Do Condos Seem Over Priced In Bkk To Anyone Else?

[YoungAndRice]

i just can't see myself spending 7 million baht for a 65m2 shoebox. Isn't this a third world country? i guess many of you are willing to do just that or the prices would be lower.

[Heng]

If you don't want to shop at Villa, there's always Tesco-Lotus, Y&R.

[Prakanong]

If you don't want to shop at Villa, there's always Tesco-Lotus, Y&R.

But you are getting Mom and Pop goods for Paragon Gourmet Market Prices

[simcity]

If you don't want to shop at Villa, there's always Tesco-Lotus, Y&R.

Villa market? Is it not the place who change stickers when the use date is passed ?

2 times was to much for me ... will go to tesco or carrefour any day !

[sonicdragon]

If you compare prices of similar units in "first world" countries, you won't find BKK prices particularly high, though I'm not sure what you get for 7mm baht/65sqm in terms of build quality,

[stickman]

i just can't see myself spending 7 million baht for a 65m2 shoebox. Isn't this a third world country? i guess many of you are willing to do just that or the prices would be lower.

It's a difficult situation because upon making comparison with other major centres, Bangkok properties do indeed seem cheap. It is when you actually look at the property, the quality of the materials used and the workmanship and the way some are managed that you start to scratch your head. Then when you factor in the uncertainty which surrounds any major purchase in Thailand and the fact that the Thai property market doesn't necessarily always follow the principles of other property markets that one gets more nervous.

I have always felt that property in Bangkok is a decent purchase if you plan to live in the property for a long time. But if you wish to invest, or are not sure what your future holds, then perhaps renting is a better option.

[pkrv]

A topic that is endlessly discussed on the real estate forum - here are some good comparitive links

http://www.globalpropertyguide.com/investm...ecasts-for-2008

http://www.globalpropertyguide.com/Asia/Th...d/Rental-Yields

http://www.globalpropertyguide.com/investment-rating

http://www.globalpropertyguide.com/Asia/Thailand

PKRV - Just transferred at The Park 14.5m THB, 140 (ish) sqm - great value!

Edited January 9, 2008 by pkrv

[LoveDaBlues]

i just can't see myself spending 7 million baht for a 65m2 shoebox. Isn't this a third world country? i guess many of you are willing to do just that or the prices would be lower.

It all depends on the individual and what they enjoy. Me, I avoid BKK like the plague. For me, too many people, vehicles, noise, and bad air. But for some folks I guess BKK is an exciting city; so if you want to live there you have to pay the price.

I've got over 5 rai (just outside Udon Thani) and may soon buy closer to town as we just had a kid and it will be easier once the child starts going to school.

For 7 million baht here I could literally have a well-built mansion on a decent sized piece of property. I'm going to build a house of 304 sq. mt. (already have plans drawn) and it should come in at just less than 3 mill baht.

It boggles my mind that someone would pay 50-100K per sq. mt. for a condo, with possible noise problems, building maintence issues, etc. My property will have room for kids to play and offer peace and quiet.

Smartblock, double-paned windows with screens, granite floors, etc. etc. and you've got a great place to live.

To each his own. My path is the best for me.

[pkrv]

i just can't see myself spending 7 million baht for a 65m2 shoebox. Isn't this a third world country? i guess many of you are willing to do just that or the prices would be lower.

It all depends on the individual and what they enjoy. Me, I avoid BKK like the plague. For me, too many people, vehicles, noise, and bad air. But for some folks I guess BKK is an exciting city; so if you want to live there you have to pay the price.

I've got over 5 rai (just outside Udon Thani) and may soon buy closer to town as we just had a kid and it will be easier once the child starts going to school.

For 7 million baht here I could literally have a well-built mansion on a decent sized piece of property. I'm going to build a house of 304 sq. mt. (already have plans drawn) and it should come in at just less than 3 mill baht.

It boggles my mind that someone would pay 50-100K per sq. mt. for a condo, with possible noise problems, building maintence issues, etc. My property will have room for kids to play and offer peace and quiet.

Smartblock, double-paned windows with screens, granite floors, etc. etc. and you've got a great place to live.

To each his own. My path is the best for me.

I asume you have thai partner?

Edited January 9, 2008 by pkrv

[bingobongo]

you be the judge.......where BMR stands for Bangkok Metroplitan Region

Edited January 9, 2008 by bingobongo

[Irene]

you be the judge.......where BMR stands for Bangkok Metroplitan Region

Thank you for the graphic which is most interesting. However, there is a distortion due to the boom on high-prices houses of more than 50 million baht per unit a few years ago. Hence, there was a big jump then and now one hardly see development of high-priced units of more than one rai. The Association should have excluded these units to ascertain the trend. For example, restrict the compilation on not more than 100 sq wah houses. Anyhow it is still interesting because it shows a slow rise in each unit pre boom time on quality houses.

[Irene]

i just can't see myself spending 7 million baht for a 65m2 shoebox. Isn't this a third world country? i guess many of you are willing to do just that or the prices would be lower.

Is it over-priced? I hate to say it; that depends. It depends on the location. There are deals made on shoeboxes along sukhumvit soi 5 to 63 at the highest level of Baht 140,000 per square meter giving a net yield of rental income of 5% if it is near to the BTS stations. Third country or not, the working of the market is such that there is not enough supply to meet the demand of expatriates for quality accommodation in the right area. If yours is outside this area and not much potentials like near to a supermarket, then I would say it is over-priced.

[Heng]

If you don't want to shop at Villa, there's always Tesco-Lotus, Y&R.

But you are getting Mom and Pop goods for Paragon Gourmet Market Prices

I'd hate to see what the Mom and Pop shops are selling then.

[Heng]

If you don't want to shop at Villa, there's always Tesco-Lotus, Y&R.

Villa market? Is it not the place who change stickers when the use date is passed ?

2 times was to much for me ... will go to tesco or carrefour any day !

There's a quick and easy fix for that. Don't buy anything with stickers pasted over the original dates.

[Captain Chaos]

i just can't see myself spending 7 million baht for a 65m2 shoebox. Isn't this a third world country? i guess many of you are willing to do just that or the prices would be lower.

It's a difficult situation because upon making comparison with other major centres, Bangkok properties do indeed seem cheap. It is when you actually look at the property, the quality of the materials used and the workmanship and the way some are managed that you start to scratch your head. Then when you factor in the uncertainty which surrounds any major purchase in Thailand and the fact that the Thai property market doesn't necessarily always follow the principles of other property markets that one gets more nervous.

I have always felt that property in Bangkok is a decent purchase if you plan to live in the property for a long time. But if you wish to invest, or are not sure what your future holds, then perhaps renting is a better option.

Wot Stick said - especially the last two lines!

CC

[legag]

It's alway over priced here in BKK and in big cities. Why even be surprised

Edited January 10, 2008 by legag

[LoveDaBlues]

i just can't see myself spending 7 million baht for a 65m2 shoebox. Isn't this a third world country? i guess many of you are willing to do just that or the prices would be lower.

It all depends on the individual and what they enjoy. Me, I avoid BKK like the plague. For me, too many people, vehicles, noise, and bad air. But for some folks I guess BKK is an exciting city; so if you want to live there you have to pay the price.

I've got over 5 rai (just outside Udon Thani) and may soon buy closer to town as we just had a kid and it will be easier once the child starts going to school.

For 7 million baht here I could literally have a well-built mansion on a decent sized piece of property. I'm going to build a house of 304 sq. mt. (already have plans drawn) and it should come in at just less than 3 mill baht.

It boggles my mind that someone would pay 50-100K per sq. mt. for a condo, with possible noise problems, building maintence issues, etc. My property will have room for kids to play and offer peace and quiet.

Smartblock, double-paned windows with screens, granite floors, etc. etc. and you've got a great place to live.

To each his own. My path is the best for me.

I asume you have thai partner?

Yes, legally married. But I could do the same without a wife. Study the law and options available.

[pkrv]

i just can't see myself spending 7 million baht for a 65m2 shoebox. Isn't this a third world country? i guess many of you are willing to do just that or the prices would be lower.

It all depends on the individual and what they enjoy. Me, I avoid BKK like the plague. For me, too many people, vehicles, noise, and bad air. But for some folks I guess BKK is an exciting city; so if you want to live there you have to pay the price.

I've got over 5 rai (just outside Udon Thani) and may soon buy closer to town as we just had a kid and it will be easier once the child starts going to school.

For 7 million baht here I could literally have a well-built mansion on a decent sized piece of property. I'm going to build a house of 304 sq. mt. (already have plans drawn) and it should come in at just less than 3 mill baht.

It boggles my mind that someone would pay 50-100K per sq. mt. for a condo, with possible noise problems, building maintence issues, etc. My property will have room for kids to play and offer peace and quiet.

Smartblock, double-paned windows with screens, granite floors, etc. etc. and you've got a great place to live.

To each his own. My path is the best for me.

I asume you have thai partner?

Yes, legally married. But I could do the same without a wife. Study the law and options available.

You are correct each must chose the best path dependent on situation - I don't have a Thai partner so the freeholds available with condos are the most realistically safe option - horses for courses

[quiksilva]

you be the judge.......where BMR stands for Bangkok Metroplitan Region

The OP asked about condos not houses

[naka]

i just can't see myself spending 7 million baht for a 65m2 shoebox. Isn't this a third world country? i guess many of you are willing to do just that or the prices would be lower.

It all depends on the individual and what they enjoy. Me, I avoid BKK like the plague. For me, too many people, vehicles, noise, and bad air. But for some folks I guess BKK is an exciting city; so if you want to live there you have to pay the price.

I've got over 5 rai (just outside Udon Thani) and may soon buy closer to town as we just had a kid and it will be easier once the child starts going to school.

For 7 million baht here I could literally have a well-built mansion on a decent sized piece of property. I'm going to build a house of 304 sq. mt. (already have plans drawn) and it should come in at just less than 3 mill baht.

It boggles my mind that someone would pay 50-100K per sq. mt. for a condo, with possible noise problems, building maintence issues, etc. My property will have room for kids to play and offer peace and quiet.

Smartblock, double-paned windows with screens, granite floors, etc. etc. and you've got a great place to live.

To each his own. My path is the best for me.

I asume you have thai partner?

Yes, legally married. But I could do the same without a wife. Study the law and options available.

This is fine for as long as you remain together.

Naka.

[LoveDaBlues]

i just can't see myself spending 7 million baht for a 65m2 shoebox. Isn't this a third world country? i guess many of you are willing to do just that or the prices would be lower.

It all depends on the individual and what they enjoy. Me, I avoid BKK like the plague. For me, too many people, vehicles, noise, and bad air. But for some folks I guess BKK is an exciting city; so if you want to live there you have to pay the price.

I've got over 5 rai (just outside Udon Thani) and may soon buy closer to town as we just had a kid and it will be easier once the child starts going to school.

For 7 million baht here I could literally have a well-built mansion on a decent sized piece of property. I'm going to build a house of 304 sq. mt. (already have plans drawn) and it should come in at just less than 3 mill baht.

It boggles my mind that someone would pay 50-100K per sq. mt. for a condo, with possible noise problems, building maintence issues, etc. My property will have room for kids to play and offer peace and quiet.

Smartblock, double-paned windows with screens, granite floors, etc. etc. and you've got a great place to live.

To each his own. My path is the best for me.

I asume you have thai partner?

Yes, legally married. But I could do the same without a wife. Study the law and options available.

This is fine for as long as you remain together.

Naka.

I respectfully disagree but won't get into a debate over this issue. It's been discussed ad nauseam on this forum many, many times. I'm in the camp that believes with the proper legal documents in place it's possible to protect one's right under Thai law to live forever in the house he has built. IMHO of course.

[pkrv]

I guess to the OP's original question "Do Condos Seem Over Priced In Bkk To Anyone Else". These projects/units span pretty much all wealth catagories and include freehold and leasehold options, 49% options and 51% options.

I think this a daft question.

[LoveDaBlues]

I guess to the OP's original question "Do Condos Seem Over Priced In Bkk To Anyone Else". These projects/units span pretty much all wealth catagories and include freehold and leasehold options, 49% options and 51% options.

I think this a daft question.

You're right. Topic could have easily been, "Do Condos Seem Under Priced In Bkk To Anyone Else".

[ray08]

Do Condos Seem Over Priced In Bkk To Anyone Else???

Compared to , London , Moscow , New York ,Sydney , Hong kong , Singapore , we all know the answer , if the question is are they overpriced for a City like Bangkok ? Well depends how you look ,

If straight out Rental return , they look pretty good ,

Capital Gain , Not as optimistic due to New property always being the flavor of the day .

As long term to live in, they are Ok, something decent will still set you back thb 20m - 30m and more for a bit more room .

But in the general sense i think they are being pushed up too fast in Asking Price , eg off the plan for thb 90psm them when still not complete asking Thb 130psm , lots of examples , Plaza Athenee , The Met , Icon ?? ( corner Sathorn , next to Chong Nonsi Station ) , etc

I think if there was a more stable and open governemnet with friendly foreign investor polices the prices might stack up better,

[Irene]

Do Condos Seem Over Priced In Bkk To Anyone Else???

Compared to , London , Moscow , New York ,Sydney , Hong kong , Singapore , we all know the answer , if the question is are they overpriced for a City like Bangkok ? Well depends how you look ,

If straight out Rental return , they look pretty good ,

Capital Gain , Not as optimistic due to New property always being the flavor of the day .

As long term to live in, they are Ok, something decent will still set you back thb 20m - 30m and more for a bit more room .

But in the general sense i think they are being pushed up too fast in Asking Price , eg off the plan for thb 90psm them when still not complete asking Thb 130psm , lots of examples , Plaza Athenee , The Met , Icon ?? ( corner Sathorn , next to Chong Nonsi Station ) , etc

I think if there was a more stable and open governemnet with friendly foreign investor polices the prices might stack up better,

Well said!

[LivinLOS]

The world is just starting to see the effects off a credit contraction.. At the same time theres going to be massive inflation and a global recession.. Speculative property bubbles the world over are going to pop..

So you can see where I stand !!

[thailand_tom]

i just can't see myself spending 7 million baht for a 65m2 shoebox. Isn't this a third world country? i guess many of you are willing to do just that or the prices would be lower.

yes..very over priced..i can buy a bigger & more beautiful condo here in the usa..for less money..i would rent and see if it's an area you even like. also..we the usa..is in or going into a recession..watch the chinese yuan..since that is the only reason the thai balt is so strong..china has the highest inflation it had in the last 11 years..the yuan by most economists needs to appricate 50%..we have made china..china exports over 200 billion of their 270 billion of exports to the united states..jobs are disappearing..sub prime loans are killing us..stock market..gas prices..war in iraq & afganistian etc..less and less money to spend..on chinese goods..the 240,000 new chinese millionares we created in 2007 better save their money..because we will elect a dem. president..this year..the dem..were not able to put tarrif's on chinese products coming into the united states.. due to bush..but..look out its coming..either an apprciation of the yuan or tarriff's=more balt for the buck..

[bingobongo]

nothing "seems" overpriced becasue they ARE in fact overpriced, if not, why are starts plummeting...........

so have a helping of denial with som tham

New condo launches likely to fall 25%

New condominium launches this year are likely to drop by 25% from 2007 due to higher competition in the market and rising construction costs, says Mayta Chanchamcharat, chief executive officer of the developer Plus Property Co. New condo units would total less than 30,000, down about 25% from last year.

http://www.bangkokpost.com/Business/16Jan2008_biz44.php som tham if it helps

Edited January 17, 2008 by bingobongo

[billaaa777]

The basic Economic Principle of Supply and Demand determines the cost of the condos and as it does with almost everything else. If there were not buyers at the present prices then the prices would drop until the buyers started to buy.

[Irene]

The basic Economic Principle of Supply and Demand determines the cost of the condos and as it does with almost everything else. If there were not buyers at the present prices then the prices would drop until the buyers started to buy.

Yes, that makes sense. But the whole question is whether the existing demand sustainable or whether it is only a temporary rise forced by fictitious demand.