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coralia

Vieng Ping Condominium?

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I was looking at some real estate listings and I noticed several studio apartments for sale in Vieng Ping Condominium... Does anybody know anything about this place? Is it a good place to live? And by the way, why is it that studios in this condominium, and others in the same area, Huay Keaw (like Nakornping), are considerably cheaper than studios in Hillside4?... I am interested in this area, but I am afraid of investing in the wrong place...

Thanks for any advice.

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Most people I know in Chiang Mai are dumping condos that are in older buildings in favor of new ones that are coming up. Vieng Ping Condominium is an older building that has a lot of renovation activity lately. To each his own, but I would not buy there, or any of the older condos in that area.

I know a farang owner who had a nice large unit in HS4 and he tried hard to sell it because he bought a unit in the quiet area far from the noisy of bars, all night singing, etc outside his HS4 unit.

Of course, I can't tell you what to do. Many folks who live in HS4 and that area will not be happy if I say anything that exposes the weakness of the market in that area.

If you want to live in an old building with a bunch of small renovated units in high traffic area with noisy bars, then that area might be fine for you.

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Why buy when you can rent and move out when things go bad? I rented at Vian Ping for two years and moved out when they closed the pool. My friend at Hillside 4 has had his place for sale for years.

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peaceblondie has it right

Why buy when you can rent and move out when things go bad?

ive moved four times in 5 years because of noisey people , dogs , chickens , etc that wernt there when i moved in

rent monthly so you can easily move !

dave2

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Not in your preferred area, but check out Peaks Garden (1 year old) and Twin Peaks near corner Changklan and Sridonchai. Excellent location (for some) and very quiet.

There are many condos for sale for the same reasons as previously stated in this Forum. We all know the downward pressures on the property market at the moment and probably for the next 5 years or so. I am almost certain that there are some very keen prices at Peaks Garden now.

I rent a lovely little studio here now with pool and gym and proper 24 hour security (they actually stay awake most of the time...) :)

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I also agree with Peace Blondie... why buy when you can rent relatively cheaply. One thing I've learned in the 14 years I've been coming to Thailand is to never invest in something that you can't just walk away from and accept your losses with few regrets. That includes relationships.

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I agree with all of the others in favor of renting. You can only own a condominium here. I've met people who bought condos, then they became run down or an all night bar opened next door and some of the people have been trying for years to sell them for less than they bought them for. Why bother?

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Not in your preferred area, but check out Peaks Garden (1 year old) and Twin Peaks near corner Changklan and Sridonchai. Excellent location (for some) and very quiet.

There are many condos for sale for the same reasons as previously stated in this Forum. We all know the downward pressures on the property market at the moment and probably for the next 5 years or so. I am almost certain that there are some very keen prices at Peaks Garden now.

I rent a lovely little studio here now with pool and gym and proper 24 hour security (they actually stay awake most of the time...) :)

Twin Peaks? bankrupt? lots of problems I here from the 'peaks' places - buyer beware

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I agree with all of the others in favor of renting. You can only own a condominium here. I've met people who bought condos, then they became run down or an all night bar opened next door and some of the people have been trying for years to sell them for less than they bought them for. Why bother?

Why bother? I own several condos and rent them out at 7/8% net and 10/11% gross

No tax

No ATM charges

No exchange rate issues

Local currency income

I just rent out to you guys who don't like buying - thanks :) - I get my return within 10 years and have local income - every year my investment goes down in real terms - renting? throwing money away in my view.

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Most people I know in Chiang Mai are dumping condos that are in older buildings in favor of new ones that are coming up. Vieng Ping Condominium is an older building that has a lot of renovation activity lately. To each his own, but I would not buy there, or any of the older condos in that area.

I know a farang owner who had a nice large unit in HS4 and he tried hard to sell it because he bought a unit in the quiet area far from the noisy of bars, all night singing, etc outside his HS4 unit.

Of course, I can't tell you what to do. Many folks who live in HS4 and that area will not be happy if I say anything that exposes the weakness of the market in that area.

If you want to live in an old building with a bunch of small renovated units in high traffic area with noisy bars, then that area might be fine for you.

H4? I own a unit there and never had a problem - great reception - great security - great location - no noisy bars - all night singing? where do you get that from? i think there may be ONE side of H4 which is overlooking the barbeque gig - but no one buys that side - dont taint the whole building because your friend has a unit on the one side...

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I agree with all of the others in favor of renting. You can only own a condominium here. I've met people who bought condos, then they became run down or an all night bar opened next door and some of the people have been trying for years to sell them for less than they bought them for. Why bother?

Why bother? I own several condos and rent them out at 7/8% net and 10/11% gross

No tax

No ATM charges

No exchange rate issues

Local currency income

I just rent out to you guys who don't like buying - thanks :) - I get my return within 10 years and have local income - every year my investment goes down in real terms - renting? throwing money away in my view.

isnt there expenses such as lack of tenancy, interior upgrade/damage, broken/inefficient water heater, aircon, interest if you're borrowing money, water leaking, cracks or soemthing?

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I agree with all of the others in favor of renting. You can only own a condominium here. I've met people who bought condos, then they became run down or an all night bar opened next door and some of the people have been trying for years to sell them for less than they bought them for. Why bother?

Why bother? I own several condos and rent them out at 7/8% net and 10/11% gross

No tax

No ATM charges

No exchange rate issues

Local currency income

I just rent out to you guys who don't like buying - thanks :D - I get my return within 10 years and have local income - every year my investment goes down in real terms - renting? throwing money away in my view.

isnt there expenses such as lack of tenancy, interior upgrade/damage, broken/inefficient water heater, aircon, interest if you're borrowing money, water leaking, cracks or soemthing?

Hi sure... 10% gross 7/8% NET after costs? :)

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Viengping has suffered from useless and lazy management for years but its position and the pricing of the apartments makes it one to watch and I can tell you that there are some really plush suites hidden away once you venture beyond the rather drab lobby. You do need to have a bike or other transport if you live there but if you like the Nimmenhamen area and are on a budget it's worth a look. PB: the pool has been open for the past couple of years at least although not many people use it. There are places up for both sale and rent right now.

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It was closed for a long time, Glad to hear it's open. My opinion stands.

Agreed. 

Buying property in CM is a crap shoot at best.  Renting is the must better option if you are a person "of means" and have income outside of Thailand and want to enjoy the "good life"........  

The "heydays' of making money from property is Thailand is over.    Chiang Mai is nearly dead, from a business and investment perspective.

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BANGKOK 25 July 2017 01:52
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