ask if it was recent and what you paid in fees? 

[smutcakes]

7 hours ago, squawkorama said:

Thanks. Do you mind if I ask if it was recent and what you paid in fees? 

The day at the LD for the transfer was 20,000 THB set fee if it took one hour or all day. 

 

Other stuff cannot recall but very reasonable and his overall demenour gave me confidence.

[Harveyboy]

On 9/1/2020 at 11:38 PM, RoadWarrior371 said:

Wishful thinking....????

yes agree i own a condo near Pattay i expected thr prices to have  fallen dramatically but nope ..ive been on line and checking with agents if anything still overpriced..  

[dddave]

On 9/5/2020 at 4:33 PM, Nanaplaza666 said:

can buy a nice house for that money as well maybe not your neighborhood but wouldn't be to far from it

I very much doubt you would find a house, even a tumbledown shell of a house anywhere within greater Bangkok for anyway near that kind of money.  It's not about the house; it's about the land the house sits on and land prices in greater Bangkok are sky high. 

In my not upscale neighborhood: Phra Khanong, A 230 s/m vacant lot on Pridi 26, recently sold for 12 million.   

[moontang]

3 minutes ago, smutcakes said:

Umm no thanks. Looks like a piece of <deleted> and its in the US. Would prefer to move to Pakistan than live in the US.

Not as beautiful as a nice concrete monstrosity 30 traffic lights from a filthy beach, but you would actually own the land, with insured title, and rent it out for as much as the 4 million THB concrete one.

[Why Me]

My rule of thumb is if I can rent a place for less than 5% the buying price then it makes no sense financially to buy. Which translates to a buying price more than 240 times the monthly rent. Bkk condos seem to be going mostly for 1 1/2 to twice that. 

 

The reason for the 5% is that the market averages a return of 7% (inflation adjusted) in the long run. So, if the asking price is more than 240 x rent, then invest what you would have used to buy, use the return to pay the rent plus a tidy profit. My principle at any rate.

 

Of course, no pride of ownership, no right to paint the bedroom pink or remodel the kitchen.

Edited September 7, 2020 by Why Me

[moontang]

26 minutes ago, Swimfan said:

Looks like Trump territory.

Hillary got 7.3% in the county in 2016.  

[squawkorama]

On 9/5/2020 at 2:47 PM, Andyfez said:

Hipflat give some basic figures on many condos.

They are interesting, bearing in mind that they are crowdsourced and skewed in various ways.