Bangkok 2019: The Best Destinations to Buy a Condominium
Many foreigners dream of buying a condo in Bangkok and living in this famous city. It may be for when they retire. Or, perhaps, they plan to live or work in the city and use the condo as a base for their travels within Thailand or the region.
But just what is it about buying a condo in Bangkok which appeals to foreigners of so many nationalities?
- Let’s start with the city itself. For five years in a row, Bangkok has been the most visited capital city in the world. Almost 23 million visitors are forecast for 2019. Both tourists and business people alike enjoy visiting the “City of Angels”. With its world-renowned food such as a Pad Thai or green curry and huge variety of shopping choices, these are just two reasons why people like to visit. Then there are the palaces and other tourist sites, the mighty Chaophraya river, art galleries, museums and historical sites and so on. I think you get the picture….
- Compared to other major Asian cities, living and buying a condo in Bangkok is still relatively cheap. Certainly, compared to Hong Kong or Singapore, where prices can be more than 5 times greater than the equivalent in Bangkok. More space, lower costs and maybe more things to do in the city—which is now, of course, much easier to get around with the extensive BTS (sky train) and MRT (underground) networks;
- Foreigners can own 100% of a condominium on a freehold basis. That is, the condo is yours for as long as you want it! Legally, foreigners cannot own land in Thailand. Even though some foreigners take leases for up to 30 years on land or houses and land, ownership usually stays with the Thai landowner;
- Better quality condos invariably have a management team on site who will take care of the common areas cleaning and upkeep. For example, keeping the swimming pool clean and the gymnasium in good condition. The management will also usually provide receptionists to the main entrance and security guards to control parking and patrol the building. There is, of course, a charge for such services. These charges are allocated between condo owners, usually according to the percentage of floor area the condo unit has in relation to the rest of the building;
- If you own a condo in Bangkok and like or have to travel frequently, it’s easy to lock it up and go away. No worrying about the garden or whether your property is secure whilst you are somewhere else enjoying yourself.
- Condos in popular locations and with good amenities such as a pool or gym are relatively easy to rent out if you plan to be away for an extended period of time. Alternatively, you can buy a condo in Bangkok simply for investment. Rental returns are certainly better than keeping your money in the bank. Always make sure you get a signed formal lease document and a security deposit, and that the monthly rent is paid directly to your bank…. and away you go!
For anyone interested in buying a condo in Bangkok start your search with us browsing through our listings and find the property of your dreams!