Buying Brand New vs. Older Homes in Bangkok

The high prices of brand new condominium and housing projects are deriving the residential buyers to older homes where they can take on an existing home and refurbish it to make it feel new and shiny.

The prices of some of the condominiums in Bangkok are reaching almost 700,000 baht per sqm and this is becoming a major concern among many people as the prices are being pushed up much higher than the earning capacity of most Thais. The large influx of Chinese buyers followed by Singaporeans and Australians are pushing the prices to all time high.

The average prices for new condominiums in Sukhumvit area near Emporium are reaching 280,000- 320,000 baht which is about 25% higher than the prices of the units sold in 2016. However, some of the older condominium buildings where a cosmetic remodeling may be necessary, the prices are much more affordable at a range of 95,000-180,000 baht.

At Nazeri & Company Co., Ltd we believe that there is bubble in the new home market and the shift of people's mindset to look more at older homes, is a safe way for the bubble to lose its air without a huge decline in prices.

We offer many wonderful properties on our site that we think, it is a bargain compared to the new home prices in Bangkok. Please search for those properties and contact one of our agents for a private showing.

Nuchy Yelum is the managing partner of Nazeri & Company Co., Ltd ( Thailand ) with offices in Bangkok, Hong Kong and Las Vegas. She can be reached at + 66 088-012-1425 or Nucylistings@gmail.com