Researching On Property In Thailand

[xm911e3]

Hi guys, I need some help regarding my research on Thailand, Bangkok properties. Is there any website that shows the historical transacted price?

I'm asking this because I believed it'll help me guage if this piece of property in this area is overprice, average or below market price.

Thanks in advance.

Edited March 6, 2010 by xm911e3

[ExpatJ]

I wish i had that info to! But i am confident to say that prices have been increasing i.e. in any given area of bkk the prices now will be the highest they have ever been. The thai property market is very strong price wise- while the US/UK property dropped in value hugely in the last 2 years, if you were a property owner in bkk your value remained the same, if not increased.

[xm911e3]

Umm... how can we judge if this piece of property in this area is overpriced, average or below market price without using gut feel?

[123ace]

You have to either research it yourself, or pay for a third party report.

There are multiple markets in this country and accurate reseach is not made availble free. What location are you interested in and what property type?

[xm911e3]

You have to either research it yourself, or pay for a third party report.

There are multiple markets in this country and accurate reseach is not made availble free. What location are you interested in and what property type?

I'm looking for studio condo in Bangkok - Ratchada area.

[123ace]

You have to either research it yourself, or pay for a third party report.

There are multiple markets in this country and accurate reseach is not made availble free. What location are you interested in and what property type?

I'm looking for studio condo in Bangkok - Ratchada area.

Prices flat (but no decline etc), new supply virtually unlimted and the area remains in the local developer target zone (short / mid & long term), therefore long term outlook is poor as locals do not like to buy second hand (5 years plus), not necessarily a depreciating asset, but I would not expect to see large capital gain growth as new supply is always going to be there and the target market prefers to buy new.

Good market for renting but the yield not that great as rents are low - but at least there is demand. Good for BTS in general.

No need to track values over the last 5 - 10 years, it will not show a significant trend.

[chiangmaibruce]

I looked into this issue when putting together my book "Your Investment Guide to Thailand". When I started out researching the topic, it looked like there were virtually no significant sources of property info in Thailand to enable serious research. I was wrong, and eventually I managed to fill about six pages in the book with a listing of different sources (more info at www.burning-bison.com)

At the same time, it's certainly not the same situation as in a western country (with my experience being in Australia), in terms of info being accessible, accurate/reliable, up to date and covering the full spectrum of property. But there is a fair bit out there if you have time to dig it out and review it ... ideally with the help of someone with Thai language skills.

[123ace]

Beware of paralysis from analysis...

[trogers]

Umm... how can we judge if this piece of property in this area is overpriced, average or below market price without using gut feel?

There are 2 rulers for measurement - the greater fool rule or the gross yield rule.

Gross yield is [monthly rental rate of that location/development x (12 months less half the no. of months left vacant between tenants)] divided by selling price.

When gross yield rule gives poor results, you can use the greater fool rule - selling price plus 25% and sell it off a year and a half later...

[lannarebirth]

Umm... how can we judge if this piece of property in this area is overpriced, average or below market price without using gut feel?

What I did was look at a few hundred properties before I bought the first one. In that way you create your own valuation system.

[trogers]

Umm... how can we judge if this piece of property in this area is overpriced, average or below market price without using gut feel?

What I did was look at a few hundred properties before I bought the first one. In that way you create your own valuation system.

I had seen only 3 properties before making decision to buy my first condo unit in mid 2008...

[lannarebirth]

Umm... how can we judge if this piece of property in this area is overpriced, average or below market price without using gut feel?

What I did was look at a few hundred properties before I bought the first one. In that way you create your own valuation system.

I had seen only 3 properties before making decision to buy my first condo unit in mid 2008...

Well, I've never owned a condo, but I guess comparisons are easier amongst similar units in similar neighborhoods. What I found was alot of outliers regarding prices asked and realized for land. Also the excercise allowed me to set up a pretty good network of contacts.

Edited March 8, 2010 by lannarebirth

[manjara]

prakard is probably your best bet for this.

[Macnick]

Try to get hold of Raimon Lands 'Condominum Focus'

It is a report of all sales and prices of Thai condos since 2005

[trogers]

prakard is probably your best bet for this.

Beg to differ. Too much froth being blown about at that website - among speculators and flippers...

[rgs2001uk]

prakard is probably your best bet for this.

Beg to differ. Too much froth being blown about at that website - among speculators and flippers...

Trogers, concur.

Try this link, helps if you can read Thai, couldnt find any info for Ratchada, closest I could find was Huay Kwang.

http://www3.thailisting.com/default.aspx?a...mp;l=en&p=0

[quiksilva]

Try to get hold of Raimon Lands 'Condominum Focus'

It is a report of all sales and prices of Thai condos since 2005

Thats fine but you must read it knowing that this research is produced by a developer and thus will have an inherent bias. Better to get hold of a research paper produced by independent real estate consultants, and better still read all of them. They are usually available for download from the main players' websites, and whilst you may have to register you don't usually need to pay for these general overviews.

Edited March 9, 2010 by quiksilva