The 2 most popular places for foreigners to buy property in Thailand are Pattaya and Bangkok. Let us consider each of these locations and why you would want to purchase property there. In this article we will concentrate on condominium purchases simply because it is the easiest type of property for a foreigner to purchase, and have in their own name. Let us start with the Capital of the country:
Bangkok – As this is the financial capital of the country it attracts foreigners from all over the world. There are also many multi-national companies with offices here which mean expatriate workers come to work and live in the capital. You then have the foreign embassy staff that are based here and serve the needs of their own countries nationals. While not everyone who comes to live and work here will buy condominiums, for the one’s that decide they want too either as an investment, or as a holiday home once they retire the choice of accommodation is huge. It ranges from 1 bedroom studio apartments in downtown Bangkok all the way up to 5 bedroom luxury penthouses overlooking the Chao Phraya River, and everything in between. Compared to lots of other Capital cities around the world prices are reasonable, and the standard of build is as good as anywhere else. If you are purchasing with an eye on investment then there is also a healthy rental market which is filled by lots of those expats who are living and working in the city but do not wish to buy property!
Pattaya – Situated less than 2 hours drive from Bangkok, Pattaya has long been a favourite place for foreigners to buy Thailand property. Although there are already many condo blocks constructed and lived in, there are no sign that the building of new projects is abating. Wherever you look in Pattaya there are new complex’s being built from Wongamat Beach in the North all the way to Jomtien in the South with lots in between. When looking at prices here, there is something to suit everyone’s pockets, and again you can purchase a centrally located bachelor pad, or move up to the exclusive Pratumnak Hill area where prices, like the hill the properties are on, rise steeply. Once again the build standards here are excellent, and due to the amount of available properties that are for sale or are currently being built you really can get a bargain if you look around. You will find not only discounts on the asking price, but some companies will offer free kitchens or furniture upon purchase.