Thailand is one of the most popular countries among expats and investors who want to buy foreign real estate in Asia. It’s popular due to its stunning natural beauty, economic stability, low cost of living and well-developed infrastructure.
The process of buying a home in Thailand is quite complicated, since foreigners are not allowed to own land in the country. Therefore, apartments in Thailand are the most popular choice among immigrants. Yet, a foreigner can purchase a villa by registering a house, or only a plot under it, for rent for a long time with the right to extend it within time.
If there is a need to buy real estate in Thailand, which areas and cities of the country should be considered first? In this article, we will tell you about the six best locations for buying Thai housing in 2023.
The top 6 places for buying a home in Thailand in 2023 will be opened by the capital of Thailand — Bangkok. The city is the commercial center of Thailand, which makes it a popular choice among foreign entrepreneurs and specialists. According to statistics, about 3 million foreigners live in the Kingdom, most of whom live in the capital of the country.
The city is famous for its modern medical facilities, high-class schools (there are more than 130 international schools in Bangkok) and a variety of elite condominiums.
Bangkok is a densely populated dynamic metropolis. The housing stock here is mainly represented by apartments in a condo, although if desired, you can find a villa or a townhouse. Apartments in multi-storey buildings are divided into three categories: economy, middle class and luxury. Bangkok has the highest real estate prices in Thailand: the average cost of 1 m2 of apartments in the central districts of the city at the beginning of 2023 was 194,000 baht ($5,672), while in premium-class projects, it exceeds 300,000 baht ($8,770). The average price of 1 m2 outside the center is 90,000 baht ($2,631).
The most prestigious areas for buying real estate in Bangkok:
- Sukhumvit Road
The second place in the ranking of the most popular locations for buying real estate in Thailand in 2023 is taken by Phuket, an island on the Andaman Sea, famous for its amazing sandy beaches, lush greenery and resort infrastructure facilities.
Yacht clubs, golf courses, tennis courts, international schools and kindergartens, as well as hospitals with world-class medical care are all created for a comfortable stay in Phuket.
Condominiums in Phuket are very popular among foreign citizens. The cost of 1 m2 of living space in condominiums on the island today on average is around 108,750 baht ($3,180) in the best locations of the island and about 73,750 baht ($2,158) in areas remote from the center.
Foreigners can also purchase a villa or townhouse with private pools, gardens and recreational areas. House prices in Phuket currently start at 2.95 million baht ($86,300) for a small house built several decades ago. The cost of townhouses varies from $100,000 to $500,000.
The most popular locations for purchasing a property in Phuket are:
- Kata and Karon beaches
- Bang Tao Beach
Hua Hin is a small town located in Prachuap Khiri Khan Province south of Bangkok. Hua Hin is considered the safest city in Thailand due to the presence of a functioning royal residence. The first row along the embankment is being built with hotels and condominiums no higher than seven floors.
Housing prices in Hua Hin depend on the type of property, location and characteristics of the units. Apartments in Hua Hin are built with a minimum area of 40 m2. The average cost of 1 m2 in the city center in Q1 2023 was 72,500 baht ($2,120) and outside the center 51,000 baht ($1,491). Renting a one-bedroom apartment in the city center will cost an average of 12,500 baht ($365). You can buy a premium-level villa in the city of Hua Hin, Thailand, on the first coastline for $1 million. Away from the beach, houses can be purchased for $250,000 and cheaper.
The best areas for buying real estate in Hua Hin:
- Hua Hin
- Kao Takiab
- Soy 112
Pattaya is a small resort town. The lifestyle here is much more relaxed than in Bangkok, but the local public transport is not developed. The city is famous for its beaches and entertainment facilities.
Pattaya is the second most popular tourist destination in Thailand and one of the leading seaside resorts in Asia. Housing in the city is represented by various types of apartment buildings, including medium-rise (four to ten floors) and high-rise. There are also many budget residential complexes without amenities and security. As for the prices for apartments in such residential complexes, they start from $14,500.
Modern prestigious complexes have swimming pools, co-working spaces, gyms, restaurants, various entertainment venues, as well as round-the-clock security and video surveillance. Studios in such houses cost from $58,000. Today you can buy a penthouse in Pattaya for up to $3 million.
Areas for buying the best real estate in Pattaya:
- Central Pattaya
- Jomtien and Najomtien
- East Pattaya
- Baan Ampur and Bangsarai
Chiang Mai is the cultural capital of Thailand with hundreds of temples. The city, which has its history since the 13th century, is recognised as a UNESCO World Heritage Site. It is located in a mountainous area, where the climate is slightly cooler than on the coast.
Chiang Mai and its surroundings are very attractive: there are low real estate prices; many high-class medical institutions and international schools for students of all ages. Chiang Mai is provided with a well-developed transport network: public transport is available, and there are many parking spaces.
The housing stock in Chiang Mai provides a wide choice: you can buy an apartment in a new building in Thailand or buy apartments in an old apartment building. The cost of housing depends on the type of real estate and its individual characteristics. The average price per 1 m2 is $1,480, so a decent apartment would cost you about $92,800. You can also buy a three-bedroom villa outside the city center for $123,000. A 222 m2 penthouse with two bedrooms at the beginning of Q2 2023 was offered for sale at 20 million baht, or $584,300.
The best areas for buying real estate in Chiang Mai:
- Nimmanhamin Road
Koh Samui is located on the east coast of Thailand. It attracts tourists from all over the world with its amazing beaches, favourable climate, unique nature and mesmerising Buddhist temples. The main difference between Koh Samui and the other listed locations is that you can only get here by air or by sea.
Koh Samui is home to only 65,000 people, but more than 2.5 million foreign tourists visit it every year. Many expats call the island a great place to live after retirement.
The housing stock on Koh Samui includes villas, cottages, chalets, townhouses and apartments in condominiums. The villas on the island mainly have three bedrooms, a spacious courtyard, a garden and a swimming pool. There are swimming pools and gyms on the territory of apartment buildings and townhouses, and most often, a security system is provided. Some residences provide access to additional services from management companies, for example, spas and tennis courts. Some of the residences have private beaches.
The average cost of m2 is $2,682 with prices for residential properties ranging from $108,000 to $12.3 million.
The best areas for buying real estate on Koh Samui:
- North-eastern parts
- North Coast
- West Coast
Thailand has a lot to offer: from the cultural capital of Chiang Mai, a UNESCO World Heritage Site, to the lively nightlife of Bangkok and the white sandy beaches of Phuket. The demand for housing is slowly but surely growing in Hua Hin, Koh Samui and Pattaya.
When choosing a region to live in Thailand, you should take into account the purpose of the purchase (permanent residence or investing in order to generate income). Experts advise to choose popular tourist destinations for purchasing a residential property for rent and to focus on personal preferences, the availability of infrastructure and the peculiarities of the microclimate in a particular city when buying a home for your own residence.