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Learn more about the Thailand condo market through trends and average prices.
There are 1,430 islands in Thailand, 35,000 temples, and a population of 67 million people. With over 35 million visitors annually, Thailand is one of the most visited countries in the world due to its delicious street food, stunning islands, and the thousands of temples dotted around the country. Some of the most iconic destinations in the country are the Grand Palace and Wat Arun in Bangkok, the limestone cliffs that jut out of the water in Phang Nga Bay, and Wat Prathat Doi Suthep in Chiang Mai.
In Thailand, the royal family is deeply loved and respected and it is strictly against the law to criticize any member of the monarchy.
Out of all the millions who visit the country each year, some are so transfixed by the country’s appeals that they decide to relocate or invest in the country.
The most popular area in Thailand is definitely Bangkok. Named as one of the most visited cities in the world, the city attracted over 22 million visitors last year from all over the world, thanks to its unique and eclectic characteristics. Many people travel to the city to experience its vibrant nightlife and colorful night markets, while others come for the numerous beautiful temples amidst the concrete jungle.
Those looking to live closer to the sea usually choose Phuket or Pattaya. Phuket is Thailand’s largest island and is one of the most popular choices for expats to relocate. It offers a more relaxed lifestyle than Bangkok and is famous for its sublime waters and dazzling white beaches. Similarly to Phuket, Pattaya also offers a laid-back lifestyle, but it is typically more famous for its nightlife scene.
Another popular area for foreigners to relocate is Chiang Mai. This city is loved by many thanks to its charming culture, beautiful landscape, and warm, friendly people. It is known as the most culturally significant city in northern Thailand, has over three hundred Buddhist temples in its area. Besides its fascinating culture, Chiang Mai offers incredible food markets, pristine jungles, as well as trendy cafes and hip bars.
Since Thai Law only allows foreigners to buy condominiums under certain conditions, it is the most popular option for those who want to invest or live in this country. Fortunately, condos can be found in almost every major area within the country and there are many types of condo for sale to choose from.
Condos in Thailand range from a studio (1 room + open kitchen) to 1 bedroom (living room + bedroom + open or closed kitchen) and 2 bedrooms (living room + bedrooms + closed kitchen). In some areas, you may also find 5 bedrooms or more penthouses for sale. For those on a tight budget, studio type condos are the best choice. Since they have the smallest floor size, it is typically the most affordable out of all the other types.
Besides the number of rooms, types of condos in Thailand can also be categorized based on its amenities. High class and luxurious condos are usually fitted with common facilities that you can enjoy with other residents, such as swimming pool, fitness center or gym, panoramic lounge, gardens, BQ area, kids playground, social club, co-working space, parking spaces, 24-hour security, and more. On the other hand, standard condos are usually equipped with parking space and 24-hour security.
In addition to the size and amenities, you can also choose the style. In Thailand, there are numerous traditionally-styled condos with Thai ambiance or modern condos. High-rise condos are usually modern-styled, while low-rise condos are typically traditionally-styled.
Thai Bhat (฿) is the official currency in Thailand and 1US$ converts to approx. ฿31.7. While prices and standard of living have risen in recent years, the cost of living is still relatively affordable. If you are on a tight budget, you can choose to buy your meals from delicious and affordable street food vendors that are available in every city. However, prices in Bangkok are typically higher than in any other city.
There are numerous affordable options to get around. In Bangkok, you can choose the BRT (bus rapid transit). It runs with a flat rate fare, meaning you only have to pay ฿15 regardless of the distance. Tuk-tuks and buses are also available and affordable, though prices may vary depending on the city you live in. Many foreigners choose to get around by renting a motorbike as it gives more flexibility. You can rent a motorbike for ฿150 to ฿450 a day.
The weather in Thailand stays warm and humid all year round. The average temperatures range between 28°C and 35°C but expect to experience 40°C temperatures during the hot season, which runs from March to June. From July to October, the rainy season starts, marked by heavy rainfall and rising humidity.
Thailand has a rich culture. More than 95% of the population practice Buddhism and around 4% of the population is Muslim. The official language is Thai, however, due to tourism English is widely spoken in the country.
In order to be able to live in Thailand, you will need a visa. It is possible to relocate with a tourist visa (valid for 60 days) or a non-immigrant visa (valid 90 days). Both visas can be extended. A tourist visa can be extended for 30 days, while a non-immigrant visa may be extended for one year.
Location – Thailand is located strategically in the center of Asia. It enjoys beneficial trading opportunities with China, India, and the members of the ASEAN. This provides better investment opportunities for foreigners.
Growing economy – Thailand’s economy is experiencing good growth. Industry professionals are predicting 10% growth per year for the country’s residential property market.
Incentives and support from the Thai government – the Thai government views foreign investors as an important factor in Thailand’s growth and they have made the process to purchase Condominium in the country for foreign investors very easy.