1 hour ago, scubascuba3 said:

The other option is go to visit the condo blocks you like and ask at the office which are for sale, some are a well kept secret, in others they have lots for sale of which many haven't been lived in for years. 

 

Otherwise all you will get is Nirun, Karot 9, Spanish Place, Lalana etc

Yes, those are familiar names..if you do a nationwide search in bahtsold for condos under a million, you will see some in those buildings.  Let's see some cheapies in a building less than 10 years old...likely some kind of <deleted> they were selling to the Russians..small, too, with locations not as good as the fabled Spanish Place.  899k 22 sm, view of a hill, or worse, and Soviet style architecture with a few palm trees.  Would seem like paradise if you were coming out of the cold.

4 hours ago, ExpatOilWorker said:

I agree, Bangkok dominate the sub- million baht market, but 30 m2 is available in Hua Hin for just under a million. 

 

https://www.kasikornbank.com/th/PropertyForSale/property/Pages/detail.aspx?propID=058801769

It appears that as usual (including all the other linked condos) the banks are selling the shabby stuff and holding on to the good stuff.

 

Someone has already beaten them on price for the Huahin unit.

 

https://www.hipflat.com/listings/prachuap-khiri-khan-condo-czwskphh
 

Needs a gutting (as does the bank owned unit) but the location isn’t bad.

 

This is currently the least expensive condo for sale (on hipflat) in Bangkok....฿169,000
 

https://www.hipflat.com/listings/bangkok-condo-bnncovci

18 minutes ago, Airalee said:

It appears that as usual (including all the other linked condos) the banks are selling the shabby stuff and holding on to the good stuff.

 

Someone has already beaten them on price for the Huahin unit.

 

https://www.hipflat.com/listings/prachuap-khiri-khan-condo-czwskphh
 

Needs a gutting (as does the bank owned unit) but the location isn’t bad.

 

This is currently the least expensive condo for sale (on hipflat) in Bangkok....฿169,000
 

https://www.hipflat.com/listings/bangkok-condo-bnncovci

Yeah, the bank's Hua Hin units appear to have some serious water damage. 

 

 

1 hour ago, Airalee said:

This is currently the least expensive condo for sale (on hipflat) in Bangkok....฿169,000

'Yes, Paypal will do nicely'

Serious is this right? Or are some of the listings confusing price and downpayment?

2 hours ago, moontang said:

Soviet style architecture with a few palm trees. 

"A highly sought-after Mediterranean Brutalist development" is how a UK estate agent (=realtor, real estate agent) would put it.

47 minutes ago, onebir said:

'Yes, Paypal will do nicely'

Serious is this right? Or are some of the listings confusing price and downpayment?

People were buying condos with credit cards in Denver metro..late 80s.  Nice condos outside of Boulder for 25-30k..now worth 180k.  There was an entire section of the Sunday Denver Post dedicated to REO.

1 hour ago, onebir said:

'Yes, Paypal will do nicely'

Serious is this right? Or are some of the listings confusing price and downpayment?

Yes..believe it or not, it’s right.  I’ve looked before and these are the units that will rent for about ฿1,000-1,200.  The P/E ratio is good but can you imagine the headache of needing to own dozens of them to have a modest income?  The common (monthly) fees are in the neighborhood of ฿300 per some of the listings.

 

99% of the units listed at these low prices are in fact down payments (it will say so in the ad) on condos...some as low as 450-500k condos...which are actually much nicer than the ones actually for sale at these prices.

 

Here’s the cheapest I could find on DD property....฿149,000

 

https://www.ddproperty.com/en/property/ทรัพย์-บสส-รหัส-8z1829-ห้องชุดพักอาศัย-กรุงเทพมหานคร-149000-for-sale-7336233

 

So, if your girlfriend won’t stop pestering you to buy her a condo...show her ones like these.

 

 

 

 

 

 

 

There are some for 80k in Phatum Thani on the krungsriproperty site.  Eventually, the courts/tambon will step in and raise the fees enough to keep the water flowing.

On 10/8/2020 at 4:15 PM, kingofthemountain said:

For someone intersted to buy on this market, the real bargain will be here in 4-5 months

after the ''high season'' with 0 tourists.

even better bargains will be found a year from now, after a whole year with 0 tourists and 20-30 devaluation of the baht (35-38 baht to USD)

On 10/9/2020 at 2:27 AM, newnative said:

Why not price it at a true bargain and get it sold and off the books?

because than the bank will have to write the loss in his books.

if banks in thailand would list the real value of all their bad loans assets, they

will be worth much less. so the banks prefer to keep the property for sale for years

at a higher price, this way it shows higher value in the books.

3 hours ago, Airalee said:

It appears that as usual (including all the other linked condos) the banks are selling the shabby stuff and holding on to the good stuff.

 

Someone has already beaten them on price for the Huahin unit.

 

https://www.hipflat.com/listings/prachuap-khiri-khan-condo-czwskphh
 

Needs a gutting (as does the bank owned unit) but the location isn’t bad.

 

This is currently the least expensive condo for sale (on hipflat) in Bangkok....฿169,000
 

https://www.hipflat.com/listings/bangkok-condo-bnncovci

this even cheaper :  

https://www.hipflat.com/listings/bangkok-condo-blvogexp

26 minutes ago, SCOTT FITZGERSLD said:

this even cheaper :  

https://www.hipflat.com/listings/bangkok-condo-blvogexp

Read the description in the ad.  That is a down payment on a ฿2,266,000 condo

81,000 

 

https://www.krungsriproperty.com/ContentPage.aspx?asset=ABZ0575

2 hours ago, Airalee said:

So, if your girlfriend won’t stop pestering you to buy her a condo...show her ones like these.

English vocab teachable moment: "this is called a 'fixer-upper'"

3 hours ago, Airalee said:

So, if your girlfriend won’t stop pestering you to buy her a condo...show her ones like these.

Why even to bother?

Just change the girlfriend for a better looking younger and less greedy model

same as for the apartments it is currently a buyer's market, still better to rent imo

 

6 hours ago, moontang said:

81,000 

 

https://www.krungsriproperty.com/ContentPage.aspx?asset=ABZ0575

Anybody want to go halfsies?

6 hours ago, moontang said:

81,000 

 

https://www.krungsriproperty.com/ContentPage.aspx?asset=ABZ0575

The Thai real-estate market is truly for everyone, but this unit kind of underscore that there are no value for money or good deals to be found on the bank foreclosure listings.

4 hours ago, ExpatOilWorker said:

The Thai real-estate market is truly for everyone, but this unit kind of underscore that there are no value for money or good deals to be found on the bank foreclosure listings.

I wonder if one could fill the room with storage lockers and rent them out to expats.

15 hours ago, Airalee said:

Here’s the cheapest I could find on DD property....฿149,000

 

https://www.ddproperty.com/en/property/ทรัพย์-บสส-รหัส-8z1829-ห้องชุดพักอาศัย-กรุงเทพมหานคร-149000-for-sale-7336233

I was living in China ('Tier 2' city) for much of 2019, and I'd idly* check out the local estate agents now and then. The only 'apartment' I saw for less than RMB200k (~USD30k) looked like it was about this standard. IIRC it was 20m2 & about USD25k.

 

*Idly because foreigners in China on a tourist/study visa can't buy property... & everything was horribly expensive.

Compare that 81000 unit to living in Seattle and paying that much for one month..and being afraid to go outside because of ANTIFA.

On 10/19/2020 at 11:55 PM, SCOTT FITZGERSLD said:

even better bargains will be found a year from now, after a whole year with 0 tourists and 20-30 devaluation of the baht (35-38 baht to USD)

I concur.  

As of October 2020 Kasikorn have 70.3 billion baht listed on their repossessed real-estate listing. Let see how that number is looking in 6 months time.

 

1060 units 0-1 million baht

4740 units 1-5 million baht

1730 units 5-10 million baht

1020 units 10-50 million baht

120 units above 50 million baht

7 minutes ago, ExpatOilWorker said:

As of October 2020 Kasikorn have 70.3 billion baht listed on their repossessed real-estate listing. Let see how that number is looking in 6 months time.

 

1060 units 0-1 million baht

4740 units 1-5 million baht

1730 units 5-10 million baht

1020 units 10-50 million baht

120 units above 50 million baht

There is some 1  Trillion - Yes that is rillion with a capital T worth of empty property in Bangkok and surrounding Provinces alone.

Heaven only knows what the National figure would be, if calculated ,and with the addition of all the Commercial Property and Installations added on.

55 minutes ago, ExpatOilWorker said:

As of October 2020 Kasikorn have 70.3 billion baht listed on their repossessed real-estate listing. Let see how that number is looking in 6 months time.

 

1060 units 0-1 million baht

4740 units 1-5 million baht

1730 units 5-10 million baht

1020 units 10-50 million baht

120 units above 50 million baht

Is that what they have already repossessed?  

 

What about the properties currently in process, and then those currently under mortgage stress? (missed repayment/s)

 

As you say, the numbers will balloon in the months ahead.  

1 hour ago, Leaver said:

Is that what they have already repossessed?  

 

What about the properties currently in process, and then those currently under mortgage stress? (missed repayment/s)

 

As you say, the numbers will balloon in the months ahead.  

Yes, that is real-estate that Kasikorn already have repossessed and since Kasikorn now is the owner of said 70 billion baht of property it appears it is no longer (fully) listed as NPL.

 

Kasikorn is reporting 94.4 billion in NPL, but of that only 20% is real-estate related.

 

https://kasikornbank.com/en/IR/FinanInfoReports

49 minutes ago, ExpatOilWorker said:

Yes, that is real-estate that Kasikorn already have repossessed and since Kasikorn now is the owner of said 70 billion baht of property it appears it is no longer (fully) listed as NPL.

 

Kasikorn is reporting 94.4 billion in NPL, but of that only 20% is real-estate related.

 

https://kasikornbank.com/en/IR/FinanInfoReports

Thai smoke and mirrors will not be able to spin this away.  

BAM and JMT might be worth checking out for any bargain hunters since they will soon sit with a lot of cheap property they need to sell.

 

https://www.reuters.com/article/us-thailand-economy-debt/buyers-of-thai-distressed-assets-plan-big-purchases-as-debt-payment-holiday-ends-idINKBN27719E

“The amount of debt being sold in the market is so great that we don’t have time to choose,” he said, noting it had acquired debt with a face value of 12 billion baht at an average 84% discount in the first half.

Dream home in Phuket: https://www.bam.co.th/propertydetail/54645

40 m2 for 900k baht in Pattaya.

 

https://www.bam.co.th/propertydetail/3616

9 minutes ago, ExpatOilWorker said:

40 m2 for 900k baht in Pattaya.

 

https://www.bam.co.th/propertydetail/3616

That's not new for that condo, I've seen a couple bigger units for less than 1m