The profit of selling condominium unit in 2027

[Goodboybkk]

Hi all,

 

Can you reap a fat profit by selling a condominium unit which you buy today next 5 or 10 years [ in year, for example, 2027 ]?

How much is the profit?

 

Thanks

Edited November 26, 2022 by Goodboybkk

[Myran]

Would you also like next month's winning lottery numbers and the winner of the ongoing football world championship?

[Peterw42]

How long is a piece of string ?  Whether you make a profit has many variables, the first one being how much you pay for it. If you get a bargain now then you may profit in the future. If you pay a ridiculous asking price now then you may not profit.

You may profit in other ways, like not paying rent for 5 years, or profit in changes in exchange rates etc.

Other factors like location, ongoing management of the block, Thai visa or ownership laws, could all come into play. The last variable would be if the general market goes up or down.

I just sold a condo, that I owned for 6 years , for the same price I paid for it, but I didnt pay rent for 6 years (equal to half the price of the condo), and the value of my home currency has fallen, so in home country currency, I am 30% up.

I know a guy who bought for 1 million and sold for 1.5 million 5 years later, I also know a guy who bought for 2 million and sold for 1.8.

In broad terms, the Thai market doesn't rise in grand percentages each year, supply keeps up with demand so there are no factors causing prices to rise.

 

Edited November 26, 2022 by Peterw42

[scubascuba3]

No, unlikely, generally speaking too much supply, can pretty much build anywhere and do, right next to your condo so everything blocked out.

 

Houses and land has more upside but of course illegal if in company name

Edited November 26, 2022 by scubascuba3

[Lacessit]

IMO the days of people buying condos cheaply and selling them for a handsome profit 5-10 years later are over, there is an oversupply now. Some of the new condos have been built with toad <deleted>, rice paper and sealing wax, people buying those will be taking a bath later as they start falling apart.

There may be value in buying locations where new transport hubs are being developed, e.g. the fast train from Laos,or the rail link to Chiang Rai.

[PJ71]

If it's in the right location and bought at the right price then yes.

[In the jungle]

If you want to make a profit buy in another country.

[Scott]

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[ezzra]

Yes, your property will increase in value 10 folds, your wife will be slimmer and prettier and you'll win the lottery, now come see me in 10 years i was wrong on any of the predictions...

Edited November 26, 2022 by ezzra

[Lucky Bones]

15 minutes ago, ezzra said:

Yes, your property will increase in value 10 folds, your wife will be slimmer and prettier and you'll win the lottery, now come see me in 10 years i was wrong on any of the predictions...

But...but...but.

Those amulets I bought and the magic monk......????????

[wobblyjohn]

Took the money to buy mine at 68 to the pound 

Sold for the same price I bought it for but when I sent the money back it was only 43 to the pound 

[scubascuba3]

50 minutes ago, wobblyjohn said:

Took the money to buy mine at 68 to the pound 

Sold for the same price I bought it for but when I sent the money back it was only 43 to the pound 

Yes can get lucky with the exchange rate

[KhunLA]

Well, it's a buyer's market now and 2027 ....  ?

 

2017 some folks were probably saying buy buy buy, and in 5 years you'll make a lot of money ...

 

... Five years later, 2022, and it's a buyer's market, oops 

 

 

[Goodboybkk]

You make a a huge profit of around 60 penny for every 1 pound