Renting vs Buying a Condo in Thailand

The case for renting

• You do not yet know which area suits you. Almost nobody does in their first year.
• Your capital stays liquid, which matters more as you get older.
• If your health, your family situation or the visa rules change, you can move in a month.
• Rental yields in much of Thailand are low relative to prices, which means renting is often good value.
• Maintenance, repairs and a failing air conditioner are somebody else's problem.

The case for buying

• You know exactly where you want to be and have lived there for a year or more.
• You want to fit out a home properly rather than live with someone else's furniture.
• You have capital you genuinely do not need access to.
• You are comfortable that resale could take a long time.

How foreign ownership works, in principle

Foreigners generally cannot own land in Thailand, but can own condominium units outright within limits — a building has a proportion of its area that may be foreign-owned, and units within that quota are the ones available to you. There are also requirements about funds being transferred from abroad and documented correctly.

Questions to ask before any purchase

1. Is this specific unit within the building's foreign quota, and can that be evidenced?
2. What are the monthly common area fees, and when were they last increased?
3. Is there a sinking fund, what is in it, and what major works are planned?
4. How many units in this building are currently for sale, and how long has the average one been listed?
5. Who manages the building, and what do current residents say about them?
6. How must the purchase funds be transferred and documented?
7. What would this cost me to sell, and how long might that take?