Condo In Chiang Mai

[HowardB]

Hi folks

I'm currently in the process of looking for a condo/appartment in Chiang Mai. I have been to Chiang Mai on a few occassions as a tourist but that doesn't really give a person an incite into the areas around the city.

As with most cities across the world there are good and bad suburbs to live, despite the overall feeling of the city being good. Can anyone share their experience of living in Chiang Mai and give me a heads up of some of the better places to buy a property, or bad places to avoid?

Also, is there any capital growth in real estate in Chiang Mai?

Please keep the feedback , good or bad, constructive as I read too many comments from posters that basically for one reason or another have nothing good whatsoever to say about Thailand. Beats me why they still go to Thailand.

Thanks in anticipation.

Howard

[Drew Aitch]

Hi Howard

A lot of new developments are springing up constantly in CM. From July to years end (2010), there are an estimated 170 new projects planned in Bangkok (not including those already built or under construction before July). And by the looks of it, Bkk has nothing on CM when when comparing construction projects per square mile.

But how old are you, and are you looking for a home or an investment? What size are you looking for and how many rooms? Do you want an older place to renovate, or a brand spanking new joint? What's your maximum budget?

Everyone has different needs and wants, but for me personally, I like to be near the city yet well away from the center (nowhere is far away in CM). If you're looking to be nearer the Doi Suthep, then I would look from the Nimmanhaemin junction to the other side Canal Road, or as near to the mountain as you can get. That way, you have the beautiful surrounding landscape with the city being just a short hop away.

I've seen some absolutely fantastically renovated condos in CM in well maintained older buildings, and when i say fantastic, i mean you walk into the rooms and go WOW!

I haven't bought myself, but I've seen quite a bit during my home hunting days, so i hope you'll get some good feedback from those who have purchased here and are happy with their investments

Good luck, and let us know how you get on mate.

Aitch

[thrilled]

I know of someone in chiang mai that sells condo's.if your interested,send me a message i'll give ya the number

[jayjay0]

Hi Howard

A lot of new developments are springing up constantly in CM. From July to years end (2010), there are an estimated 170 new projects planned in Bangkok (not including those already built or under construction before July). And by the looks of it, Bkk has nothing on CM when when comparing construction projects per square mile.

But how old are you, and are you looking for a home or an investment? What size are you looking for and how many rooms? Do you want an older place to renovate, or a brand spanking new joint? What's your maximum budget?

Everyone has different needs and wants, but for me personally, I like to be near the city yet well away from the center (nowhere is far away in CM). If you're looking to be nearer the Doi Suthep, then I would look from the Nimmanhaemin junction to the other side Canal Road, or as near to the mountain as you can get. That way, you have the beautiful surrounding landscape with the city being just a short hop away.

I've seen some absolutely fantastically renovated condos in CM in well maintained older buildings, and when i say fantastic, i mean you walk into the rooms and go WOW!

I haven't bought myself, but I've seen quite a bit during my home hunting days, so i hope you'll get some good feedback from those who have purchased here and are happy with their investments

Good luck, and let us know how you get on mate.

Aitch

Great post Drew.

I might add if buying you look into the monthly fees for upkeep and are they in fact doing it.

[latelyo]

Good place to start

[HowardB]

Thank you for your replies and advice, particularly the website that was forwarded.

The likelihood is that we will buy a condo and rent it out either to locals or to tourists from Aus, haven't decided on which yet.

Once again thanks

Howard

[Drew Aitch]

Great post Drew.

Thanks Jay Well, i am MrRoomfinder after all

Aitch

[justmaybe]

The likelihood is that we will buy a condo and rent it out either to locals or to tourists from Aus, haven't decided on which yet.

Oh God, buying as you describe (without having lived here) is a formula for disaster, though only in my opinion, of course. Come to stay in Chiang Mai for nearly every reason in the world other than to make money on some enterprise or another, especially involving real estate. This is not intended as a negative comment re: Thailand or thai life. There are lovely condos to be had and it's a very pleasant place to be if you don't expect it to be London or LA or Sydney or almost anyplace else that people seem to want to it be after they've landed here. Rent someplace nice in a good area--- for a song comparatively and for a decade or life if you love it and hope they don't build something higher outside your window that blocks the lovely view of Doi Suthep. Lend it to friends if you like. Buying to rent.... sounds like income/work to me, and I'm broadminded compared to the people who like to interpret such things for a living.

"Also, is there any capital growth in real estate in Chiang Mai?" Sure, if you're from a Thai family with lots of property that isn't encumbered by the bank. In my experience and understanding (only) Thai people really don't much like second-hand homes and there are only so many farang to go around. I expect you'll get a couple of dozen replies from the "I've done very well speculating in real estate in Thailand" farang faction. More power to them if it's true. Lunch is on them if we meet. Caveat emptor if they want to sell you anything.

Edited September 2, 2010 by justmaybe

[Contractor]

The likelihood is that we will buy a condo and rent it out either to locals or to tourists from Aus, haven't decided on which yet.

Oh God, buying as you describe (without having lived here) is a formula for disaster, though only in my opinion, of course. Come to stay in Chiang Mai for nearly every reason in the world other than to make money on some enterprise or another, especially involving real estate. This is not intended as a negative comment re: Thailand or thai life. There are lovely condos to be had and it's a very pleasant place to be if you don't expect it to be London or LA or Sydney or almost anyplace else that people seem to want to it be after they've landed here. Rent someplace nice in a good area--- for a song comparatively and for a decade or life if you love it and hope they don't build something higher outside your window that blocks the lovely view of Doi Suthep. Lend it to friends if you like. Buying to rent.... sounds like income/work to me, and I'm broadminded compared to the people who like to interpret such things for a living.

"Also, is there any capital growth in real estate in Chiang Mai?" Sure, if you're from a Thai family with lots of property that isn't encumbered by the bank. In my experience and understanding (only) Thai people really don't much like second-hand homes and there are only so many farang to go around. I expect you'll get a couple of dozen replies from the "I've done very well speculating in real estate in Thailand" farang faction. More power to them if it's true. Lunch is on them if we meet. Caveat emptor if they want to sell you anything.

Wise words from <justmaybe>. Rent first and get some understanding of the property market here before you commit your hard-earned cash on a purchase.

Rgds

[ctrunfree]

Without wishing to hijack the thread, does anyone know much about Peak Garden condos?

[ataloss]

^^ what they advised! Due diligence, 'caveat emptor' etal.

[lingnoi1977]

Without wishing to hijack the thread, does anyone know much about Peak Garden condos?

yes, I stayed there for 6 months - what details do you need to know

You can PM me if you feel more comfortable.

[ThaiPauly]

Without wishing to hijack the thread, does anyone know much about Peak Garden condos?

I have a friend that lives there and is very happy, I've seen his place and its nice.

Having said that they still have a lot of building work (new blocks) to build so if you are going to live there you really want to get a condo that overlooks the Shangri La Hotel gardens.

[JeffreyC]

Wise words from <justmaybe>. Rent first and get some understanding of the property market here before you commit your hard-earned cash on a purchase.

Rgds

Very true. And I would like to add that a typical local rent is of such a small nominal value that it very often will not re-imburse you for the phone calls you have to make to sort out smaller or bigger issues with the administrator.

You want to rent out long-term? Fine. But you will not make use of the condo yourself.

You want to rent out short-term? Fine. But you will need a trustworthy administrator to take care of that part of the business.

Sometimes it is tempting to invest in a foreign country because you fill every lack of knowledge with hopeful imagination. But the business here is harder than anywhere in the Western world.