Attention Investors and Home makers

A Bangkok Condo Sale to suit all

It is 3 years old and a somewhat distressed sale. When off plan it sold for 1.9m Baht, today the same owner asks just 1.7m Baht and is looking for offers!

This I think is a pretty good deal when you take into account all the main selling features of this property, which when gathered collectively = a very easy Bangkok condo to rent out and get a regular income from.

It is very well located just 750 meters from BTS Udomsuk and right out front is a motor bike taxi rank, making journeys even easier. It offers secure parking and security from guard patrols etc. It has a very nice common swimming pool and garden area, as well as a nice gym. It seems to be a pretty well run place right now also.

It may also be crucial to note that the area itself is quite ripe for future development which will have a very positive effect on land and condo values as at this present moment in time one could say it is a little sparse in those regards. There is one other condo development over the road, but that is that so far to date.

 It is top floor, the eleventh, with nice balcony overlooking the pool, so it will be quieter than most with no neighbours above. It also has the fully fitted out and equipped kitchen and is being offered with most of the furnishing items you will see in the pictures. 

Its value is likely around 10,000 baht a month in the Bangkok condo rental market, but if advertised at 9,500 for a true one bedroom of 36 sqm, it would I am quite certain rent very fast as normally this will get you only studios. With very little nearby to compete, again it is likely not to stay vacant for very long. 

All in all we feel that this Bangkok condo sale property represents a good buying opportunity. Click Bangkok Condo sale to read up on this opportunity.

Buying a Condo in Bangkok for Investment

There is a great amount of debate on this subject right now and a great many opinions. Personally, as I will show in the next few articles in the coming week, opinions from any of us are likely as valid as any of those that come from the experts and commentators on this subject.

                             

I guess the first question should be, is the Bangkok condo sales market heading for a period of overheating, overbuilding oversupplying, call it what you will. Potentially yes, this is a danger for any such developing nation’s capital city and I have to say from my first hand experience there are a few red flags out there the could stop this bullish market.

To dive into this any further and in any great detail we would have to take each market sector as a totally separate market entity as from what I see they are all suffering slightly or very different fates. For example, right now the very low end of the market, say under 1.5m baht condos aimed at the indigenous market, seems to be doing very well and I see little evidence of swathes of empty rooms.

Not so for the medium and higher ends of the market. I will name no names, but in recent outings to towers in Thong Lor, Ekamai and Onnut I have found a great many rooms unsold and or unoccupied. In one new tower in Ekamai I have seen a range of condos on sale from around 4 Million to 20 million perhaps 60% sold only. Of the remaining ones sold hardly any had been rented.

And here lies a potential issue. I have found that a great many of these condos have been bought out by single investors who buy 10-20 at a time if not more. These units will often remain empty as the owners have no time not true intention or inclination to let their new condos out to the market, leaving some new towers perhaps 50% occupied or less.

Of course by holding them in this manner, they are falsifying the Bangkok Condo Rental stats as a whole, as perhaps thus encouraging further new developments to crop up and up as we feel there are not enough room available to fill the gap in supply. Should even 50% of these types come onto the rental market we could see an overstocked situation right away.

And here ends the first piece of guidance. Is the future Bangkok Condo rental market secure enough? Will you always be able to rent you condo for say 11 months a year minimum to gain the ROI you bought it for? Or will it as so many do, stay empty for at least a third of the year?

In my next piece I will write in more depth about the best sector of the rental market at present and how I believe it will evolve in the next few years and beyond.

What Floor is too Low for you?

When is a condo rental just not attractive to you? Too small, price too tall, messy, old, tired, smelly…there are many legitimate reasons I know. But in the case of a low floor in a low rise, is this so that it can be too low?

Walk up and down Soi Langsuan in the centre of Bangkok and find a 2 Bedroom condo rental under 40,000, go on I challenge you. Likely it is not going to happen if it is anything half decent in one of the developments on that street.

Now turn right at the top of Soi Langsuan into Thanon Sarasin…some nice little bistro type cafes and such like along there, and right opposite from Lumpini Park, so without question an awesome place to live. So what stops this 2 Bed Condo rental from becoming a 2 bed condo tenanted? 

 When I first went to see it, it was on the market at 45,000 per month and to be honest that did not strike me as way over board. However, try as we may it would not budge, so now we find it on the market asking just 37,500. Much more buzz and activity around the place but still, no takers.

Oddly it seems a condo can be considered as too low, in terms of the floor on which it sits. I could understand this if it was about passing traffic and pedestrian noise, but that would not be the case in this side street which is at best a ghost street. Further more having the pool, gym and steam room on the same floor just about 15 meters walk from your front door surely is of huge appeal no?

Take a look at the page on our website for this Bangkok Condo Rental that just wont shift! and if you see anything specific, drop us a comment below!

Bangkok Penthouse Rental at Silom Condo Price

Following on from yesterdays post about how rental rates have fallen here in recent years, I immediately thought of this as a perfect example of how the Bangkok condo Rental market has altered.

When you think penthouse you think, top floor, huge, lots of outdoor balcony and terrace space and a great area in which to live. Well, this penthouse in a Silom condo development certainly ticks all those boxes, and at a price normally associated with run of the mill 2 bedroom condos in any part of Bangkok.

It is indeed top floor; it takes up all the 21st floor of the tower development it occupies alongside the BTS sky train station. It is indeed huge, weighing in at 187sqm. It has many balconies and outdoor terrace, garden spaces with awesome views in all directions! And being in the heart of Silom and Sathon roads, it is indeed in a first class location.

 So at 60,000 a month, you would think it very well priced considering it comprises 3 – 4 bedrooms, 1 or 2 living rooms, 2 kitchens multiple bathrooms and so much balcony space yes? Now take a look at the agent advert for this Silom Penthouse and faint when you see it still available at the same price one would normally find a 2 bed condo for rent in Thong Lor!

Perhaps you know some one who would like to know more about this....please do share, tweet, digg on!!!

Greetings one and all

There are quite literally thousands of people out there who would dearly love to buy a luxury home in Thailand, and indeed there are literally thousands to choose from. This of course fraught with problems, as most buyers know very little about the market here in Thailand and are as such at the whim of the developer and or real estate agent. 

Of course it is very unlikely a developer will tell you not to buy his property as he believes vigorously in his site, and as he should. And despite what people may believe, agents are not necessarily dishonest, but with hundred of properties for sale on their website it is impossible for them to truly know which ones are secure, trustworthy, financially stable and of correct quality. 

 http://siamdistinction.com/listing/pranburi/

Hence Siam Distinction is born. We will never host more than around 25 property developments on sale i would think, this way we truly can know all about the developer, the product and thus the viability of what they offer and thus give accurate correct and fruitful. We have been in Thailand working in the business for many years and as such we have learned to do our own levels of due diligence. We firmly believe we can protect our buyers interests whilst still representing the developer to the fullest as an agent should. 

If you do genuinely want to buy but have fears, misgivings and in general are a little confused, drop us an email and we will take through all the pros and cons, the processes, the ownership issues, financing, rental programs, management fees, the whole nine yards. Rest assured that we will present this information to you warts and all leaving out none of the ugliness and potential pitfalls. We want you to know the whole story before you buy your dream home so that it remains just that for your lifetime.

http://siamdistinction.com/