Bangkok has a charming allure that persuades both visitors and those that have business connections within the sprawling city to invest in property here. There are huge amounts of websites offering Thailand property for sale, but where do you start?
History is littered with those that have invested in property in Thailand without using a professional real estate agent or have studied the market sufficiently to avoid making some costly mistakes. There are misconceptions that you can ‘buy anywhere’ for $50,000 US Dollars. This may have been true a long time ago, but run a property search for Thailand property for sale and you will see that Bangkok has property at the top end to stretch the budgets and expectations of wealthy and aspirational real estate investors.
Bangkok Condo For Sale
It is considered to be far safer investing in a Bangkok condominium (because there are fewer issues concerning land ownership when buying a condo rather than a house) than buying other types of property for sale in Thailand. Once you have found your perfect Bangkok condo for sale with the help of a local real estate professional then it’s suggested to employ a reputable local lawyer before placing your offer. As long as you have these two important professionals as part of the buying process, it should prove relatively straightforward from thereon. It is worth noting that Thailand property laws mean that foreign ownership is limited to 49% of a total development. So, for example, if there are 100 Bangkok condos for sale on one site, then 51 of them (51%) must be under Thai ownership. The remaining Bangkok condos for sale can be purchased by foreigners.
Property For Sale Thailand
Purchasing other Thailand property for sale is more complex. It is forbidden for foreigners to own the land that the property is housed on. This can cause obvious issues if you are wanting to invest in a house, as you will not own the land it is built on. It is logical to assume that without the security of land ownership, that your investment could be in jeopardy at some point in time.
There are official arrangements such as purchasing the land via a registered company with a majority shareholding belonging to Thai ownership, as well as purchasing a lease for the land. However, this is typically for a maximum term of around 20 years. For this reason, foreigners often opt for the purchase of a condominium when investing in property for sale in Thailand.
Where Should You Buy Property In Thailand?
Bangkok is a huge, sprawling city. There are districts upon districts, 50 in total listed HERE. Depending on your objectives, and whether you are buying to rent or buying for a long-term investment yield will depend on where we suggest you look to buy.
Ari is one up and coming trendy area for expats in particular, for example. It has lots of hip and trendy cafe bars and you can check some of them out HERE.
The Sukhumvit-Prakanong area is another area worth noting. It performed well in 2015, with big increases in prices up to 226,000 baht per square metre, an increase of almost 50 percent from 2014 figures.
As the infrastructure surrounding certain districts in Bangkok improves, so will the prices of real estate in these areas. The development of the BTS, the Skytrain network that commuters and travellers use to travel around Bangkok, has had a noted impact on property values and will continue to do so in the future. Travelling on the Skytrain is affordable and convenient and allows commuters to bypass the often gridlocked roads of Bangkok. Approximately 150 baht (less than $4.50) will get you an entire day pass and you can travel freely with the pass. Trains generally run like clockwork and Bangkok residents already know the benefit of residing close to a BTS station, so look out for this when looking for a Bangkok condo for sale.
How much is a Bangkok Condo?
Spend a day in Bangkok and you’ll be able to spot people working on new condo developments almost everywhere. The Bangkok condos for sale vary from brand new swanky apartments in the trendiest areas to those in need of a facelift in less desirable areas, so the prices fluctuate considerably.
Colliers International has expert insight and data into Bangkok condos for sale and you can check out their 2Q 2016 results HERE. As a general guide, you will see Bangkok condos for sale for as little as 1.5 million baht (£33,000 or $43,000 US Dollars). It is worth pointing out that this is a price point with little barrier to entry and considerable competition. Average condo prices in prime areas of Bangkok such as Sukhumvit and Sathorn can be upwards of 15 million baht (£333,000 or $433,000 US Dollars).
Bangkok Condos For Sale
Our website is regularly updated with Bangkok condos for sale. If you don’t see what you’re looking for please get in touch for an expert insight into the local market. We pride ourselves in providing a bespoke service for international clients and have multilingual staff to communicate effectively with you.
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