Condo Appreciation Thoughts

[CMweb]

Two good posts Binjalin

.....the central locations will always add to desirability for a lot of people.

I must say though for those willing to drive every time the blocks on the edge of town......and now the Scene and so on are going up actually outside town......can be a pleasant alternative. (though in the case if Chang Kian the first one got it's view partially stolen and now another Korean place may impair the view to that second one. This is of course happening to 103 off Nimmanhemin which is losing it's view completely to the expensive and to me unattractive Unique. Happily for Hillside residents it's been said that the plot for sale next door can only be low rise and their chairman has a lot of clout to protect his own investment)

One of my friends has put a deposit at the Scene. Trouble is that was a very long time ago now, and whilst the girl in the office keeps saying they nearly got permission only a molehill is visible in the long grass. It,ll be a year before long and that's a long time when you want to move in.

Vibe, I've promised to keep my eyes open for a large new condo for another friend moving here part time. I'm very interested in how things are in the newer blocks.

Out of interest is MF sold out? Does it yet have a committee fully run by buyers?

Do you know about the other blocks up there, the one with the blue windows right on the main road which Thais will love but farang will hate (Convention?) and so on? I once popped into Touch Hill and was not at all impressed with the cheap finish in the units, they would need upgrading before moving in for many people. How are the others? Thanks!

Touch Hill has only 2 units left, the rest is sold out.

The other condos up there are also sold out, only some large ones (2 – 4) are available, the only one you still get units are this one http://www.buyrentchiangmai.com/listing/new-condominium-in-chiang-mai.html will be ready end of this year. (they hope)

[TommoPhysicist]

We also have some land that we paid 6500 Baht per talang wah. That was early in the year, and now there is land on the market for 15000B per talang wah, just two plots over from ours. Can I get that price for our land? I do not know, but what I do know, is that I would start listing it at a lot more than 6500 since we can not find any in the area that is listed at that price. Most is listed at 10K and up.

Land has gone up a lot, condos and houses haven't.

As we can't own land or houses not much point in talking about the value.

(or the gains our wife/gf may have made)

[NeverSure]

...and I believe the divorce law in Thailand is a 50/50 split of whatever assets were aquired after the marrage.

Try to enforce that.

[TommoPhysicist]

...and I believe the divorce law in Thailand is a 50/50 split of whatever assets were aquired after the marrage.

Try to enforce that.

Why, have you tried to and failed? If not, then you really dont have the grounds to make such a statement. If you do have a story about how they will not follow the law, then please do share.....

It depends if you signed a little bit of paper in the land office stating on divorce it was entirely hers.

Many land offices won't register land to a Thai with a foreign spouse unless said document is signed.

[Rancid]

Had a house that tried to rent and couldn't due to oversupply so sold it, OK profit. Then looked around for something else, was amazed at the prices of town/shop houses now, there is no way you could get any kind of return on the rental. Lots and lots of moobaans popping up, lots of condos, looks like a real estate bubble to me, however they usually don't pop as hard here as in the west.

At any rate am heading home for a while and decided to buy nothing while it is peaking, will drop in again after the bubble does pop and bank stocks build to the point they are serious about moving repossessions cheaply. Like after the 97, it takes a while before the Thai banks actually drop their prices but when they do... Many may not agree with me but there you are. Of course if buying a home you have different concerns to buying for investment.

[cheeryble]

We also have some land that we paid 6500 Baht per talang wah. That was early in the year, and now there is land on the market for 15000B per talang wah, just two plots over from ours. Can I get that price for our land? I do not know, but what I do know, is that I would start listing it at a lot more than 6500 since we can not find any in the area that is listed at that price. Most is listed at 10K and up.

Land has gone up a lot, condos and houses haven't.

As we can't own land or houses not much point in talking about the value.

(or the gains our wife/gf may have made)

I believe if you bought condos well over the last decade or so you would have had free rent and a very good capital rise too.

If you bought high you should still come out better than even.

Edited October 17, 2012 by cheeryble

[cheeryble]

whatever the faults of H4 you cannot compare the location of MF with H4 which is by far a better location - and it's actually buzzing! parking? yes a problem but the Japs love it and it's jammed full!!!

A far better location? According to who? To you, thats who, but not according to us. Its totally subjective. We dont like the location of Hillside 4, ALWAYS has traffic outside, more noise, more pollution, hotter, ect.ect. We LIKE the location of MF, as do many others. More quite, a bit cooler, more scerene, more out of the way, ect, ect. There is no right or wrong when talking about whats a "better location". Depends what the people who live there want. Not sure what it being full of Japs has to do with anything.

Of course it's horses for courses and Chang Kian may be perfect for you and others but I think it's fair to say that Hillside 4 and the older condos like Hillside4 and Skybreeze next to CMU and Rimping on the Ping with their central locations are more desirable for the most punters. Location is always trumps and Hillside 4 will always sell or rent quickly at a fair price.

Convention looks HOT, and I think the noise from the road would flow straight up and into it. I have also not heard good things about the quality of it, as it was built by the same developer that built MF, and even though MF was his second project, the finishing was shocking. He is building the "resort" which I would personally stay away from, and no progress has been made for a while, which implys finance issues.

MF is good, but the committee is inept and seem happy letting the manager decide everything, and the manager works for the developer, so its a real mess! The developer even has one of his muppets on the commettee. Such a sham.

However, there is hope if we can get a committee that actually wants control of their building. It was over a year before the committee stated to record their OWN minutes by electing a secretary and a treasurer. Before that, the JM would run the meeting, and record the minutes, which did not represent what took place in the meeting. Chiang Mai properties is the worst thing to happen to MF, they do not know how a building should be run, nor do they care. We recieved none of the services that they list on their website in regards to building managment.

THankyou for that info.

Convention indeed looks very hot and with it's highway position and blue windows I would guess would not appeal to farang. If there is a pool I haven't seen it.

Interesting to hear that the build quality is mediocre which is what I found in Touch Hill and Baan Suan both of which seem rather formulaic bog standard buildings.

Still they sold so what do I know?

However I must warn my friend that cheap finish seems the norm in the new buildings and to prepare for a "renovation" before he moves in.

Speaking of pools I must say most places seem to pay lip service to a pool and it's usually more of a refresher pool. The best one I've seen is at Skybreeze which is big enough for real exercise and looks over the university to Doi Suthep. It was completely renovated and has a salt water system which for me is essential chlorine no way. If they could just finish the other renovations they've started there that could be one of the best buildings around.

Is the Resort getting many sales in advance?

Good luck with the committee at Mountainfront, committees can be a trial but keep trying......

Edited October 17, 2012 by cheeryble

[sitta]

A 1bed 70sqm condominium,old around 20/25 years, empty no fittings or furniture, located to the right of the super HWY, behind Makro super market, 10 Min to the center of CM, what it is worth?

Since most people here have good knowledge re: CM condo's, some one can help me with this please?

Any thoughts on what its worth?

[binjalin]

...and I believe the divorce law in Thailand is a 50/50 split of whatever assets were aquired after the marrage.

Try to enforce that.

Why, have you tried to and failed? If not, then you really dont have the grounds to make such a statement. If you do have a story about how they will not follow the law, then please do share.....

let's hope it never happens but Thailand is littered with farang who have lost everything and ALL thought 'it will never happen to me and my little teerak' hope it doesn't dude but if it ever does expect to lose everything

PS let's get back on topic

Edited October 17, 2012 by binjalin

[binjalin]

A 1bed 70sqm condominium,old around 20/25 years, empty no fittings or furniture, located to the right of the super HWY, behind Makro super market, 10 Min to the center of CM, what it is worth?

Since most people here have good knowledge re: CM condo's, some one can help me with this please?

Any thoughts on what its worth?

I'm pretty up on condo prices but need condo name

[binjalin]

Im not complaining about fees, just reminding the poster that all those "newer and better" upgrades were not free, that he helped pay for them.

Not going to go into the lift topic here. If you think "he" went out of his way to save you money, well, what can I say? May I have a pari of those rose colored glasses too?

Check to see the cost for the CCTV system as well....you might be shocked.

I am sure there is more than one crack in the building, and the crack I mentioned appears to be more than superficial. Looks as if a large chunk has shifted. Also, when I was doing my renos, the manager told me not to use any stone, cause the building was over weight. She would only have got that info from an engineer. Still safe? Sure. A building approaching its design limits....yes. And the pool on the roof only adds to that issue.

Look, we are all going to defend our own homes, as I did when I lived there. But now that I do not, I can see the forrest through the trees.

I still stand by my original comment that its run down. Have they fixed the water leaks in the lobby yet?? 6 years I watched water drop on the floor. Saw one lady slip and fall as well. Nothing changed. Now where is that very "experienced" guy that you mentioned??

whatever the faults of H4 you cannot compare the location of MF with H4 which is by far a better location - and it's actually buzzing! parking? yes a problem but the Japs love it and it's jammed full!!!

A far better location? According to who? To you, thats who, but not according to us. Its totally subjective. We dont like the location of Hillside 4, ALWAYS has traffic outside, more noise, more pollution, hotter, ect.ect. We LIKE the location of MF, as do many others. More quite, a bit cooler, more scerene, more out of the way, ect, ect. There is no right or wrong when talking about whats a "better location". Depends what the people who live there want. Not sure what it being full of Japs has to do with anything.

sure and...? you will justify YOUR choice, YOUR land, YOUR condo, YOUR teerak

being full of Japs IS relevant when you are renting out and they love it (I don't, actually, but I'm glad they do).

Isn't it far wiser to say 'i am satisfied with my choice right now and that may change or may not and good luck to everyone else's with THEIR choices which are not mine' the JPM and committee can make or break a condo - get yourself elected!

[sitta]

A 1bed 70sqm condominium,old around 20/25 years, empty no fittings or furniture, located to the right of the super HWY, behind Makro super market, 10 Min to the center of CM, what it is worth?

Since most people here have good knowledge re: CM condo's, some one can help me with this please?

Any thoughts on what its worth?

I'm pretty up on condo prices but need condo name

Anket Pavilon

[binjalin]

A 1bed 70sqm condominium,old around 20/25 years, empty no fittings or furniture, located to the right of the super HWY, behind Makro super market, 10 Min to the center of CM, what it is worth?

Since most people here have good knowledge re: CM condo's, some one can help me with this please?

Any thoughts on what its worth?

I'm pretty up on condo prices but need condo name

Anket Pavilon

oh wow that's one I don't know very well (I own several condos here in different locations) Thai blocks at 70 sq meters are typically 600/750/850 range but they are really pretty basic and most farang would never live there