whats the best place in thailand to buy investment property for rental?

[asiawood]

I am considering buying a condo in Bangkok or Pattaya.

 

I am looking to rent it out.

My main concern with this investment would be consistently being able to rent it out. Of course I would like a high monthly rental rate also. Where would you recommend, what target market (vacationers in pattaya versus long term renters in bangkok )

 

would not want to spend more than 3 million baht

 

The collective knowledge on this website is pretty amazing and would appreciate any good info on specifics, general process, etc. Thanks!

[asiawood]

I don't mind buying where there has been a real estate bubble as long as I know I can get a high consistent income from the property. I can wait for a rebound in the market if I am paid to wait.

 

That's why I am thinking a condo rented to long term renters in bangkok would be "safer", but maybe a condo near the beach in pattaya or jomtien would be fairly safe and more profitable? I guess that's what I'm asking.

[badboybilly]

I seriously started to look back in 2008........the real estate agent was a young British guy....keen as mu stard to sell me a condo...young goodlooking......suave...im sure he would of even offered to jump into bed with me if I bought a condo...and im not joking.

 

Lo and behold I saw him 2 years later working in a coffee shop in Sydney.

 

AnYWAY I somehow decided Jomtien had too many condo'.......1.5 mill baht condo returned 6-8000 b back per month...and other owners were offering free cable with their rentals too.

One building manager told me...after i paid/tipped him.........that the buildi ng was soon having a special levy to cover roof repairs.

 

I dont know now...4 years later in Jomtien...is there more tenants to fill the ever growing condo's.

 

I thought a shophouse would get a better return

Edited February 14, 2012 by badboybilly

[jocky king]

Be aware , Loads of empty Condo in Pattaya, Very hard to rent out long term, Dont know about Bangkok, And they are still building new condos all the time in Pattaya .... Strange.

[badboybilly]

yes.....how many want to rent in Jomtien

[dc_publius]

During the peak of the bubble in the US, in the peak areas of the bubble like Vegas, Miami, I have never seen nearly as much frenzy, buildup, and condo selling as in Pattaya. You drive down some roads, and it is Billboard after Billboard after Billboard advertising new developments. Pattaya is changing for sure, and it is growing, but it will take a lot of growth to accommodate all that new - additional - supply.

 

On top of that, condos are inherently poor performers because of their structural limitations - and obligations. Low condo fees = very high assessment when something expensive needs to be fixed. I also heard that Thais are not too keep on buying used condos.

 

If they performed all that well under rent arrangements, developers would be developing hotels instead of selling condos.

 

You should probably look in your home country first. The you-know-who is gonna die any day and the future is as uncertain as ever for foreigners in Thailand.

 

If I had to buy, I would look at metro expansion plans in BKK and buy a used condo as close to future station as possible. At the very least, try to buy used.

[badboybilly]

yes me tooo........BKK ..........what about shophouses especially LK Metro...must be good to buy.