The PP Condo gang - this place worth a try?

[Mcffee]

I see many advertisements about PP Condo, very affordable and some of the rooms seems to have really nice designs and creative dealing with a small space, I like that. Outside the building looks dirty and unattractive and the location seems so-so, although lots of trees that provide oxygen. Are this rooms popular amongst westerners, and if you been there what do you think? I'm not in Thailand so can't go look by myself just checking the ads on various websites and everywhere I see PP coming back, which cached my interest and the price is also right for me.

Thanks.

[mamborobert]

Personally I would give them a big miss. There has, as you have pointed out been a fair few places jazzed up rather than refurbished per se. In the end you can polish a turd but it is still a turd. There are a lot newer and nicer places on the market (including location wise), to me these are cheap places being "flipped" at a premium to the lower end of the faring market. Same for some refits at SR. condo as well.

If you could afford not to stay there....you would'nt stay there.

Edit...do a forum search as these places have been mentioned a few times as "investments" and the like.

Edited March 3, 2015 by mamborobert

[Beng]

Looks like they are attractive to westerners,

[Mcffee]

Personally I would give them a big miss. There has, as you have pointed out been a fair few places jazzed up rather than refurbished per se. In the end you can polish a turd but it is still a turd. There are a lot newer and nicer places on the market (including location wise), to me these are cheap places being "flipped" at a premium to the lower end of the faring market. Same for some refits at SR. condo as well.

If you could afford not to stay there....you would'nt stay there.

Edit...do a forum search as these places have been mentioned a few times as "investments" and the like.

Good information, thanks.

Guess the problem is lack of a commission of owners who decide together to upgrade the place on the outside, like you see everywhere. And usually in this section of the market locals living inside like filthy rats and couldn't care less about the outside.

Although some owners did a good improvement job.

[mamborobert]

Not sure you could rely that the nicer ones had "owners", as posted most have been bought cheap had a quick fashionable "update" and then put back on the market for a few hundred thousand more than bought. Something you could do yourself with time etc but the acid thing here is that they are are now the best house in the worse street. Theses and Sr are flipped quickly on cosmetics for a sizeable mark up that you could not do on a lot of other condos because of their initial price point and potential end market.

These places capitalise on someone not having enough money to get a decent place and then producing this flashy bargain in compared to what they never could have afforded in the first place....so it seems a good deal...but in the end the complex is not convenient, is a dump, and is a long way from gentrification still.

I do not think the calibre of Thai owners there give a rats about updating. The place is a low rental or temporary residence for Thais not an investment or lifestyle ideal.

Edited March 3, 2015 by mamborobert

[beau thai]

Actually very few have been 'put back on the market'

I think more than 50 have had the total renovation, quite a few westerners live there, and there are not many unoccupied rooms as rents are cheap. But It doesnt look attractive outside and two of the 6 blocks-A&B- are to be avoided in my view. (Mostly unrenovated and cheap and a bit 'edgy').

But once inside your room does it matter that the outside is less than glamorous? Not to me, but it may bother some, who will choose to live elsewhere.

There is a new indoor Badminton Facility adjacent, and a well used Muay Thai Gym.

You need transport to live there, but pretty easy into the city on a motorbike.

[bangmai]

I think the poster, who recently bought 2 units at Nimman soi 11 for 900K made a somewhat better buy. I assume you are writing about buying. PP was a good buy at 250K, but not really at 650K, even with no stuff inside. The main thing is location. If you were renting, there are many better locations; quite a few of which are fine to be car/bikeless. What is your budget? How many SM do you require?

[Mcffee]

I think the poster, who recently bought 2 units at Nimman soi 11 for 900K made a somewhat better buy. I assume you are writing about buying. PP was a good buy at 250K, but not really at 650K, even with no stuff inside. The main thing is location. If you were renting, there are many better locations; quite a few of which are fine to be car/bikeless. What is your budget? How many SM do you require?

Thinking of 6-12 months rent actually, eventually I buy to renovate and resell but not there, must be more centrally located not in the middle of nowhere.

[beau thai]

Imho, buying to renovate in this market, with an uncertain horizon, has more downside than upside.

And more so if you pay the premium to be closer into the City.

But, whatever, best of luck with your plans.

[bangmai]

Don't buy what you wouldn't consider living in yourself. There are many apartments behind CMU under 5000 per month, quite a few under 4000....much better location than PP, and land values reflect it. I paid about 20K psm....about a third of the cost of new, and I'm in a more strategic location. There's really not a lot for sale in the good locations. I went to a neighboring building of 150 units...zero for sale. Looked like one that was about a paint job away from being pretty nice. Rentals are cheap. It almost seems like a stalemate between buyers and sellers. If you really want to buy; it's going to cost a little more, but if you want to sell; you will have to take a little less.

[WorkingTourist]

Actually very few have been 'put back on the market'

I don’t think people are “flipping” them per se. Most buy, renovate, and then try to rent them out to westerners.

Searching for PP condo the cheapest I found, which isn’t really renovated, is 4,000 THB/month: http://www.olx.co.th/product-100741721

Searching instead for พีพีคอนโด and we find this unit at 2,000 THB/month: http://www.olx.co.th/product-7805867

This tells me two things, 1) you pay a premium if you want an english speaking landlord (no surprise there really), and 2) majority of your neighbors probably pay 1-2,000 THB/month. This is cheap even for thais, so that should give you an idea of what sort of types this building attracts.

But once inside your room does it matter that the outside is less than glamorous? Not to me, but it may bother some, who will choose to live elsewhere.

I have visited a few old buildings, and I think I would be a little sad by living in such a place. You do see the surroundings each time you enter and leave, you do see them if you look out your window, although often these places have depressingly small windows that have never been cleaned so maybe you don’t see that much In some buildings you can hear all your neighbors, and your neighbors might like to play morlum music on bad speakers whenever they have the chance, and/or have loud arguments, you may notice the lack of water pressure because there is no pump, just gravity, if you have an issue, it may take forever for the juristic person to do something about it, etc.

[stigvinck]

Maybe the residents of PP can give their opinion? I doubt that any of the posters (positive or negative) has ever lived there. If so please correct me.

By the way if most of them were sold for a few 100k profit then I'd be laughing now... More like a few 10k...

[bangmai]

There are still pockets of NPL cheapies for sale in BKK, if you look at the bank websites...like 200-300K...similar in size and style to PP. A friend paid 280K at Ekami soi 33 about 5 years ago. Now he's got the airport link right behind his building. Kind of a dump, but he is happy there, and it is super convenient.

[balo]

Can I ask a question ?

What is the nicest condo in Chiang Mai with rental for 1 year contract under 10000 ? Location is not that important.

[Mcffee]

Can I ask a question ?

What is the nicest condo in Chiang Mai with rental for 1 year contract under 10000 ? Location is not that important.

This one at Tha Phae Rd Soi 2 is nice, forgot the name. I stayed there around half year.

edit: the name is Veerachai Court www.veerachaicourt.com I found this a very pleasant place to stay, it includes a very good minimart.

Edited March 3, 2015 by Mcffee

[balo]

That place looks more like a hotel to me or serviced apartment. I would like to find a normal condo , not too old building , with a simple kitchen for cooking under 10k. Not hard to find here in Pattaya. I'm thinking about moving to CM.

[Mcffee]

That place looks more like a hotel to me or serviced apartment. I would like to find a normal condo , not too old building , with a simple kitchen for cooking under 10k. Not hard to find here in Pattaya. I'm thinking about moving to CM.

Check

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[balo]

Yes I know I can search , just wanted to check if any TV members in CM can recommend something,