News Forum - Bangkok sees strong, luxury condo demand in first half of 2021

[Thaiger]

Despite 2021 being considered worse than last year in terms of Covid-19’s economic toll, a leading international property consultant says Bangkok is still drawing investors. And, at a year on year increase of 26.8%, Bangkok’s new housing projects are showing no signs of slowing. The first half of this year, alone, has seen new, super-luxury condominium projects leading in terms of highest average bookings. Coming in at around 76%, the demand for such high-end condos seems to be booming. Artitaya Kasemlawan, Head of Residential Sales, attributes that demand to the decreasing supply of new condo projects that have slowed by […]

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[King Cotton]

Bangkok sees strong, luxury condo demand in first half of 2021

What . . . even after the one that I didn't buy?

[sputnik]

too expensive, too small  and breaking down fast...once u bought it new in the cause of two three years most things in the building break...i remember the new one that i rented just build out of the plastic ( the furniture ) soon after i moved in many issues, once even the building was partly flooded..etc etc...a year later i took the same room and then the ac was leaking under the wall....the landlord bought it new...my tip don't buy condos its a gamble..and thais dont wanna buy second hand...so once u have it u might be stuck for a long time...the only positive...u can own it legally and the infrustructure is nice ( free gym, swimming pool etc etc )

[DoUKnowWhoIAm]

41 minutes ago, Thaiger said:

new, super-luxury condominium projects

15 m2 shoeboxes in Bang-Faroff?

[Bob20]

21 minutes ago, sputnik said:

too expensive, too small  and breaking down fast...once u bought it new in the cause of two three years most things in the building break...i remember the new one that i rented just build out of the plastic ( the furniture ) soon after i moved in many issues, once even the building was partly flooded..etc etc...a year later i took the same room and then the ac was leaking under the wall....the landlord bought it new...my tip don't buy condos its a gamble..and thais dont wanna buy second hand...so once u have it u might be stuck for a long time...the only positive...u can own it legally and the infrustructure is nice ( free gym, swimming pool etc etc )

 

Most buildings are on the outside just covered concrete with a layer of paint. That's going to take maintenance with the rain, sun and temperature. No different whether you rent or buy, it's covered by the maintenance fee.

Inside, if you buy it once it's finished there's not much choice, so you'd have to properly assess the quality.

I've bought while they had only poored the concrete floor and the rest I've been supervising. The interior is completely as I wish it to be and yes, you are correct, you have to keep watch. Whenever something's not been quite right, and it happens mostly because they don't communicate well, they've done it anew properly without quibbling.

As far as buying or renting, if you're here long-term it's not much different from at home. Renting is convenient if you wish to be mobile or if anything goes wrong (if you have a good landlord), but the rent-money is gone.

If you buy and consider losing a part of your investment, you'd probably still be financially better off. And if you do it now, in the current buyers market, you may be able to get a good deal and cover most risks with it.

There's one big flaw in the article. If the market was as great as they pretend, they'd never give instant 5-10% discounts. So, use it to your advantage, and as always, consider location, location, location.

[DoUKnowWhoIAm]

These people should be put on Lithium to suppress their delusional mania. (Along with TAT).

[Marc26]

If, IF, Bangkok is following global trends, it is not delusional and could be realistic

We've seen in this pandemic that the luxury/high-end side has actually gone haywire

 

If hey are talking about the true luxury market, like the Four Seasons project, Ritz Carlton project, etc

 

it is absolutely feasible that these would outperform

[EdwardV]

1 hour ago, Bob20 said:

There's one big flaw in the article. If the market was as great as they pretend, they'd never give instant 5-10% discounts. So, use it to your advantage, and as always, consider location, location, location.

Exactly. In a surging market, you increase prices not give discounts. I still don't think residential property is a good long term investment in Thailand. Demographics will kill the market at some point. However if you think you can time the market (good luck), or it's your home and the last one you will every buy. Then it works. 

[sputnik]

2 hours ago, Bob20 said:

Most buildings are on the outside just covered concrete with a layer of paint. That's going to take maintenance with the rain, sun and temperature. No different whether you rent or buy, it's covered by the maintenance fee.

Inside, if you buy it once it's finished there's not much choice, so you'd have to properly assess the quality.

I've bought while they had only poored the concrete floor and the rest I've been supervising. The interior is completely as I wish it to be and yes, you are correct, you have to keep watch. Whenever something's not been quite right, and it happens mostly because they don't communicate well, they've done it anew properly without quibbling.

As far as buying or renting, if you're here long-term it's not much different from at home. Renting is convenient if you wish to be mobile or if anything goes wrong (if you have a good landlord), but the rent-money is gone.

If you buy and consider losing a part of your investment, you'd probably still be financially better off. And if you do it now, in the current buyers market, you may be able to get a good deal and cover most risks with it.

There's one big flaw in the article. If the market was as great as they pretend, they'd never give instant 5-10% discounts. So, use it to your advantage, and as always, consider location, location, location.

its a good way if you can supervise the inside part of your condo ...but most don't...they buy a place that looks fancy and after a while they discover the flaws...plus every month u need to pay that management fees and if something happens u need to fix it urselve anyway...taking in account the low standards of most things thailand the non availability of skilled workers / craftsmen u very likely be stuck with a work that is substandard .... if with the rental something goes wrong ( new neighbour chinese opens a gambling den,  a brothel or a indian hotel = 3 men in every bed ) u out in no time...try to sell a semi devastated place with hookers on every floor... good luck...the best: rent in a serviced appartement hotel ...make a long term lease.. three month etc.... ...all in ..no hassles electric or other bs....and if u wanna change pack and move...sure the rental money is gone but u are free at all times no strings attached

[Marc26]

4 minutes ago, sputnik said:

its a good way if you can supervise the inside part of your condo ...but most don't...they buy a place that looks fancy and after a while they discover the flaws...plus every month u need to pay that management fees and if something happens u need to fix it urselve anyway...taking in account the low standards of most things thailand the non availability of skilled workers / craftsmen u very likely be stuck with a work that is substandard .... if with the rental something goes wrong ( new neighbour chinese opens a gambling den,  a brothel or a indian hotel = 3 men in every bed ) u out in no time...try to sell a semi devastated place with hookers on every floor... good luck...the best: rent in a serviced appartement hotel ...make a long term lease.. three month etc.... ...all in ..no hassles electric or other bs....and if u wanna change pack and move...sure the rental money is gone but u are free at all times no strings attached

We are buying a new house in Bangkok area in the spring

And I explained to my that I am only willing to go to a certain budget because I just don't see it appreciating in value

Like the poster above, I don't mind taking a bit of a loss over 10yrs(or so) that is less than what I would have spent in rent

But since I don't see much resale value, we should only buy it for a certain amount