Very Cheap Condos In Cm.

[thomo]

Wouldn't mind getting a little box up in CM for when I go to visit. Plus to start off my Thai property empire.

Quite a few well done little places is the 600k-1m price bracket.

But what about really cheap. 10,000euro is just over 400,000b so what does that get you in CM?

Well for 255,000 you can get this:

bahtsold.com/detail.php?id=30902

Cheap huh. Only 5 months salary for a TEFLer on 50 odd k p/m.

Barely enough room to swing a cat, maybe a pussy from Spicy though, perhaps. Plus you'd have your own place, owned, by you.

So how cheap are places in CM. Is this an oddity? or is it easy to find such cheap condos there?

Anyone got anymore, site with these sorts of deals on them? I'm interested.

BTW, put this in the CM forum as it would be swallowed up in the real estate one.

[thomo]

Another one right here on TV.

300k. Looks nice and new, with a bath.

http://classifieds.thaivisa.com/real-estate/houses-for-sale/no-1451-sale-fully-furnished-condo-in-saraphi-chaing-mai-300-000-baht-67910.html

[gotlost]

On the Doi Saket Highway the 118 and the 121 (second rang road) on your right hand side as you cross over the 121 there are four kind of white condos about 12 story tall and just pass them a gray unfinished unit that looks as if it was burnt.. The white units are being solid for 350,000 baht each. A friend bought two.

[cmsally]

That sounds like Orchid Place - only 150k here

Orchid Place condo

The banks always have heaps of foreclosures at SR Condo (btw railway station and Super Highway junction). If I remember rightly around 200k

[gotlost]

That sounds like Orchid Place - only 150k here

Orchid Place condo

That's it. Price I quoted was last year. Guess they couldn't move them so now they are giving them away. Good deal. Remember there is a very good real estate market in Chiang Mai at the moment. 150,000 big ones.

[thomo]

Jeepers! 150,000b

A friend bought two.

What has he done with them? Easy to rent?

[gotlost]

Jeepers! 150,000b

A friend bought two.

What has he done with them? Easy to rent?

Actually he bought three. Two next to each other and one above. Has remodeled and connected the bottom two into one with access to the unit above.

[thomo]

Clever.

With the price for three now at 450,000b you get an alright condo for your 1/2mill.

[gotlost]

Clever.

With the price for three now at 450,000b you get an alright condo for your 1/2mill.

Question. I'm under the impression that these units are government owned and part of the the deal is no chanote for 5 years? Could be why the drop in price again from 350 to 150.

[thomo]

No idea mate. You're the one telling us about them.

[gotlost]

No idea mate. You're the one telling us about them.

No this site is.

http://www.pantipmarket.com/items/8406764

At that price I sure would be looking for the all the covered over rust spots and asking some serious questions.

[thomo]

I thought your mate bought 3?

[jayjay0]

Well there is no two ways about it they are cheap. The question i what do you do with them. Can they be resold or rented out. Or do you want to live the rest of your life in a shoe box.

Also what are the condo fee's. Are they doing the maintenance or just letting them go.

[CheGuava]

It look like a jail I think.

Even at price like that why would you pay 250.000 bahts when you can rent a better room downtown for around 3000 bahts.

That is a lot of money for beer and ladies you are throwing over the balcony.

[CMgossip]

At this price they are not what I would call condos - they are just rooms. Call it what it is!

[ThaiPauly]

That sounds like Orchid Place - only 150k here

Orchid Place condo

That's it. Price I quoted was last year. Guess they couldn't move them so now they are giving them away. Good deal. Remember there is a very good real estate market in Chiang Mai at the moment. 150,000 big ones.

Looking at the pictures of the rooms, they remind me of a prison cell

[personchester]

Another one right here on TV.

300k. Looks nice and new, with a bath.

http://classifieds.t...baht-67910.html

With a bath ?. are you sure?. gosh that is real luxury, people will be queueing up in order to buy it ...

[thomo]

To be fair, I think anybody can make any room/condo/house nice with a lick of paint, new tiles, nice furniture etc etc. I don't think many people buy a property and then don't do anything to it.

I agree though, I don't think I could live happily in any of those for any length of time.

Even at price like that why would you pay 250.000 bahts when you can rent a better room downtown for around 3000 bahts.

Well taking out the two figures, it would mainly be about dead money. After 5 years of renting a place for 5k you've spent what, 300,000. Gone for ever with nothing to show for it. If you buy a small place for say 500,000. It won't be as nice but at the end of the 5 years you have a 500,000 asset. Even if you can rent it once you've bought it for say 3k and rent your place at say 5k, your rent is down to 2k and you still have a 500,000 asset.

[thomo]

Plus, just talking about myself, if youre just going to be a blow-in for a few years, it probably isn't worth the hassle, but if you've been here a while, are starting to settle down, and have 40+ years of life here ahead of you, it's probably good to get some future collateral.

For example I'll probably be getting married to my GF of 4 years next year. Transfering a 500,000b condo to her name then using it for a mortgage for say 1.5m, at 20 yrs is <7k p/m, will see ye in a nice-ish house, with a rented condo helping to pay the repayments, and by the time both of us would be in our late 40s we have 2 million baht's worth of property paid off. Care to do the same for another 20 years and you've done alright off a 500,000 box.

As said, probably not for blow-ins though.

[gotlost]

I thought your mate bought 3?

He did even thought there was no chanote transfer. I'm saying at this price there is a problem and buyer be ware.

[Thighlander]

ChiangRai Condotel 450,000.

[thomo]

linky?

Although I notice there's an 'R' instead of an 'M'.

[Thighlander]

Yes, it is in Chiang Rai. And it is the only condo there. Great views. Prices are just way too low in Parts of America right now. I can get a 450 sf swimming pool for about 40,000 US, and it comes with a 3 bedroom house on 8000 sf of land in Phoenix. I bought a condo there last year for 22,000 that is a townhouse, and also bought a condo in a Howard Hughes' planned community for 35,400 that I sold to some Canadiens for 55,000, 8 months later.