Thailand. Ok Not A Crash! But...

[Abrak]

OK, so Ive got a question.

I saw this Article about a couple in Mornington Heights, Manhattan Island NY, 15mins away from Times Square, living in a 58sqm condo, the smallest in NY apparently.

They paid $150,000, about 5m THB, or roughly 85,000THB a sqm.

My question is, why on earth are real estate projects in Bangkok, Thailand, being offered at 50%, 100% premiums to Manhattan Island??

A selection of similarly sized and prcied condo's in Bangkok, now officially(un) with real estate the same price as Manhattan periphery

The 'article' mentioned appears to be about a couple in a 17sqm condo, that they paid about Bt300,000 per sqm.

Personally, I dont know why companies bother being high end in Bangkok selling condos for Bt150k/sqm. They dont sell well and the developer doesnt usually make much money.

One of the other reasons that US condo prices are 'not so high' is that their maintenance charges are extortionate. The couple are paying US$700 for a 17sqm place - US$45/sqm/month. A Bangkok condo is more likely to charge Bt45/sqm/month. If you used the balance of the US$700 to buy a condo on a mortgage, you could probably get a 70sqm condo in BKK.

[trogers]

The 'article' mentioned appears to be about a couple in a 17sqm condo, that they paid about Bt300,000 per sqm.

The couple must be living Japanese style in a 17m2 condo unit - the open area serves as living, dining and sleeping area....

[klikster]

The Thai economy is failing you say, by comparison to where pray tell?

And if it is failing, by what measure - can you supply some objective numbers against which we can measure and see the failure because I for one must be missing it, always happy to learn however.

hansnl put up some interesting (objective?) numbers in post # 11.

I wonder how much of the recovery that people are talking about is coming from stimulus generated by government borrowing.

[klikster]

whenever i leave my house for a haircut or a pedicure

Pedicure!!!!

[badge]

OK, so Ive got a question.

I saw this Article about a couple in Mornington Heights, Manhattan Island NY, 15mins away from Times Square, living in a 58sqm condo, the smallest in NY apparently.

They paid $150,000, about 5m THB, or roughly 85,000THB a sqm.

My question is, why on earth are real estate projects in Bangkok, Thailand, being offered at 50%, 100% premiums to Manhattan Island??

A selection of similarly sized and prcied condo's in Bangkok, now officially(un) with real estate the same price as Manhattan periphery

The 'article' mentioned appears to be about a couple in a 17sqm condo, that they paid about Bt300,000 per sqm.

Personally, I dont know why companies bother being high end in Bangkok selling condos for Bt150k/sqm. They dont sell well and the developer doesnt usually make much money.

One of the other reasons that US condo prices are 'not so high' is that their maintenance charges are extortionate. The couple are paying US$700 for a 17sqm place - US$45/sqm/month. A Bangkok condo is more likely to charge Bt45/sqm/month. If you used the balance of the US$700 to buy a condo on a mortgage, you could probably get a 70sqm condo in BKK.

"Zaarath and Christopher Prokop -- and their two cats -- live in the smallest apartment in the city, a 175-square-foot "microstudio" in Morningside Heights the couple bought three months ago for $150,000."

How is 175sqf, 17sqm?

[someoneelse]

"Zaarath and Christopher Prokop -- and their two cats -- live in the smallest apartment in the city, a 175-square-foot "microstudio" in Morningside Heights the couple bought three months ago for $150,000."

How is 175sqf, 17sqm?

It's actually a bit less - 16.25 square metres. Ask google - "175 square feet in square meters"

[someoneelse]

You have no idea what you are talking about. Debtor import nations have the most to lose in the next decade, not surplus export nations like Thailand. There will be volatility but no long term trend down.

Ok - so answer me this: If the debtor import nations are going to lose big time, who are the surplus export nations going to sell their goods to? The moon?

[Naam]

OK, so Ive got a question.

I saw this Article about a couple in Mornington Heights, Manhattan Island NY, 15mins away from Times Square, living in a 58sqm condo, the smallest in NY apparently.

They paid $150,000, about 5m THB, or roughly 85,000THB a sqm.

My question is, why on earth are real estate projects in Bangkok, Thailand, being offered at 50%, 100% premiums to Manhattan Island??

A selection of similarly sized and prcied condo's in Bangkok, now officially(un) with real estate the same price as Manhattan periphery

The 'article' mentioned appears to be about a couple in a 17sqm condo, that they paid about Bt300,000 per sqm.

Personally, I dont know why companies bother being high end in Bangkok selling condos for Bt150k/sqm. They dont sell well and the developer doesnt usually make much money.

One of the other reasons that US condo prices are 'not so high' is that their maintenance charges are extortionate. The couple are paying US$700 for a 17sqm place - US$45/sqm/month. A Bangkok condo is more likely to charge Bt45/sqm/month. If you used the balance of the US$700 to buy a condo on a mortgage, you could probably get a 70sqm condo in BKK.

besides a few "tiny" calculation mistakes the wrong assumption prevails that Manhattan = Manhattan and that is definitely not the case. even in Manhattan the law "location, location, location" prevails and last not least whether it's a building erected before World War One or a rather new one. a friend of mine bought last year a 2-bedroom 94m² (1,010sqf) and paid $1.35 mm = 475,000 Baht per m². his monthly outgoings (ex utilities) are are ~$1,200/month. a parking space in the basement garage is $715/month, that's why doesn't own a car but rents when he needs one.

anyway, neither Bangkok nor Manhattan nor downtown Tokyo nor Mumbai, India (which is much more expensive than Manhattan) is representative in order to make comparisons.