Bangkok Apartment Rental Prices

[bkkjames]

As one who looks the the apartment finding forum on TV and elsewhere, I find it hard to believe that the asking prices I see are actually what people are paying, in particular for new builds.

When I see people asking 25-30k a month for 34 sqm on Asoke or as far up the BTS as Onnut, I really wonder if there are that many people here who pay that? Are we not in an oversupply environment in Bangkok? Shouldn't this be a renter's market? I can remember a few years back when the market was tight, one had to basically pay what was being asked because of the supply shortage, but I don't think this is the case now is it?

I suppose there is no harm in asking for as much as you can get, but in reality I would like to get an idea if people who are currently / have recently rented an apartment in Bangkok proper if they were able to get significant discounts from the so called 'posted price'? Thanks.

[BIGTOE3]

As one who looks the the apartment finding forum on TV and elsewhere, I find it hard to believe that the asking prices I see are actually what people are paying, in particular for new builds.

When I see people asking 25-30k a month for 34 sqm on Asoke or as far up the BTS as Onnut, I really wonder if there are that many people here who pay that? Are we not in an oversupply environment in Bangkok? Shouldn't this be a renter's market? I can remember a few years back when the market was tight, one had to basically pay what was being asked because of the supply shortage, but I don't think this is the case now is it?

I suppose there is no harm in asking for as much as you can get, but in reality I would like to get an idea if people who are currently / have recently rented an apartment in Bangkok proper if they were able to get significant discounts from the so called 'posted price'? Thanks.

We pay 9,000 plus elec and water at Victory Monument for about 58 sq m. Max 10 mins from BTS LARGE BALCONY with good views large lounge and seperate double bedroom, good size bathroom. Good local food and social life.

BT

[bkkjames]

As one who looks the the apartment finding forum on TV and elsewhere, I find it hard to believe that the asking prices I see are actually what people are paying, in particular for new builds.

When I see people asking 25-30k a month for 34 sqm on Asoke or as far up the BTS as Onnut, I really wonder if there are that many people here who pay that? Are we not in an oversupply environment in Bangkok? Shouldn't this be a renter's market? I can remember a few years back when the market was tight, one had to basically pay what was being asked because of the supply shortage, but I don't think this is the case now is it?

I suppose there is no harm in asking for as much as you can get, but in reality I would like to get an idea if people who are currently / have recently rented an apartment in Bangkok proper if they were able to get significant discounts from the so called 'posted price'? Thanks.

We pay 9,000 plus elec and water at Victory Monument for about 58 sq m. Max 10 mins from BTS LARGE BALCONY with good views large lounge and seperate double bedroom, good size bathroom. Good local food and social life.

BT

Congrats! I pay 25k+++ for 50+ sqm on sathorn, similar distance to the bts.

[cynthialee]

9800 for a studio 3 seconds from thong lo bts.

give name and addres of victory monumnet apt sir. i want one. i need 24 hr internet shop to do my work.......lol.

[BIGTOE3]

9800 for a studio 3 seconds from thong lo bts.

give name and addres of victory monumnet apt sir. i want one. i need 24 hr internet shop to do my work.......lol.

S J Mansions, Soi Rajchavithi 6, Sam-Sen Nai. 2 Internet shops on Soi ( 1 very modern) but wireless connection in your Apt only 500 per month 24/7.

We have been here for 2 years and no problems.

Hope this helps

BT

[girlx]

Definitely look near Victory Monument (Soi Rangnam) and Ratchaprarop Rd. for cheaper places.

[dotcom]

I think what they are asking is what they will take.

When you see nonsense prices just keep on looking. Let their unit sit empty.

I don't think many of them are into haggling.

[duncaw]

Yeah, most would rather take nothing than settle for less than the asking price.

Similar logic to a bar doubling prices during the low season to try to make up for the lower level of customers.

[cynthialee]

just checked out sj mansion and all apts in immediate area. not one vacancy. very good value. 5000 baht a month.

saw several uni girls going to wherever they go. 10 minute walk is to mc donalds and another 10 minute to bts, is not a good thing for me though.

[bkkjames]

Yeah, most would rather take nothing than settle for less than the asking price.

Similar logic to a bar doubling prices during the low season to try to make up for the lower level of customers.

I think I understand the 'local' mentality as you have pointed out above (rather let them sit empty than negotiate), but I find it hard to believe farang property investors would have the same attitude?

[Wolfie]

I pay 14,000b a month for a 75-80sqm apartment near Sukhumvit Soi 42. Barely furnished, own water/electric/internet bills, and a short taxi ride to the BTS. Decent sized Balcony (enough for a small table and 4 chairs, some plants and a clothes dryer) - 2 bedrooms (quite small), large living room separate kitchen, one bathroom. The property is quite old and looks a little shabby from the outside, but its good condition inside

[Straight8]

As one poster said, one has to question their mentality, they would ask for ridiculous prices and keep place vacant then to negotiate. I keep seeing the same places advertised, but shopping around and some good deals can be found.

[Heng]

I have both places in the 'leased out' and 'sitting empty' category and have certainly come across the frustrated "negotiator" type would be tenant before. Nothing wrong with negotiating, but some people get cranky when you pass on their offer. Can't imagine how much fun these folks would be at the veggies-n-fruit market.

Often times they clearly have issues such as assuming that their bid is automatically the "best" bid and that potential landlords want to hear business/property management advice from would be tenant/on the spot "business consultants."

Edited July 9, 2008 by Heng

[bkkjames]

I have both places in the 'leased out' and 'sitting empty' category and have certainly come across the frustrated "negotiator" type would be tenant before. Nothing wrong with negotiating, but some people get cranky when you pass on their offer. Can't imagine how much fun these folks would be at the veggies-n-fruit market.

Often times they clearly have issues such as assuming that their bid is automatically the "best" bid and that potential landlords want to hear business/property management advice from would be tenant/on the spot "business consultants."

Heng you are well within your right to turn away offers because its your place afterall. But your second paragraph speaks volumes as to why your 'sitting empty' unit is in fact that. It reminds me of a few landlords I have seen who let their places sit empty for years over pride issues. Won't move 10% off the price because they rented it at that price once before 10 years ago. Can't argue with that logic - as this is Thailand where logic is short and pride is long.

[Heng]

I have both places in the 'leased out' and 'sitting empty' category and have certainly come across the frustrated "negotiator" type would be tenant before. Nothing wrong with negotiating, but some people get cranky when you pass on their offer. Can't imagine how much fun these folks would be at the veggies-n-fruit market.

Often times they clearly have issues such as assuming that their bid is automatically the "best" bid and that potential landlords want to hear business/property management advice from would be tenant/on the spot "business consultants."

Heng you are well within your right to turn away offers because its your place afterall. But your second paragraph speaks volumes as to why your 'sitting empty' unit is in fact that. It reminds me of a few landlords I have seen who let their places sit empty for years over pride issues. Won't move 10% off the price because they rented it at that price once before 10 years ago. Can't argue with that logic - as this is Thailand where logic is short and pride is long.

Quite an assumption there BKKJ, and incorrect at that. When you tie yourself up with a contract, there are opportunity costs that aren't always offset by the rental income. I might need a particular property for any number of business purposes in the future, and for some property, some units I have to keep in mind that they might be better servced if used free of charge by other family members. It's not always a matter of price, and I think an awful lot of would be tenants take an approach that would be better suited to flea markets and haggling over misc. bric-a-brac. Some folks also want varying rental contract lengths that aren't desireable in particular situations - anywhere from 3 months to 15+ years. Sometimes that's fine, but often times, again, you get a pass and I'm not sure why that should make you cranky or why it should make one make all kinds of false assumptions..

[dotcom]

I think I understand the 'local' mentality as you have pointed out above (rather let them sit empty than negotiate), but I find it hard to believe farang property investors would have the same attitude?

Now suddenly you want to talk about "farang owners". Different kettle of fish.

There aren't that many of those about. I would expect that "falang" might start out a little bit high & expect to negotiate. Then it would depend on how long the unit has sat empty.

I have done a ton of improvements (very similar to wolfe's set-up). Replaced all the electrical outlets & switches. Have had my unit painted. I would be a good tenant whoi looks after the owners property. Not like the Koreans & Phillipinos I have seen.

[dotcom]

Forgot to mention. I signed a 2 year lease (at my request) & recently extended for a further 2 years (after 12 months).

I am on the building management to replace the lift cars & hoisting gear. Overall 4 stars.

[bkkjames]

I have both places in the 'leased out' and 'sitting empty' category and have certainly come across the frustrated "negotiator" type would be tenant before. Nothing wrong with negotiating, but some people get cranky when you pass on their offer. Can't imagine how much fun these folks would be at the veggies-n-fruit market.

Often times they clearly have issues such as assuming that their bid is automatically the "best" bid and that potential landlords want to hear business/property management advice from would be tenant/on the spot "business consultants."

Heng you are well within your right to turn away offers because its your place afterall. But your second paragraph speaks volumes as to why your 'sitting empty' unit is in fact that. It reminds me of a few landlords I have seen who let their places sit empty for years over pride issues. Won't move 10% off the price because they rented it at that price once before 10 years ago. Can't argue with that logic - as this is Thailand where logic is short and pride is long.

Quite an assumption there BKKJ, and incorrect at that. When you tie yourself up with a contract, there are opportunity costs that aren't always offset by the rental income. I might need a particular property for any number of business purposes in the future, and for some property, some units I have to keep in mind that they might be better servced if used free of charge by other family members. It's not always a matter of price, and I think an awful lot of would be tenants take an approach that would be better suited to flea markets and haggling over misc. bric-a-brac. Some folks also want varying rental contract lengths that aren't desireable in particular situations - anywhere from 3 months to 15+ years. Sometimes that's fine, but often times, again, you get a pass and I'm not sure why that should make you cranky or why it should make one make all kinds of false assumptions..

Heng, I would love to stay here and debate it but I wanna go home and have dinner. Can we carry on tomorrow? If not, I will just conclude by saying your are entitled to be wrong and live in denial, I don't mind. But come on, I know why you keep the second one free, its for your gigs chai mai krup?

Cheers

James

[Heng]

Heng, I would love to stay here and debate it but I wanna go home and have dinner. Can we carry on tomorrow? If not, I will just conclude by saying your are entitled to be wrong and live in denial, I don't mind. But come on, I know why you keep the second one free, its for your gigs chai mai krup?

Cheers

James

All good.

cheers J, and right back at ya'.

I'd like to also add that it's not just some renters who seem to get 'offended' when I don't lease to them, but also property buyers who take the exact same attitude (and in many cases 'more' attitude) to property that we won't sell them ...nevermind the fact that we don't even have any signs posted that we do want to sell anything.

"It's insane and irrational not to sell at this price!"

"Yeah, bye bye."

[NoSpeakIt]

As one who looks the the apartment finding forum on TV and elsewhere, I find it hard to believe that the asking prices I see are actually what people are paying, in particular for new builds.

When I see people asking 25-30k a month for 34 sqm on Asoke or as far up the BTS as Onnut, I really wonder if there are that many people here who pay that? Are we not in an oversupply environment in Bangkok? Shouldn't this be a renter's market? I can remember a few years back when the market was tight, one had to basically pay what was being asked because of the supply shortage, but I don't think this is the case now is it?

I suppose there is no harm in asking for as much as you can get, but in reality I would like to get an idea if people who are currently / have recently rented an apartment in Bangkok proper if they were able to get significant discounts from the so called 'posted price'? Thanks.

there is very little negotiation in my experience. usually, its just 'this is the price. Yes or No?'. the prices are often posted in the lobby downstairs for all to see.

i think you are wrong about soi onut condos 34 sqm going for 25k baht. i am renting a 60m2 apartment a minute walk from lumpini park, a grocery store and the bts/mrt for 30K a month.

if you want to feel better about these price rates, check out a singaporean/hong kong/macau/japan/korea/vietnam/china real estate site.

[bkkjames]

As one who looks the the apartment finding forum on TV and elsewhere, I find it hard to believe that the asking prices I see are actually what people are paying, in particular for new builds.

When I see people asking 25-30k a month for 34 sqm on Asoke or as far up the BTS as Onnut, I really wonder if there are that many people here who pay that? Are we not in an oversupply environment in Bangkok? Shouldn't this be a renter's market? I can remember a few years back when the market was tight, one had to basically pay what was being asked because of the supply shortage, but I don't think this is the case now is it?

I suppose there is no harm in asking for as much as you can get, but in reality I would like to get an idea if people who are currently / have recently rented an apartment in Bangkok proper if they were able to get significant discounts from the so called 'posted price'? Thanks.

there is very little negotiation in my experience. usually, its just 'this is the price. Yes or No?'. the prices are often posted in the lobby downstairs for all to see.

i think you are wrong about soi onut condos 34 sqm going for 25k baht. i am renting a 60m2 apartment a minute walk from lumpini park, a grocery store and the bts/mrt for 30K a month.

if you want to feel better about these price rates, check out a singaporean/hong kong/macau/japan/korea/vietnam/china real estate site.

Maybe you are right about Onnut but here is one from Asoke taken off of Craigslist,,

THB23000 *** asoke near BTS and MRT ***

--------------------------------------------------------------------------------

Brand new studio 35.64 sq.M.on floors 13

-Fully furnish

-Fully fitted kitchen

-Washing machine and Dryer

-Large size of Refrigerator

-Car park

-24 security with CCTV

-Fitnes /Sauna /business center

and another one... THB41000 Apt "Serene Place " Sukumvit 24 (phron phong)

--------------------------------------------------------------------------------

Apartment for rent Sukhumvit 24, "Thanapat Serene Place".

50 sqm, 4" floor.

1 bedroom

1 bathroom

living-room and kitchen corner, balcony.

Fully furnish 2 air conditioned, fridge and freezer, ceramic stove, LCD 32", washing machine.

Facilities : sauna, swimming pool, fitness, 1 car park.

Including in the price : UBC GOLD + japanese channels, internet TRUE 1 MG, TOT x the connection, water, electric, maintenance free.

The price is : THB 41000.

50 sqm for 41,000 baht but includes quite a few extras, UBC at 1500++, electric lets say 1500 baht, water 250 baht? so basically 37500 baht per month.

Looking at the ads it appears they are both relatively new builds but the first one for sure I know is at Grand Parkview Asoke which has been finished for at least a year. Btw, this one was advertised for 25 k a month just 3 days ago.

Regarding your comment about other markets, the key difference is on the supply side, Bangkok is not faced with land shortage issues like say Sing, Hong Kong, Vietnam and China prices are purely driven by lack of supply. We have tons of empty condos in Bangkok.

[GaiYaang]

As one who looks the the apartment finding forum on TV and elsewhere, I find it hard to believe that the asking prices I see are actually what people are paying, in particular for new builds.

When I see people asking 25-30k a month for 34 sqm on Asoke or as far up the BTS as Onnut, I really wonder if there are that many people here who pay that? Are we not in an oversupply environment in Bangkok? Shouldn't this be a renter's market? I can remember a few years back when the market was tight, one had to basically pay what was being asked because of the supply shortage, but I don't think this is the case now is it?

I suppose there is no harm in asking for as much as you can get, but in reality I would like to get an idea if people who are currently / have recently rented an apartment in Bangkok proper if they were able to get significant discounts from the so called 'posted price'? Thanks.

there is very little negotiation in my experience. usually, its just 'this is the price. Yes or No?'. the prices are often posted in the lobby downstairs for all to see.

i think you are wrong about soi onut condos 34 sqm going for 25k baht. i am renting a 60m2 apartment a minute walk from lumpini park, a grocery store and the bts/mrt for 30K a month.

if you want to feel better about these price rates, check out a singaporean/hong kong/macau/japan/korea/vietnam/china real estate site.

Maybe you are right about Onnut but here is one from Asoke taken off of Craigslist,,

THB23000 *** asoke near BTS and MRT ***

--------------------------------------------------------------------------------

Brand new studio 35.64 sq.M.on floors 13

-Fully furnish

-Fully fitted kitchen

-Washing machine and Dryer

-Large size of Refrigerator

-Car park

-24 security with CCTV

-Fitnes /Sauna /business center

and another one... THB41000 Apt "Serene Place " Sukumvit 24 (phron phong)

--------------------------------------------------------------------------------

Apartment for rent Sukhumvit 24, "Thanapat Serene Place".

50 sqm, 4" floor.

1 bedroom

1 bathroom

living-room and kitchen corner, balcony.

Fully furnish 2 air conditioned, fridge and freezer, ceramic stove, LCD 32", washing machine.

Facilities : sauna, swimming pool, fitness, 1 car park.

Including in the price : UBC GOLD + japanese channels, internet TRUE 1 MG, TOT x the connection, water, electric, maintenance free.

The price is : THB 41000.

50 sqm for 41,000 baht but includes quite a few extras, UBC at 1500++, electric lets say 1500 baht, water 250 baht? so basically 37500 baht per month.

Looking at the ads it appears they are both relatively new builds but the first one for sure I know is at Grand Parkview Asoke which has been finished for at least a year. Btw, this one was advertised for 25 k a month just 3 days ago.

Regarding your comment about other markets, the key difference is on the supply side, Bangkok is not faced with land shortage issues like say Sing, Hong Kong, Vietnam and China prices are purely driven by lack of supply. We have tons of empty condos in Bangkok.

Like James said supply side. Pretty expensive.

In the US the rents went up due to many foreclosure and people has to move out of their house and find somewhere else to live.

[kyb789]

I think what they are asking is what they will take.

When you see nonsense prices just keep on looking. Let their unit sit empty.

I don't think many of them are into haggling.

You are not kidding. When I was looking, I found prices laughable. If the owners don't get want they ask, the place just sits empty. They don't understand simple economics and definitely don't understand how much they are loosing month after month without a tenant.

I finally got a great 1 bedroom near Nana for 18k (they wanted 25k!). Fortunately the owner had many empty places and had was willing to negotiate. In return, I spent a lot of my own money to fix the place nice. Now I have a beautiful place in a great location for a decent price.

There is a huge abundance of empty condos now.

[thaihome]

I think what they are asking is what they will take.

When you see nonsense prices just keep on looking. Let their unit sit empty.

I don't think many of them are into haggling.

You are not kidding. When I was looking, I found prices laughable. If the owners don't get want they ask, the place just sits empty. They don't understand simple economics and definitely don't understand how much they are loosing month after month without a tenant.

I finally got a great 1 bedroom near Nana for 18k (they wanted 25k!). Fortunately the owner had many empty places and had was willing to negotiate. In return, I spent a lot of my own money to fix the place nice. Now I have a beautiful place in a great location for a decent price.

There is a huge abundance of empty condos now.

You are probably correct, the owners don’t understand your simple economics because their’s is probably not so simple. I had a friend back in the US rented out a number of houses, he tried to keep a couple empty and did not really like to have full occupancy. He explained that having some empty gave him more flexibility, particularity with liquidity and changes in the market. He was willing to rent them, but tended to put very high rents on them and didn’t care if they went or not.

There may be a “huge abundance of empty condos now” but not in the prime areas.

TH

[Heng]

In return, I spent a lot of my own money to fix the place nice. Now I have a beautiful place in a great location for a decent price.

I'm sure that'll make it easier to lease out next time around.

[bkkjames]

In return, I spent a lot of my own money to fix the place nice. Now I have a beautiful place in a great location for a decent price.

I'm sure that'll make it easier to lease out next time around.

Not if you greedly raise the rent reflecting these improvements, again it will sit empty for months on end thus negating any potential windfall you might have enjoyed if you had rented it orginally

[bkkjames]

This is just for the poster before who 'not on Onnut'

just posted 2 hours ago on another site....

THB21000 " The ROOM " Sukhumvit 79 , 1 bedroom

The ROOM is a new low rise condominium located in aera ON NUT of Sukhumvit . Close to many facilities : Carrefour and Lotus shopping mall .less than 5 minutes walk to BTS ON NUT . Just few minutes drive to Express way and to get to Thonglor and Ekamai . Fully furnished .

1 bed , 1 bath , 38 sqm , 3 floor , swimming pool , fitness , security

[Heng]

In return, I spent a lot of my own money to fix the place nice. Now I have a beautiful place in a great location for a decent price.

I'm sure that'll make it easier to lease out next time around.

Not if you greedly raise the rent reflecting these improvements, again it will sit empty for months on end thus negating any potential windfall you might have enjoyed if you had rented it orginally

Why the focus on rent prices, James? It's only money.

[bkkjames]

In return, I spent a lot of my own money to fix the place nice. Now I have a beautiful place in a great location for a decent price.

I'm sure that'll make it easier to lease out next time around.

Not if you greedly raise the rent reflecting these improvements, again it will sit empty for months on end thus negating any potential windfall you might have enjoyed if you had rented it orginally

Why the focus on rent prices, James? It's only money.

What would you like me to focus on, condo prices?

[Heng]

How about whatever is in front of you.