FAQs

General

Are there any income tax for rents? If so, how much?

Yes, there is 15% income tax per year.

Are the Condos with all the furniture shown?

Yes, they are. Some owners might give you more furniture than shown.

Is it possible to rent for 4 months?

Yes, it is. More info visit http://bangkokhomecondo.com/circle-36-short-rent-en/

How long is your contract?

Our standard contract is 12 months.

How do I pay my rent?

You will transfer monthly rent directly to the owner's bank.

How do I pay my bills?

You can pay your bills at 7-11 or any banks. except water, you pay it at your condo's juristic office.

Does monthly rent include facilities fees?

Usually, rent is included common fee such as gym, swimming pool, security service and excluded electricity, water, Internet, cable TV, phone usage.

Do you provide any move or clean service?

Yes, we do. We can arrange it for you with extra fee.

How much money do I need to move in?

You need two months security deposit and one month rent upfront.

How much monthly rent costs?

Studio unit, 30sqm, 10-15k mo. One bed unit, 40sqm, 15-20k mo. Two bed unit, 60sqm, 20k-30k mo. Three bed unit, 80sqm up, 30k mo up.

I'm looking for a condo. Do I have to pay your agent service?

No, actually, we will help you find your condo at no cost to you.

How much Internet and cable TV cost?

Internet 590baht/month. Cable TV 340 baht/month.

How much electricity and water cost?

Electricity is 1-3 baht/unit. Water is 15 baht/unit.

Circle Sukhumvit 11

How do you act on behalf of overseas owners to manage the unit, tenancy etc?

You do the investment, we do the rest.

Do you know of any other ongoing condo projects in the vicinity?

Yes, I do. I think Circle Sukhumvit 11 is the best right now in Sukhumvit area in terms of buy for living or buy for investment because of its phenomenon and 11 details redefine.

Upon full payment, how long does it take to process the transfer of ownership and who will initiate that process?

Within 30 days. The developer will arrange an appointment with you.

What other projects have this developer completed in the past?

There are 3 projects completed. First called Fragrant 71. Second called The Prime 11. Last called Circle Petburi 36. There are 2 projects building up. First called Circle Living Prototype. Last called Circle S Sukhumvit 12.

What are the legal documentations required?

Just your passport.

Upon paying the deposit (25%?), can I sub sell the unit I paid deposit for prior to full completion of the project and prior to full payment, i.e. prior to the remaining 75% payment?

Yes, you can.

Is overseas bank financing allowed for the SK 11 project?

Yes, it is. Please contact UOB bank http://www.uob.com.sg for more info.

Are extended tenancies of more than 5 years common? How long is a typical tenancy? Or perhaps, is occupancy rate in prime area high?

No, they aren't. The typical is 1-3 years. The occupancy rate in prime area is very high. One of my customers' condo is vacant only 3 days a year.

How much is generally the investment return in prime area in BKK? 5-6%?

ROI 16%, rental yield 8% and capital appreciation 10% per year.

Does your service also include looking for tenants, managing the property on behalf of overseas owners and any others? How much do you charge?

Yes, it does. We charge same as other agents do.

How much appreciation have you seen in the past 3 years? Do you feel that it will continue to rise or drop?

The appreciation has not change much. I think it is rising up.

Are there any capital gains tax by the local government if I sell off the unit at a higher price at a later time? If so, how much?

No, there aren't.

Are most of your overseas clients (if any) looking for capital appreciation returns or just collecting rentals?

They are looking for capital appreciation.

Is the real estate still booming? Are prices still going up?

Yes, it is. Price has been 200% going up since year 2000.

Where would you recommend is a prime area where properties are continuously sought after by locals and foreigners alike? I only know of Sukhumvit.

I recommend Sukhumvit from Thong Lo to Siam BTS.

Is offshore bank financing (non-Thai banks) to acquire a BKK condo generally acceptable?

Please contact UOB bank http://www.uob.com.sg for more info.

What are the procedures to own a condo unit?

1. Place 25% deposit to seller 2. You and seller make a sell contract 3. Transfer title deed at land department. You pay seller the rest (75%)

Is the regulation for foreign ownership generally okay? Are there any government or administrative challenges for foreigners?

The regulation is okay for foreigners and Thais. There are no government or administrative challenges against them.

How is the real estate climate like? Are there plentiful of new condo projects springing out every now and then and expats are continuously moving out from one to another?

New condo projects are springing out everywhere because of city mass transportation expending (BTS, MRT, BRT, Airport Link). There is a high competitive in budget condos (Less than 3 millions bath). Expats stay longer in luxury condos (3 millions bath up).