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Bangkok, after the bomb and property thoughts

My wife was worried. My mother was worried. Actually even I was worried for myself. I no longer worry only for myself. I have to also be fair to my wife, my daughter and my baby boy. However, I think I would like to believe my Thai colleagues, the Thai police and even the Malaysian authority which has not issued any travel ban to Bangkok. What has happened could have happened in many other cities in the world. A deputy sheriff in full uniform was gunned down in broad daylight in US just a week ago. There are many more scarier cases but I think what I would like to highlight is that we should not take higher risks than usual but life should go on. I flew to Bangkok for the second time for a business trip.
Bangkok’s property scene is also building, building and building. Many of the newer ones would be high-rise and many of these are situated nearby or next to malls and I think this is trend seen in Malaysia as well. However, a check with my colleagues revealed that majority of them are travelling to work via public transport and most of the time, they need an hour if not more to arrive to work everyday. Bangkok’s BTS skytrain is their main mode of transport. Some of them drive but according to them, the parking space is not cheap. It’s around RM220 per month after conversion. Perhaps this is because it’s the CBD area. Jams are usual and lasts until 9pm at night. However, if I compare Bangkok to Manila or Jakarta, I felt that Bangkok’s jam is slightly better.
sathonThailand’s property market does have its restrictions. Foreigners are allowed to buy condos BUT the total ownership of the development must not exceed 49%. In other words, if there are 100 units, the maximum number of units that a foreigner can buy would be up to 49 units. This meant that condominiums in certain tourist spots are now left empty as the locals are not interested while the foreigners can’t buy anymore as the limit has been reached. Read more here: Doing business in Thailand  Prices for these condos can be quite high and is definitely not considered affordable. This is the case even when compared to Kuala Lumpur today. Take a look at some of the prices I found in ddproperty.com
Interested to have a home in Bangkok? Well, I sincerely do believe that if the Thai government would like to encourage more foreigners to own a property in Bangkok, the rules may have to be relaxed further. After all, I think one reason for the prices being so high is also because not enough of these were built while the demand for them is high. If these condos were only bought by Thais themselves, then the prices stated above is considered ‘severely unaffordable.’ Happy visiting Bangkok. I think my next trip should be soon. I enjoyed my business trips there thus far. Nice hotel with great prices too.
written on 23 Oct 2015
Next suggested article: Mah Sing’s luxury hotel; Ramada Encore Medini
 

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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