Hubby and I have been talking about buying a condo in BKK for the purpose of renting it out. The only problem is we really don't know which area would be good. We want to rent it to westerners, either a single person or a couple and we would want it to be a one bedroom unit.
From my experience in BKK as a tenant, I have seen nice apartments / condos with a swimming pool in nice areas for around 8,000 baht per month rental. Considering our rental would bring in 8-12,000 baht per month, furnished or partially furnished, how much are we looking at as a purchase price?
ladprao near a skytrain
Over what period of time would you want to recoup your investment/make a profit? For that rental rate, I'd look at the Lumphini Villege project on sukhumvit soi 77. I think condos there are 1.5-2 million baht.Originally Posted by natalie8
Big Deal Nat8
Or MRT
That's a nice central location and a good price. Yes, being near either a BTS or MRT station would be bonus too.
There's loads of apartments just gone up or going up in "early" Ladprao from soi 1 down to the Rachada junction (soi 21) - near either Phahonyothin or Latprao MRT....
Suk 62-64 and the opposite side, loads of new developments, or wong wian yai, near the bts extension.
Note for the dimensionally retarded: 6" = 150 mm
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You won't make much money on a condo if anything, supply is outstripping damand here, it must be. they are going up everyday, and looking around I don't see many people who can afford them. This would cause a problem as if there isn't enough tenents then the maintenance charges will rise and the place could end up in a shit state.
I think you will only really make money on a house in central Bangkok, but your not allowed to buy one.
'After the game, the king and the pawn go into the same box'
My husband is Thai so he can own the land. A non-Thai can own a house in Thailand, just not the land.
AO, thanks for your comment in my rep.
Better off buying a house or land then init.
condo mkt is waay top heavy
to get good rental returns you'll need a prime address, and big bucks
even at lad prao youre looking at 3 mill for more than a shoebox
if its for investment consider the beach somewhere
Serial Wolf Bagger
Have you thought about anywhere on the far end of suk, maybe around lassalle. The extended sky train should be finished next year,(or so they say), so wle will all have a bit more choice in terms of easily commutable accomodation.
Also, have a look around some of the banks. I often see posters of repossessed houses going fairly cheap on bank walls.
Also, there is a way around the whole land thing. Set up a company and you can buy land, apparantly. There are alot of people setting up their own companies purely for the purpose of getting a werk permit and/or buying land. I think it works out as about 20'000bht a year to get everything official. Some people do use it as a genuine earner but mostly it is just a way to beat the system
Thaivisa.com - Setting up a Thai Private Company Limited
This link talks you through the steps to set up a company as a real earner so alot of the costs mentioned would not be neccesary.
Good luck Nat. Even if you don't make a huge profit from it, atleast you will always have a safe-haven to fall back on if ever needed.
Make an ark if you wish to stay in Lassalle, the flooding is atrocious.
geez, your parents must be so proud
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