Is 1 Million Baht condo near upcoming BTS a steal?

[Thaidude]

So my girlfriend wants to buy a condo for herself on loan and she found a nice condo which is around 500 metres from upcoming BTS(They are constructing it). Its a new building costing 1 million THB for around 30 Sqm. Is it worth buying there or are there many other properties at that price range in bangkok which i should look after?

[smutcakes]

Sounds a decent deal on the face of it. You don't get much for 33,000 baht sqm these days.

 

Would run your eyes over it to check it is what it seems (i.e the 1 million is not the deposit), and that the developer has some kind of track record. However at 1 million baht its worth a punt. I am presuming its in an outer area at that price.

[trogers]

Off plan or construction completed? Off plan is too high a risk as present market sees unsold units near to 50%.

 

Compare prices of completed projects in a 3 km radius.

[Jimbo2014]

If its an investment and a 33-40 SQM apartment you should get anywhere from 4500 - 8000 THB per month rent but you will have refurbishment hassles, annual condo building bills, periods of no tenant and no pay etc...  Be wary of gluts in the market - every di6k and his dog are building apartments near the new BTS.  They take a long time to fill now.

Edited February 22, 2017 by Jimbo2014

[xtof2]

Completed  or not. It's a very good deal. Just check if the developer is reliable.

[Crossy]

Which BTS?

 

And how long are you prepared to wait for said BTS to begin operation?

[blackcab]

Why is she buying? To be closer to work? Her family lives close by and this will give her a bit of independence? Because the price will rise when the BTS is finished and she will sell it for a profit?

 

Is she paying or are you paying?

[Destiny1990]

Would not buy it offplan.if she plans to live in it herself than buying is probably better instead of renting it.

[realenglish1]

It sounds like a good deal Deposit with the government plan so you do not lose money if the builder goes belly up

[mike324]

I would say 1 million baht is a good price, in fact its getting hard to find 1 million baht condos that are located close to BTS. But again, where in Bangkok?

[trogers]

34 minutes ago, mike324 said:

I would say 1 million baht is a good price, in fact its getting hard to find 1 million baht condos that are located close to BTS. But again, where in Bangkok?

Doubt it is even in Bangkok...?

 

Probably in a neighbouring province.

[natway09]

Do your own checklist.  I would need to ask another 30 questions before could answer you.

 You have a brain do you not?

[Thaidude]

23 hours ago, trogers said:

Off plan or construction completed? Off plan is too high a risk as present market sees unsold units near to 50%.

 

Compare prices of completed projects in a 3 km radius.

 

8 hours ago, xtof2 said:

Completed  or not. It's a very good deal. Just check if the developer is reliable.

Yes its completed. They got 100k or so condos. They just got studios there. No 1 bedroom. Only con is there is no gym there

7 hours ago, Crossy said:

Which BTS?

 

And how long are you prepared to wait for said BTS to begin operation?

Not sure about the name of the BTS but i can see that they are nearly done with making the depot. I just have to pay like 30 baht for bike as its a bit inside to reach there. 500 metres . Infact they got a MRT line too

7 hours ago, blackcab said:

Why is she buying? To be closer to work? Her family lives close by and this will give her a bit of independence? Because the price will rise when the BTS is finished and she will sell it for a profit?

 

Is she paying or are you paying?

Well she doesnt have mom or dad. Just step sister and she plans to move out and stay independently. She cant stay there as step sister has a family now(Recently married). Right now she plans to rent for next few years(probably 3 years) until she moves to my country so we were thinking it would be a wise choice for her to buy so we can have a place to stay here in bangkok whenever we visit.

She will be paying. I will probably help her after few years down the line for the loan

 

6 hours ago, Destiny1990 said:

Would not buy it offplan.if she plans to live in it herself than buying is probably better instead of renting it.

Everything is ready and we have the plans too.

 

3 hours ago, mike324 said:

 

3 hours ago, trogers said:

Doubt it is even in Bangkok...?

 

Probably in a neighbouring province.

Its in bangkok, confirmed. Probably 20 mins via Taxi from where i stay.

1 hour ago, natway09 said:

Do your own checklist.  I would need to ask another 30 questions before could answer you.

 You have a brain do you not?

Yes please feel free to ask. I was just looking for some advice

[blackcab]

26 minutes ago, Thaidude said:

Right now she plans to rent for next few years(probably 3 years) until she moves to my country so we were thinking it would be a wise choice for her to buy so we can have a place to stay here in bangkok whenever we visit.

 

That's a terrible reason to buy. She plans on paying common fees on a unit that will depreciate in value so you can stay half way down a soi when you visit Bangkok?

 

Seriously, save all the hassle and stay in a nice hotel in a good location.

[Destiny1990]

Unit on which floor?total amount of floors?views?

[trogers]

Only studio units with no 1-bedroom units. Five hundred metres to the main road. Sounds like a Nirun class of condo...

 

 

 

[mike324]

My first advice, if she really can't afford it base on her salary, don't buy.  If you can't afford to buy it now for 1 million baht, don't buy.  Don't want to sound too pessimistic, but good luck.

[KittenKong]

16 hours ago, blackcab said:

That's a terrible reason to buy. She plans on paying common fees on a unit that will depreciate in value so you can stay half way down a soi when you visit Bangkok?

 

Seriously, save all the hassle and stay in a nice hotel in a good location.

 

The yearly common fees for my Jomtien condo (which admittedly are quite low) would not buy me a week in a good hotel in a good location in Bangkok: in fact they wouldnt even buy me a half-dozen good Sunday lunches.

In my building there are many co-owners who live abroad and only come here a couple of times a year but who like to leave their own stuff (clothes, pool furniture etc) here and to have full and good kitchen facilities etc. during their visit. So if the OP is thinking of coming fairly regularly or for more than just a few days then owning a condo with low common fees may not be a bad idea in itself assuming he has the money available and nothing better to do with it. And crowded as it is the BTS is just about the only way to travel around Bangkok at anything approaching a good speed and reasonable comfort, so proximity to a BTS (or underground) station is vital as far as I can see.

 

The eventual capital gain/loss is another matter, of course, and is subject to swings and roundabouts. Anyone who bought a 1MB condo with money from the UK a year ago would probably be quite happy today, even more so if they bought a decade or two before at 70+B:1GBP

[blackcab]

1 hour ago, KittenKong said:

 

The yearly common fees for my Jomtien condo (which admittedly are quite low) would not buy me a week in a good hotel in a good location in Bangkok: in fact they wouldnt even buy me a half-dozen good Sunday lunches.

In my building there are many co-owners who live abroad and only come here a couple of times a year but who like to leave their own stuff (clothes, pool furniture etc) here and to have full and good kitchen facilities etc. during their visit. So if the OP is thinking of coming fairly regularly or for more than just a few days then owning a condo with low common fees may not be a bad idea in itself assuming he has the money available and nothing better to do with it. And crowded as it is the BTS is just about the only way to travel around Bangkok at anything approaching a good speed and reasonable comfort, so proximity to a BTS (or underground) station is vital as far as I can see.

 

The eventual capital gain/loss is another matter, of course, and is subject to swings and roundabouts. Anyone who bought a 1MB condo with money from the UK a year ago would probably be quite happy today, even more so if they bought a decade or two before at 70+B:1GBP

 

All fair points. So in the end it's going to come down to how many nights you are going to stay and whether the stuff that is going to get stored the rest of the time is actually worth the cost.

[trogers]

3 minutes ago, blackcab said:

 

All fair points. So in the end it's going to come down to how many nights you are going to stay and whether the stuff that is going to get stored the rest of the time is actually worth the cost.

One would also need to consider the kind of community one's asset would be sited in, at the end of the day, especially on the security aspect.

 

Would the neighbourhood turn into this?

 

 

 

[Destiny1990]

Whats the name of the condo?

[blackcab]

34 minutes ago, Destiny1990 said:

Whats the name of the condo?

 

Nirun

[Destiny1990]

Does anyone know a developer website of this project.I tried searching  it with google.what will be the BTS station name?

[blackcab]

20 minutes ago, Destiny1990 said:

Does anyone know a developer website of this project.I tried searching  it with google.what will be the BTS station name?

 

I think you might be confused. Nirun is am older condo that was built a few years ago.

 

The OP was discussing a different condo.

[Destiny1990]

1 hour ago, blackcab said:

 

I think you might be confused. Nirun is am older condo that was built a few years ago.

 

The OP was discussing a different condo.

Okay so would you know which condo name in Bangkok the OP was talking about?

[blackcab]

2 hours ago, Destiny1990 said:

Okay so would you know which condo name in Bangkok the OP was talking about?

 

I'm afraid not as he hasn't mentioned it. PM him and see what he says. 

[Thaidude]

Getting lots of PM about where the condo is. Sorry but i can't share the name of the condo as they got limited rooms available. Might let you know after we aquire it. Its from a very prominent builder for sure. My GF found it via her friend who also bought it there and they dont advertise it but thanks for everyones help. 

[Thaidude]

Just to give an update, I was able to aquire a condo here for 1 million. Can give the name of the project via PM i can mention now