Today's condos, tomorrow's ghettos?

[krisb]

For those of you that own a nice condo in a nice building, do you worry they will become tomorrow's run down ghettos?

Just wondering. ...

[CharlieH]

MOVED to Housing

[Costas2008]

If they keep spending money on maintenance it shouldn't become a ghetto.

House or Condo if you don't maintain it properly it will become a derelict.

[peterb17]

Ghetto-part or area of a city where minority groups live- usually because of ethnic or socio- economic reasons.

Yes I worry about groups of impoverished Brits, their income having collapsed due to currency fluctuations . Paint peeling, stinking lifts, rats, not even able to afford the 99baht breakfasts.

What on earth on you on about??

[krisb]

If they keep spending money on maintenance it shouldn't become a ghetto.

House or Condo if you don't maintain it properly it will become a derelict.

True Costas, but at least a house you only have to worry about it yourself.

[IMHO]

Ghetto-part or area of a city where minority groups live- usually because of ethnic or socio- economic reasons.

Yes I worry about groups of impoverished Brits, their income having collapsed due to currency fluctuations . Paint peeling, stinking lifts, rats, not even able to afford the 99baht breakfasts.

What on earth on you on about??

Not sure what the OP is asking, but it sure sounds like you are describing a condo complex with a "View of the Sea"

[krisb]

Ghetto-part or area of a city where minority groups live- usually because of ethnic or socio- economic reasons.

Yes I worry about groups of impoverished Brits, their income having collapsed due to currency fluctuations . Paint peeling, stinking lifts, rats, not even able to afford the 99baht breakfasts.

What on earth on you on about??

Reworded would be tomorrow's run down old condos.

Plenty around the place.

[Crazy chef 1]

If they keep spending money on maintenance it shouldn't become a ghetto.

House or Condo if you don't maintain it properly it will become a derelict.

but you know the Thai(owner) habit in regards of maintenance...

[krisb]

If they keep spending money on maintenance it shouldn't become a ghetto.

House or Condo if you don't maintain it properly it will become a derelict.

but you know the Thai(owner) habit in regards of maintenance...

Exactly.

I was looking at condos for sale and saw run down dumps for 600k.

Made me wonder if these nice new buildings will be these 600k condos in 10 years?

[Crazy chef 1]

If they keep spending money on maintenance it shouldn't become a ghetto.

House or Condo if you don't maintain it properly it will become a derelict.

but you know the Thai(owner) habit in regards of maintenance...

Exactly.

I was looking at condos for sale and saw run down dumps for 600k.

Made me wonder if these nice new buildings will be these 600k condos in 10 years?

by law they have to be Thai owned though no chance-lucky if they are 200k worth in 10 years...

just as an example my next neighbor a high ranked army dude bought his brand new house 1.5 years ago-now it looks already like a rubbish dump...but three big cars...

[Rancid]

Older Thai condos do tend to get run down, presumably to a lack of maintenance money, either not paid or pilfered.

However it does take a while so probably plenty of years left in a new building. Of course moobaans can also suffer the same fate, sure we've all seen a few of those as well.

[JingerBen]

If they keep spending money on maintenance it shouldn't become a ghetto.

House or Condo if you don't maintain it properly it will become a derelict.

but you know the Thai(owner) habit in regards of maintenance...

Quite true...

And the other side of the coin is the type of low-life people that may move in if the place becomes run down.

[jcisco]

If they keep spending money on maintenance it shouldn't become a ghetto.

House or Condo if you don't maintain it properly it will become a derelict.

but you know the Thai(owner) habit in regards of maintenance...

Quite true...

And the other side of the coin is the type of low-life people that may move in if the place becomes run down.

I think that is the point of which ghetto becomes applicable?

[i claudius]

If they keep spending money on maintenance it shouldn't become a ghetto.

House or Condo if you don't maintain it properly it will become a derelict.

but you know the Thai(owner) habit in regards of maintenance...

Exactly.

I was looking at condos for sale and saw run down dumps for 600k.

Made me wonder if these nice new buildings will be these 600k condos in 10 years?

by law they have to be Thai owned though no chance-lucky if they are 200k worth in 10 years...

just as an example my next neighbor a high ranked army dude bought his brand new house 1.5 years ago-now it looks already like a rubbish dump...but three big cars...

We have one of those in our street .loads of cash ,but does nothing to take care of his garden or the street outside his house.

[dbrenn]

If they keep spending money on maintenance it shouldn't become a ghetto.

House or Condo if you don't maintain it properly it will become a derelict.

but you know the Thai(owner) habit in regards of maintenance...

Exactly.

I was looking at condos for sale and saw run down dumps for 600k.

Made me wonder if these nice new buildings will be these 600k condos in 10 years?

Floraville at the corner of Pattanakn and Sri Nakharin is a good example.

Built in the late 90's it was grand when it opened - four towers surrounding a resort style pool area, with restaurant, gym and all the trimmings of the executive life.

Fast forward to 2013, the last time I saw it. The restaurant was closed, the pool was green, the gym was closed, and the place was an absolute shambles.

The problem with a lot of new condos is that they are bought by speculators, and when the price doesn't go up they default and also stop paying the 'suan glang' fees that support the management company and fund maintenance of the common areas. Next thing that happens is the management company quits the place and leaves it to go to the dogs.

The buyer should beware of all those glossy marketing brochures for new places. Far better to buy a unit is a well established building, where more of the units are occupied by real people, rather than speculators.

[trogers]

If they keep spending money on maintenance it shouldn't become a ghetto.

House or Condo if you don't maintain it properly it will become a derelict.

but you know the Thai(owner) habit in regards of maintenance...

Exactly.

I was looking at condos for sale and saw run down dumps for 600k.

Made me wonder if these nice new buildings will be these 600k condos in 10 years?

Floraville at the corner of Pattanakn and Sri Nakharin is a good example.

Built in the late 90's it was grand when it opened - four towers surrounding a resort style pool area, with restaurant, gym and all the trimmings of the executive life.

Fast forward to 2013, the last time I saw it. The restaurant was closed, the pool was green, the gym was closed, and the place was an absolute shambles.

The problem with a lot of new condos is that they are bought by speculators, and when the price doesn't go up they default and also stop paying the 'suan glang' fees that support the management company and fund maintenance of the common areas. Next thing that happens is the management company quits the place and leaves it to go to the dogs.

The buyer should beware of all those glossy marketing brochures for new places. Far better to buy a unit is a well established building, where more of the units are occupied by real people, rather than speculators.

All boils down to location. Well located projects would be in demand by tenants and even stingy or speculative owners would wise up through example.

I buy into old condos, refurbish them and rent them out. Old 2-bedrm units where renting out at Bt25k and 3-bedrm at Bt32k before I bought into it.

When the other owners saw my refurbished 2-bedrm renting out at Bt45k and 3-bedrm at Bt55k, they became interested in upgrading their units and approving upgrades to the common areas.

But as I have said, only well located old condos can follow this path.

[gandalf12]

I used to have a couple of condos in Jomtien and you could see the signs. At first everyone paid the maintenance fee which wasnt expensive but over a few years there were a significant number, mostly but not exclusively Thai's who hadnt paid for a year or more.

We moved to a house at that point. No idea what the condo we were in is like now but I would guess not as good as it should have been

[matman]

Nirun Condo Pattaya - Enough Said !!

[bazza40]

A lot of condos and houses are built to Thai building standards, which may mean in 15 - 20 years the concrete is cracking, the pipes are leaking, paint is peeling etc. All depends on how many corners were cut by the builder - there's a 5 storey condo built about 3 years ago in Chiang Mai which has a foundation consisting of 1 metre of concrete, no pilings. Could be interesting if we have an earthquake in CM.

Anyway, the original post is one of the reasons I will continue renting in preference to buying, even though I can afford it.

[elgordo38]

I live in a condo in Chiang Mai good location maybe 22 yrs. old. Its is well maintained and remodellers (curse them for the noise) at work all the time. People are still buying in here even though the building is older. I do rent as I am not a big believer in buying Thai real estate of any sort.

[Minnehaha]

Bought a condo in an older building in good location because I like 140 square meters of space. New ones are all tiny and over priced. If they are large and well located then the new ones are ridiculously priced.

Get on the board. Find like minded people. Move slowly and with purpose. Make a difference.

Now we have a nicer building. We renovated the downstairs, let owners paint and decorate hallways and put art up.

Its nice.

[dotpoom]

Ghetto-part or area of a city where minority groups live- usually because of ethnic or socio- economic reasons.

Yes I worry about groups of impoverished Brits, their income having collapsed due to currency fluctuations . Paint peeling, stinking lifts, rats, not even able to afford the 99baht breakfasts.

What on earth on you on about??

And holes in the soles of the flip-flops....you forgot to mention that.

Edited March 21, 2015 by dotpoom

[krisb]

If they keep spending money on maintenance it shouldn't become a ghetto.

House or Condo if you don't maintain it properly it will become a derelict.

True Costas, but at least a house you only have to worry about it yourself.

Is English your 2nd language??

Do you need it in troll language?

[krisb]

Bought a condo in an older building in good location because I like 140 square meters of space. New ones are all tiny and over priced. If they are large and well located then the new ones are ridiculously priced.

Get on the board. Find like minded people. Move slowly and with purpose. Make a difference.

Now we have a nicer building. We renovated the downstairs, let owners paint and decorate hallways and put art up.

Its nice.

140 squares in a condo is fantastic! Well done.

[krisb]

Nirun Condo Pattaya - Enough Said !!

I've got no idea about that condo block sorry.

[newnative]

It's no guarantee but I would buy a condo built by one of the large, respected, publically traded, Bangkok builders--Sansiri, Lumpini, SC Asset, Supalai, etc. They are in the business of building and, more importantly, selling condos. We used to live in a condo in Pattaya built by a private owner and they owned so many unsold units that they could control the condo board and the budget since they could outvote everyone--and they did. Not a good situation. Suggestions for improvements went in one ear and out the other. Richer than God and really not that concerned as to whether they ever sold the unsold condos or not. I'd avoid a family operation like that. A condo that has a hotel component with a respected hotel like Marriot or Amari might also be a consideration as they might maintain things better.

[Tassie Norm]

Simple, travel around this amazing land. Find a good woman - assuming you are a good man - and you will be condominiun-less. Age dependent, go bush ,but not so far you and your bride cannot have a social life. Crikey, all up to the individual. Think man! What do you want/expect out of the the rest of your life? After writing this I made a fundamental presumption. You were me. Sorry, my unknown friend.

[Lostpack3t]

In my experience it comes down to the management of the condo. I personally stay away from Thai company managed condos. Those managed by foreign companies with a demonstrated history do the job well and I have little concerns. Those managed by Thai companies, well there are just too many stories whereby the money is never recovered or not allocated to repair and maintenance as described.

Just my 2 cents and observations over the past 4 years living in condos myself.

[Asiantravel]

Simple, travel around this amazing land. Find a good woman - assuming you are a good man - and you will be condominiun-less. Age dependent, go bush ,but not so far you and your bride cannot have a social life. Crikey, all up to the individual. Think man! What do you want/expect out of the the rest of your life? After writing this I made a fundamental presumption. You were me. Sorry, my unknown friend.

" Find a good woman - assuming you are a good man - and you will be condominiun-less."

But there's more than a few farang on this forum that will tell you they did just that and found themselves not only condominium- less but shortly after cash-less too

Edited March 21, 2015 by Asiantravel

[Nick167]

Be careful.....I am but a single poor guy in my forties(thai who was educated overseas and worked overseas and am of mixed ethnicity)....I cannot afford the typical middle-class condos that go for about 4 million baht upwards so I decided to buy three units of 22.5(one was 26sqm) sqm condo units at lumpini onnut 46 to convert them into one single big unit. I transferred my unit in September 2014, paid in cash (each was about Bt 920,000 as I took the 7th floor) with all my savings,spent another 2.2 million baht getting the best electrical furnishings, built-ins, curtains, etc ie OLED Curved Tvs, etc. I was so proud of my dwelling which was fully paid for ie no bank loans or morgages) which was a total of 71sqm, with three bathrooms, a living and dinning area, three rooms and three balconies.

Now only six months on, I am regretting and crying everyday.....the main small lobby area where the lifts are , are so filthy. The common corridors are also filthy, and the local garbage that stay here are so noisy and live like pigs. i am ashamed to be have thai blood and really I learn one thing, never help the poor thais....they can never change. The managemnet only sit in the offices and for them, such standards are acceptable!

Never buy condos oe even cheap moo bans, you will suffer and regret later.