Are Bangkok Condos an Ideal Investment?
Bangkok condos are popular with foreigners partly because Thai law prohibits foreigners from buying land. In addition, Bangkok condos provide a combination of modern luxury and traditional touch. Whether you want to rent or buy a condo, there are many options to suit various taste and budgets.
How to Buy or Rent Bangkok Condos
Condos are individual units owned by a private party, unlike apartments which is a block made up of several individual rental units owned by one person or company. Bangkok condos are available for rent and purchase. Condos are relatively affordable, secure and cheap to maintain. To become a member of the condo community you have to consult property agents who know the dealings of Bangkok real estate. This is the easiest way a foreigner can buy or lease due to the language barrier. A prospective buyer who is not already in Bangkok can search over the internet for a condo listing. The online listing provides relevant and vital information on the condition, location and rates of a condo you are interested in buying or renting.
Prospective clients have an option of buying a modern or an old Bangkok condo. The older condos have much more space as compared to modern ones. Most clients prefer modern condos with bigger spaces. The difference in size of the modern and old Bangkok condos is quite significant. The space offered by an old condo is enough to accommodate two modern condos. It is possible to get a modern condo with big space, but one has to sacrifice some of the trappings that come with modern condos. This is possible by acquiring an old condo that has been renovated to include modern features and the extra space. However, even when renovated, they are not built with the same touch as the modern condos.
Differences between Bangkok Condos and Apartments
There are some differences when renting a Bangkok condo and an apartment. The prices are pretty much the same; they are determined by location, size of the unit, age, furnishers and décors. The difference is mainly on utility bills. In apartments utility bills are often marked up while in condos your bills are set by the standard government price.
For Bangkok condos, you have to pay building management fees unlike in an apartment where this fee is included in the rental fee. The fee covers repairs, maintenance of the buildings and facilities. Additionally, the fee for exclusive condos is high. The terms of renting apartments and condos may differ but they depend on the degree of understanding between the landlord and the tenant.
Unlike apartments, the rent of condos is dependent on the negotiation skills of the tenant. As for the apartment the rental prices are more or less fixed. The cost of maintenance for is entirely on the shoulders of the tenant while that of apartment may be done by the landlord depending on the arrangement. Unfortunately, the lower the rent of a condo the higher the maintenance fee you may have to pay. Consult your real estate agent in Bangkok today!