The process of deciding whether buying or renting a condo in Bangkok is the right thing to do is a difficult one for many expats in Thailand. It can be especially hard for expats in waiting, i.e. those still planning their escape to warmer climes. If you’re not yet here, how do you know whether renting or buying a condo in Bangkok is the right thing for you to do? Read on for the answer!

Understanding the Bangkok Condo Market

Before you can make an informed decision as to whether you should rent or buy a condo in Bangkok, you will need more information about the Bangkok condo market. You need to understand how it works and what the future may have in store. The information to focus on acquiring includes the latest sales figures for the hottest property spots in Bangkok and details of the newest luxury condo developments across the city. There are two main ways in which this information can most easily be acquired:

• Doing Your Own Research – Spend a few weeks trawling online listings for people looking to rent or buy a condo in Bangkok, looking for trends in prices and availability by district. Having identified several attractive areas to focus on, fly over and spend a few days viewing the most promising condos in each district.
• Consulting an Expert – If you’re short on time or prefer not to do the legwork, consult a local real estate professional. An industry veteran with years of experience in the Bangkok condo market will be ideally placed to provide you with expert guidance.

The best information-gathering option for you will depend on your circumstances and priorities. For those in no rush, with plenty of free time, a leisurely property search while staying in a nice hotel could be a thoroughly enjoyable proposition. For those with busier schedules, finding a trustworthy Bangkok real estate specialist may be the preferred option.

The Benefits of Renting a Condo in Bangkok

When weighing up the pros and cons of renting a condo in Bangkok, don’t forget the following key advantages:

• Ability to Move at Short Notice – With rental contracts typically from 6 months to a year, it’s easy to move at short notice.
• Low Initial Costs – When renting a condo in Bangkok, there’s no need to spend a large chunk of capital securing your new home from home.
• No Maintenance Costs – Maintenance and repair costs are footed by the landlord unless they relate directly to damage caused by the tenant of a rental unit.

These are the key advantages of renting vs. buying a Bangkok condo. How important they are to you and how heavily they influence your decision will depend on your plans and priorities.

Why Buying a Condo in Bangkok Could Be a Smart Investment

With rising property prices in prime locations across Bangkok, buying a condo in Thailand’s capital could be a lucrative investment, especially if you have identified the most promising areas already. However, determining whether buying a condo in Bangkok is a smart investment for you personally will require an objective assessment of your current financial status, plans for the future and priorities. Only once this assessment has been completed can you make the right choice.

Renting vs. Buying Bangkok Condo: Key Factors to Consider

When deciding whether to rent or buy a condo in Bangkok, the most important factors to consider are:

• Your Financial Resources – How much you are willing and able to spend on your new home in Thailand is a crucial factor to consider when deciding whether to rent or buy a condo in Bangkok.
• Your Future Plans – If you plan to stay in the city for several years, buying a condo in Bangkok could be the right choice.
• Current Market Trends – If current price trends suggest future profit potential, buying a condo may be the most sensible option.
• Your Risk Appetite – If you prefer to avoid capital risk, the condos for rent in Bangkok, Thailand, will probably appeal more. Alternatively, if you’re happy to take a risk for the right reward, buying is more likely to appeal.

To make your decision a little easier, we invite you to explore the available properties at Citadel before you leave and contact us for personal assistance if required. As Thailand’s best real estate agency, we can help you find the perfect home-from-home in Bangkok. Our multilingual team is ready to help you explore the local property market whenever you want to get started.