The Booming Rental Market in CM.

[LivinLOS]

>>Bedsit is an English word to describe a bedroom and sitting room combined, the description gives no clue to the type of building, or where the bathroom, toilet or kitchen is situated.<<

You are wrong on that .Bedsit as known in London where i lived for many years ,was a single room with shared toilet /Bathroom .Sometimes the room had a small cooking facility ,other times a shared kitchen....English is my first language even though i am Irish .

We always used bedsit to apply to places with a private bathroom..

Similar to 'studio apartment' in other terminology..

Thats UK speak I remember.

[WorkingTourist]

Peaks Avenue is still a partial construction site, as two floors are incomplete, nonetheless all completed units seems to be occupied and they charge 60.000 baht/month for a two bedroom (90-120 sq.m.).

There might be coming a lot of units onto the market, but if you’re after more than a bedsit and want to live centrally without being under the flight path then your options are very limited.

[flare]

>>Bedsit is an English word to describe a bedroom and sitting room combined, the description gives no clue to the type of building, or where the bathroom, toilet or kitchen is situated.<<

You are wrong on that .Bedsit as known in London where i lived for many years ,was a single room with shared toilet /Bathroom .Sometimes the room had a small cooking facility ,other times a shared kitchen....English is my first language even though i am Irish .

We always used bedsit to apply to places with a private bathroom..

Similar to 'studio apartment' in other terminology..

Thats UK speak I remember.

I always thought bedsit was the equivalent of an SRO (single-room occupancy- usually situated in very low-income areas- if you've ever seen 'Barfly', Mickey Rourke's character [based on Charles Bukowski] lived in one) type of apartment, which usually means a shared bathroom, and the US and UK both used studio (apartment/flat) to mean a single room containing a sleeping, sitting, and cooking area that included a private bathroom. Perhaps the definition is a bit broader than that. It's like 'mansion'- in the US it means a large, expensive home with extensive grounds- in Japan it's used for apartment/condo, and in Thailand it's any house at all with a fence around it.

[Oscar2]

i'm always shocked when i hear of (and thank god rarely ever see) a dwelling where an adult Westerner in Thailand lives in a single room with no separate bedroom and no separate kitchen, only a single room. students in State or junior colleges in the USA or students in Europe don't even live to such low standards. how could anyone ever live that way?

[theguyfromanotherforum]

i'm always shocked when i hear of (and thank god rarely ever see) a dwelling where an adult Westerner in Thailand lives in a single room with no separate bedroom and no separate kitchen, only a single room. students in State or junior colleges in the USA or students in Europe don't even live to such low standards. how could anyone ever live that way?

I can only offer a guess that would apply in my case.

Since everything in Thailand is built to extremely low standards, I would rather live in a new small space than in a mansion that was build 10 years ago.

Mold, water leeks, dangerous wiring, gas kitchen and plenty other funny things that I didn't even have to deal with in Serbia even 40 years ago rears it's ugly head in Thailand. So, yes, I would live in a newer small place that will at least offer me some illusion of comfort and safety than something bigger which in Thailand usually just means old and unsafe.... and I say this even as I am living rent free in my wife's townhouse that has all the western amenities (but it's old).

The question could also be asked why so many Westerners choose to live in a country with such low standards where life is not valued at all regardless of space one chooses to live in?

Edited March 20, 2016 by theguyfromanotherforum

[balo]

I am looking for 4-5000 baht condo with AC and balcony in CM , 6 months contract or more , someone mentioned near KSK, can anyone send me a link so I can find it online, names etc ? I am not familiar with the area , thanks.

ahhh the guy who cheered and threw a party when the innocent Burmese were convicted. don't bother coming...

Thank you for the nice welcome.

I am looking for information and hope someone can provide it.

[MaeJoMTB]

Poster sounds like everyone needs to rush to Chiang Mai and buy a condo... then rent it out for profit.

I bet there are tons of empties...and only a few condo owners get positive gains...over and above their mortgages, condo fees, maintenance and management costs.

Here's your first mistake.

If you need a mortgage, to buy in Thailand.

Do not buy in Thailand.

How many foreign condo owners in CM do you think got out a mortgage to buy one?

Thailand is an unstable totalitarian regime.

Thai women are a bad long term risk (if you want a house).

Why risk my money when I can risk the banks money?

You'd have to be daft to use your own money.

[anto]

i'm always shocked when i hear of (and thank god rarely ever see) a dwelling where an adult Westerner in Thailand lives in a single room with no separate bedroom and no separate kitchen, only a single room. students in State or junior colleges in the USA or students in Europe don't even live to such low standards. how could anyone ever live that way.

Bedsits as i defy them still common in London i believe ,are far worse ,as you dont even have your own shower/toilet and must share one. Property prices in London are close to the highest in the World so thats all many with ordinary jobs can afford .

As regards Studio Condos in Thailand .I lived /owned one for several years down in Jomtien /Pattaya .It was 30 sq meter with a small balcony .As i was living alone at the time i found it very adequate ,especially as the common area included two large pools ,a gym ,shops and restaurants and the beach was just across the road on the other side .

[TheSiemReaper]

Life I've lived in two bedsits in my life; one in Leeds, one in Leicester.

The one in Leeds had a private kitchen but a shared bathroom facility. It was a large "sports center" style bathroom with 3 shower cubicles. It was perfectly OK.

The one in Leicester had a shared kitchen (with one other couple) and a shared bathroom (with one other couple) - it was one of the most luxurious places I have ever lived in. In a converted Mews building in the most desirable part of town with great security, etc.

Bedsits don't have to be awful at all. They are, however, cheaper than apartments because of the shared facilities. The bright side is that the shared areas tend to be cleaned by the landlord's representative... saving you on cleaning costs (time and/or money) too.

[invex]

MaeJoMTb are you a troll?

Not one Thai bank will give a "farang" money to buy a condo, not even one satang. So you do need the cash.

If you get some money from the bank for whatever reason, you in particular do not have to pay it back anymore? Most people pay the principal and interest on a regular basis even if they fail to spent it wise. Which bank you are working with that takes over my risks? Introduce me with the manager please.

Poster sounds like everyone needs to rush to Chiang Mai and buy a condo... then rent it out for profit.

I bet there are tons of empties...and only a few condo owners get positive gains...over and above their mortgages, condo fees, maintenance and management costs.

Here's your first mistake.
If you need a mortgage, to buy in Thailand.
Do not buy in Thailand.
How many foreign condo owners in CM do you think got out a mortgage to buy one?

Thailand is an unstable totalitarian regime.
Thai women are a bad long term risk (if you want a house).

Why risk my money when I can risk the banks money?
You'd have to be daft to use your own money.

[MaeJoMTB]

Not one Thai bank will give a "farang" money to buy a condo, not even one satang. So you do need the cash.

If you get some money from the bank for whatever reason, you in particular do not have to pay it back anymore? Most people pay the principal and interest on a regular basis even if they fail to spent it wise. Which bank you are working with that takes over my risks? Introduce me with the manager please.

My wife is Thai, Thais get easy credit from banks.

It's her house, it's her loan, it's her risk.

I can walk away.

I only make the repayments while I'm happy and living in it.

[mesquite]

i'm always shocked when i hear of (and thank god rarely ever see) a dwelling where an adult Westerner in Thailand lives in a single room with no separate bedroom and no separate kitchen, only a single room. students in State or junior colleges in the USA or students in Europe don't even live to such low standards. how could anyone ever live that way?

I can only offer a guess that would apply in my case.

Since everything in Thailand is built to extremely low standards, I would rather live in a new small space than in a mansion that was build 10 years ago.

Mold, water leeks, dangerous wiring, gas kitchen and plenty other funny things that I didn't even have to deal with in Serbia even 40 years ago rears it's ugly head in Thailand. So, yes, I would live in a newer small place that will at least offer me some illusion of comfort and safety than something bigger which in Thailand usually just means old and unsafe.... and I say this even as I am living rent free in my wife's townhouse that has all the western amenities (but it's old).

The question could also be asked why so many Westerners choose to live in a country with such low standards where life is not valued at all regardless of space one chooses to live in?

Answer: Pussy

[Happy Grumpy]

Poster sounds like everyone needs to rush to Chiang Mai and buy a condo... then rent it out for profit.

I bet there are tons of empties...and only a few condo owners get positive gains...over and above their mortgages, condo fees, maintenance and management costs.

Here's your first mistake.

If you need a mortgage, to buy in Thailand.

Do not buy in Thailand.

How many foreign condo owners in CM do you think got out a mortgage to buy one?

Thailand is an unstable totalitarian regime.

Thai women are a bad long term risk (if you want a house).

Why risk my money when I can risk the banks money?

You'd have to be daft to use your own money.

If you consider the price of a condo here as 'money', return to the start and try again.

[Happy Grumpy]

Not one Thai bank will give a "farang" money to buy a condo, not even one satang. So you do need the cash.

If you get some money from the bank for whatever reason, you in particular do not have to pay it back anymore? Most people pay the principal and interest on a regular basis even if they fail to spent it wise. Which bank you are working with that takes over my risks? Introduce me with the manager please.

My wife is Thai, Thais get easy credit from banks.

It's her house, it's her loan, it's her risk.

I can walk away.

I only make the repayments while I'm happy and living in it.

So, instead of buying yourself a condo with cash, you opted to buy somebody else a condo with monthly payments.

Okay, gotcha. That is a much better option.

[mesquite]

Not one Thai bank will give a "farang" money to buy a condo, not even one satang. So you do need the cash.

If you get some money from the bank for whatever reason, you in particular do not have to pay it back anymore? Most people pay the principal and interest on a regular basis even if they fail to spent it wise. Which bank you are working with that takes over my risks? Introduce me with the manager please.

My wife is Thai, Thais get easy credit from banks.

It's her house, it's her loan, it's her risk.

I can walk away.

I only make the repayments while I'm happy and living in it.

Should be mandatory reading for all male farangs showing up in LOS for the first time.

[mascarabertha]

MaeJoMTb are you a troll?

Not one Thai bank will give a "farang" money to buy a condo, not even one satang. So you do need the cash.

absolute baloney. a Canadian friend of mine obtained two mortgages with Thai bank for purchases in hua him and in Pattaya

If you get some money from the bank for whatever reason, you in particular do not have to pay it back anymore? Most people pay the principal and interest on a regular basis even if they fail to spent it wise. Which bank you are working with that takes over my risks? Introduce me with the manager please.

Poster sounds like everyone needs to rush to Chiang Mai and buy a condo... then rent it out for profit.

I bet there are tons of empties...and only a few condo owners get positive gains...over and above their mortgages, condo fees, maintenance and management costs.

Here's your first mistake.

If you need a mortgage, to buy in Thailand.

Do not buy in Thailand.

How many foreign condo owners in CM do you think got out a mortgage to buy one?

Thailand is an unstable totalitarian regime.

Thai women are a bad long term risk (if you want a house).

Why risk my money when I can risk the banks money?

You'd have to be daft to use your own money.

[LannaGuy]

quality condos in good locations always rent out and the cheapskate brigade 5-15k have got their market, the middle of the road their 15-25k market and the people who want quality their 25k+ market and those three segments are completely different

[TheSiemReaper]

Life I've lived in two bedsits in my life; one in Leeds, one in Leicester.

The one in Leeds had a private kitchen but a shared bathroom facility. It was a large "sports center" style bathroom with 3 shower cubicles. It was perfectly OK.

The one in Leicester had a shared kitchen (with one other couple) and a shared bathroom (with one other couple) - it was one of the most luxurious places I have ever lived in. In a converted Mews building in the most desirable part of town with great security, etc.

just because it was the most luxurious that you ever lived doesn't mean that I wasn't slum standards

Bedsits don't have to be awful at all. They are, however, cheaper than apartments because of the shared facilities. The bright side is that the shared areas tend to be cleaned by the landlord's representative... saving you on cleaning costs (time and/or money) too.

Nice try troll.

[uptheos]

I am looking for 4-5000 baht condo with AC and balcony in CM , 6 months contract or more , someone mentioned near KSK, can anyone send me a link so I can find it online, names etc ? I am not familiar with the area , thanks.

Wiang Inn Mansion on Santisuk Rd. Tel: 0-5340-6226-7.

Run by a really nice lady named Amporn.

Nice clean furnished rooms for 3,000-3,500 baht. use air con if you want

You can eat downstairs or in your room for 25/30 baht

Five minutes walk from the 'haa yaak' and ten minutes from KSK

I love Santitham at night, I loved it more 25 years ago but I still think it's a really neat area.

If I didn't have my own house, I'd move back to that area in a heartbeat.

[anto]

Life I've lived in two bedsits in my life; one in Leeds, one in Leicester.

The one in Leeds had a private kitchen but a shared bathroom facility. It was a large "sports center" style bathroom with 3 shower cubicles. It was perfectly OK.

The one in Leicester had a shared kitchen (with one other couple) and a shared bathroom (with one other couple) - it was one of the most luxurious places I have ever lived in. In a converted Mews building in the most desirable part of town with great security, etc.

just because it was the most luxurious that you ever lived doesn't mean that I wasn't slum standards

Bedsits don't have to be awful at all. They are, however, cheaper than apartments because of the shared facilities. The bright side is that the shared areas tend to be cleaned by the landlord's representative... saving you on cleaning costs (time and/or money) too.

Nice try troll.

>>Bedsits don't have to be awful at all. They are, however, cheaper than apartments because of the shared facilities. <<..What he says here is correct .I had a bed sit myself in a large Victorian house in Highgate ,one of the most exclusive areas of North London .I had one small room with a sink and microwave .The shower/toilet i shared with 3 other bedsits in the house .

[balo]

I am looking for 4-5000 baht condo with AC and balcony in CM , 6 months contract or more , someone mentioned near KSK, can anyone send me a link so I can find it online, names etc ? I am not familiar with the area , thanks.

Wiang Inn Mansion on Santisuk Rd. Tel: 0-5340-6226-7.

Run by a really nice lady named Amporn.

Nice clean furnished rooms for 3,000-3,500 baht. use air con if you want

You can eat downstairs or in your room for 25/30 baht

Five minutes walk from the 'haa yaak' and ten minutes from KSK

I love Santitham at night, I loved it more 25 years ago but I still think it's a really neat area.

If I didn't have my own house, I'd move back to that area in a heartbeat.

That sounds more like it , will have a look around when I arrive for a week , so that place is on my list.

[Happy Grumpy]

Nice clean furnished rooms for 3,000-3,500 baht. use air con if you want

You can eat downstairs or in your room for 25/30 baht

Wow.

[uptheos]

Nice clean furnished rooms for 3,000-3,500 baht. use air con if you want

You can eat downstairs or in your room for 25/30 baht

Wow.

Around santitham there are a lot of places, it's just a matter of doing the leg work.

The trouble with people who haven't been here long and haven't bothered to explore, is that they have no idea what is available and how cheap. The place I mentioned has a nice lobby area and a kitchen that cooks OK simple food for 25/30 baht. As the owner lives there the place is fairly quiet, clean and well run. There is a parking lot too. I think electricity is charged at 7 baht now, but if a fan's OK it doesn't cost a lot and yes the owner is broad minded if you happen to stumble back with 'a guest', after all this is still santitham.

I think I had some of the best times of my life in that area, but in those days places were open all night.

[stament]

yawn, as usual quality posts are few and far between and too many posts are of a one upmansh nature which doesnt interest me.

Im outta this thread as what started off a little interesting has very quickly deteriorated.

thanks for the useful posts some of you.

[condo bought]

Booked with deposit paid to hold until available.

13% roi.

[theguyfromanotherforum]

Booked with deposit paid to hold until available.

13% roi.

Suuuree

[condo bought]

yup. surprised me too.

The market above the 5k p/m shoeboxes with pleather sofas and laminated chipboard furniture is obviously well in demand.

[theguyfromanotherforum]

Someone tells me 13 roi in this environment (not necessarily a condo environment) I take it as direct insult to my intelligence.

Read scam.

[Happy Grumpy]

Mrs HG bought a unit in CM recently as she is there on business for 2-3 days maybe twice a month.

The cost of renovating it with non - cr@p furniture (real wood and not laminated chipboard, decent material sofa and not a pleather one) really was quite cheap.

Can see the same units being rented for 10% of what she paid buying and renovating it.

[WorkingTourist]

Booked with deposit paid to hold until available.

13% roi.

How can you be sure of a 13% ROI when you have only booked the condo?

Would you mind sharing your numbers (acquisition price, expected rental price, expected occupancy rate, common area fees, management fee (if you are going through agent), and size of unit in sq.m.).

I’m considering buying a (new) condo myself, but my estimate is a ROI slightly below 5%, depends on how much of a discount I can get when I buy the unit.