Condo in Bangkok - To buy or not to buy?

[wilbuengkan]

On Saturday, September 24, 2016 at 9:31 AM, blackcab said:

 

Out of intetest, what did you pay and what are you being offered?

I will concede that I overpaid for the unit.

1.3 million baht paid.

750,000 bath offer.

[alohame]

On Friday, September 23, 2016 at 9:47 PM, Cinderella Man said:

I totally don't understand your "pay it off in 5 years for the same cash as renting"

 

I'm sort of a real estate junkie - checking out condos, apartments, houses is what I often do to just to relax. I've worked as a real estate agent in Europe for couple of years and lived in several different countries where I know the market just from my "relax" research.

 

I don't see in any way how buying in Bangkok is a good investment. Unless it's a sh*t hole needing full reconstruction in a very old building with decent location and renting out via AirBnB to tourists.

 

My condo for example is one of the more/most luxurious at Asoke area... Still ton of units not sold and mine 1 bed is 6.5M ... I rent it for 25k = would take me almost 22 years to pay if off in a dream world where I wouldn't have to pay interest + number of fees.

 

Not far away another condo is building up - just literately couple of meters from an older condo. Guess what - people in the older condo with now decent view will look to a concrete soon.

 

Imo it is really really stupid to buy in Bangkok - sure, often you can still make nice profit, but the odds are against you and the upside is limited.

 

22 years sounds a bit too much, so I was wondering what would be the figure for China. Apartment price rent ratio in major Chinese cities nowadays lies between 80 to 100 normally, and there is no pool or gym. 22 really isn't too bad. I'm not sure about Vietnam, but I guess it would be even worse.

[trogers]

15 hours ago, alohame said:

 

22 years sounds a bit too much, so I was wondering what would be the figure for China. Apartment price rent ratio in major Chinese cities nowadays lies between 80 to 100 normally, and there is no pool or gym. 22 really isn't too bad. I'm not sure about Vietnam, but I guess it would be even worse.

 

Why would you compare closed economies with Bangkok?

 

Their governments control money supply, exchange rates, interest rates and manipulate the stock market. Their people have no where else to store wealth.

 

On 09/27/2016 at 3:52 PM, jamesbrock said:

 

[carlyai]

To the OP.

There is place called Pitak Court, next to the Malasia Hotel, in soi Attakarn Prasit.

Very central.

I rented there years ago, but I did hear, a while ago, that some of the units were for sale or long term lease.

I may not be correct.

You could go to the office and ask for Sue, she is the manager still.

See what she has to say......or tell her what you want and she may be able to help you.

If you go round the back, near the swimming pool there are units, but as Sue.

If it's like where my son stays in Bang Naa, you can buy (think it may be a 30 year lease) a couple of small onebedroom, next to each other and have a reasonable unit, after you do it up.

Sent from my SM-J700F using Tapatalk

[alohame]

On Friday, October 28, 2016 at 8:17 AM, trogers said:

 

Why would you compare closed economies with Bangkok?

 

Their governments control money supply, exchange rates, interest rates and manipulate the stock market. Their people have no where else to store wealth.

 

 

 

If you compare other major cities in the world, you probably won't get any better than that. For instance, inner city Sydney, price rent ratio is 22+, of course if you compare the price household income ratio, these asian countries would be way much higher.

 

I'm not saying it's acceptable, I really hate high property price.

[trogers]

10 minutes ago, alohame said:

 

If you compare other major cities in the world, you probably won't get any better than that. For instance, inner city Sydney, price rent ratio is 22+, of course if you compare the price household income ratio, these asian countries would be way much higher.

 

I'm not saying it's acceptable, I really hate high property price.

 

Asking prices of new projects in Bangkok give a higher ratio of 24-25, while pre-yr2000 properties give ratios of 15-18.