The decision of which city is best to buy an apartment in Thailand depends directly on your goal. If you are buying real estate as an investment, choose popular tourist areas near the sea, as well as central areas of Bangkok. Here real estate is liquid and high rental rates ensure a quick return on investment.
Content:
- Where it is better to buy real estate in Thailand
- Is it profitable to rent out real estate in Thailand?
- Is it worth buying property in Thailand?
- Let us help you become a property owner in Thailand
If you need a residence to use personally and prefer a spacious lifestyle surrounded by picturesque nature, consider the islands of Phuket and Samui, as well as small coastal towns.
Among the many advantages of buying real estate in Thailand are:
- Attractive prices compared to similar properties in the UAE, European countries, and the USA.
- Modern layouts and high-quality construction in convenient residential complexes.
- Comfortable living conditions: warm climate, proximity to the sea, and friendly attitude of the local population towards foreigners.
- Beautiful nature with tropical forests, waterfalls, caves, cliffs, and uninhabited islands.
- Ideal conditions to practice water sports.
Where it is better to buy real estate in Thailand
Traditionally, the best cities in Thailand to buy real estate are popular resort areas such as Phuket, Pattaya, Samui and others. The main advantage of living in these cities is the opportunity to visit sandy beaches with recreational facilities, picturesque tropical forests and natural parks with rich fauna and flora. Resort areas have well-developed infrastructure, and you can find many shops, restaurants and cafes catering to foreign tourists and expatriates.
The only drawback to such housing is its higher cost compared to similar properties located further from the sea. Nevertheless, estates in Thailand's coastal areas are constantly appreciating, are liquid, and are a good investment.
Today, buyers in new developments can save a significant amount by entering into a contract with the developer during the construction phase. During the implementation of the project, the value increases on average by 10–15% per year.
A popular place to buy real estate is the capital city of Bangkok. It is a modern and bustling metropolis with a population of approximately 5.4 million people. It is home to large shopping malls, offices of international companies, and a well-developed public transportation system.
Many Thais come to the capital to work, so there is always a high demand over properties. Buying apartments in Bangkok is interesting to both investors and those who plan to conduct business or work in one of the local companies.
When it comes to where it is best to live in Bangkok, a modern apartment with amenities in a residential complex is considered the optimal option. 1 and 2 bedrooms are most in demand. Apartments in the city center and near infrastructure objects (shopping and business centers, bus stations, schools, etc.) are more expensive.
Where is the best place to live in Thailand?
Traditionally, the best cities in Thailand considered for relocation among foreigners are Pattaya and Phuket. It is in these regions that the majority of expatriates are concentrated. Less popular among foreigners but equally attractive with living are the island of Samui and the cities of Hua Hin and Krabi. Let's take a closer look at these regions.
Phuket is a large island known to be a beautiful tropical forests and stunning sandy beaches, ideal to practice surfing and other water activities. Phuket has an international airport as well as several golf clubs and natural national parks. Buyers can choose from a variety of housing options, from small studios in condominiums to luxurious oceanfront villas.
To understand where it is best to live in Phuket, it is worth coming to the island and studying the pros and cons of different locations. There are completely secluded micro-districts near the forest, as well as communities with well-developed infrastructure, where schools, kindergartens, markets, and shopping centers are within walking distance.
Among wealthy foreigners, the west coast of Phuket is the most popular. Here you will find famous sandy beaches and many elite hotels and condominiums. The area has cafes, supermarkets, golf clubs, surf schools, and traditional Thai markets selling clothing, household goods, handicrafts, fresh fruit, fish, meat, seafood, and convenience foods.
The resort town of Pattaya is a popular destination among expatriates. The infrastructure here is well developed: there are schools, kindergartens, shopping centers, markets, and sandy beaches with plenty of recreational opportunities. If you are wondering where best to live in Pattaya, consider the options such as apartments in modern condominium complexes. Such apartments are of high quality and have convenient layouts. The presence of amenities such as a pool, gym, restaurant, and other facilities ensures comfortable living for residents.
Hua Hin is a town located on the west coast of the Gulf of Siam. It is not the most famous place, which means there are not many tourists here. The quiet seaside location attracts people who appreciate a peaceful life surrounded by nature. Hua Hin has good beaches, shopping centers, schools, medical facilities, the Royal Hua Hin Golf Course, various restaurants, cafes, and several Buddhist temples.
Krabi is a city and the center of the province of the same name located on the southwest coast of the country. The region is known with its unique nature with sheer cliffs, mangrove thickets and numerous coastal islands. Krabi is popular with divers and rock climbers.
Samui is a remote island with beautiful beaches, tropical forests, and the famous Big Buddha Temple. It is not as popular as Phuket and the infrastructure is not as developed. However, it is an excellent choice for those interested in a quiet and secluded place to live comfortably.
Is it profitable to rent out real estate in Thailand?
Investing in property in Thailand is a good way to protect funds from inflation and generate passive income. In popular resort areas, renting out apartments can yield up to 10% annually, which is a high figure for the real estate market. The country's warm climate maintains a high demand in rental apartments and villas throughout the year, ensuring a stable income for investors.
When considering the profitability of renting in Thailand, the most straightforward and profitable option is studios and apartments. Such accommodations are in high demand by a large category of tourists. In addition, investors can contract with a real estate management company to handle all aspects of renting out the apartment: finding tenants, preparing the condominium to move-in, technical maintenance of the apartments, and more.
Some apartment complexes are built initially to be rented out. They usually include hotel services and additional amenities such as pools, spa centers, restaurants, gyms, etc.
When an investment asset is sold, the management company or developer offers the buyer a contract. According to this document, the company undertakes to manage the real estate and receives compensation, while the owner receives a certain profit.
Investors often receive a fixed income of 5–7% per year. The remaining profit is used to pay the company's services. There are other ways to distribute the income among the owners. This type of investment is very convenient for foreigners who see the apartment as an asset but do not plan to live permanently in the Kingdom.
Luxury villas are a more expensive but also commonly used asset for rental business. In modern residential communities, homes have functional layouts, stylish finishes, panoramic windows, pools, and other amenities. Villas are popular with families with children and affluent tourists who prefer to vacation in maximum comfort.
If you are deciding where to buy a house to rent it out, consider the island of Phuket. Today, there are several new low-rise residential complexes with villas and townhouses under construction. These projects are located in prestigious areas with good infrastructure. While the development is under construction, buyers have the opportunity to purchase a home on an installment plan directly from the developer.
Is it worth buying property in Thailand?
Foreigners face certain restrictions when buying real estate in Thailand. As an example, ownership of an apartment can only be obtained in certain condominium complexes, usually referred to as condominiums. In addition, foreigners cannot own more than 49% of the total number of units in a condominium.
Leasehold apartments are also available. This type of property is not sold into private ownership. The buyer acquires the right to long-term possession. The standard term is 30 years, renewable twice during a similar period. Leasehold properties are sold at a lower price than condominiums.
The situation with buying villas in Thailand is directly related to land ownership. Today, a foreigner cannot acquire land for a residential house in private ownership. Land is only granted to long-term use (leasehold). If you buy a villa from a developer, he will probably offer you the right to use the land for 30 years with two extensions of 30 years each. The total ownership period is 90 years. Leasehold properties, like freehold properties, can be rented out, sold, and inherited.
The Thai economy is showing stable growth, inflation in the country is within acceptable levels, and real estate prices have been rising during the past 10 years. All this makes the local real estate market attractive to investors and buyers. Even leasehold properties can pay off handsomely, as the demand for rental housing in the resort country is very high.
Let us help you become a property owner in Thailand
You can find suitable houses and apartments in Thailand with the help of our website. We collect offers from verified developers and agencies in one catalog. This way you will be informed about new offers on the market, and you will be able to compare costs and technical parameters of similar properties from different sellers. This allows you to select properties with the best price-quality ratio.
To provide you convenience, there are filters in the search that will help you quickly select only the offers you are interested in, based on cost, property type, location, total area, and many other parameters.
Prices on the website can be viewed in various currencies. As to those focused on buying property from a specific developer or agency, there are separate catalogs with listings from the preferred company. Any questions regarding property selection can be directed to our specialist using the feedback form.