by kevinyeo | Oct 28, 2018 | Questions and Answers
Question: How To Select A Good Unit In A Development?
Answer:
One of the things we share with our clients will always be to buy the highest floor possible. This is because when you decide to resell and you wish to ask for a higher price, it will be easier to justify. For a lower floor unit asking for a selling price higher than that of a higher floor unit, you will very likely be deemed overpriced.
Moreover, all thing being equal, a higher floor unit will also more likely to be able to secure a tenant easier than the lower floor units.
You might also want to be aware of certain floor levels or unit numbers. Some buyers are rather superstitious and would want to avoid certain numbers. So if you wish to appeal to the largest possible pool of buyers, especially the Chinese, then do be aware of the unit selection.
13 is considered an unlucky number in Thailand.
Units at the corner or near the corner are more desirable because of the privacy it offers. Similarly, try to avoid units directly facing the lift lobby.
Last but not least, look out for unique features that may give you an edge because of the differentiating factors. Some example would be a balcony, lofts, etc.
You should also make an effort to doll up your unit so it can stand out from the rest. The cost of doing so is minimal but doing so can help give your property a wow factor.
We do get clients contacting us, asking us about how to go about selecting a good unit. We are happy to assist you in this aspect so do feel free to get in touch with us.
You can reach us at [email protected] and [email protected]
by kevinyeo | Oct 24, 2018 | Questions and Answers
Question: Are Condominiums In Rama 9 A Good Investment?
Answer:
Rama 9 or Phra Ram 9 has been 1 of the investment hotspot in Bangkok recently. There is an MRT station with the same name so getting there is rather easy.
Rama 9 is beginning to become an extension of Bangkok’s central business district. The stock exchange of Thailand has relocated nearby and you can now see many prime offices in Rama 9. Many MNCs have already made Rama 9 their home.
Rama 9 is also 2 stations away from Asoke and only 1 station away from Makkasan, where you can link to Suvarnabhumi Airport directly.
A lot of the expatriates and the Thais who are working nearby are fueling the demand for residential rental in the nearby places.
Rama 9 would be 1 of the locations in Bangkok that you can find tenants rather easily.
When the right opportunity comes along, Rama 9 will definitely be one of the better locations to invest in currently.
Got a question? You can reach us at [email protected] or [email protected]
by kevinyeo | Oct 21, 2018 | Questions and Answers
Question: Is there any difference between buying directly from the developer or through an agency?
Answer:
It may be a good idea to buy through the agency as they are usually also capable of assisting you with your after sales and rental after the property is completed.
The developer sales staff are there for solely one reason. To sell you the property of the show flat you are in. We would tend to think that they are less impartial.
We have got a lot of clients coming to us asking about a particular property in Bangkok only to discover better options available through our recommendations.
If both the developer and agency are getting you the same price for the property, it will be a better idea to find someone who is well versed with the Bangkok property market, responsive and has the ability to provide after-sales service.
It will make your life a lot easier in time to come.
Got a question for us? You can reach us at [email protected] or [email protected]
by kevinyeo | Oct 17, 2018 | Questions and Answers
Question: What Are The Payment Schemes Available When Purchasing Bangkok Property?
Answer:
Currently, for buying a condominium directly from developers, deferred payment is widely practiced. There is no fixed formula so it will differ from developer to developer.
Usually, buyers will pay an amount of about 20% to 30% of the property value to the developer upon booking of the unit. The remaining amount will be payable upon the completion of the construction of the condominium.
For example, if you buy a condominium for THB 6,000,000, you will be required to pay THB 1,500,000 (assuming 25%) upfront. This money is to be transferred directly to the developer account. This has to be in cash only.
For buyers intending to secure a loan for the purchase of their property, they can only do so nearing the completion of the property. And the loan is only applicable for the balance 75%.
Do you have questions regarding investing in Bangkok properties? Do connect with us at [email protected] or [email protected]
by kevinyeo | Oct 16, 2018 | News
Property developer Siamese Asset Co is unconcerned about the central bank’s loan-to-value (LTV) limit on mortgage lending, as it already collects a down payment of 20% of the unit price.
It plans to launch two new condo projects worth a combined 10 billion baht in the next two months.
Managing director Kajonsit Singasansern said the new requirement for LTV ratio of 80% the Bank of Thailand asked financial institutions to comply with from Jan 1, 2019, will have no effect on the company’s existing or new customers.
“We have collected a down payment of 20% at our condo projects for many years, so we don’t need to be worried about this new rule,” he said. “It only hurts our competitors.”
There was one project, Blossom Condo @Fashion, where the company collected a down payment of 15% of unit price because the project was in the lower-priced segment, in which most buyers were first-time purchasers.
Last Thursday the central bank announced it would require home buyers to make a down payment of at least 20% of the home value for new mortgages worth at least 10 million baht, as well as for second homes.
“We will continue with our policy of 20% down payment at our new projects as most of them are high-priced, where buyers have strong purchasing power and can pay a high down payment,” Mr. Kajonsit said.
Next month Siamese Asset plans to launch a new luxury condo project, The Collection, worth 4.8 billion baht. It will be located on a 2.1-rai plot on Ratchadaphisek Road, opposite Benchakiti Park.
The project comprises 443 units sized between 33.8 and 135.35 square meters and priced at 6.2-45 million baht a unit, or 240,000 baht per sq m on average. It plans to offer a guaranteed yield of 5% for two years.
The project targets both real demand and investors, estimated to account for 60% and 40% of buyers, respectively, and aims for 70% presales on the launch date.
By year-end, Siamese Asset plans to launch a mid-priced condo worth 5 billion baht located on 2.5 rai near Ratchadaphisek subway station. It comprises three towers with 600 units.
source: https://property.bangkokpost.com/news/1555010/siamese-asset-shrugs-off-ltv-regulation
