The 8 Condominium

4.33 (1 Review)

Chang Phueak, Mueang Chiang Mai,Chiang Mai

Unit ID: U227367
5% Rental Yield
฿3,860,000 Great Price
Bedroom
Studio Bedroom
Bathroom
1 Bathroom
Indoor Area
42 SqM Size
Floors
2 Floor
Construction
Jul 2018 Completed

Studio Condo for sale at The 8 Condominium

This property is a 42 SqM studio condo with 1 bathroom that is available for sale. It is part of the The 8 Condominium project in Chang Phueak, Chiang Mai and was completed in Jul 2018. You can buy this condo for a base price of ฿3,860,000 (฿91,905/SqM) and it is also available for long term rentals starting from ฿15,000 per month.

Features

BalconyBalcony

Basic Information

Property Type Condo
Floor 2
Bedroom Studio
Size 42 SqM
Price per SqM ฿91,905
Condo Ownership

Foreign nationals can be freehold owners of condominium units, in buildings where not more than 49% of the unit floor space is owned by foreigners. Units that are part of the Thai quota or are being leased for 30 years can be converted to the foreign freehold quota if that is currently below 49%.

Thai Quota
Furniture
Unfurnished
View(s) City View
Unit Type A
Building N/A
CAM Fee
The common area maintenance (CAM) fee has to be paid monthly by owners for the upkeep of the common areas of condominium and housing projects. For new build projects, it is common to pay between 1 - 3 years’ management fees in advance upon the transfer of the unit’s ownership.
฿2,100/mo
Listed By
Private Owner
Date Listed Nov 12, 2019
Last Updated 1 year ago
Unit ID U227367

Price Analysis

Good Price
Estimated market value ฿3,862,959
Great
฿3,510,000
Good
Fair
Above
฿4,320,000
Current asking Price: ฿3,860,000 | Advertised rental rate: ฿15,000/mo
This condo is priced at the current market value in the Chiang Mai area. It is analyzed against similar condos and is based on previous transaction data, the current market situation, neighborhood details, and the specific details of this property.
Powered by FazWaz AVM

Investment Opportunity: Charges & Yield

Sale Price
฿3,860,000
CAM Fee
The common area maintenance (CAM) fee has to be paid monthly by owners for the upkeep of the common areas of condominium and housing projects. For new build projects, it is common to pay between 1 - 3 years’ management fees in advance upon the transfer of the unit’s ownership.
฿2,100/mo
Rent
฿15,000/mo
Price-to-Rent Ratio
The price-to-rent ratio is calculated at the individual home level, where the sales price is divided by 12 times its monthly rent price.
21
Rental Yield
This is the gross rental yield. To calculate this figure we use the advertised monthly rent rate (for a 1-year contract) and the current sales price.
5%

Project Details

Project Name: The 8 Condominium
Developer: The 8 Estate
Construction: Completed (Jul 2018)
Floors: 4
Buildings: N/A
Units: 61
Project Area: N/A
Nearest Landmark Ched Yod Temple - 1.1 Km
Location: Chang Phueak, Mueang Chiang Mai, Chiang Mai
The 8 Condominium Project Details

Project Features

On Site Restaurant On Site Restaurant
Communal Pool Communal Pool
Communal Gym Communal Gym
24H Security 24H Security
CCTV (Video Surveillance) CCTV (Video Surveillance)
Car Parking Car Parking

Available Units at The 8 Condominium

For Sale 3 For Rent 4
Get notified when new homes are being added to The 8 Condominium

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Frequently asked questions

The common area maintenance fee is ฿50 per square meter based on the size of indoor area of the property and is ฿2,100 for this condo. This fee has to be paid by owners for the upkeep of the common areas of the project. For new residential developments, it is common to pay up to 1-3 years’ common area maintenance fees in advance upon the transfer of the properties' ownership.
For new projects, the buyer pays a one-off lump sum upon transfer of the property from the developer to the buyer. This fund is to be used for major renovations and replacement of equipment when necessary, to ensure the maintenance of the building and the common area. At The 8 Condominium the required payment for the sinking fund is ฿500 per square meter based on the size of the indoor area of the property.
Ched Yod Temple is the nearest Temple from The 8 Condominium and it is 1.1 km away.

Foreigners can own a condominium Freehold in their own name. Condominium ownership is best explained by looking at an example of a project that has 100 units for sale.

In this example, 49 of the total units in this building (or 49% of the total salable area) can be owned outright by non-thai nationals in their name.  The ownership titles of these 49 units is referred to as Freehold or Foreign Quota. 

This leaves 51 units remaining in the building (or 51% of the total salable). The freehold rights to these units are reserved for Thai nationals in what is commonly referred to as the Thai quota.

 

Read more here

After you have found the right property at The 8 Condominium you have to follow these steps:

  • - Agreement of terms and conditions
  • - Reservation Agreement
  • - Reservation Deposit
  • - Sales and Purchase Agreement
  • - Settlement & Transfer

 


Read more here

Thailand has different visas like Spousal Visa, Retirement Visa, Student Visa and Elite Visa - just to name a few options. Each visa has different requirements but they are usually easy to obtain.

Read more here

Sale Price : ฿5,759,000
Fazwaz Estimate : ฿5,550,000
Price Rating : Great Price
Sale Price : ฿12,140,999
Fazwaz Estimate : ฿11,990,999
Price Rating : Great Price
Sale Price : ฿1299,999
Fazwaz Estimate : ฿179,999
Price Rating : Overpriced
Sale Price : ฿159,999
Fazwaz Estimate : ฿149,999
Price Rating : Fair Price

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Reviews

4.3 out of 5 4.33
Based on
1 Review
Maintenance
Staff / Security
Facilities on Site
Quality of Finishing
Value for Money
Location
+ Write a review
A 4-story condo is superb. The design is stylish and it’s close to the department store.
4.3 Zina Raia, India, 1 year ago
I bought this room from this project for a year now. I like that this condo has only four stories. The design of any design is stylish and suitable for the new generation like me. My room is a two-bedroom, two-bathroom unit. The size of the room is about 60 sq.m. For me, it is perfect as I stay alone. There are also many project facilities like the swimming pool, the fitness, and the reliable security system, giving you peace of mind. Plus, the location is great as it's close to department stores, shops, restaurants, and airports. I think it's super worthwhile. Oh, I forgot to mention that my room is beautifully decorated, all furniture and accessories are ready to move in. It is my favorite thing about buying a second-hand condo. You do not need a lot of decorations, which saves a lot of money. There is a slight disadvantage in that it is impossible to own pets as it might disturb the neighbors, so I stayed alone because I couldn't bring the cat with me.

Chiang Mai

Chang Phueak

Neighborhood Overview

Location and Neighborhood

Street View

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