Should You Buy or Rent a Condo in Thailand? What Expats Say

Unsure whether to buy or rent a condo in Thailand? Here's both sides of the argument, based on local insights and real-life experiences of current expats.

[yoon]

Definitely buy. I’ve been in Thailand since ‘99. Bought my first condo in 2001 since I got sick of dealing with the owners and worrying about whether I would receive my full deposit or not. I (and my wife) currently own 18 condos (as of 2023) all paid for and all rented out on 1-2 years contracts while living in a 10 million baht home. Will be closing contract on our 19th condo (presale) within 3 months. The income my wife and I receive from our condos is over 200, 000baht a month. Net positive cash flow. We also have no problem with renovations every year in preparation for new tenants. It’s a business. We treat it as such. Location is also very important. Most of our condos are a little further outside Bangkok (which is how we were able to afford so many condos) near universities, industrial zones and large shopping centers.

People saying never buy a condo either have no clue what they are talking about or only see the surface and are too lazy to dig deeper. It’s all about personal circumstances and what you want.

[louis]

For me coming from a different country, I rent first. Then explore and might buy one but not in a hurry to buy anything.

[sorry]

I live in North Pattaya right on the beach, the 14th floor that I am on has only one tenant me. I can see the other condos around me completely dark probably 70%. I can easily afford a condo or 10 but I prefer to stay on the go a bit moving every two or three months. For me it’s just fun to see new things and new places in new neighborhoods. I believe a lot of these comments are real estate people.

[JeanGuyRiouxJr]

Much to do with age and health condition. I drew the line at 65. Before 55 buy and pay cash; after 65, rent.

[Nordic_Sky]

In general, buying in Thailand is a bad idea. Property values aren't increasing, and the market favors new product, which hurts you in a resale. Buy only if you know you will want the unit for the long term and don't want to live with the constraints of being in a rental (not being able to customize it, not being certain how long you can stay there, rent uncertainty, etc.) Make sure you understand the market well before deciding to buy. It's a bad feeling to realize after you've bought that you wish you had bought somewhere else.

[neilallison]

Many farangs find a nice place to live, buy a condo and actually dont worry about profit. I and many others have saved million over a long term through purchase versus rent

[FitandFabinvestor]

Me and my Thai wife bought a two bedroom, two bathroom condo during Covid restrictions for 2.8M baht size i 78sqm. Should be worth 4 million now. I financed it back home and inflation is basically eating my loan up now 👍. And doing finance here now has given my wife good credit with the banks in Thailand. Big. Win 🏆

[tonythaiger]

When I see 60%+ of high rise condo units in Bangkok pitch dark on Monday evening, that makes me never buy & rent out.

[sflxn]

I've owned my own properties in the past in the USA. It's good there when you're young and building wealth since you can lock in mortgage rates and prices. In other parts of the world, such as Thailand, mortgages are nonexistent or very unattractive to foreigners (high rates). Unless you're young and building wealth and can get a good mortgage, buying really has no value other than allowing you to customize it. Remember, the problem in Thailand isn't buying but selling it afterwards. Thailand is overbuilding like crazy, trying to cater to foreign investors so will you be able to sell it in a crowded supply? Rent and enjoy your life here. Renting is still cheap here. The property market here isn't like the Evergrande debacle in China, but there sure are echoes of it.

[guybroughton]

I bought a condo in South Pattaya 30 years ago, then built it out very nice. I'm still here.

[garyaltenburger]

I bought a nice 60 square meter condo in Jomtien 20 years ago. I really liked that condo and never had any problem with anything about it. I now live upcountry in my wife's house so recently sold the condo for double what I paid for it. It sold quickly.

[christianpatton]

Depends on a lot of things, resale is a common problem with Thailand condos as Thai’s seem to prefer buying new.
Also you invest the same money elsewhere and easily cover rent for the same property without the risks of owning.
For example I recently looked at a luxury condo in the Asoke area for $355, 000Aud.
Identical units in the building rent for around $900Aud per month. But investing the $355, 000 in a simple term deposit in Australia would net around $1, 300Aud per month.

[georgequek]

We bought a condo about ten years ago without problem and still our vacation home near to cbd, bts, malls in BKK Kap.🙏

[nickybyrne]

Great advice. So buy at home and use the capital to pay the rent in Thailand it is then.

[jiminhart]

The inflationary period we're living through not just in Thailand but everywhere has reminded some of us that if you buy you are controlling costs more effectively in the long term.

[antonioperezosorio]

Very assertive, as usual. Thanks for sharing all that valuable info. Be safe. Gid bless you👍🏿.

[adamaputesol]

What is the situation for renting and bringing a large dog?

[lisah]

Hi... Have something to ask.
Am looking for Condos to Rent in Din Daeng Bangkok...all Real Estate Agents want a recent Reference regarding previous Rental History in Thailand.
How do you get one if haven't Rented before in Thailand ???

[ShoMac]

thank you for the info. cant wait to visit your beautiful country

[SynthSense-AI]

Hey are you renting houses? Your url doesn't work so I can't send you a message