Cost of a Thai Condo
Most people compare the size of a condo in meters squared to determine the value and rental potential of a property. CBRE Thailand released an overview of 2018 Q3 condos in Bangkok and as we can see from their table below, they state entry level is considered anything below 70,000 Baht per square meter. Their report above also gives a good idea of costs and availability in different areas in Bangkok.
| Level | Price per m² |
| Entry | Below ฿70,000 |
| Mid-Range | ฿70,000 – ฿89,999 |
| Upper-Mid-Range | ฿90,000 – ฿119,999 |
| High End | ฿120,000 – ฿199,999 |
| Luxury | ฿200,000 – ฿299,999 |
| Super Luxury | Above ฿300,000 |
In terms of new condos, the starting price for a one bedroom, 22 sq meter property is around 1 million Baht (45,000 THB per meter squared). This would be the price of a basic condo away from the BTS / public transport and built by a developer such as Lumpini.
A similar sized condo located within a couple hundred meters of a BTS line in central Bangkok could well be over 2.5 million Baht – a huge difference.
Looking outside of Bangkok, prices do vary a lot. Prime locations in Phuket rival the high end Bangkok properties, while condos in smaller towns and cities are similarly priced to those on the outskirts of Bangkok.
My 64 sq meter condo cost 2.6 million Baht which works out at a little over 40,000 THB per square meter. As you can see from the table above, it is definitely in the entry level guide and I would agree with that assessment. My condo doesn’t have a built-in swimming pool, gym or library.
It is a simple building with basic facilities, but that is all I need. Sure, my building is a little rough around the edges and the staff don’t wear matching uniforms, but it doesn’t bother me.
If you are looking at getting a bargain then there is the option to buy an old condo. You will often find owners who are willing to drop their asking price to secure a sale. Some buildings have multiple units for sale and are great places to bargain hunt.
Types of Condo
There are many different types of condos you can buy. Properties range from studio rooms to five bedroom penthouses. For more in depth information, take a look at http://www.krkproperty.com/
There are two pieces of advice I want to pass on about the type of condo you buy.
The first is that studio rooms are cheap, but I can tell you from experience that it is soul destroying to live in a condo where you do everything in the same room. It feels like a prison cell. I lived in a studio for three months when I first came to Thailand, and I tried to spend as much time as possible away from that room.
If you only have the budget for a studio or a room with just a screen between the bedroom and other areas then I honestly implore you to think again if this is how you really want to live.
Secondly is that a lot of one and two bedroom condos suffer from a lack of natural light. I have lived in one bedroom condos where the only window is in the bedroom and you need to have the lights on in the living room even during the middle of the day as there is no natural light coming through.
It can become a problem and was the reason I decided to buy a corner room condo. I now have windows on two sides of my condo compared to just one in normal condos. It cost me about 500,000 Baht more than a standard room but the benefit is huge.
https://www.expatden.com/thailand/buying-a-condo-in-thailand/#:~:text=All%20money%20for%20the%20purchase,governed%20by%20the%20condominium%20act.
krkpropertythailand
ธ.ไทยพาณิชย์
อีเมล : krkproperty2015@gmail.com
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