Bangkok Condo Guide
Buy a Condo in Bangkok
CBRE has a dedicated sales team specializing in Bangkok condos for sale. We have been managing, selling, and buying Bangkok condos for over 35 years consequently our experience is unparalleled. Our condo sales team is the market leader, currently marketing over 20 leading new Bangkok condo projects.
In addition to these projects, we have a selection of over 4,500 Bangkok condominiums in our condo listing database (view Bangkok Condo Listings); thus we are able to provide you with the widest choice from a range of luxury Bangkok condominiums.
Bangkok Condominium: Thai Definition
A condominium or condo – also known in some countries as an apartment or flat - is a building where individuals have freehold strata title of their own residential unit and where the common areas such as lifts, swimming pools and gyms are jointly owned by all the co-owners. In Thailand, foreigners are allowed to own up to 49% of the total area of a condo building.
Bangkok Condo Areas & Locations
Our condo sales team have intimate knowledge in the condominium market in the following Bangkok locations.
- Silom/Sathon: The area incorporating Silom, Sathorn, Surawong, and Narathiwas-Ratchanakarin (north of Chan Road) Roads, as well as the sois in between.
- Central Lumpini: The area incorporating Wireless, Ploenchit, Rajadamri, Chidlom, Langsuan, Sarasin and Ruamrudee Roads, and other sois in between.
- Sukhumvit: The area incorporating Sukhumvit Road from Sois 1-65 and Sois 2-44, as well as other sois in between. This area in Bangkok has many new luxury condos for sale.
- Pathumwan: The area incorporating Ratchaprarop, Phayathai, Sri Ayutthaya and Petchaburi (from Soi 1-37) Roads, as well as other sois in between.
- Rama 3: The area incorporating Narathiwas-Ratchanakarin Roads (south of Chan Road), Charoenkrung and Rama III on the side not adjacent to the river, as well as interlinking sois.
- Riverside: The riverside area includes developments on the riverside incorporating Charoenkrung, Charoennakorn and Rama 3.
- Peripheral Areas: Peripheral areas of the city cover all other areas of Bangkok lying outside the Central Business District (CBD), including Ratchadapisek, Ladphrao, Ramkhamhaeng, Paholyothin, Thonburi and Sukhumvit Road from Sois 44-76 and 65-115.
Typical Condominium Purchase Opportunities
There are essentially 3 choices to make when buying a condo in Bangkok:
1. Condominiums in New Projects
CBRE specializes in marketing and selling off plan “New build” projects. We currently have over 10 projects on our books comprising some 4,000 units. Benefits of buying a condo in a new project can include:
- A new property
- Latest built-in facilities (gyms, pools, etc.)
- Usually built in the most convenient locations (access to public transport)
- Capital growth for an initial small outlay
2. Resale Bangkok Condos
CBRE has an extensive database of condominiums available for resale. The benefits of a resale condo purchase are that it avoids the risks of an off-plan sale.
- No risk of developer delays or failure
- Ready for immediate occupancy
- The chance to inspect the actual unit, views, and fittings
- The opportunities to seek, in some instances, bargains
3. Buying a Bangkok Condo as an Investment
Buying a condo in Bangkok for investment can offer an attractive investment opportunity with initial capital growth and later a rental income.
In our new Bangkok condo projects portfolios investors buy condos “off-plan” (i.e. before and during construction) paying in stage payments. Thus buyers invariably get the best prices (developers generally increase prices during construction), they also manage their cash flow as deposits and stage payments are between 10 and 30% of the total price.
- No risk of developer delays or failure
- Ready for immediate occupancy
- The chance to inspect the actual unit, views, and fittings
- The opportunities to seek, in some instances, bargains
Buy to Let - There is a large and continuously growing expatriate population looking to rent condominiums, providing owners with solid rental returns. Speak to us about areas and property types to achieve the highest returns.
In summary, early buyers usually secure a rise in value for a small capital outlay. Of note is that generally, in Bangkok, real estate developers do not restrict condominium buyers from assigning their contracts at any stage.
Bangkok Condo Research
We conduct research on the latest conditions prevalent in the Bangkok Condo market, including supply, demand, and current property requirements of condo buyers.
With our network of offices, CBRE has unparalleled access to resources in Bangkok, these enable us to identify trends that assist our customers in buying a Bangkok condo.
For full access to the latest Bangkok condo research or to access the Bangkok Property Report.
Legal Ownership of a Bangkok Condo
- Freehold: The majority of condominiums in Bangkok are freehold. Foreigners can own up to 49% of the total area of a condominium on a freehold basis.
- Leasehold: Some developments in Bangkok are built on leasehold land with leases of 30 years and options to renew. Leasehold ownership is also offered in condos where the foreign quota for freehold title has been reached.
Condominium Funding / Financing
Financing: Financing for foreigners to purchase real estate in Thailand is complex and changes regularly. At the time of writing, it is difficult to source mortgages for foreigners, however, we recommend that you check with your bank to get the latest details.
Money Transfer: Under the 1991 Condominium Act, non-residents who purchase condominium units must transfer the funds to pay for the unit from overseas, with the money entering Thailand as foreign currency. Purchasers need to obtain a “Foreign Exchange Transaction Form” certificate for each payment from the beneficiary bank, and all these certificates must be shown to the Land Department in order to register the condominium. (Condo Funding Procedures)
Bangkok Condo Sales Taxes
Individuals who invest in property in Thailand should be aware of the tax liabilities that may arise on either buying or selling the property. The table provided by Mazars, (one of Thailand’s leading international accounting, audit and tax advisory firms) is a sample calculation.
Sample: Tax Calculation Assuming a 10 million baht sales price and assessed value of 10 million baht.
* Depending on the wording in the contract, this fee is often split between the buyer and seller
Bangkok Condo - Transaction Costs
Transfer fee:
There is normally a 2% transfer fee for new condos which is either paid by the vendor, the buyer, or is split between both parties, depending on the purchase agreement. For resale properties there may well be a fee for the transfer of the registration.
Sinking fund:
In a new condominium project, the buyer pays a one-off lump sum on transfer of the property from the developer to the purchaser. This money is to be used for major renovations and replacement of equipment when necessary. The aim of this fund is to ensure the maintenance of the building and ultimately its future value.
Legal fees:
Each party pays its own legal fees and there is no norm as the purchase can depend on many different complexities.
Common area management fee/utilities:
These fees are paid by owners for the upkeep of the common areas of condominiums and housing estates. For new residential developments, it is common to pay up to several years’ management fees in advance. Utilities are generally paid on an “as used” basis.
Bangkok Condo: General Industry Classifications
We classify Bangkok condo units for sale into six categories based on price/m2. Classifications are based on the maximum number of condos in a project that fall into a category.
| Super Luxury | Above THB 350,000/m² | Up Scale | THB 100,000-149,999/m² |
| Luxury | THB 250,000-349,999/m² | Mid-Range | THB 70,000-99,999/m² |
| High End | THB 150,000-249,999/m² | Entry-Level | Below THB 69,999/m² |
Condominiums for sale that are high-end or above generally demonstrate common characteristics such as:
- Easily accessible locations
- Good and secure neighborhoods, ensuring privacy of residents
- Good building design, layout and decoration
- Good standard of construction using high-quality materials and specifications
- Comprehensive range of facilities, including swimming pool, gym, squash, tennis courts.
- Adequate elevators and efficient M&E system
- Professional management
- Sufficient car parking
