Would You Buy Condo Now In Bangkok?

[whitethai]

Would you buy new budget condo now in Bangkok?

IF so where? and how much is it?

And what type of condo can you get now for £UK25000?

Edited September 21, 2009 by whitethai

[ESB7]

Would you buy new budget condo now in Bangkok?

IF so where? and how much is it?

And what type of condo can you get now for £UK25000?

Due to the poor exchange rate of 54 Baht-£ as today, you wont get very much for your money....

[richard_smith237]

£25K - Maybe gets you a single 35 sqm studio on the outskirts...

[trogers]

Make it £30,000 and you can get a 45m2 1-bedroom at Prakhanong, 4 train stations from Asoke.

[hearditallbefore]

Yeah, always a good time to buy a CONdo so I can raise your general maintenance fee every month so that it's cheaper to just rent a condo than buy one....ha ha ha.... and when you refuse to pay it, then a lien will be placed on your condo so we are guarenteed to get our cut until you are so pissed off you just sell it cheap, our fees are deducted from your sales price and we laugh all the way to the bank while you are telling all of your friends how stupid WE are....ha ha ha

Edited September 21, 2009 by hearditallbefore

[mauiguy90]

Would you buy new budget condo now in Bangkok?

IF so where? and how much is it?

And what type of condo can you get now for £UK25000?

When I bought my condos 6-7 years ago, people kept asking me why I was buying when it was so cheap to rent. Now, everyone tells me how lucky I was that I bought then. Funny how short some people's memories are!!! The same guys who make fun of you today, probably won't be able to afford living here in 5 years from now. Then you will be the one laughing!

[whitethai]

Yeah I could have bought in 2007 a NEW one Pattaya for 22 grand now I spent that on bills in UK the country I hate and stuck in

Kickin myself for that

Would you buy new budget condo now in Bangkok?

IF so where? and how much is it?

And what type of condo can you get now for £UK25000?

When I bought my condos 6-7 years ago, people kept asking me why I was buying when it was so cheap to rent. Now, everyone tells me how lucky I was that I bought then. Funny how short some people's memories are!!! The same guys who make fun of you today, probably won't be able to afford living here in 5 years from now. Then you will be the one laughing!

Edited September 21, 2009 by whitethai

[whitethai]

Make it £30,000 and you can get a 45m2 1-bedroom at Prakhanong, 4 train stations from Asoke.

Is that YOUR condo?

[whitethai]

Is there another ASIAN country to buy BETTER?

Edited September 21, 2009 by whitethai

[Travel2003]

Is there another ASIAN country to buy BETTER?

So you are willing to relocate to any country, as long as the price is right?

[trogers]

Make it £30,000 and you can get a 45m2 1-bedroom at Prakhanong, 4 train stations from Asoke.

Is that YOUR condo?

I bought one beginning of this year, staying in it while my home is under renovation, and will be kept for leasing thereafter. But there will be other units for sale around Bt35-36k/m2. My cousin just booked a unit and transferring next week.

[mmushr00m]

yes, looking at another one by the river.

Also agree with mauiguy90, couldve bought one afew years ago but thought it was too expensive and waited for the bubble to burst. Now I look at it and think Im an idiot.

[ggarbas]

Mate, My advice is that you buy nothing permanent in Thailand. Many good reasons if you want to preserve your savings. Just do some inquiries. If anyone is honest to you that bought property here they will tell you that it was a big mistake.

[ggarbas]

With my experiance of living the past 11 years in Thailand, I would advise you not to buy any property or home in Thailand. Just a very poor investment. Big benefit for your Thai wife and her family but no benefit to you or your family.

[sorensen]

They say buying a condo or any real-estate for thet matter is all about LOCATION-LOCATION & Location, but I think timing is equally important.

If you bought 5-7 years ago, when the Baht was 42 to the US-$ and the Bangkok property market was depressed, you would be smiling today.

If you bought shortly before the 1997 crash when the baht was 25 to the US-$ and prices sky hight, you would still be under water today, 12 years later.

That said, you can always find good deals, just do your homework.

[George4]

Depends where you want to live. If it's Suhkumvit,Sathorn, not at 25000 quid (1,369,491.81) you wont.

Most farang would consider 32sqm uncomfortable 45 sqm to 50sq m bearable and 55sqm to 110 sq mt comfortable.

If a building is decent you won'tget much at under 50K per sq mt and if it's new you're talking 80K to 135K per sq m.

10 years ago you could have bought 50sqm from the bank and they were 1.43 million inc and thay was considered a steal then

Even if you could find something that cheap it would have to be in a building in one helluva bad state and you'd be as well drinking your money.

The best deal I've seen in the area was 46sqm and that was over 5Ok sterling and I have seen dozens.

The problem with buying outside these areas is you can buy something that look good now but after 5 years of mainly Thai ownership many of them turn to slums.

You can bet those who wont end up that way are being sold at much the same price as Sukhumvit and have a high maintance charge

[emsfeld]

Depends on your personal situation, eg what's the main use of the property?

a) Holiday home?

\ Permanent home?

c) Expecting large capital gains?

d) Rental income?

If a) or c), I wouldn't buy one. \ or d) would be my reasons to own condos in BKK.

Edited September 22, 2009 by emsfeld

[Surfing Spleen]

Depends on your personal situation, eg what's the main use of the property?

a) Holiday home?

\ Permanent home?

c) Expecting large capital gains?

d) Rental income?

If a) or c), I wouldn't buy one. \ or d) would be my reasons to own condos in BKK.

+1 on the above for Sukhumvit area/CBD. IMHO you're probably better off renting if you don't mind living a distance away from Sukhumvit such as Lad Phrao, Ramkamhaeng, Bangna, etc.

[emsfeld]

+1 on the above for Sukhumvit area/CBD. IMHO you're probably better off renting if you don't mind living a distance away from Sukhumvit such as Lad Phrao, Ramkamhaeng, Bangna, etc.

Lower Ramkamhaeng area will be quite well connected soon due to the Airport Link. Friends of mine live in Ram Soi 4 which I find is a nice, peaceful area and the station at NasaVegas is within 5-10 mins walk reach. Thong Lor and Ekkamai are quite close too (great to reach by motorcycle). Also some areas on Ratchadapisek are well connected to MRT - so not bad either. In terms of rentals these areas are not only reasonably attractive to foreigners but also to rather affluent Thais, thus, opening quite a few more segments of the market. That is, of course, if you are not only interested in the prime-price segment (eg penthouses) - which I stay away from for many reasons (price being one of them ).

[seank]

I looked into buying at the start of the year bu I heard so many horror stories so even though I am losing money each month I'm staying a renter.

[whitethai]

Alright I will not buy ad stick to UK however expensive it is for a box

I was going to buy to live

Whats the buyer situation in othe asian countries?

Anyone know please?

[trogers]

Alright I will not buy ad stick to UK however expensive it is for a box

I was going to buy to live

Whats the buyer situation in othe asian countries?

Anyone know please?

Freehold condo in Singapore - 1-bedroom 43m2 priced at Bt20m, 2 MRT stations from Orchard. Interested?

[rgs2001uk]

Alright I will not buy ad stick to UK however expensive it is for a box

I was going to buy to live

Whats the buyer situation in othe asian countries?

Anyone know please?

Before parting with your hard earned cash, I would check on the residency requirements for those countries.

Anyone with money can buy property, but will you ever be able to live in it if you dont meet the financial rules imposed.

Also try living in the country first and see if you would actually want to live there.

It would be very easy for me to buy say a 2.5 million baht condo tomorrow, but its of no use to me if I dont qualify for an annual visa extension due to not having the financial minimum in the bank or meet the monthly minimum income extension rules.

Plenty of cheap properties in Asia, they are cheap for a reason.

[Scott123]

When I bought my condos 6-7 years ago, people kept asking me why I was buying when it was so cheap to rent. Now, everyone tells me how lucky I was that I bought then. Funny how short some people's memories are!!! The same guys who make fun of you today, probably won't be able to afford living here in 5 years from now. Then you will be the one laughing!

His question is if to buy now. He didn't asked if he should have bought 7 years ago.

There are some people now regret buying 1 year or 2 years ago, some buyers even walked away from thier deposits on new developments.

And 5 years from now....who knows...properties may or may not raise values in the next 10 years.

[ballbreaker]

The same guys who make fun of you today, probably won't be able to afford living here in 5 years from now. Then you will be the one laughing!

I suppose its possible but I currently pay 5k baht less a month for a much better place and location than I had five year ago. Granted I moved further down Sukhumvit but skytrain makes life very easy.

Edited September 23, 2009 by ballbreaker

[Scott123]

The same guys who make fun of you today, probably won't be able to afford living here in 5 years from now. Then you will be the one laughing!

I suppose its possible but I currently pay 5k baht less a month for a much better place and location than I had five year ago. Granted I moved further down Sukhumvit but skytrain makes life very easy.

Yep, me too. I just renewed my rental contract and I am now paying 2K less per month for the exact same place. The owner knows there are plenty of vancant units in this condo building for rent (Sukhumvit soi 11), and that there are less expat and long-stay people now than before. She told me she was just glad that I wanted to stay.

[Minpin]

Hindsight is 20/20 vision. Who knows about the future.

When the subject of renting or buying crops up I give this example. A friend came to Thailand to retire. Everyone's advice that he sought, said rent. Against all advice he purchased. Condo at 2 million baht at 25 baht to the dollar = 80,000 dollars. 14 years later has to go home. His condo is 30% occupied. Sold at 1 million baht, at 42 to the baht =23809 dollars. Net loss 77,619 dollars

Rental value 5,000 a month? Times 14 years=840,000 average exchange rate 38 to the baht = 22105 dollars Total loss = 55514 dollars.

But hey, if he had hindsight he could have rented until the exchange rate was in his favour and bought. Then when the exchange rate was right he could have sold.

The best advice given on numerous times on TV is only invest what you can afford to lose. Who can predict the future.

[sorensen]

Hindsight is 20/20 vision. Who knows about the future.

When the subject of renting or buying crops up I give this example. A friend came to Thailand to retire. Everyone's advice that he sought, said rent. Against all advice he purchased. Condo at 2 million baht at 25 baht to the dollar = 80,000 dollars. 14 years later has to go home. His condo is 30% occupied. Sold at 1 million baht, at 42 to the baht =23809 dollars. Net loss 77,619 dollars

Rental value 5,000 a month? Times 14 years=840,000 average exchange rate 38 to the baht = 22105 dollars Total loss = 55514 dollars.

But hey, if he had hindsight he could have rented until the exchange rate was in his favour and bought. Then when the exchange rate was right he could have sold.

The best advice given on numerous times on TV is only invest what you can afford to lose. Who can predict the future.

Actually he lost a bit more. He could have invested his $80,000 in bonds or CD and got a 3% p.a. safe interest rate over the 14 years.

[trogers]

Hindsight is 20/20 vision. Who knows about the future.

When the subject of renting or buying crops up I give this example. A friend came to Thailand to retire. Everyone's advice that he sought, said rent. Against all advice he purchased. Condo at 2 million baht at 25 baht to the dollar = 80,000 dollars. 14 years later has to go home. His condo is 30% occupied. Sold at 1 million baht, at 42 to the baht =23809 dollars. Net loss 77,619 dollars

Rental value 5,000 a month? Times 14 years=840,000 average exchange rate 38 to the baht = 22105 dollars Total loss = 55514 dollars.

But hey, if he had hindsight he could have rented until the exchange rate was in his favour and bought. Then when the exchange rate was right he could have sold.

The best advice given on numerous times on TV is only invest what you can afford to lose. Who can predict the future.

Actually he lost a bit more. He could have invested his $80,000 in bonds or CD and got a 3% p.a. safe interest rate over the 14 years.

This is the story fund managers will tell you. But they do not tell you the other "What if...".

If you had invested progressively in funds over the last 14 years that are linked to stocks and bonds in the US market since 14 years ago, and maintained the investment portfolio to date, your portfolio would now be worth practically zero from the recent crash...

[Newguy70]

I think someone posted it prior "Never invest more that you are willing to walk away from."

However, I think that you must look at what you want, everyone here is giving you what they feel you want. I can gladly spend your money as well (joke). For example, you can find numerous condos for sale at your local Thai Bank, or online for very discount prices (High percentage of old builds) sqm 25-30 for under 300kBHT, rehab it to suit your need.

Plenty of money left over for whatever : )

Yes I would buy, no not new build. Along ramhamkaeng.

Edited September 24, 2009 by Newguy70