Should I buy a condo?

nerdlinger · Post by **nerdlinger** » Sat Dec 25, 2021 6:30 am

Feels like if you buy, maybe you’ll make a profit maybe you’ll make a loss maybe you’ll break even, but if you rent, you’ll definitely make a loss.

phuketrichard · Post by **phuketrichard** » Sat Dec 25, 2021 8:31 am

nerdlinger wrote: ↑Sat Dec 25, 2021 6:30 am Feels like if you buy, maybe you’ll make a profit maybe you’ll make a loss maybe you’ll break even, but if you rent, you’ll definitely make a loss.

not exactly true, if you put the $$ in a bank at 6%+ interest u might find, (if ur deposit is enough), you'll actually break even or make a profit over buying and the market bottoms out and you cant sell or have to sell at a loss.

Bitte_Kein_Lexus · Post by **Bitte_Kein_Lexus** » Sat Dec 25, 2021 9:12 am

phuketrichard wrote:
nerdlinger wrote: ↑Sat Dec 25, 2021 6:30 am Feels like if you buy, maybe you’ll make a profit maybe you’ll make a loss maybe you’ll break even, but if you rent, you’ll definitely make a loss.
not exactly true, if you put the $$ in a bank at 6%+ interest u might find, (if ur deposit is enough), you'll actually break even or make a profit over buying and the market bottoms out and you cant sell or have to sell at a loss.

Can you show me examples of real estate markets bottoming out, and staying bottomed out forever? Even Las Vegas prices have surpassed their highs of the 2008 bubble. Real estate is a long-term investment, and baring a volcanic eruption or war, doesn't typically go down. The world market is very hot because there's a worldwide housing crisis. You think Chinese won't want to invest their money elsewhere with the shit going on at home? They'll be back in droves. You think Cambodia/Phnom Penh won't develop and the skyline won't end up like BKK?

As for condos, I agree they're not the best investment here, but it's the main one foreigners who aren't "established" here can make. Land is way better, but obviously more difficult and riskier. Banks come with their own risks. Investments are never risk free...

mannanman · Post by **mannanman** » Sat Dec 25, 2021 9:32 am

Expats who use MFI are contributing to poor Cambodian debt and losing any tangible assets they have. Shame!

Kammekor · Post by **Kammekor** » Sat Dec 25, 2021 10:29 am

Bitte_Kein_Lexus wrote: ↑Sat Dec 25, 2021 9:12 am You think Chinese won't want to invest their money elsewhere with the shit going on at home? They'll be back in droves. You think Cambodia/Phnom Penh won't develop and the skyline won't end up like BKK?

Not overly convinced that'll happen anytime soon. Xi is tightening up quite fiercely internally and he will try to avoid any money flowing out of China into foreign real estate for at least the next few years to control the Evergrande collapse.

Kuroneko · Post by **Kuroneko** » Sat Dec 25, 2021 11:03 am

willyhilly wrote: ↑Sat Dec 25, 2021 5:41 am Long term maintenance is a real problem. How long will the plumbing last. Will the building be repainted regularly. When the elevators wear out will they be properly repaired. In Australia we have highly regulated body corporates yet there are many problems with building maintenance. I think condos in Cambodia are a very poor investment.
Whatever happened to Florida, he was the expert.

Exactly thats why I decided on renting the property fully serviced rather than buying. People often forget the cost of maintenance and furnishing/refurnishing, not to mention the hassle of getting the work done properly, for me all maintenance is included in the rent price, and so hassle free The property was actually built 2012 and I was one of the first residents. Since that time I have had three tvs, three lounge suits a bed and microwave replaced in addition to numerous plumbing repairs completed. When I have a problem the onsite maintenance responds more or less immediately and sorts it out. The building has been repainted once and the pool relined and the sauna replaced so maintenance is pretty good.

Bitte_Kein_Lexus · Post by **Bitte_Kein_Lexus** » Sat Dec 25, 2021 11:11 am

Kammekor wrote:
Bitte_Kein_Lexus wrote: ↑Sat Dec 25, 2021 9:12 am You think Chinese won't want to invest their money elsewhere with the shit going on at home? They'll be back in droves. You think Cambodia/Phnom Penh won't develop and the skyline won't end up like BKK?
Not overly convinced that'll happen anytime soon. Xi is tightening up quite fiercely internally and he will try to avoid any money flowing out of China into foreign real estate for at least the next few years to control the Evergrande collapse.

Perhaps true for the average Chinese on $1500 per month, but I'd wager that the Evergrande debacle, as well as the current attack/devaluation of online giants will just further push the rich elite to invest/launder/hide assets elsewhere. After all, regulations have never stopped the rich Chinese from investing literally billions into the Canadian and Australian real estate markets. Citizenship is easily obtained both here and in those two countries (and many others), so I don't see the Chinese insatiable trend of buying up property ending soon. They have no other investment options.

Not saying people should buy because of the Chinese, but they're one part of the puzzle. The main driving force is and will remain the local middle class.

timmydownawell · Post by **timmydownawell** » Sat Dec 25, 2021 1:11 pm

nerdlinger wrote: ↑Sat Dec 25, 2021 6:30 am Feels like if you buy, maybe you’ll make a profit maybe you’ll make a loss maybe you’ll break even, but if you rent, you’ll definitely make a loss.

Still have strata levies to pay if you own a condo. And you might find it impossible to sell at any price.

Also some condos lock you into high priced internet (i.e. one ISP for the building so no choice) and also pre-paid electricity at a high rate.

nerdlinger · Post by **nerdlinger** » Sun Dec 26, 2021 1:03 am

phuketrichard wrote: ↑Sat Dec 25, 2021 8:31 am
nerdlinger wrote: ↑Sat Dec 25, 2021 6:30 am Feels like if you buy, maybe you’ll make a profit maybe you’ll make a loss maybe you’ll break even, but if you rent, you’ll definitely make a loss.
not exactly true, if you put the $$ in a bank at 6%+ interest u might find, (if ur deposit is enough), you'll actually break even or make a profit over buying and the market bottoms out and you cant sell or have to sell at a loss.

You’re trying to have your cake and eat it, in assuming you’ll get a reliable risk free 6% year on year the whole duration in an economy where rents somehow didn’t go up by a corresponding amount.

MAGA · Post by **MAGA** » Sun Dec 26, 2021 8:50 am

Buy a condo here, nice view, quiet place.. Then 1 or 3 years later a bigger condo goes up beside you blocking your view and adding years of noise. I lived in a silent place, but now there are two live band bars down the street. It's brutally noisy until midnight every day. I'm happy I can leave anytime because it's a rental.

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