New High End Condos

[pkrv]

[an analogous situation is with cars.....if you go to Siam Paragon, there are Maserati, Ferrari, Lamborghini, BMW etc. dealers offering very high priced cars......not everyone wants a cheap Honda Jazz (even in our developing city)....

are you saying its not permitted to have a wide range of projects or products in Bangkok, just because we are developing?

there is no disconnect....it is a free market...if you dont like it too bad...

I'll say it again, give it a rest....

Silly boy you forgot porsche...... ];-)

Edit - I forget what floor they are on I think it's the third

Edited June 29, 2011 by pkrv

[pkrv]

I think people buying at these levels are well aware of the comparatively "wild west" developing environment in Bangkok and lower liquidity levels...and do not need your repeated warnings.....

for example, I am aware that we lack facilities, smooth sidewalks, cold efficiency & regimented predictable politics (as compared to developed Singapore or my home cities in the USA for instance), but I personally prefer Bangkok over Singapore for a variety of other factors (and I do have a wide choice of places to primarily live)........I suspect a few others do too given the numbers coming here....

lastly, the rarity factor does matter.....you are going on and on (for years) about the very high price of the rare projects....but the reality is that the vast majority of projects are much lower in price...if you want to live in this horrible "second rate" city (as you describe it) then why not look at something lower in price? or move on to a "first rate" city (in your mind) and give it a rest......

It's sad that you have to conclude an argument not by providing anything substantive, but by suggesting that "I give it a rest".

I did not actually say Bangkok was a second rate city. I have been saying that I could not equate first world property prices in a developing country. I too like Bangkok, and live in a very good well-managed older building which is being substantially upgraded throughout its common areas. It has an incredible footprint, with mature flora and is well set back from a major road on its own soi of 150 metres, and close to BTS and MRT. My own apartment within it is beautifully decorated and was featured in Elle Decor. Decoration, such as that in these great showrooms, is not difficult to achieve, although 95% of homes decorated in Bangkok are of a very low standard. Ergo, you have a box in the sky which is well decorated, with good facilities and a good location and one sells for THB85k and the other for THB270k. Oh, and mine has the best view I have come across.

You asked me to clarify what I meant by "until it's too late", and I have done that; it is not intended as a repeated warning to the savvy millionaires who want to park USD2m+ in a condo in Bangkok. I would be very surprised if they read what I write.

The whole premise of my argument is that I do not understand the disconnect. I still do not understand the disconnect, and whilst some have provided quite plausible reasons, tracker #13, quicksilva #15, kaxper #71, (for which thanks), I am still bewildered. Surely the point of a forum is discussion. My initiation of this topic was to try and elicit responses from those who have an interesting insight.

As I've said, I find the creation of these high end properties an interesting phenomenon, especially given my reservations. If they are indeed being snapped up by the demand required, then it is a positive move in the overall property market, and I am glad and happy for you that you are contributing to this demand. However, statistics for these things are very unreliable, especially in Thailand. I acknowledge the concept that some people like to wear Gucci underpants. I am glad you think that spending money on these things is a good choice; personally I am not swayed by such marketing.

What is a great view?

[Raptor7]

Silly boy you forgot porsche...... ];-)

Edit - I forget what floor they are on I think it's the third

oh yes! how could I forget Porsches, my dream favorite

I think its on the 2nd Floor......http://www.siamparagon.co.th/v8/index2.php

[pkrv]

Silly boy you forgot porsche...... ];-)

Edit - I forget what floor they are on I think it's the third

oh yes! how could I forget Porsches, my dream favorite

I think its on the 2nd Floor......http://www.siamparag...h/v8/index2.php

Well met Raptor7

The Park is currently at a shade under 180,000 THB PSM I know because I have one of my homes there.

[Raptor7]

Silly boy you forgot porsche...... ];-)

Edit - I forget what floor they are on I think it's the third

oh yes! how could I forget Porsches, my dream favorite

I think its on the 2nd Floor......http://www.siamparag...h/v8/index2.php

Well met Raptor7

The Park is currently at a shade under 180,000 THB PSM I know because I have one of my homes there.

congrats PKRV!...the Park Chidlom is a excellent choice for your own private corner in the Big Mango...

the planned nearby "Ploenchit City" landscaping and ped connections involving the Swissotel Nai Lert Hotel, upcoming Central Embassy (with Park Hyatt), Parkventures (with Okura Hotel) and Noble Ploenchit with lo-rise offices will certainly make your area even better!!

and dont forget the new planned Bangkok Bazaar in those empty lots adjacent to Big C Rajadamri (across the street on Chidlom from you! will add further color to the area!)

[trajan]

Khun Somsak Vayakornvichitr (shipbuilding industry) is the first owner of one of those amazing duplex penthouses (with private pool) residences at the ST REGIS Bangkok on Rajadamri....

http://www.newswit.com/.prop/2011-05-03/1f84b8d769790d443449e5a54e1d7faf/

Edited June 29, 2011 by trajan

[trajan]

The largest duplex penthouse at THE SUKHOTHAI RESIDENCES on Sathorn South sold to a Canadian tycoon based in Singapore for Baht 408 million..I hope he doesnt crowd the hotel drive ways with his Bentleys

http://www.hkri.com/icms2/template?series=103&article=2005

[pkrv]

Khun Somsak Vayakornvichitr (shipbuilding industry) is the first owner of one of those amazing duplex penthouses (with private pool) residences at the ST REGIS Bangkok on Rajadamri....

http://www.newswit.c...49e5a54e1d7faf/

320 to 920 square meters that would be well, and I mean well.well out of my league I am at 140 sqm but more importantly am dead chuffed and that is all that matters.

Edit - Out of interest does he have a waterfall? ];-)

Edited June 29, 2011 by pkrv

[trajan]

the ST. REGIS duplex penthouses are larger 684 to 993 sq meters and have private pools, but alas no waterfalls:

floors 42-45 = 4 duplex penthouses with private pool (684 sqm to 993 sqm)

floors 40-41 = 4 regular penthouses with private pool (573 sqm to 633 sqm)

__________________________________________________________

floors 25-39 = 45 residences (45 four bedroom units, three units per floor) (each unit = 345 sqm to 440 sqm)

floor 24 = residential facilities (shared pool etc. for residences above)

___________________________________________

floors 22 & 23 = serviced apts (22 apts of one and two bedrooms)

___________________________________________

floors 15-21 = hotel (198 rooms)

floors 12-14 = hotel facilities (pool, spa, ballroom, function rooms, fitness)

___________________________________________

below floor 12 = main lobby, office, retail, parking, sky lobby

Edited June 29, 2011 by trajan

[pkrv]

...but I really dont wish it to become antiseptic like Singapore...

I was along the bank of Singapore river a couple of months ago' date=' and it reminded me of Klong (canal) Prakhanong in width...lol Forget about contrasting it with the Chaophraya river.

Living in Bangkok is like living in the midst of a wet market, the crowd, the noise, the dirt, and traffic. Living in Singapore is like living in Singapore General Hospital (SGH), clean, orderly and highly regulated.

Your choice is?

[/quote']

My choice is NOOOOOOOOOOOOOOOOOOOOOO..............................................................

edit added a bit more

So you opt for the wet market like I do...lol. My reason? Chiwit chiwa!

I think that translates as life - with the FULL English meaning with all connotations behind it – but of course.

[pkrv]

the ST. REGIS duplex penthouses are larger 684 to 993 sq meters and have private pools, but alas no waterfalls:

Tropical Rain forest? ];-)

Edited June 30, 2011 by pkrv

[london]

I just had to add my 2 cents worth here.

To me, after all the years I have been in BKK, it is still a magic city. The people are warm and hospitable. Courtesy and manners are not uncommon. Sadly, I cannot say the same about Singapore.

Oh, and as for views, well, I can't beat mine anywhere I look in BKK. Not in the heart of the city, but I'm happy.

As for values or prices: its a free market out there. Demand is always eventually met. These developers would have done their homework (well, one would hope!) and are targeting a certain demographic.

[pkrv]

The view of the chao phraya might suit some - personally I find it captivating and mesmerising.

Edited June 30, 2011 by pkrv

[london]

The view of the chao phraya might suit some - personally I find it captivating and mesmerising.

So true PKRV !

Me too....as you know.

Its magic......

[trajan]

I just had to add my 2 cents worth here.

To me, after all the years I have been in BKK, it is still a magic city. The people are warm and hospitable. Courtesy and manners are not uncommon. Sadly, I cannot say the same about Singapore.

Oh, and as for views, well, I can't beat mine anywhere I look in BKK. Not in the heart of the city, but I'm happy.

As for values or prices: its a free market out there. Demand is always eventually met. These developers would have done their homework (well, one would hope!) and are targeting a certain demographic.

well said...totally agree...I am so used to smiling in Thailand, that I smile in Singapore and they think Im either a lunatic or devious there...the casinos and other amusements there are nice 2 or 3 times a year, but I prefer to live in rough and ready Bangkok ...

[trajan]

The view of the chao phraya might suit some - personally I find it captivating and mesmerising.

yes, me too....ideally I wish I also had a nice small duplex on a low floor with a direct view of the water at THE RIVER condo to decompress on the weekends

but those are all sold out (over B200K psqm) and sadly Im out of money anyway

[pkrv]

Hi London and Trajan,

We know each other of old.

The River, last time I saw it was closing in on completion, it is going to happen.

Any updates?

[london]

Hi London and Trajan,

We know each other of old.

The River, last time I saw it was closing in on completion, it is going to happen.

Any updates?

Dear Trajan and PKRV,

thanks for your comments.

Re the River: the latest I have heard is that ALL the 49% Farang ownership is sold....BUT the 51% Thai ownership is falling dismally short on sales. BIG issue when it comes to maintenance further down the track.

Its still a landmark property and will establish the Chaopraya as another 5 star area of the city as well as the area that you are in PKRV.

Its a situation of now waiting and watching.

Oh, the St Regis looks interesting and the money behind it is not silly or badly informed. Anything that is going to improve the city is a BIG plus in my book.

Also, its been interesting to note the gloom and doom sayers of a few years back have all disappeared.

The other interesting thing now is that Asian capital cities as a whole are becoming as expensive in regard to middle/upper living as many western countries. This is as true of Bangkok as it is of Singapore or Shanghai. The days of westerners landing in BKK with $500 and having a good months holiday are long gone. Its time that some adjusted to the new reality.

[pkrv]

Re the River: the latest I have heard is that ALL the 49% Farang ownership is sold....BUT the 51% Thai ownership is falling dismally short on sales. BIG issue when it comes to maintenance further down the track.

Hi London candid feeback - you should not see issues with maintainace - from recollection this must be paid by the developer under the comdominium act - no sell they pay - I think.

[london]

Re the River: the latest I have heard is that ALL the 49% Farang ownership is sold....BUT the 51% Thai ownership is falling dismally short on sales. BIG issue when it comes to maintenance further down the track.

Hi London candid feeback - you should not see issues with maintainace - from recollection this must be paid by the developer under the comdominium act - no sell they pay - I think.

Hi PKRV,

yes, in theory that is the case, but I tend to be a little skeptical. (he he he, I wonder why?)

If Raimon Land suddenly have a run on their funds, the maintenance fees would be the last of their concern and would probably end up in court for a decade....whilst the building suffers.

Really, the government needs to address the 49/51 split, and ownership in general. But thats another topic for another day.

Hope you and yours are well.

Best

[trajan]

the record high costs of land in central prime areas of Bangkok is also contributing to high costs of top-end condos on those central plots of land

for example,

(a) Sansiri Plc has paid a record price of 1.5 million baht per square wah (four square metres) for a land plot on Wireless Road, which is an 823-square-wah plot (ex-Spanish embassy) next to CenterPoint apts Wireless Road (bought from Suthat Na Ayudhya).

(b ) Raimon Land paid over 1 million baht per square wah for a plot on Phloen Chit Road (bought from Oishi Group founder Tan Passakornnatee).

(c ) Thai Summit bought 2 rai on Pleonchit Road from Raimon Land for 1.2 million baht per sq wah

(d) Central Group bought that large plot of land on Ploenchit (from British Embassy) for B950,000 per sq wah (to be developed as Central Embassy project)

(e) Raimon land bought that large plot of land on Rajadamri (now 185 Rajadamri condo project) from Cambodian Embassy for B800,000 per sq wah.

[Heng]

What would those morons know compared to the genius of the average TV real estate guru?

[pkrv]

What would those morons know compared to the genius of the average TV real estate guru?

It appears about zero - I dont think negative numbers count.

[Darrel]

I suspect that there is a greater percentage of Thai property developers who have gone bust than there is of TV posters in the same situation.

[pkrv]

I suspect that there is a greater percentage of Thai property developers who have gone bust than there is of TV posters in the same situation.

Of course considering this thread a tautology?