Empire Place - Narathiwas Road (Listing # PL10119)
Empire Place is a modern residential building which was newly completed in 2008. The condominium is located on Narathiwas Road in the Narathiwas, Sathorn community of central Bangkok. This Bangkok property is conveniently situated near the Chong Nonsi BTS station. You can walk to the skytrain station in about 6 minutes as it’s only 538 meters away from the Bangkok Condo.
The asking sale price for this Bangkok property is ฿20,000,000 THB (Thailand Baht) which equals ฿126,582 per square meter. As a buyer you will be responsible for a portion of the transfer fee, which may or may not be included in the asking price, please ask your Bangkok real estate agent before you view.
What expats lazily refer to as Sathorn may differ from the actual district. In addition to Sathorn Road, the real estate around several other main roads such as Rama IV, Rama III, Nanglinchee along with Narathiwas and Yen Akart which are considered neighborhoods within Sathorn.
Sathorn is a vast area which includes a wide variety of condos and apartments. Generally the closer to Sathorn Road the condos/apartments are, the more expensive they will be. While Sathorn Road real estate tends to cater towards the elite business people, the inner areas of Sathorn has more family orientated properties which includes a mix of high-end, Western quality highrise and lowrise residences along with some budget accommodations. Although there are no BTS/MRT metro stations in Sathorn, some Sathorn real estate is convenient to one of several stations which include Silom, Lumphini and Khlong Toei MRT, Sala Daeng, Chong Nonsi and Surasak BTS..
- Shrewsbury International School (Charoen Krung Rd.)
- International Pioneers School (Charoen Nakorn Rd.)
- St. Andrews International School (Sathorn soi 4)
- Garden International School (Yen Akart Soi 2)
- Acacia (Yen Akart Soi 2)
- Learning Home International Kindergarten (Narathiwas Rd.)
- New Sathorn International School (Narathiwas Rd.)
- International Community School ? ICS Prong Jai (Sri Bhumpen Rd.)
- Lumpini Park (Wittayu Rd.)
- Asiatique The Riverfront (Charoen Krung Rd.)
- Bang Rak Hospital (Sathorn Rd.)
- S. Louis Hospital (Sathorn Rd.)
- BNH Hospital (Convent Rd.)
- Embassy of Australia (Sathorn Rd.)
There are fees associated with condo purchase that vary slightly but are pretty straight forward. In addition to the sale price which in this case is ฿20,000,000 the buyer is responsible for part (usually 50%) of the 2% transfer fee. The transfer fee is not based on the actual sale price, but the appraisal price from the land department. The seller is responsible for business tax, stamp duty and withholding tax. Along with the sale price, taxes and fees are somewhat negotiable. If you find a property you like, the purchase process usually begins by making a booking deposit along with preparing the sales contract, this holds the property and allowing you the time to prepare and execute the consequent funds transfers before the closing date determined in your contract.
Financing Your Bangkok Real Estate Purchase
Make sure you have your finances in order before viewing condos for sale. It is often difficult for foreigners to get financing for purchasing property in Thailand. If buying a property under your name with cash you must transfer the money into Thailand from a foreign bank. If you have a longstanding Thai corporation you can also purchase property using funds located in a Thailand bank account. If you are a first time Thailand real estate buyer it is best practice to hire an attorney who is well versed in Thai real estate laww.