Advertised Condo Rental Price Versus Realistic

[xjessie007]

Agree, there is no need to use "f--d" language here.

[Scott123]

dup

Edited June 25, 2009 by Scott123

[Scott123]

Completely disagree! This is now very much a tenants market and in that area

many Japanese and executives from other countries have been sent home.

The market comprises a very wide variety of onwers with differing capabilities

of riding out this downturn and now some will even drop their pants to get a tenant.

Just go around as many as you can without expressing any opinions/ feelings

during the inspection and then go back to them and submit a low offer and you will find

at least one of them will buckle

You are assuming that OP is such an easy going guy that he can live in any apartment.

Based on my personal experience, after viewing 20 apartments, I can usually pick one or two that I like (otherwise I will continue looking).

I will pay a reasonable market price rent to an apartment I like rather than renting the most bargained down apartment.

[Bobsyouruncle]

Completely disagree! This is now very much a tenants market and in that area

You would be suprised. You are incorrect - let me give u some recent examples in the last 3 weeks FACT not economic assumption!

Baan Siri 24 - 3 bedroom asking price 100,000 - would not accept 85,000 (3 units different owners) min 90,000

Siri Residence - 3 bedroom asking price 110,000 - lowest acceptable to him 100,000

Casa 24 - 3 bedroom 95,000 - building owner unwilling to accept anything less than 90,000 (Watch the elec,ubc,water,internet charge here)

Ideal 24 - 4 Bedroom 180,000 - will not accept less than 150,000 (lowest floor unit)

Prime Mansion 31 - 2 bedroom 105,000 - no less than 90,000.

The above are all Thai owners and the units furnished to a well above average standard.

Emporio - didn't check but knowing Thai landlords they will put them on at a high price with little margin for bargaining simply because its new and offers BIG FACE if you stay there because its the newest to open

I would hardly say they are dramatic drops in prices due to the economic crisis. There are still a lot of japanese executives in my condo on 24 and more arriving almost weekly - 90% occupancy is Japanese! Tenants market in phrom pong area is a myth when it comes to the higher end.

And quite frankly the Thai's who purchased the above level of condo (upto 35million baht) have enough cash to just leave it empty - and believe me that is exactly what they do - ask any of the better agents in that area they will agree.

Well I'm not an estate agent whereas obviously you are to be able to rattle off

all these examples.

There is a huge disparity between what your saying and my recent experience

I only know that after accompanying friend around a large number of fully finished available condos

about two months ago-many of the owners we met where actually present in the properties

all weekend to try and generate some enthusiasm. After my friend was contacted

incessantly by a number of these owners where they almost pleaded with him

to choose their property. After this just to test the market offers were submitted

at between 25-30 % below the asking and not one owner disagreed!

As you and I are unlikely to agree on this -the best solution is for the OP

and any others reading this thread to try submitting a low offer-I mean it doesn't

cost anything and who knows somebody might accept -after all

that is the usual way markets operate isn't it ( except for those

who think Bangkok is miraculously different from the rest of the world ) !

Let me guess.

Your friends budget was 10-15k per/mth right?

High end rentals are still doing a brisk trade in Bangkok.

My condo has had an average occupancy rate of 92% over the past 5 years.

[midas]

Completely disagree! This is now very much a tenants market and in that area

You would be suprised. You are incorrect - let me give u some recent examples in the last 3 weeks FACT not economic assumption!

Baan Siri 24 - 3 bedroom asking price 100,000 - would not accept 85,000 (3 units different owners) min 90,000

Siri Residence - 3 bedroom asking price 110,000 - lowest acceptable to him 100,000

Casa 24 - 3 bedroom 95,000 - building owner unwilling to accept anything less than 90,000 (Watch the elec,ubc,water,internet charge here)

Ideal 24 - 4 Bedroom 180,000 - will not accept less than 150,000 (lowest floor unit)

Prime Mansion 31 - 2 bedroom 105,000 - no less than 90,000.

The above are all Thai owners and the units furnished to a well above average standard.

Emporio - didn't check but knowing Thai landlords they will put them on at a high price with little margin for bargaining simply because its new and offers BIG FACE if you stay there because its the newest to open

I would hardly say they are dramatic drops in prices due to the economic crisis. There are still a lot of japanese executives in my condo on 24 and more arriving almost weekly - 90% occupancy is Japanese! Tenants market in phrom pong area is a myth when it comes to the higher end.

And quite frankly the Thai's who purchased the above level of condo (upto 35million baht) have enough cash to just leave it empty - and believe me that is exactly what they do - ask any of the better agents in that area they will agree.

Well I'm not an estate agent whereas obviously you are to be able to rattle off

all these examples.

There is a huge disparity between what your saying and my recent experience

I only know that after accompanying friend around a large number of fully finished available condos

about two months ago-many of the owners we met where actually present in the properties

all weekend to try and generate some enthusiasm. After my friend was contacted

incessantly by a number of these owners where they almost pleaded with him

to choose their property. After this just to test the market offers were submitted

at between 25-30 % below the asking and not one owner disagreed!

As you and I are unlikely to agree on this -the best solution is for the OP

and any others reading this thread to try submitting a low offer-I mean it doesn't

cost anything and who knows somebody might accept -after all

that is the usual way markets operate isn't it ( except for those

who think Bangkok is miraculously different from the rest of the world ) !

Let me guess.

Your friends budget was 10-15k per/mth right?

High end rentals are still doing a brisk trade in Bangkok.

My condo has had an average occupancy rate of 92% over the past 5 years.

No the asking rent was 55,000 per month.

And look at this latest Post #8 in this thread about the Thai economy .........

" We are making a local BKK move into another condo. Previously 65K a month which I could not even think about at that price. Now discounted to 35K! The glut of condos in the Sukhimvit area is growing with hundreds more coming on line by 2011."

http://www.thaivisa.com/forum/Economic-Rec...rn-t277749.html

There is one direction that rents can go

Edited July 6, 2009 by midas