Are you considering buying property in Thailand? The country offers many types of property in different locations, from busy cities to quiet towns surrounded by green nature. However, finding out where to buy property in Thailand can be challenging. This guide will explore the best cities, islands, and regions to buy property, whether it’s for residence or an investment.
Where to buy property in Thailand?
Wondering where to buy property in Thailand? These are considered the best places to buy property in Thailand:
- Bangkok
- Phuket
- Koh Tao
- Chiang Mai
- Koh Samui
- Pai
- Pattaya
- Udon Thani
- Koh Phangan
- Krabi
Let’s dive into the reasons for buying property in these places and average prices!
1. Bangkok
Bangkok is the capital city and economic center of Thailand, boasting a population of around 11 million people in 2023. Bangkok uniquely blends a modern lifestyle and a rich cultural heritage. This combination attracts a diverse range of tenants and buyers, including foreigners interested in living in the city.
Reasons to buy property in Bangkok
- Efficient transportation: The city’s efficient transportation network, including the BTS SkyTrain, MRT lines, cabs, tuk-tuks, and buses, makes it easy for residents to get around. This accessibility enhances the property’s value, making a property in Bangkok more attractive to potential buyers.
- New regulatory changes: New regulations to attract foreign investors, such as Thailand’s Investment Visa, are expected to increase foreign investments. These regulations can provide additional opportunities for international investors.
- Booming real estate industry: The growth of the real estate industry is driving urban development in the city. This results in the creation of new condominiums and improved facilities, enhancing the city’s desirability and the potential value of your property.
- Rental yields: The real estate market in Bangkok offers competitive rental yields, typically ranging from 4% to 8%. This means your property can provide a consistent stream of rental income and potential value appreciation.
Property prices in Bangkok
Here are the average property prices in Bangkok, Thailand, categorized by property type:
| Property type | Average price | Average price/m2 | Annual growth | Average rent price |
|---|---|---|---|---|
| Condo | ฿ 7.01 million ($196,225) | ฿ 134,820 ($3,775) | + 5% | ฿ 31,555 ($884) |
| House | ฿ 14.95 million ($418,590) | ฿ 57,960 ($1,623) | + 29.5% | ฿ 84,490 ($2,366) |
| Land | ฿ 26.01 million ($728,387) | ฿ 82,450 ($2,309) | + 48% | ฿ 50,850 ($1,424) |
2. Phuket
Phuket is a beautiful place in Thailand that’s great for families, couples, and groups of friends. The island has clear blue waters, stunning views, and fun activities like paragliding and scuba diving, making it an attractive place to live and invest in property.
Investing in Phuket real estate can be a wise decision, especially with the rapid growth of tourism in this beautiful destination. As more tourists opt for renting villas or condos instead of staying in hotels, buying property in Phuket for investment can provide a reliable source of rental income.
Phuket’s properties have become highly attractive to buyers seeking investments or having a vacation home. The island’s allure has drawn a wave of foreigners eager to buy Phuket properties for financial gains and personal enjoyment.
Reasons to buy property in Phuket
- Phuket investment opportunities: The millions of tourists who visit Phuket each year create significant investment opportunities. People can buy and rent a property to long-term holidaymakers, with property management companies taking care of the rentals. You can find several property types in Phuket, from condos to sea-view villas with private beach access.
- Social and economic factors: Thailand, including Phuket, has a low cost of living, making it an appealing destination for those seeking a long-term stay or retirement. Many foreigners buy property in Phuket, intending to make it their retirement destination.
- Accessibility: The island is just a short flight away from major international hubs, such as Bangkok or Singapore, making it an attractive choice for quick getaways.
- Rising rental demand: The demand for rental properties, including high-end condos and villas, is increasing. Investors can achieve a 4% to 10% annual yield with a growing number of foreign investors.
Property prices in Phuket
Below is an overview of the average property prices in Phuket, Thailand, categorized by property type:
| Type | Average price | Average price/m2 | Annual growth | Average rent price |
|---|---|---|---|---|
| Condo | ฿ 6.08 million ($170,135) | ฿ 96,285 ($2,696) | – 1% | ฿ 45,835 ($1,283) |
| House | ฿ 19.12 million ($535,393) | ฿ 61,300 ($1,716) | – 0.5% | ฿ 94,000 ($2,632) |
| Land | ฿ 33.82 million ($946,997) | ฿ 36,404 ($1,019) | + 30% | ฿ 20,000 ($560) |
3. Koh Tao
Koh Tao is a famous island in Thailand known as “Turtle Island” on the side of the Surat Thani coastline. It’s a favorite place for tourists because it’s an island that has gorgeous beaches, crystal clear sea water, and beautiful coral reefs. Many people visit Koh Tao for diving.
The island has a warm and sunny climate most of the time, although it can rain a lot during the monsoon season. Sometimes, the weather can be unpredictable. Overall, Koh Tao is a warm place to enjoy nature and escape the hustle and bustle of the urban city.
Reasons to buy property in Koh Tao
- Growing appeal: With a mix of short-term vacationers and increasing long-term residents, Koh Tao is becoming a sought-after destination. This growing appeal can potentially make your property a valuable investment.
- Sustainability and accessibility: Koh Tao strongly emphasizes sustainability and maintaining its untouched environment. This means the property investment will likely be in a well-preserved and beautiful location.
- Unique charm: Beyond investment potential, owning property in Koh Tao allows you to enjoy the island’s unique charm, natural beauty, and water-based activities whenever possible.
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4. Chiang Mai
Chiang Mai is Thailand’s second-largest city, located in northern Thailand, with 1.76 million people living there. Chiang Mai is known for being a nice place to live because of its calm atmosphere, nice weather, and affordable living costs. People from different countries are moving to Chiang Mai to retire or live, as the house prices are relatively cheap.
Chiang Mai’s real estate market has grown rapidly in recent years, making it a potentially lucrative investment. The city attracts tourists, expats, and digital nomads, which can translate into rental income and property value appreciation.
Reasons to buy property in Chiang Mai
- Diverse lifestyle: Chiang Mai caters to various lifestyle preferences. You can enjoy multiple activities, from sports to exploring the local culture. The city has a vibrant restaurant and entertainment scene, so there’s always something to do.
- Excellent infrastructure: The city boasts outstanding infrastructure, including a well-connected road network and an international airport. This makes it convenient for residents and tourists alike.
- Healthcare quality: Chiang Mai offers top-quality medical care with numerous hospitals and healthcare facilities, making it a suitable place to live for people of all ages.
- Strategic location: Chiang Mai’s strategic location within the ASEAN Economic Community positions it as a potential business hub, which could lead to future economic growth.
- Attractive climate: The city experiences a diverse climate with cooler “winter” months from November to February, providing relief from the heat. This pleasant weather is appealing to many.
Property prices in Chiang Mai
Below is an overview of the average property prices in Chiang Mai, Thailand, categorized by property type:
| Type | Average price | Average price/m2 | Annual growth | Average rent price |
|---|---|---|---|---|
| Condo | ฿ 2.76 million ($77,395) | ฿ 60,470 ($1,693) | + 12% | ฿ 15,620 ($437) |
| House | ฿ 5.31 million ($148,546) | ฿ 25,390 ($711) | – 0.5% | ฿ 25,090 ($703) |
| Land | ฿ 6.43 million ($180,136) | ฿ 11,215 ($314) | + 30.5% | ฿ 31,880 ($893) |
5. Koh Samui
Koh Samui is a famous island in Thailand that offers various accommodations, from traditional Thai bungalows to 5-star hotels, apartments, and luxury villas. The island successfully combines modern infrastructure with a traditional tropical atmosphere. Unlike Phuket, Samui is more private, quiet, and surrounded by the sea.
Koh Samui is a promising prospect for real estate investment due to its natural beauty, famous beaches and sunsets, and the expanding tourism industry, which creates consistent demand for rental properties.
Reasons to buy property in Koh Samui
- Growing business hub: As Koh Samui develops into a growing business hub, real estate prices are expected to rise, potentially increasing the value of your investment.
- Exotic appeal: The island’s exotic charm, rich cultural heritage, and delicious Thai cuisine make it an appealing and unique destination for property investment.
- Steadily appreciating property values: Property values in Koh Samui have been steadily appreciating, making it a favorable location for long-term real estate investment.
- Comfortable island: The island boasts excellent conveniences, ensuring a comfortable lifestyle for both residents and tourists.
Property prices in Koh Samui
Below is an overview of the average property prices in Koh Samui, categorized by property type:
| Type | Average price | Average price/m2 | Annual growth | Average rent price |
|---|---|---|---|---|
| Condo | ฿ 1.68 million ($47,034) | ฿ 58,020 ($1,625) | 0 % | ฿ 10,512 ($294) |
| House | ฿ 4.09 million ($114,648) | ฿ 20,291 ($568) | + 10.5% | ฿ 18,814 ($527) |
| Land | ฿ 5.24 million ($146,650) | ฿ 3,284 ($91.95) | + 51% | ฿ 18,442 ($516) |
6. Pai
Pai, a charming village in Northern Thailand’s Mae Hong Son Province, is a haven for backpackers, nature lovers, and adventure enthusiasts. Pai is known for its stunning mountainous landscape, encompassing rice fields, waterfalls, and canyons. With attractions like Pam Bok Waterfall, Mo Paeng Waterfall, and the iconic Pai Canyon, this destination is a must for those seeking natural beauty and outdoor adventures.
Reasons to buy property in Pai
- Peaceful lifestyle: Pai offers a calm escape from bustling cities, allowing people to blend in with nature.
- Cultural hub: The gorgeous nature and culture scene in Pai draws artists and musicians worldwide, making it an ideal place for creative minds.
- Adventure awaits: Outdoor enthusiasts can enjoy activities like whitewater rafting, tubing, ziplining, and hiking in the picturesque mountains and waterfalls nearby.
7. Pattaya
Pattaya is a city on the eastern coast of the Gulf of Thailand, combining relaxing beaches and a vibrant lifestyle. Pattaya, one of Thailand’s biggest cities, welcomes many tourists who want to enjoy the good weather, beautiful beaches, and lively nightlife. Once a small fishing villa, Pattaya has transformed into a favored global destination with a population of around 104,300 people.
Reasons to buy property in Pattaya
- Tourism hub: Pattaya is a major tourist hub. Owning property in Pattaya can provide rental income opportunities, especially during the high-peak tourism seasons.
- Economic growth: The city is part of the Bangkok-Rayong Economic Corridor, experiencing steady economic growth. This can lead to potential appreciation in property values.
- Retirement destination: Many retirees choose Pattaya for its affordability, pleasant climate, and numerous amenities.
Property prices in Pattaya
Here is an overview of the average property prices in Pattaya, categorized by property type:
| Type | Average price | Average price/m2 | Annual growth | Average rent price |
|---|---|---|---|---|
| Condo | ฿ 3.77 million ($105,698) | ฿ 70,628 ($1,978) | + 4.5% | ฿ 22,564 ($632) |
| House | ฿ 9.32 million ($260,984) | ฿ 37,343 ($1,046) | – 3.5% | ฿ 49,243 ($1,379) |
| Land | ฿ 17.16 million ($480,383) | ฿ 22,424 ($628) | + 19% | – |
8. Udon Thani
Udon Thani, located in northeastern Thailand, is well-known for its fascinating archaeological sites. The Ban Chiang Museum Site is a standout example of the world’s oldest Bronze Age civilization, with many artifacts from more than 4,000 years ago.
Geographically, the Udon Thani province is on a plateau around 187 meters above sea level. It’s characterized by lush rice fields, dense forests, and rolling hills, with the Phu Pan mountain range and the Songkhram River as its primary natural attractions.
Reasons to buy property in Udon Thani
- Vibrant city life: Udon Thani city itself offers a range of attractions, including lively local markets, serene parks, and beautiful temples.
- Cost-effective living: The city provides budget-friendly living, from housing options to daily expenses, which means you can enjoy a comfortable lifestyle without putting excessive strain on your finances.
- Clean air and friendly community: Smaller towns in Udon Thani may lack some of the entertainment options of larger cities, but they offer cleaner air and a warm, friendly community. Udon Thani can provide that sense of community and tranquility if you desire a peaceful life and a welcoming atmosphere.
Property prices in Udon Thani
Below is an overview of the average property prices in Udon Thani, categorized by property type:
| Type | Average price | Average price/m2 | Annual growth | Average rent price |
|---|---|---|---|---|
| Condo | ฿ 1.68 million ($47,034) | ฿ 58,020 ($1,625) | 0 % | ฿ 10,512 ($294) |
| House | ฿ 4.09 million ($114,648) | ฿ 20,291 ($568) | + 10.5% | ฿ 18,814 ($527) |
| Land | ฿ 5.24 million ($146,650) | ฿ 3,284 ($91.95) | + 51% | ฿ 18,442 ($516) |
9. Koh Phangan
Koh Phangan is an island in Thailand well-known for its famous Full Moon Party, a massive draw for party enthusiasts. However, the island also boasts some incredibly peaceful, natural spots for those looking to relax.
Koh Phangan is a destination that offers more than just a party. It’s also a perfect location for families and people who want to live there, as the island is beautiful and environment-friendly. Because of that, Koh Phangan can be the ideal place for real estate investment, showing impressive growth in the property market.
Reasons to buy property in Koh Phangan
- Healthy lifestyle options: Koh Phangan has evolved beyond its party reputation, offering a well-rounded lifestyle. There are a lot of health enthusiasts with healing centers, yoga studios, meditation retreats, vegan restaurants, and gyms. This variety allows people to maintain a balanced and healthy lifestyle.
- Safety: Koh Phangan is generally considered a safe place to live and visit, with a low crime rate. The island’s safety is key for those considering property investment or permanent residence.
- Natural beauty: Koh Phangan is a haven for nature lovers. Untouched jungles, waterfalls, hiking trails, and stunning beaches provide endless outdoor exploration and adventure opportunities.
- Cultural blend: The island’s unique blend of Thai culture and international influences creates a captivating cultural environment. People can immerse themselves in Thai traditions while enjoying the company of people from various backgrounds.
10. Krabi
Krabi is known for its stunning natural beauty, characterized by picturesque beaches, towering limestone cliffs, and remarkable coral reefs. Located at the meeting point of the Krabi River and the Andaman Sea, this city serves as a central hub for fishing and exploring the nearby islands.
Krabi has many attractions, such as hot springs, animals at wildlife places, rock climbing, and diving. Krabi’s national parks, including the renowned Koh Phi Phi and Koh Lanta, create an island paradise for visitors.
Reasons to buy property in Krabi
- Rental income potential: With many tourist attractions in Krabi, there is a lot of rental income potential through property investment. One can start property rentals in Krabi to generate a good income.
- Relatively low cost: Property in Krabi is more affordable than real estate in major cities in Europe and other regions. You can find modern housing complexes with amenities at a reasonable cost, making it an attractive investment.
- Calm lifestyle: Krabi offers a peaceful, resort-like lifestyle with a tropical climate, sandy beaches, and a rich natural landscape. This atmosphere will be perfect for those who prefer a quiet environment and families with children.
Property prices in Krabi
Here are the average property prices in Krabi, categorized by property type:
| Type | Average price | Average price/m2 | Annual growth | Average rent price |
|---|---|---|---|---|
| Condo | ฿ 3.8 million ($106,324) | ฿ 73,101 ($2,047) | + 2.7% | – |
| House | ฿ 7.09 million ($198,455) | ฿ 35,198 ($986) | + 4% | ฿ 27,057 ($758) |
| Land | ฿ 9.26 million ($259,163) | ฿ 7,088 ($198) | + 44% | – |
Buy property in Thailand with Own Property Abroad
Do you want to buy property in Thailand? Own Property Abroad can assist you and ensure a seamless and hassle-free property journey. Thanks to our extensive knowledge and local experience in the Thai real estate market, we can help with legal requirements, finding suitable properties, negotiating the best deals, and conducting due diligence.
With our expert team, you won’t have to navigate the complexities of the Thai market alone. For further information on how we can assist you, kindly drop your details below or email us at [email protected]. Let’s start working on your property success story today!
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Frequently Asked Questions (FAQs)
Is Thailand a good place to invest in property?
Thailand is considered to be a good place for property investments. Thailand’s economy has been getting more vital for a long time, making it an excellent place to invest in property.
Can I rent out my property in Thailand to generate income?
Yes, renting out your property in Thailand can be a viable income source, especially in a tourist-friendly location. You can rent it out to long-term or short-term tenants and tourists, but you should be aware of any legal requirements or restrictions that apply to rental properties.
What should I consider when choosing a location in Thailand to buy a property?
Consider your lifestyle preferences, investment goals, and desired living environment. Different regions in Thailand offer various attractions, from bustling city life to a laid-back and calm atmosphere.
