Last week I was on vacation in Bangkok. Of course I made use of the occasion to view properties there. Curious to know everything about buying condos in Bangkok? Come follow me to Bangkok now!
In this episode, I will share with you:
1. Why and what foreigners buy
– What are the 3 reasons for foreigners to buy properties in Thailand?
– What kind of properties can you buy in Thailand?
– Why you should buy completed properties only?
– Which are the good locations to buy in Bangkok?
2. How a high-end condo looks like
– How is a typical high-end condo in the city centre like?
– What is the rental yield of a condo unit?
– What are the expenses and taxes of buying condos in Bangkok?
3. What to consider before you buy
– How is the current market of high-end condos in Bangkok?
– Why are the locals not buying?
– How much locals pay for housing and leasing?
– Why you can’t speculate about Thailand properties?
You can watch the YouTube video below. Remember to subscribe to my YouTube channel.
Hi,
From 2011 to now, still plenty of units to choose from based on the M Condo that you highlighted.
My further questions are :
why is this so n has price been held steady in THB terms over the entire unsold period?
There are a few reasons why there are still many left-overs despite launched 7 years ago and completed for 4 years:
1) Unsold units over the past few years
According to the REIC (Real Estate Information Center), as of mid-2017, there are a total of 64,630 unsold condo units in Bangkok.
2) Continuous supply from developers
As many as 112,000 to 120,000 units are expected to be launched in 2018. Half of them are from middle to upper segment of the market.
3) Insufficient domestic demand
Sales of many high-end condos depend on foreign buyers from overseas launches. The well-to-do locals prefer to buy houses at the city fringe of Bangkok as residence.
Condo prices have picked up since the bad time in 2012. There is an average of 5 to 8 percent price increase every year. After deduction of all the taxes, there may still be some profit after holding for a few years.
But the biggest problem is that there is limited secondary market for properties in Thailand. The Thais are superstitious and usually won’t buy second-hand. Foreigners have lots of new projects to choose from. In 2016, the transaction rate of resale condos (second-hand condos successfully sold) is only 1.3% for the whole year.
GREAT to hear honest answers from you, being so insightful and up to the mark.
In fact before going to buy into any market, SG included, potential buyers should know the BIG figures.
Yet sadly, such numbers and related information are hardly ever made readily available for buyers as sellers and their agents never provide such information all the time assuming that these will NOT be asked or demanded.
It will be good if the same answers you provided me can also be shared amongst your other readers perhaps in another blog from you or else this particular blog will appear to be lop sided as well..
Thanks and cheers !
Have a wonderful extended weekend ahead !
Okay, I will try.