Purchasing An Investment Condo In Bangkok

[dmbd]

So many mixed reviews on this (and so many replies!)

Thanks for your efforts.

I don't see this being an incredibly high risk investment as the initial outlay isn't that much.

What would say a new studio room rent for in Suk 24 / month?

[beachyman]

offering deposit purchase payable in stages relative to construction completion levels.

this is very important news to potential investors as it derisks significantly

Yeah, the two condos I invested in off plan were down payment, approx. 10% spread monthly over the building term, remaining with a cashier check at the land transfer department.

That is the only reasonable way to do it. You only have to make two transfers, one to pay the deposit and money for the building term, another right before. I made off pretty well the forex spread as well, thankfully, but that is something to consider as well.

[TheKeeNok]

So picking up a 350 000bt unit geared towards Thais would not be a smart move?

[beachyman]

So picking up a 350 000bt unit geared towards Thais would not be a smart move?

Mmm.. how would you manage it? rent it out? how old will the building be? how will you own it (regular apartments that aren't registered condos cant be held freehold)? And only for one? Not a huge sum of money but the return wont be so good and consider you will likely not get a good purchase price in the broad frame of things so resale will be very hard and possibly even a negative return if it is not a good building.

[PattayaParent]

offering deposit purchase payable in stages relative to construction completion levels.

this is very important news to potential investors as it derisks significantly

Yeah, the two condos I invested in off plan were down payment, approx. 10% spread monthly over the building term, remaining with a cashier check at the land transfer department.

That is the only reasonable way to do it. You only have to make two transfers, one to pay the deposit and money for the building term, another right before. I made off pretty well the forex spread as well, thankfully, but that is something to consider as well.

Still doesn't help you if the condo fails to be completed, especially if it fails in the later stages, like when the more costly works of finishings and MEP need to be paid.

The Thai government did introduce and escrow law which would eliminate the risks of off plan purchases, but I've yet to find a developer that will admit that it exists, never mind use it.

[TheKeeNok]

It amazes me that the price of a Camry or Accord is the sameas a new condo. 1.4 mil. Given the choice I would think that getting the condowould win out all the time.