Shop House Prices

[KRS1]

Does anyone have a clue how much shophouses are going for on Ratchadamnoen road where the weekly bazarre is held?

[gotlost]

On Loi Khro 4 years back they were selling for 8 million. So on Rats I Dont think you could touch one for under that.

[WinnieTheKhwai]

While some people are asking 8, I think that is just too high. You can probably also find them for 3-6.

But even that is high when you can rent them for 15-20K. If this is for a business then it would be nuts to invest that much when you can just have a convenient 20K on the monthly balance sheet.

[Loaded]

We were offered a unit from the new development of town houses along Ratchdamnoen road by the owner of the land who developed them for 7 million a unit before they were built. Opposite the entrance to Wat Chedi Luang just off Ratchdamnoen is an old music school for sale. The owner wants 21 million and I think it's 3 shop-house units.

WTK

If you find a unit along Ratchdamnoen road for 3 - 6 million, let me know because it's a bargain.

Edited February 24, 2011 by Loaded

[KRS1]

Thanks for those replies, how about Ratpakinai road between Ratchvithi and Ratchdamnoen?

[Ricardo]

While some people are asking 8, I think that is just too high. You can probably also find them for 3-6.

But even that is high when you can rent them for 15-20K. If this is for a business then it would be nuts to invest that much when you can just have a convenient 20K on the monthly balance sheet.

WtK's logic is faultless, but the monthly-rental charge would properly appear on the Profit-and-Loss statement, not the Balance-Sheet.

I know, I must get out more, I'll just get my sun-hat & smog-mask !

[WinnieTheKhwai]

Thanks for those replies, how about Ratpakinai road between Ratchvithi and Ratchdamnoen?

I think it's all pretty similar, though in theory, Ratchadamnoen should be a little higher due to the walking street market which gets a lot of traffic.

[gotlost]

Thanks for those replies, how about Ratpakinai road between Ratchvithi and Ratchdamnoen?

I think it's all pretty similar, though in theory, Ratchadamnoen should be a little higher due to the walking street market which gets a lot of traffic.

I have just took a look at a few realtor web sites and I'm guessing to say in the Ratchadamnoen area 8 million and above.

[Greenside]

Thanks for those replies, how about Ratpakinai road between Ratchvithi and Ratchdamnoen?

I think it's all pretty similar, though in theory, Ratchadamnoen should be a little higher due to the walking street market which gets a lot of traffic.

I'm not sure if that really works in practice. Many of the shop fronts are virtually inaccessible when the Walking Street market is running (plus a couple of hours before) and the crush is such that one is pretty much swept along with the tide, especially if you're in a group. Well placed coffee shops and restaurants may be an exception since you can sit and people watch, but even then it's more interesting to eat at one of the Wats.

If I'm looking round a market like that (the Night Market in Luang Prabang, for example) I almost never stop at the shops on the basis that they are likely to be more expensive and anyway they'll still be there tomorrow.

It would be interesting to hear from someone with direct experience whether Sunday is a good trading day in that area.

[KRS1]

We were offered a unit from the new development of town houses along Ratchdamnoen road by the owner of the land who developed them for 7 million a unit before they were built. Opposite the entrance to Wat Chedi Luang just off Ratchdamnoen is an old music school for sale. The owner wants 21 million and I think it's 3 shop-house units.

WTK

If you find a unit along Ratchdamnoen road for 3 - 6 million, let me know because it's a bargain.

I wonder how much raw land prices are on Ratchadamnoen, because the actual material cost to build a shop house should not exceed 500k baht per unit.

[gotlost]

We were offered a unit from the new development of town houses along Ratchdamnoen road by the owner of the land who developed them for 7 million a unit before they were built. Opposite the entrance to Wat Chedi Luang just off Ratchdamnoen is an old music school for sale. The owner wants 21 million and I think it's 3 shop-house units.

WTK

If you find a unit along Ratchdamnoen road for 3 - 6 million, let me know because it's a bargain.

I wonder how much raw land prices are on Ratchadamnoen, because the actual material cost to build a shop house should not exceed 500k baht per unit.

Give you and idea. On Soi 1 and Tha Phae Road in back of the D2 on your left is an old construction fence in front of and old abandon condo project that sets on approximately 1 rai. In 2006 this land which was owned by one family was sold for 50,000,000 thats correct 50 million baht. Bangkok Bank holds the papers on it and they are only asking 150,000,000 baht.

[KRS1]

Good god !

[WinnieTheKhwai]

We were offered a unit from the new development of town houses along Ratchdamnoen road by the owner of the land who developed them for 7 million a unit before they were built. Opposite the entrance to Wat Chedi Luang just off Ratchdamnoen is an old music school for sale. The owner wants 21 million and I think it's 3 shop-house units.

WTK

If you find a unit along Ratchdamnoen road for 3 - 6 million, let me know because it's a bargain.

I wonder how much raw land prices are on Ratchadamnoen, because the actual material cost to build a shop house should not exceed 500k baht per unit.

Give you and idea. On Soi 1 and Tha Phae Road in back of the D2 on your left is an old construction fence in front of and old abandon condo project that sets on approximately 1 rai. In 2006 this land which was owned by one family was sold for 50,000,000 thats correct 50 million baht. Bangkok Bank holds the papers on it and they are only asking 150,000,000 baht.

Well, because larger plots are there basically just waiting for something very major to get built, like a hotel or shopping center. A shophouse does not eat up a whole lot of land; 20-25 tarang wa typically. So going with the somewhat more reasonable price of 2006, that would mean a 25 tarang wa piece of land costs 2 million baht. Add a very fancy 1 million baht shophouse and you're at the previously mentioned 3 million. :/

Now, I know you're unlikely to find that price in a hurry, but any small plot of vacant land in the old city is very much worth pursuing. (Either vacant land or with some shack on it that can be removed)

[gotlost]

Just took a look at Thai Visa and Sunbelt Classified. In the mung district central found one shop house asking 5.5 million. Land raw 150 sqw @ 5.25 million, 150 sqw @ 6.5 million and 150 sqw @ 15 million.