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Learn more about the Chiang Mai villa market through trends and average prices.
There are many different types of investments, but real estate has always been considered a reliable choice for more significant financial return. There are various types of properties which you can plan to buy as an investment. Thailand is one of the favorite countries for foreign investors as well as for expats. It is very easy to obtain properties of all types, and you are also assured of an excellent rental income on your property. Chiang Mai is in the northern part of Thailand and is popular among the real estate investors. The most sought after properties are Villas with stunning views especially overlooking the city.
As an old city with a rich cultural heritage, Chiang Mai is located within the picturesque mountains of Thailand. With breath-taking views and tropical climate, there are plenty of spots within this city that attract tourists. While villas, apartments, and houses have always been popular in Chiang Mai, there has also been a recent surge in the development of condos as well. The real estate market has therefore been good to this city, and it is getting more diverse to suit the different needs of the expats and the locals residing here. The number of travelers from foreign countries has been steadily increasing in Chiang Mai. The New Year period is when Thailand is known to face a steep rise in the number of tourists. The year 2018 recorded an 8.5% increase in the number of tourists visiting Chiang Mai. If you look at the mix of the people residing in this city, there are locals, expats, and retirees. There is a unique charm about this ancient city that draws locals and expats to this place. There are plenty of people who move here choosing Chiang Mai as a long term place of residence, and these are those who show particular interest in buying villas in this city. This is a retiree’s paradise with its cheerful lifestyle and affordable cost of living. The City is very business-friendly, and many people move here to start a new business or even to take up new jobs as the city has grown due to the increase within tourism.
Villas of all sizes can be found in Chiang Mai. From affordable ones going as low as 5 million Baht to the most expensive ones costing more than 50million Baht, you will be able to find a villa within this city to suit your budget.
There are compact two bedroom villas for small families, and then there are larger ones that have five bedrooms and plenty of living space.
Foreigners are not allowed to buy land in Thailand, and they are allowed to lease them instead. Some villas can be purchased as freehold properties or even for leasehold.
The villas in Chiang Mai are the most exciting mix of Thai style, antique finishes, and modern architecture. There are plenty of villas strategically located in prime locations. Also, there are plenty of Villas that are situated on the outskirts to give irresistible views of the mountain. From rooftop gardens to private pools there are plenty of modern amenities offered by the developers that are building villas.
Foreigners and locals that are looking to buy villas which are good value for money as well as those who are looking for a steady rental income mostly choose Hang-Dong, Doi Saket, and Mae Rim. There are plenty of shopping malls and several new properties for sale owing to the growing market in Doi Saket. For those looking for a more sophisticated area, the upmarket neighborhood of Mae Rim is alluring. If you have a job that requires you to stay closer to the city center then finding a property in Jed Yod would be very convenient. For all those with a larger budget, a large villa with lots of open spaces and green gardens is your pleasure then check out the properties in Samoeng. The views that you will have from your villa here are absolutely splendid.
When it comes to education Thailand, in general, has an excellent reputation for the quality of education offered. Also, Chiang Mai has been one of the cities that have continuously been reforming and improving their education to benefit both the Thai locals and the expats. Some people travel here as a part of their medical tourism, and that is a good indicator regarding the high-quality healthcare facilities to expect within this city. Food is cheap in this city, and you will be able to find the best tasting local cuisines at meager prices even in the upmarket hotels in the city. It is a small city, and local transport makes it convenient. There are also cheap bike rentals businesses located around the city.
On the whole, the cost of living is pretty good for the type of luxury you can enjoy. There are also plenty of perks available with a quick drive for boat vacations and beach holidays and lots more. The locals are very friendly and welcoming.