Managing an Apartment in Thailand: Maintenance Costs in 2024
The annual maintenance cost for an apartment located in a Thai resort complex is approximately $1,950, depending on the size of the property, infrastructure of the complex, regional tariffs, and consumption of resources and services.
Property Tax in Thailand
The annual property tax is the same for both Thai citizens and foreigners. The tax rate depends on the type of property and how it is used.
No tax is applied if the owner is registered in their property and its value does not exceed 50 million baht ($1.45 million) for villas or 10 million baht ($293,000) for apartments. Otherwise, the tax is calculated based on the cadastral value:
For villas:
- Up to $733,000: 0.03% tax
- $733,000 – $1.45 million: 0.05% tax
- Over $1.45 million: 0.1% tax
For apartments:
- Up to $1.17 million: 0.02% tax
- $1.17 – $1.9 million: 0.03% tax
- $1.9 – $2.6 million: 0.05% tax
- Over $2.6 million: 0.1% tax
For a second property:
- Up to $1.45 million: 0.02% tax
- $1.45 – $2.2 million: 0.03% tax
- $2.2 – $2.9 million: 0.05% tax
- Over $2.9 million: 0.1% tax
Income from renting out property, after deducting management company commissions and expenses, is subject to income tax. The rate is 5% for Thai tax residents and 15% for non-residents.
Utility Costs in Thailand
Electricity and water tariffs depend on regional coefficients and the level of consumption: the lower the consumption, the lower the rate. For example, in Phuket in 2023, consuming 10 m³ of water costs 102 baht ($3), and 150 kWh of electricity costs 714 baht ($21). You can find up-to-date tariffs and calculators on the English versions of the Provincial Electricity Authority and Provincial Water Authority websites.
Most permanent residents in resort areas use gas stoves, and since there is no central gas supply, people use refillable gas cylinders. A 15-liter gas cylinder costs 400–600 baht ($11–18) and lasts for 3–6 months.
Apartment Maintenance in Thailand: Management and Costs in 2024
Maintaining property in Thailand, especially in resort areas, requires accounting for various expenses. According to Numbeo users, utility costs for apartment owners vary depending on the region and consumption levels. On average, owners pay between $30 and $170 per month.
Average monthly utility costs by region:
- Bangkok: $60–170
- Krabi: $30–50
- Pattaya: $50–130
- Phuket: $45–140
- Rayong: $45–145
- Samui: $30–100
- Hua Hin: $40–70
- Chonburi: $40–90
Additional Expenses for Villa Owners
Villa owners, in addition to electricity, water, and gas expenses, also incur costs for garden and pool maintenance. On average, garden maintenance costs between $25 and $100 per month, depending on the size of the garden and the season. Pool maintenance, including 8 visits per month, costs around $120 per month.
Maintenance Fee
Owners of apartments in resort complexes are required to pay an annual maintenance fee to the management company. This fee covers services such as security, garbage disposal, parking, pool, air conditioner, and playground maintenance. The fee is typically calculated at a rate of $0.9–3 per square meter of owned property. Thus, annual maintenance costs for a 30–50 sqm apartment in Phuket range from $600 to $1,100.
It's worth noting that in some cases, the maintenance fee may be covered by the management company, depending on the rental contract and income distribution agreement between the owner and the management company.
Internet and TV Costs
Monthly internet costs in Thailand range from 400 to 1,300 baht ($12–38), depending on the speed and inclusion of TV packages. Major internet providers include TOT, CAT, True, and 3BB, all offering English-language versions of their websites. The average connection fee is around $150.
How to Pay Utility Bills?
There are several ways to pay utility bills in Thailand. The easiest way is to visit a cashier at any 7-Eleven store, which are abundant across the country. Alternatively, payments can be made through a mobile banking app if you have a Thai bank account. In resort complexes with centralized management, the management company usually handles utility payments and provides owners with quarterly or annual expense reports.
Total Annual Expenses
On average, maintaining an apartment in a Thai resort complex costs approximately $1,950 per year. This amount includes the maintenance fee ($1,200), utility costs ($400), and internet and TV (~$350).