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Bangkok Property Buyers’ Guide

Bangkok Property Buyers’ Guide

Thailand has everything you could want from a paradise holiday destination. With golden sandy beaches, year-round warmth, exotic cuisine, a rich culture, friendly people and a low cost of living, Thailand and its capital city, Bangkok, has become an increasingly popular choice for property purchase for foreign nationals and expats.

With this in mind, we’ve compiled this detailed guide to offer key insights into purchasing property in Bangkok.

Why Bangkok?

As a global lifestyle destination, offering an almost never-ending list of things to see, do and experience, Bangkok has it all. The city itself is a metropolitan cocktail of bars, clubs, malls and restaurants fused with traditional values and strong cultural heritage. This is one of the many reasons that Bangkok is now a regional economic hub for commercial career opportunities across Southeast Asia. A multicultural, technicoloured fusion of both western and eastern ideology, Bangkok has also become an increasingly popular investment destination for foreign investors and expats alike. In recent years, property developers have actively launched a series of residential projects, resulting in fierce inter-developer competition.

A positive outcome of this competition, however, is the increasingly high-quality residential developments on offer that offer a huge selection of facilities. Bangkok developments now often include luxury facilities such as pools, gyms, libraries and even rooftop garden spaces as a standard.

Weather

Bangkok is home to incredible weather almost all year round. Between November and March, temperatures often range between the high 20s and mid 30s, whilst even on cool days, temperatures don’t tend to drop below the low-20s. During the winter months, particularly December and January, this can drop to around 15 degrees Celsius. Though temperatures can reach uncomfortable levels during the day, precipitation and humidity levels are at their lowest between November and March, making it a very popular time to visit.

High levels of heat, humidity and rainfall are usually expected from April onwards, with monsoon season kicking in from May to October, so these times of year are usually low on tourists, thanks to high temperatures and heavy rainfall.

Culture

Influenced by modern technologies, yet still retaining its proud heritage, links to traditional values and Buddhist spirituality, Bangkok’s culture is everywhere. From the food to the language, to music, dance, the arts and world-famous Buddhist temples, culture reaches every street corner in Bangkok. Buddhism is the predominant religion in Bangkok, with monks, temples, spirit houses and Buddhist iconography lining the streets. It is expected that appropriate clothing is worn in temples, and shoes removed before entering. There is also a sizeable Muslim community scattered around the city.

Several behaviours should be upheld in Bangkok, and Thailand as a whole, with a calm, peaceful and harmonious demeanour considered the appropriate way to present oneself. Bad temper, raised voices, threatening gestures and arguing should be avoided in Thailand, as most Thais believe this to be incredibly disrespectful. Thais take great pride in their monarchy, especially the King and visitors are well-advised to respect the esteem in which locals hold the Thai Royal family.

Where To Buy?

One of the most popular areas in the whole of Bangkok to purchase property is along the Sukhumvit Road. This is mostly due to the multiple Skyline stations that exist across this area. Popular with foreigners and expats, Sukhumvit Road makes up the core of Bangkok’s city centre, and it’s here you will find the vast majority of condo buildings, restaurants, shopping malls and bars.

Let’s take a closer look at some of the best places along the Bangkok Mass Transit Systems line to purchase a property in Bangkok.

Asoke

Due to the difficulty of travelling across Bangkok in a car due to high congestion, most people tend to choose to buy or rent homes close to BTS (Bangkok Mass Transit Systems) stations. One of the main BTS stations in Bangkok is Asoke. Asoke is a commercial area with the main BTS Skyline station located on Sukhumvit Road.

Nana

Nana is a popular BTS station and located just beside Asoke. Property prices are slightly less overall, but not dissimilar to Asoke, which is the most expensive area in Bangkok. Here, you have easy access to both the BTS and MRT lines, whilst the area itself has many condo buildings, shopping malls, restaurants, bars and is sought after by many expats.

Phrom Phong

Phrom Phong is a neighbouring area of Asoke and within walking distance from the Asoke BTS station. There are several restaurants and shopping malls here, including Emporium which is a popular place among foreigners and locals alike.

Thong Lo

Thong Lo is popular among expats, with a big Japanese community living in the area. Due to high occupancy rates and proximity to the Thong Lo BTS station, prices here are slightly higher than in other parts of Bangkok.

Property Types

There are several different types of property in Thailand, below are some of the most common types you will find available to purchase or rent:

Single House

A single house in Thailand ordinarily consists of two floors, including 2-3 bedrooms and bathrooms, one living room and one kitchen. This type of property is often secluded and tends to be costly.

Twin House

A twin house is aesthetically similar to a single house, only with a shared wall on one side. This type of property is uncommon in Thailand and may be difficult to find.

Town Home

Featuring modern and luxurious designs, this type of residential building is very popular across Thailand, especially in major cities like Bangkok and surrounding provinces with a high land value.

Apartment

In Thailand, an “Apartment” is a singular rental room in a residential building that is normally owned by one person. The room itself may be equipped with furniture such as a bed and a wardrobe but will usually have no kitchen, so the rental fees are not too expensive.

Condo

Similar to an apartment, in Thailand, a condominium is an individually owned room in a residential property that is sold through a property development company. This means you can buy or rent your condo from the property agent or owner. A condo normally will come with a kitchen but is less likely to be furnished or equipped with any amenities.

Prices

Although condos in Thailand will vary significantly in price depending on size and location, so no exact figure can be provided, the size of a condo in metres squared is used to determine the value and rental potential of a property. In Bangkok, the state-entry level for a property is considered anything below 70,000 Baht per square metre. Below is a table representing the average costs of property compared with size, to provide a rough idea of cost and availability in different areas surrounding Bangkok:

Levels:

  • Entry - -> Below ฿70,000 (Price per m²)
  • 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 purchasing a new condo, the starting price for a one-bedroom, 22sq metre property is around 1 million Baht, roughly 45,000 THB per square metre. This would be the price of a basic condo a distance away from public transport or the nearest BTS line. A similar-sized condo located within a couple of hundred metres of a BTS line in central Bangkok is likely to cost over 2.5 million Baht.

Complications

In general, foreigners are not allowed to directly purchase land in Thailand. This is because Thai laws prohibit them from owning land in their name. This refers to almost any villa, estate house or townhouse, the ownership of which is tied directly to the land. Foreigners are allowed to purchase property, but only the physical building itself, usually leasing the land from a Thai company.

Foreign buyers are specifically encouraged to use Thai company structures when considering purchasing property in Thailand, to avoid complicated legal scrutiny. Most people will purchase a thirty-year lease which is automatically renewable two more times, lasting ninety years in total.

Seek Legal Advice

One of the earliest and most important steps in buying a property in Thailand is to hire a respected Thai solicitor, as, without professional advice and counsel of a national, it can be incredibly complicated and time-consuming to make sense of the legal ramifications. Across Thailand, many foreign buyers will purchase a property without having seen it in the flesh, and they may not even get the chance to view it for years after signing the initial contracts. Unfortunately, due to many people buying property in this manner, several agents will take advantage of the ownership issues. This is why it’s so important to seek the appropriate representation before you even begin viewing properties.

OfferPal - Property Solutions Across Bangkok and Thailand


At OfferPal, we aim to help you find your dream home by matching buyers with the perfect properties. Whether you’re looking for a condo, townhouse or apartment, we have a vast range of listings for all types of buyers. Working with some of the leading names in real estate, you can rest assured in the knowledge that our partners are experienced, serious and dedicated to providing the best international properties available. To start your journey with OfferPal and find the perfect property in Bangkok. Contact us today or visit our website to browse stunning apartments, houses and condominiums.

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