News Forum - Bangkok’s luxury condo market is booming

[Thaiger]

Bangkok’s luxury condo scene is booming with rent at some high-end condominiums now hitting 100,000 baht per month, reports BangkokBizNews. Sanchai Khu-Ekachai, Director and Head of Research and Consulting at Knight Frank Thailand Co., Ltd. said… “The condo market began to recover because of demand from foreigners affected by the Russia – Ukraine war, especially …

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[Vigo]

Short term rentals of condos was supposed to be illegal since they did not  comply with reporting of foreigners, nor of tax remitting.

On the other hand, the Russians, Chinese and Thais all deserve each other. Thais will find out what happens when they  facilitate money laundering and gangsterism. Regular Russian people don't have the income to support the purchase of  luxury condominiums.

 The Thai condos had better understand what a contingency reserve is because the Chinese investors can stop paying condo fees for any number of reasons. That's the problem with a condo that has a high number of foreign owners: If they don't pay their fees, the other condo residents must   make up the shortfall.