Should I buy a condo?

ohmybananas · Post by **ohmybananas** » Thu Dec 23, 2021 5:49 pm

Have been looking at a couple of condos in BKK1 and am considering investing.

I heard that there's a massive property glut now - does it make sense to buy now or should I wait for a few more months / years?

What are rents like in BKK1 at the moment?

I've been to Cambodia a little while ago and am amazed at how quickly it is developing. Looking at buying to rent / invest and am able to hold for an extended period of time (5 - 10 years).

Any thoughts / suggestions?

rogerrabbit · Post by **rogerrabbit** » Thu Dec 23, 2021 6:29 pm

ohmybananas wrote: ↑Thu Dec 23, 2021 5:49 pm Have been looking at a couple of condos in BKK1 and am considering investing.

I heard that there's a massive property glut now - does it make sense to buy now or should I wait for a few more months / years?

What are rents like in BKK1 at the moment?

I've been to Cambodia a little while ago and am amazed at how quickly it is developing. Looking at buying to rent / invest and am able to hold for an extended period of time (5 - 10 years).

Any thoughts / suggestions?

Rents have come down in last 24 months quite a bit. Though I believe the rents are now stabilised. In Tonle Bassac area, which is next to BKK1, you can get $400-600/month (depending on amenities and sqm) for modern 1br apartment for long term rental and $600-$700/month short term in last 12 months. If you can find a deal, then sure why not. Probably not worth to buy with listed prices.

AndyKK · Post by **AndyKK** » Thu Dec 23, 2021 7:07 pm

OP may I ask do you want to buy for investment, meaning to rent out or to sell later at a profit? If that is the case, do you have someone trustworthy to handle monies. If you intended to live in the condo, the question I would be asking, am I going to get a visa year after year.

Darkcel · Post by **Darkcel** » Thu Dec 23, 2021 8:14 pm

If you posted "Should I kill myself?" I would tell you no, don't do that as it is stupid

I'll tell you the same about buying a condo here

truffledog · Post by **truffledog** » Thu Dec 23, 2021 8:23 pm

ohmybananas wrote: ↑Thu Dec 23, 2021 5:49 pm Have been looking at a couple of condos in BKK1 and am considering investing.

I heard that there's a massive property glut now - does it make sense to buy now or should I wait for a few more months / years?

What are rents like in BKK1 at the moment?

I've been to Cambodia a little while ago and am amazed at how quickly it is developing. Looking at buying to rent / invest and am able to hold for an extended period of time (5 - 10 years).

Any thoughts / suggestions?

Its like betting..you wont know the right decision until 5-10 years time. Both scenarios are to be considered: option 1 is Cambodia/PP is going to keep developping as money/business grows. Your appartment is probably well rented out and value has risen. Nice deal. Option 2 is something like an implosion of the property markewith a huge devaluation of the immo prices. Fuck then i guess. And to make things worse every other scenario in between the options are possible as well. And there is little you can influence on where it will go.

And this is only the economic bet..

there is so many bets involved when buying into any property sector, the list es near endless. I personally prefer assets i can easily turn into cash when needed. Property never fell in that category.

Anchor Moy · Post by **Anchor Moy** » Thu Dec 23, 2021 8:41 pm

ohmybananas wrote: ↑Thu Dec 23, 2021 5:49 pm Have been looking at a couple of condos in BKK1 and am considering investing.

I heard that there's a massive property glut now - does it make sense to buy now or should I wait for a few more months / years?

What are rents like in BKK1 at the moment?

I've been to Cambodia a little while ago and am amazed at how quickly it is developing. Looking at buying to rent / invest and am able to hold for an extended period of time (5 - 10 years).

Any thoughts / suggestions?

I would say wait and see for buying a condo. Definitely would not buy any property sight unseen.

Post by **Clutch Cargo** » Thu Dec 23, 2021 9:00 pm

ohmybananas wrote: ↑Thu Dec 23, 2021 5:49 pm Have been looking at a couple of condos in BKK1 and am considering investing.

I heard that there's a massive property glut now - does it make sense to buy now or should I wait for a few more months / years?

What are rents like in BKK1 at the moment?

I've been to Cambodia a little while ago and am amazed at how quickly it is developing. Looking at buying to rent / invest and am able to hold for an extended period of time (5 - 10 years).

Any thoughts / suggestions?

OP- there's a decent discussion around this a few months back too worth a read. post511182.html#p511182

phuketrichard · Post by **phuketrichard** » Fri Dec 24, 2021 8:12 am

in a few years there will be a massive amount of empty /for sale condos and the prices for resale will drop.
better putting ur $$ in Prasac at 7.25 % return.

Kuroneko · Post by **Kuroneko** » Fri Dec 24, 2021 10:04 am

phuketrichard wrote: ↑Fri Dec 24, 2021 8:12 am in a few years there will be a massive amount of empty /for sale condos and the prices for resale will drop.
better putting ur $$ in Prasac at 7.25 % return.

Exactly right, Ten years ago I was going to buy a new condo, but in the end I ended up renting fully furnished and serviced. In retrospect it was the best deal. All maintenance and replacements are included in the rent, and looking round there are a lot of nice condos now at good prices that would make my place a unattractive sale option. Buying a condo here is like buying a new car and expecting to sell it at a much higher price ten years later than you originally paid for it.

Albror · Post by **Albror** » Fri Dec 24, 2021 10:48 am

Hard to say. There wont be a shortage of new condos and city is expanding.

I rent a condo for 250 a month + management/electric etc.

I have seen condos from this house listed for 45k sell. 250x12 = 3.000/45.000 = 6,6% annual return. Shit investment and with brand new condos popping up all around with better quality at not so much higher price i can not see that the value would go up as market rent have to at least double before its a investment worth the risk. On top of that about half of the condos are not rented out at all with desperate owners that will stop anyone else to try make a decent return on theirs. Makes no sense to buy imo. Im just on the other side of the road from Bkk1.

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