Why are condo"s so much more than houses?

[guzzi850m2]

I knew this topic would turn into a pissing contest condos versus houses.

Come on guys it's not that difficult it all depends of your situation.

I have a family here so a condo is not an option for me and yes I know it's not my land and bla bla.

Anyone got divorced in the West? I know a few guys that was taken to the cleaners big time there so if you want to protect your investment as best as possible here DON'T buy a house and STAY single at all times (Good knows this is not the worst place in the world to be single in, he-he).

I have chosen the family way for many reasons, if you got the right lady (like in the West) life is good here.

Honestly if my wife chose to end our marriage (very unlikely) I wouldn't give a shit about my 9 mill baht house but be concerned about the future for my lovely son.

I am 51 and are still working and all my pension funds are overseas waiting for me when the times comes so I am not concerned about the house, it just a house for crying out loud.

I hope I will be in this house when I retire and can sit out on the patio and enjoy my garden and read a good book.

If I lived alone I would also be living in a condo, not exactly rocket science is it.

[KittenKong]

You still have not answered the question ,just tell me where these condo's are ,how many more times?

If you are trying to look for what you think I wrote then I cant help you as you have read it wrong. Go back and read it again.

If you want a decent-sized condo with a decent view for 5/6MB, take a look at just about any older condo building in Jomtien (with the exception of the really top ones).

If you want a 250sqm condo with sea views and gold-plated taps etc etc, you wont find it for 5/6MB, but I never said you would.

What I will say is that if you take a house or a condo in the same location the purchase prices wont be as dissimilar as some here seem to think. The several hundred houses that I can see from my balcony are very expensive indeed due to their location, but they have no sea view at all and are built on very small plots.

[Loptr]

Why are condo"s so much more than houses?

Can you say "bubble".

[KittenKong]

What if your condo decides they need a huge amount for emergency maintenance?

What happens if you fall out with the condo management and they decide to cut off your electricity and water?

What happens if the local police decide to operate a meth lab in the next condo?

How much control do you really have?

You could ask the same questions about houses on Moobans/Villages. In fact I would say there are probably more horror stories about Moobans/Villages here where the management has "gone wrong" than there are about "bad" condo buildings.

[i claudius]

The great Naam again displays his lack of knowledge. Rarely have I come across anyone who talks so much about things about which he knows so little.

Not sure why my earlier post was edited with the mention "link to another forum removed" as I posted no such link. Maybe some misunderstanding.

What I did post was a suggestion to look at the building called "Reflections", situated at the end of Jomtien Beach Rd. This building has the afore-mentioned maid's quarters and open-air kitchens in the larger units.

As for the gem about pool tables, I have personally seen several condo units in greater Pattaya where the owner has his own full-sized pool table in one room, and no shortage of other rooms to their names. Even in my own building there are at least two owners with their own full-sized pool tables. Not my cup of tea but certainly possible.

And I have also seen private pools in some condo units here.

So one should not imagine that "condo" necessarily means a 25sqm bolt-hole at under 1MB, any more than one should imagine that all houses are grotty little places on Nern Plub Wan, or 50MB mansions. Plenty are, and plenty are not.

Right ,just looked up reflectiones in Jomtien and very nice they look ,BUT THE STARTING PRICE IS 11 MILLION , so once again where are the super condoes you mentioned with 2nd kitchen and maids quarters for 5/6 million? just please tell us or i take it that you just made it up.

[ThaiBob]

The great Naam again displays his lack of knowledge. Rarely have I come across anyone who talks so much about things about which he knows so little.

Not sure why my earlier post was edited with the mention "link to another forum removed" as I posted no such link. Maybe some misunderstanding.

What I did post was a suggestion to look at the building called "Reflections", situated at the end of Jomtien Beach Rd. This building has the afore-mentioned maid's quarters and open-air kitchens in the larger units.

As for the gem about pool tables, I have personally seen several condo units in greater Pattaya where the owner has his own full-sized pool table in one room, and no shortage of other rooms to their names. Even in my own building there are at least two owners with their own full-sized pool tables. Not my cup of tea but certainly possible.

And I have also seen private pools in some condo units here.

So one should not imagine that "condo" necessarily means a 25sqm bolt-hole at under 1MB, any more than one should imagine that all houses are grotty little places on Nern Plub Wan, or 50MB mansions. Plenty are, and plenty are not.

Right ,just looked up reflectiones in Jomtien and very nice they look ,BUT THE STARTING PRICE IS 11 MILLION , so once again where are the super condoes you mentioned with 2nd kitchen and maids quarters for 5/6 million? just please tell us or i take it that you just made it up.

You certainly got things twisted, the reference of 5/6 million was first made up by you in post #61. No claims for super condos at that price were ever made. BTW, Reflections prices start at 5.9 million per the website for studios. My friend did buy, last year, a 145 sqm condo right on Jomtien Beach with unobstructed sea views for 6 million.

[Dork]

This has been discussed soooo many times on this forum. Foreigners can own a condo in their own name, foreigners cannot own land and look for all kinds of ways to skirt the intent of the law.

Actually i was looking to buy in my wifes name ,as foreigners can only own 49% why are the prices so high for Thais then? answer that , the Thai price was not much lower

Usually it's because the condo is not aimed at the Thai market and they are quite happy for the Thai 49% to remain unsold, or used as personal pads for the developers Mia nois, etc. In CM one of the big condos has every other floor bricked off, no fittings inside, no intention to sell. You can also convince some foreigners to buy in the Thai half, wife, gf, company and still get the gullible foreigner to pay an unrealistic price.

That's interesting. Do you have any more info on that CM condo? Such as the name? Thanks.

[AnotherOneAmerican]

What if your condo decides they need a huge amount for emergency maintenance?

What happens if you fall out with the condo management and they decide to cut off your electricity and water?

What happens if the local police decide to operate a meth lab in the next condo?

How much control do you really have?

You could ask the same questions about houses on Moobans/Villages. In fact I would say there are probably more horror stories about Moobans/Villages here where the management has "gone wrong" than there are about "bad" condo buildings.

Mooban management goes wrong

Electricity, not a problem as run by the utility company.

Water may be a problem, cost of a pipe and a filtration system to the nearest source.

Condo management goes wrong

No electricity

no water

no elevator

Without doubt, renting house or condo gives you less personal risk.

But, I'm buying a house, with a bit of luck moving in next month (85% bank loan).

In my case, most risk for the bank.

Edited August 15, 2013 by AnotherOneAmerican

[Trembly]

Not one single person here has it right as to why condos are much more expensive. This is the fact. Thais think a condo is a good investment. If you watch construction of a condo it starts off at one price and by the time it is finished it is selling for 30 to 50% more that the original price over lets say 2 years for construction. Is it supply in demand. Hardly. Thais make a small down payment then try and rent it out to cover the cost of the mortgage. The problem here is there are now more condos then renters. So what you have here is a REAL BUBBLE" waiting to burst. The tipping point will be a crisis (political or economic) that that will send everyone running and start to walk away from what they can no longer afford to maintain with the banks. Take a look at an older condo 3 to 4 years and look at the number of vacant condos. Or go onto a web site renting condos and look at prices. Rental prices should reflect the true market conditions of the real estate market. But in this case they are reflecting the amount of Debt a Thai has in a condo. So if you can find a rental for a 35 square meter unit at baht 10,000 why would you pay 16,000 for something similar . You would not nor would anyone else.

Yes we are in a bubble and it will burst Too many condos are being build and the builders are sucking in the Thais that still believe that an artificial price rise is a good. The builder is escalating prices not market conditions That is very dangerous.

All I can say to the so called Condo Investor is GOOD LUCK

Condos are great for someone who wants a low-maintenance abode that they can just leave be for extended periods without having to worry about security and what not.

Being high up also helps in avoiding smog and mosquitoes.

I'm personally watching and waiting for the bubble to burst.

[Trembly]

condos are a really bad idea.... you own what??? 49 percent? your maintenance fees and interest will be more that what you will be selling that overated 200 sqft space for. put your money in the bank and rent.

I thought that foreigners could own condos 100% . . .

[ThaiBob]

condos are a really bad idea.... you own what??? 49 percent? your maintenance fees and interest will be more that what you will be selling that overated 200 sqft space for. put your money in the bank and rent.

I thought that foreigners could own condos 100% . . .

They can, 49% refers to the available percentage for foreigner ownership in the project.

[Pattaya46]

Condo management goes wrong

No electricity

no water

no elevator

What if your condo decides they need a huge amount for emergency maintenance?

What happens if you fall out with the condo management and they decide to cut off your electricity and water? //

How much control do you really have?

What's your obsession with "condo management" ? "condo management" is not the king of the condo, and certainly does not do as he wants like he wants... They can't cut elevators by example! "condo management" just has power to manage the condo following the Committee instructions.

If something wrong between you and the "condo management" you just inform the Committee of your problem and they will solve it. If "condo management" acts bad or illegal, the Committee just can fire it and take a new one. Arrived many times already.

And about the "a huge amount for emergency maintenance", that's the reason for which condos have a "sinking fund" : millions of baht ready to be used for a emergency work on the condo. If used, the fund will be rebuilt in several years, avoiding owners to have to pay a big bill on 1 year.

Last, I don't know how big is your house, but about 1/3 of condos are above 100 sqm, many around 140 sqm and some above 200 sqm... Should be enough for must of us without children.

[PoodMaiDai]

To each his own, but I have no idea how anyone can live in some of those smaller condos. The big ones, OK. But the tiny boxes... that is like hell on earth.

[guzzi850m2]

To each his own, but I have no idea how anyone can live in some of those smaller condos. The big ones, OK. But the tiny boxes... that is like hell on earth.

It depends of your situation, most Thais are used to have many living under one roof so a tiny studio will not be a problem for them.

Also many condos are used as a holiday getaway for Russians and BKK Thais so again a tiny place is better than nothing.

I once lived in BKK with my wife (GF then) in a 32 m2 studio in Sukhumvit soi 18 and I didn't like it but the main problem for me was the horse shoe build,

we were looking direct into other studios not much more than 5 meters apart, so no vies (well you could see what they were doing over on the other side, lol)

and not much naturel light. Not nice.

Now I have app 125 m2 on each floor in my house and that is very nice, heaps of space, a 18 m2 office right next to the living room and so on but as you said: to each his own.

[KittenKong]

To each his own, but I have no idea how anyone can live in some of those smaller condos. The big ones, OK. But the tiny boxes... that is like hell on earth.

I think a lot of non-Thais have been suckered into buying these tiny condos as an alternative to paying for a hotel room during their visits here, or to renting a condo from someone else. And they have probably also been told that they can rent out the tiny condo for a 10% return when they arent using it themselves. Which is <deleted>, of course.

Pattaya is already full of rental condos with no tenants, and I cant see this getting any less the case when all these new places are finally built.

[bangkokstick]

To each his own, but I have no idea how anyone can live in some of those smaller condos. The big ones, OK. But the tiny boxes... that is like hell on earth.

You know that Thai like to live close to each others...

I know a family with 300 sqm house but still some of them live in the same room, maybe because of ghosts ?

[i claudius]

My mother in law has a 3 bed detached house ,god knows why ,she lives ,eats sleeps in the living room ,uses the downstairs shower room ,and rarely goes upstairs ,as does my young brother in law who lives with her ,beats me.

[Pattaya46]

// Also many condos are used as a holiday getaway for Russians and BKK Thais so again a tiny place is better than nothing.

I once lived in BKK with my wife (GF then) in a 32 m2 studio in Sukhumvit soi 18 and I didn't like it but //

Hi. Yes I can understand a small place for week-end or short holidays.

Very convenient to have a "second home" and not many things to bring every time.

But by "small" in this case I think about 35 sqm...

Now look at new condos: Unixx by example has 27 sqm and 22 sqm studios ! (yes, Twenty-Two!)

When you remove kitchen and bathroom areas, you basicly have a 10 sqm room to live in !!

and of course not even a balcony for a impression of space; a real shoebox

[JSixpack]

But by "small" in this case I think about 35 sqm...

But then you have to think "larger" budget.

Now look at new condos: Unixx by example has 27 sqm and 22 sqm studios ! (yes, Twenty-Two!)

When you remove kitchen and bathroom areas, you basicly have a 10 sqm room to live in !!

and of course not even a balcony for a impression of space; a real shoebox

Obviously you haven't lived in Japan like a Japanese. You get used to it.

You got your big TV, media center. queen-sized bed, internet, babe(s), cigars, and booze. What more do you need? Stop being piggish.

Hugh Hefner did quite well living on his bed. Well, it's a much bigger bed and it does have a mansion surrounding it!

Edited August 20, 2013 by JSixpack

[i claudius]

// Also many condos are used as a holiday getaway for Russians and BKK Thais so again a tiny place is better than nothing.

I once lived in BKK with my wife (GF then) in a 32 m2 studio in Sukhumvit soi 18 and I didn't like it but //

Hi. Yes I can understand a small place for week-end or short holidays.

Very convenient to have a "second home" and not many things to bring every time.

But by "small" in this case I think about 35 sqm...

Now look at new condos: Unixx by example has 27 sqm and 22 sqm studios ! (yes, Twenty-Two!)

When you remove kitchen and bathroom areas, you basicly have a 10 sqm room to live in !!

and of course not even a balcony for a impression of space; a real shoebox

I really cannot imagine actually living in a 22sqm room ,our bedroom is actually as big as that.