Thinking of buying a condo in Bangkok

[LarrySR]

7 hours ago, prchunter said:

I also figure now is a good time to snatch up a condo in the heart of Bangkok.  From what I've gathered from my research it is tough to resale your condo.  Right now am just trying to figure out whats the best way to go about this.  I would want a 2 bedroom that is no more then 200 m from a bts station.  Ideally located between Asok and Ekkamai as I figure these condos tend to maintain their value even after a couple of years.  Any advice?  

Location, location, location. That would put you on Soi 55. 

Visiting the building and checking the bulletin board (if they have one) units for sale by owner.

Asking management, next best approach but be aware, they are often incentivized to show certain units...not necessarily all the units, best units or units that fit your requirements.

They might just waist your time, showing only the rooms where they get a nice fee.... 

 

The HIPFLAT website will present a good selection for you to explore and show the asking price history in the building. You can get a good idea of what the owner has paid for said rooms and make your offer.

Edited October 18, 2021 by LarrySR

[Yellowtail]

9 hours ago, prchunter said:

I also figure now is a good time to snatch up a condo in the heart of Bangkok.  From what I've gathered from my research it is tough to resale your condo.  Right now am just trying to figure out whats the best way to go about this.  I would want a 2 bedroom that is no more then 200 m from a bts station.  Ideally located between Asok and Ekkamai as I figure these condos tend to maintain their value even after a couple of years.  Any advice?  

Don't for a two bedroom make sure you don't get anything smaller than 100m^2, and make sure it has at least two baths. Corner unit on a high floor with a great view from both windows. 

 

People are desperate now. you should be able to get something very nice for 1-2M 

[newnative]

On 10/2/2021 at 11:09 PM, brianp0803 said:

I am very interested in your ability to sell ( I would be happy if break even).  That is my major concern to buying.  I am sure I would stay at least 5 years - otherwise renting is find

 

How long did it take to sell?  How long did you have it before selling?

I think I want at least 60 sq meters for 2 people.  Currently renting in 45 sq meters and I want larger.

I am looking at moving to a bigger condo (85 sq meters with patio), but the shuttle goes from 8:00 - 5:00.  Not early enough for going to work and ending too soon.  But a taxi was on about 5 minutes (45 Baht) to Askok BTS)  I think thinking it is time to buy a car or motorcycle

      Sorry to be so tardy in replying.  The condo I mentioned in my post was 24sqm.  We bought off-plan and paid 2.4MB, so 100,000 a sqm.  The developer paid the closing costs and sinking fund for early buyers.  We were actually the very first buyer to go to closing. 

     The condo came unfurnished and we fixed it up very nicely, adding a number of custom built-ins and a partition.  The bathroom was very small and we changed the door to a sliding door, which helped some.  Although it was tiny, this was one of my favorite renovations as it was such a big challenge to get everything I wanted and it turned out well. 

    We had the condo for less than a year when we came to the conclusion it was too small and too far from the MRT station and we decided to sell it.  My Thai partner and I were friendly with the condo staff and they had seen the condo when it was done so they knew how it looked.  We let them know we were thinking about selling it. 

    Before we got around to listing it, the condo staff alerted us that a buyer who had come to the front desk looking for a condo might be interested.  We showed him the condo, he loved it, and he bought it.  Young Chinese buyer.  We made about 300,000 baht in profit.  I'll be the first to agree this was an atypical sale. 

     We weren't expecting a big profit having held the condo such a short period.  Also, no matter how nice a condo looks, we have found that there is an upper price limit to what a condo will command when there are others also available in a project.  We were able to make a small profit with this condo because we started with a low price to begin with, having bought off-plan.  Then we made the condo very desirable compared to others in the project, didn't over-price it, and it found a buyer quickly.  The timing helped, too--we sold in the first part of 2019, before covid. 

     Having sold a number of condos here and in the US, we have found that some have sold quickly and some have taken a year or more.  The right buyer can, in some cases, be the first buyer.  Or, it can take a long while before he or she shows up.  Patience is a virtue.

[couchpotato]

1 hour ago, Yellowtail said:

Don't for a two bedroom make sure you don't get anything smaller than 100m^2, and make sure it has at least two baths. Corner unit on a high floor with a great view from both windows. 

 

People are desperate now. you should be able to get something very nice for 1-2M 

you should be able to get something very nice for 1-2M 

 

100sqm (2 bed/2 bath with views) in Bangkok for 1-2m...bit delusional I think (or maybe you mean just the deposit!!)

[Rampant Rabbit]

On 8/31/2021 at 9:05 PM, James7 said:

Buddhist.

i  dont think its  compulsory to buy a condo

[Rampant Rabbit]

On 8/31/2021 at 9:15 PM, Will B Good said:

Good time to buy, though many would still advise hang back a while, prices may drop further.

 

Bad time to rent. Rents are relatively low at the best of times, but you might not be able to rent at all for sometime.

 

No one knows for sure, but I would hang back

Dunno  about hanging back but if  you rent it expect teanants to not  take any care of it whatsoever and plan on a full  renovation when you want to move in, most are dirty pigs.

[Rampant Rabbit]

On 9/2/2021 at 5:56 PM, James7 said:

I do have access to a large property portfolio I own pretty much mortgage free back in the UK which I can refinance. I'm not looking to finance in Thailand.

Uk  House  prices  have gone crazy..again why refinance why not sell or  is  cgt too  much

[newnative]

1 hour ago, couchpotato said:

you should be able to get something very nice for 1-2M 

 

100sqm (2 bed/2 bath with views) in Bangkok for 1-2m...bit delusional I think (or maybe you mean just the deposit!!)

Yes, gimme one of those 2 bedroom/2 bath 100sqm 'very nice' condos in Bangkok for 1-2MB. 

[RafPinto]

On 9/2/2021 at 1:21 PM, Will B Good said:

I wondered that.....Kheha?

Krakow

[BritManToo]

6 hours ago, LarrySR said:

The HIPFLAT website will present a good selection for you to explore and show the asking price history in the building.

Hipflat is double pricing for foolish foreigners.

[RafPinto]

On 9/16/2021 at 9:51 AM, DrJack54 said:

Won't read all the replies. This is perhaps unrelated but I find interesting. 

I'm not anti purchasing real estate. However.........

Opposite me there is new...ish development. 

After completion some adjoining properties did some extensions. On TOP of existing homes. See pics. Would you like to have purchased lovely new condo opposite. These monstrosities are virtually against balconies of some condos. 

Must be Chinese mogul building an extension to host a gambling den.

[RafPinto]

2 hours ago, couchpotato said:

you should be able to get something very nice for 1-2M 

 

100sqm (2 bed/2 bath with views) in Bangkok for 1-2m...bit delusional I think (or maybe you mean just the deposit!!)

US$ he was talking about.

[LarrySR]

38 minutes ago, BritManToo said:

Hipflat is double pricing for foolish foreigners.

 Their data was very accurate for my building in Bangkok. 

[LarrySR]

4 hours ago, Yellowtail said:

Don't for a two bedroom make sure you don't get anything smaller than 100m^2, and make sure it has at least two baths. Corner unit on a high floor with a great view from both windows. 

 

People are desperate now. you should be able to get something very nice for 1-2M 

10,000bt - 20,000bt per square meter for a “very nice, high floor, 2 baths, corner unit, nice view”?

 

Welcome to the Twilite Zone. 
 

Hey, wait a second….aren’t you the same guy from the climate change denier discussion? 
 

 

Edited October 18, 2021 by LarrySR

[Yellowtail]

2 hours ago, RafPinto said:

US$ he was talking about.

We have a winner!

[Yellowtail]

1 hour ago, LarrySR said:

 Their data was very accurate for my building in Bangkok. 

Which clearly has at least one foolish foreigner...

[thaitanic]

3 hours ago, RafPinto said:

US$ he was talking about.

In which case, in my limited experience, it's 3x more than necessary.

[newnative]

1 hour ago, thaitanic said:

In which case, in my limited experience, it's 3x more than necessary.

   Yes, you're right.  You can buy a 2 bedroom/2 bath 85 sqm corner unit in my very nice condo project next to the MRT for around 10MB, or about $312,000.  Not $1,000,000.   You can certainly spend a million dollars, but you don't have to.  

[Yellowtail]

1 hour ago, newnative said:

   Yes, you're right.  You can buy a 2 bedroom/2 bath 85 sqm corner unit in my very nice condo project next to the MRT for around 10MB, or about $312,000.  Not $1,000,000.   You can certainly spend a million dollars, but you don't have to.  

Show me a listing. 

 

[newnative]

12 minutes ago, Yellowtail said:

Show me a listing. 

 

    Check Hipflat, Villa Asoke, click on 2 Bedroom.  Several listings, 80 to 86 sqm 2 bedroom/2 bath, around 10MB.  Faz Waz has a slightly pricier listing at 11.5MB before negotiation.  

[Yellowtail]

11 minutes ago, newnative said:

    Check Hipflat, Villa Asoke, click on 2 Bedroom.  Several listings, 80 to 86 sqm 2 bedroom/2 bath, around 10MB.  Faz Waz has a slightly pricier listing at 11.5MB before negotiation.  

That's what I thought, but thanks!

 

Oh, and "Villa Asoke" is on Petchaburi, how funny is that? 

 

 

Edited October 18, 2021 by Yellowtail
text

[newnative]

21 minutes ago, Yellowtail said:

That's what I thought, but thanks!

 

Oh, and "Villa Asoke" is on Petchaburi, how funny is that? 

 

 

    Hilarious.  So is The Address Asoke across the street and Q Asoke next door.  The Lofts Asoke is around the corner.  (You can spend a million dollars for a 2 bedroom there if you so desire.)   VA works for us as a getaway place in Bangkok.  We like the nearby Airport Link.  Whatever floats your boat.  

[Yellowtail]

4 minutes ago, newnative said:

    Hilarious.  So is The Address Asoke across the street and Q Asoke next door.  The Lofts Asoke is around the corner.  (You can spend a million dollars for a 2 bedroom there if you so desire.)   VA works for us as a getaway place in Bangkok.  We like the nearby Airport Link.  Whatever floats your boat.  

The guy said between Asoke and Thonglor, less that 200m from the BTS, and I said over 100m^2, corner, high floor, great view. 

 

I don't doubt you have a great unit in a great building, but does it does not come close to meeting the criteria. 

 

Yes, I was exaggerating, but ten million won't do it. Twenty might, yes? 

 

 

[newnative]

17 minutes ago, Yellowtail said:

The guy said between Asoke and Thonglor, less that 200m from the BTS, and I said over 100m^2, corner, high floor, great view. 

 

I don't doubt you have a great unit in a great building, but does it does not come close to meeting the criteria. 

 

Yes, I was exaggerating, but ten million won't do it. Twenty might, yes? 

 

 

   OK, I lost the thread a bit and didn't realize you were specifically referencing the OP's condo wish list and targeting a specific area and condo size with your pricing.  

[prchunter]

49 minutes ago, Yellowtail said:

The guy said between Asoke and Thonglor, less that 200m from the BTS, and I said over 100m^2, corner, high floor, great view. 

 

I don't doubt you have a great unit in a great building, but does it does not come close to meeting the criteria. 

 

Yes, I was exaggerating, but ten million won't do it. Twenty might, yes? 

 

 

I was actually quoted a unit in Ekkamai called Noble Ambiance which is less then 200m away from the Ekkamai station that sold a 2br 43sqm unit that sold for under 6mil.  Alas I decided to pulled the trigger a day late and it was snatched up by a rival buyer.  

[Yellowtail]

17 hours ago, prchunter said:

I was actually quoted a unit in Ekkamai called Noble Ambiance which is less then 200m away from the Ekkamai station that sold a 2br 43sqm unit that sold for under 6mil.  Alas I decided to pulled the trigger a day late and it was snatched up by a rival buyer.  

Think long think wrong. 

 

I saw a great 110m^2 two bedroom about 200 from Ekkamai for 10 but I could not get my wife to even look at it.

 

 

[Yellowtail]

17 hours ago, newnative said:

   OK, I lost the thread a bit and didn't realize you were specifically referencing the OP's condo wish list and targeting a specific area and condo size with your pricing.  

It's all good. 

 

Hey, what's the walk to the MRT, and does it have escalator up & down? 

 

Do you get one parking or two, and does the elevator stop on every floor of the parking? 

 

[newnative]

2 hours ago, Yellowtail said:

It's all good. 

 

Hey, what's the walk to the MRT, and does it have escalator up & down? 

 

Do you get one parking or two, and does the elevator stop on every floor of the parking? 

 

   MRT is close--maybe a minute or so.  There is a low rise building, then Q Asoke, then the MRT entrance with escalators up and down.  The new Singha Complex built an underground passageway with escalators to its project from the MRT station. 

   We just have 1 car; I don't know if you are allowed 1 or 2 spaces.  Some residents have reserved parking spaces but most are not reserved.  There is plenty of parking, never a problem.  If you park on the outer garage parking slots on each floor you walk up or down a half flight of stairs to the elevator--it's sort of a split-level design. The inner slots are at elevator level. 

[brianp0803]

I was expecting to pay at least 9 million baht for what i want, but the big question remains - how easy is it to sell after 5 years and will I come close to breaking even (even including not paying rent).  I am sure there are some isolated cases (on both extreemes), but I would like to know about resale of a new condo (after 5 years) or a 10 year old condo (assuming good maintenance).

I thnk older units have bigger bedrooms.