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Posted
9 minutes ago, brewsterbudgen said:

Foreigners can buy condos, but only Thais can buy land/houses.

 

let's explain the rent...

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Posted
11 minutes ago, brewsterbudgen said:

Foreigners can buy condos, but only Thais can buy land/houses.

 

Obviously, but aren't you missing the point?

 

 

Posted
5 minutes ago, Swimfan said:

Greed and unrealistic expectations. A property is only worth what  someone is willing to pay for it.. People can ask what they want it doesn’t mean it is worth that much or anyone will pay that much. 

 

I know but house prices are consistently priced far less per sqm than condos in the same area.

 

I am baffled.

 

 

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Posted

Probably the townhouse is on the same land as the Condo building, therefore you only have the same rights as a Condo owner. These townhouses are usually smallish, so the price ratio seems ok to me.

As you said..both in the same location

For example there are many older Condos in the Jomtien area with this type of setup (have personal experience with this) .

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Posted
1 minute ago, 2009 said:

 

I know but house prices are consistently priced far less per sqm than condos in the same area.

 

I am baffled.

 

 

May have something to do with the age of the property. 

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Posted
2 minutes ago, couchpotato said:

Probably the townhouse is on the same land as the Condo building, therefore you only have the same rights as a Condo owner. These townhouses are usually smallish, so the price ratio seems ok to me.

As you said..both in the same location

For example there are many older Condos in the Jomtien area with this type of setup (have personal experience with this) .

 

They ain't that close. Lol. Same general area. A few sois away.

Posted
3 minutes ago, Swimfan said:

May have something to do with the age of the property. 

 

Yes, you have a point.

 

Older condos also trade at more attractive prices cos they look a bit dated and may need a lick of paint.

 

But still though, with the 2 million you'd save, you could really renovate nicely and still have change left over, not to mention the property is still almost x3 the size and in the same area.

 

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Posted
13 minutes ago, 2009 said:

I said same location. What difference does a few sois make?

 

I can think of a couple.  Strolling on Soi 6 vs. Soi 6/1 for example can make quite a bit of difference!

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Posted
5 minutes ago, 2009 said:

I think Thais just like new, fancy looking status symbols; displays of wealth. The older condos don't look like much from the outside and don't have a fancy, superior sounding name.

Good to know ????

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Posted

Even though I own a condo, I too believe that they are grossly overpriced.  That being said...
 

1.  P/E ratio and ease of rental gives them a speculative investment premium.


2. Location.  Not many houses right on Sukhumvit 

 

3.  Financing available for Thais is probably much easier to get for condos than for townhomes (especially older ones) as developers will have deals worked out with various lenders.

 

4.  Highest/Best use of land.  

 

5.  It’s not just Bangkok.  Look at the price per square foot in any major metropolitan area in the US (with some exceptions such as Manhattan) and you’ll see that it is similar to Bangkok.

 

Finally, where are you seeing 72sqm right at the PK BTS for 4mil?  I live in the area and I don’t see those prices.

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Posted
1 hour ago, Airalee said:

3.  Financing available for Thais is probably much easier to get for condos than for townhomes (especially older ones) as developers will have deals worked out with various lenders.

 

Absolutely correct. Not just for condo but property in general. Many of the new build developers (condo or house) offer financing packages that are much easier to obtain than getting a mortgage/loan from a bank for resale property. 

 

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Posted
20 minutes ago, soi3eddie said:

 

Absolutely correct. Not just for condo but property in general. Many of the new build developers (condo or house) offer financing packages that are much easier to obtain than getting a mortgage/loan from a bank for resale property. 

 

Not only are the loans easier to get, but they often come with “incentives” such as negative amortization for the first few years (you’ll see the ads on occasion where the mortgage payment is far lower than a typical 30 year fully amortizing payment).  This appears to be a good thing until the interest rate resets and the loan recasts to a fully amortizing payment that could potentially double or even triple (if they are set up the way some of the loans were structured during the US housing bubble ca. 2004-2007) leaving the borrower in a financially precarious position.

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Posted
4 hours ago, brewsterbudgen said:

Foreigners can buy condos, but only Thais can buy land/houses.

Makes no odds to me. If it goes in my wife's name and eventually our daughters, my house in the UK is secure, so my eggs would never be all in one basket - which many seem to end up with trouble with

Posted
On 4/27/2021 at 7:05 AM, baansgr said:

Does the town house have a swimming pool, ample off street covered parking, gymnasium, cleaned everyday, gardens done for them, 24 hour security and also the obvious that Foreigners can't own townhouses

 

To be fair for comparison, you must accept that those things cost a whopping additional amount. How much extra in common fees would you pay typically on that 135 m2 condo? No common fees on a typical 135m2 townhouse.

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Posted
On 4/26/2021 at 8:20 PM, 2009 said:

With a condo you don't own any land, why so expensive?

Condo ......... Priced for foreigners to buy.

House .......... Priced for Thais to buy.

 

Easy when you think about it.

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Posted
On 4/26/2021 at 8:40 PM, 2009 said:

 

I know but house prices are consistently priced far less per sqm than condos in the same area.

 

I am baffled.

 

 

what about amenities? does the house have a swimming pool, a workout room, a staff and a guard? 

 

Yes, it is paid for in maintenance fees too, but it is a different type of living.. if the roof leaks at the house, who pays to fix it?

 

In a certain way it is like comparing oranges and lemons.. just not the same style..

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Posted

The problem is that there is no easy way to get comps here in Thailand. Realtors may or may not tell you what is really going on in the market? The only way to really get an idea is to start looking at a lot of properties and comparing asking prices. Some people will put a high price on a unit and never lower it? Others want or need to sell now and are open to offers.

As an example my friend bought a condo in sriratcha 4 years ago for 4 million baht with the realtors assurance that it could be resold quickly at 5 million! A few months ago he sold it for 2.6 million. He then started shopping for a replacement. Finally finding a large pool villa in a nice gated community in another city that was listed for 8 million. He offered 4 million and after several weeks of negotiation and other offers that fell through they accepted his offer. The reason for selling was very old foreign owner in poor health. Use your own attorney to check title and have a professional inspection done. Don't accept anyones word as to condition of title or property. Good luck with your search!

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