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?

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.

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.

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

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.

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

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.

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