Quote:
Originally Posted by realy
Can pm me the link to such tour ?
I heard Nxxxx and SanXXXX is the better developer around. Been looking at their website. Notice most condo is either studio or 2 bedroom. Very few with 3 bedroom. Is this the common thing in TH ?
Anw.. was told most ppl pay in full when condo completed. Interest rate around 8% -10% so not worth it.
If dun get prime district.. price shld be around 200k for a decent one. Correct me if i wrong
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Maybe a good way to find dependable developers is to check which thai developers are listed companies. Check how long have they been listed. One that has a history of surviving major economic crisis, should be a good one. Thats one of my way of checking. Listed companies have many people to answer to, so not easy for them to deliberately want to fail a project and cheat buyers' money. Anyway, can always try to google for past scandals involving the developer.
Smaller units are common as its easier to rent out. My view is that most renters in BKK are those YOLO foreigners, jap corporate men posted there & thai FLs / fully modified ladyboys. So not much families to rent out to, thus smaller units being more popular for investors.
For financing, u can check out UOB here. They offer property loans for thai property (subject to our MAS restriction on loan cap), either in SGD or USD. Rates are around 4-5+%. Rates in thailand aint much diff either. So a thai property financed by a loan probably will eat up all most of your rental yield.
Payments for new projects are typically like this:
pay 10% upfront to reserve a unit.
when work begins (phrase 1), u need pay a certain % more.
phrase 2 need another certain % more payment. etc
Balance to be paid upon completion and taking over the property.
Phrases may come in 3 to 5.
The schedule is actually quite tight till last phrase to completion. Can expect the 1st 3 to 4 payments within 2 yrs and final payment another yr or 2 after that. And final payment usually left at most 20% of purchase price so expect most of the payment to be done during the earlier stages of the project.
U can expect units in new projects to have already changed hands (bought and resold) a few times even before the project is completed. Capital appreciation of your property starts before the project is completed, but dont expect large profits before completion as completion risk is the biggest risk consideration when purchasing new projects in thailand.
U can still get prime district units between 200-300k. U need to see what type of condo the project falls under. Typically there are 3 classes of condos: Apartment (little to no facilities and the cheapest), normal condo (standard facilities), luxury condos (very high class ones).
200-300k for smallest unit in prime district applies to normal condo. Luxury condos can range from 250k to 1mil for the smallest unit.
Luxury condos sometimes come with roof top bar/restaurant, bellboy & valet at lobby, even a butler on call to your unit is available. Some units even have private lift.
Expect to pay another 2-3% on the purchase price for taxes & duties. These are stated in thai law so is not agent or developer trying to cheat u. Non negotiable for new projects.
For resale units, can nego between buyer & seller to see who pays what and how much.