Condo Grades

[RAZZELL]

Who exactly defines a condo as "A" Grade, "B" Grade etc?

What is the difference?

Is there a list for Bangkok? Or what would people consider to be examples of "A" and "B" Grade Condos in Bkk... and "C"

RAZZ

[aussiebebe]

That's a good question, I'm unsure exactly who or what defines the grade of a condo, but the price per square meter is a good indication. If you look at this article written in April last year about the Bangkok market, Grade A averaged at 110,000/sqm, Grade C 40,000/sqm and below with B somewhere between.

The differences between units is readily apparent in the fixtures, fittings and design; my condo is definitely Grade C (more accurately grade F!) with cheap aluminium-framed windows, cheap laminated flooring, all the doors are flimsy and it came with just only a fitted kitchen from Index. A Grade A unit of the same size would cost triple or quadruple the price and probably come with triple-glazing, real wood flooring, all fitted furniture, and ceiling or cassette-type air conditioners. Probably more I don't know about. Location factors in of course, but high-end units are likely built in desirable locations anyway.

[beachyman]

I think “Grades” are like hotels that rate themselves... I have been to 5 star hotels in Cyprus but they were by no means 5 star hotels compared to the global arena.

In my experience, you can usually tell the quality of the final product by looking at the 1) the developer, 2) their previous developments (houses, condos) and 3) if they are an independent company or publicly traded.

In the fine print on the glossy handouts you can do some due diligence with Google, looking up the company in question. Look for resales to see what the asking price is now. Check out some older buildings and see what they did in the past and what company they are managed with and what they look like now.

If you cannot find anything on Google, try having a friend look for Thai forums like prakard and see what Thais are saying. Independent companies often finance through unit sales to pay back bank financing so they are more likely to skimp on the quality.

[trajan]

CBRE classifies Bangkok Condo units into six categories based on price/m2:

1. Super Luxury Above THB 180,000/m2

2. Luxury THB 130,000-THB179,999/m2

3. High End THB 100,000-129,999/m2

4. Upper-mid-range THB 80,000-THB 99,999/m2

5. Mid-range THB 60,000-79,000/m2

6. Entry-level Below THB 60,000/m2

Examples of Super Luxury ones in Bangkok would be:

The Sukhothai Residences (Sathorn),

The Ritz-Carlton Residences (Sathorn-Chong Nonsi),

The St Regis Residences (Rajadamri),

185 Rajadamri (Rajadamri),

Banyan Tree Residences (Sathorn),

The River (Riverside)

Ralph Lauren Residences (Wireless) (soon to be launched)

Oriental Residences (Wireless)

Edited February 3, 2012 by trajan