Calculating Cost Per Square Metre

[negreanu]

When you are calculating the cost of buying a condo per square metre (Not new condo).

For example lets say liveable area is 300sqm and balcony is 170sqm. Surely the 170sqm is calculated at a lesser cost per sqm as it is not walled? No idea just interested or is it at the same rate Of around 55,000THB psqm as a building average? (For units with no balconies)

Edited June 14, 2010 by negreanu

[trogers]

Selling price of 2nd hand condo units is usually first calculated from Bt/m2 of total area as shown on the title deed, thus including the balcony. Then a total sum is establish and some percentage discount may be agreed upon on this total sum.

New developments are sold on this basis, though projects with majority of units having large balconies may be pricing them at a lower Bt/m2 due to slightly cheaper construction costs.

Add:

When I acquire 2nd hand condos, my deciding purchase price is the the value of a newly renovated unit (to a suitable finish class) in that particular location less the cost of renovation.

I have acquired units needing just minimal renovation and a couple that needed total removal of walls, doors, windows, bathrooms, kitchen, ceiling, floor finishes and M&E system.

Edited June 14, 2010 by trogers

[negreanu]

Thanks for the info. Pricey Balcony when into the 55,000thb-60,000thb per square metre range with a balcony this size.

Was thinking of offering current condo value of 55,000thb per sqm for internal (going condo rate on average less a little bit) and 40,000thb per sqm on the balcony.

Food for thought.

Edited June 14, 2010 by negreanu