I brought a condo unit in the very first highrise that Noble did back in 1997. I snapped it up cheap after the economic crisis Thailand was going through back then so this C19 situation may be a good opportunity. Some hints I could pass on to any potential foreign buyers 1) consider buying only if you plan to keep it very long term in Thailand and/or rent it out as an investment. Do not expect any potential capitals gains. 2) apart from the bricks, mortar and flashy condo facilities that can easily seduce you ask about their monthly common area fee, sinking fund and an English translation of their "Condo rules and regulations" that Noble (or the developer) wrote and registered with the Lands Dept. You may find these add significantly to the cost and some crazy - even illegal, rules in there. Ask what company was contracted to manage the condo? and who is the Juristic Manager? Many developers will set up a subsidiary company under a different name with the exact same directors and shareholders and contract this company using their own employees to be juristic manager and condo management staff. For very new condos co-owners do not yet know their neighbours and so are none the wiser of what is going on behinds the scenes. At the AGM they do not know that the people volunteering to be voted in on the condo board are all in fact employees of the developer as the developer will still own condo units/floor area and so maintain voting rights. This sets up a conflict of interest and will be fully used by the developer to forward their interests over those of other co-owners including not paying their common area fees for any of the developer's unsold condos. Under the Thai Condominium Act 1979 only the Juristic manager can sign legal documents such as contracts for management company, security guards, lift maintenance contract, etc including hiring lawyers to lodge law suits against a developer! Good luck with that if the JM is an employee whose being paid by the developer! If Condo rules contravene the Condo Act then to get them changed requires a 75% AGM majority vote and the JM to sign off on them when lodged with the Lands Dept. Yes catch 22! There are a lot of hidden pitfalls for the unaware so do your due diligence!
@@AA-im7ki No problem glad I could be of help. What may interest you is that despite buying a condo dirt cheap during the 1997 crisis it took a full 10 years to get the cost of what I paid (plus cost of common area fees over those 10 years) back in terms of saved rent I would have otherwise paid. So that brings up the issue of maintaining one's long term Thailand visa status to be able to live long term in your condo to take advantage of the cheap cost of living.
That's very interesting. I've never bought a condo nor have I heard of this before in the 12 years I've lived in Thailand. This sounds like something that could be pretty common in Thailand, it's Thailand afterall, the land of hush hush and mai pan rai. Dumb people like myself, and probably many others, without any previous experience, would never know before it's too late, if it wasn't for you, so thanks 👍Not that I was planning on buying a condo anyway, but it's nice to have the knowledge when you need it.
Great tour! Just filmed a top value pad nearby rent from $500 month, buy from 2.8MB/$93K, 45 floors, 3 infinity rooftop pools, 4 gyms, cinema, rooftop amphitheatre garden, sky lounges, etc etc. Bangkok is incredible value (esp compared to back home ie Vancouver;)
Lol. I just posted a comment referring to your video. Well, I agree (on top value in Bangkok) BUT also in Bangkok you can easily overpay on condos and the prices usually always include a 'negotiation window' so do never pay the asking price in Bangkok would be a rule (there are always exceptions). Return on investment though is not high at all Bangkok, also compared to big international cities. Renting is usually the way to go in Thailand as a foreigner. Your video on this Life condominium was great BTW
@@ue7483 Just for the record, here's my response to a guy who commented he'd like to buy a unit right now (from overseas): -Unless you're a seasoned investor in the local real estate market already and know the ropes well, perhaps best hold off. But if you typically buy on launch and know the local market well, then up to you as they say. However, if it's a single purchase to live in, best to rent in your desired condo location for at least a few months first, to see if it measures up and suits your lifestyle. Can usually rent month to month on AirBnB etc, at a higher rent but worth it to 'test sleep' a place. Either way, there's a glut of condos for sale on the market thus, no rush. Also I've a feeling Thailand will start to reduce restrictions then open up more and sooner than later so hopefully you can see in person in the not too distant future.
Hi all, Win from REMAX CondoDee is here For all of you asking additional costs for 3 projects: --- Additional costs are: 1. Sinking Fund - one-time payment - Noble Above Wireless-Ruamrudee: - 600 B/sqm - Noble Recole (Skvt 19): - 600 B/sqm - Noble BE33: - 700 B/sqm 2. Common area fee - Noble Above Wireless-Ruamrudee: 80 B/sqm/month - Noble Recole (Skvt 19): 65 B/sqm/month - Noble BE33: 70 B/sqm/month 3. Transfer ownership (1/2-1/2 with the developer) - 1%
You can rent similar and fully furnished condos at $1000/month, even less in BKK. Paying 33 years of rent now, without even knowing that you can stay that longer, doesn't make any sense. There is so much condo bubble in Thailand that it is not a good investment either. It is a shame that they are asking so high price for just a 68 sqm unit in this crisis.
Chris I was wondering if there’s any truth in the Thai government granting permanent residency if you purchase a property once and when the restrictions are lifted. Here in the UK they should be rolling out a COVID vaccine anytime soon, if so would the thai government still require two weeks isolation if you provided certification to say you have been given the vaccine ? If you get to hear anything could you post if possible. Thx 🙏
There was a declaration by ministry of health yesterday stating that having vaccine does NOT allow you to bypass the quarantine in *short and mid term*. Permanent residency: No, it will never happen. Elite or similar visa: Yes. In any case, you can find long term visa options even if you don't purchase a property. Just search in the Internet as Thai visa forum :/
If you start looking at condos with access to a beach in Hua Hin, Chonburi, Koh Samui, or Phuket for under $250K USD then I might be interested, I can't see living in Bangkok, and paying $500,000 USD to live in the concrete jungle which is sinking underwater each year?! AND Communist China moving in as your neighbor in the condo? No Thanks! Either way please use the cute Thai, KHUN NAN from your previous condo tours. You could actually just skip the condo tours and feature Khun Nan! 🤪 Another fun idea might be to let your daughter borrow your camera and show what an average day is like in a Thai school. Kinda similar to youtuber, "Paolo fromTOKYO" and his "day in the life (in Japan)" series which is popular. Thanks for sharing!
As a Norwegian I do like the Scandinavian style, but it's just way too pricey. Even half the price seems a bit pricey for that unit and location. Yes you can get some passive income, 30k/month perhaps, but that's not a lot when you know there are plenty of 2-3 million baht units being rented out for 10-15k/month. For that price you could buy 4 units, stay in one of them and still earn more per month.
Nice, informative video with a friendly and funny host Ranya. Please more of them. Maybe a mix between Condos for sale and condos for rent. Greetings from germany.
I feel it's not worth the price compare to the renting one. even if you pay around 600$ a month, it would take you 50+ years of renting to make up for the 400k price tag.
i said the same thing about shanghai 10 yrs ago, now the rent for my unit is 3k usd, 10 yrs ago was 400. the thing about asia is average income increases like crazy in short amount of time. 10yrs ago my top employee was making 9k rmb(1.2k usd) a month, today she is making 50k rmb, 8k usd a month, yeah, crazy, same thing might be happening in thailand
Thailand is not really a buyers market. Condos are abundant. If you can rent for an amount that is lower then 1/20th of its sale price it would be better to invest the money and rent from the roi. Then your money stays available when needed. If you have lots of money to spare, then the world is different then for people who have to spend most of their money to buy a condo. And if you buy, go look at 10+ year old buildings. You can then see how maintenance is done. Maintenance is what often goes wrong. All new buildings look nice, but when you buy maintenance becomes the most important. Seen to many 10 million baht places go bad because they had very little occupancy and most condos where bought just because banks give no interest rates and rich peoples money has to go somewhere. Those same rich people DO NOT want to spend a few hundred baht a month for maintenance (service costs). Check the office to see how many are behind or never paid. Another good indicator is to look around at night (after 18:00) and see how many condos have the lights on. Bangkok is dark! Especially when it is not right in the centre of a hotspot.
I definitely agree with you, I think most people don't pay maintenance fee, there is something going on there, there are too many condos in Bangkok that look like they were built 50 years ago, but they are only 10 years old.
It would be beneficial if you included the transfer fees at the land office ( approx. 1% of land office valuation ); if the developer pays half or not; information on money to buy the condo must be shown to have been brought into the country for the purchase of a condo, TT3 from the bank, monthly maintenance fees. Thanks for your wonderful videos as always./......... edit : Foreigners cannot get mortgages other than through one finance firm, 50% mortgage, 10 years, a little over 8%. Life Insurance, and fire insurance for ten years paid up front.
Hi dereksharron Win is here from REMAX CondoDee There are 2 charges: - Sinking Fund paid one time when buying a new condo - a common area fee paid per sqm per month For Noble Recole: - Sinking Fund - 600 Baht per sqm - Common Area fee - 65 Baht per sqm per month Transfer fee is 50% covered by Noble - so that buyer only pay 1%
hello, could you make videos on condos outside the tourist areas? the prices in the tourist areas are easy to know but not those outside these areas. thanks 😘
Awesome video. This is the sort of valuable information you should be sharing. Better than watching pointless videos of you riding your hired bike down to Hua Hin!
@@RetiredWorkingForYou Compliment for the Condo tour videos! This is valuable information about buying apartments in Bangkok! Thumbs down for your videos riding down to Hua Hin ;)
Thanks for the info buddy. Great video. I think these prices are observed. Much better off investing in your own country where you have safety and higher rental returns. Also investing in apartments where you don’t own any land is not always a good idea. I’ve seen many in Thailand lose $$$. I would consider investing in Asia but probably not Thailand.
You can’t go wrong with condos for rent and sale in BKK. That’s what brought me to RU-vid. I mentioned in another one of your Vlogs that most of my friends and family in Thailand has told me to rent instead of buy. Can you see if it’s possible to rent if you have a small dog? Thanks buddy
Nice building Chris I settle for a rental you can get one for 10 000 thai baht the nest in prah Khanong sukhumvit 71 away from Tourist but a few stops away but not a great view like this
Curious as to whether or not that particular condo is available for Foreigners to buy and own outright. Apparently there's some rule if foreign ownership is over a certain percentage, then foreigners can buy. Not sure how that works. Not did I explain it correctly. Lol
Hi Sean Win from REMAX CondoDee is here Yes, you can buy a condo in this building and own it 100% freehold The only limitation is that there can be not more than 49% of units owned by foreigners in the building We take care to sell units as per foreigner freehold quota
@@dksharron let me clarify again - you own 100% of YOUR UNIT - there can be only up to 49% of units (in area measure) in the building that are owned by foreigners Hope it makes it clearer
Hi Kancha Win is here from REMAX CondoDee There are 2 charges: - Sinking Fund paid one time when buying a new condo - a common area fee paid per sqm per month Both are a bit different from project to project and both are really not expensive there is no property tax in Thailand as so far
Hi Chris, im a middle school teacher now and am interested in teaching in Thailand. What province do you think would be a better place to teach and also rent . I'm a single male and have no children. I have a cat but would not bring him. I'm not looking to get rich but I'm looking for a better life and be able to teach kids science. Yes I'm a science teacher.
Hi David Win is here from REMAX CondoDee There are 2 charges: - Sinking Fund paid one time when buying a new condo - a common area fee paid per sqm per month Both are a bit different from project to project and both are really not expensive there is no property tax in Thailand as so far
Actually for the 100-200k price you really only need to go 1) to a less desirable/central part of Bangkok and 2) buy second hand rather than brand new....
I don't get it. Why on earth would I pay $400,000 for a condo in Bangkok.. when I could buy a house on the coast of Oregon for $350,000? This makes absolutely no sense.
I love your work, but it's technically not an infinity pool unless it is looking out over a natural large water feature ... one that is large enough so that you can't see the other shore on the other side ... hence, the infinity concepts. If it is looking out over a city view it is an edgeless pool, but not an infinity pool.
Might you know how to find out which Bangkok condos have water filtration systems, so that the tap water is safe to drink? I'm drawn to a lot of the top condo brands like Rhythm, Ashton, Idea Q, Life, Siamese, etc. but I'm not sure if any of these have safe tap water to drink.
It actually depends on the location and brand of each developer as well. Even in the same area But for different brands, the price will be different as well.
That's a bit surprising. I wonder....I guess it's expats and foreign workers that these buildings are selling to, huh? That's probably about 20-30% more expensive that comparable condos here in downtown Calgary (Canada), which, after Vancouver and Toronto proper. is probably the most expensive city in Canada for real estate. I imagine as you drop in price, you're giving up size, which, was already pretty small, actually. Outside of downtown Calgary, it's probably more like 30-40% more expensive.
For sure I feel this apartment is very overpriced. My English friend just bought an apartment in London. It is a touch smaller and just one bed but its only a fraction cheaper than this Bangkok apartment. London is famously expensive for property and especially 'New Builds' that come already at a higher asking price. It seems crazy that these Bangkok apartments are almost the same price. It's clear Thailands wealth has been gradually growing over the last few decades but given the current instability with the economy in the light of Covid I would absolute say that this would be an unwise purchase to say the least. My friends London apartment will appreciate in value massively but I would say this will not be the case for this Bangkok apartment. Oh and someone tell the estate agent at the start of the video that there is no point wearing a covid mask if you then shake hands with people. It's an overheated market and lots of wealthy Thai property business people are banking on massive growth and I'm not sure it's going to happen. Invest elsewhere....or wait till these BKK property prices crash.
$400K is alot in BKK but its a drop in the bucket if you live anywhere on the West Coast of North America, in SF $400K will get you a dump, if you can find one way the heck outside the main cities.
0:22 not really related, but does anyone know the make and model of that beautiful white van behind Chris? That's exactly the kind of vehicle I'm looking to buy next.
what do i do if thailand introduces mandatory vaccination for foreigners and don't want to be vaccinated? and bought a condo? and when will the next pandemic come?
This pandemic proved that having a property doesn't provide you any privilege to enter Thailand. Many property owners, including Elite visa owners, are still locked out of Thailand. If Thailand asks mandatory vaccination, and you are not vaccinated, you will not be able enter. But in order that to happen, Thai government should keep vaccinated people exempt from the 14-day quarantine. However recently they declared that they will NOT apply such an exemption in short and mid term.
Crazy how COVID has impacted different markets. In the US prices and demand have gone through the roof and in Thailand demand is depressed. I'm guessing it's because Thailand basically closed to foreigners? That said are most buyers of these condos foreigners?
