Bangkok Property Value

[Howard]

My wife owns two adjacent properties in a block of five in Lad Prao near Lad Prao Soi 68. They have five levels including the ground and are structurally sound but need to be fully renovated. She is thinking of selling them but has no idea what they are worth. Can anyone suggest the market value of them? Or a way of determining it?

Thanks, Howard

[krisb]

Can't a real estate agent or a bank value them

You could always do a search of properties in the area to get an idea also I suppose?

[i claudius]

Can't a real estate agent or a bank value them

You could always do a search of properties in the area to get an idea also I suppose?

then we wouldnt all know how rich his wife is and how lucky he is to be married to her

[Thaiberius]

Owning a property anywhere in the world you would use a bank or an estate agent. Why ask an internet discussion forum? I think I know the answer.

[HCB]

Do do know how old is the property ? How many m2? As i know some property near that place now advertise to sell of townhouse , 25 sqare wah, 3 bed rooms, 2 baht rooms want to sell 3.2 million baht, not included the transfering fee and also another taxes.

Edited January 2, 2015 by HCB

[pod8460]

Seems the way it's done in pattaya is this. Ask about 100% more than you think it's worth. Put in the add. No time wasters. Expect a visit from someone pretending to be interested who will turn out to be a agent who has interested clients wanting to buy in the building or area. When signed up he will never be seen again. If you get someone interested and gives you a offer, play hardball and refuse to negotiate. Stick to your price and wait. Like most of the propertys I have seen you will have the joy of remaining the owners for many years to come.

good luck . Or you could find out what a bank would loan on the property.

[Howard]

Thanks to those who provided useful answers. Back in Oz I would know in a heartbeat an approximate value for a property in the area I live but only visiting here I have no idea of local values and it seemed turning to the forum was a good first step. My wife had indicated that real estate agents are not normally used so that was out. Seems from the posts the bank valuation would be the best.

By the way, the property is on Lad Prao Road.

And to those who provided useless comments please don't devalue the good work this forum does.

Regards, Howard

[Suradit69]

Seems the way it's done in pattaya is this. Ask about 100% more than you think it's worth. Put in the add. No time wasters. Expect a visit from someone pretending to be interested who will turn out to be a agent who has interested clients wanting to buy in the building or area. When signed up he will never be seen again. If you get someone interested and gives you a offer, play hardball and refuse to negotiate. Stick to your price and wait. Like most of the propertys I have seen you will have the joy of remaining the owners for many years to come.

good luck . Or you could find out what a bank would loan on the property.

"Like most of the propertys I have seen you will have the joy of remaining the owners for many years to come."

There seems to be an odd farang view that if you own something worth Baht one million and sell it quickly for half that, that you're being quite clever, but if you price it at Baht 1,500,000 and wait a few years until someone meets your asking price, that's silly. Panic selling at a discount to the value you set on the property or patiently waiting for the return on investment you want ... golly that's a tough choice.

Maybe applied farang financial expertise explains the collapse of the real estate market in the US and why the European economy is flirting with another recession. Group photo of financial experts below.

[Thaiberius]

I'm prepared to get shouted down but to me the Thai housing market appears to be fundamentally flawed. I know possibly 50 or 60 farangs who have bought condo's/apartments etc over the past 13 years or so. I honestly don't know one who has managed to sell at a profit. The new condo market seems to be buoyant if what I see in Bangkok and Hua Hin is representative and true. However, the used market appears to be flat. A representative price for an outer Bangkok condo starts at around 3-6m with finance easily available along with packages including furniture, guaranteed rentals etc etc. Why buy a used apartment/condo for the same amount? The market to me seems to be built on sand.