If you are into property investment in Thailand then the stats released by CBRE Thailand would make for interesting reading as well as the property transfer cost and other issue in the Thai property market which you might now know. CBRE is one of the largest property management companies in the world today and their latest stats on Thailand makes for a good read.
Bangkok Property Stats
As you can see from the stats from late 2012 the occupancy rates in Thailand has held well at the 77% mark in the rental market. We also note with interest that the year to year climb has been at around the 5% mark and that the property prices and property lease rates have been very stable. Even the forward outlook on the property market is at the 146,000THB/SqM range which is only 2,000THB lower than the current rates. Property investment in Thailand has always been good and even during the European financial crisis the property market in Thailand was stable. The current high rental income and property prices in currently in Bangkok in the Lumpini area of Bangkok which tops out at 160,000THB/SqM.
Property in Thailand tends to be classified into 6 groups. The table below gives you an idea as to who the property market is viewed in Thailand and also the explanation below the table of what is considered when property is valued for resale.
|Super Luxury||Above THB 180,000/m²||Upper-mid-range||THB 80,000-THB 99,999/m²|
|Luxury||THB 130,000-179,999/m²||Mid-range||THB 60,000-79,000/m²|
|High End||THB 100,000-129,999/m²||Entry-level||Below THB 60,000/m²|
Condo units in the high end of the property spectrum in Thailand tend to have the following characteristics.
- – Easily accessible locations (Close to the BTS/MRT)
- – Good and secure neighborhoods (Upper market areas in Bangkok/Phuket or Pattaya)
- – Good building design, layout and decoration (Mainly tend to be newer buildings)
- – Good standard of construction using high-quality materials (Newer builds close together)
- – Comprehensive range of facilities (Has a gym, pool and other amenities)
- – Adequate elevators and efficient M&E system
- – Professional management (Mainly by foreign owned companies)
- – Sufficient car parking (Big plus in Bangkok)
Bangkok Condo Sales Taxes
We have already covered the issue of taxes and transfer taxes on this website. What we are showing below is the sales tax on the property based on the years that the property was owned before it was sold.
The table sums up by example very well as to how the taxes are calculated in Thailand. Note that the above example is for a 10million THB condo with an assessed value and sale value. These are the taxes that would be payable.
If you are looking at buying a condo unit or renting then speak to us online or in person for more information.