Average Selling Time For Updated Condo In Good Location

[KRS1]

Why not put it up for sale,then you will know how long it took

to sell it,then come back here and tell us ,then we will all know

and be a little wiser.

No one mentions luck, that plays a big part in getting it sold as

well,if your lucky you could sell it a few days, if you are unlucky

could take months.

regards Worgeordie

In the US you can extrapolate the average time it takes to sell a piece of property in certain neighborhoods from the time it was listed till the time it was sold.

I do not rely on luck.

[KRS1]

You have a bigger chance to sale your condo if you work with multi agencies, to find a buyer you need to get the right guy to find your condo, all must fit to come to a sale.

PM me if you like to add your condo to our agency

When time comes you will be notified.

[cmbe]

Most foreigners wildly overprice second-hand property.

They paid 30-50% more than the local price, they they expect the condo to have appreciated in price, when it usually depreciates.

Why did it depreciate? ..... less foreigners around, condos being built as fast as they can throw them up, Baht high against other currencies ......

Many condos in CM NEVER sell.

I have also suspected this. When a farang buys a condo and claims its depreciating, its actually just going back to market value. I see numerous places aimed at making on average about 300k baht profit from over valuation during the selling process.

Just today i saw a 40sq meter condo selling for 7 million baht...guy has got to be dreaming.

You can actually buy a refurbished condo (whole building refurbished) just outside CM for 160k (corner unit 190k).

On the 118 just after the 121 traffic lights, brightly coloured tower on the right.

Pal of mine bought two last month, so he could have a two bed place for 350k.

What size were they? I am not familiar with the area. Is it a hard to get to area or get away from area if you don't have your own transportation. How close to all the amenities. short walk long walk.

I think Orchid place, that is one in a few in Chiang Mai that the price still cheap (1-2 years ago), 150k/ 24-32 sqm. (not sure about size), and another one is PP, SR, Ang Ket, but this year after changing estate appraisal, the price is higher, for example Orchid place's price is 400k/32 sqm.

I think in the city it is not easy for find some place that really quiet, most places are noisy (from the car, motorbike, bar, live music, drunk,...) , only some place more or less than other place and different noise depend which area you live.

Here is map; http://maps.google.co.th/maps?q=chiang+mai+map&hl=th&ie=UTF8&ll=18.830733,99.053421&spn=0.010825,0.013797&hnear=%E0%B8%88.%E0%B9%80%E0%B8%8A%E0%B8%B5%E0%B8%A2%E0%B8%87%E0%B9%83%E0%B8%AB%E0%B8%A1%E0%B9%88&gl=th&t=m&z=16&layer=c&cbll=18.830765,99.053468&panoid=Ll9x16VwJZ8gtLwmPwSzGg&cbp=12,146.99,,0,10.55

[cmbe]

I think someone asked about condo near Payap University. Do you want to know the price, or do you want to know how quick can sell the condo?

I am not sure but I saw a condo for sell 1.08 m./32 sqm.

[cmbe]

May take just only one week if the price is reasonable, maintenance is good, not too old building, location is good, facilities, furniture,.... and may take more than one year if not so many people interest in that condo, to live there, to invest,..

The price is different on factors above, such as on Nimmanhemin road, old buiding price between 600k-1.5m. for 32-42 sqm (depend which condo)., for not so old (a few years)building approx. 4.5m. for 77 sqm., on Huay Kaew road 1.5-2m. up for 45 sqm.,

If I know where is the area of the condo, it will be easier to say about the price (approx.).

How about one near Payap University, old building 70sqm, NO furniture or fittings, empty condo, how much it would go for?

If you mean hill side Payap 9, you can see in my last post, but if it is Ang Ket, price around 680k/75 sqm., partly furnished.

[sitta]

May take just only one week if the price is reasonable, maintenance is good, not too old building, location is good, facilities, furniture,.... and may take more than one year if not so many people interest in that condo, to live there, to invest,..

The price is different on factors above, such as on Nimmanhemin road, old buiding price between 600k-1.5m. for 32-42 sqm (depend which condo)., for not so old (a few years)building approx. 4.5m. for 77 sqm., on Huay Kaew road 1.5-2m. up for 45 sqm.,

If I know where is the area of the condo, it will be easier to say about the price (approx.).

How about one near Payap University, old building 70sqm, NO furniture or fittings, empty condo, how much it would go for?

If you mean hill side Payap 9, you can see in my last post, but if it is Ang Ket, price around 680k/75 sqm., partly furnished.

Why Anket is so cheap?

[cheeryble]

Most foreigners wildly overprice second-hand property.

They paid 30-50% more than the local price, they they expect the condo to have appreciated in price, when it usually depreciates.

Why did it depreciate? ..... less foreigners around, condos being built as fast as they can throw them up, Baht high against other currencies ......

Many condos in CM NEVER sell.

Not sure about how many farang overpay, maybe a few do who knows. All you're really saying is it's a bad idea to overpay. So don't.

"less foreigners around"? .........how do you come by that one?.....figures?

"baht high against currencies" .....(and likely climbing)....seems to me a great reason to be moving to baht assets, hopefully useful ones like condos.

In any case none of your undemonstrated negatives applies to well chosen condos.

In that case the farang percentage rises. This itself brings a price rise from simple demand, and the Thai demand is likely rising in synch. When it hits 50% you have the situation of a two tier pricing system which means farang prices automatically hike further upward.

The price of the new condos BTW is based on land, materials, and labour cost. This has obviously inflated considerably since the established condos were built. This is in turn is drawing the price of the desirable ones upward. It is presently at the stage where you can get one of the few superb conversions in a good older building for the same price as a rather basic new condo (40,000psm) about whose future we have little idea in terms of management, occupancy, etc......and which really needs upgrading before moving in for however much that costs.

If I'm not mistaken the original cost of the older condos was about 15,000psm. Now it's 40,000.

But the 40,000 would have the foreign currency equivalent of maybe 60,000 compared to the rate when buying originally.

Go figure.

Edited September 9, 2012 by cheeryble

[cheeryble]

"less foreigners around"? .........how do you come by that one?.....figures?

When i ask that it's not a rhetorical device I would really like to know about the growth (or drop, as you suggest) in the farang population in CM and Thailand. I'd like to know as much as possible about them. Anyone good at data mining and we'll find out if Tommophysicist's assertion is correct?

BTW the Chinese really ARE coming.

This is noted not only by TAT but by a friend of mine who runs a boutique hotel. He said a fair proportion of his clientele is now Chinese. The interesting thing is that whereas they used to travel in groups on coaches, cameras at the ready like automatons, they now are arriving in couples and small groups and organising their own trips........almost like human beings.

Is there some reason they won't be gradually buying property like every other nationality?

Edited September 10, 2012 by cheeryble

[KNJ]

_{Always amazes me when I see units for sale how little information/photos are attached.}

_{Even more amazing is that many want to sell fully furnished, whilst it might suit some people it is more likely that a new owner would want to place their own style on a place. Additional to which most Thais seem to think that all those fixtures, fittings, furniture are worth what they paid for them.}

_{A bit like second hand car market which is ridiculous second hand prices being asked, makes almost no sense but to buy new.}

_{Land, material, quality all will reflect the price but the same principle rules everywhere , location, location and location. However having said that the maintenance or lack of it can greatly reduce the value of a property.}

_{the inherent issue is a Thai will never sell for less than what his neighbour sells something similar for. One sells a prime peice of beachfront land with amenities connected and great potential, his neigbour with no beach front, doggy building land poor views, prone to flooding thinks his must be worth at least the same.}

_{The point I am trying to make is that Thais in general think of land and property in a different way and unless he needs the money will not sell for less than purchased or neighbour sold for Caveat Emptor}

[TommoPhysicist]

"less foreigners around"? .........how do you come by that one?.....figures?

When i ask that it's not a rhetorical device I would really like to know about the growth (or drop, as you suggest) in the farang population in CM and Thailand. I'd like to know as much as possible about them. Anyone good at data mining and we'll find out if Tommophysicist's assertion is correct?

BTW the Chinese really ARE coming.

This is noted not only by TAT but by a friend of mine who runs a boutique hotel. He said a fair proportion of his clientele is now Chinese. The interesting thing is that whereas they used to travel in groups on coaches, cameras at the ready like automatons, they now are arriving in couples and small groups and organising their own trips........almost like human beings.

Is there some reason they won't be gradually buying property like every other nationality?

I have noted far less older western foreigners in CM the last couple of years.

I have also noted far more young Chinese foreigners in CM this year.

I expect they will want to buy a new condo, like everyone else in Thailand.

In any case none of your undemonstrated negatives applies to well chosen condos.

You sound like a man who's bought an expensive condo!

Good luck selling it secondhand to the Chinese for a profit.

Edited September 10, 2012 by TommoPhysicist

[Mousehound]

My $ worth.

If you are buying then always buy the cheapest house in the street! This is a trueism for all property. If you can't sell in three months then you may have it priced too high: or you are not marketing it properly.

[cheeryble]

Thankyou Tommo for telling us that your assertion that there are diminishing numbers of farang buyers is based on the perception that you have "noted less older foreigners in recent years".

Personally I think there are more, but as I said would love to know hard data on that.

I hope if you were a physicist you didn't base any papers on this sort of evidence.

While we're here....

Most foreigners wildly overprice second-hand property.

They paid 30-50% more than the local price, they they expect the condo to have appreciated in price, when it usually depreciates.

Which orifice did you pull the 30-50% out of? Do you have more than an anecdote to support that one? The meta-picture is prices haven't been falling, they've been rising, as I demonstrated with figures in post no 37. Of quite a few sales I've seen happen in the last year or two all have been at a considerable price hike averaging 50% (not to mention no rent and sold in a now-more-valuable baht). The worst was a friend who wanted an instant sale and sold for almost exactly what he bought for after getting 6 years free rent. He got paid in US $. But although the bargain baht price he accepted to get out instantly (I reckon he could have got 20% more for a month's wait) didn't rise in 6 years do you know how much $ profit he made?

You sound like a man who's bought an expensive condo

Quite the opposite.

I now own useful, nay essential, hard assets in the country in which I live and am no longer vulnerable to the vicissitudes of exchange rate or landlords or inflation.

Just here to balance what I consider spontaneous inaccurate opinion ....there are people who want to make rational decisions about the serious matter of buying property. Listening to unevidenced and thin opinion could cost them dearly.

Edited September 10, 2012 by cheeryble

[TommoPhysicist]

Quite the opposite I bought very well and also when the baht was lower. I now own useful, nay essential, hard assets in the country in which I live and am no longer vulnerable to the vicissitudes of exchange rate or landlords or inflation. Just here to balance what I consider irresponsible lipflap....there are people who want to make rational decisions about the serious matter of buying property. Listening to unevidenced and thin opinion could cost them dearly.

My housing costs me nothing, so I will have to compare using a friends rented house in CM.

He rents a 1.4Mbht house for 5000bht a month (60kbht a year).

Oh but hang on a minute, we've had this discussion before, and you have no idea in investing capital TODAY.

What you found profitable 10 years ago when the exchange rate was 50% better, and property was 50% cheaper (land was 90% cheaper), may not work TODAY.

I agree, roll back time 10 years and I would buy as much land around CM at 25kbht per rai (and 75 bht to the UKP) that I could afford, even if I couldn't own it myself.TODAY at 500kbht per rai (and 50bht to the UKP) not on your life.

Edited September 10, 2012 by TommoPhysicist

[mesquite]

"less foreigners around"? .........how do you come by that one?.....figures?

When i ask that it's not a rhetorical device I would really like to know about the growth (or drop, as you suggest) in the farang population in CM and Thailand. I'd like to know as much as possible about them. Anyone good at data mining and we'll find out if Tommophysicist's assertion is correct?

BTW the Chinese really ARE coming.

This is noted not only by TAT but by a friend of mine who runs a boutique hotel. He said a fair proportion of his clientele is now Chinese. The interesting thing is that whereas they used to travel in groups on coaches, cameras at the ready like automatons, they now are arriving in couples and small groups and organising their own trips........almost like human beings.

Is there some reason they won't be gradually buying property like every other nationality?

Yes there is: Because they can't, like every other nationality except Thai

Edited September 10, 2012 by mesquite

[cheeryble]

Yes there is: Because they can't, like every other nationality except Thai

The Chinese aren't allowed to buy condominiums outside China?

[cheeryble]

My housing costs me nothing, so I will have to compare using a friends rented house in CM.

He rents a 1.4Mbht house for 5000bht a month (60kbht a year).

Not sure where that fits in....

Oh but hang on a minute, we've had this discussion before, and you have no idea in investing capital TODAY.

I presume you mean I'm not willing to buy a condominium now it's not ten years ago.

You know that for a fact? I wonder how.

............may not work TODAY.

If you're saying there is no investment that doesn't fluctuate and we never know which way the next wave will go it's hardly news.

The point is we are considering whether condos are decent investments.

Relevant to this you made a lot of statements in post #20 which I saw as ridiculous so I ridiculed them.......what else should I do?

I'll restate my position clearly that if you are going to live in it, property is the best investment going. This comes with a lot of caveats, especially here in Thailand to do with management, upkeep, location etc etc, without fulfilling which you can indeed come a cropper. However you will still have bought yourself the place to live fitting exactly your criteria and your ROI will be not only the pleasure of your own place but the rent you saved and hopefully any capital gains......which so far....if you fulfilled the caveats and bought wisely......will be well worthwhile.

Edited September 10, 2012 by cheeryble

[jackr]

There has never been more foreigners here, of the farang type, and certainly in the last 10 years. If it looks less, it must be perception thing. I did read somewhere it was around 20,000 (a big slice of which are retirees, miserable ones at that), up from 5,000 ish in 2000-2005. Reckon it's more like 30,000 today and they all tend to want to go to immigration when I go!

[worgeordie]

Why not put it up for sale,then you will know how long it took

to sell it,then come back here and tell us ,then we will all know

and be a little wiser.

No one mentions luck, that plays a big part in getting it sold as

well,if your lucky you could sell it a few days, if you are unlucky

could take months.

regards Worgeordie

In the US you can extrapolate the average time it takes to sell a piece of property in certain neighborhoods from the time it was listed till the time it was sold.

I do not rely on luck.

Hi KRS1,

Why not put it up for sale,then you will know how long it took

to sell it,then come back here and tell us ,then we will all know

and be a little wiser.

No one mentions luck, that plays a big part in getting it sold as

well,if your lucky you could sell it a few days, if you are unlucky

could take months.

regards Worgeordie

In the US you can extrapolate the average time it takes to sell a piece of property in certain neighborhoods from the time it was listed till the time it was sold.

I do not rely on luck.

Hi KRS1, This is Thailand,and no such service exists,and if you have been here a few years you will realize that luck plays a part in .

everyday life here. regards and good luck selling your condo, Worgeordie

[true blue]

"less foreigners around"? .........how do you come by that one?.....figures?

When i ask that it's not a rhetorical device I would really like to know about the growth (or drop, as you suggest) in the farang population in CM and Thailand. I'd like to know as much as possible about them. Anyone good at data mining and we'll find out if Tommophysicist's assertion is correct?

BTW the Chinese really ARE coming.

This is noted not only by TAT but by a friend of mine who runs a boutique hotel. He said a fair proportion of his clientele is now Chinese. The interesting thing is that whereas they used to travel in groups on coaches, cameras at the ready like automatons, they now are arriving in couples and small groups and organising their own trips........almost like human beings.

Is there some reason they won't be gradually buying property like every other nationality?

I have noted far less older western foreigners in CM the last couple of years.

I have also noted far more young Chinese foreigners in CM this year.

I expect they will want to buy a new condo, like everyone else in Thailand.

In any case none of your undemonstrated negatives applies to well chosen condos.

You sound like a man who's bought an expensive condo!

Good luck selling it secondhand to the Chinese for a profit.

all your posts are very bitter,whats the matter with you,your in the los,always look on the bright side of life,