Bangkok Rental Market

[hansum]

Ive been looking for 2 bed places in new build developments where the apartment costs 4.5 million to buy fully furnished in mid sukhumvit

And to my amazement owners are asking 35000 to sometimes 40000 baht PCM and most will not negotiate and the ones that do will knock off a couple of thousand baht, whereas i'm not willing to go over 25k for such a place.

Now do people often pay this kind of money to rent what are not very well built apartments with no bathtub or oven, Or is it a case of the owners prefer to leave the property empty for months or even years until they find some mug?

Edited July 17, 2010 by hansum

[trogers]

Where do you mean by mid-Sukhumvit? Thonglor - Ekkamai?

Which new condo development was sold at Bt4.5m fully furnished for a 2-bedroom of around 80+ sqm?

Projects launched in 2007-8 and recently transferred were priced around Bt80-90k+/m2. The units would cost Bt6.8m up, unfurnished. And you are offering to rent them at Bt25k/m2 for a fully furnished unit?

[hansum]

Where do you mean by mid-Sukhumvit? Thonglor - Ekkamai?

Which new condo development was sold at Bt4.5m fully furnished for a 2-bedroom of around 80+ sqm?

Projects launched in 2007-8 and recently transferred were priced around Bt80-90k+/m2. The units would cost Bt6.8m up, unfurnished. And you are offering to rent them at Bt25k/m2 for a fully furnished unit?

Nope not in that area ... further up there are a few developments around soi 65 and in the upper 40s, that are 60-67m2 and they are selling for 4 - 4.5 million or less ... basically a relatively large room with flimsy partition walls a couple of cheap doors, a shower and a hob.

Im offering a fair rate of about 6.5 -7% if bought at todays advertised prices and am not trying to take the p7ss.

I used to own an agency selling offplan property in Europe and after meeting more then my fair share of these so called property investors i shouldnt be surprised theyre not taking less then the 10% such a genius investment should obviously make.

[trogers]

Where do you mean by mid-Sukhumvit? Thonglor - Ekkamai?

Which new condo development was sold at Bt4.5m fully furnished for a 2-bedroom of around 80+ sqm?

Projects launched in 2007-8 and recently transferred were priced around Bt80-90k+/m2. The units would cost Bt6.8m up, unfurnished. And you are offering to rent them at Bt25k/m2 for a fully furnished unit?

Nope not in that area ... further up there are a few developments around soi 65 and in the upper 40s, that are 60-67m2 and they are selling for 4 - 4.5 million or less ... basically a relatively large room with flimsy partition walls a couple of cheap doors, a shower and a hob.

Im offering a fair rate of about 6.5 -7% if bought at todays advertised prices and am not trying to take the p7ss.

I used to own an agency selling offplan property in Europe and after meeting more then my fair share of these so called property investors i shouldnt be surprised theyre not taking less then the 10% such a genius investment should obviously make.

Ah...those with the air-con compressor blowing sideways in a 6ft long balcony...

Better to pay Bt20k/mth at Waterford Rama 4 (near BTS Prakhanong) for a 72sqm 2-bedroom 1-bathroom, with bathtub and a proper fitted out kitchen unit. Walls between bedroom and living area are proper brickwalls.

[hansum]

Dont laugh but im scared of heights otherwise i would, i need floor 4 or below ... I looked at Waterford in Suk and they were good apartments.

Id imagine in 10 years refurbed apartments in such developments will have held their current value far better then the current batch of cardboard boxes being constructed.