Just How Much is My Bangkok Condominium Valued at?

Property is proven to be a sound investment. Investors often choose this asset class as it manages to generate wealth in two ways. Firstly should it not be a principal home there is the opportunity to rent it out to receive a rental income, and secondly it will appreciate in value enabling a profit to be gained when it is disposed of. Properties that appreciate most are ones that are more in demand thanks to the simple supply and demand mechanism. For Bangkok condominiums the most sought after ones are those closest to the mass transit networks that enable residents the swift movement around the city. 

Regardless of whether your Thailand investment is a short or long term strategy, knowing its value will enable you to decide how you want to manage it. Calculating how much your Bangkok condominium would achieve should it be put on the sales market, can be achieved a few different ways.

The most obvious and common method is on a price per meter basis. Generally each building has a figure for this and using the size of your property and multiplying these together will give you the sales price. Often this figure is a range and which part of the bracket your unit falls under will depend on variable factors such as floor level, view, number of bedrooms and bathrooms. For example, higher units tend to achieve slightly more thanks to the wider views that they bring.

Square meter values are determined by achieved sales. Finding concrete evidence of how much other units in the building have sold for will help to work out how much you unit is worth. Remember to compare like for like as naturally a better presented condominium will achieve a more than one which is looking a bit tired. The Internet is a great wealth of information so have a search online for comparable units for sale. However, use this only as a guide as some prices might be in excess of what would be hoped to be achieved to allow room for negotiation. This is when the last method comes into its own: speaking with the experts.

Good real estate agents will have their pulse on every market movement, what sales have been achieved and whether buyers are making full or near full asking price offers depending on the market cycle. Picking the expertise of reputable and knowledgeable agents such The Agent, will help give you a clear picture of the price you should achieve. Better still would be to get them to visit the unit to get a feel for the property, and then combine this figure with the other two methods to help calculate just how much your Bangkok condominium is worth.