Buying a Condo for Rental Income during the pandemic

[bondjames007]

Hi all.

 

I am  living in Thailand on a Retirement Visa  and now thinking of buying a condo as an Investment.

 

If you have the funds to buy a condo right now, would you buy for one for rental income right now ?  as I am 

thinking of purchasing a condo as an Investment.  If so,  any thoughts of best location in Thailand.

 

Any thoughts and comments about buying a condo right now.

 

 

[beano2274]

I bought 2 condos in Nonthaburi, and joined them into one, they have been empty for over a year now, been trying to rent out (area good as near DPU and other universities) or even sell, but nothing is happening at the moment, people do not want to move into Condos at the moment due to the amount of people who live in such buildings.

[Pilotman]

OP, don't.

Rental values have bombed in all the tourist areas, for example, just today a friend has rented out his 2 bed house with a garden and pool for 7,000 Baht per month on a year rental, even at that low rent he feels  lucky to have found a tenant at all.  Many thousands of condos are empty, just in the Pattaya area.  if you have money you just don't care about, then I guess its a good time to buy, but in my view its about as far from a sensible  'investment' as you can get.   No doubt there will be contrary views that come your way on TVF.  

[Airalee]

Looking around my area in Bangkok (Phra Khanong/Onnut), I can see many condos that appear to be at 5-10% occupancy judging by the lights that are on.  My building itself has only 40 units occupied (out of more than 300) after a year of being open.  The P/E ratios are way out of whack and due to the low occupancy rates (and other general economic factors), I don’t see the rents raising any time soon to make it a profitable investment.  Sales prices also appear to be quite sticky on the way down so finding that needle in a haystack will be tough if not impossible.