Airbnb Bangkok Short Term Rentals Come at a Steep Price

Airbnb in Bangkok costs way more than usual rent: 269% higher on average

Think Airbnb is cheap? In Bangkok, if you're looking to rent on Airbnb, be ready to pay a lot more than you would for regular, monthly rent. On average, Airbnb places cost 269% more than the usual rent in 51 areas of the city

There are two main ways to rent in Bangkok. One is the regular way, where people rent homes for a long time, usually through a deal with the landlord or sometimes with the help of a real estate agent. The other way is through short-term rentals like Airbnb, where people rent places for a few days or weeks. These are popular with tourists and are easy to find and book online.

Short-term rentals, on the other hand, are rented for a few days or weeks at a time. The use of online platforms, such as Airbnb, has grown exponentially in the last decade. Local or foreign tourists are the main market audience of this type of rent. People can search and book properties in all Bangkok City. 

There are various factors that contribute to the high price of short-term rentals in Bangkok. First, Bangkok is a popular tourist destination. As stated on Nation Thailand, Bangkok ranked as the most visited tourist destination in 2023, with an estimated arrival of 22.78 million visitors, overtaking Paris. The second factor is the profitability it has for landlords. The price for renting an apartment for one night is comparable to hotel fare. Both factors create an attractive service for property owners: high paying and high volume demand.

Also, most Airbnb rentals are located in the inner city of Bangkok. This means, they area located near BTS stations, shopping malls, business centers and tourist attractions. 

Juthathip Lucksanawong from FazWaz, a real estate company, says that people first come to Bangkok for short stays and digital work because it's cheap and has good internet. But when they decide to stay longer, they switch to regular, long-term rentals in places like Khlong Toei and Bang Na. 

The study compares data from Airbnb with data from FazWaz. In other words: temporary rental data vs traditional rental data.. The comparison had to establish a monthly rent price for the temp-rent market, which is priced per night. The study found that the average monthly rent on Airbnb in Bangkok is 387,361 THB, while the average monthly rent for a traditional rental is 47,526 THB.

By calculating the average rentals of both business models, renting property for 30 days is between 11.08% - 848.28% more expensive on Airbnb than traditional rentals out of the top 51 districts in Bangkok City. 

The price difference between Airbnb rentals and traditional rentals varies depending on the district. The biggest price difference is in Huai Khwang district, where Airbnb rentals are 650.84% more expensive than traditional rentals. Other districts with large price differences include Rat Burana (848.28%), Lap Phrao (652%), Sathon (281.82%), Khlong Toei (123.30%), Phra Khanong (122.43%), Bang Rak (97.35%), and Bang Na (239.57%).

The smallest price difference between Airbnb rentals and traditional rentals is in Bangkok Noi (35.81%) and Pom Prap Sattru Phai (30.53%).

Huai Khwang district offers various rental properties at a wide range of prices, unlike Khlong Toei and Phra Khanong, Sathon, which offer high-rise condos for rent. The most expensive condo rentals for Sathon on AirBnB for an average of 30 days is 2,100,000 THB. On traditional rentals, the most costly Sathon condo for monthly rentals is 550,000 THB, with a difference of 281.82% cheaper than traditional rentals.

Huai Khwang is not the only district where AirBnB rental prices show a vast difference in price change in central Bangkok. Sathon shows a price difference of 79.28% more expensive than traditional rentals. Khlong Toei (123.30%), Phra Khanong (122.43%), Bang Rak (97.35%), and Bang Na (239.57%) show massive price differences in how temporary rentals on Airbnb are more expensive than traditional rentals. 

The lowest price differences between both rental types are in the outer circle of Bangkok, which are Bangkok Noi (35.81%) and Pom Prap Sattru Phai (30.53%). The district that represents the most vast condo rental price difference are Rat Burana (848.28%), Lap Phrao (652%), and Huai Khwang (650.84%). 

Both temporary rentals and traditional rentals are different business models we have to consider. Traditional rentals are confined by regulated rental laws with the government and a contract between the tenants, owner and real estate agent. On the other hand, temporary rentals such as Airbnb are a business model that contributes to a short period of rentals for furnished condos between owners and guests within the platform, without any regulations and contracts. 

Wacharaporn Laroeng, another expert from FazWaz, says Airbnb helped Thailand's economy a lot, especially in Bangkok and Phuket, and created many jobs in 2022.

The rental price range in temporary rental markets averages 14,000 THB to 1,392,379 THB. The most expensive to rent is at Huai Khwang, Bang Rak and Rachathewi—traditional rentals' price ranges average between 7,000 THB to 59,000 THB. The most expensive districts to rent are Khlong Toei, Bang Rak, and Nong Chok. Huai Khwang, Bang Phlat, and Din Daeng are the cheapest to rent. More expensive to rent condos on traditional rentals is still, on average, 123.20% cheaper than temporary rentals on Airbnb. 

Airbnb places can cost anywhere from 14,000 to 1,392,379 THB. The most expensive areas are Huai Khwang, Bang Rak, and Rachathewi. Regular rentals are cheaper, costing between 7,000 and 59,000 THB in areas like Khlong Toei, Bang Rak, and Nong Chok.

The big question now is whether Thailand will make new rules for Airbnb, like other places such as New York and Malaysia have done, to control these short-term rentals?

Find Your Bangkok Rentals!