Anyone trying to sell condo?

[OneZero]

19 hours ago, newnative said:

      My partner and I toured Ashton Asoke.  It's a beautiful project but it was out of our price range.  I certainly hope some accommodation can be reached.   I feel like once a project is finished and people are living there, the city has lost its chance to object to a building and demand it be torn down.  The time to inspect, halt construction, and possibly revoke a construction permit and cancel a project is before or during construction, not several years down the road after a project is done.    

Whatever resulted, a few years back, from the city's decision / notice that a high rise condo on Raum Rudee had to be torn down?  I think the reason was the same, namely that the street out front, Raum Rudee I guess, was not wide enough (for what, firetrucks, the density of the condo?).

 

I don't live in Bkk now so perhaps I just missed any followup / blowback that might have been in the news. Anybody have an update on that one?

[bert bloggs]

On 7/25/2021 at 9:30 PM, HashBrownHarry said:

Sure you can.

 

Almost everyone selling their property think it's worth than what it actually is.

 

I was told a house i owned and sold ( 2011 ) was worth 8m, i got 5m for it.

Our son baught a house 18 months ago ,bank valued it at 4.7 million he paid 3.5. On mortgage

[Halfaboy]

It is not the first time that there are problems with licences for a Bangkok condo. Parts of the 24 story Aetas Bangkok Hotel need to be demolished after finding that construction of the hotel violated the law. Not sure if demolition was done already.

 

[Damrongsak]

On 7/31/2021 at 12:57 AM, OneMoreFarang said:

The way she understood and I understood it from her it's about access roads to the building. It seems those "roads" are smaller than they should be.

 

My interpretation is that this is maybe a question of possibly fire engines access. 

It's a bit confusing as it involves setback, possibly road width and the fact that they are using some MRTA right-of-way, which shouldn't have been allowed for private use.

[MrJ2U]

On 7/10/2021 at 2:06 PM, sucit said:

This isn’t the time to sell. I would be patient. RE is booming in the west. It stands to reason that pattern may work it’s way here in the near term. 

Most Thai buyers want a new condo. In the west there happy to buy old and fix it up. 

[Halfaboy]

But in the west we do not have Ghosts....

Maybe they are there but they do not play such an important role.

[OneMoreFarang]

8 hours ago, Halfaboy said:

But in the west we do not have Ghosts....

Maybe they are there but they do not play such an important role.

I was informed by a Thai ghost expert (my gf) there are ways to convince those ghosts to leave. But first of all she would have to spend a night is such an apartment to know if there are any ghost and which ghosts...

[chrisandsu]

1 hour ago, OneMoreFarang said:

I was informed by a Thai ghost expert (my gf) there are ways to convince those ghosts to leave. But first of all she would have to spend a night is such an apartment to know if there are any ghost and which ghosts...

Then you will own another long term ghost 

[OneZero]

On 8/1/2021 at 11:58 AM, OneZero said:

Whatever resulted, a few years back, from the city's decision / notice that a high rise condo on Raum Rudee had to be torn down?  I think the reason was the same, namely that the street out front, Raum Rudee I guess, was not wide enough (for what, firetrucks, the density of the condo?).

 

I don't live in Bkk now so perhaps I just missed any followup / blowback that might have been in the news. Anybody have an update on that one?

A notorious example is the Aetas Residence -- a 20-storey hotel and serviced apartment on Soi Ruamrudee in Pathumwan district. On Dec 2, 2014, the Supreme Administrative Court ordered the BMA to demolish the upper levels of the project's buildings, saying it breached a Building Control Act clause that limits buildings constructed on roads narrower than 10 metres to eight storeys.

The court ordered the demolition to be completed within 60 days of the verdict, and the BMA has repeatedly pledged to carry out the job. Governor Aswin had even publicly estimated that the demolition would cost around 200 million baht, which would be shouldered by the developer.

That said, six years on, the building is still standing.

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That said, six years on, the building is still standing.

[copa8]

On 7/10/2021 at 8:05 AM, HAPPYNUFF said:

Thai logic.....A two storied house diagonal from us

That's just seller logic, in general. Not specifically only Thai.

[copa8]

On 7/24/2021 at 9:49 AM, Pravda said:

"Additional economic data shows 99.9% of Thai people have less that 10 million baht in bank accounts."

BHT10 million is about US$300k! Even tho it's 99.9%, it's still relatively not that bad compared to "The 2018 Retirement Savings survey found that 42 percent of Americans have less than $10,000 saved."

[chrisandsu]

3 hours ago, copa8 said:

BHT10 million is about US$300k! Even tho it's 99.9%, it's still relatively not that bad compared to "The 2018 Retirement Savings survey found that 42 percent of Americans have less than $10,000 saved."

The 10 million baht is nonsense . The vast majority will be lucky if they have 10000 baht . 

[OneMoreFarang]

2 hours ago, chrisandsu said:

The 10 million baht is nonsense . The vast majority will be lucky if they have 10000 baht . 

But technically it's correct.

That reminds me of my friend who is nearly 80. If anybody asks him how old he is he tells them: over 50. ???? 

[Jingthing]

8 hours ago, copa8 said:

BHT10 million is about US$300k! Even tho it's 99.9%, it's still relatively not that bad compared to "The 2018 Retirement Savings survey found that 42 percent of Americans have less than $10,000 saved."

The mainstream advice by financial advisors in the U.S. is that people need a cool million dollars to retire which is why so many people think they won't ever be able to retire which also fuels interest in retiring abroad. 300K USD can definitely work for retirement abroad in a number of places including Thailand if you also have a modest pension. 

[Yellowtail]

4 hours ago, chrisandsu said:

The 10 million baht is nonsense . The vast majority will be lucky if they have 10000 baht . 

 

Not big on arithmetic huh? 

 

 

[chrisandsu]

9 hours ago, Yellowtail said:

 

Not big on arithmetic huh? 

 

 

Go on explain Einstein ? 

[chrisandsu]

You are right I misread the post I replied to . There is no edit or delete option now for some reason .  

[Yellowtail]

14 hours ago, chrisandsu said:

You are right...

First time for everything....

[JustAnotherHun]

On 7/23/2021 at 5:36 PM, HashBrownHarry said:

Thais buy property in Thailand too, you do realise that, right?

I do. As you could read easily in my posting. Try again :)

[beaufoy]

On 7/11/2021 at 4:02 AM, robblok said:

Think it is about location in my area i can easily get 1.5 the value of what i paid for it originally. But then again a big shopping center and a sky train were build. Those were not there 15 years ago. Now its a far more desirable place. I think its often the luck of a draw how an area develops.

There is skill you can look at plans to extend the sky train and buy something which will have sky train service in a few years. Be careful though I bought a house in Hang Dong because an electric railway was planed ...but it was cancelled

[beaufoy]

On 8/1/2021 at 3:52 PM, MrJ2U said:

Most Thai buyers want a new condo. In the west there happy to buy old and fix it up. 

easier to get mortgage on new. Farangs pay cash so S/hand OK

[pattayadude]

On 7/10/2021 at 2:22 AM, Mac Mickmanus said:

That would rely on sellers exchanging their felang money to buy a Condo when the Baht was sky high a few years ago .

   I would suggest that the majority of felangs bought their Condos when the Baht was much lower than it currently is 

bought in VT6 in 2006 $= 39thb and sold in 2012 $=31thb.. sweet!

[pattayadude]

On 8/3/2021 at 8:19 PM, OneMoreFarang said:

But technically it's correct.

That reminds me of my friend who is nearly 80. If anybody asks him how old he is he tells them: over 50. ???? 

no worries..bar girls are either too drunk or too young to know the difference!

Edited September 1, 2021 by pattayadude

[Pravda]

On 8/4/2021 at 10:12 AM, Jingthing said:

The mainstream advice by financial advisors in the U.S. is that people need a cool million dollars to retire which is why so many people think they won't ever be able to retire which also fuels interest in retiring abroad. 300K USD can definitely work for retirement abroad in a number of places including Thailand if you also have a modest pension. 

 

I don't know about US, but I know that in Canada I absolutely don't need 1 million to retire as I could live on government pension as long as I have my own property. Everything in Canada is pretty much free or heavily discounted for people over 65. Medication, transportation, food, even housing if you don't own it. It's quite the opposite actually if I want to retire in Thailand. I'd actually need a million to retire here if I'm over 65 as I get zero benefits and trupple the expenses, especially when it comes to healthcare.

Edited September 1, 2021 by Pravda

[robblok]

8 hours ago, beaufoy said:

There is skill you can look at plans to extend the sky train and buy something which will have sky train service in a few years. Be careful though I bought a house in Hang Dong because an electric railway was planed ...but it was cancelled

Yea that is why my house shot up in value, suddenly a central and a sky train were build. But i bought it way before that was ever known. 

 

The moment you know others know too so there is a chance it is already calculated in the price.

[prchunter]

I just went thru 10 pages of this thread and I still don't have an idea what the real estate market in Bangkok is like????  

I do plan on visiting Bangkok around dec to start looking at apartments in between asoke thru ekkamai BTS.  Ideally less then 200m away from the BTS station.  Are there any resources online in english that can help with my research?  My understanding is that it is currently a buyers market so the hope is to get a nice apartment building at a significant discount from pre covid prices.  

[lkn]

3 hours ago, prchunter said:

Are there any resources online in english that can help with my research?  My understanding is that it is currently a buyers market so the hope is to get a nice apartment building at a significant discount from pre covid prices

There are a few real estate sites, for example https://www.hipflat.com/ — you can enter your requirements like price, number of rooms, district, BTS station, etc. and then use the map view to get a good overview.

 

As for significant discount though: Monthly expenses are generally pretty low in Thailand, so most people would rather just have the unit empty and wait it out, than sell at a significant discount. But of course, you could be lucky and find someone in a hurry.

[PFMills]

On 7/10/2021 at 4:35 PM, BritManToo said:

11 years ago I was getting 50 to the pound .......... so 10%.

Doesn’t that only work if you are going to take your money back to where it came from.

 

We bought our house at 72thb/gbp but I don’t look at that as a profit, just that maybe I wouldn’t be able to afford it now… back to sleep soon.hopefully.

[OneMoreFarang]

4 hours ago, lkn said:

There are a few real estate sites, for example https://www.hipflat.com/ — you can enter your requirements like price, number of rooms, district, BTS station, etc. and then use the map view to get a good overview.

These sites are good to give an overview about which buildings are in which area and a rough idea about the prices.

But unfortunately many of the listed properties are not available anymore. It seems agents just keep them listed to get contacts.

Recently a friend wanted to check some of those properties and according to him about 80% were not available anymore.

[Pravda]

5 hours ago, lkn said:

As for significant discount though: Monthly expenses are generally pretty low

Not anymore. The average for new condos is 65 baht per square meter a month. Old derelict condos are not much better because of cost overruns. Still no tax tho, but I'm sure broke government will introduce it.