The Best Cities in Thailand to Buy Real Estate

10/14/2024

The Best Cities in Thailand to Buy Real Estate

The decision on which city is the best to buy property in Thailand depends on your goals. If you're purchasing real estate as an investment, it's best to choose popular tourist areas near the sea or central areas of Bangkok. These locations offer highly liquid properties and high rental rates, ensuring a quicker return on investment.

CONTENT:

  • Where is the Best Place to Buy Real Estate in Thailand?
  • Where is the Best Place to Live in Thailand?
  • Is It Profitable to Rent Out Real Estate in Thailand?
  • Is It Worth Buying Property in Thailand?
  • Let Us Help You Become a Property Owner in Thailand

If you are looking for a personal residence and prefer a spacious lifestyle surrounded by picturesque nature, consider the islands of Phuket and Samui, as well as smaller coastal towns.

Among the many advantages of buying real estate in Thailand are:

  • Attractive prices compared to similar properties in the UAE, Europe, and the USA
  • Modern layouts and high-quality construction in convenient residential complexes
  • Comfortable living conditions: warm climate, proximity to the sea, and friendly locals
  • Beautiful nature with tropical forests, waterfalls, caves, cliffs, and uninhabited islands
  • Ideal conditions for practicing water sports

Where is the Best Place to Buy Real Estate in Thailand?

The best cities to buy real estate in Thailand are traditionally popular resort areas such as Phuket, Pattaya, and Samui. The main advantage of living in these cities is access to sandy beaches, tropical forests, and natural parks with rich flora and fauna. These areas also have well-developed infrastructure, with plenty of shops, restaurants, and cafes catering to tourists and expatriates.

The only drawback is that properties in these areas tend to be more expensive than similar properties further from the sea. However, estates in coastal areas are continually appreciating in value and are a great investment.

In new developments, buyers can save significantly by entering into contracts with developers during the construction phase. As the project progresses, property values typically increase by 10–15% per year.

A popular location to buy real estate is the capital, Bangkok, a bustling metropolis with a population of about 5.4 million. The city boasts large shopping malls, international company offices, and an efficient public transportation system. Many Thais move to Bangkok for work, ensuring high demand for properties. Buying apartments in Bangkok is attractive to both investors and those planning to conduct business or work in the city.

For living in Bangkok, modern apartments with amenities in residential complexes are considered the best option. One- and two-bedroom apartments are the most in demand, especially in central locations near infrastructure such as shopping malls, business centers, and schools.

Where is the Best Place to Live in Thailand?

For relocation, Pattaya and Phuket are the most popular cities among foreigners. Both regions are home to many expatriates. Less popular but equally attractive areas include Samui, Hua Hin, and Krabi.

Phuket is known for its beautiful tropical forests and stunning beaches, ideal for surfing and water sports. The island has an international airport, several golf clubs, and national parks. Buyers can choose from small studios to luxurious oceanfront villas. To decide where to live in Phuket, it's best to visit the island and explore different areas. There are both secluded locations near forests and communities with well-developed infrastructure, where schools, markets, and shopping centers are nearby.

On the west coast of Phuket, you’ll find some of the island's most famous beaches and luxury properties. This area is also home to cafes, supermarkets, golf clubs, and traditional Thai markets selling everything from clothing to fresh seafood.

Pattaya is another popular destination for expatriates. The city has well-developed infrastructure with schools, shopping centers, and beautiful beaches. Modern condominiums with amenities such as pools and gyms are a common choice here, providing a comfortable lifestyle.

Hua Hin, located on the west coast of the Gulf of Thailand, is less touristy, making it ideal for those seeking a peaceful life. The city has good beaches, shopping centers, medical facilities, and the Royal Hua Hin Golf Course.

Krabi, known for its unique natural landscapes with cliffs, mangroves, and islands, is popular among divers and climbers.

Samui is a remote island with beautiful beaches and tropical forests. It's less developed than Phuket but perfect for those looking for a peaceful and secluded living environment.

Is It Profitable to Rent Out Real Estate in Thailand?

Investing in property in Thailand is an excellent way to protect your funds from inflation and generate passive income. In popular resort areas, renting out apartments can yield returns of up to 10% annually, which is a competitive figure in the real estate market. The country’s warm climate ensures a high demand for rental apartments and villas year-round, providing a steady income stream for investors.

When evaluating the profitability of rental properties in Thailand, studios and apartments are the most straightforward and lucrative options. These types of accommodations are highly sought after by a wide range of tourists. Additionally, investors can contract with real estate management companies to handle all aspects of the rental process, including finding tenants, preparing the apartment for move-in, and maintaining the property.

Some apartment complexes are designed specifically for rental purposes. These complexes often offer hotel-like services and additional amenities, such as swimming pools, spa centers, restaurants, gyms, and more.

When selling investment properties, developers or management companies may offer buyers a contract. Under this agreement, the company manages the real estate and provides a guaranteed profit to the owner, usually a fixed income of 5–7% per year. The remaining profit covers the management services. There are various methods to distribute income between the owners, making this type of investment especially convenient for foreign investors who view the apartment as an asset but do not plan to live in Thailand permanently.

Luxury villas are another popular, though more expensive, investment for rental purposes. Modern villas are often equipped with functional layouts, high-end finishes, panoramic windows, private pools, and other amenities. Villas attract families and affluent tourists who seek a luxurious vacation experience.

If you're considering purchasing a house to rent out, Phuket is an excellent option. Several new low-rise residential complexes featuring villas and townhouses are currently under development. These projects are located in prestigious areas with solid infrastructure. Buyers also have the opportunity to purchase homes through installment plans directly from the developer during the construction phase.

Is It Worth Buying Property in Thailand?

Foreigners face some restrictions when purchasing real estate in Thailand. For instance, ownership of an apartment is typically limited to certain condominium complexes. Foreigners cannot own more than 49% of the total units in a condominium.

Leasehold apartments are also available, which grant long-term possession but not private ownership. The standard leasehold period is 30 years, with the option to extend it twice for an additional 30 years. Leasehold properties are usually sold at a lower price than freehold condominiums.

When it comes to villas, foreigners cannot acquire land outright but can lease it for long-term use. Most developers offer a 30-year lease term with two extensions of 30 years each, for a total of 90 years. Leasehold properties can still be rented out, sold, or inherited.

Thailand’s stable economic growth, moderate inflation, and consistent rise in real estate prices over the past decade make the local real estate market highly attractive to investors. Even leasehold properties can offer substantial returns, as demand for rental properties in resort areas remains high.

Let Us Help You Become a Property Owner in Thailand

Our website offers a wide selection of houses and apartments in Thailand, all from verified developers and agencies. By gathering various listings in one catalog, we help you stay informed about the latest market offers and compare prices and property features from different sellers, enabling you to find the best value for your investment.

For your convenience, we provide filters that allow you to refine your search by cost, property type, location, total area, and more. Prices are displayed in various currencies. If you prefer to buy from a specific developer or agency, separate catalogs are available for each. You can also contact our specialists through the feedback form for assistance with property selection.

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