Funckist & Popular Condos In Cmai

[jayinoz]

A fair bit seems to have changed in CMai in the last 5 years. Central shopping centre and the condos surrounding seemed to be the most popular, yet times have changed....

Now it appears to be Airport plaza and surrounding Condos. Also Nimmerarin Road seems to be a really happening places now.Also around the River near Riverside...

Has anyone looked around at most good condo complexes. If so I think many would be interested to hear of the best value for money places in the more popular areas.

Hillside 4 near central seems to have lost a lot of its appeal- as I see rentals have dropped greatly. Yet maybe it due to the economy issues. If improves may be good for investment purposes. Don't really like that many good condos charge big money to use the internal fitness centre- Hillside is one of them. I seen many advertised for only 10K bt pm- seems like a bargain for a 45 sq mtr luxury Condo. Cheaper at Hillside 3 I am told.

Riverside Condo still very popular and some great condos in there. Yet most approx. double Hillside Condos.

ANY Recommendations on best Condos and best Funky areas to live...

1) How big

2) Price

3) Funkist Areas

4) Price of condo includes what services EG. fitness centre, pool, etc.

Cheers

[Blinky Bill]

What is funckist and funkist? You have 2 strange words I've never heard of before. One in the subject and the other in the actual thread.

Edited June 23, 2010 by Blinky Bill

[martijn12345]

I think, generally, the area around CMU/Huay Kaew road is quite expensive and in some cases very overpriced. There are some nice new condos around airport plaza, which def. is the number 1 shopping mall in CM at this moment. It's also a good location cause of the highways crossing. There are some bargain prices in condos if you drive around the city and check the non-tourist locations. I've seen very nice 3-4 story buildings with nice 35-40 m2 rooms for 3500-4000 baht a month. I've even seen 90m2 for 6000 (kinda old, hardly any furniture) near the train station.

If you wanna stay here longer then 3 months, I defiantly recommend renting a motor bike and drive around. There are so many rooms available in CM. Drive up to any building you see and just walk in, ask to see a room. I've checked rooms in over 20 buildings, and only 1 building had no rooms available (Felt like they didn't want farang, or that it was a student only building which they couldn't explain in English). There are seriously OK, basic aircon rooms around for 3500-4000 baht. there are generally NICE, 40+ m2 rooms around for less 8000 baht.

[flying]

My guess is he was saying funkiest as in most funky place to live.

adjective funkier -·i·er, funkiest -·i·est

1. Dialectal smelly; musty

2. ☆ Jazz having an earthy quality or style derived from early blues or gospel music

3. of or characteristic of funk (sense )

4. Slang old-fashioned or quaint

5. Slang unconventional, eccentric, offbeat, etc.

6. Slang very emotional

7. Slang informal, relaxed, casual, etc.

[eek]

Now that we have cleared that up and an inflammatory post removed, lets stay on topic.

[ollylama]

i defiantly agree.

[WinnieTheKhwai]

Yes funky. Agree.

[jayinoz]

Yes funky. Agree.

Yes Funky is the word...

I agree their are too many Condo complexes to mention. Sure the 3-4 storey places are bargain, yet not the funkist happening places to live.

If you say you live at Riverside Condos or Hillside- people say Ohhh Woooo that is a good place. The no namers get no mention- yet you pay for the funkist places.

Hillside seems like it has gone a bit gay to me (Not that their is anything wrong with that- Seinfeld quote). Yet some places are a little too gay for me. Lol. Hope I allowed to talk like this...

I am told a few Condos around Airport Plaza is the best now- popular wise.

I seen those adverts for the 1.1 mil Condos that are tempting me- 1 bed + living room to buy off plan and ready later in the year. If Thai economy picks up they maybe a good buy and looks pretty funky to me. All the luxuries, etc.

As rental on these are going to be approx 15K bt... over 10% return is good without any growth. Naturally told most of them sold- yet that what all salemen say.

Anyone bought or renting in these developments- any good? :jap:

[Thaifan2]

>>As rental on these are going to be approx 15K bt... over 10% return is good without any growth<<

You will not get 15k a month on a 1M Condo .I have just recently received the keys to a 1.2 M ,one seperate bedroom condo ,new build in Jomtien /Pattaya .I can only hope for 12k a month and rents are higher down there .

[WinnieTheKhwai]

I've been thinking about this topic for a while for some reason, and thought I'd add in a more serious reply, specifically about the mindset displayed below:

A fair bit seems to have changed in CMai in the last 5 years. Central shopping centre and the condos surrounding seemed to be the most popular, yet times have changed....

Now it appears to be Airport plaza and surrounding Condos. Also Nimmerarin Road seems to be a really happening places now.Also around the River near Riverside...

Sometimes things boom in particular areas for reasons that are completely of no consequence to your own personal needs and wants. Nimmanhaemin Road is absolutely booming, and condo prices sky high. This is primarily because it has developed as an area for trendy nightlife, and because it's close the university. My point is, that if you're not a student or teacher at CMU, and don't hang out at Monkey Club or Starbucks several times a week, then the only personal 'benefit' a condo on Nimmanhaemin will bring you is the weekend/nightly traffic jam, and getting your car crashed into by drunk motorbike drivers at 2am. Now, you could be approaching this also not from a 'personal needs' angle but from an investment angle: In that case you're too late for the Nimmanhaemin area, because prices are *already* sky high. Investment wise you'd be looking at areas that are just beginning to develop, and then rely on making the right choice. (My best guess would be Santitham in that respect.)

Ultimately when buying property for yourself to live in, I would not over-complicate it. Look at yourself, what you like, and where YOU want to be. Don't worry about what everyone else thinks is trendy, or a nice place to live. Then wait for the rest of the world to come to agree with you, at which point it will ALSO have been a good investment financially.

If it was me, and if I was looking for condo/apartment style living (or a house even), I would look no further than the old city area. It's relatively quiet, central to everything, and there is absolutely no way that prices will go down, like they did with some of the high rises along the Canal Road. Note that this is knowing full well that high rise condos are not allowed in the old city, but there are some low rise, high end developments. Or you could get creative otherwise to get to a super place to live in that area.

Finally, you mention the Airport Plaza area; Are you sure? Where are the desirable condominiums there? As a * shopping mall* Airport Plaza is currenlty way more popular than Central, though even there I would place some footnotes. Last week I made the mistake of going to Airport Plaza on a weekend. Spent more time stuck in the parking lot than actually buying things. Yesterday I went to Central. Guess what: At Good Old Central it was easy to park, and not only that, but there was a bigger selection, and prices for the very same item at Central KSK was cheaper than Robinson (same company), AND there was more and more knowledgeable staff. It was a pleasure to shop there. So guess what, I'll be leaving Airport Plaza to the hordes of people just wanting to 'hang' in a trendy air-conditioned place, while clogging up the surrounding roads and parking lot. I'll be shopping at Central when I need something high end.

Edited June 28, 2010 by WinnieTheKhwai

[Greenside]

Good summary. I don't have much of an idea of what could be considered up-and-coming over near Airport Plaza and agree that Santitham is headed to be the next best thing to Nimmenhamen.

As far as rents go, I think there are upwards of 600 newly completed rooms coming on the rental market in the Huay Kaew Rd area between Nimmenhamen and including the Canal Road junction over the next six months and that's in addition to the Trio Building which still seems largely unsold/unlet . The developers are putting in decent facilities and I only see this producing downward pressure on rents outside the very peak of high season (assuming there is one this year).

Airport Plaza parking is a bitch and the new wing they're building will fill up in the blink of an eye.

[jayinoz]

Good summary. I don't have much of an idea of what could be considered up-and-coming over near Airport Plaza and agree that Santitham is headed to be the next best thing to Nimmenhamen.

As far as rents go, I think there are upwards of 600 newly completed rooms coming on the rental market in the Huay Kaew Rd area between Nimmenhamen and including the Canal Road junction over the next six months and that's in addition to the Trio Building which still seems largely unsold/unlet . The developers are putting in decent facilities and I only see this producing downward pressure on rents outside the very peak of high season (assuming there is one this year).

Airport Plaza parking is a bitch and the new wing they're building will fill up in the blink of an eye.

Santitham is fairly close to Huay Kaew Rd... I am told the most popular Condos there is at Santitham Mansion 3.... approx 1 mil bt for 50 sq or rent 10K bt pm rent??? Many low rise Condos, may not meet the criteria for Farangs to own....

[jayinoz]

Everyone has a wants and needs check list to tick off......

I agree that Air port plaza area seems over rated to me. Coming back to CMai after a few years I still prefer the Huey Gow area, even along the main road there appears many bargains now. Glad i did not hold a couple of Condos for investment reasons however, as there has been zero growth since 2006. Nima Rd would have been a good investment- I think Huey Gow is worth a look again- due to zero growth. It must grow again at some stage as it has most of what young and middle age could want OR young at heart.

Fitness centres, shopping, near cmu, libraries, near Chang Puak for bargains- ideal. Not for everyone I guess... Yet met many who could not imagine of living anywhere else.

[CobraSnakeNecktie]

Might want to check out the projects going up near the new convention center. Could be lot of supply in the future however. About 4 complexes now and I imagine a number more in the planning stage.

Has anyone looked at zoning, master planning there to access future projects?

Touch Hill Place, Baan Suan Grenery Hill, and I forget the others.

The returns seem extremely mediocre after deducting various liabilities such as

condo fee's

insurance

tax liabilities

periodic vacancy between tenants

contingencies like bad tenant, upkeep and furnishing etc

agent, mgmt and closing fees. Even if one self manages a persons time has value.

opportunity costs of locking up capital in a relatively illiquid asset

I have sliced a lot of these places up and I can do better in a month or so in forex or futures as a year of many of these places.

[jayinoz]

Might want to check out the projects going up near the new convention center. Could be lot of supply in the future however. About 4 complexes now and I imagine a number more in the planning stage.

Has anyone looked at zoning, master planning there to access future projects?

Touch Hill Place, Baan Suan Grenery Hill, and I forget the others.

The returns seem extremely mediocre after deducting various liabilities such as

condo fee's

insurance

tax liabilities

periodic vacancy between tenants

contingencies like bad tenant, upkeep and furnishing etc

agent, mgmt and closing fees. Even if one self manages a persons time has value.

opportunity costs of locking up capital in a relatively illiquid asset

I have sliced a lot of these places up and I can do better in a month or so in forex or futures as a year of many of these places.

Well u must be doing well at gambling on the forex for the moment... lest us not forget that if you have enough bucks that a bricks and mortar investment should be apart of any portfolio. Gambling income such as forex, options, etc should only be as much as you can lose. Difference is the property will always be there- yet anywhere near 10% in property in CMai is very rare now.

Illiquid depends on how good you are at marketing and the price you have on the property.... Chok Dee

[CobraSnakeNecktie]

investments of all stripes have risks to be calculated and managed. The more risk an investor undertakes then there should be comparable returns. I would not classify Forex or trading as gambling because I don't have losing months in years. It does take skill however and not recommending others to embark on it without extensive practice and demo trading. It's easy to lose money for a novice. I traded Demo for nearly 3 years.

Even still ETF's and AAA/AA rated bonds can produce solid gains with little moving parts or attention.

I would be interested to see some real estate CM investors some spread sheets.

Anyone check out the zoning near the convention center? I am not against owning a condo as a primry residence but have major reservations as investment vehicles.

Edited July 8, 2010 by CobraSnakeNecktie