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    1 Bedroom Condo for sale at Palm Springs Nimman Areca
    Suthep, Mueang Chiang Mai,Chiang Mai
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    Sale Price
    $97,200
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    1 Bedroom Condo for sale at Palm Springs Nimman Areca
     (Write Review)
    Unit ID: U1825866
    6% Rental Yield
    Suthep, Mueang Chiang Mai,Chiang Mai
    $97,200
    1 Bedroom
    1
    Bathroom
    366 Sqft
    Size
    7
    Floor
    Dec 2017
    Completed
    10
    Sale Price
    $97,200

    About This Condo

    This property is a 366 Sqft condo with 1 bedroom and 1 bathroom that is available for sale. It is part of the project in Suthep, Chiang Mai and was completed in Dec 2017. You can buy this condo for a base price of $97,200 ($266/Sqft).

    Features

    Corner UnitCorner Unit BalconyBalcony MicrowaveMicrowave TVTV

    Basic Information

    Date Listed May 9, 2024
    Updated 6 months ago
    Property Type Condo
    Floor 7
    Bedroom 1
    Size 366 Sqft
    Price per Sqft $266
    Pets Not Allowed
    Condo Ownership

    Foreign nationals can own condominium units as freehold owners in buildings where no 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 it is currently below 49%.

    Foreign Quota, Thai Quota, Leasehold, Company
    Furniture
    A fully-furnished property is one which is equipped with all required items of a household. From sofa to table lamp, from bed to a dresser and even electronic appliances, utensils and glassware in the kitchen – a fully-furnished property has everything required in your day-to-day life.
    Fully Furnished
    View(s) City View
    Unit Type N/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.
    $44/mo
    Listed By
    Private Owner
    Electricity Price N/A
    Water Price N/A
    Unit ID U1825866

    Investment Opportunity: Charges & Yield

    Sale Price
    $97,200
    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.
    $44/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.
    16
    Rental Yield
    This is the gross rental yield based on the estimated rental rate. To calculate this figure we use the average monthly rent rates (for 1-year contracts) from other 1 bedroom condos at Palm Springs Nimman Areca, and the current sales price.
    6%

    Project Details

    Project Name: Palm Springs Nimman Areca
    Developer: Palm Springs Place Co., Ltd.
    Construction: Completed (Dec 2017)
    Floors: 8
    Buildings: N/A
    Units: 62
    Project Area: N/A
    Nearest Landmark Chiang Mai Bus Terminal 1 - 1.5 Km
    Location: Suthep, Chiang Mai
    Palm Springs Nimman Areca Project Details

    Project Features

    Hotel Managed Hotel Managed
    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 Palm Springs Nimman Areca

    For Sale 2 For Rent 2
    • All
    • 1 Bed
    Get notified when new homes are being added to Palm Springs Nimman Areca
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    Frequently Asked Questions

    No pets are allowed at Palm Springs Nimman Areca unless specifically permitted by the juristic office. Exceptions can be made for service or guide dogs for persons with disabilities.
    The common area maintenance fee is $1 per square meter based on the size of indoor area of the property and is $44 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 Palm Springs Nimman Areca the required payment for the sinking fund is $15 per square meter based on the size of the indoor area of the property.
    Chiang Mai Bus Terminal 1 is the nearest Bus Terminal from Palm Springs Nimman Areca and it is 1.5 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 Palm Springs Nimman Areca 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

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    Chiang Mai
    Suthep

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