House and condominium unit prices in Bangkok, Thailand, have steadily been risen in the past two quarters due to the higher cost of lands, labors, and construction materials, reported Thai PBS World.
According to Wichai Wiratkaphan, acting director of the Real Estate Information Centre of the Government Housing Bank, the prices of single houses in Bangkok, Nonthaburi, Pathum Thani and Samut Prakan for the second quarter have increased significantly, with a price index of 129.1, up 2.5 over the index of the same period last year.
As for new condominium units, the price index for the second quarter is equivalent to 155.1, up 2.2 year-on-year, up 0.3% from the first quarter, and there is a tendency that the index will continue to increase.
On the other hand, the prices of new condominium units in Bangkok’s neighboring provinces like Nonthaburi, Pathum Thani and Samut Prakan is equivalent to 141.1, down 1.6 year-on-year, down 0.3 from the first quarter.
Any Scandinavians who are planning to rent out a house or a condo unit in Bangkok or nearby provinces for personal use could find this information helpful.
Though, when offered short term rentals less than 30 days, you may be legally subject to the Hotel Act instead.
If you are looking for a place to rent out for business-related purposes, please note, there are some requirements under the Foreign Business Act and Foreign Employment Act that must be complied with.