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Archive for January, 2010
Condos/ApartmentsJanuary 29th, 2010
When looking for a condo in Nana or an apartment in lower Sukhumvit there are a wide range of choices. Not just an area for short-term residents looking for extended holidays, Nana also offers luxury condos and large apartments within easy walking distance of Nana BTS station.
So let’s have a look at what is on offer for those seeking a small condo or apartment in Nana. Located in Soi 4 of Sukhumvit, Nana Condo is an older but well maintained building within easy access of the BTS; a one bedroom condo can be rented at just THB 14 000/month for a 40sqm unit.
http://www.easyhomes.tv/property/nana-condo-702w(105)h(120))
However if you are looking for something more in the way of a luxury apartment in Nana, then SM Grande is a great choice. Probably one of the most stylish buildings in the Nana area. This Nana apartment block is once again located in Sukhumvit soi 4 and is a Grade A standard buildings. Facilities are top class and abundant, with a large swimming pool, gymnasium, sauna and Jacuzzi, comfort is certainly art a premium. And the apartments themselves come with full kitchens, solid wooden floors and great furnishings.
http://www.easyhomes.tv/property/sm-grand-nana–143w(105)h(120))
However apartments in SM Grande are not cheap, and Studio apartments start THB 20 000/month and one bedroom apartments start THB 35 000/month.
If you are looking for a condo that is more reasonably priced in the Nana district of Sukhumvit then look no further than the famous Suranjai Mansion, which is a well established condominium in Sukhumvit and popular with many expats who appreciate the varied facilities. Suranjai Mansion features a swimming pool, fitness rooms, gymnasium, games rooms, children’s play area and a range of shops and outlets, which makes the building a very convenient condo in Nana in which to live.
http://www.easyhomes.tv/property/suranjai-mansion-301w(105)h(120))
With good sized one bedroom condo units at 65-70sqm for rent as low at THB 22 000/ month and two bedroom condos for at little as THB 25 000/month, this makes for convenient and practical living.
http://www.easyhomes.tv/property/suranjai-mansion-302w(105)h(120))
Of course possibly the most famous building in the Nana area of Sukhumvit is Omni Tower, located in Sukhumvit Soi 4. This huge mixed use building houses not only a range of Bangkok apartments, but also serviced apartments and condos in Bangkok. At reasonable rates and such a varied selection of residential choices as well as a large range of facilities, this is truly one of the most popular condos and apartment choices in Sukhumvit.
Omni Tower Studios start at THB 20 000/month, whilst the larger Studio Deluxe rooms at approx 65sqm are just THB 25 000/month.
http://www.easyhomes.tv/property/omni-tower-nana–106w(105)h(120))
http://www.easyhomes.tv/property/omni-tower-nana–105w(105)h(120))
Finally if you are insisting on a brand new luxury condo in Nana, then The Prime 11 is just the condominium building you should be looking at. With these one bedroom Nana condos starting at THB 30 000/month, this Grade A building offers a fantastic array of facilities for the more discerning Bangkok condo resident.
http://www.easyhomes.tv/property/prime-11–brand-new-1186w(105)h(120))
Larger sized one bedroom condo units at the Prime 11 in Nana are 57sqm and are priced at THB 45 000/month, which reflects the luxury of the condo.
http://www.easyhomes.tv/property/the-prime-11-nana-1182w(105)h(120))
So living in a Nana condo or an apartment in Nana can be not only exciting living near all the hustle and bustle of this pulsating district, but can also be relaxing, comfortable and luxurious if you are in the correct Bangkok condo or apartment in Nana.
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If you buying a condominium in Thailand for the first time you may not be familiar with the local Thai Property Laws, so here is a brief explanation of what can be expected during a Bangkok condo purchasing process.
Foreign Purchasers of Condominiums in Thailand
Information for foreigner purchasers of condos in Bangkok or Thailand whom are not Thai permanent residents.
Under the Condominium Act 2008 (amended) regarding non-residents of Thailand, foreigners who purchase condominium units in Thailand must remit in funds to pay for the unit from overseas. That means that the entire payment must be transferred into the country to buy the Thai condo or Bangkok condominium as ‘foreign currency’ and not Thai Baht. The beneficiary bank will issue a ‘Foreign Exchange Transaction’ certificate which should be presented to the Thai Land Department in Bangkok when registering the ownership of the Thai condominium.
For each transfer, banks will only provide a ‘Foreign Exchange Transaction’ certificate for amounts over US$ 20,000. For amounts of less than this, the bank will issue a credit note, which may be presented, with the confirmation letter from your Thai bank, to the Land Office in Bangkok order to register the condominium in Thailand.
- In case that you do not have a bank account in Thailand, you can remit the finds directly to the owner of the condominium you are buying or to a third party account, such as a Thai Lawyer or Legal Representative in Thailand.
For the case in question, we thoroughly suggest you transfer the funds to your own bank account here in Thailand and obtain the Foreign Exchange Transaction certificate from the Head Office of the Thai Bank, the Bank’s Head Office is often located in Bangkok. Condominium related certificates and/or credit notes and receipts should all be kept safely, with the letter from the bank in Thailand until the date on which the ownership of the condominium units is transferred.
Payment Procedure:
- To obtain a Foreign Exchange Transaction certificate in Thailand from a Thai Bank, you will have to ensure that all the following instructions are adhered to:
- The name of the remitter must be the same as the purchaser of the Bangkok condo (as indicated in the S & P agreement). Please fill in full name and address of remitter and the beneficiary.
- The money transferred as foreign currency. Please do not convert in Thai Baht before making a transfer. The conversion will be done by the beneficiary bank in Thailand.
- Please indicate in the transfer instructions that the purpose of the transfer is ‘To purchase a Bangkok condominium unit No:…….. at the (name of the Thai condominium building)
Please use the exact wording in order to avoid any misinterpretation by the Land Department of Thailand. For example, the word apartment, a term which is frequently used in other countries, has a different meaning from condominium in Thailand.
- Please indicate overseas and beneficiary charges for each payment.
- Transfer of ownership
Prior to the transfer of ownership, we will inform you of the total amount due, including any minor amenities or utility deposits.
- If the final payment is NOT financed by a bank, then this amount needs to be remitted into Thailand exactly like the previous payments.
- If the final payment is financed by a bank, then this amount needs to be paid by a cashier’s cheque which will be exchanged with the Thai condominium’s title deed on the date of transfer of ownership.
We hope the above information has been useful to you when purchasing a condo in Thailand.
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99% of Condos in Bangkok have a Management team that work in the Juristic Office whom are there to take care primarily of the building and it’s inhabitants, be they condo owner occupiers or just tenants living on short to long term rentals in Bangkok. However unfortunately given the nature of the position they occupy, Juristic Managers and their staff have plenty of opportunity to abuse their power.
Before I go on, I want to make it clear that although we are a Bangkok Property Agency, and yes the power abuse exerted by Bangkok Condo Juristic Managers is detrimental to our business a lot of the time, I am not writing this as a worker for a Bangkok Real Estate Agency, but more as a landlord of a few Bangkok condos. As a landlord I am acutely aware of how the actions of such people forms an unwelcome blockage in the Bangkok Real Estate Market and reduces the chances of landlords renting or selling properties and potential clients finding condos to rent or condos to buy.
So what are the duties of a Bangkok Condo Juristic Officer or Manager?
Juristic Managers and the staff that work with them are employed to run the Bangkok condominium buildings they are stationed at, but what do these duties entail?
- Taking care of the physical maintenance of the building
- Helping residents of the building, where they are renting condos or own the condos they live in
- Organizing any extra utilities or services required by the residents, such as UBC TV installation or Internet Installation
- To organize the repair of any communal or structural features that require extra work, such a swimming pool tiles, or light fittings in the corridor
So how to they get paid?
Well every Bangkok condominium building that employs Juristic Management teams also imposes fees upon the owners and renters in the condominium building. These fees are imposed in two ways:
- Condominium Sinking Fund – this is paid for upon the transaction of the condo unit from the developer to the first owner. Fees for this fund vary, but in the current Bangkok condominium market they are often between THB 500- 600/ sqm that is contained the Bangkok condominium unit the landlord has purchased. This fee is often a one-off payment and unless there is some large condominium structural work that is needed in the future, they are never asked for again.
- Condominium communal Fees – these are different. They are cheaper, but are not only constantly imposed, they can and often do increase over time as maintenance fees increase and damages need to be repaired. Current Bangkok condominium communal fees imposed in the Bangkok Property Market are on average THB 35 – 50/ sqm/ month.
So these Bangkok Property fees are there to pay for not only damage and wear and tear of the Bangkok condos, but also the pay for the Juristic Managers and their team to perform their duties.
So how do they abuse their juristic powers?
Unfortunately given the level of closeness that Bangkok condo Juristic Managers have with the buildings they work in, they can develop a knowledge of the units within the Bangkok condominium building and know exactly when which unit is for sale or for rent or is already occupied.
So how can they use this knowledge to abuse their power?
Landlords and condo owners inform Juristic managers of the current status of their units, in good faith. For example a landlord has a unit available for rent he will inform the Juristic Manager and pass him/ her some contact details such as a telephone number. They do this in good faith that the Bangkok condo Juristic Management team will pass this on to potential clients and Bangkok Property Agents so that they can rent out their condo.
Unfortunately many times Juristic Managers then use this knowledge to their own advantage and do not pass the information to Bangkok real estate agents unless they are given a commission in a possible deal. However this just places a blockage in the system as Bangkok property agents then just show their clients alternative condo units, and so the condominium unit remains empty when it could be occupied and a tenant happy, the property agent happy and the landlord happy.
Of course the landlord is never informed of the loss of this possible client so none the wiser goes on happily paying his/her Bangkok condominium communal fees and does not realize they are partly paying for someone who is indeed hindering their progress of their real estate investment in yielding better results.
So what can be done?
Well you could end up reporting rogue Bangkok condo Juristic Managers to their superiors or the police, and this would be no bad thing for both you and the other residents of the building, as well as the larger Bangkok property market as a whole. However we are of course not expecting you to do this.
An easier and more palatable solution is to make sure that you inform as many Bangkok property agents as possible of the status of your property, and make sure your property is properly exposed to the Bangkok Real Estate market as a whole. This way you will give your self more chance of achieving the objectives and get the returns on investment you want.
Finally do not rely on sole agents as well, as this only makes you vulnerable to losing out due to poor working practices. Let as many Bangkok Real Estate Agencies know the details so that you may get the best possible collective exposure and service from the Bangkok Real Estate Market.
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Condos/ApartmentsJanuary 19th, 2010
Bangkok expats know that there are 3 main areas where Westerners, Japanese people and other nationalities making their home in Bangkok congregate and they are Silom, Sukhumvit and Sathorn.
These three areas are traditionally the most popular international areas and therefore have been the Bangkok districts that have seen the greatest number of Bangkok condos and Bangkok apartments on the market.
Most expats have also demanded the convenience of having their condo or apartments within close proximity to an international standard hospital in Bangkok such as Samitivej on soi 49 of Sukhumvit, or Bangkok Hospital on Petchburi Road and shopping plazas such at The Emporium and Siam Paragon, two of the best shopping malls in Thailand.
However with the city center of Bangkok expanding some expats in the last 3-4 years have looked for an alternative and have found it in Ari, the northerly district of Bangkok close to Sanam Pao and Saphan Kwai districts. Whilst still on the BTS Sky-Train therefore affording residents the convenience of the Bangkok metro system, and therefore has become a great place to rent in Bangkok.
Ari district is a high-end desirable district of Bangkok with an arty and slightly bohemian feel, and so attracts Bangkok expats whom are artistic and perhaps connected with the media industries in Bangkok.
Bangkok property developers have noticed this surge to Ari and have obliged by building some iconic and high-quality condos in Ari that have style and quality.
Taking a look at some of the best condos that have drawn people to Ari we will start with Villa Rachakhru, built by TCC Capitalland and located in Soi Rachakhru, a low-rise and chic condominium building with fewer than 80 units, really gives this condo building a feeling of intimacy.
With one bedroom, two bedroom and three bedroom units, Villa Rachakhru caters for a large section of the market. Ranging from THB 25 000/month for a 55sqm rental unit, these are spacious and well laid-out with floor to ceiling windows in the main room and bedrooms.
One Bedroom Condo at Vila Rachakhru, Ari
http://www.easyhomes.tv/property/villa-rajakhru-ari–152w(105)h(120))
The two bedroom units are equally well designed and are found on the corners of the buildings so the master bedroom can enjoy a wrap around window design, giving residents a great view of the district of Ari. Making Villa Rachakhru trulu one of the best designed condos in Bangkok within the last 5 years.
Two Bedroom Condo a Villa Rachakhru, Ari
http://www.easyhomes.tv/property/villa-rajakhru-ari–153w(105)h(120))
Also on the top floor of the 8 storey condominium building there are 3 bedroom units with high-ceilings, up to 5m high in some areas.
Three Bedroom Unit in Villa Rachakhru, Ari
http://www.easyhomes.tv/property/villa-rajakhru-ari–154w(105)h(120))
Probably the most obvious condominium building in the Ari are of Bangkok is Noble Lite, which is within 5 mins walk of the Ari BTS station, making this condominium building not just attractive, but also practical.
At present this is the only modern high-rise structure in Ari and so those who are renting units in the high-floors are afforded breathtaking views of the northern Bangkok districts.
Noble Lite has Studios through to 3 bedroom units, and each and every unit has a bathtub in the bathroom, which is a pleasant addition to the Studio unit.
Studio Condo at Noble Lite, Ari
http://www.easyhomes.tv/property/noble-lite-246w(105)h(120))
One bedroom condos at Noble Lite are also highly desirable, with large windows, high floors and great views, at just THB 22 000 Baht/month these are great value.
One Bedroom Condo at Noble Lite, Ari
http://www.easyhomes.tv/property/noble-lite-706w(105)h(120))
Finally a forgotten gem in Ari is often Centric Place Ari, a building often overshadowed by its more prominent cousin Centric Scene, this tranquil Bangkok condo offers residents a personal and relaxed environment.
With the standard high-end facilities found in all the above Bangkok condos mentioned here, Centric Place Ari has as a swimming pool, gymnasium, fitness room, car parking, security and sauna.
Offering Studio condos up to three bedroom condos Centric Place covers a large part of the Bangkok property market.
Studio Condo at Centric Place, Ari
http://www.easyhomes.tv/property/centric-place-113w(105)h(120))
One Bedroom Unit at Centric Place Ari
http://www.easyhomes.tv/property/centric-place-114w(105)h(120))
Two Bedroom Unit at Centric Place Ari
http://www.easyhomes.tv/property/centric-place-1029w(105)h(120))
So as can be seen, for those wanting to live away from Sukhumvit, Silom and Sathorn, there is indeed a realistic and attractive alternative, and that alternative in Bangkok district of Ari.
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Condos/ApartmentsJanuary 16th, 2010
Phrom Phong is famous for having lots of high-end top quality condos and apartments. In fact some of the most famous and most expensive Sukhumvit apartments and condos are found in this area.
Here are a few examples of the sort of condos and apartments we are referring to:
The Madison, located in Sukhumit soi 43 this condo offers easy access to both The Emporium shopping center, and Phrom Phong BTS station, both within a 3-4 minute walk of this luxury Bangkok condominium building, no wonder large two bedroom units go for THB 80 000 – 100 000/month.
http://www.easyhomes.tv/property/the-madison-phrom-phong-1199
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Emporio Place, situated in Sukhumvit soi 24 is a brand new condo building in the same road as The Emporium and has great access to Rama IV and other sub-sois including Sukhumvit Soi 22 – soi 16. This condominium is one of Sukhumvit’s most stylish and best quality, and a two bedroom duplex unit will make this condo an expensive rental in Bangkok at THB 100 000 for 120sqm.
http://www.easyhomes.tv/property/emporio-place-phrom-phong-1200
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And it is not just condos in Phrom Phong that are expensive, also the apartments in mid-Sukhumvit are expensive. Anyone who knows about central Sukhumvit knows that it is very Japanese area, with many Japanese restaurants, Japanese shops and apartments catering for Japanese clients. And Baan Jamjuree, which is a fantastic Bangkok property, with great views and facilities and is almost always full with Japanese and American expats who appreciate high-quality.
http://www.easyhomes.tv/property/baan-jamjuree-26
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These properties are all great condos and apartments in Bangkok, but unless you have THB 60 – 70 000/month minimum to spend on your rent, then they cannot be considered.
However there are still some Bangkok property bargains to be had in this area of Sukhumvit. So what are these great Sukhumvit property bargains?
We let’s start with apartments in Phrom Phong that offer tenants excellent value for money, as the locations and quality are high-end whilst the prices remain mid-end.
El Patio is a great Central Sukhumvit condo within a walk of the Phrom Phong BTS station, this 18 month old Bangkok apartment block can also allow residents to access the Asoke BTS station and many Sub sois including access to Phetchburi Road.
El Patio is a Spanish Style apartment block offering apartments ranging from Studio type to 3 bedroom apartments. The Studio apartments located on the high floors of this low-rise building offer great views of Phrom Phong and are great value at THB 15 000/month including a washing machine.
El Patio also has one bedroom units on the lower floors with a generous 60sqm of living space and at just THB 15 000/month, these have to be the best value apartments in Sukhumvit.
http://www.easyhomes.tv/property/el-patio-823w(105)h(120))
Arguably equally good value are the two bedroom 80sqm apartments which are great value Bangkok rentals at just THB 20 000/month. With a full kitchen area with a 4 ring stove, oven and washing machine, these are really the complete package for a family wanting to live in mid-Sukhumvit.
Larger again are the apartments with pool views that have access to the large terrace area or ‘Patio’, these units start at THB 30 000/month and have 90 – 120sqm depending on your choice of unit and availability.
http://www.easyhomes.tv/property/el-patio-63w(105)h(120))
Another great apartment in the Phrom Phong area is Promsak Mansion, again offering well maintained and attractive apartment units in central Sukhumvit. A duplex two bedroom apartment offering over 100sqm of living space can be rented in Bangkok for as little at THB 25 000/month.
http://www.easyhomes.tv/property/promsak-mansion-566w(105)h(120))
Finally moving on to condos in Bangkok’s central Sukhumvit district of Phrom Phong, Condo One X offers great value for money. With 50-55sqm one bedroom units for only THB 25 000/month, this Phrom Phong condo is brand new with a great modern style and atmosphere, this is truly an excellent choice for a youthful bachelor or bachelorette looking for a high-end lifestyle in Bangkok.
http://www.easyhomes.tv/property/condo-one-x-515w(105)h(120))
So to sum up, although Phrom Phong is a highly desirable and expensive district in Bangkok, with knowledge and expertise there are Bangkok bargains to be had!
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