Are you looking to invest in a condo in Bangkok but not sure if it’s a good idea? Read on to get our expert opinion with our best condo picks.
Investing in Bangkok condominiums
Investing in real estate is never a bad idea. Bangkok condo Investment in particular has its own rewards as you are assured of the increase in value of your property as time goes by. If you choose for instance to buy a condo worth between THB2.5 to 3 Million, you are assured of at least $500 per month if you rent the unit out. Keep in mind that this amount is set to rise in the future.
Famous for its rich culture and beautiful environs, it doesn’t come as a surprise that foreigners may want to invest in properties here.
Condo projects in Bangkok
There is a myriad of options with new Bangkok condo projects coming up and getting listed by the day. These condominiums aim to attract middle class and high-class investors, both natives and foreigners. Similar features accompanying these condos include fully furnished apartments, WiFi Internet, swimming pool, fitness center, 24-hour security guard and CCTV system among other benefits specifically packaged with each condo. New condo developments Bangkok offers amazing property deals for investors.
Best Condos in BKK
Among the top five of best condo in Bangkok you can choose as an investment include:
- Circle condominiums. With 917 units in total, you have the choice of a studio apartment, a 1, 2, 3 or 4 bedroom unit. Local amenities include schools, hospitals and clinics that do not fall far from this location. Each apartment comes with one parking and there’s a fully functional elevator to facilitate movement to the upper floors.
- Millennium Residences incorporates a collection luxury condominiums with breathtaking panoramic views of Bangkok. The condos have 3 bedrooms, 3 car parking and a 24 hour security guard among other features. These luxury condo Bangkok are the ultimate dream investment.
- Aspire Condo Sathorn units are simple but elegant. Their one bedroom apartments come with an array of modern facilities. They are fairly priced, have beautiful green gardens landscaping the outer areas surrounding the apartment building besides being conveniently close to the shopping Malls.
- Met condominiums are located right in the middle of Bangkok’s central business district. Amenities coupled with this land mark structure include gyms, library, swimming pool, sauna and many more.
- Ideo Mix phahon Yothin is a high end apartment complex that bursts with color owing to its distinct and unique design. It has a shopping center built within its vicinity and stands close to BTS Sapan Kwai station which is a plus in terms of accessibility to and from the residence.
Bangkok Condominium Prices
Bangkok condo price varies depending on location, size and amenities that come with the property.
A normal one-bedroom sized condo in a middle-class area of Bangkok may sell for THB1,200,000 While a one-bedroom condo in a high-end area goes for THB3,990,000.
Factors like proximity to the airport, parking spaces, may lead to an increase in the pricing of the condominiums by up to THB1,000,000.
How to buy a condo in Bangkok
So how do you go about buying a condo in Bangkok as a foreigner?
- First the investor should scout for available condos on sale and take time to choose the one that appeals to him the most.
- Secondly, it is imperative that the investor finds a lawyer from a recognized law firm to aid in the proper and procedural purchase of the condominium. Lawyers play a vital role in ensuring the viability of the property. They can help you do a title search and review contracts before signing.
- An investor has to finally establish a mode of payment. Most people go for mortgage plans. There are a couple of financial institutions that offer mortgages to foreigners providing loans and mortgage bonds in foreign currencies. Note that the initial price of the condo may change due to different interest rates attached to each currency.
Foreigners are urged to be vigilant in noting the specifics of obtaining loans in order to avoid problems during purchase. Foreign investors are encouraged to purchase apartments in Bangkok in cash as it is quite difficult to get funding from the local financial institutions as an outsider. Buying a condo in Thailand for foreigner should not be a complicated process.