The Bangkok Condo Market in 2016: It's all about Luxury and Foreign Buyers

[snoop1130]

The Bangkok Condo Market in 2016: It's all about Luxury and Foreign Buyers
Sukhumvit News

BANGKOK -- In an otherwise lacklustre condominium market, Bangkok’s luxury sector is feeling pretty hot right now.

While demand for condos and purchasing power in the mass market at the end of 2015 was lower than expected, the luxury market has emerged as the one to watch, according to a new report from Colliers.

Many luxury condos are due to be launched this year, particularly in the city and Sukhumvit areas. Sukhumvit Sois 21 to 55 are right at the epicentre of this high-end development blitz with many unit starting prices expected to reach over ฿200,000 (US$5,600) per square metre.

As is to be expected, premium properties in Bangkok are generally found along the existing mass transit lines of the BTS and MRT. Many developers are also exploring their options along the proposed mass transit line extensions too, and we can expect much growth in these areas as the extensions come to fruition.

Full Story: http://whatsonsukhumvit.com/the-bangkok-condo-market-in-2016-its-all-about-luxury-and-foreign-buyers/

-- (c) What's on Sukhumvit 2016-02-12

[Thian]

You can buy a great villa in a moobaan for that amount. And they can also be close to the bts.

[NeverSure]

^^^You can buy a nice home in the USA including the land under it for that amount. Not in every area of course but in many, many nice areas.

What are people thinking?

[NeverSure]

Look at these homes for sale in Phoenix, Arizona, USA as an example. They appear to cost about 1/2 what the OP units cost and they include the land which you'd actually own.

LINK

They are also outfitted with first world amenities such as garages and openers, central heat and aircon, fully Western kitchens and bathrooms, construction and insulation up to code and inspected during construction...

Foreigners can own these houses. No wonder more Americans who have a couple of dollars to rub together don't move to Thailand.

"Rent, don't buy in Thailand."

Cheers.

Edited February 12, 2016 by NeverSure

[Rocketsurgeon]

Phoenix market is due for another tumble. Reason might still be a bargain as its nit come back from the last disaster. Then there is the heat, traffic. It's not at all a pleasant place and economy anaemic.

Then there are issues, serious issues with water. Only a fool would buy a home in a desert without a deep well.

[Ghostmanthai]

To be comparative look as housing in Miami or LA rather then the sticks in Phoenix. While its an alright city it is far from a hub in the USA. Bangkok for what its worth is major center for Thailand much as Miami and or LA. The later mentioned 3 also have more appeasing climates where Phoenix deals in extremes, crazy hot and dry or dry and cold. And I for one would rather live in Thailand over the USA any day. In fact its why I choose to do so. And If a garage is a first world amenity then an African grass hut with a garage is first world? Why would anyone want one in Thailand, it would serve no purpose. That would be like a Thai saying America is third world and dirty because it does not have the first world amenity's of a bum gun in the toilet. On another note I agree about only renting here as the rent is way cheaper than looking at the cost of purchasing.

[JimHuaHin]

Foreign buyers?

How many foreign buyers in Thailand are going to pay that price? Maybe some multinational business and foreign government groups in Krung Thep.

But most of us farang living in Thailand could not afford these prices.

The developers are in la la land.

[mike324]

People are comparing apples to oranges. Try comparing condos in a big city. Thailand was relative cheap for high end condos 5+ year ago, truth be told it still is for those who can afford it. Penthouse units are around $5-7 million. You won't find it for that price in big citiesi n the west.

I would say the average price of high end condos have already exceeded 200,000 baht / square meter since two years ago.

[OMGImInPattaya]

"Foreign buyers," what foreign buyers...the Chinese with their cratering economy, or the Russians, with the Ruble a pile of rubble and oil at $25 a barrel, the Japanese, they haven't been a factor for decades, the Europeans...with both their politics and economy on the skids, maybe the Brazilians...they were touted only a few years ago as a rising superpower...oh, their currency is at lows for the decade. It looks like you're stuck with us Americans and our Mighty Dollar...throw in a lifetime visa or permanent residency with every condo purchase and we'll take a few off your hands.

[user82374298374]

My guess is that a non-trivial proportion of all these high-end condos being built are intended to serve as a way to legitimize money obtained through unconventional means.

[Thian]

My guess is that a non-trivial proportion of all these high-end condos being built are intended to serve as a way to legitimize money obtained through unconventional means.

That's also what i'm thinking.

Who wants to buy a condo there to live in permanently? It is some kind of investment to stash the money for a while. You even can't work in Thailand as a farang.

And why is this forum only about the USA lately? It is about Thailand and it seems the americans here have nothing else to add then info about the USA. I wonder how many really live in BKK.

[wabothai]

All major cities in the world are expensive. What is the point? Check out condo prices in Paris.

[mascarabertha]

Look at these homes for sale in Phoenix, Arizona, USA as an example. They appear to cost about 1/2 what the OP units cost and they include the land which you'd actually own.

LINK

They are also outfitted with first world amenities such as garages and openers, central heat and aircon, fully Western kitchens and bathrooms, construction and insulation up to code and inspected during construction...

Foreigners can own these houses. No wonder more Americans who have a couple of dollars to rub together don't move to Thailand.

"Rent, don't buy in Thailand."

Cheers.

what could I have been thinking. thank god I read your posting. screw bangkok I'm moving to Phoenix.

[shirtless]

Just where are the buyers 2016 i fear will end in many bankruptcies .

[elgordo38]

^^^You can buy a nice home in the USA including the land under it for that amount. Not in every area of course but in many, many nice areas.

What are people thinking?

Obviously not with their brains. Then their is all the talk on TV of shoddy construction and the land sinking. If your going to buy buy on the top floors and make sure you get a free canoe with paddles and 2 life jackets.

[Thian]

All major cities in the world are expensive. What is the point? Check out condo prices in Paris.

Paris has great terraces, sidewalks, quality restaurants, musea, viewpoints,climate, canalboats, culture,history, police, firebrigade. They also can't speak english though.

All that you'll have to miss in BKK.

[mcfish]

Look at these homes for sale in Phoenix, Arizona, USA as an example. They appear to cost about 1/2 what the OP units cost and they include the land which you'd actually own.

LINK

They are also outfitted with first world amenities such as garages and openers, central heat and aircon, fully Western kitchens and bathrooms, construction and insulation up to code and inspected during construction...

Foreigners can own these houses. No wonder more Americans who have a couple of dollars to rub together don't move to Thailand.

"Rent, don't buy in Thailand."

Cheers.

what could I have been thinking. thank god I read your posting. screw bangkok I'm moving to Phoenix.

He doesn't doesn't know what he is talking about

. those places in phoenix dropped 70% in value, it Was because of the sub prime disaster but that does not make them cheap, just brought them back to the real value and they ain't going up anytime soon. TV posters were saying rent here and buy home and did there <deleted> back in 2008.. Dummies

Sent from my SC-01D using Tapatalk

[Thian]

Rent dont buy in thailand???

And use those stupid thai kitchens every day? Or the crappy bathrooms/furniture/gardens?

I didn't see those condo's but if they don't have a nice big roofterrace i'm out...A big roofterrace without mosquito's and a small pool/jacuzzi plus some tree's/bbq would be awesome..They have them in Jomtien as well.

But condo's with a real roofterrace are very rare.

[seank]

Colliers must know something secret, as no one I know whats to buy in Bangkok, 5000 a square meter, its not good value at that price

[Ghostnigel]

"Foreign buyers," what foreign buyers...the Chinese with their cratering economy, or the Russians, with the Ruble a pile of rubble and oil at $25 a barrel, the Japanese, they haven't been a factor for decades, the Europeans...with both their politics and economy on the skids, maybe the Brazilians...they were touted only a few years ago as a rising superpower...oh, their currency is at lows for the decade. It looks like you're stuck with us Americans and our Mighty Dollar...throw in a lifetime visa or permanent residency with every condo purchase and we'll take a few off your hands.

a little arrogant aren't you? Listen everybody, America is coming to save us all, praise be.

i know some americans that were crying in their beer a year ago, now your 'mighty' dollar has gone up a couple of baht, they are now strutting around like freakin peacocks...you aren't the only people with money mate, sheesh.

[thailiban2]

If you compare Bangkok against major cities in the world, it still represents good value. http://www.globalpropertyguide.com/most-expensive-cities

[HooHaa]

^^^You can buy a nice home in the USA including the land under it for that amount. Not in every area of course but in many, many nice areas.

What are people thinking?

People are thinking they don't want to live in the US.

[Lumbini]

I went to look into Nimit Langsuan

THB 26,500,000 & Up and was shocked as the construction just started near where I live now and I find out that out of 180 units being built only 10 are left , everything else is already pre sold . Amazing how hot top residential condos are now and how they are snapped up even before built . This building will be finished in 2018 but is weeks away from being sold out and then one must buy from someone who already bought and pay even more of a premium . I watched same thing happen at the 185 building a few blocks away . Location location

Edited February 14, 2016 by Lumbini

[Lumbini]

53 stories high [emoji102]

[Thian]

ImageUploadedByThaivisa Connect1455477134.479507.jpg

53 stories high [emoji102]

I don't believe that they are almost sold out. It's just a trick to push you into buying one.

And if they are sold they will be for sale again very soon, you'll see.

I see very small balcony's with a glass wall....i wouldn't sit there at night.

[wordchild]

I went to look into Nimit Langsuan

THB 26,500,000 & Up and was shocked as the construction just started near where I live now and I find out that out of 180 units being built only 10 are left , everything else is already pre sold . Amazing how hot top residential condos are now and how they are snapped up even before built . This building will be finished in 2018 but is weeks away from being sold out and then one must buy from someone who already bought and pay even more of a premium . I watched same thing happen at the 185 building a few blocks away . Location location

ImageUploadedByThaivisa Connect1455476943.595843.jpg

i think its true they did sell quite a number of the units very quickly. The developer is well regarded and the location (freehold just off Langsuan) was a big selling point. Also they launched the project last year when the market was still ok. I suspect, as is normal, the developer will have held back a number of units hoping to sell nearer completion at higher prices. my sense is the market for top-end condos has got quite alot tougher since they launched (and largly pre-sold) this project. The economy is quite poor and the market is getting saturated, i suspect that projects launching this year in this price range will struggle to sell as easily. I have heard that Q Sukhumvit (next to Nana BTS) is really struggling to make sales; not really a surprise as 300000 bt plus psm looks rich for that area.

Edited February 15, 2016 by wordchild

[smutcakes]

ImageUploadedByThaivisa Connect1455477134.479507.jpg

53 stories high [emoji102]

I don't believe that they are almost sold out. It's just a trick to push you into buying one.

And if they are sold they will be for sale again very soon, you'll see.

I see very small balcony's with a glass wall....i wouldn't sit there at night.

Why do you comment with so much certainty when you are obviosuly so lacking in knowlegde in this area?

They are just about sold out. The majhority of the buyers have been Thai purchasers. It is an exclusive and desirable place to live. It is one of the only Condominium's in that area which is freehold, which makes it more desirable.

Most Thai's dont need to sit on a balcony, and i dare say for many farangs the novetly would soon wear off.

And as for people talking about Phoenix, and someone saying Farang's cannot work in Thailand, well its better to just leave those comments......

[OMGImInPattaya]

All major cities in the world are expensive. What is the point? Check out condo prices in Paris.

Paris has great terraces, sidewalks, quality restaurants, musea, viewpoints,climate, canalboats, culture,history, police, firebrigade. They also can't speak english though.

All that you'll have to miss in BKK.

Which all mean absolutely nothing to the average Thai, who is more concerned that there is a good somtum or noodle vendor on the corner of their block.

[Thian]

All major cities in the world are expensive. What is the point? Check out condo prices in Paris.

Paris has great terraces, sidewalks, quality restaurants, musea, viewpoints,climate, canalboats, culture,history, police, firebrigade. They also can't speak english though.

All that you'll have to miss in BKK.

Which all mean absolutely nothing to the average Thai, who is more concerned that there is a good somtum or noodle vendor on the corner of their block.

The point is that Paris has much more to offer for the money, hence the high prices there.

And luxury condo's in BKK will have roomservice or at least an inhouse restaurant i would think. Or they will call deliveryservices.

Never believe Thai salespeople, i just don't believe sold out when nothing is built yet, no matter where it is. There are always people buying to sell it with profit, that's happening all over BKK.

There also will be several who sell soon because they can't afford it or just don't like it.

If i wanted to buy a condo downtown i would go for a view and clean air (riverside) and connected to the bts.

[bigt3116]

Foreign buyers?

How many foreign buyers in Thailand are going to pay that price? Maybe some multinational business and foreign government groups in Krung Thep.

But most of us farang living in Thailand could not afford these prices.

The developers are in la la land.

Did you mean Western caucasian? Or, as I suspect, you meant foreigner.