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Barnabe

Oversupply of condos in BKK yet ridiculous prices

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25 minutes ago, Barnabe said:

At the same time I see some ridiculous advertisements for 40 sqm shoeboxes on sale for as much as 200k/sqm!

200k?  You’re not looking hard enough.  
 

How about the ones pushing (and even going over) 400k/sqm?

 

https://www.hipflat.com/projects/khun-by-yoo-inspired-by-starck-ohscis


https://www.hipflat.com/projects/the-esse-sukhumvit-36-hdefer

 

https://www.hipflat.com/projects/the-xxxix-by-sansiri-fgpkzx

 

 

I can’t figure it out either.

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9 minutes ago, Airalee said:

200k?  You’re not looking hard enough.  
 

How about the ones pushing (and even going over) 400k/sqm?

 

https://www.hipflat.com/projects/khun-by-yoo-inspired-by-starck-ohscis


https://www.hipflat.com/projects/the-esse-sukhumvit-36-hdefer

 

https://www.hipflat.com/projects/the-xxxix-by-sansiri-fgpkzx

 

 

I can’t figure it out either.

 

Briefly looking at your examples, I saw a few at 13M for 40sqm... 417k USD for a shoebox. 


The one I referred to in the first post is actually not 180sqm for 45M, but 280sqm for 45M:

https://www.hipflat.co.th/en/projects/park-court-sukhumvit-77-hwimtg

Still pushing 172k/sqm... 45M baht = 1.44 million USD. For a low rise condo in Onnut!

 

Mind boggling

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22 minutes ago, Barnabe said:

The one I referred to in the first post is actually not 180sqm for 45M, but 280sqm for 45M:

https://www.hipflat.co.th/en/projects/park-court-sukhumvit-77-hwimtg

Still pushing 172k/sqm... 45M baht = 1.44 million USD. For a low rise condo in Onnut!

 

Well....you do get that lovely waterfront ambiance and a nice view of lumpiniville.

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And the fixtures in a lot of these places aren't even comparable to lower end fixtures in apartments in North America

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7 hours ago, dddave said:

In Thailand, even Bangkok, carrying costs for vacant condo units are almost nil.  Why would an owner/developer significantly drop the price of a unit in response to what is probably a relatively short term economic downturn.  Successful property investors are usually in it for the long haul and at some point, the market will heat up again.

For the entirety of my 18+ years here, skeptics have annually predicted the total collapse of the local condo market(overbuilt, shoddy construction, poor design, over-priced) and for the better part of those 18 years, it has chugged right along. 


Yes, the annual, “The Bangkok real estate market is due for a crash based on my metrics” post.  

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In my condo supply is up and rental prices are down around 30%.  I have never seen a drop like this.

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In this country a consumer research for possible markets for newly built condos and housing is a dirty word, when i developer decide to build they build, the motto is "If we build it it they will come" just look at Pattaya, the place is awashed with thousands of empty properties and the still build mammoth condos, for whom i ask?...

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