Building Condos?

[sbaker8688]

Does anyone have information, or experience with building condos in Thailand?

I am not talking something big - I am talking small. Maybe a two story building, with two units per floor, for a total of four units. Now, of course I understand that everything "depends" so to speak. If you want gold-plated fixtures, 5000 sq. ft per unit, blah blah, then of course you can send even a small project into the millions of USD. And if you choose to buy the most expensive real-estate in the middle of Bangkok, well....

But I'm not interested in something big-time. I'm interested in something small-time. My question is whether my partners and I even have enough dough to possibly contemplate the idea any further. I know that in the United States, even a small project like I just described will cost a minimum of a million USD. That's on an average lot in an average location.

I suppose my question is: On average, what would an average-sized small condominium project like I just described cost to build, on an average-sized, average-priced lot in an average district in Thailand? Many will still not get the point of my question and will tell me "it depends on a million factors - be more specific." But that answer doesn't help me. I can't be more specific right now, and there is no point in my going to hire an architect, price land, or do anything else at this juncture in order to be able to get more specific when I don't even have a rough idea of what's possible and what's impossible.

I don't want a specific price or cost from anyone. I just want possibilities and general price ranges. Lets say I could put my hands on a couple hundred grand USD. I just want to know something on the order of "Stop, do not pass go, do not collect $200 - you cannot even begin to contemplate even the most cheapest of projects with 200 grand USD." Or "Well, depending on many factors, including the price of land you buy, the size of the units you choose to build, etc. 200 grand could possibly at least put you in the ballpark for looking at the idea further."

Thanks.

[monty]

I'll give some ballpark figures, everything is in square meters ( equals roughly 9 square feet) and the location Pattaya/Jomtien

Land prices go between 2500 and 5000 Baht/sqm. This is ready to build on land, not on the beach but not to far from the center of town.

Construction prices are between 7000 and 15000 Baht/sqm, depending on quality.

This is total living area, not only the area of the ground floor. Two stories of each 100sqm gives you 200sqm to pay.

Above prices are just land and building prices. No interiors, floors, interior doors etc. included.

For totally finished construction with everything in place like aircons, kitchens, furniture you can double the price.

[Harmonica]

Does anyone have information, or experience with building condos in Thailand?

I am not talking something big - I am talking small.  Maybe a two story building, with two units per floor, for a total of four units.  Now, of course I understand that everything "depends" so to speak.  If you want gold-plated fixtures, 5000 sq. ft per unit, blah blah, then of course you can send even a small project into the millions of USD.  And if you choose to buy the most expensive real-estate in the middle of Bangkok, well....

But I'm not interested in something big-time.  I'm interested in something small-time.  My question is whether my partners and I even have enough dough to possibly contemplate the idea any further.  I know that in the United States, even a small project like I just described will cost a minimum of a million USD.  That's on an average lot in an average location.

I suppose my question is:  On average, what would an average-sized small condominium project like I just described cost to build, on an average-sized, average-priced lot in an average district in Thailand?  Many will still not get the point of my question and will tell me "it depends on a million factors - be more specific."  But that answer doesn't help me.  I can't be more specific right now, and there is no point in my going to hire an architect, price land, or do anything else at this juncture in order to be able to get more specific when I don't even have a rough idea of what's possible and what's impossible.

I don't want a specific price or cost from anyone.  I just want possibilities and general price ranges.  Lets say I could put my hands on a couple hundred grand USD.  I just want to know something on the order of "Stop, do not pass go, do not collect $200 - you cannot even begin to contemplate even the most cheapest of projects with 200 grand USD."  Or "Well, depending on many factors, including the price of land you buy, the size of the units you choose to build, etc. 200 grand could possibly at least put you in the ballpark for looking at the idea further."

Thanks.

No need to even delve deeply into this because NOW is the wrong time to lay out cash for RE. Wait for one year and you'll see why.

[Dakhar]

Umm

I guess I have done a bad thing according to the above post.

Here it goes.... I just recently had a 7 Town house complex built much like you described. It is a 2 story complex. 2bdr,1 bath, Living room area, an attached wash area for clothes no kitichen, no AC, no Hot water.

It cost around 80K, land, dirt work, taxes, build etc. I had it built along Clong 6. It ran about 16$USD to have built, and again that includes everything.

[Digger]

Umm

I guess I have done a bad thing according to the above post.

Here it goes....  I just recently had a 7 Town house complex built much like you described.  It is a 2 story complex.  2bdr,1 bath, Living room area, an attached wash area for clothes no kitichen, no AC, no Hot water.

It cost around 80K, land, dirt work, taxes, build etc.    I had it built along Clong 6.  It ran about 16$USD to have built, and again that includes everything.

<{POST_SNAPBACK}>

Provided you have used your own capital and not borrowed money I would not be worrying at this moment. Just concentrate on getting the units let quickly and get cash coming in.

[sbaker8688]

No need to even delve deeply into this because NOW is the wrong time to lay out cash for RE.  Wait for one  year and you'll see why. 

<{POST_SNAPBACK}>

Why? What's going on?

[Dakhar]

Umm

I guess I have done a bad thing according to the above post.

Here it goes....  I just recently had a 7 Town house complex built much like you described.  It is a 2 story complex.  2bdr,1 bath, Living room area, an attached wash area for clothes no kitichen, no AC, no Hot water.

It cost around 80K, land, dirt work, taxes, build etc.    I had it built along Clong 6.  It ran about 16$USD to have built, and again that includes everything.

<{POST_SNAPBACK}>

Sorry guys/gals

I just read my post.... I didn't write it too accuratley. It was 16$ USD a square foot, and total around 80K USD to have built (tax, dirt work, land) turn key.

Oh and to Digger. Yes I did pay it all off, no loans.

Depending how fast they rent out... I may do it again.

[OldAsiaHand]

As with any real estate project, everything depends on the location. In Bangkok, for example, right now your average construction costs would probably be in the neighborhood of B20,000 - B25,000 per square meter because construction companies are busy and can get higher prices. Land costs here vary so wildly that they really can't be benchmarked unless you give us a reasonably specific area in the city.