Apartments for sale in Thailand
Anyone can buy flats for sale in Thailand, regardless of citizenship. Foreigners are allowed to own apartments in freehold residential complexes and condominiums. Today, a lot of apartment buildings have already been built and are being built in the country, where you can find different types of residences:
- studio units;
- apartments with 1–5 bedrooms;
- two-level duplexes;
- exclusive penthouses.
The process of purchasing property in Thailand in most cases involves a specialized agency. The staff of the real estate company have a good understanding of the local market and help you choose the best type of property in accordance with the your wishes. The agency also fully supports the transaction, provides the services of lawyers and translators (for foreigners).
Today, many new residential complexes are being built on the territory of the country, where you can buy apartments directly from the developer. In this case, the buyer enters into a contract directly with the construction company. This deal has its advantages:
- original developer rates;
- payment in interest-free installments;
- discounts for full prepayment;
- an opportunity to make certain changes to the layout and design of future housing.
The developer often offers buyers a property management service. Many people purchase real estate in Thailand for investment. For this reason, the country has a large number of serviced residential complexes and aparthotels.
Many flats in Thailand are rented through intermediaries. Property owners enter into an agreement with a management company and receive stable passive income, as well as the opportunity to live in the purchased apartment for a certain number of days each year. The management company takes care of all issues related to finding tenants, preparing housing for occupancy, troubleshooting, minor repairs, maintenance, paying utility bills and taxes. The owner simply receives passive income and can permanently reside in another country.
Apartment prices in Thailand
The cost of apartments in Thailand directly depends on the location of the residential complex. The most expensive residences are located in popular resort regions such as Phuket, Pattaya and Bangkok. Other important criteria that determine the value of real estate include:
- year of construction of a residential house in Thailand;
- quality of interior finishing;
- type of layout, number of bedrooms and total area;
- if there are hotel services and amenities on the territory of the residential complex.
The newer and more modern the residential complex is, the more additional amenities it offers and the higher the value of the property will be. Apartments located in areas with good infrastructure, close to shops, schools, and public transport stops are more expensive.
Buyers who want to purchase housing on favorable terms should consider offers from local developers. As a rule, the price of an off-plan unit is lower than that of a fully finished option in a new building. In addition, developers sometimes offer discounts and bonuses to buyers.
The starting price of apartments in Thailand is about $23,300. For this amount, you can buy a small studio with an area of 30 m² in Pattaya. The popular island of Phuket is known for its more expensive properties. Here, 1-bedroom apartments with an area of 39 m² are sold for $100,000. In Bangkok you can find small apartments with an area of 29 m² for $64,000.
Investment apartments in Thailand
Apartments in Thailand for investment will be an excellent option for saving money and making a profit. The country's economy is developing, the tourism industry is gradually recovering from the pandemic, which is contributing to rising real estate prices. This guarantees investors the safety of their investments and ensures stable passive income.
Buying off-plan apartments in Thailand is a great option for a short-term investment. As the project progresses, housing prices will rise. For example, in Phuket, apartments in a residential complex under development rise in price by about 10–15% per year. After the complex is handed over, such real estate can be resold at a considerably higher price.
For those who plan to rent out housing, it is best to choose residential complexes in resort regions, where you can get a guaranteed income almost all year round. To increase the attractiveness of a property among potential tenants, we recommend considering real estate with a wide selection of amenities and hotel services.
A rental apartment in Thailand can generate income of up to 10% per year. Apartments from the developer in the first years after handover provide a profit of 5% to 7% per annum. As tourism demand develops, the property’s ROI will increase.
Buying an apartment in Thailand
It is best to buy housing in Thailand through reliable agencies or construction companies. For your convenience, we have collected the latest offers from trusted developers and realtors in one property database. Our search filters help you select a property by area, cost, location and other parameters. This significantly speeds up the process and allows you to compare similar apartments from different sellers and find the best option for your future purchase.
We monitor new properties and immediately post property listings of apartments. This allows our clients to check out the latest offers and quickly find housing at a good price with the option of paying in installments.
If you have any questions, you can contact our team online.