Hua Hin Condo Owners Fined For Short-Term Rentals

Hua Hin Condo Owners Fined For Short-Term Rentals

HUA HIN, Prachuap Khiri Khan: The Hua Hin Provincial Court has ordered owners of two luxury condominiums in Hua Hin resort district to pay fines worth nearly 30,000 baht for leasing their residential units on an illegal short-term basis to Thai and foreign tourists.

Under the 2004 Hotel Act, violators can be jailed for one year and/or subject to a fine of up to 20,000 baht and a daily fine with a maximum value of 10,000 baht.

However, because the plaintiffs, whose names were withheld, confessed, the court agreed to reduce their penalties, Rutprathip Thamraphiphat, chief of Hua Hin district told the media on Saturday.

The ruling followed an inspection of three units in a Wan Wela Hua Hin Khao Tao condominium in Hua Hin last December which found their owners illegally leasing them out on a temporary basis.

The owners were divided into three cases. Two of them were settled on Saturday while the other is still being investigated, according to Mr Rutprathip.

In the first case, the defendant was fined 5,000 baht and has to pay another 500-baht daily fine for 20 days, which is equal to 10,000 baht in total.

The 5,000-baht fine was also imposed in the other case, together with a 100-baht daily fine for 81 days, which amounted to 8,100 baht.

“The wrongdoers leased the units to Thai and foreign tourists, charging them at both daily and weekly rates, without licenses,” Mr Rutprathip said.

He led the search of the three rooms amid reports some owners were advertising their units on social network sites.

The condominium is located on a 20 rai of land in Soi Hua Hin 101 in an area of tambon Nong Kae.

Citing an initial investigation, Mr Rutprathip said he believed “up to 90%” of owners had bought their units in order to offer lucrative short-term rentals to tourists.

The issue came to light following a dispute between the condominium operator and unit owners, in which the operator insisted that all rentals must be for a period greater than 30 days.

Condo Prices Surge 40% in Thong Lor

Condo Prices Surge 40% in Thong Lor

Condominium prices on Sukhumvit Soi 39 and the Thong Lor area have surged by 40% over the past five years.

Thong Lor also takes the cake for the highest rental costs in Bangkok at 1,000 baht per square meter per month, reported property consultant Nexus Property Marketing Co.

Managing director Nalinrat Chareonsuphong said the company, after compiling data on newly-launched condominiums in central locations in the capital, had found that property prices have risen continuously due to an insufficiency of land for development and high demand both from Thai and foreign investors. Hence, new projects tend to pull high returns from either sales or rent.

Price

The Nexus survey found property prices on Sukhumvit Soi 39 and in the Thong Lor area had posted the highest increase over the past five years, rising 40% from 183,000 baht per sqm to 255,000 baht per sqm. Meanwhile, prices in the Rachada-Rama IX area and Ekamai surged 34% and 30%, respectively.

Condominium prices near the city centre, such as the beginning of Phahon Yothin Road, Phaya Thai, and Thon Buri have also increased by 13-26% over the last five years.

In the first quarter of 2018, the average price of newly-launched high-end and luxury condominiums in inner Bangkok and its environs was 208,600 baht per sqm. The Sukhumvit 39-Thong Lor location registered the highest price at 315,000 baht per sqm, followed by Chidlom and Langsuan at 262,000 baht per sqm and Sathon (243,000 baht per sqm).

Rental costs

The average cost to rent high-end condominiums in inner Bangkok and surrounding areas is 754 baht per sq m per month. The rental rates in Sukhumvit Soi 39-Thong Lor, Langsuan and Sathon are 1,000, 955 and 823 baht per sqm per month, respectively. Most tenants are Japanese, European and Americans who work in the Bangkok’s central business district.

Meanwhile, the rental rates of high-end condominiums in inner Bangkok and surrounding areas range between 526-800 baht per square meter per month. The highest rental cost goes to the Ekamai and Phaya Thai areas, respectively. The rental rates in Rachada–Rama 9 and Thonburi are lower than other areas because most tenants are Thai and other Asian nationalities, except Japanese, who also work in Bangkok.

Rental rates per sqm for one-bedroom and two-bedroom units in the city centre are more or less the same, with prices for the latter only 1-2% higher.

For central locations like Thonglor, Langsuan, and Sathorn, rent ranges from 43,000-52,000 baht per month for a one-bedroom unit and 65,000-82,000 for a two-bedroom unit. For central locations, the rental rate ranges from 19,700-33,000 baht per month for a one-bedroom unit and 33,500-54,600 baht per month for a two-bedroom unit.

Return on Investment

When comparing the return on investment in condominiums over the past five years, the survey found that when it came to buying a condominium in 2013 and renting it out, an investor would get a 6.1% return per annum. Ekamai retained the highest yield at 7.7%, followed by Phahon Yothin (7.2%), Thong Lor (6.6%) and Langsuan as well as Phaya Thai (5.6%), respectively.

Investing in condominiums not only gives investors an annual return from renting, but also generates capital gains from sales, as the prices regularly climb. The return on investment for the overall luxury market has been relatively high over the past five years. Thong Lor gives the highest total return on investment at 66% from rent and sales, followed by Ekamai (61%) and Rachada-Rama IX (58%). The average return on investment has been 50% over the last five years.

Although condominium prices have continued to increase, the location that gives the highest return per year for condominium investment is Thon Buri at 5.4%, followed by Ekamai (5.2%) and Phahon Yothin (4.9%).

Trend

The overall condominium price is forecast to increase 8-10% per year over the next three years. Condominium prices in the city centre are projected to rise 12-15%. For areas surrounding inner Bangkok, the annual yield will be higher in the short term, while investing in a condominium in inner Bangkok itself may provide higher capital gain from sales.

Therefore, the total return on investment from condominiums both in inner Bangkok and surrounding areas will more or less be the same.

The key factors that buyers should consider before purchasing a condominium are good management and building maintenance.

Runesu Thonglor 5 – Japanese Function And Lifestyle

Runesu Thonglor 5 – Japanese Function And Lifestyle

Arguably the heart of Thonglor is the best neighborhood to live in Bangkok. The Thonglor streets have a homely feel to it and are yet only steps away from the best of schools, after-school classes, cafes, restaurants, pubs, malls, and supermarkets.

In this review, we take a look at a development called Runesu Thonglor 5, a low rise condominium project, jointly developed by Woraluk Property Plc and  Shinwa Group under the company W-Shinwa. 

 

The Developer

As this is their first foray into the Bangkok property scene, it is normal if you have yet to hear of this developer. Headquartered in Osaka, Shinwa Group is a Japanese conglomerate which has been around since 1890.

Shinwa Group covers property development, construction, architecture, property management, hotel and serviced apartment, spa, fitness, car parks, old-age homes and sigma beam manufacturing.

In mid-2016, it established W-Shinwa Co with a registered capital of 270 million baht, where Shinwa Development Thailand Co holds a 51% stake and property developer Woraluk Property Co, owned by Wichai Poolworaluk, holds 49%.

 

Project Information

PROJECT NAME : Runesu Thonglor5
PROJECT AREA : 0-3-91 Rai (1,564 sq. m.)
PROJECT TYPE : Low Rise Condominium, 8 Storeys, 1 Building
NUMBER OF UNIT : 156 Units
UNIT TYPES : 1 Bedroom , 2 Bedrooms
NUMBER OF CAR PARKING : 84 Parking lots
FACILITIES

 

 

: Runesu Lobby, Original Japanese Onsen, Japanese Garden, Jet Swimming Pool, Sauna Rooms,

Golf Driving Room, Fitness, Rooftop Garden, Japanese Cable TV, Fiber Optic WiFi, Security Guard,

CCTV, Key Card Access, Digital Door Lock, Shuttle Service, Mail Room

OWNERSHIP TYPE : Freehold
CONSTRUCTION START : Q3 2017
EXPECTED COMPLEMENT : 18 months after construction started

 

The Location

Staying in Thonglor, having access to amenities is the least of your concern. Just stepping out of your house, you will be able to get to well-known places like:

  • Kindergarten: The Purple Elephant and Kid’s Kingdom
  • International Schools: Wells International and American School Of Bangkok
  • After School Classes: Helen Doron, Pink Ballet, Math Monkey
  • Japanese Supermarkets: Max Value and Fuji
  • Nihonmura Mall, Bangkok’s little Tokyo
  • Emquatier Shopping Mall, one of Bangkok’s largest mall
  • Bangkok’s finest restaurants
  • Over 10 reliable pilates and yoga studios and gyms.

It’s a 10-minute leisurely walk to Thong Lo BTS.

Minutes walk to Thonglor Soi 10, a place famous for the clubs and nightlife for locals and expats with high spending power.

Maze Thonglor Community Mall

Nihomura Mall

J Avenue

And the list goes on and on.

Located on Thonglor Soi 5, Runesu Thonglor 5 is set within the residential enclave, away from the hustle and bustle of the main Soi 55 road.

 

The Development

Shinwa Group as a developer uses innovation to differentiate their development projects from the rest. The Runesu concept, using the proprietary Sigma beam, increases the usable area of the property.

There also Onsen in the development, an attraction for Japanese tenants.

The parking is Auto parking down to 3 levels underground, parks 84 cars or 54%.

The project may look ordinary from the outside but once you step in, it has the atmosphere and aura of Japanese living. IAO TAKEDA is a leading Japanese design company that has won awards for many consecutive years.

With the Runesu concept, Shinwa is able to create an additional 60cm in the floor to ceiling. This allows the unit to have additional living space.

The onsen is really a unique and much-welcomed feature that is hard to find in other developments.

The Runesu function is available to the units of the first 2 levels of the development.

The unit will come fully furnished.

Runesu Type A1 is a 49.43 square meter room. You will come to Genkan or the front hall. There is a shoe cabinet. Next to a 4-seater dining area behind the dining table is a bedroom with a Den & Loft area next to it. The bathroom is dry and wet. Bathtub with The bathroom can be accessed from the bedroom and living room. The bedroom has a wardrobe space and a vanity at the end of the bed.

Conclusion

Looking at the facilities such as Onsen, golf driving room plus the fact that Shinwa chose Thonglor to build this property, it is clear that they are targetting the Japanese niche.

The layout of the rooms are good and they pay good attention to the quality of the finishing.

I have no reason to doubt that Runesu Thonglor 5 will be popular amongst tenants when it is completed. In fact, this is also a good place to stay if you want a holiday home in Bangkok.

If I have to pick a fault, it would be that the property to Thonglor BTS is still a good 900 meters. I personally do not consider any property more than 500 meters to be walkable on a daily basis. Not if you are in a rush. Not a deal breaker though, as there will be shuttle service available to the BTS.

 

If you would like to have more detailed information on Runesu Thonglor 5, such as the brochures, floor plans, pricing, and availability, please developer sales website here. 

 

The ESSE Sukhumvit 36

The ESSE Sukhumvit 36

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The ESSE Sukhumvit 36 by Singha Estate

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The ESSE Sukhumvit 36 by Singha Estate

The ESSE Sukhumvit 36 is a condominium project, developed by Singha Estate. It is located 1 minute from Thong Lor BTS Station. The condominium is in fact right next to the BTS Station and has easy access to the rest of central Bangkok. Thong Lor is an area in Bangkok which is extremely popular with Japanese expatriates, corporate tenants and wealthy Thais. There are many high-end restaurants and establishments in this area.

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The ESSE Sukhumvit 36 Location Map

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Visit The ESSE Sukhumvit 36 developer sales website:

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The Esse Sukhumvit 36 developer sales website

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Visit The ESSE Sukhumvit 36 Facebook Page:

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Related articles about The ESSE Sukhumvit 36:

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Coming Soon!

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Related videos about The ESSE Sukhumvit 36:

[/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_1″ layout=”1_1″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_separator style_type=”none” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” sep_color=”” top_margin=”20px” bottom_margin=”20px” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” /][fusion_button link=”https://www.youtube.com/c/InvestBangkokProperty?sub_confirmation=1″ text_transform=”” title=”” target=”_blank” link_attributes=”” alignment=”center” modal=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” color=”custom” button_gradient_top_color=”#ff0000″ button_gradient_bottom_color=”#ff0000″ button_gradient_top_color_hover=”#ff0000″ button_gradient_bottom_color_hover=”#ff0000″ accent_color=”” accent_hover_color=”” type=”” bevel_color=”” border_width=”” size=”large” stretch=”default” icon=”” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” border_radius=””]Visit the Invest Bangkok Property YouTube Channel for all our videos[/fusion_button][fusion_separator style_type=”none” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” sep_color=”” top_margin=”20px” bottom_margin=”20px” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” /][/fusion_builder_column][fusion_builder_column type=”1_1″ layout=”1_1″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_youtube id=”#” alignment=”” width=”” height=”” autoplay=”false” api_params=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” /][fusion_separator style_type=”none” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” sep_color=”” top_margin=”20px” bottom_margin=”20px” border_size=”” icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” /][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container hundred_percent=”no” hundred_percent_height=”no” hundred_percent_height_scroll=”no” hundred_percent_height_center_content=”yes” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=””][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_code]W2luc3RhZ3JhbS1mZWVkIGluY2x1ZGV3b3Jkcz0iI3RoZWVzc2VzdWtodW12aXQzNiJd[/fusion_code][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

Runesu Thonglor 5

Runesu Thonglor 5

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Runesu Thonglor 5

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About Runesu Thonglor 5

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Runesu Thonglor 5 is a condo project developed by W-Shinwa Co., Ltd., Runesu Thonglor 5 has 8 floors and contains 156 total units, Units range from 1 bedroom to 2 bedrooms. Runesu Thonglor 5 at Phra Khanong Nuea, Watthana has the following facilities: CCTV, fitness, garden, security, swimming pool and wi-fi. Local amenities include hospitals such as 4bclinic Thonglor and Intermed Hospital, schools such as Bangkok Language School and Little Explorers, shopping centres such as 953 Community Mall, Kai Salon Thonglor and makro food service, restaurants such as Sushi Kanda, Takiang Thai Restaurant and Maki On Fifth, and the public transport stations of Khlong Tan, Asok and Sukhumvit 71.

Unit Types:

1 Bedroom Type (Approx 29-46)
2 Bedroom Type (Approx 51-75)

Details of Units:

1st Floor (Runesu Room) – 12 Units
2nd Floor (Runesu Room) – 18 Units
3rd-8th Floor- 21 Units

Facilities:

  • Runesu Lobby
  • Original Japanese Onsen
  • Japanese Garden
  • Jet Swimming Pool
  • Sauna Rooms
  • Golf Driving Room
  • Fitness
  • Rooftop Garden
  • Japanese Cable TV
  • Fibre Optic Wifi

Construction Start: Q3 2017

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Location Map

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DOWNTOWN LIVING

FREEHOLD LUXURY

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THONG LOR

PRIME RESIDENTIAL AREA

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SPACIOUS

WELL THOUGHT OUT LAYOUT

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ATTRACTIVE TERMS

FLEXIBLE PAYMENT SCHEMES

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Project Perspectives and Showflat Photos

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animation_offset=””]https://investbangkokproperty.com/wp-content/uploads/2018/05/Runesy-Thonglor-5-Lobby.jpeg[/fusion_imageframe][/fusion_builder_column][fusion_builder_column type=”1_4″ layout=”1_4″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_imageframe image_id=”1837″ max_width=”” style_type=”none” stylecolor=”” hover_type=”none” bordersize=”” bordercolor=”” borderradius=”” align=”center” lightbox=”yes” gallery_id=”” lightbox_image=”” alt=”” link=”” linktarget=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” animation_type=”” 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YOU CAN REQUEST A COPY OF THE BROCHURE, FLOOR PLANS AND PRICE LIST BY FILLING UP THE WEB FORM BELOW.

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The InvestBangkokProperty.com advantage.

Why buy through us?

You will get the DIRECT DEVELOPER SALE PRICE as well as any available exclusive partner discount.

You will get AFTER SALES SERVICE if you are looking to resell your property.

You will get PROPERTY MANAGEMENT SUPPORT in renting and maintaining your property.

You will get assistance in VISA APPLICATION if you wish to live, work and retire in Bangkok.

You will get assistance in OPENING A THAI BANK ACCOUNT.

We have offices in Bangkok, Singapore and Hong Kong and have an extensive network of agency partners in Bangkok. We can assist in reselling and renting your unit when you purchase through us. We have over 500 clients and have been dealing with Bangkok properties since 2012. Our clients come from Singapore, Hong Kong, China, Malaysia, Japan and many other countries. 

If you are keen on purchasing a condominium in Bangkok, you can contact us.

You may write to us at [email protected] or contact Kevin at +65 98283196 (Call/ SMS/ Whatsapp) or Line ID: kevinyeo

Contact Numbers:

Singapore

Office: +65 6871 8839
Mobile: +65 9828 3196

Hong Kong

Office: +852 5801 0000

Email:

[email protected]

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