Luxury condo in CM?

[mccw]

^ worth looking at the companies capitalisation in the small print. Nimmana is built with full cash- no loans; 250 million bht

Other condos clearly are running on credit and hoping for sales. Some even don't appear to have credit and do are offering % returns on investors money f they pay up in full before completion. Such as "Next 1".

Good to be careful certainly.

[evenstevens]

^ worth looking at the companies capitalisation in the small print. Nimmana is built with full cash- no loans; 250 million bht

^^^ perhaps makes good reading

BUT

without a escrow a/c in place,any investment deposits etc etc, are totally unsecured

a SET listed company, one could make allowances

a nice afternoon to all

[mccw]

If the worst happened then the deposits would have to be reclaimed through legal action. The company is on the hook for the amount equal to the registered capital. If a developer has a lot of debt then of course the banks get in first and depositors be shafted.

Off plan always has a degree of risk of course. But it also has a chance for gain. Like any investment one needs to do the home work and consider carefully if the risk is worth it and affordable in a worse case scenario.

Personally i believe Nimana is one of the safest off plan options. But even so, if the money at stake were all my "eggs" I would not be putting them in to such a proverbial "one basket".

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[evenstevens]

If the worst happened then the deposits would have to be reclaimed through legal action. The company is on the hook for the amount equal to the registered capital. If a developer has a lot of debt then of course the banks get in first and depositors be shafted.

^^^ agreed,as i already pointed out any deposit, is totally unsecured

you have mentioned on this thread

that u are hoping to receive a 50k to 60 k a month rent

how can this be???

punna residence,has units simarlar size and quality to yours @30k to 35k,a month,without asking for a nick

and they are a stones throw from your condo

50k to 60 k ,for a condo( approx 120 sq metres) rental in c/mai ,sure beats me, all ends up

all have a very nice evening

Edited June 23, 2014 by evenstevens

[mccw]

The facility at punna is not so great I think. I haven't seen the finish or views of what u are refering to either so can't really comment. Nor have I seen the furnishings or layout/ in room facilities. 103 condo is also close by , but I reckon each unit - even in the same building, can be totally different values. It's not such a simple equation as u try to make out.

[evenstevens]

The facility at punna is not so great I think. I haven't seen the finish or views of what u are refering to either so can't really comment. Nor have I seen the furnishings or layout/ in room facilities. 103 condo is also close by , but I reckon each unit - even in the same building, can be totally different values. It's not such a simple equation as u try to make out.

its not a simple equation as i try to make out??? mccw, its market price,fullstop

punna is not so great??? perhaps take a good look and then form a solid true opinion

have seen your building site completely under water by at least a metre deep, all your reinforced steel for foundation purposes were rusting away before they managed to pump it dry

next day, your companys bulletin board on site showed a photo of this ,but the penny dropped and was immediately removed,can throw ii another couple of tweakers,but why bother

your rental values of 50k to 60 k are in b/koks world

can deal a few cards on the noise polluotion, bands playing loud and drunks yahooing to the early hrs,not to mention the motor bikes (no exhausts) puncturing the neighbourhood air(do hope u have double glazed windows installed)

but in saying the above the very ,again the very best of luck in your investment

[mccw]

Got up on the wrong side of bed this evening evens?

Seems your just spouting your own subjective opinionated tripe,,, again.

Clearly noise, traffic and your views on facilities are just that, subjective. This area, wheat her you personally would live there or not, it is prime location and desirable for many people, despite your subjective misgivings. I example the same problems as I did before, comparing central London to countryside living. Different strokes for different folks old boy.

Tbh, I think now you are showing you have some kind of axe to grind here; what with keeping going on about this subjective location "problems" and now clutching at straws regards construction. Structural steel does not seriously damage from rust from a such time on water and I saw the water and no steel was open to it anyway since all concreting in at that level was already undertaken to allow the upper floors to have been constructed; clearly you've not any professional experience of sites or projects, nor I suspect any serious experience of this or any other property market, as you repeatedly show basic misunderstandings, confusing your own subjective feelings with the target of the investment.

Regards pricing. 50-60 is my target. I think that is achievable. It will be one of the best units in chiang Mai of its type. Brand new, no noise from renovations going on around the building like the older condos, top notch facilities, designated parking space, great furniture and decor, 60inch 3D TV and all new mod appliances, including washing machine and full western kitchen. And yes double glazing is standard, haha. Joker.

End of the day though, I don't care too much if I have to drop the price a bit, 45 or even 35, it is still better than parking the money in the bank in my book and main point is a stable bht income; a diversification from our other investments; it is not meant to be the greatest returns of all time. Just one nice place here in my name for a decent monthly wedge; at less hassle and work than running 5 or ten smaller older units for example.

Smaller cheaper units might or might not yield marginally better return, I could debate this in more detail, but really I can not be bothered to chase around many different rents anyway- had enough of that in the UK (where I had over 30 low cost units on the go- pain in the back side after a few years!).

For the real money I split UK houses and shop houses in to smaller units and also now split the large Thai land in to smaller parcels. Capital growth and a stable monthly bht income (at minimal hassle) are two completely different objectives. High yield UK rentals such as HMOs are one game, while Higher yield bht income could be achieved possibly at another method too, such as dormitory or apartments investment; I looked at building a couple of blocks to service the workers just out side Bangkok as it happens- but decided the management be too much hassle for us personally.

I am happy with my choice.

As I said, different properties and investments suit different people and for different purposes.

I would say chock dee, but I don't think you need it- since you don't invest in property anyway - right?

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[evenstevens]

Regards pricing. 50-60 is my target. I think that is achievable. It will be one of the best units in chiang Mai of its type. Brand new, no noise from renovations going on around the building like the older condos, top notch facilities, designated parking space, great furniture and decor, 60inch 3D TV and all new mod appliances, including washing machine and full western kitchen. And yes double glazing is standard, haha. Joker.

End of the day though, I don't care too much if I have to drop the price a bit, 45 or even 35, it is still better than parking the money in the bank in my book and main point is a stable bht income;

I would say chock dee, but I don't think you need it- since you don't invest in property anyway - right?

35 k to 45 k a month, now you are on the right side of the fence

me invest in c/mai property, HELL NO, too risky for my likings

been a self funded retiree for the last 13 yrs,and have nt strucked a blow,just wait till the eagle shits every month,and perhaps a very small juggle with my port folio from time to time

found over my life time ,by keeping things easy with no hassles, is simply the best

and please calm down,all my posts have been on topic and most have good contents, I have no personal bad feelings against you at all, in fact i have enjoyed our banter

and a very nice morning to you,and all

Edited June 23, 2014 by evenstevens

[mccw]

Good morning evens. Better side of the bed today

Like I say, different strokes old chap. For me I don't touch stocks, bonds or any of that, far too risky for in my view- bits of paper or virtual digits floating around, waiting for the next financial crises to wreak havoc and to knock a few out. Even bank deposits make me uncomfortable when they are large waiting between projects. You know that ready for the next crises most of the west has prepared the laws for "bail ins" to snatch the cash strait out of the publics bank accounts, a la Cyprus style. Thailand banks a bit safer and better capitalized at least. But the paper pyramids are certainly not for me, I like to be able to touch and walk around what I own.

But any how, Chock dee with the paper investments. Have a nice day and enjoyable retirement.

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[beau thai]

Good morning evens. Better side of the bed today

Like I say, different strokes old chap. For me I don't touch stocks, bonds or any of that, far too risky for in my view- bits of paper or virtual digits floating around, waiting for the next financial crises to wreak havoc and to knock a few out. Even bank deposits make me uncomfortable when they are large waiting between projects. You know that ready for the next crises most of the west has prepared the laws for "bail ins" to snatch the cash strait out of the publics bank accounts, a la Cyprus style. Thailand banks a bit safer and better capitalized at least. But the paper pyramids are certainly not for me, I like to be able to touch and walk around what I own.

But any how, Chock dee with the paper investments. Have a nice day and enjoyable retirement.

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Yep, different strokes for different folks as you say but I have always preferred things I can buy and sell (more important) at the touch of a button-had too many lengthy waits to sell property in my life in different countries!

So a mix of both works best for me-and gives me another interest, in my lifelong attempts to read enough to beat the markets at least some of the time. Sometimes lucky, sometimes not but I find it stimulating, and usually rewarding.

[mccw]

^ Oops - wrong thread- but to link it- over a long term/ coming decades I think more and more Thais and globally population will shift from Coastal to higher in land communities. The demographics of Thais retiring from bangkok and Asians, Chinese especially , coming to retirement and looking to nice habitual able places will mean land and property prices in chiang Mai being on a decades long uptrend I think.

[evenstevens]

Good morning evens. Better side of the bed today

Like I say, different strokes old chap. For me I don't touch stocks, bonds or any of that, far too risky for in my view- bits of paper or virtual digits floating around, waiting for the next financial crises to wreak havoc and to knock a few out. Even bank deposits make me uncomfortable when they are large waiting between projects. You know that ready for the next crises most of the west has prepared the laws for "bail ins" to snatch the cash strait out of the publics bank accounts, a la Cyprus style. Thailand banks a bit safer and better capitalized at least. But the paper pyramids are certainly not for me, I like to be able to touch and walk around what I own.

But any how, Chock dee with the paper investments. Have a nice day and enjoyable retirement.

Sent from my iPad using Thaivisa Connect Thailand

.

how can you come to the above rubbish??????, mccw, just guessing and assuming, is a dangerous game to play.

my portfolio is owning taxi cab plates

a very nice afternoon to all

[lks7689]

Thanks VIBE, and sorry to hear about your experiences.. not exactly what you like to go through moving into a brand new condo...

Having quite some global property experience, I am generally VERY sceptical to developers in Thailand. Having said that, I am aware that a few of them are in fact very professional. For example, I have personally very good experience of RaimonLand.

Would be interesting to hear feedback from others regarding Kingsfield / Quality Condo..

Which project did you purchased from RL? The River is causing alot of pain to some owners....I understand there is plan for a high-end condo in CM but it is still in the very early stage. You can pm me as it is not appropriate to discuss it here.

[mccw]

Hello

I went to see the baan chiang Mai riverside the other day.

Has to be the very too of anything on the market condo wise in chiang Mai in terms of finish.

Must be at 140 to 180k per sqm!

All marble and teak; hidden aircon etc. only large units 86 sqm up.

Only 14 total in the whole building.

Slightly short on parking when car is a must at that location; well bike be ok. But they anticipate most units being only holiday home rather than full residence.

Nice pool area next to the river views.

Not finished yet but well underway.

Can PM me if want more specific details

[mccw]

Btw

There is a new law- no more new buildings over 2 levels along the riverside.

[mccw]

I got all details Laguna. Is now same or more expensive than nimmana. Even the Ruam chock one- no the best location; and the one on corner the moat is 90 to over 100k psqm.

[evenstevens]

I got all details Laguna. Is now same or more expensive than nimmana. Even the Ruam chock one- no the best location; and the one on corner the moat is 90 to over 100k psqm.

yes that maybe so,but developers prices and availibilty lists, are up and down like a fiddlers elbow

popped into nimmana a few weeks ago,from their sales map in the office,they appear to having difficulty, selling the outside units,but that sales map has probably now changed from what i saw

whilst in the area, called into the unique condo,(completed quite a way back)they have 5 units still on their books for sale ,from memory around the 80k baht a sq metre .the units finish, is first class

a good morning to all

[iancnx]

It seems there are two threads running.

Take a look at http://www.thaivisa.com/forum/topic/749825-real-estate-bubble/page-8#entry8264813

where I just posted this excerpt........

................ Notwithstanding the recent overbuild of small studios, most condos can be rented relatively easy if the price is right. This market, in my view, only becomes a bubble if the oversupply is such that rental yields fall below financial viability. We are a long way from that provided the capital expenditure per sqm was under for example 45 baht per sqm.

It is a renters market for sure, but premium units fitted to expat standards will always be more attractive and will maintain yields. Thai owned shells furnished with crqp will always be cheaper. Buying at 70+ baht per sqm is barking mad at this point in time unless very rich speculators are taking a very long term view......................

[evenstevens]

It seems there are two threads running.

Take a look at http://www.thaivisa.com/forum/topic/749825-real-estate-bubble/page-8#entry8264813

where I just posted this excerpt........

................ . This market, in my view, only becomes a bubble if the oversupply is such that rental yields fall below financial viability. We are a long way from that provided the capital expenditure per sqm was under for example 45 baht per sqm.

It is a renters market for sure, . Buying at 70+ baht per sqm is barking mad at this point in time unless very rich speculators are taking a very long term view......................

think that u will find that the 45k per sq metre,has long gone.

the approx 70 k plus per sq metre appears the norm these days

( the above figures are for the higher end condos new etc etc)

agree with you 100 %in another post that getting in prior to 2013, is a huge winner ,for all rental investors and residency punters

the higher present prices have thrown a spanner in the works for rental investors, to securing high yeilds ,without taking into the account the forthcoming projects which will flood the markets into as over supply mode, , to my mind the bird has flown, for the forseeable future but J.M.O

[mccw]

If you know any new condos in the city centre under 60k per sqm I would be interested to hear of them.