I have no idea why anyone would buy a condo in Bkk now. The prices seem artificially high. In 10 years or 20 years, try to imagine what the building will look like. If you're talking about 3 million baht for a 35 sq.meter condo, why not just rent?
But it's not something I know much about and I'm probably missing something.
...majestically enthroned amid the vulgar herd...
1. Multiculturalism. Yes, Bangkok is an international city, but the legal restrictions on foreign ownership and jingoistic economic policy artificially suppress demand by effectively shrinking the market.
2. Geographic limitations. Bangkok has a lot more room to grow than NYC (limited by Manhattan), London (limited by zone 1 and registered buildings), and Singapore (limited by land space).
The same applies to other cities with skyhigh property values.
^ I'm trying to remember when I learned that ... high school?
There is another factor geographers and city planners call the ZIT. In Mexico City it's referred to as La Cinta de la Miseria .. the belt of misery. It's an ever changing socio-economical dynamic of city growth and property values. TOAC can Google and explain it in more detail.
Million baht or so range?
Personally I'd rather a house or Condo in some place like Chiang Mai.
Out of interest I just searched for some condos in Chiang Mai, and was pretty surprised to see the first one listed for 300,000thb. Sure it's a showbox room, but man that's cheap.
Chiang Mai Real Estate | Condos for Salein Chiang Mai - 0 To 5,000,000 THB
The first 13 are all under 500,000.
Though the first long term semi-livable one (to me at least) would be this 70sqm 2 br one at 1,450,000b.
Last edited by The Perfect Present; 31st August 2012 at 11:25.
Guy Manpoof sux nuts for $$.
Tomcat trained. Satisfaction guaranteed.
At least 70sqm is a livable space. Bkk condos for 2 million baht that are 35sqm? Better to rent one.
I know tc. I've been in larger condos. I remember visiting some well-to-do folks in their condo that was 150sqm. The downside to such a large condo is the impossibly expensive task of air-conditioning it. I felt like I was visiting a sauna for two hours. Yeah, it was big and nicely appointed, but I nearly suffocated during my visit.
Bangkok may have more room to grow but those places will be a long way out... There is clearly still a lot of land in central Bangkok that is not used/underused and a lot of new condo projects are currently being built on that land. So I guess in the short term the market will not go up... At the moment there seems to be a lot of demand for condos but also a lot of supply too. The supply won't last forever though.
2) just by closing an interior door or two, the living room should be cool in about 15 minutes...did you call before you visited?
3) Thais seem to prefer the breeze to a/c...and so do I: on the balcony with a drink or in the evening watching TV (with a fan)...the less a/c the better...
I think the market will go up in the short term, and by quite a bit--there's speculation and economic growth in a still-developing nation. But it's unsustainable, and competition from new developments will suppress the price of older units even as the price of new units increases.