RAZZELL Posted August 17, 2012 Share Posted August 17, 2012 I think I read that it was designed as office space and converted? Great views. Would love to see what The River is like....apart from expensive. But then again not too sure about the riverside location. RAZZ Link to comment Share on other sites More sharing options...
trogers Posted August 18, 2012 Share Posted August 18, 2012 I think I read that it was designed as office space and converted? No. This building has been designed as a condo right from the start, and not even as a hotel. The balconies indicate the intend as such. The hotel part was a conversion to sell off part of the building. In the 80's local designers have no first hand experience living in condos, thus, their designs follow those of dormitories which they would have resided in during their undergrad days. Have a look at Trendy with a similar layout. Only diff is the interior finishes. Copying a western concept of an open atrium without much thought was a big boo boo. Such an atrium in Bangkok would have required air-conditioning the space (due to trapped heat and lack of cross ventilation) and the use of sound absorbing materials to reduce echos and reverbrations. Link to comment Share on other sites More sharing options...
RAZZELL Posted August 20, 2012 Share Posted August 20, 2012 Now I'm sure the "Trendy" Was designed as office space Used to drink in Bush Garden in Ruamchitt Plaza hotel... Watched the "Trendy" and the new hotel being built...only took them about 6 years! RAZZ Link to comment Share on other sites More sharing options...
ezythai Posted August 20, 2012 Share Posted August 20, 2012 I have 4 condos on the BTS and MRT lines invested 11 M, returns 80 000 per month, not good returns but I'm sure being located right on the stations should provide a better capital growth. If you can wait aim for capital growth. Link to comment Share on other sites More sharing options...
ExpatJ Posted August 20, 2012 Share Posted August 20, 2012 Ezythai. Your returns are outstanding. 80,000 per month comes to @8% return on your investment per year!! I have been looking for condos next to bts for 3 years but have never found any with more than 6% per year return! Which condos did you buy by the bts? Link to comment Share on other sites More sharing options...
trogers Posted August 20, 2012 Share Posted August 20, 2012 I have 4 condos on the BTS and MRT lines invested 11 M, returns 80 000 per month, not good returns but I'm sure being located right on the stations should provide a better capital growth. If you can wait aim for capital growth. That's almost 9% pa gross rental yield, which is pretty good in view of oversupply of rental space in the market. But what basis do you expect better capital growth? Demand greater than supply in the future? Link to comment Share on other sites More sharing options...
ezythai Posted August 20, 2012 Share Posted August 20, 2012 Hmm, I won't list all properties but, there is a building in ladphrao right now being refurbished, 200 units. Chinese owner, is selling the first lot cheaply, I got one 100 sqm for 3 mill, rents out 20 000. There are deals out there, leg work is required. Don't work out the returns on the listed price, and offer well under the listed price, throw the spaghetti and some will stick. Link to comment Share on other sites More sharing options...
ezythai Posted August 20, 2012 Share Posted August 20, 2012 I base the capital growth on the worsening congestion, Thai economy is doing ok, there are plenty of educated Thais on good income wanting to get to work quickly. Link to comment Share on other sites More sharing options...
ezythai Posted August 20, 2012 Share Posted August 20, 2012 In the same building, there are rooms selling for 1mill renting for 7500 Link to comment Share on other sites More sharing options...
ezythai Posted August 20, 2012 Share Posted August 20, 2012 Another hint phra khanong Link to comment Share on other sites More sharing options...
trogers Posted August 20, 2012 Share Posted August 20, 2012 Hmm, I won't list all properties but, there is a building in ladphrao right now being refurbished, 200 units. Chinese owner, is selling the first lot cheaply, I got one 100 sqm for 3 mill, rents out 20 000. There are deals out there, leg work is required. Sounds like there is a single owner of one whole building. Are you buying a freehold condo unit, or are you buying an apartment unit on leasehold? The latter will not have capital growth. Link to comment Share on other sites More sharing options...
ezythai Posted August 21, 2012 Share Posted August 21, 2012 (edited) Freehold, message me if you need to know more. Cheers Edited August 21, 2012 by ezythai Link to comment Share on other sites More sharing options...
hyperdimension Posted September 20, 2012 Share Posted September 20, 2012 (edited) Stop wasting time looking at realestate websites!! Why are real estate web sites a waste of time? Is it because currently they are used mostly by farangs? That may be changing though as more Thais get internet access. What do most Thais currently use to look for a property to buy or rent... newspapers? I think real estate web sites can save a lot of time and can be a good source (but not the only source) for market research. What are some good real estate web sites for Bangkok? Edited September 20, 2012 by hyperdimension Link to comment Share on other sites More sharing options...
hyperdimension Posted September 20, 2012 Share Posted September 20, 2012 Around the BTS On-nut area, they are building two new condos, maybe 100 meters from the BTS station, and the same distance from Lotus. great location imho. There is another one already finished right behind the BTS station. Same in the Prakanong station, there are three new condos (one large, two small ones) being constructed about a minute walk from the BTS station. They are terrible locations. Who would want to live in a dump like that. Also, there is far more supply than demand. Plenty of empty condos that can't be rented. That is nothing but "your opinion" and when looking for a rental market your own personal opinions dont count. I did very well in On Nut for over 6 years with small studio units. I am taking about the situation now with all the new condos being built and the massive oversupply. The area itself is also pretty grim. Yes, it's only my opinion and I'm not claiming it's anyone else's. But from my experience of property investment, these sorts of condos in these sorts of areas are the ones where the novice investors pile in and get unstuck. It is also a fact that there are countless condos for rent that can't be rented. So how well are those owners doing? Yes, my opinion and you can ignore it if you want. Is there a chance that On Nut may not remain as such a "dump" 5 to 10 years from now? If there is extreme oversupply, why haven't market forces caused large drops in prices? Or is it soon to come? Link to comment Share on other sites More sharing options...
trogers Posted September 20, 2012 Share Posted September 20, 2012 Is there a chance that On Nut may not remain as such a "dump" 5 to 10 years from now? If there is extreme oversupply, why haven't market forces caused large drops in prices? Or is it soon to come? More like 15 years or two property cycles. Growth in real estate is tied to economic growth and more equitable distribution of wealth. Large drop in prices follows a bubble burst. A bubble has already developed. Look for the signs of heavy advertisements of completed projects with still a large inventory of unsold and resales units. Then the next wave of development will be NPLs and confirm the bursting of the bubble. I estimate prices will start falling in early 2015, the pin being financial woes in Europe and the US. Link to comment Share on other sites More sharing options...
Khun Jean Posted September 20, 2012 Share Posted September 20, 2012 (edited) What are some good real estate web sites for Bangkok? For investing in Condo's as that is the topic......None. Edited September 20, 2012 by Khun Jean 1 Link to comment Share on other sites More sharing options...
cheeryble Posted September 20, 2012 Share Posted September 20, 2012 (edited) What are some good real estate web sites for Bangkok? For investing in Condo's as that is the topic......None. Correct. By the time it gets to an estate agent's eyes.......it's too late. Edited September 20, 2012 by cheeryble Link to comment Share on other sites More sharing options...
rgs2001uk Posted September 20, 2012 Share Posted September 20, 2012 Stop wasting time looking at realestate websites!! Why are real estate web sites a waste of time? Is it because currently they are used mostly by farangs? That may be changing though as more Thais get internet access. What do most Thais currently use to look for a property to buy or rent... newspapers? I think real estate web sites can save a lot of time and can be a good source (but not the only source) for market research. What are some good real estate web sites for Bangkok? To answer your questions, 1. Why are real estate web sites a waste of time? Is it because currently they are used mostly by farangs? Because of the prices they are advertising properties for based on the commissions they operate on, many of the rental prices bear no resmblance to what locals actually are paying. 2. What do most Thais currently use to look for a property to buy or rent. Word of mouth, family friends or work colleagues. 3. What are some good real estate web sites for Bangkok? Depends on the type of property you are seeking, shoe leather seems to be the best bet coupled with the ability to read Thai. Go into any 7/11there are property mags on the shelves for about 40 baht. DD property is a good enough place to start to get a feel for local prices. I will offer no comment on Prakard, those who know what I am talking about will understand. 1 Link to comment Share on other sites More sharing options...
RAZZELL Posted September 20, 2012 Share Posted September 20, 2012 Real Estate Websites are a only for research. I once emailed one about some land...miraculously it went up in price by 500,000 baht a week later RAZZ Link to comment Share on other sites More sharing options...
hyperdimension Posted September 20, 2012 Share Posted September 20, 2012 (edited) Real Estate Websites are a only for research. I once emailed one about some land...miraculously it went up in price by 500,000 baht a week later But that can happen whether or not you use a web site. It's not much different to us as a buyer showing interest and asking many questions only to later make an offer that is extremely lower than the advertised price. Edited September 20, 2012 by hyperdimension Link to comment Share on other sites More sharing options...
hyperdimension Posted September 20, 2012 Share Posted September 20, 2012 Because of the prices they are advertising properties for based on the commissions they operate on, many of the rental prices bear no resmblance to what locals actually are paying. Which web sites are you referring to in particular? Word of mouth, family friends or work colleagues. These old-fashioned ways are not so reliable. Gradually more Thais will use the internet, and real estate web sites will become a more reliable and convenient marketplace and research source. Link to comment Share on other sites More sharing options...
Khun Jean Posted September 20, 2012 Share Posted September 20, 2012 (edited) Because of the prices they are advertising properties for based on the commissions they operate on, many of the rental prices bear no resmblance to what locals actually are paying. Which web sites are you referring to in particular? Word of mouth, family friends or work colleagues. These old-fashioned ways are not so reliable. Gradually more Thais will use the internet, and real estate web sites will become a more reliable and convenient marketplace and research source. That will take another generation. Kids use internet, problem is they don't own anything, their parents and grandparents do. Word of mouth is terrible as it is often inaccurate, wastes a lot of time, but in the end the only way to find out what realestate in areas are worth. Recent sales are a good indicator too, unless it is to a foreigner, then you can bet he paid over the top. Edited September 20, 2012 by Khun Jean Link to comment Share on other sites More sharing options...
channarong80 Posted October 3, 2012 Share Posted October 3, 2012 In my opinion investing in condos with the purpose of renting them is a good business, maybe the only good business in Thailand. But nobody say how to do it in legal way. A farang can not have an income in Thailand without making a thai company, so can not have an income by investing in condos without making a company. So how to do it? Can someone give a good answer? Thank you in advance Link to comment Share on other sites More sharing options...
Khun Jean Posted October 3, 2012 Share Posted October 3, 2012 In my opinion investing in condos with the purpose of renting them is a good business, maybe the only good business in Thailand. But nobody say how to do it in legal way. A farang can not have an income in Thailand without making a thai company, so can not have an income by investing in condos without making a company. So how to do it? Can someone give a good answer? Thank you in advance So, start a company. Link to comment Share on other sites More sharing options...
admiraldy Posted October 3, 2012 Share Posted October 3, 2012 In my opinion investing in condos with the purpose of renting them is a good business, maybe the only good business in Thailand. But nobody say how to do it in legal way. A farang can not have an income in Thailand without making a thai company, so can not have an income by investing in condos without making a company. So how to do it? Can someone give a good answer? Thank you in advance i dont think that renting a condo is categorized as having an income without a work permit , it is more like a return on investment which i think is legal as long as you pay tax on your rent income yearly , either you are on a tourist visa or retirement visa or investment visa , i believe many members here rent their condos and can give a more accurate answer Link to comment Share on other sites More sharing options...
mania Posted October 6, 2012 Share Posted October 6, 2012 (edited) I asked this in the Visa forum but did not get a reply. Perhaps someone here can answer? When you own a condo in a foreigners name & it is part of the foreigner allowed quota of that building, Do you get a Blue Book/Tabien Baan in your name? Does this qualify same as a Yellow book for proof of address required for foreigners to buy/sell cars & bikes? Thanks Edited October 6, 2012 by mania Link to comment Share on other sites More sharing options...
trogers Posted October 6, 2012 Share Posted October 6, 2012 I asked this in the Visa forum but did not get a reply. Perhaps someone here can answer? When you own a condo in a foreigners name & it is part of the foreigner allowed quota of that building, Do you get a Blue Book/Tabien Baan in your name? Does this qualify same as a Yellow book for proof of address required for foreigners to buy/sell cars & bikes? Thanks Yes. A foreigner can use the blue book as proof for place of residence. And a foreigner who does not own a condo but is only renting can use the lease agreement as proof for place of residence to do the same. 1 Link to comment Share on other sites More sharing options...
mania Posted October 6, 2012 Share Posted October 6, 2012 (edited) I asked this in the Visa forum but did not get a reply. Perhaps someone here can answer? When you own a condo in a foreigners name & it is part of the foreigner allowed quota of that building, Do you get a Blue Book/Tabien Baan in your name? Does this qualify same as a Yellow book for proof of address required for foreigners to buy/sell cars & bikes? Thanks Yes. A foreigner can use the blue book as proof for place of residence. And a foreigner who does not own a condo but is only renting can use the lease agreement as proof for place of residence to do the same. Thanks Trodgers So once you own a condo in your own name you no longer need to go get that address paper to buy or sell vehicles correct? In our case we have a condo now but in my wifes name as it was always under the Thai quota for this building so I cannot add my name to it. I have been thinking of buying more condos to use as rentals & will of course try for condos that are in the Falang quota of each building. I was hoping when i do I will not need to get these papers anymore when buying or selling vehicles. I know I can get a yellow book too if I want to deal with it. Edited October 6, 2012 by mania Link to comment Share on other sites More sharing options...
channarong80 Posted October 7, 2012 Share Posted October 7, 2012 In my opinion investing in condos with the purpose of renting them is a good business, maybe the only good business in Thailand. But nobody say how to do it in legal way. A farang can not have an income in Thailand without making a thai company, so can not have an income by investing in condos without making a company. So how to do it? Can someone give a good answer? Thank you in advance So, start a company. Which kind of company to do this business? How many quota I must have in this company? How many thai people I need to do this company? Someone says no more than 49%, someone suggests no more than 35%, someone says thai company needs just one managing director, someone suggests that Thai company needs two managing director to do this business, one thai and one farang. But as you can see in this topic nobody will answer to this questions because nobody in thailand rent own condos in the legal way. Link to comment Share on other sites More sharing options...
channarong80 Posted October 7, 2012 Share Posted October 7, 2012 In my opinion investing in condos with the purpose of renting them is a good business, maybe the only good business in Thailand. But nobody say how to do it in legal way. A farang can not have an income in Thailand without making a thai company, so can not have an income by investing in condos without making a company. So how to do it? Can someone give a good answer? Thank you in advance i dont think that renting a condo is categorized as having an income without a work permit , it is more like a return on investment which i think is legal as long as you pay tax on your rent income yearly , either you are on a tourist visa or retirement visa or investment visa , i believe many members here rent their condos and can give a more accurate answer Where are those members? Link to comment Share on other sites More sharing options...
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