Price of a storage room compared to a normal apartment?

[OneMoreFarang]

I like to know if there is some kind or rule of thumb for the price of small storage rooms in a condominium building.

 

I am looking at a building where apartments cost about 70,000 THB per sqm. There are a few storage rooms in the building. Each storage room has about 4 to 10 sqm similar to garbage rooms on each floor of a building. Some storage rooms have electricity and water, some not. Basically they are just simple undecorated rooms for storage without any window. I am pretty sure it would be illegal to "live" in such a room or maybe even use it as an office - if anybody would want to do that.

 

Because there are few of these rooms and even fewer which are for sale I wonder if there is a general rule of thumb how much they would cost compared to an apartment in such a building. Is the price per sqm similar? Or maybe 50%? I spoke with one lady who bought such a room recently and she told me she paid 80,000 THB per sqm which is more than the asking price for apartments in that building.

 

Any ideas or advice?

[Peterw42]

I think any price would come down to what these storage rooms actually are, in a legal sense. Do they have there own chanote etc ?? Are they registered properties at the land office. Do the owners pay per sqm condo fees, can I buy one and start parking a car, using the pool and the gym etc

It may be some sort of leasehold, from the condo block.

Otherwise, I dont think there would be any rule of thumb for the price, just simple supply and demand.

[OneMoreFarang]

33 minutes ago, Peterw42 said:

I think any price would come down to what these storage rooms actually are, in a legal sense. Do they have there own chanote etc ?? Are they registered properties at the land office. Do the owners pay per sqm condo fees, can I buy one and start parking a car, using the pool and the gym etc

It may be some sort of leasehold, from the condo block.

Otherwise, I dont think there would be any rule of thumb for the price, just simple supply and demand.

Thanks, that is interesting information. I didn't think about these details.

The lady who I talked to told me she will register her company using a 5 sqm storage room which she bought.

[BangkokAlan]

Normally smaller spaces command a higher selling or rental price in commercial real estate. Unsure if this is true in residential.

[rimmae2]

There are several storage rooms in the condominium where I live and own a unit. They are available for rent only and officially only to co-owners.

 

Price ranges from 1,000 to 2,000 baht a month. I have been renting a smaller unit which has an area of about 15 sq.m for more than 10 years for 1,000 baht a month, although up to about 5 years ago there was no charge. All room have a power supply, so in the case of the one that I rent this means lighting and a fan.

 

Pre COVID selling price of units about 150,000 baht per sq.m.

[OneMoreFarang]

28 minutes ago, rimmae2 said:

There are several storage rooms in the condominium where I live and own a unit. They are available for rent only and officially only to co-owners.

 

Price ranges from 1,000 to 2,000 baht a month. I have been renting a smaller unit which has an area of about 15 sq.m for more than 10 years for 1,000 baht a month, although up to about 5 years ago there was no charge. All room have a power supply, so in the case of the one that I rent this means lighting and a fan.

 

Pre COVID selling price of units about 150,000 baht per sq.m.

Something does not add up with this.

Rent for 15 sqm for 30 year: 360,000 THB up to 720,000 THB

Buying a 15 sqm unit: 2,250,000 THB

[donx]

On 3/6/2022 at 8:10 AM, OneMoreFarang said:

Something does not add up with this.

Rent for 15 sqm for 30 year: 360,000 THB up to 720,000 THB

Buying a 15 sqm unit: 2,250,000 THB

He/she said the storage units are only available to rent. I'm assuming the 150,000 baht per sq.m. doesn't apply to the storage units and only applies to the condo units.

[Granit]

The building I live in also has a few storage units and I recently bought one, it has a proper chanote, water and electricity supply.

The sqm price for a condo in the building is around 70K, I paid 45K per sqm for the storage unit.

Edit: Yearly juristic fee is paid at the same rate as a normal condo