Thai Condominium association upbeat market will pick up

[theguyfromanotherforum]

3 minutes ago, smutcakes said:

I know a condo in BKK which has gone up 5 times in value since it was completed.

 

Let's see the listing please, otherwise your post is pointless.

[bangkokorbust]

For such a high roller in the BKK real estate u drink cheap beers!

I usually drink San might light but they are the first to sell out at the 7/11 you wanna pic I have empty bottle?

[smutcakes]

2 minutes ago, theguyfromanotherforum said:

 

Let's see the listing please, otherwise your post is pointless.

 

Somkid Gardens was launched in 1992 at 32K per sqm, and is now units transferred at 150+ K sqm.

Tower Park was launched in 1993 at 23K per sqm and now units transferred at 120 K sqm

 

[theguyfromanotherforum]

12 minutes ago, smutcakes said:

 

Somkid Gardens was launched in 1992 at 32K per sqm, and is now units transferred at 150+ K sqm.

Tower Park was launched in 1993 at 23K per sqm and now units transferred at 120 K sqm

 

 

Thanks, I just checked those.

 

Yep, location, location.

 

However, to be fair these are huge units and probably harder to sell. 5x appreciation in 25 years is well done on a condo.

 

It certainly pays to buy and live in your own unit. I wonder how much the maintenance fees are.

 

 

Edited March 3, 2017 by theguyfromanotherforum

[smutcakes]

18 minutes ago, theguyfromanotherforum said:

 

Thanks, I just checked those.

 

Yep, location, location.

 

However, to be fair these are huge units and probably harder to sell. 5x appreciation in 25 years is well done on a condo.

 

It certainly pays to buy and live in your own unit. I wonder how much the maintenance fees are.

 

 

There are a couple of others with decent growth.

Somkid Gardens is 65 baht sqm per month.

[SoilSpoil]

2 hours ago, little mary sunshine said:

Sounds like they are "Trying to feed

hay to a dead horse"... Thousands and

thousands for sale in  Pattaya & Chiang

Mai.....still building, Why??

Chinese are buying a lot of condos in CM, Bangkok, Pattaya, cause they are relatively cheap. Weird things is that it's the Chinese middle class who is purchasing a lot of properties.

 

http://thailand-property-news.knightfrank.co.th/2017/02/14/chinese-are-becoming-investors-first-tourists-second-in-thailand/

[ExpatOilWorker]

14 hours ago, bangkokorbust said:

You can't really use that formula across the board. But let's say it just became the law then doubling the money and living rent free I would accept it but then we have so many variables to consider

And according to the arm chair agents on TV, every body will lose money as they sell their condo because the next owner must lose as well . All the way down until in two hundreds years time when the market implodes completely because you see the pressure of everyone always selling at a loss can't be sustainable and then owners will just trade them for potatoes

 

If your condo triple in value it will be worth more than the entire Thai GDP in 2,000 years. Not a bad deal actually.

[ExpatOilWorker]

1 hour ago, smutcakes said:

 

Somkid Gardens was launched in 1992 at 32K per sqm, and is now units transferred at 150+ K sqm.

Tower Park was launched in 1993 at 23K per sqm and now units transferred at 120 K sqm

 

Somkid Gardens is an interesting building. They did also not sell as hot potatoes even at 32,000 baht/m2 back in 1992. The last 10 units were auctioned off in 2003. Keep in mind 10 units is a lot for a small lowrise building like Somkid. 

 

32K (1992) = 108K (2017) at 5% inflation. So a small profit if they are selling at 150K

Edited March 3, 2017 by ExpatOilWorker

[bangkokorbust]

 
If your condo triple in value it will be worth more than the entire Thai GDP in 2,000 years. Not a bad deal actually.

Go back and read it again. That's not what I said

[ExpatOilWorker]

11 minutes ago, bangkokorbust said:

Go back and read it again. That's not what I said

Well, in that case it is not a good deal. Up to you.

[smutcakes]

14 minutes ago, ExpatOilWorker said:

Somkid Gardens is an interesting building. They did also not sell as hot potatoes even at 32,000 baht/m2 back in 1992. The last 10 units were auctioned off in 2003. Keep in mind 10 units is a lot for a small lowrise building like Somkid. 

 

32K (1992) = 108K (2017) at 5% inflation. So a small profit if they are selling at 150K

Park Chidlom launched at 100 k per sqm, now transferring at 230 K per sqm. 10 years old this year. Still in very high demand.

 

Somkid is not exactly a small low rise, it must be the thick end of 25 floors.

[little mary sunshine]

1 hour ago, smutcakes said:

I know a condo in BKK which has gone up 5 times in value since it was completed.

No doubt it is a QUALITY condo in a PRIME  location. Not a

shoebox in CM or Patts.  

[smutcakes]

Just now, little mary sunshine said:

No doubt it is a QUALITY condo in a PRIME  location. Not a

shoebox in CM or Patts.  

Yes, that is why i said BKK.

[ExpatOilWorker]

16 minutes ago, smutcakes said:

Park Chidlom launched at 100 k per sqm, now transferring at 230 K per sqm. 10 years old this year. Still in very high demand.

 

Somkid is not exactly a small low rise, it must be the thick end of 25 floors.

You are right. The auction in 2003 was in the condo just before Somkid Gardens. Newhouse Condo. My bad.

[trogers]

4 hours ago, Destiny1990 said:

I did not find any 2 bedroom units for 500,000 with ur search criteria.Do u have the condo name seems more pratical.

I think there have been a misunderstanding. Bt500,000 is probably a down payment for sale, and not the selling price...?

[bangkokorbust]

Well, in that case it is not a good deal. Up to you.

You are right. The auction in 2003 was in the condo just before Somkid Gardens. Newhouse Condo. My bad.

Your right just rang a mate who owns a new condo at the hyde corner soi 13 Nana and it works out at 5 times the sqm cost.

[Destiny1990]

43 minutes ago, trogers said:

I think there have been a misunderstanding. Bt500,000 is probably a down payment for sale, and not the selling price...?

Yes already once he starts talking about. Bkk real estate is way cheaper than pattaya real estate it was obvious that the poster is trolling round.

[ExpatOilWorker]

14 minutes ago, bangkokorbust said:

 

Your right just rang a mate who owns a new condo at the hyde corner soi 13 Nana and it works out at 5 times the sqm cost. I have to stop with the mental calculations

 

The Hyde?? Wasn't that called Regency and dragged under when Lehman Brothers collapsed in 2008?

 

I would rather have dental work done by Satan himself than live or invest in that building.

 

 

[little mary sunshine]

2 hours ago, SoilSpoil said:

Chinese are buying a lot of condos in CM, Bangkok, Pattaya, cause they are relatively cheap. Weird things is that it's the Chinese middle class who is purchasing a lot of properties.

 

http://thailand-property-news.knightfrank.co.th/2017/02/14/chinese-are-becoming-investors-first-tourists-second-in-thailand/

108 investors...... 122 M visitors.....does not apply to be

much interest from what I see......Hundred if not thousands 

of unsold units in CM and Patts......

[bangkokorbust]

 
The Hyde?? Wasn't that called Regency and dragged under when Lehman Brothers collapsed in 2008?
 
I would rather have dental work done by Satan himself than live or invest in that building.
 
 

Yes. It's a stunning build I would call it close to 5 star. There is a hyde hotel going up adjoining it and should be finished within 2 years and it's 5 star

Why don't you like it?

[ExpatOilWorker]

1 minute ago, bangkokorbust said:

Yes. It's a stunning build I would call it close to 5 star. There is a hyde hotel going up adjoining it and should be finished within 2 years and it's 5 star

Why don't you like it?

 

Because, back in the days there use to be a great open air Singha beer garden, with beautiful yellow chairs and tables and a brilliant tom-yam-gong soup. Then one night the hotel at the same plot burned down in some mysterious insurance scam.

 

On a more serious note, I actually went to the Regency sales office, which was located in the Trendy building. From memory they were asking 90-110K per m2. I actually considered it for a while, but happily I never did buy it as the building site was abandoned for 5 (7?) years.

 

Got to run, I have a dental appointment.

[bangkokorbust]

 
Because, back in the days there use to be a great open air Singha beer garden, with beautiful yellow chairs and tables and a brilliant tom-yam-gong soup. Then one night the hotel at the same plot burned down in some mysterious insurance scam.
 
On a more serious note, I actually went to the Regency sales office, which was located in the Trendy building. From memory they were asking 90-110K per m2. I actually considered it for a while, but happily I never did buy it as the building site was abandoned for 5 (7?) years.
 
Got to run, I have a dental appointment.

Yes owners had a big headache with that one
An Irish fellow I know bought 5.
Before they announced a new developer in a cunning move they called everyone offering deposits back.

[ExpatOilWorker]

5 minutes ago, bangkokorbust said:

Yes owners had a big headache with that one
An Irish fellow I know bought 5.
Before they announced a new developer in a cunning move they called everyone offering deposits back.

 

Before that there were many tears and sleepless nights. I believe it also fostered a near endless thread of frustration on this site.

Great it had a happy ending and happy endings are still plentiful at the back of the building in the narrow ally toward Villa, at least so I have been told.

Edited March 3, 2017 by ExpatOilWorker

[bangkokorbust]

 
Before that there were many tears and sleepless nights. I believe it also fostered a near endless thread of frustration on this site.
Great it had a happy ending and happy endings are still plentiful at the back of the building in the narrow ally toward Villa, at least so I have been told.

Yup you got that right

[bangkokorbust]

Wakarusa

[bangkokorbust]

The biggest losers in the Thailand property market are the British. Always always screaming from a bar stool do NOT buy in Thailand. Buy back home and live off the rent.
I truly believe that it's karma whats happened to the sterling.

Any brit with half a brain would have bough in the country he has retired in and here is the thing.. Any brit that had bought 5 to 10years ago could have sold even at a loss and converted Baht back to STERLING and made a 40 %killing on exchange rate alone!

Hahaha I love it.. So instead a massive profit they have taken a 40% hit... In the other direction lol

[Pinot]

On 3/3/2017 at 6:25 AM, trogers said:

I thought the bubble had already burst in Jomtien, Pattaya and Phuket when you see launched projects being abandoned and construction at a standstill.

Work has stopped on another condo project this month in Kamala Beach and another huge one where the work has slowed to a snail's pace. With another high season coming to an end, I'm going to assume that the off plan sales just aren't happening which are usually the way these projects get finished. 

 

Anyone buying a condo off plan has more money than sense (cents). 

[trogers]

5 minutes ago, Pinot said:

Work has stopped on another condo project this month in Kamala Beach and another huge one where the work has slowed to a snail's pace. With another high season coming to an end, I'm going to assume that the off plan sales just aren't happening which are usually the way these projects get finished. 

 

Anyone buying a condo off plan has more money than sense (cents). 

People has wised up since late 2015, and that's why off plan sales has been dwindling for a year and a half...