Buying Appartment In Bangkok.

[ponder]

I will be coming to Bangkok in January (just for 3 weeks) and I am thinking of buying an appartment there. My intention would be to let the app't for maybe twelve months and later perhaps live in it myself.

Are there any Estate Agents that won't rip off a farang looking to buy a property?

[mango]

Buy a new build straight off the plans. Get good legal advice from more than one firm.

Cheers Mango

[Cabana]

ponder - what sq metre u want and where?

[ponder]

Hi Cabana and Mango.

What I want is an appartment that I will be able to let for maybe 12 months while I decide where I want to live myself.

So I think what I need is a one-bedroom or two-bedroom appartment with all "mod. cons." in an area where letting would not be a problem, probably somewhere near the Skytrain (or is that necesssary?).

Any idea how much such an appartment would cost? Is letting straightforward?

And again, are there any reputable Estate Agents that I could deal with?

Thanks, John.

[Cabana]

Good realtors dealing in 2nd hand units are like gold dust i dont know any. In sukhumvit around Ekkamai BTS the price is 65 per sq metre new for one excellent location quiet soi and less than 10 mins BTS - these says you wont get much for less than 55 per sq metre that's 'rentable' for expats ie quality. Generally prices are in the 55-70 range (quality) that i see advertised. It might however be worth looking at the 2nd hand market round Nana where prices are historically lower in some soi's. My advice might be actually dont buy now and see what happens over next 12 months as signs the market is over-heating.

[ponder]

Thanks for that Cabana. I will have a look around when I get there in january/February

[eljeque]

READ ME!!!!!

Interest rates are rising from "unprecedentedally" low levels. Thais speculate, from the buyers, tot he developers to the cement manufacturers.

Prices will come down in a year, if not earlier, and you will be able to get a better price then.

YOU DO NOT want to buy a place and leave it to a real estate agent in this country. Wait until you move herre in one year, and then study!!!!! Learn about traffic flow, where the foreigners live, where the new roads are going to be built, etc.

Look at the Thai Real Estate Appraisal Website. YOu will learn a lot.

Buy after you have moved here. It is ###### to sell here. Stay in the country or at least Bkk for a long time until you are ready to buy. There is always an oversupply of properties here. It is really better to rent, and to own property in your home country.

Being able to quickly move from one place to another is really a God-send.

[ponder]

Thanks.

That sounds like sensible advice. I am currently doing a 3-month CELTA (TEFL)course and if I pass it I may look for work in Bangkok when I go there in January. So I suppose I could rent for 6 months and then look for somewhere convenient to where I will be working.

Problem with buying is that if I change jobs, I may have to move. So I thought it would be simpler to buy to let and live in rented accommodation. I don't know if that makes sense but that was my idea!

Thanks for your help.

[nokmdk]

Hi Ponder, don't buy now! the price will definitely come down in a yr or few yrs. Also, there are many areas that are still under development. It is better to buy when you actually will be living in Thailand long-term, at that time you can see what the area has to offer you. Sukhumvit and Sathorn are prime locations. But also there are other areas that the gov is planning to extend the subway and sky train to.

It is a good idea to decide where you will be working, then buy an apt in the area. Traffic is a pain here and you don't want to waste time and money on that.

One tip...properties are advertised for cheaper price in THAI LANGUAGE. And many more options as well. Make friends with Thai people and most are willing to help you. Also look for signs along the streets, not just in the papers. Those signs are usually good deal. Good luck!

[mbkudu]

www.citylivingthailand.com

A reliable agent for condos in the Sukhumvit area. Has small units available as well. I have had first hand business with them and they are totally honest and straight forward.

[ZZZ]

Slightly off topic.

Does anyone have first hand information regarding renting out your apartment as a foreigner. I know everyone doing it says just do it and collect the rent.

What are the actual regulations. Is a foreigner allowed to do this without forming a company?

What are the tax implications?

As you will be earning money in the country will you need a work permit or any other form of licensing?

First hand knowledge would be apresiated on this.

[sunchild10]

Hi Mango,

Can you recommend any firms to get advice from? Also do you know of any companies currently building moo barns on the subs of BKK?

Cheers,

sunchild10