Is this the ultimate BS? 500+ thousands per sq m

[11223344]

This condo is asking 550 000+ thb per sq meter

 

98 Wireless by Sansiri

http://www.sansiri.com/condominium/98wireless/

 

Apparently all the penthouses already sold and "strong" interest...

 

I simply wonder why would someone buy into this. Considering the waste selection of high end condos. After an hour of searching I can't find any photos of the condo's facilities.... And the "timeless design" screams - only 60+ years old buyers allowed. I can't even find a single real photo, all is from the show room or visualisation - and it was apparently completed 6 months ago.

 

Reminds me of a condo I used to live in on Soi 13 - penthouses with private pools were fully booked, but you could get on "exclusive wait list" - just last month I found out that not one was ever sold as still offered bare-bones for the first time buyer.

Edited March 26, 2017 by 11223344

[whoareyou]

Still cheap compared to same 5 star quality Hong Kong or Singapore

[11223344]

Well location location location so comparing Bangkok vs Singapore / Hong Kong is irrelevant 

[whoareyou]

Well location location location so comparing Bangkok vs Singapore / Hong Kong is irrelevant 

Not if it's a fraction of the cost. Perspective perspective perspective.

Emerging markets are extremely desirable or would you rather pay 10 x more in Hong Kong?

Emerging markets will become location location location eventually as well [emoji4]

[trogers]

Not fully sold, but fully booked by the big men in the organisation...and I suspect the units are looking for exclusive buyers at 'exclusive' prices...

 

If they are not bought by the time near construction completion, they would suddenly be in the available list of stocks...

 

Catch my drift?

[KittenKong]

1 hour ago, 11223344 said:

only 60+ years old buyers allowed

 

Sounds good to me, as does the 240% parking.

[trogers]

19 hours ago, KittenKong said:

 

Sounds good to me, as does the 240% parking.

You mean reserved parking for two cars and a motorcycle?

[KittenKong]

12 hours ago, trogers said:

You mean reserved parking for two cars and a motorcycle?

 

Not sure about it being reserved, but the website mentions 240% parking. 30% is more common in new builds where I am, even the more expensive ones.

 

By my calculation 100% parking should mean 1 slot for 1 unit.

[trogers]

2 hours ago, KittenKong said:

 

Not sure about it being reserved, but the website mentions 240% parking. 30% is more common in new builds where I am, even the more expensive ones.

 

By my calculation 100% parking should mean 1 slot for 1 unit.

Easy to provide parking of 100% or over for a building with mainly large units. Would be impossible for buildings with shoebox units.

 

A general guide is 25 sqm built-up area needed for road and parking for one parking lot.

Edited March 28, 2017 by trogers

[smutcakes]

On 3/26/2017 at 7:36 PM, 11223344 said:

Well location location location so comparing Bangkok vs Singapore / Hong Kong is irrelevant 

There are many extremely wealthy Hong Kong businessman buying in the Thailand market for retirement, so they obviously like it. It is not completed yet anyway, work is still going on. It looks a lovely building. Personally it is not an area where i would choose to live, but i can understand why people with different priorities would like it. Even at 500,000 baht sqm it is probably 1/8th the price of peak London.

 

I prefer to live in Bangkok to HK or Singapore, and i presume many others do to, so it is perfectly relevant too compare the cities and the prices.

[trogers]

2 hours ago, smutcakes said:

There are many extremely wealthy Hong Kong businessman buying in the Thailand market for retirement, so they obviously like it. It is not completed yet anyway, work is still going on. It looks a lovely building. Personally it is not an area where i would choose to live, but i can understand why people with different priorities would like it. Even at 500,000 baht sqm it is probably 1/8th the price of peak London.

 

I prefer to live in Bangkok to HK or Singapore, and i presume many others do to, so it is perfectly relevant too compare the cities and the prices.

Not necessarily. HK has its high-rise against the backdrop of green mountains, while Singapore is a garden city with constant shades against the tropical sun.

 

And Bangkok has a continuous obstacle course for foot pedestrians, with more challenges for those on wheelchairs.

[smutcakes]

Just now, trogers said:

Not necessarily. HK has its high-rise against the backdrop of green mountains, while Singapore is a garden city with constant shades against the tropical sun.

 

And Bangkok has a continuous obstacle course for foot pedestrians, with more challenges for those on wheelchairs.

Yes and that does not bother some people, which is why many people still prefer Bangkok. Others don't. Different things are important to different people.

 

At the end of the day you are comparing Global Cities. There are plenty who can buy luxury in Singapore or HK, but there are many who prefer Bangkok, the fact they can buy luxury here for a 1/3rd of the price is just a bonus.

[theguyfromanotherforum]

On 3/26/2017 at 7:32 PM, whoareyou said:

Still cheap compared to same 5 star quality Hong Kong or Singapore

 

Wow. What a terrible comparison.

[11223344]

35 minutes ago, theguyfromanotherforum said:

 

Wow. What a terrible comparison.

Yep, waste of time to discuss with majority of the people here... They must be world class investors with theirs "It's still much cheaper than London, hence amazing deal"

[smutcakes]

48 minutes ago, 11223344 said:

Yep, waste of time to discuss with majority of the people here... They must be world class investors with theirs "It's still much cheaper than London, hence amazing deal"

So you have deducted it is waste of time discussing with people, on a topic you started by asking why someone would buy it. What do you want people to say? Just agree with you. There are a number very real reasons why people would buy one:

 

1) They want to live in a nice Condominium in BANGKOK

2) They have plenty of money and believe it is a good investment

3) They like that area of Bangkok, in an area with limited freehold property, and this is a good opportunity to acquire a freehold condo in that particular area.

4) They are Thai and want to live here.

 

There are 4 very simple reasons someone may buy, and there are many more. Not just in this condo but many of the other expensive condo across the city. You might not see why, but its fairly obvious a large amount of people do see why, and are backing that up by making purchasers.

[11223344]

3 hours ago, smutcakes said:

So you have deducted it is waste of time discussing with people, on a topic you started by asking why someone would buy it. What do you want people to say? Just agree with you. There are a number very real reasons why people would buy one:

 

1) They want to live in a nice Condominium in BANGKOK

2) They have plenty of money and believe it is a good investment

3) They like that area of Bangkok, in an area with limited freehold property, and this is a good opportunity to acquire a freehold condo in that particular area.

4) They are Thai and want to live here.

 

There are 4 very simple reasons someone may buy, and there are many more. Not just in this condo but many of the other expensive condo across the city. You might not see why, but its fairly obvious a large amount of people do see why, and are backing that up by making purchasers.

Yes these are great points for discussion

 

Saying it's awesome because still cheaper than London, HG, Singapore is idiotic argument.

 

The project was supposed to be finished in October... as said here it still isn't finished. I would imagine if someone pays 150+ % premium that person would expect to get the goods on time, not 6+ months late. Unless of course there is so little interest that they have no reason to rush

[smutcakes]

5 minutes ago, 11223344 said:

Yes these are great points for discussion

 

Saying it's awesome because still cheaper than London, HG, Singapore is idiotic argument.

 

The project was supposed to be finished in October... as said here it still isn't finished. I would imagine if someone pays 150+ % premium that person would expect to get the goods on time, not 6+ months late. Unless of course there is so little interest that they have no reason to rush

I am not sure people were saying its awesome because its cheaper than London, HK or Singapore. Its simply putting everything into context. The top end of the luxury residential market in a massive global city, comparing it with other capital cities is hardly irrelevant. I presume those purchasing in these projects could easily buy in the other major capital cities, if they have not already, but they also apparently want to buy in these projects, and whatever their reasons are it is obviously not to expensive for them to purchase or justify to themselves.

 

So why exactly are you wondering who would buy them, there are obviously a number of people who would and are.

 

What is a 150%+ premium? premium on what? The project is delayed, not ideal but hardly unusual the world over.

[trogers]

"We are dealing with a very elite market that is quite finite"

 

http://www.ddproperty.com/th/ข่าวอสังหาริมทรัพย์-บทความ/2017/4/151078/competition-for-wealthy-buyers-in-bangkok-heats-up/?utm_source=pgth-newsalert&utm_medium=edm&utm_campaign=dailynews-21Apr2017&utm_content=links