Despite the political stalemate, Bangkok is still one of the top tourist destinations in Asia, offering a wide range of attractions and is a regional force in finance and business. Standards of living have improved significantly over time and that is why many expats choose to live and work here, the majority of whom prefer to live condos.
Although there have been many strains on the Thai economy of late, with the government employing populist policies and draining the country’s reserves, Bangkok still has a strong economy and investors are confident that it will remain strong. There are a multitude of Bangkok condo units available to rent or buy, but whatever you choose will of course depend on your budget, lifestyle and tastes.
The most sought-after condo units are located near to the Skytrain stations. Most are safe to live in and are backed up by security guards and entry systems. If you are looking for a luxury unit you will then enjoy a parking area, fitness facilities, a laundry room, Jacuzzi, saunas, pool and a library.
The number of Bangkok condos has been increasing rapidly and are very popular among foreigners because it is legal for a foreign national to purchase a unit. So when considering investing in a condominium you should be aware that you have joint ownership of the building complex.
When making a decision as to where to buy or rent a condo, if the unit is not located near a Skytrain or public transport you can expect heavy delays in commuting into to the city centre or to the nearest station. The two main transport lines are the Skytrain (BTS) and the Subway (MRT). Some condominiums have a free Tuk-Tuk shuttle service or you can get on a motorbike taxi for as little as 10 baht to take you to your destination.
As the mass transport systems expand, some people have opted to live further away from the centre as it is quieter and the suburbs do offer a sense of community. Several new Skytrain stations in Bangkok’s suburbs has meant that a whole host of new condos have sprung up close to these stations. It is possible to find a modern condo in the suburbs for half the price than you would pay for the same condo in the heart of the city.
Condos in the suburbs areas have potential for the future because of their easy access to mass transport and, although prices are relatively low, developers are conscious about the grades of their condominiums because overall demand is not that high as of yet. However, as Bangkok’s condos have a competitive advantage over their Asia-Pacific counterparts, the year ahead is looking good for the market.