Dilapidated building in Bangkok listed for 18 million baht

A four-storey dilapidated building in Bangkok has been listed for sale at 18 million baht, causing quite a stir online. Netizens are engaged in lively debates about whether this “fixer-upper” is worth the “price tag shock.”

Aood Narongrit, a Facebook user, shared images and details in the group Second-Hand Houses at Good Prices in Bangkok and Surrounding Areas.

The post showcases this diamond in the rough, featuring 14 square 56 square metres, eighth bedrooms, and eighth en-suite bathrooms. Located in Ladprao Soi 1, just 300 metres from Union Mall and directly opposite Central Ladprao, this property boasts a prime location despite its shabby chic condition.

The asking price is set at 18 million baht but it is negotiable. The post also notes that the building is open for sale or lease with renovation contracts available, inviting offers for consideration.

The post quickly garnered attention, with numerous individuals commenting and exchanging views on the price. Some people deemed the price excessively high, while others considered it reasonable due to the prime location. The proximity to significant shopping centres such as Union Mall and Central Ladprao makes it a highly desirable spot.

“If the budget allows, this place could be renovated into a chic bar, café, or hostel.”

Limited parking

There are limitations for business use, such as the lack of parking space, which would require targeting customers who are backpackers or those using the BTS Skytrain.

Others pointed out the legal restrictions, noting that if the building were to be demolished and rebuilt, the setback requirements would reduce the usable space. Additionally, the structural integrity of the building would need to be assessed to determine the feasibility of renovations.

The mixed reactions highlight the debate over real estate prices in prime areas of Bangkok. While some view the investment as justified due to location, others are wary of the additional costs that would be required for renovation or reconstruction.

The discussion also touched on the potential for different types of businesses. Some commenters suggested that despite the lack of parking, the location’s high foot traffic could be advantageous for certain types of enterprises, especially those aimed at younger, more mobile demographics.

“This area is always bustling with people, especially those who prefer walking or using public transport. It could be a goldmine for the right kind of business.”

The post has sparked a broader dialogue about the value of properties in central Bangkok, particularly those with significant potential for redevelopment. The high price tag, while initially shocking to some, is seen as a reflection of the strategic location and the opportunities it presents.