New Condos In Sathorn Or Sukhumvit For Nesting

[fletchsmile]

I'm looking to buy a new 3-4 bed condo in Sathorn area. Somewhere in the price range of THB 4mio - 12mio. Preferably would be near a BTS or Underground/MRT station. Swimming pool is the main facility I'd be looking for. Anyone know any projects just finished, ongoing or to be finished soon?

I'm looking for long term nesting rather than investing.

I'd also consider Sukhumvit if near a BTS/MRT.

The reason I post, is I'm overseas at the moment, but moving back with family soon. By the time I have found condos in the past they are usually sold out to people who buy for speculation.

I'm simply looking for a home in BKK, for my wife, daughter and myself.

BTW Am not bothered about foreign ownership rules.

Any ideas/advice welcome. Thks

Edited July 23, 2007 by fletchthai68

[backflip]

"By the time I have found condos in the past they are usually sold out to people who buy for speculation"

Since you are unprepared to buy now, what makes you think that the situation will change?

[fletchsmile]

"By the time I have found condos in the past they are usually sold out to people who buy for speculation"

Since you are unprepared to buy now, what makes you think that the situation will change?

Backflip

Thanks for the note. I am moving back to Thailand very soon, so will be on the ground to take action. Whereas for the last couple of years I've been outside Thailand. i.e this time round I want to be prepared - it's more a case of how to get in the loops earlier.

Edited July 24, 2007 by fletchthai68

[thaihome]

Several under construction. The one nearest a BTS station would be Empire Place on Narathiwas Rachanakharin Road at the Chong Nonsi station. It would seem to be about 25% complete at this point, but going slowly

TH

[fletchsmile]

Several under construction. The one nearest a BTS station would be Empire Place on Narathiwas Rachanakharin Road at the Chong Nonsi station. It would seem to be about 25% complete at this point, but going slowly

TH

Thanks very much. Looks well worth checking out. We still rent a small apartment around Naratiwat area, where we keep our things, and like the area generally.

[thaihome]

There are two going up on Narathiwas, one right at the BTS station, the other just below Sathorn, next to Empire tower. Also the Met on Sathorn is going strong. Another place worth looking at is Narathiwas Soi 7 which connects with Suan Plu. A number of new places have recntly finished, some are apts, but others appear to be condos.

Suan Plu-Narathiwas is indeed a very good area. Much better then the Sukhumvit farang gehtto.

TH

[363885]

There are two going up on Narathiwas, one right at the BTS station, the other just below Sathorn, next to Empire tower. Also the Met on Sathorn is going strong. Another place worth looking at is Narathiwas Soi 7 which connects with Suan Plu. A number of new places have recntly finished, some are apts, but others appear to be condos.

Suan Plu-Narathiwas is indeed a very good area. Much better then the Sukhumvit farang gehtto.

TH

Sathorn is indeed a nice area. However, you would not be able to get a 3-4 bedroom condo at Empire Tower or the Met even at the high end of your price range of 12 million baht (for that matter, at any new property in this area). A 3-bedroom at the Met will be well over 20 million. You might be able to find something that is a bit older, however.

[joeuk1]

<br />Several under construction. The one nearest a BTS station would be <a href="http://www.tcccapitalland.co.th/projects/residential/empirePlace/empire.html" target="_blank">Empire Place </a>on Narathiwas Rachanakharin Road at the Chong Nonsi station. It would seem to be about 25% complete at this point, but going slowly<br />TH<br /><br />

<br /><br /><br />

Empire Place has that realy dirty ugly 3 story building standing in front of it , the owners wont sell it so it can be pulled down , lots of better options in that area then Empire place .

JB

[joeuk1]

<br />There are two going up on Narathiwas, one right at the BTS station, the other just below Sathorn, next to Empire tower. Also the Met on Sathorn is going strong. Another place worth looking at is Narathiwas Soi 7 which connects with Suan Plu. A number of new places have recntly finished, some are apts, but others appear to be condos. <br />Suan Plu-Narathiwas is indeed a very good area. <img src="style_emoticons/default/wink.gif" style="vertical-align:middle" emoid="" border="0" alt="wink.gif" /> Much better then the Sukhumvit farang gehtto.<br />TH<br />

<br /><br /><br />

The building thats right on the BTS station with the big banner hanging 100% sold out the condos they are building there are stunning , i viewed the show home .

JB

[fletchsmile]

There are two going up on Narathiwas, one right at the BTS station, the other just below Sathorn, next to Empire tower. Also the Met on Sathorn is going strong. Another place worth looking at is Narathiwas Soi 7 which connects with Suan Plu. A number of new places have recntly finished, some are apts, but others appear to be condos.

Suan Plu-Narathiwas is indeed a very good area. Much better then the Sukhumvit farang gehtto.

TH

Sathorn is indeed a nice area. However, you would not be able to get a 3-4 bedroom condo at Empire Tower or the Met even at the high end of your price range of 12 million baht (for that matter, at any new property in this area). A 3-bedroom at the Met will be well over 20 million. You might be able to find something that is a bit older, however.

Thaihome

Thanks for the tips, will probably check these two out soon. I got more info on Empire. It looked very interesting. As 363885 said tho' price for 3 bed was higher than my initial range. Starts at 15m for 3 bed. I was considering lifting the upper end of my range, as the development looks good, and location very convenient. However, it won't be finished until Feb 2009 (which fits with your 25% completition estimate). The risk of committing to that sort of amount 18months+ away is probably too high for me. Lower prices I'd wait for longer period, but higher prices I'd like to see something earlier for my commitment. Ideal would be somewhere I could move into within 6 months.

[1Rai.com]

This one looks fairly nice...

http://www.1rai.com/Thailand-Real-Property...area_16505.aspx

It's only 2 bedroom - although I'm sure the agent could find you something similar with 3.

[thaihome]

1rai,

Does look ok, but I think we were talking about the Sathorn/Narathiwas, is this in that area?

To the OP,

Offplan is risky, but with a reputable builder that can be minimized. We bought ours 14 months ahead of completion. Flipped units in building are still being sold one year after we moved in at over 25% what we paid. Risk vs reward.

Another close by area is Sala Daeng.

TH

[1Rai.com]

1rai,

Does look ok, but I think we were talking about the Sathorn/Narathiwas, is this in that area?

TH

It says it's in Sathorn, on the New Sathorn Road. I have to say, I'm not a Bangkok resident, so perhaps these are questions to ask the agent? I thought it looked suitable as it looks like it's kitted out to cater for families - swimming pools, playground, fitness centre, it even has an indoor football pitch! - and it looks quite reasonably priced at 65k/sqm, with furniture.

But, as I'm not the agent, I'm not in much of a position to answer too many questions about it.

[fletchsmile]

Thanks for all the ideas so far. Some quality posts and good help.

Does anyone have any views on town houses as an alternative to condos? They seem to offer good value for money when I look at prices compared to condos. eg http://www.thanapat.co.th/en/main.php seem to have some good projects. eg I could get what seems a decent town house for 7-8mio, and single house for 15mio. These seem very good value compared to The Met or Empire Place.

Again we've no worries on foreign ownership. Mainly interested in a like for like views on the pros and cons of town house/single house vs condo as a family home?

Anyone any experience?

Edited July 27, 2007 by fletchthai68

[thaihome]

Haven't seen too many town houses. The ones I have seen tend to be out in 'burbs a bit. There is some new ones finishing up on Narathiwas Road by Chan Road that are for rent. Think I read they started at 200k a month.

TH

[joeuk1]

<br />Haven't seen too many town houses. The ones I have seen tend to be out in 'burbs a bit. There is some new ones finishing up on Narathiwas Road by Chan Road that are for rent. Think I read they started at 200k a month.<br />TH<br />

<br /><br /><br />

I lived in Narathiwas road for a while traffic was a REAL pain , if you are not right on the bts i hope anyone that lives there enjoys walking . Nice area but i could not live in Narathiwas road again .

JB

[fletchsmile]

There are two going up on Narathiwas, one right at the BTS station, the other just below Sathorn, next to Empire tower. Also the Met on Sathorn is going strong. Another place worth looking at is Narathiwas Soi 7 which connects with Suan Plu. A number of new places have recntly finished, some are apts, but others appear to be condos.

Suan Plu-Narathiwas is indeed a very good area. Much better then the Sukhumvit farang gehtto.

TH

Thanks again for the posts. I've arrived back in Thailand now, and they were useful starting points. In case anyone else is looking, I'd like to try and give a little research back

- The one opposite Empire in Naratgiwas Soi 7 was Narathorn. 20mio for 220 m2. Was nice but nothing special. Didn't srike me as value for money.

- The Met was very nice. But in the price range I was interested they had 90+m2 for 12.5 mio and 195ish for 25mio. Nothing much in between. Had they had say 3 bed at 150m2 for say 18.5mio I would have gone for it.

- Empire won't be finished til 2009

- The reason I'm not keen on condos over 20mio is I think you might as well buy a house. eg Grand Vienna had some nice single houses 25mio-29mio, by AP properties

- Saw a couple of own house projects Thanapat, Arunpat. Didn't think they were really vfm. Swimming pools in the complexes always very small.

- The Address near Chidlom had some nice properties, but a bit too small.

Having looked around a bit, I think I need to revise my budget upwards for this area as a few people said. For a condo 10-18mio is more realistic for a 3 bed. They seem mostly to be between 70k 100k / m2. The Met was 120-ish

Went to see the Park at Chidlom, but it was closed. Bit annoying as we walked the whole length of Soi Somkid! Not a good soi for walking. BTW Anyone know prices on that?

So still looking, but thanks for all the help. Much appreciated

Edited July 30, 2007 by fletchthai68

[363885]

Fletchthai68, by the way, for the 90+ sq. meter unit at 12.5 million, what floor was it on?

[rak sa_ngop]

There is currently a small property 'exhibition' with about 6 or so property companies displaying their buildings at the Silom Plaza (direct sky bridge link to BTS Sala Deng). Its been there a few days now, not sure how many more days to go.

[samtam]

This one looks fairly nice...

http://www.1rai.com/Thailand-Real-Property...area_16505.aspx

It's only 2 bedroom - although I'm sure the agent could find you something similar with 3.

This is Bangkok Garden, soi 23? Narathiwat, (bit of a stretch calling it "New Sathorn Road"....but I see condos on the other side of Taksin Bridge are called Sathorn XYZ). Bangkok Garden do have three beds too, plus a mix of service and condos. It has great swimming pools/landscaping, although is a "medium range" property, but should fit pricing, I would think. Not near to BTS; nearest is Chong Nonsi, but getting there can be problematic when it's rush hour.

Edited August 1, 2007 by samtam

[fletchsmile]

Fletchthai68, by the way, for the 90+ sq. meter unit at 12.5 million, what floor was it on?

11th Floor - so quite low. 136k/m2 for 93m2. Total price 12,648,000. This was without enquiring about any disounts.

27th Floor - miway. 137k/m2 for 189m2. Total price 25,893,000. Again pre discount.

1Rai.

Cheers for the info. I used to know BKK Gardens quite well. I'm actually looking to buy new, as I think it's less hassle. A couple of reasons being: I think it's simple, and safety in numbers with other people buying from a reputable firm where large % already moved. I think it cuts down on potential legal parts/lawyers etc. From experience in UK, lawyers and estate agents aren't exactly people I like dealing with. I like to just buy/negotiate direct. The other reason is I figure if prices are offered to lots of people at the same asking price, I'm less likely to overpay significantly, at least there are other people paying something similar. I think it's much more of a judgement call on second hand. Which gives me another couple of questions:

1) Do people actually use/need a lawyer for a new project?

2) In most places I've seen for new projects they seem prepared to discount 5 - 7.5% if pushed a little. Anyone any experience of whether that is reasonable or can push much further? I'm not realy bothered for the odd % point. But if I should be asking 20%-25% then that's a different ball game.

Edited August 1, 2007 by fletchthai68

[363885]

Fletchthai68, by the way, for the 90+ sq. meter unit at 12.5 million, what floor was it on?

11th Floor - so quite low. 136k/m2 for 93m2. Total price 12,648,000. This was without enquiring about any disounts.

27th Floor - miway. 137k/m2 for 189m2. Total price 25,893,000. Again pre discount.

1Rai.

Cheers for the info. I used to know BKK Gardens quite well. I'm actually looking to buy new, as I think it's less hassle. A couple of reasons being: I think it's simple, and safety in numbers with other people buying from a reputable firm where large % already moved. I think it cuts down on potential legal parts/lawyers etc. From experience in UK, lawyers and estate agents aren't exactly people I like dealing with. I like to just buy/negotiate direct. The other reason is I figure if prices are offered to lots of people at the same asking price, I'm less likely to overpay significantly, at least there are other people paying something similar. I think it's much more of a judgement call on second hand. Which gives me another couple of questions:

1) Do people actually use/need a lawyer for a new project?

2) In most places I've seen for new projects they seem prepared to discount 5 - 7.5% if pushed a little. Anyone any experience of whether that is reasonable or can push much further? I'm not realy bothered for the odd % point. But if I should be asking 20%-25% then that's a different ball game.

When I bought my unit in Sukhumvit (new - I bought it off plan about 1 1/2 years prior to completion and was completed at end of 2006 about 5 months late) I did not use a lawyer. I went through CBRE, and they were great, as they are used to dealing with foreigners and understand our concerns. They offered referrals to lawyers, but I did not use one.

I was only able to get a 2.5% discount, as the units were going pretty quickly. I guess it really depends on which stage you buy the condo. Generally, when you purchase during the "pre-sale" period, the developer might offer up to 10% discount. Then the discount might go down to 5% or lower during official opening of sales. During the "pre-sale" period, the developer gage the popularity of the development. If the development is highly popular, the discount could be eliminated altogether.

[fletchsmile]

When I bought my unit in Sukhumvit (new - I bought it off plan about 1 1/2 years prior to completion and was completed at end of 2006 about 5 months late) I did not use a lawyer. I went through CBRE, and they were great, as they are used to dealing with foreigners and understand our concerns. They offered referrals to lawyers, but I did not use one.

I was only able to get a 2.5% discount, as the units were going pretty quickly. I guess it really depends on which stage you buy the condo. Generally, when you purchase during the "pre-sale" period, the developer might offer up to 10% discount. Then the discount might go down to 5% or lower during official opening of sales. During the "pre-sale" period, the developer gage the popularity of the development. If the development is highly popular, the discount could be eliminated altogether.

Thanks. A very useful post.

What you've said seems to reflect what I've been seeing, and also fits with what I'd expect from general marketing strategies and supply and demand.

[AmericanGuy1066]

Sathorn is indeed a nice area. However, you would not be able to get a 3-4 bedroom condo at Empire Tower or the Met even at the high end of your price range of 12 million baht (for that matter, at any new property in this area). A 3-bedroom at the Met will be well over 20 million. You might be able to find something that is a bit older, however.

Belle Park, Narathiwas soi 24 has 3 beds about 100m2 for 4-5mio+. They're smallish and more like 2.5 bed, but seem very good vfm. Just across the road from Bangkok Gardens and Oakwood condos.

Edited August 3, 2007 by AmericanGuy1066

[fletchsmile]

Just as an update, we reserved a condo today. Thank you to all of the above for your advice and help.

First choice was Empire, but given all the uncertainities in Thailand at the moment, economy, THB, govt and political plus the fact it wasn't going to be ready until 2009, we decided it was too much of a risk for the price. If it had been finished that would be a different story, but we didn't want to commit to something 18 months away, where we'd put 30% down over next 16 months. I guess you can count me as another statistic who has reduced his investment here due to the risks.

Second choice was The Star Estate at Narathiwas. We were very happy with it. Also feel much happier with the risks and amounts involved - cheaper and within our original estimate, location etc. Will be finished in Nov (hopefully). BRT should also go thru there one day! So we're made up!

Thanks again

Edited August 18, 2007 by fletchthai68

[merlion]

Just as an update, we reserved a condo today. Thank you to all of the above for your advice and help.

First choice was Empire, but given all the uncertainities in Thailand at the moment, economy, THB, govt and political plus the fact it wasn't going to be ready until 2009, we decided it was too much of a risk for the price. If it had been finished that would be a different story, but we didn't want to commit to something 18 months away, where we'd put 30% down over next 16 months. I guess you can count me as another statistic who has reduced his investment here due to the risks.

Second choice was The Star Estate at Narathiwas. We were very happy with it. Also feel much happier with the risks and amounts involved - cheaper and within our original estimate, location etc. Will be finished in Nov (hopefully). BRT should also go thru there one day! So we're made up!

Thanks again

Congrats, Bkk will be a great place to live in.

[altacom]

Hello, fnds ! If you are intersted, I can sell the Emporio Place at sukhumvit soi 24.

This is 75.5 m2 and dupex type with small garden. ( 25th floor )

The project will be finished in year 2009, and will expect Japanese tenant happy to pay 55,000 - 60,000 baht for rent.

The price is 9,900,000 baht.

Nantida at 081-770-8484

[fletchsmile]

Hello, fnds ! If you are intersted, I can sell the Emporio Place at sukhumvit soi 24.

This is 75.5 m2 and dupex type with small garden. ( 25th floor )

The project will be finished in year 2009, and will expect Japanese tenant happy to pay 55,000 - 60,000 baht for rent.

The price is 9,900,000 baht.

Nantida at

[kaxper]

emporio place on suk24 is a great place with nice neighbourhood feel (starbucks, davies hotel, tops supermarket), and much nicer part of suk24 but still accessible by skytrain. once all the buildings are finished (there is a service apt and hotel under construction across emporio place), it will be a new zone and no old shop houses to mess with.

fletchthai68, if you are interested in long term rent, i have a 136 sqm unit at sathorn house condo at surasak bts skytrain (right behing AIA building). this is on north sathorn road side, and very convenient. check it out at www.kaxper.com

[pkrv]

Went to see the Park at Chidlom, but it was closed. Bit annoying as we walked the whole length of Soi Somkid! Not a good soi for walking. BTW Anyone know prices on that?

Sorry have only just noticed the thread (I guess we are all guilty of full interest when we are fully involved). The Park was by appointment only, I don't think there is anything left there I could have saved you the walk!

However Welcome There is so much new stuff it is so good to see the city developing and I think selling out! But your posts do seem to fluctuate in intention for your situation.

Edited August 28, 2007 by pkrv