In Bangkok, you can almost see new apartment blocks being built everyday on almost every street and all these promise you a life of freedom, happiness and top end lifestyle. Buying a condominium in Bangkok in prime addresses can turn out to be a great investment. If you do the legwork and get a good condo MRT location, you can look forward to great annual returns on your investment over the future.
Under Thai law, even foreigners can rent or purchase condo units under their own names but not the land. This is what allows many people to pump money into the Thai condo units which are quite an attractive option for someone who stays in Bangkok or Thailand for a longer duration of time or visits frequently. The land under which the condo has been built is generally equally shared by all the owners of the condo units in the premises.
Condos are a preferred option due to the tough property laws in Thailand, especially when it comes to land or property ownership. They offer the safest option for purchasing property in Thailand and they are also a relatively affordable option for property purchases. Studio condos are even cheaper and you can buy by the sqm which reduces the cost of acquisition significantly. By owning condos on your name, you will also not be subjected to any punitive business taxes when you buy or sell the property.
Before buying your condos, there are certain questions that you must ask yourself. These include the following:
· Where will you buy?
· What will you buy?
· What is it going to cost you?
Where to buy condos in Bangkok
Bangkok is the largest property market in Bangkok and also the fastest growing market so buying a condo here is always a very good investment. Even if you are buying it as an investment property, you will have a greater chance of renting it out and making some decent money off the property investments or when it comes to the time for selling for the property.
Also, when buying condos in Bangkok, do not go deeper into the suburbs or even the outskirts of Bangkok city. You need to focus on the city centre, and more specifically, choose a condo MRT location or even a BTS route. If you are buying condos for sub-letting, your tenants are most likely going to be foreign and many of these will need easy access to the train station. A condo MRT location will, for example, give the occupants an easy walking distance to the train station which is what is preferred by many renters in Bangkok. Occupants in the MRT and BTS locations can beat the Bangkok traffic throughout the year.
Other areas that have seen massive condo construction include Silom, Sukhumvit and Sathorn roads. These are also places that you could give some consideration. When you purchase in these areas, you will be guaranteeing the occupants a great deal of transportation convenience as well as easy access to many of the services and amenities in Bangkok including bars, cinemas, shops and restaurants.
There are various choices of condos available in Bangkok including furnished condos, unfurnished ones as well as semi-furnished or even fully equipped options that one can choose based on their preferences. Condos can range from studio apartments to the one-bedroom up to three-bedroom condo units in Bangkok based on your budget and preferences.