The influx of tourists and migrants in Thailand is increasing every year. The most popular regions of the Kingdom are the cities of Bangkok and Pattaya, as well as the islands of Phuket, Phangan and Koh Samui. It is in these locations that foreigners purchase housing. When choosing a property for permanent residence or vacation, buyers are often guided by emotions. But before you buy a property in Thailand to generate income, it is wiser to find out how different locations differ from each other.
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Bangkok
The capital of the Kingdom, Bangkok, is one of the fastest growing cities in Southeast Asia. The population of the metropolis is more than 5.5 million people. Bangkok residents believe that this business and financial center will soon compete with Hong Kong and Singapore.
There is a high demand for housing among tenants in the city. The profitability of rental housing is at least 4–6% per year.
Accommodation in Bangkok
- A penthouse of 257 m2 in the Khlong Toei area can be bought for $963,000.
- A 110 m2 penthouse in the central district of Khlong Toei can be purchased for $1.08 million.
- A duplex of 36 m2 in the Bang Phlat area costs $177,000.
- A 55 m2 condominium in the Khlong Toei area can be bought for $640,000.
- A 22 m2 condominium in the Khlong Toei area costs $640,000.
Pattaya
The population of the city is around 116,000 people. There is a huge selection of residential complexes in Pattaya today. It is allowed to build high-rise residential buildings in the city. Supply exceeds demand today. Residential properties are sold here by both construction companies and individuals.
Pattaya has a convenient air connection and a well-developed social infrastructure: international schools and kindergartens, as well as medical clinics operating here. Usually, foreign citizens purchase apartments in the city for permanent residence and recreation. It is difficult to earn money by renting an apartment or reselling a unit in Pattaya due to high competition.
Real Estate in Pattaya
- A condominium with an area of 24 m2 can be bought for $70,000.
- An apartment of 35 m2 costs $43,000.
- A nice studio 35 m2 is sold for $28,000.
- A penthouse of 250 m2 can be purchased for $575,000.
- A penthouse with an area of 220 m2 can be bought for $857,000.
- An apartment of 77 m2 is sold for $109,000.
- A condominium with an area of 80 m2 costs $129,000.
Koh Samui
Koh Samui is a small island with a population of around 45,000 people. There are many beaches with white sand, as well as coconut plantations. The central part of the island is occupied by mountains, so all the infrastructure here is located along the coast.
Basically, the villas are built on the island, since it is allowed to erect buildings no higher than 12 m. The peculiarity of Koh Samui is that there is still an opportunity to buy a luxury villa on the seashore.
People usually choose houses with a garden and a private pool near the beach, while villas are bought for permanent residence, not for a rental business.
Apartments and villas on Koh Samui
- Apartments of 118 m2 cost $370,000.
- An apartment of 75 m2 is sold for $112,000.
- A villa of 126 m2 can be purchased for $141,000.
- A townhouse of 94 m2 can be purchased for $63,000.
- A house with an area of 360 m2 is sold for $109,000.
- A villa of 120 m2 costs $215,000.
Phuket
The population of Phuket is more than 360,000 people. The island has beautiful nature, many mountains, and snow-white beaches.
The influx of tourists coming here from all over the world increases annually due to the year-round beach season, excellent climate, and rich nature. There is an international airport that accepts planes from different parts of the world.
Moreover, it is comfortable to live in Phuket thanks to a well-developed infrastructure: there are international kindergartens and schools; medical clinics; and courses, yacht clubs and tennis courts.
Additionally, foreigners purchase housing on the island for rent and regular income, as well as for their own living.
You can buy a house in Phuket for both $3,000 and $20 million. Besides, experienced investors usually invest large sums in the purchase of several apartments under the management of hotels. Such apartments bring 10–15% of the income from the cost every year.
Accommodation in Phuket
- A 46 m2 condominium can be purchased for $185,000.
- A studio of 26 m2 costs $111,000.
- A villa of 4500 m2 can be purchased for $11.32 million.
- A small studio 33 m2 in a condominium is sold for $197,000.
- A penthouse of 70 m2 can be purchased for $382,000.
- A penthouse of 150 m2 costs $273,000.
- A duplex of 128 m2 can be bought for $109,000.
- A 3,680 m2 villa costs $6.86 million.
Phangan
Phangan with a population of 12,000 people is the fifth largest island of the Kingdom.
For permanent residence, this location is often chosen by lovers of nightlife. Every full moon, a Full Moon party is held on the island, where thousands of people flock.
On average, luxury villas for permanent residence and investment are located on the west coast of the island.
It is worth mentioning that local residential properties are popular among buyers, as real estate here is growing rapidly in price. Therefore, the cost of houses on the island has increased by 20% over the past few years. That is why many foreign investors are trying to buy a villa as soon as possible.
Accommodation on Phangan
- A villa of 200 m2 can be purchased for $114,000.
- A house of 195 m2 is sold for $215,000.
- A villa of 125 m2 can be bought for $186,000.
Summary
Experienced investors choose apartments and villas in Thailand, having previously studied the features of the area where the housing is located. The choice of location depends on the purpose of the acquisition of the housing unit.
- Of course, luxury apartments for living in Bangkok are often chosen by business owners in Asia. They also invest in local apartments in order to rent out housing.
- An inexpensive apartment for permanent residence can be purchased in Pattaya.
- Meanwhile, a luxury villa for living by the sea is worth looking for on Koh Samui.
- Finally, accommodation in Phuket is suitable for family holidays and income from renting.
- The island of Phangan is chosen as a permanent residence by lovers of night parties. You can earn money for housing here by reselling the unit in one or two years or later, when prices for local real estate will rise even higher.