Real Estate Bubble

[AnotherOneAmerican]

Just out of curiosity - if anyone knows, how much does it cost per m2 to build in C.M.? (Not a condo but a house or a town house).

Building cost is about 4-5k per m2.

(Including basic fittings and floorings)

Then add the land price.

I paid 8,250 bht/M2 for a 2 storey house, but the developer profit would have been 40-50% of that price.

Edited August 25, 2014 by AnotherOneAmerican

[evenstevens]

Just out of curiosity - if anyone knows, how much does it cost per m2 to build in C.M.? (Not a condo but a house or a town house).

Building cost is about 4-5k per m2.

(Including basic fittings and floorings)

Then add the land price.

I paid 8,250 bht/M2 for a 2 storey house, but the developer profit would have been 40-50% of that price.

yes, but u have bought, and living in a aboringnal humpy, or in aboringnal terms, a gunyah

Edited August 25, 2014 by evenstevens

[cmsally]

Just out of curiosity - if anyone knows, how much does it cost per m2 to build in C.M.? (Not a condo but a house or a town house).

Building cost is about 4-5k per m2.

(Including basic fittings and floorings)

Then add the land price.

I paid 8,250 bht/M2 for a 2 storey house, but the developer profit would have been 40-50% of that price.

yes, but u are living in a aboringnal humpy, or in aboringnal terms, a gunyah

Hey, new words for the day - humpy and gunyah - didn't know those!

[cheeryble]

Just out of curiosity - if anyone knows, how much does it cost per m2 to build in C.M.? (Not a condo but a house or a town house).

Building cost is about 4-5k per m2.

(Including basic fittings and floorings)

Then add the land price.

I paid 8,250 bht/M2 for a 2 storey house, but the developer profit would have been 40-50% of that price.

You may be able to put up soemthing for 4-5k/sqm but a well finished but modest house will not be done for less than about 8k/sqm all in....and that's with great care probably buying materials yourself.

Sent from my iPad using ThaiVisa app

[JesseFrank]

Just out of curiosity - if anyone knows, how much does it cost per m2 to build in C.M.? (Not a condo but a house or a town house).

Building cost is about 4-5k per m2.

(Including basic fittings and floorings)

Then add the land price.

I paid 8,250 bht/M2 for a 2 storey house, but the developer profit would have been 40-50% of that price.

At the prices you mention, may I assume you're talking about a built about 20 years ago ?

[AnotherOneAmerican]

Just out of curiosity - if anyone knows, how much does it cost per m2 to build in C.M.? (Not a condo but a house or a town house).

Building cost is about 4-5k per m2.

(Including basic fittings and floorings)

Then add the land price.

I paid 8,250 bht/M2 for a 2 storey house, but the developer profit would have been 40-50% of that price.

You may be able to put up soemthing for 4-5k/sqm but a well finished but modest house will not be done for less than about 8k/sqm all in....and that's with great care probably buying materials yourself.

Nope, I purchased the finished 3 bed, 3 shower house from KKN.

600k for the land, 1M2 for the house.

They are still selling all over CM for similar prices.

Edited August 25, 2014 by AnotherOneAmerican

[Thighlander]

I actually think townhouses are the way to go.......that is in a better location, like the old city or Nimman. If you are buying with your wife or company, of course. At a certain point, walking WILL become popular in Thailand's larger cities. It may not even take 60 thb per liter gas.....motorbikes use so little...it might just be the gridlock is so terrible, that people settle for no yard for the convenience. Some of the coolest home patio areas I've ever seen, were rooftops. You can garden up there, too. Townhouses can have a lot of space, often more than homes....not good if you can't do the stairs though.

[elektrified]

Just out of curiosity - if anyone knows, how much does it cost per m2 to build in C.M.? (Not a condo but a house or a town house).

Building cost is about 4-5k per m2.

(Including basic fittings and floorings)

Then add the land price.

I paid 8,250 bht/M2 for a 2 storey house, but the developer profit would have been 40-50% of that price.

You may be able to put up soemthing for 4-5k/sqm but a well finished but modest house will not be done for less than about 8k/sqm all in....and that's with great care probably buying materials yourself.

Sent from my iPad using ThaiVisa app

O.K. so about 8K per m2 and that is with me buying the cabinetry, toilets, sinks, tiles, doors, hardware, electrical, landscaping, etc. What does the 8K include? Concrete? Lumber? Roofing? Anything?

I'm only interested in the cost of building, not the land. The g/f has a couple of empty lots not being used that are available to me.

[cheeryble]

Just out of curiosity - if anyone knows, how much does it cost per m2 to build in C.M.? (Not a condo but a house or a town house).

Building cost is about 4-5k per m2.

(Including basic fittings and floorings)

Then add the land price.

I paid 8,250 bht/M2 for a 2 storey house, but the developer profit would have been 40-50% of that price.

You may be able to put up soemthing for 4-5k/sqm but a well finished but modest house will not be done for less than about 8k/sqm all in....and that's with great care probably buying materials yourself.

Sent from my iPad using ThaiVisa app

O.K. so about 8K per m2 and that is with me buying the cabinetry, toilets, sinks, tiles, doors, hardware, electrical, landscaping, etc. What does the 8K include? Concrete? Lumber? Roofing? Anything?

I'm only interested in the cost of building, not the land. The g/f has a couple of empty lots not being used that are available to me.

No….

8k/sqm can include all that stuff except landscaping as the houses i know built for that price have little extra land just a bit all round.

But it can include a wall, something for bringing in elec, and a small borehole.

We're not talking about a Smallbone kitchen here, but built of concrete and brick and tiled with pre made double doors set in.

But we are talking about say rectified tiles @ 300bt/sqm not the ultimate but not junk.

What I meant was you do the buying yourself to save money, but materials are included in the 8k.

(I'll add that i think these cheap "DIY" kitchens don't have to look tacky, amazing what you can do with concrete or brick and perhaps large rectified tiles on top.

Premade drawer sets and double unit doors for the front could perhaps be sprayed with polyurethane high gloss paint by the local car spray guy and look stunning.

I once made worktops for a whole kitchen from half the old bar top from the famous Chelsea Potter pub in London when they renovated there…..bought that great piece of aged mahogany years ago for I think it was 7 pounds to the builder guys it would probably cost the best part of a grand to order now.)

Edited August 25, 2014 by cheeryble

[WillG]

Hi Cheeryble

I compare this as top notch conversions in better older buildings are still under 45,000/sqm.
This is a complete step up in quality even from Nimmana at 90,000.
Talking teak or marble floors, granite tops, teak builtin furniture, top stainless fittings, full Panasonic electrics etc etc.
Add to this the better olde buildings generally have the best locations whereas those above are crammed between other buildings with various degrees of in attractiveness.

Perhaps you missed my post regarding your previous post above

Are you able to give some examples of the older buildings with these conversions as I am interested in a reasonable quality condo but like you I feel that the 70k+ condos on the market at the moment are, shall I say, a bit shoddy for that type of money and a bit too far out. Yes these older buildings would mostly be in a better location as long as the general upkeep of the building is up to scratch

[elektrified]

Building cost is about 4-5k per m2.

(Including basic fittings and floorings)

Then add the land price.

I paid 8,250 bht/M2 for a 2 storey house, but the developer profit would have been 40-50% of that price.

You may be able to put up soemthing for 4-5k/sqm but a well finished but modest house will not be done for less than about 8k/sqm all in....and that's with great care probably buying materials yourself.

Sent from my iPad using ThaiVisa app

O.K. so about 8K per m2 and that is with me buying the cabinetry, toilets, sinks, tiles, doors, hardware, electrical, landscaping, etc. What does the 8K include? Concrete? Lumber? Roofing? Anything?

I'm only interested in the cost of building, not the land. The g/f has a couple of empty lots not being used that are available to me.

No….

8k/sqm can include all that stuff except landscaping as the houses i know built for that price have little extra land just a bit all round.

But it can include a wall, something for bringing in elec, and a small borehole.

We're not talking about a Smallbone kitchen here, but built of concrete and brick and tiled with pre made double doors set in.

But we are talking about say rectified tiles @ 300bt/sqm not the ultimate but not junk.

What I meant was you do the buying yourself to save money, but materials are included in the 8k.

(I'll add that i think these cheap "DIY" kitchens don't have to look tacky, amazing what you can do with concrete or brick and perhaps large rectified tiles on top.

Premade drawer sets and double unit doors for the front could perhaps be sprayed with polyurethane high gloss paint by the local car spray guy and look stunning.

I once made worktops for a whole kitchen from half the old bar top from the famous Chelsea Potter pub in London when they renovated there…..bought that great piece of aged mahogany years ago for I think it was 7 pounds to the builder guys it would probably cost the best part of a grand to order now.)

Thank you very much for your extremely helpful information. Much appreciated. Cheers,

[cheeryble]

Thanks for the very nice thanks!

[jobin]

Who / what is KKN?

[AnotherOneAmerican]

Who / what is KKN?

http://www.kkn.co.th/

[jobin]

Found a few english headlines at the site so only marginally useful for non-thai readers. Pretty pix.

Is your place 'pre-fab' or 'cast in place'?

How long are in you in it now? If longer than 6 months, any remarks on construction quality, or function?

[AnotherOneAmerican]

Found a few english headlines at the site so only marginally useful for non-thai readers. Pretty pix.

Is your place 'pre-fab' or 'cast in place'?

How long are in you in it now? If longer than 6 months, any remarks on construction quality, or function?

If you use Chrome, a right click on the page will allow it to translate to English.

(Not a bad translation either)

Mine is cast, been in about 11 months, pretty good so far.

A few cracks in the plaster appeared, which they came filled and repainted.

The builders are a bit strange, keep repainting bits on the outside, this morning a man was painting my fence.

I've seen a lot worse traditional constructions.

Edited August 27, 2014 by AnotherOneAmerican

[hotsoup]

Wife bought land in San Sai 1n 1997 for 1m. Built a detached house on it for c.1.5m.

Christmas last year asked the bank to loan 2m for a business. Bank lent her 2m on the basis of the value of the land; which says something about the increase in land value. Said the house was basically worthless!!

Also Thais don't like to buy 2nd hand houses!

[beau thai]

Wife bought land in San Sai 1n 1997 for 1m. Built a detached house on it for c.1.5m.

Christmas last year asked the bank to loan 2m for a business. Bank lent her 2m on the basis of the value of the land; which says something about the increase in land value. Said the house was basically worthless!!

Also Thais don't like to buy 2nd hand houses!

Or it may say something about the Banks getting way too many people over their head with easy credit- not your wife, but they just havent learned lessons of credit crashes, and so many thai now struggle to make repayments and live day to day.

And car dealers etc suffer because so many can not take new loans as already stuffed up with old ones they cant service.

But after that little rant, yes I am sure that land in San Sai has appreciated in the last 17 years- maybe even beyond inflation?

[jingjoke]

Sorry: what's "1n"? How many Talang Wah/ Rai?

Wife bought land in San Sai 1n 1997 for 1m. Built a detached house on it for c.1.5m.
Christmas last year asked the bank to loan 2m for a business. Bank lent her 2m on the basis of the value of the land; which says something about the increase in land value. Said the house was basically worthless!!
Also Thais don't like to buy 2nd hand houses!

[lannarebirth]

Usually in a bubble prices (bid) are rising rapidly, credit is easy and there is a high rate of speculative turnover. That doesn't seem to be happening in CM now. There is however apparently considerable investment in projects that would seem to make little economic sense but IMO that is cash desperately looking for a laundry.

Not exactly the topic at hand but often forgotten are the many outstanding benefits of ownership (even in the FFF group!) outside of the purely economic aspects being discussed here.

FFF group?

My good friend Google suggest - Friends, Family and Fools

Thanks. I got Foods Fats & Fertilisers Ltd

I assumed he meant "floats, flies or f... ".