Looking for a Condo

cautious colin · Post by **cautious colin** » Fri Oct 14, 2022 7:27 am

cautious colin wrote: ↑Thu Oct 13, 2022 6:56 pm
Doc67 wrote: ↑Thu Oct 13, 2022 11:06 am I am in the market for a condo. I am no longer interested in 'modernised' apartments in decrepit buildings. 10 days in a Bangkok apartment have shaken me awake as to how much I have compromised on basic living standards.

I keep reading how this is a buyer's market with so many empty and available, but I can't find any of these places. Maybe I am doing something wrong, but from where I am sitting, there is a very little available that meet even the most basic criteria and much of it is little more than a joke - junk furniture, 4 cupboards and sink masquerading as a kitchen and other idiotic interior designs.

Can anyone help? Here's the brief:

Location: Riverside, from, (North to South) street 104 down to Naga and inland to Monivong to the west. I would consider north BKK1, but nothing west or north of the other boundaries.

1 or 2 bed, elevator, between $500 to $750 a month.

A pool and gym would be a bonus but not a deal breaker.

Any help gratefully appreciated. In fact, if anyone points me to a place that I take, I'll give you $100.
How long are you willing to sign a lease for?

If willing to sign a long enough lease you should be able to pick up something nice around this area 57 near super duper

May take some negotiating but Windser, the Richardson buildings, Hampton and romdoul Bopha are all under occupied.

Should be able to pick up something for around 800 (try windser, it’s an old condo which means bigger, and kitchens are good

Doc67 · Post by **Doc67** » Fri Oct 14, 2022 7:29 am

cautious colin wrote: ↑Thu Oct 13, 2022 6:56 pm
Doc67 wrote: ↑Thu Oct 13, 2022 11:06 am I am in the market for a condo. I am no longer interested in 'modernised' apartments in decrepit buildings. 10 days in a Bangkok apartment have shaken me awake as to how much I have compromised on basic living standards.

I keep reading how this is a buyer's market with so many empty and available, but I can't find any of these places. Maybe I am doing something wrong, but from where I am sitting, there is a very little available that meet even the most basic criteria and much of it is little more than a joke - junk furniture, 4 cupboards and sink masquerading as a kitchen and other idiotic interior designs.

Can anyone help? Here's the brief:

Location: Riverside, from, (North to South) street 104 down to Naga and inland to Monivong to the west. I would consider north BKK1, but nothing west or north of the other boundaries.

1 or 2 bed, elevator, between $500 to $750 a month.

A pool and gym would be a bonus but not a deal breaker.

Any help gratefully appreciated. In fact, if anyone points me to a place that I take, I'll give you $100.
How long are you willing to sign a lease for?

1 Year. I have been in my current place for 5 years so anyone looking for a reliable tenant that doesn't move on a whim, I'm your man.

truffledog · Post by **truffledog** » Fri Oct 14, 2022 2:52 pm

The rents in PP are crazy. Makes me retink my long term plans of staying there for retirement. Dont want to stuff half of my budget into a chinese developpers mouth.

Tootsfriend · Post by **Tootsfriend** » Fri Oct 14, 2022 5:46 pm

truffledog wrote: ↑Fri Oct 14, 2022 2:52 pm The rents in PP are crazy. Makes me retink my long term plans of staying there for retirement. Dont want to stuff half of my budget into a chinese developpers mouth.

It has always been recognized that the amount of money you should be spending on rent should be between 25 % and 33% of you income. If you are spending more than 33% then you are probably living in a luxury apartment above your living standard .
On the other side of the argument, property prices have increased,, not only in Cambodia, and every investor in property wants a decent return on the money they have invested. This is Cambodia and you cannot expect the same living standed as in the western world cities.
The building opposite me has 2 apartments that have been vacant for quite a while and even I have one that is empty and am doing a slow renovation on it cause rents are so low it's not worth the effort of renting out. My opinion is rents are very cheap when compared to the value of the money invested in certain properties, especially residential properties.

truffledog · Post by **truffledog** » Fri Oct 14, 2022 6:30 pm

Tootsfriend wrote: ↑Fri Oct 14, 2022 5:46 pm
truffledog wrote: ↑Fri Oct 14, 2022 2:52 pm The rents in PP are crazy. Makes me retink my long term plans of staying there for retirement. Dont want to stuff half of my budget into a chinese developpers mouth.
It has always been recognized that the amount of money you should be spending on rent should be between 25 % and 33% of you income. If you are spending more than 33% then you are probably living in a luxury apartment above your living standard .
On the other side of the argument, property prices have increased,, not only in Cambodia, and every investor in property wants a decent return on the money they have invested. This is Cambodia and you cannot expect the same living standed as in the western world cities.
The building opposite me has 2 apartments that have been vacant for quite a while and even I have one that is empty and am doing a slow renovation on it cause rents are so low it's not worth the effort of renting out. My opinion is rents are very cheap when compared to the value of the money invested in certain properties, especially residential properties.

From what I reckon those skyscarpers have been built with cheap labor, cheap materials and cheap financing costs. Therefore they should rent out at much lower levels including a healthy return for the stakeholders. This bubble will burst one day with a big bang.

Bluenose · Post by **Bluenose** » Fri Oct 14, 2022 6:44 pm

truffledog wrote: ↑Fri Oct 14, 2022 2:52 pm The rents in PP are crazy. Makes me retink my long term plans of staying there for retirement. Dont want to stuff half of my budget into a chinese developpers mouth.

Crazy compared to what and where?

rogerrabbit · Post by **rogerrabbit** » Fri Oct 14, 2022 6:47 pm

truffledog wrote: ↑Fri Oct 14, 2022 6:30 pm
Tootsfriend wrote: ↑Fri Oct 14, 2022 5:46 pm
truffledog wrote: ↑Fri Oct 14, 2022 2:52 pm The rents in PP are crazy. Makes me retink my long term plans of staying there for retirement. Dont want to stuff half of my budget into a chinese developpers mouth.
It has always been recognized that the amount of money you should be spending on rent should be between 25 % and 33% of you income. If you are spending more than 33% then you are probably living in a luxury apartment above your living standard .
On the other side of the argument, property prices have increased,, not only in Cambodia, and every investor in property wants a decent return on the money they have invested. This is Cambodia and you cannot expect the same living standed as in the western world cities.
The building opposite me has 2 apartments that have been vacant for quite a while and even I have one that is empty and am doing a slow renovation on it cause rents are so low it's not worth the effort of renting out. My opinion is rents are very cheap when compared to the value of the money invested in certain properties, especially residential properties.

From what I reckon those skyscarpers have been built with cheap labor, cheap materials and cheap financing costs. Therefore they should rent out at much lower levels including a healthy return for the stakeholders. This bubble will burst one day with a big bang.

Actually labour cost in Cambodia can be much higher than in Thailand or Malaysia for example. Salaries are lower in Cambodia you might say, but you have to remember that especially engineering and such level staff are usually expats as there isn't enough know-how in this country. Though this is changing slowly. There are already projects where almost all of the staff is local. But local staff is not cheap either because shortage of educated locals. Local engineer who has studied abroad and has some work experience can earn over $2000 month easily.

Also practically all of the building materials needs to be imported which is not cheap either. Again this is changing and there is more and more local manufacturing happening.

And not so sure about the cheap financing costs either.

But property prices do have air here because... well they are able to sell the units with those prices.

Doc67 · Post by **Doc67** » Sat Oct 15, 2022 10:43 am

truffledog wrote: ↑Fri Oct 14, 2022 2:52 pm The rents in PP are crazy. Makes me retink my long term plans of staying there for retirement. Dont want to stuff half of my budget into a chinese developpers mouth.

The lack of supply, choice, quality and price, of raw produce and meats etc. will drive you crazy, not the rents.

phuketrichard · Post by **phuketrichard** » Sat Oct 15, 2022 1:31 pm

Doc67 wrote: ↑Sat Oct 15, 2022 10:43 am
truffledog wrote: ↑Fri Oct 14, 2022 2:52 pm The rents in PP are crazy. Makes me retink my long term plans of staying there for retirement. Dont want to stuff half of my budget into a chinese developpers mouth.
The lack of supply, choice, quality and price, of raw produce and meats etc. will drive you crazy, not the rents.

Having now built a house in Phuket and one in Kep i can honestly say

construction, materials are cheaper in Phuket.
Quality is Far FAR better in Phuket than here

its only the labor thats cheaper an it does not make up for everything else which is sub par or buying, what I see is 2nd quality goods from thailand that is sold at Global house

Doc67 · Post by **Doc67** » Sat Oct 15, 2022 1:57 pm

phuketrichard wrote: ↑Sat Oct 15, 2022 1:31 pm
Doc67 wrote: ↑Sat Oct 15, 2022 10:43 am
truffledog wrote: ↑Fri Oct 14, 2022 2:52 pm The rents in PP are crazy. Makes me retink my long term plans of staying there for retirement. Dont want to stuff half of my budget into a chinese developpers mouth.
The lack of supply, choice, quality and price, of raw produce and meats etc. will drive you crazy, not the rents.
Having now built a house in Phuket and one in Kep i can honestly say

construction, materials are cheaper in Phuket.
Quality is Far FAR better in Phuket than here

its only the labor thats cheaper an it does not make up for everything else which is sub par or buying, what I see is 2nd quality goods from thailand that is sold at Global house

And while the labour is cheap, there will be one working and one standing there watching. And you better be standing behind the pair of them at all times.

I just had a bathroom repaired. They fitted the shower attachment to the pipes from the wall, but because they had no washers, they didn't bother to use any. It leaked within a day of being tuned on.

He came back (after a week) and then made two rubber washers from a rubber sheet by cutting a circle, then a hole in it. "Not for sale" he said. Hmmm....

He then tried to assemble it without any sealing tape (PTFE) because he had none. Not having any sealing tape seems a perfectly good reason not to buy some and use it. I happened to have some from prior dealings with a plumber (I use the term loosely) and told him to use it. He did use it, and then tried to fucking steal it. That's what you are dealing with here.

As for quality of materials: taps, connections, isolation valves (that's a laugh) it is all the cheapest nastiest stuff but it's not even cheap and it'll be badly fitted.

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