Regents condominium

[Guest]

Hey maybe one of you smart successful guys out there who knows the BKK real estate market could answer my question. I am contemplating buying a 2 bedroom condo at the new Regent project (next to to new Regent Hotel to be completed) for an investment for 10,933,500 Baht which is for 111 square meters on Sukumvit soi 13. What do you think? Is it a good investment. I will try to rent it out and I live in Miami Florida but I am bullish on the BKK economy long term and it seems like a great property and great location. It is being developed by A Grande Asset Group. What do you guys think--please advise. thanks.

[Snick]

Be very careful about buying a place before it is finished. I've heard of cases where the developer goes broke, and cases where the building settled poorly after construction and becomes an expensive leaning tower of Bangkok.

As for how the Thai Economy will go, let me consult my astrologer when he gets back from Sumatra.

[Guest]

thanks for the tip. However, this A Grande Asset Group is very big if that means anything. Please advise

[BAM]

10,933,500.00 THB Thailand Baht    =  
277,874.11 USD United States Dollars  

That€™s alot of money I think ... can you afford to lose it? There is always that chance,  it's a risky investment.
You say 'A Grande Asset Group' is big but this is Thailand and many of these companies operate using financial leveraging. What happened in 1997 is a fine example of how quickly things can go wrong. The Asian financial crisis in 97 spread like a wild fire all over Asia.. it was started by Thailand!. Seems the King was over inflating the Thai Baht to unrealistic levels... the over inflated Baht invited large investments... when it all suddenly crashed most were caught by surprise. Huge mega projects in Thailand and all over Asia went bust over night.

[Snick]

I live here...and I RENT.

Right now the foreign money is LEAVING Thailand. Look at the value of the baht and the Thai market index the last 2 weeks. What you are seeing is a large net OUTFLOW of foreign capital. This could all be temporary, or not.

As I said before, buying property before completion here is extra-risky, you do not have the legal safeguards you would have in the west.

Also keep in mind that property here does not last as long as in the west. Between the weather and the construction standards you will not see a condo rertain its value over a 20 year period as you would in USA or elsewhere.

[Guest]

Lot's of new places coming on to the market in Soi RUam Rudee and Saladaeng.

I have lots of friends in property investments in Thailand, they are selling everything and cashing up predicting a blow out in the economy by the end of the year.
Realestate with so much coming onto the market this 2nd and 3rd qtr will crash acccording to them.

I purchased a 2 level penthouse in Soi Ruam Rudee in a new building, I havent even moved in as it is rented until November this year, I am considering selling it under advice.

If you have the money then buy and settle down, if your happy with what you pay for what you get then go ahead. If your in 2 minds then wait.

[stogie bear]

I'm no expert, but my money would be in the suburbs of Bangkok and NOT the city. If you are investing then the real growth market is low to middle income housing. Home ownership is now available to so many more Thais and construction of these properties is evident all over the outskirts of the city especially where I live in Samutprakan at the end of Srinakarin.

[Mai-Kee]

I can agree with Mike 100% - at least that's what people I know do who live there for ages. Sala Daeng and Ruam Rudee are actually absolute dream locations - exactly those 2 I'd pick if I could choose. And pls check the location in the raining season. It can easily happen that you buy a beautiful condo in March in a nice quiet soi which's totally flooded from July to September. That's why good locations have their price. And when you rent a certain standard you pay even European prices. For instance the new building in Soi 11, next to the Bed-Supperclub, they take between 60-80k BHT/months (that's 1400 - 1900 USD) for a 170sqm 3-bedroom apartment - ugly furnished. So they charge you the expat rate in the city. Expecting IBM pays for you and your 3 kids anyway.
I'm looking myself - that's why I know....

MK

[Guest]

hey thanks guys I read enough. I made great money in the South Florida real estate market over the last 5 years but I know it. I will stick with what I know. Who need all of the additional risks set forth above. By the way Bam I stayed at the JW Marriott all week. I got a great rate of $80.00 US a night for a room overlooking NANA. At first I stayed at OMNI Service Tower for $50.00 a night but I checked out b/c I hated it. The Marriott is great. Thanks again for the invaluable information--who would have thought I would have found it here.

[Guest]

I can agree with Mike 100% - at least that's what people I know do who live there for ages. Sala Daeng and Ruam Rudee are actually absolute dream locations - exactly those 2 I'd pick if I could choose. And pls check the location in the raining season. It can easily happen that you buy a beautiful condo in March in a nice quiet soi which's totally flooded from July to September. That's why good locations have their price. And when you rent a certain standard you pay even European prices. For instance the new building in Soi 11, next to the Bed-Supperclub, they take between 60-80k BHT/months (that's 1400 - 1900 USD) for a 170sqm 3-bedroom apartment - ugly furnished. So they charge you the expat rate in the city. Expecting IBM pays for you and your 3 kids anyway.
I'm looking myself - that's why I know....

MK

Yes your right too buddy.
I live in All Seasons Mansion in Soi Ruam Rudee and have bought that penthouse in Soi Lansuan, the building next to Villa.

Add Saladaeng and you have three of the best three locations in Bangkok. Look no further than these if you have the money otherwise follow Stogies advice.

I met with my buddy that is very big in investments I mentioned before, yesterday, he said so much gloom he scared the shit out of me, so far everything he has predicted is happening.

He forecasted Thai bt to USA of 45 - 50 in the next year, due to may reasons, but he forecast that oil will double and that will be the end of Thailand, week later, yesterday, they are prediciting 104 a barrell.

Incidentally if you have Raymond Land or Siri consider selling.

[Torurot]

> All Seasons Mansion in Soi Ruam Rudee

That is a smart looking building.

[Mai-Kee]

The All Seasons is perfect. A good friend of mine lived there for over a year and bought now an apartment just round the corner at the Noble House Ruam Rudee. Great location, you're in the heart of BKK, all facilities around and - if you're kind of fed up with the hookers scene and in need of something more classy - the 87 or the Bar in the Conrad are 2 minutes away.
I personally have a faible for the Sala Daeng area. Maybe because I lived there about 10 years ago for nearly a year. Kind of home feeling..... But actually couldn't find anything there that suits me. Everything they built recently is crap and totally overpriced.
Any recommendations are very welcome!

MK