LPN or Pruksa condo

[k2882]

Hello, I am thinking of buying a condo off-plan in BKK area as an investment. I understood that LPN and Pruksa usually build cheaper condos.

1. Does anyone know their level of after sales service - i.e. are their projects properly maintained over the years?

2. Are there relatively high re-sale and rental demand for LPN/Pruksa's condo?

Any opinions, advise, and comments are very welcome!

Thanks!

[trogers]

High resale or rental demand? Easily evident by the volume of advertising, the higher the volume, the lower the demand.

[Upset]

LPN is the best in terms of price points and after sales as they manage all the properties themselves. I have bought so many lpn condo projects as even the rental yields are great ...about 7 - 9 % returns.

Problem with LPN is that they always launch their new off plan projects to a selct few and very little media advertisisng and even, all that is in thai. Give you an example, for first phase of Onnut Soi 46 which was launched very quietly in January this year, for only blocks and C, the openning price for pre-sales started at Bt 790,000 for 22.5sqm. All the great units were snapped up in two days and after that , prices went up to Bt 880,000 which in the first week all were sold out. The units are now ready for take over. (9 months completion instead of the one year that they said). Current promotional prices for resale units are between 1,170,000 to the new listed price of Bt 1,300,000. Whereas phase two units for blocks A and B (already completed also) will be opened to the public in October starting at Bt 1,500,000 and phase 3, block E at Bt 1,600,000 for the same 22.5sqm. I own a lot of LPn properties ie Ramkhamheang 26 and 40, Pinklao, Rama4 etc....excellent management as LPN as a proper system plus there are strict with people who break rules ie littering in common areas etc.

Pruksa, seldom manages the condo after a sell out and leaves it to 3rd parties, always a mess. Simply see the LPN properties at Suthisarn, Saphan Kwai, Pinklao...even after years, the building exterior, common areas etc look great not the same for Pruksa and even Ideo which is in a diffrent price bracket but so badly managed.

Not sure that there is any new projects this year by LPN for new condo projects off plan though and units available in the current inventory are already too expensive. You have to keep a good look out. Their site in English is hopeless (deliberately done I think!)

[k2882]

LPN is the best in terms of price points and after sales as they manage all the properties themselves. I have bought so many lpn condo projects as even the rental yields are great ...about 7 - 9 % returns.

Problem with LPN is that they always launch their new off plan projects to a selct few and very little media advertisisng and even, all that is in thai. Give you an example, for first phase of Onnut Soi 46 which was launched very quietly in January this year, for only blocks and C, the openning price for pre-sales started at Bt 790,000 for 22.5sqm. All the great units were snapped up in two days and after that , prices went up to Bt 880,000 which in the first week all were sold out. The units are now ready for take over. (9 months completion instead of the one year that they said). Current promotional prices for resale units are between 1,170,000 to the new listed price of Bt 1,300,000. Whereas phase two units for blocks A and B (already completed also) will be opened to the public in October starting at Bt 1,500,000 and phase 3, block E at Bt 1,600,000 for the same 22.5sqm. I own a lot of LPn properties ie Ramkhamheang 26 and 40, Pinklao, Rama4 etc....excellent management as LPN as a proper system plus there are strict with people who break rules ie littering in common areas etc.

Pruksa, seldom manages the condo after a sell out and leaves it to 3rd parties, always a mess. Simply see the LPN properties at Suthisarn, Saphan Kwai, Pinklao...even after years, the building exterior, common areas etc look great not the same for Pruksa and even Ideo which is in a diffrent price bracket but so badly managed.

Not sure that there is any new projects this year by LPN for new condo projects off plan though and units available in the current inventory are already too expensive. You have to keep a good look out. Their site in English is hopeless (deliberately done I think!)

Hi Upset, many thanks for all the insights about LPN. Yes totally agree that their site in English is crap!

So the price for On Nut 46 literally doubled within this short period, never have thought of that. Just impossible even in France!

7-9% returns are pretty good! Are those 1 bedroom or the combined 2 bedrooms units, fully furnished? In this case, I presume that their condos can be rented out and resold easily .... Does LPN provide rental management service also? Have you heard of any upcoming new LPN projects early next year then? Thanks a lot again for all the advise and great that you are cashing out with high returns! lol

[trogers]

LPN is the best in terms of price points and after sales as they manage all the properties themselves. I have bought so many lpn condo projects as even the rental yields are great ...about 7 - 9 % returns.

Problem with LPN is that they always launch their new off plan projects to a selct few and very little media advertisisng and even, all that is in thai. Give you an example, for first phase of Onnut Soi 46 which was launched very quietly in January this year, for only blocks and C, the openning price for pre-sales started at Bt 790,000 for 22.5sqm. All the great units were snapped up in two days and after that , prices went up to Bt 880,000 which in the first week all were sold out. The units are now ready for take over. (9 months completion instead of the one year that they said). Current promotional prices for resale units are between 1,170,000 to the new listed price of Bt 1,300,000. Whereas phase two units for blocks A and B (already completed also) will be opened to the public in October starting at Bt 1,500,000 and phase 3, block E at Bt 1,600,000 for the same 22.5sqm. I own a lot of LPn properties ie Ramkhamheang 26 and 40, Pinklao, Rama4 etc....excellent management as LPN as a proper system plus there are strict with people who break rules ie littering in common areas etc.

Pruksa, seldom manages the condo after a sell out and leaves it to 3rd parties, always a mess. Simply see the LPN properties at Suthisarn, Saphan Kwai, Pinklao...even after years, the building exterior, common areas etc look great not the same for Pruksa and even Ideo which is in a diffrent price bracket but so badly managed.

Not sure that there is any new projects this year by LPN for new condo projects off plan though and units available in the current inventory are already too expensive. You have to keep a good look out. Their site in English is hopeless (deliberately done I think!)

Hi Upset, many thanks for all the insights about LPN. Yes totally agree that their site in English is crap!

So the price for On Nut 46 literally doubled within this short period, never have thought of that. Just impossible even in France!

7-9% returns are pretty good! Are those 1 bedroom or the combined 2 bedrooms units, fully furnished? In this case, I presume that their condos can be rented out and resold easily .... Does LPN provide rental management service also? Have you heard of any upcoming new LPN projects early next year then? Thanks a lot again for all the advise and great that you are cashing out with high returns! lol

Rental yield of 7-9% would depend on your purchase price. If the said yield is based on initial price, it would be halved when price is doubled.

[54321]

I have been very happy with lpn.

As said lpn manage the condo. Lpn usually have a 5 year gaurantee

Interestingly lpn in taling chan near pinklao have sold all their units and the foundations rant down yet. Agreed their website in English is poor. I am planning on selling a q house condo I bought (terrible) and will be buying the next lpn project I can get my hands on.

[casualbiker]

Dunno about Pruksa condominiums but the houses at the lower end (1-2 million) are badly made concrete boxes.. can't imagine the condo are better!