Condos for sale in Thailand

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.

These developments are worth considering for anyone looking to buy a condo in Thailand, whether as a primary residence or as a vacation property. In this response, I will provide more information about five specific condo projects in Thailand that are worth considering, including their locations, unit features, and amenities.

Origin Place Bangna by Origin Properties is a new high-rise condo project located in the Bang Na district of Bangkok. The project features modern units with high-quality finishes and amenities such as a fitness center, swimming pool and sky garden. The condo is near BTS stations and highways for easy connectivity to come into the city. 

The Icon Siam by Magnolia Quality Development Corporation is a luxurious mixed-use development located on the Chao Phraya River in Bangkok. The project features a variety of condo units with panoramic river views and access to top-notch amenities such as a rooftop infinity pool and fitness center.

Andaman Boutique Residences is a new beachfront condo project located in the popular resort region of Phuket. The project features spacious units with ocean views and access to amenities such as a fitness center, swimming pool and children's play area. A luxury low-rise condo for sale in Phuket overlooking the beautiful mountains and hills. 

The Park Beach Pattaya by Nova Group is a new high-rise condo project located in Pattaya, a popular beach destination on the eastern coast of Thailand. The project features modern units with sea views and access to amenities such as a fitness center, swimming pool, and rooftop garden.

The Vista Ratchapruek by Ananda Development is a new mid-rise condo project located in the Ratchapruek area of Bangkok. The project features modern units with high-quality finishes and access to amenities such as a fitness center, swimming pool, and sky garden.

One type of condo that is popular in Thailand is the luxury high-rise condo. These projects are usually located in prime areas of the city such as along the Chao Phraya River or in the central business district. They often feature panoramic views and top-of-the-line amenities such as rooftop infinity pools, fitness centers and sky gardens. For example Hyde Sukhumvit 11 by Grande Assets is a luxurious high-rise condo project located in the prime location of Nana in Bangkok. The project offers stunning city views and access to amenities such as a rooftop infinity pool, fitness center, lounge area, and golf simulator. 

Another type of condo that is popular in Thailand is the beachfront condo. These projects are located along the country's many beautiful beaches and offer units with ocean views and access to beachfront amenities such as swimming pools and sun decks. For example, The Breeze by Hua Hin Development is a new beachfront condo project located in the popular resort town of Hua Hin. The project features spacious units with ocean views and access to amenities such as a fitness center, swimming pool, and children's play area.

Mid-rise condos are another type of development that is popular in Thailand. These projects are usually located in residential areas and offer units with modern finishes and access to amenities such as swimming pools, fitness centers, and sky gardens. For example, Niche MONO Itsaraphap by Sena Development is a new mid-rise condo project located in the Itsaraphap area of Bangkok. The project features modern units with high-quality finishes and access to amenities such as a fitness center, swimming pool and sky garden. These types of condos are very popular among locals and expats alike because of affordable prices with high rental yield. 

Pet-friendly condos are getting very popular in the country during the pandemic. As people were stuck in home for a while for a long time, so having a furry legged friend is a great way to have a friend and a pal. Property developers in Thailand have push to quickly developer new condo for sale in Thailand. Especially in Chiang Mai where they are lots of condos in that are pet-friendly. 

To apply for a mortgage in Thailand you will need to meet certain eligibility requirements and provide certain documents to the lender. These requirements and documents may vary depending on the lender and the type of mortgage product you are appalling for in Thailand. In general you will need to have a stable income and a good credit score to qualify for a mortgage in Thailand. You will also need to provide proof of income such as salary slips or tax returns and proof of identity such as a passport or national ID card.

In addition to these general requirements, there are also specific rules and regulations that apply to foreigners who wish to obtain a mortgage in Thailand. According to Thai law, foreigners are not allowed to own land in Thailand but they are allowed to own condominiums. To obtain a mortgage to buy a condo in Thailand a foreigner will need to provide proof of ownership of the condo such as a sales and purchase agreement or a transfer deed. The foreigner will also need to provide proof of the source of the funds being used to buy the condo such as a bank statement or a letter from the bank confirming the availability of the funds.

Ownership structure is one major difference between buying a condo and a house in Thailand is the ownership structure. When you buy a condo in Thailand you are buying the right to occupy a specific unit within a larger development. You do not own the land on which the development is built and you do not have the right to make alterations or additions to the exterior of the building. When you buy a house in Thailand you are buying the land and the structure on it. Additionally you have the right to add or change the house to match your lifestyle in Thailand.

Maintenance and upkeep is another difference between buying a condo and a house in Thailand. When you buy a condo in Thailand you are typically responsible for maintaining the interior of your unit but the developer or management company is responsible for maintaining the common areas and amenities of the development. When you buy a house in Thailand you are responsible for maintaining both the interior and the exterior of the property as well as any amenities or features such as a pool or garden.

Cost and financing is the third major difference between buying a condo and a house in Thailand. In general condos in Thailand tend to be less expensive than houses, especially in prime areas of the city such as Asoke or Patong. Condos may also be easier to finance as they often require a smaller down payment and may be eligible for mortgage financing. Houses on the other hand may require a larger down payment and may be more difficult to finance especially for foreign buyers who are not eligible for a mortgage in Thailand.

When you buy a condo in Thailand you will be required to pay a transfer fee to the government. This fee is calculated as a percentage of the purchase price of the condo and is typically paid by the buyer. The current transfer fee rate in Thailand is 2% for the first THB 1,000,000 (Thai Baht) of the purchase price and then increases to 3% for the portion of the purchase price above THB 1,000,000.

In addition to the transfer fee you may also be required to pay other fees and taxes when buying a condo in Thailand. These fees and taxes may include the following:

Withholding tax is a tax that is withheld from the purchase price at the time of the sale and paid to the government by the seller. The withholding tax rate in Thailand is 3.3% for the sale of a condo by an individual and 1% for the sale of a condo by a company.

Specific business tax is a tax that is levied on the sale of a condo by a developer or builder. The specific business tax rate in Thailand is 3.3%.

Value-added tax (VAT) is a tax that is levied on the sale of goods and services in Thailand including the sale of a condo. The VAT rate in Thailand is currently 7%. For in-depth understand on tax implications and ownership laws check out FazWaz Advice section here.

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.