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What influences the cost of real estate in Thailand?

Home page » Useful information » What influences the cost of real estate in Thailand?
Author of the article:
Maksim
Thailand
Real Estate Specialist
Date:  24.02.2024
Reading time: 10 min.
Views:  227

Thailand is a unique place where rich cultural traditions, magnificent landscapes and modern amenities are combined. This makes it an attractive place to buy real estate, both for investors and for those who are looking for the perfect place to live or relax. However, the cost of real estate in Thailand can vary significantly depending on a number of factors. In this article, we will look at the main ones.

Understanding these factors will help you make an informed choice and invest in a property that suits your needs and preferences.

Housing location

One of the key factors affecting the cost of real estate in ThailandThe most important factor is its location. Proximity to the sea, city center or tourist areas can significantly increase the price of an apartment. For example, properties in popular resorts such as Phuket, Pattaya and Samui are usually more expensive than those in lesser known areas.

It is also important to note that location affects not only the current value, but also the potential value in the future. Areas with rapidly developing infrastructure can offer good investment opportunities, as the value of real estate in them can increase significantly within a few years.

In addition, the location of housing can affect your daily life. Close proximity to shops, restaurants, schools, and hospitals can make life more convenient. On the other hand, housing in quiet and secluded areas can offer more privacy and peace of mind.

Finally, it is worth considering that some areas of Thailand may be more susceptible to flooding or other natural disasters. This can also affect the value of real estate and should be taken into account when choosing a location.

Area and number of rooms

The size of the home and the number of rooms are two important factors that affect cost real estate in Thailand. In most cases, the larger the size of the apartment and the number of rooms, the higher its price. For example, a studio in Pattaya can cost from $30,000, while a one bedroom apartment in the same area can cost from $60,000 and up.

However, the cost per square meter may vary depending on many factors. Location, quality of construction, availability of additional amenities — all this can affect the final cost of housing. For example, a 50-square-meter apartment in central Phuket can cost up to $200,000, while a similar apartment in a more remote area can cost as little as $70,000.

It is also worth considering that apartments with fully completed repairs and furniture are often sold in Thailand. This may increase the cost of the apartment, but on the other hand, the buyer will not have to spend time and money on repairs and furniture.

In conclusion, when selecting apartments in Thailand it is important to consider not only its size and number of rooms, but also many other factors. A thorough market analysis and understanding of the main factors that affect value will help you make the right choice and invest your money as efficiently as possible.

Safety of living and landscaping of the territory

Security of living and well-being of the territory in Thailand play a significant role in the pricing of real estate. For example, apartments in closed residential complexes with round-the-clock security and video surveillance systems can cost 20-30% more than similar objects without such conditions. For example, a two-bedroom apartment in a secure complex in Pattaya can cost about $ 120,000, while a similar apartment without a security system will cost $ 90,000.

The landscaping of the territory also significantly affects the cost. The availability of parks, playgrounds, swimming pools, gyms and other amenities makes housing more attractive to buyers, especially for families with children. So, an apartment in a complex with a swimming pool and playground in Phuket can cost about $ 150,000, while an apartment without these amenities will cost about $ 120,000.

It is important to note that in in Thailand, many apartment complexes offer additional services such as apartment cleaning, laundry, on-site restaurants and spas. These services can also increase the value of the property.

Thus, when choosing a property in Thailand, you should take into account not only the location and size of the apartment, but also the level of security and landscaping of the territory. This will help you not only make your stay more comfortable, but also protect your investment.

Primary and secondary markets, apartment age

The cost of housing also depends on whether it is on the primary or secondary market. New apartments usually cost more, but they can also offer modern amenities and high quality construction. For example, the price of a new one-bedroom apartment in Pattaya can start from $ 50,000, while a similar apartment on the secondary market can cost about $ 40,000.

At the same time, apartments on the secondary market may be more affordable, although their condition may vary. It is important to conduct a thorough inspection of the condition of the apartment and the building as a whole before buying, in order to avoid additional repair costs.

The age of an apartment can also affect its value: as a general rule, the older the apartment, the lower its value. For example, a 10-year-old squareAn artira in Phuket can cost around 30% less than a new apartment with similar features.

However, older apartments can have their own advantages. They are often located in mature areas with developed infrastructure and may have a larger footprint compared to new apartments. Therefore, it is important to consider all factors, not just the age of the apartment, when making a purchase decision.

Protection of the house from weather conditions

Thailand is known for its hot climate, so the protection of a house from weather conditions is an important factor affecting the value of real estate. Homes equipped with air conditioning, sun blinds, and other technologies that increase the comfort of living in hot climates are usually more expensive.

For example, a 70-square-meter apartment equipped with air conditioning in each room can cost about $ 150,000, while a similar apartment without air conditioning will cost about $ 130,000.

It is also worth considering that some houses in thailand they can be equipped with water treatment systems and generators to ensure continuous power supply in the event of a power outage. These additional amenities can also increase the cost of housing.

Moreover, the materials used in construction can also affect the cost. For example, homes built with heat-insulating materials may cost more, but they provide a more comfortable living environment and can save money on air conditioning in the long run.

Furniture and household appliances

More and more buyers are looking for turnkey solutions when it comes to buying real estate in Thailand. Apartments fully furnished with furniture and appliances usually cost 10-15% more than similar apartments without furniture. For example, a one-bedroom apartment in Pattaya without furniture can cost around US$50,000, while a fully furnished apartment in the same building can cost around US$55,000-57,500.

However, it is worth considering that the quality of furniture and household appliances also affects the cost. Apartments with high-quality furniture and modern appliances will cost more than apartments with budget furniture and old appliances.

In addition, many buyers prefer apartments with furniture and appliances, because this removes the burden of responsibility for choosing and delivering furniture and appliances, which can be especially difficult for foreign buyers.

Thus, although furnished apartments are more expensive, they also offer additional amenities for buyers, which may justify their higher cost.

View from the window

The view from the window is not only an aesthetic pleasure, but also a factor that can significantly affect the value of real estate. Imagine waking up every morning and seeing the panorama of the Andaman Sea or Pattaya city skyline right from your window. It's a treat that people are willing to pay for.

Apartments with sea views in Pattaya, for example, can cost anywhere from $ 150,000 to $ 500,000, depending on the area, floor, and proximity to the beach. At the same time, apartments with city views may cost 10-20% less, but they will still cost more than apartments without panoramic views.

In addition, it is important to consider that apartments with good views often have a greater potential for renting out. Tourists and expats are usually willing to pay a premium for the opportunity to enjoy the beautiful view during their stay.

However, it is worth considering that apartments with sea or city views may require more maintenance costs. For example, they may be more susceptible to corrosion due to salty sea air or dust from urban roads. So before buying such an apartment, it is important to consider all these factors.

Construction phase

The cost of an apartment may also vary depending on the stage of construction. Apartments are often cheaper in the initial stages of construction, but their cost may increase as construction is completed. Therefore, it is important to choose the right time to buy in order to get the best deal.

For example, if you decide to buy an apartment during the construction phase, you can save up to 30% of its final cost. However, this is also associated with risks, as construction may be delayed or not even completed. On average, an apartment at the initial stage of construction in Thailand can cost about $ 50,000.

On the other hand, buying an apartment after construction is completed gives you the opportunity to personally evaluate the quality of construction, location and other important factors. However, in this case, the cost of the apartment will be higher. On average, a finished apartment in Thailand can cost anywhere from $ 70,000 to $ 100,000, depending on location and size.

Therefore, choosing the right time to buy an apartment in Thailand is an important decision that can significantly affect your budget and level of satisfaction with the purchase.

Conclusion

Choosing a property in Thailand is an important decision that requires taking into account many factors. Location, size, security, market conditions, availability of furniture and appliances, weather protection, view from the window and construction stage-all this affects the cost of the apartment. Understanding these factors will help you make an informed choice and invest in a property that suits your needs and preferences.

If you have any questions or need help choosing and buying a property in Thailand, you can always contact us. Our team of professionals will be happy to help you find the perfect option that meets all your needs and preferences.

Frequently Asked Questions

  • Location strongly influences the price: proximity to the sea, city center or tourist areas increases the cost. The developing infrastructure of the area can also increase the future value of real estate.

  • A larger area and number of rooms usually increase the value of the property, offering more space and comfort for living.

  • Yes, apartments in complexes with round-the-clock security and additional amenities are more expensive, providing a high level of security and comfort.

  • New apartments on the primary market are usually more expensive due to modern amenities and high quality construction. Apartments on the secondary market may be more affordable, but they will require a condition check.

  • The apartment is older, but its cost may be lower due to wear and tear. However, older apartments in developed areas may offer more space and amenities.

  • In the hot climate of Thailand, air-conditioned homes with thermal insulation provide comfort and economy, which increases their cost.

  • Turnkey apartments, fully equipped with furniture and appliances, are more expensive, but save the buyer time and money for arrangement.

  • Apartments with beautiful views, such as the sea or the city, are more expensive because of their uniqueness and the possibility to rent them out at a high price.

  • Apartments in the initial stages of construction may cost less, but with the risk of delays. Ready-made apartments allow you to evaluate the quality, but their cost is higher.

  • We offer professional assistance in choosing a property, taking into account all your needs and preferences, to find the perfect option.

How does location affect the value of real estate in Thailand?

  • Location strongly influences the price: proximity to the sea, city center or tourist areas increases the cost. The developing infrastructure of the area can also increase the future value of real estate.

Why is the size and number of rooms important when choosing a property?

  • A larger area and number of rooms usually increase the value of the property, offering more space and comfort for living.

Does the security and landscaping of the territory affect the price?

  • Yes, apartments in complexes with round-the-clock security and additional amenities are more expensive, providing a high level of security and comfort.

How do primary and secondary markets differ in value?

  • New apartments on the primary market are usually more expensive due to modern amenities and high quality construction. Apartments on the secondary market may be more affordable, but they will require a condition check.

How does the age of an apartment affect its value?

  • The apartment is older, but its cost may be lower due to wear and tear. However, older apartments in developed areas may offer more space and amenities.

Why is it important to protect your home from weather conditions?

  • In the hot climate of Thailand, air-conditioned homes with thermal insulation provide comfort and economy, which increases their cost.

How does the availability of furniture and household appliances affect the price?

  • Turnkey apartments, fully equipped with furniture and appliances, are more expensive, but save the buyer time and money for arrangement.

How can the view from the window affect the value of real estate?

  • Apartments with beautiful views, such as the sea or the city, are more expensive because of their uniqueness and the possibility to rent them out at a high price.

How does the construction phase affect the cost of an apartment?

  • Apartments in the initial stages of construction may cost less, but with the risk of delays. Ready-made apartments allow you to evaluate the quality, but their cost is higher.

How can I get help choosing and buying real estate in Thailand?

  • We offer professional assistance in choosing a property, taking into account all your needs and preferences, to find the perfect option.

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