We talk about the cost of buying a condo in Thailand, and if it's worth buying one
When moving to Thailand, you must obtain a visa – a requirement under Thai immigration law. Most people who move to Thailand do so on a tourist visa (valid for 60 days) or a non-immigrant visa, which is initially valid for 90 days and must then be extended through Thai immigration.
| Level | Price per square meter |
|---|---|
| Middle class | ฿70,000-89,999 |
| Upper-middle range | ฿90,000 to ฿119,999 |
| High End | ฿120,000 to ฿199,999 |
| Luxurious | ฿200,000 to ฿299,999 |
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Now is a good time to buy below pre-pandemic market prices and simply wait for prices to rise as the world reopens for business. This will come into effect after the reopening of international borders, and especially as the Chinese become more confident about international travel.
Can foreigners buy property in Thailand in 2021? Yes, foreigners buying real estate in Thailand can acquire free title to a structure in Thailand, but foreigners are not allowed to own land in Thailand. Foreigners can enter into a long-term lease, commonly known as a “lease agreement,” to secure land.
There are many good reasons to invest in real estate in Thailand. The country has shown strong and steady growth in recent years and this trend looks set to continue. House and land prices are generally on the rise, as are rents, and this presents some interesting real estate investment opportunities in the market.
It is often possible for individuals to buy property in Thailand without the services of a local law firm. It can be risky if you are unfamiliar with the country, language and legal system.
According to the DDproperty Thailand real estate market index, Bangkok’s residential real estate price index has fallen since Q4 2020. It fell from 197 points to 190 points in the first quarter of 2021, to 183 points in the next quarter, and to 178 points in the third quarter of 2021.
Under the right conditions, buying an apartment in Thailand can be a worthwhile purchase and a good investment. If you are a foreigner interested in buying an apartment in Thailand, there are several issues you need to be aware of. Thai law only allows foreigners to buy apartments under certain conditions.
Is it easy to buy an apartment in Thailand? Buying an apartment in Thailand is quite simple and only a few requirements have to be met: The purchased real estate must be part of the 49% area of the project that could be owned by foreigners. This can be easily checked at the developer’s office directly with the responsible lawyer.
Rental Yield and Capital Appreciation Potential Potential investors can earn an average gross rental yield of 4-6% on apartments in central Bangkok. In addition, real estate prices in Bangkok have increased as a result of the city’s development and economic growth.
Do you dream of moving to Thailand? It’s to your credit, but if you’re coming for an extended stay for the first time, renting is the easiest way to get used to the lay of the land. By renting a property, you avoid many restrictive procedures, which can sometimes be lengthy.
Is Thai real estate a good investment? There are many good reasons to invest in real estate in Thailand. The country has shown strong and steady growth in recent years and this trend looks set to continue. House and land prices are generally on the rise, as are rents, and this presents some interesting real estate investment opportunities in the market.
You should plan to live in Thailand on a budget of at least $1,500 per month, with $2,000 being a more reasonable benchmark. This allows you to live comfortably without breaking the bank. You could potentially live on much less, as low as $1,000 a month, but you’d probably struggle.
A 30 square meter studio in Bangkok costs around 12,000 baht to 15,000 baht per month in expat neighborhoods like Onut. In business areas like Asok or Silom, prices can go up to 24,000 baht. In Chiang Mai, an apartment of the same size can only cost you about 10,000 baht per month, even in the main urban area.
Average Rent and Home Prices in Bangkok Average Home Prices in US Dollars: You can expect to pay around $198,000 for an apartment, which is more expensive than Phuket, Chiang Mai, Koh Samui and even Krabi. You pay $383,000 for the house.
Is Thailand a good place to buy property? Thailand has become an increasingly attractive real estate investment destination, especially in the Southeast Asian region. This rapidly growing appeal is due to three main factors: clear foreign property ownership laws.
In general, foreigners are not allowed to directly buy land in Thailand. Simply put, Thai law prohibits foreigners from owning land in their own name, although there is an exception in theory, but it remains to be seen in practice.
You should plan to live in Thailand on a budget of at least $1,500 per month, with $2,000 being a more reasonable benchmark. This allows you to live comfortably without breaking the bank. You could potentially live on much less, as low as $1,000 a month, but you’d probably struggle.
In Bangkok, the average one-bedroom apartment costs $580 a month in the city center, but only $290 outside the city center.
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