Can anyone suggest a good real estate agency or person I could talk to about investing in a condo/condos for income purposes? I’m trying to be realistic considering the glut of condos on the market and the challenging economic times, but I really would like some type of investment income that is denominated in baht if I’m going to live here. Basically I’m interested in a high-end type of place that has good rental demand and a 7-8 percent rate of return. If this type of return seems too optomistic please set me straight.

Thanks in advance

Fearless

Perhaps look at this from the other end - start with the high end condominium buildings and then see what the current rental rates are for each. To begin with I would suggest that you look Floral and the Rimping. There have also been some new buildings finished in the last couple of years such as Twin Peaks but I have heard mixed opinions as to the quality - have a look anyway even if only for a comparison. A bit of leg work before talking to an agency would be prudent on the basis that the agency works for themselves and would love to get paid commission on a sale.

Perhaps look at this from the other end - start with the high end condominium buildings and then see what the current rental rates are for each. To begin with I would suggest that you look Floral and the Rimping. There have also been some new buildings finished in the last couple of years such as Twin Peaks but I have heard mixed opinions as to the quality - have a look anyway even if only for a comparison. A bit of leg work before talking to an agency would be prudent on the basis that the agency works for themselves and would love to get paid commission on a sale.

Thanks, that's a good starting point. It's best to have as much knowledge as possible on my side before I throw myself at the mercy of a real estate agent. One thing I would like to find is someone, with extensive local knowledge, who could give me an honest, objective assessment of the local market. The chances of that happening at a realtor's office are probably slim without walking in with a referral.

160sq mtr condos at Rimping sell for between 6 and 7 million baht and rent for between 32 and 38k baht. I'll leave the maths to you.

There are units for sale at present, just go into the lobby and there is a notice board on the left.

Problem with Rimping is that the percentage return isn't so good.

I don't think you are allowed to give website addresses here. I''ll try this though, I found the mob at chiang mai condos dot net knowledgeable. If this get's chopped PM me.

Are there some good realtors around though?

We're planning on looking around at condos when we stay in CM this winter but really aren't sure how serious we'd be about getting one. Just testing the waters, more or less. Don't really want to waste a lot of a realtor's time. (Although in North America the way they get paid wasting some of their time is probably a good thing.) But in CM, perhaps someone to get the lay of the land and info, accurate info, on the ins and outs. Any suggestions?