Property values in Thailand defies logic

[Garysenior67]

i won't name the specific property, but there is a condo for sale at thb 3,295,000. It claims to 34 sq meters (about 366 sq ft). Long story short, it works to out to be approx. $212/sq ft. This Thailand not Holmby Hills, in Los Angeles, Ca. or some other similar city in the west. They claim highest building standards etc., etc.,but really? I have seen no evidence of a standard building code in Thailand. It seems to me that to buy any property in Thailand would be a huge risk for a variety of reasons, not limited to the above i.e. ownership, inheritance and so forth. Why endure all the hassles?

[palm]

96,000 baht a square metre is actually quite cheap. A new condo in my street starts at 180,000 b sq/m not due for completion until 2018; and far cheaper than London, Melbourne or New York prices.

[NeverSure]

^^^ He said $212 per square foot, not meter. No it isn't London but labor is so much cheaper in LOS as would be material. You could buy that condo in a less expensive area of the US for less money than that and it would be first world standards surrounded by first world infrastructure.

HERE is a condo in Dallas Texas for 1.5 million baht. That's $41 per square foot all in with two real American bathrooms and a real kitchen. No it isn't fancy at all and yes it's lower end but IMHO all of Thailand is lower end and down from there.

I would never buy property in LOS. End of.

[Misterwhisper]

34 square meters is not a condo, it's a shoe box, and a grossly over-priced one for that. Stay clear!

[elgordo38]

34 square meters is not a condo, it's a shoe box, and a grossly over-priced one for that. Stay clear!

Do yourself the biggest favor in the world and rent. If something goes wrong you pack up and move. I have noticed here that things can be good in a condo unit one day and lousy the next. You have to consider would you be able to resell it in a reasonable amount of time and also the political situation should definitely be considered before spending any money and lastly I have seen the quality of construction here and it does not impress me with my rudimentary knowledge of building but for the sake disclosure I watched one building go up around me at 600 square metres and it was a real mess. The roof leaked gallons on one side during the rainy season while the contractor was working on the other side. This family was totally screwed by the contractor. Maybe Google condo horror stories and also read about the Ace condo fiasco. Good luck in buying.

[Deserted]

What does this have to do with family and children? Did you post in the right section I wonder?

[WorriedNoodle]

^^^ He said $212 per square foot, not meter.

The reply never mentioned 212/m2 but 96,000THB/m2??

One thing I've noticed "in all my years here" is that even as prices and designs have an obscene modern look about them, the quality is still rubbish and built by low paid labor.

[silverado]

defies logic ??? yess

but i believe you speak about Bangkok , pukhet , pattaya, samui and cm... thailand is more than this holes shit maffias tourists areas.... you can built a house for 15.000/20.000 thb in a village lost in the middle of the rice fields.... one of those small villages that are mostly real thailand and certainly more real thailand than the cities mentionned above... make tour choice ! but don't come complain ....

[FRIDAYMe]

Hi

Yes, buying property in Thailand might be a risk ,but property is not a small asset. In my opinion, I think buying property any where also a risk not only Thailand. Buying a condominium in Thailand as a foreigner is the easiest method to invest in real estate. Due to the 1979 Thailand Condominium Act, foreigners can own condominiums anywhere in Thailand 100% outright, as long as the building has not already sold its 49% foreign quota. Each condominium in Thailand when registering with the land department designates 49% of its units for sale for potential purchase by a non-Thai buyer.the systems do in fact work and the savvy expat or foreign investor can and regularly does successfully buy and sell real estate in Thailand. Foreigners have been buying real estate in Thailand regularly for the last three decades and more and more invest in Thai real estate each year. This would not be possible if foreigners were being consistently ‘cheated' out of their money by the laws of the land.

[Garysenior67]

Hate to burst any bubbles, but buying property in Thailand is a losing proposition all the way around...period. Think about it people!,,

[Chewbacka]

Many new condo projects on the West Coast of Phuket are coming in at over 100,000 THB per sqm however, projects that are in land a bit or are a few years old can be picked up for 60,000 - 80,0000 THB per sqm.

Many, many people have made and continue to make money investing in condos but in my opinion buyers need to be very selective as not everyone makes money.

I found this link to the latest Condo prices in Phuket