kalbo123 Posted February 13, 2013 Share Posted February 13, 2013 Tomorrow, 9 am the pre sale of the Astra apartment building at Chan Clan rd. starts. Is anyone buying ? Will it be sold out within a day like the Supalai? What are the prices going to be? Link to comment Share on other sites More sharing options...
mascarakatze Posted February 13, 2013 Share Posted February 13, 2013 I met with them 2-3 weeks ago 4th floor 65k/M2 18th floor 130,000 Baht/M2 500 units Link to comment Share on other sites More sharing options...
hellodolly Posted February 13, 2013 Share Posted February 13, 2013 I met with them 2-3 weeks ago 4th floor 65k/M2 18th floor 130,000 Baht/M2 500 units How big are they and will they all be for sale or some for rent. Is it Chang Klan or Chang Klang If Chang Klang how far out are they around Chiang Mai land road? Link to comment Share on other sites More sharing options...
elektrified Posted February 13, 2013 Share Posted February 13, 2013 "Will it be sold out within a day like the Supalai?" You don't really believe that do you? Link to comment Share on other sites More sharing options...
MESmith Posted February 13, 2013 Share Posted February 13, 2013 "Will it be sold out within a day like the Supalai?" You don't really believe that do you? I suggest folk sleep out on the pavement to have a hope of snapping up a bargain 1 Link to comment Share on other sites More sharing options...
mascarakatze Posted February 13, 2013 Share Posted February 13, 2013 next to the shangri la Link to comment Share on other sites More sharing options...
kalbo123 Posted February 13, 2013 Author Share Posted February 13, 2013 "Will it be sold out within a day like the Supalai?" You don't really believe that do you? Went there a few days after they started the pre sale of Supalai. SOLD OUT! So no reason not to believe it,why would/t they sell me a unit. What might be true is that some people bought a few apartments purely based on speculation, but thats another story, Link to comment Share on other sites More sharing options...
heybruce Posted February 13, 2013 Share Posted February 13, 2013 Thailand really is behind. While the rest of the world is recovering from its real estate bubble, Chiang Mai is just getting started on the overbuilding and ridiculously optimistic valuations. Link to comment Share on other sites More sharing options...
elektrified Posted February 13, 2013 Share Posted February 13, 2013 (edited) "Will it be sold out within a day like the Supalai?" You don't really believe that do you? Went there a few days after they started the pre sale of Supalai. SOLD OUT! So no reason not to believe it,why would/t they sell me a unit. What might be true is that some people bought a few apartments purely based on speculation, but thats another story, You fell for one of the oldest marketing strategies of all time. We often use the same strategy in our business for the sole purpose of driving the prices up! Don't believe everything you are told; especially in Thailand. Edited February 13, 2013 by elektrified Link to comment Share on other sites More sharing options...
JeffreyMcCollum Posted February 13, 2013 Share Posted February 13, 2013 Won't buy from a company that can't even spend the time to get the English right on their signs Link to comment Share on other sites More sharing options...
Celcius Posted February 13, 2013 Share Posted February 13, 2013 (edited) Won't buy from a company that can't even spend the time to get the English right on their signs You're a hard customer to please! Edit: Here is their terrible website http://www.theastracondo.com/home/home.html Edited February 13, 2013 by Celcius Link to comment Share on other sites More sharing options...
dave2 Posted February 14, 2013 Share Posted February 14, 2013 re next to the shangri la hes right : ) dave2 Link to comment Share on other sites More sharing options...
hellodolly Posted February 14, 2013 Share Posted February 14, 2013 I hope it is better built than there web site. A black background with a gray colored writing on it. Hard on the eyes to read. One would think with the money they laid out they could have afforded a web site that grabbed you not made you struggle. 1 Link to comment Share on other sites More sharing options...
Rancid Posted February 14, 2013 Share Posted February 14, 2013 Location wise it is OK, however as just starting it will be quite a while till finished, will this bubble have popped by then? Link to comment Share on other sites More sharing options...
MESmith Posted February 14, 2013 Share Posted February 14, 2013 (edited) Did someone mention bubbles Edited February 14, 2013 by MESmith Link to comment Share on other sites More sharing options...
thaigolfer Posted February 15, 2013 Share Posted February 15, 2013 Against all logic and experience as a successful businessman but yet again: sold out in one afternoon........................ Link to comment Share on other sites More sharing options...
kalbo123 Posted February 15, 2013 Author Share Posted February 15, 2013 Against all logic and experience as a successful businessman but yet again: sold out in one afternoon........................ It's all a sales trick according to a previous poster They still have plenty of apartments, they just pretent they don't have them. Also al the people I saw buying apartments yesterday are part of the scam. Chiang mai is not booming it's all fake. Link to comment Share on other sites More sharing options...
hellodolly Posted February 15, 2013 Share Posted February 15, 2013 Against all logic and experience as a successful businessman but yet again: sold out in one afternoon........................ It's all a sales trick according to a previous poster They still have plenty of apartments, they just pretent they don't have them. Also al the people I saw buying apartments yesterday are part of the scam. Chiang mai is not booming it's all fake. Much as I distrust post like that one a part of me wants to say true. that is my common sense part. How many units do they have and how many people were there in the afternoon. Would have been a real crowd. Link to comment Share on other sites More sharing options...
LawrenceChee Posted February 15, 2013 Share Posted February 15, 2013 Not a trick its called staggered launch and common in property markets to gauge interest and possible returns Launch at one price all snapped ...released 2nd batch next weekend / month and make more $$$ and then the 3rd and then final phase Sound way to hedge your losses For the developer Link to comment Share on other sites More sharing options...
Foxman888 Posted February 15, 2013 Share Posted February 15, 2013 Won't buy from a company that can't even spend the time to get the English right on their signs That rules out 99.9% of companies here 1 Link to comment Share on other sites More sharing options...
heybruce Posted February 15, 2013 Share Posted February 15, 2013 Against all logic and experience as a successful businessman but yet again: sold out in one afternoon........................ Wow, so the bubble hasn't burst yet! Actually my favorite analogy is the one used to describe the global financial meltdown--Everybody was Cinderella and everybody knew midnight was coming, but nobody wanted to stop dancing while the music was playing. I wonder how many people know they are building or buying into a condo bubble, but don't want to miss out while the bubble is still inflating? 1 Link to comment Share on other sites More sharing options...
Popular Post WinnieTheKhwai Posted February 15, 2013 Popular Post Share Posted February 15, 2013 (edited) Thing is though, you never really know if you're in a bubble. You could have argued 15 years ago that paying 300,000 baht for a rai of nice land somewhere was an outrageous price, showing we were in a bubble that must explode. Well guess what: we were in a bubble, and it did explode. Yet that rai of land is now worth 2 million baht. And then for condominiums, you also get a place to live. This is different from buying stock or gold, which you don't get much enjoyment out of. If the building is solid, and you like it, and you like the location, then any bubble bursting is a minor ripple that doesn't even affect your day to day financial situation. And then 15 years later you get to listen to the bar-stool brigade saying how it's a bubble all over again and that anyone who doesn't rent at Smith Residence is delusional. Then you just smile. Edited February 15, 2013 by WinnieTheKhwai 5 Link to comment Share on other sites More sharing options...
heybruce Posted February 15, 2013 Share Posted February 15, 2013 You can take an educated guess as to when you're in a bubble just by checking to see if real estate prices are in line with local annual income, local rental prices, and a sanity check on how much a similar amount of money will buy elsewhere. Not enouigh people did these things in Japan or southern California in the late 1980's, or in much of the first world leading up to 2007. Local income: Six million baht, which seems to be a typical price for a "luxury" condo, is more than twenty times the annual income of young college graduates just starting out in Chiang Mai, and even more out of reach for the average Thai without a degree. Granted there will always be a market for some expensive condos, but an awfu lot of high end condos are being built. Rental: A few people may be able to rent these six million baht condos at rates that justify the price, but I suspect there will be more sob stories than success stories in the rental market. I'm renting a nice, 76 sq meter condo for less than a quarter of what the payments on a six million baht loan would be. Comparable other markets: Is there any place inland in Thailand, other than Bangkok, with real estate prices like Chiang Mai? I think if you do some research you will find that the equivalent of six million baht will buy larger, nices condos or houses in most medium size inland cites all over the world. Real estate values have gone up a lot in the last fifteen years in Chaing Mai, they are now at first world levels in a country that is still a developing nation economically. That doesn't mean real estate prices can only go up, that means they're past due for a fall. And I think the local building frenzy is a bad sign. 1 Link to comment Share on other sites More sharing options...
anselpixel Posted February 15, 2013 Share Posted February 15, 2013 (edited) There's a certain amount of manic behavior in any real estate market where monthly rental prices more than double in three years. I'm seeing that happen. The room I first rented for 5500 (six month's lease to get the low price) just went back on the market with a fresh floor, a 13,500 per month price tag, and one year minimum lease. I'm familiar with other buildings where the same sort of thing is happening. Just scan the real estate ads in the local paper, and it's easy to see there's been a big price jump in the housing market for people who require English advertising. The Thais I know who rent continue to rely on the regular market, which has remained very stable over the same time period. Edited February 15, 2013 by anselpixel Link to comment Share on other sites More sharing options...
WinnieTheKhwai Posted February 15, 2013 Share Posted February 15, 2013 6 million baht condos would be very high-end though. That buys a very nice big house, not sure why anyone would blow that on a condo. (I can see it if regular houses and land come at a premium, like in big cities, but not for a place like Chiang Mai where there's no shortage of available land for residential purposes.) I don't think I'm far off when guessing that the vast majority of condo accommodation is of the small to very small category; one room with a kitchenette; MAYBE one tiny bedroom. So in the 1.5-2.5 mil baht range. That price level more or less makes sense, because houses in that range wouldn't be downtown or would be small townhouses. 1 Link to comment Share on other sites More sharing options...
elektrified Posted February 15, 2013 Share Posted February 15, 2013 Against all logic and experience as a successful businessman but yet again: sold out in one afternoon........................ Wow, so the bubble hasn't burst yet! Actually my favorite analogy is the one used to describe the global financial meltdown--Everybody was Cinderella and everybody knew midnight was coming, but nobody wanted to stop dancing while the music was playing. I wonder how many people know they are building or buying into a condo bubble, but don't want to miss out while the bubble is still inflating? +1 Link to comment Share on other sites More sharing options...
elektrified Posted February 15, 2013 Share Posted February 15, 2013 (edited) 6 million baht condos would be very high-end though. That buys a very nice big house, not sure why anyone would blow that on a condo. (I can see it if regular houses and land come at a premium, like in big cities, but not for a place like Chiang Mai where there's no shortage of available land for residential purposes.) I don't think I'm far off when guessing that the vast majority of condo accommodation is of the small to very small category; one room with a kitchenette; MAYBE one tiny bedroom. So in the 1.5-2.5 mil baht range. That price level more or less makes sense, because houses in that range wouldn't be downtown or would be small townhouses. They are building (quite poorly I might add) cheap condos or apartments/shopfronts out in the sticks in Mae Jo. I was out there last night and had a look around. Asking price: 5.5 million THB. Who would buy a concrete box with no land out in the sticks for that price? When will we be in the bubble if not already? BTW, is this Astra place in Mae Jo? I must have counted 30 signs for the Astra on small country roads all over Mae Jo. LOL sold out in one day. Right! Hahaha. Edited February 15, 2013 by elektrified 1 Link to comment Share on other sites More sharing options...
elektrified Posted February 15, 2013 Share Posted February 15, 2013 I met with them 2-3 weeks ago 4th floor 65k/M2 18th floor 130,000 Baht/M2 500 units Would anyone really pay 4.875 million THB for a [for example] 75 m2 concrete box on the 4th Floor or 9.750 million THB for a 75 m2 concrete box on the 18th Floor? Who would want to live amongst what -- 1,000 or more other people (500 units)??? It would be like living in a hotel. What a horrible way to live! 2 Link to comment Share on other sites More sharing options...
heybruce Posted February 15, 2013 Share Posted February 15, 2013 6 million baht condos would be very high-end though. That buys a very nice big house, not sure why anyone would blow that on a condo. (I can see it if regular houses and land come at a premium, like in big cities, but not for a place like Chiang Mai where there's no shortage of available land for residential purposes.) I don't think I'm far off when guessing that the vast majority of condo accommodation is of the small to very small category; one room with a kitchenette; MAYBE one tiny bedroom. So in the 1.5-2.5 mil baht range. That price level more or less makes sense, because houses in that range wouldn't be downtown or would be small townhouses. They are building (quite poorly I might add) cheap condos or apartments/shopfronts out in the sticks in Mae Jo. I was out there last night and had a look around. Asking price: 5.5 million THB. Who would buy a concrete box with no land out in the sticks for that price? When will we be in the bubble if not already? BTW, is this Astra place in Mae Jo? I must have counted 30 signs for the Astra on small country roads all over Mae Jo. LOL sold out in one day. Right! Hahaha. You raise another concern: Are these condos being built to last, or only built well enough to look good until the units are sold? I don't know, and I don't know how to find out. If I were in the market for a luxury condo I'd seriously consider buying something in a building that has been standing for a number of years without unusual maintenance problems, and with a reputation for being reasonably well managed. I'd then remodel what I purchased to my tastes. Link to comment Share on other sites More sharing options...
Asiantravel Posted February 15, 2013 Share Posted February 15, 2013 (edited) I noticed in another thread people were talking about how many Chinese are to be seen out and about. Does anybody think Chinese will start to invest in these new developments? Edited February 15, 2013 by Asiantravel Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now