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Farang Ghetto Pricing

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I was down on Sukhumvit yesterday and saw the new building going on. I also looked at yesterday's BKK post and saw the sale prices and the rental rates there. We are being ripped off particularly in the white ghetto area!!!! Thais don't pay what we do--nowhere near it. They are taking us for suckers. I live in a nice furnished apartment in the Chatujak area. 2 bedrooms and a living and dining room with one bath and a small kitchen and a balcony. I pay 7000bht per month. Why should things cost so much more in the area that they think all farangs want to live in. I know---location, location, location. Don't be sucked in!! If people refused to pay these inflated prices, they would come down fast.

Billy

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The "best", most convienient locations are always expensive, everywhere!

I'm afraid that these prices will continue to rise as long as people want to make their lives easier. :o

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The "best", most convienient locations are always expensive, everywhere!

I'm afraid that these prices will continue to rise as long as people want to make their lives easier.  :o

Judge

I agree that you pay for convenience but there is a limit to a fair differential. I am close to the BTS also and have everything that I need except for the Villa Market in my immediate neighborhood. I just feel that too many foreigners still compare pricing to their home countries instead of the local market. I just hate to see us seen as fools by the local landlords.

Billy

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You are absolutely right, but, believe me, they will continue to pay those prices despite what you and I think. :o

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I was down on Sukhumvit yesterday and saw the new building going on.  I also looked at yesterday's BKK post and saw the sale prices and the rental rates there.  We are being ripped off particularly in the white ghetto area!!!! Thais don't pay what we do--nowhere near it.  They are taking us for suckers.  I live in a nice furnished apartment in the Chatujak area.  2 bedrooms and a living and dining room with one bath and a small kitchen and a balcony.  I pay 7000bht per month.  Why should things cost so much more in the area that they think all farangs want to live in.  I know---location, location, location.  Don't be sucked in!! If people refused to pay these inflated prices, they would come down fast. 

Billy

You may be surprised to know that the majority of people living in Sukhumvit are Thais, often very wealthy Thais, and they are willing and capable of paying the prices quoted. Hence the sellers are asking for these prices.

Otherwise known as a market economy........

The fact that you (and possibly a few others) think it is too expensive is irrelevant.

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You may be surprised to know that the majority of people living in Sukhumvit are Thais, often very wealthy Thais, and they are willing and capable of paying the prices quoted.  Hence the sellers are asking for these prices.

Otherwise known as a market economy........

The fact that you (and possibly a few others) think it is too expensive is irrelevant.

So true.

The Condo's right behind me are rented at 100k a month. Plenty of farang and Thai people there.

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It's a bit of vicious (or virtuous cycle, depending on how you look at it) ..... lower to mid Sukhumvit is considered a desirable area ..... which attracts rich Thais ..... which makes it more desirable ..... which attracts expats (both western and Japanese) .... which makes it more desirable ..... which attracts ......

My solution was to move away from Suk down to Yannawa. My rent, for a comparable place, came down by 30%, yet it's only 100 baht and 15 minutes in a cab to get back up to the Suk road.

Just my two baht's worth .....

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I just don't get one thing, while the new blds are asking higher rent the old and dirty ones also raise the price ....

the fact that we are getting ripped off is true in everything not only rent... the Rich thais are not renting, I haven't seen a thai person in my life who will pay their own money to rent something more expencive than 15 000Bht/m those who live in 100K per month they got these places rented for them by the company, it's just not worth it for thais to rent as much as farangs do ...

you should mention the subj of getting back the deposit money !!! from a thai landlord ! so many times they were just not willing to give it back , claiming they will have to wait for the bills to arrive or some other lame excuse... just drive me nuts and I am less likely to deposit any money to a thai person...

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Those who are inapt or too lazy to compare prices vs. value for money and the overall market will always get ripped off. However, if someone believes he/she needs to live in downtown Sukhumvit and is willing to come forward with the money asked, fine with me. It's the same thing with cars, mobile phones and other "must-haves"

Just one thing is totally incomprehensile to me: Why are condos always more expensive than houses? Markets aside, shouldn't it be cheaper building a condo unit than a house?

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Those who are inapt or too lazy to compare prices vs. value for money and the overall market will always get ripped off. However, if someone believes he/she needs to live in downtown Sukhumvit and is willing to come forward with the money asked, fine with me. It's the same thing with cars, mobile phones and other "must-haves"

Just one thing is totally incomprehensile to me: Why are condos always more expensive than houses? Markets aside, shouldn't it be cheaper building a condo unit than a house?

Condo's are priced in function of the minimum 3.5 mil required for a farang to invest if he wants to stay here. I went shopping for a condo around my place. Asked 4.2, haggled a bit down to 3.5...then send the wife to go for it. Asked 3.5 haggled it down to 2.9.

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Those who are inapt or too lazy to compare prices vs. value for money and the overall market will always get ripped off. However, if someone believes he/she needs to live in downtown Sukhumvit and is willing to come forward with the money asked, fine with me. It's the same thing with cars, mobile phones and other "must-haves"

Just one thing is totally incomprehensile to me: Why are condos always more expensive than houses? Markets aside, shouldn't it be cheaper building a condo unit than a house?

Condo's are priced in function of the minimum 3.5 mil required for a farang to invest if he wants to stay here. I went shopping for a condo around my place. Asked 4.2, haggled a bit down to 3.5...then send the wife to go for it. Asked 3.5 haggled it down to 2.9.

Erwin

That is a great example. The price went down from 4.2 million to 2.9 million. You better believe some foreigner has payed the 4.2 or "beaten" them down to 4 mill and is walking around saying that he got a great deal and that it would cost twice or much more than that that in London or New York. Even my apartment where I pay 7000, the few Thais here pay 6500. When I first moved in I was paying 8000 but when I found out what the Thais were paying got it reduced to 7000.

Condos should be cheaper than houses if only for the saving in land costs. They also use materials that are pretty cheap and labor costs are minimal.

Billy

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Easy answer, don't live in white ghetto's. I live a 25bt 15 min ride from Victory monument and pay 1800bt a month for a large studio in Muang thong. Depends on your needs but if you don't like paying for it just move

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Dude, you think I'm happy to pay 50K to live in Sukhumvit? No I'm not but guess what? I'm gonna keep paying it regardless. You go on paying your 7 and I'll pay what I pay. You've simply been priced out of the area

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I was down on Sukhumvit yesterday and saw the new building going on.  I also looked at yesterday's BKK post and saw the sale prices and the rental rates there.  We are being ripped off particularly in the white ghetto area!!!! Thais don't pay what we do--nowhere near it.  They are taking us for suckers.  I live in a nice furnished apartment in the Chatujak area.  2 bedrooms and a living and dining room with one bath and a small kitchen and a balcony.  I pay 7000bht per month.  Why should things cost so much more in the area that they think all farangs want to live in.  I know---location, location, location.  Don't be sucked in!! If people refused to pay these inflated prices, they would come down fast. 

Billy

Generally speaking, Asians do have a perception that the Caucasians who worked in their country get really well paid and spend well too. And as Thailand is a country of bargains, they'll mark up all prices despite Westerns or Easterns. But perhaps they'll mark the prices up a lot higher for the Westerns. In anyway, their main target is to make money!

It's true that we should never compare the prices in thailand to our hometown. It's two different stories. Though I've not moved into Thailand yet (but in 2 months time!), we're in the midst of calculating our cost of living to the cost of living in Thailand. Apparently what comes to my surprise is the rental prices. What I can find on the internet's so expensive!! Doesn't makes sense comparing to the cost of living. I've also 'tried' reading Thai property websites renting out houses (by the help of language translation online), a house in the same area with similar characteristics is rented out for 75,000baht in the english websites and 20,000 baht on the Thai websites. That's daylight robbing!

Can you imagine how much you can save by understanding thai?

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