If you are looking to live in Bangkok long-term, renting a condo is an ideal solution. Condos in the city are suitable for both large and single families, therefore, for anyone looking to reside in Bangkok for any length of time, it remains the number one housing solution. The maintenance fee is usually the owner’s responsibility but always check the contract first. Rent, electricity, and water bills are the main utility bills that need to be paid monthly. If you add internet and cable, expect an additional bill in the post every month.
The most popular condo for rent in the heart of Bangkok would be Millennium Residence. You may browse more about the available rooms at Millennium for Rent.
Now, let’s get to the details on what you should expect when you are renting a condo in Bangkok.
The Midwest Energy Association (MEA) will not wait long before cutting the electricity to your condo when it’s due, therefore, it’s advisable to pay your bill promptly. The bill will arrive monthly in your mailbox. Electricity unit price differs between condos and apartments. For condos, the unit price is a government rate and it’s the cheapest possible rate. After your rent, electricity is your main bill.
CTH and True are the main cable TV providers in Bangkok. With a wide variety of packages on offer, the CTH now has rights to show the British Premier League football.
Pay your rent promptly every month because a good relationship with the owner is important. Should you wish to renew your contract, this good relationship can work in your favor. To pay your rent you will require the owner’s account details which are found in the contract. For a foreigner, you will be required to hold a Thai bank account and card to pay rent via ATM transfer. There will be a small charge if you are transferring cash between banks. You may need to do more than one transaction as many banks always put a limit on the amount you can transfer depending on how much your rent is. Set up international or domestic internet banking as an easier payment option.
With a vast variety of providers out there, it’s not advisable to take advantage of this fact because some condos only allow certain internet providers. The prices change constantly but they are pretty similar to True charges. These bills can be paid at banks, main branches, ATMs, and 7/11.
You will pay for your water bill at the condo juristic office. If you live in a one-bed condo in Thailand, the bill will usually be under 100 Baht per month as water is pretty cheap.
Buying a condo in Bangkok
Many potential buyers are a bit skeptical about buying condos in Bangkok because of potential pitfalls when it comes to future outlook and complications, paperwork, and valuation.
What should one consider before buying a condo in Bangkok:
Location and size are the major variants when it comes to the cost of a Thai condo. The rental potential and value of a property are determined in comparison to the size of the condo in meters squared. Prices do vary a lot outside Bangkok.
There are plenty of locations around the Thai nation where you can find your dream place. There are a few key areas where most ex-pats buy but pretty much every town and city will have condos. If you are looking to find premium developments, Bangkok is the condo center of Thailand and it has several hot spots. The Bangkok Subway (MRT) and Bangkok Skytrain (BTS) have enabled one to find a condo development near every single station on the line as they attract developers.
The many new developments being built may make one think that the market would stagnate but that hasn’t happened. For luxury condos, the prices are still increasing every year. If you are planning to buy and live in Thailand, the growth in prices and demand of condos effect might be less evident, but if you are planning to buy to let then it might affect you.