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Isn’t Bangkok now a renter’s market?


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By Michael Bridge


With the ending of the pandemic, the global nomads are now thinking of moving their base from one city to another.


Bangkok has always attracted expats from all over the world and now could be the time to rent a condominium, with prices low and a weak Thai Baht as well.


However, budgeting and organizing your own relocation is not that simple.


According to a survey by CNBC the top ten most expensive cities in order were Ashgabat in Turkmenistan number one followed by Hong Kong, Beirut, Tokyo, Zurich Shanghai, Singapore, Geneva, Beijing, and Bern at number 10.


You could have a cheaper lifestyle in other Asian cities.


For example, the cost-of-living comparison between Ho Chi Minh City and Bangkok would mean you would need just THB82,903 to maintain the same standard of life that you can have with THB110,000.00 in Bangkok.


However, according to google, Bangkok is 51% cheaper than Singapore.


So, trying to estimate the exact “costs of living” in a foreign city can be a bit hit and miss and is a very confusing affair.


Since accommodation costs, will inevitably make up a substantial chunk of an individual’s monthly expenses, expats relocating to Bangkok are often faced with the challenge of estimating local rental rates.


BTS and MRT have made a difference


Whereas in the 90’s most expats tended to live near the city centre, with the latest BTS and MRT extensions, you can now commute from quite a way out.


Considering the fast size of Bangkok and the hundreds of different neighborhoods you now have a much larger choice.


On top of this, variables such as the renter’s own requirements and general expectations can cause rental rates to vary greatly.

 

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Bangkok’s Condos are generally offered in standard layouts notably studios (20-30m2) one Bed (30-40m2) and two Beds (45-75 m2).


Developers build new high rise with smaller sizes, so if you are not too fussy renting in an older building is likely to give you a lot more space for your buck!


Putting in your requirements online to include condominium size, the number of bedrooms, area, and of course, the maximum rental is simple.


However, knowing what a typical neighborhood offers needs a bit of research online.


Most rental prices in the capital are mostly dictated by their location and their general proximity to Bangkok’s business and leisure hotspots.


Therefore, the closer you are to central Bangkok the more expensive!


Most landlords would prefer twelve months rental contracts, so most prices would assume the tenant can guarantee a lease of a minimum of one Year.


With prices ranging from THB 6,000 for a ridiculously small studio to THB30,000 + for one bedroomed condominium in a good location, you need to do a lot of research. 


Location, Location, Location


Rental prices in the capital are mostly dictated by their location and their general proximity to Bangkok’s business and leisure hotspots.


The closer you are to central Bangkok the more expensive!


Sukhumvit is an expansive area with a diverse choice of lifestyle and rental options, making it an ideal rental location for some with a higher budget. 


Trying to find a good condominium here for THB10,000 may be a struggle.


When the BTS opened a station at On Nut, many moved there to save money, whereas now most of the available best options are located further away on the new lines on the BTS/MRT routes.


At the end of the day if you must live in Bangkok but don’t enjoy the city centre pollution moving to the end of the line could be the answer.


However, let’s face it is still a renter’s market with a lot of empty condominiums to select from, so perhaps now is the time to move.

 

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I read only recently that Sydney was the second least affordable city in the world for accommodation.

I suppose it’s like airline ratings depends on who carries out the survey.

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2 hours ago, The Hammer2021 said:

Who wants to live on the bottom of the budget ladder?

These kind of surveys bear no resemblance  to reality.

Pattaya  rentals  are very cheap now. 6k a month for places that were 10k to 15k pre covid even around leafy Pratumnak  near a beach

BTW Are nomads considered an asset or just bums with lap tops who can't afford  their own Internet connection?

Prices are rising , I had place during Covid 8 , 000 a month 20 th floor now paying 14,000 so prices are adjusting 

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3 hours ago, The Hammer2021 said:

Who wants to live on the bottom of the budget ladder?

Maybe those who are younger, not having a house back home to sell and retire?

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Posted (edited)
35 minutes ago, San Fran Dan said:

Prices are rising , I had place during Covid 8 , 000 a month 20 th floor now paying 14,000 so prices are adjusting 

Individual  examples  might not represent  a trend. But are you saying you accepted an 8k increase! Pratumnak Soi 4 and 5 near the park and beach 6k reduced from 15k - not tiny studio flats

Edited by The Hammer2021
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1 minute ago, hotchilli said:

Maybe those who are younger, not having a house back home to sell and retire?

The poor you mean?  But being broke  in Bangkok  is not better than being broke and unemployed at home with no medical support

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1 hour ago, OneMoreFarang said:

What research is that?

Nobody who rents a 6000B unit will be interested in 30k unit and the other way around.

Another bla bla article. 

The point is units that are/were 15k/25k can now be gotten for 6k/10k. I had  25k unit reduced to 15k. In Pattaya.

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23 minutes ago, The Hammer2021 said:

The poor you mean?  But being broke  in Bangkok  is not better than being broke and unemployed at home with no medical support

Not poor... just a younger generation and still making their way in life.

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Yip, numbeo gives broad strokes on overall costs...but anyone can add cost figures so just broad strokes for comparisons.....

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We've just finished renovating our 3 bed rental apt. 

It's above an international school and is 50/50% split between private and serviced apts.

 

My wife spoke to the maintenance guy this morning and he was telling her that they've started
renovating their serviced apartments as they're expecting a large  increase in demand as the country opens it's borders. 

 

They're increasing their serviced apartment costs by 10% - and this is a popular condo in the heart of Bangkok so they obv' expect to rent them.

 

 

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Posted (edited)

30,000 b for a nice place close to BTS and amenities is less then $1,000

a month.  May seem high for some, but for a major city it is not expensive. Just saying,  could easily be $3,000 a month in some western cities with other expenses much higher.

Add, Singapore and Hong Kong are double or triple that for less standard.

I live in Pattaya, but have always liked Bangkok would have no issue living there. No car or motorbike needed.

Edited by bkk6060
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"According to a survey by CNBC the top ten most expensive cities in order were Ashgabat in Turkmenistan number one followed by"....

 

wow that will really spoil my retirement plans.......

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These surveys are as meaninful for most people as information about average salary in Thailand. They represent comparable reality in a specific niche of the market (typically in the big company expat family with company full benefit package). Equally relevant for many countries, not only Bangkok/Thailand. Recall seeing these already 20yrs ago when living in China - we had staff in very different housings with most expensive being more than 10x the cheapest. In undeveloped places western quality premium housing tends to be very expensive, whereas housing for local relevance is many times very cheap, actually with very large price spectrum even within those. Bangkok is pretty similar to Beijing and Shanghai, with very large spread between different types of housing Average does not have much meaning.

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Rangsit you can rent a garden home for 6-7k a month.  The lower prices are avail but jus t like any big city  you need to move away from the city center.

 

Who the hell can afford a 40,000 baht apartment?

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34 minutes ago, kingstonkid said:

Rangsit you can rent a garden home for 6-7k a month.  The lower prices are avail but jus t like any big city  you need to move away from the city center.

 

Who the hell can afford a 40,000 baht apartment?

People who paid 100,000 / month back home in falang-land

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Thailand isn't as cheap as people think it is.  However, you can still find nice accommodations for a very reasonable price <20K / month in the middle of the city if you want.  But once you start craving those missing pieces of your falang-life that you haven't had for 3, 4, 5, 6 years, it starts to add up quickly.  

 

 

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Posted (edited)

Good website to see how this reports lines up.  Those of you living in other cities around the world can compare and share.

 

Not sure how accurate is the data, I am sure there are some percentage error in some of the prices.

 

Cost of Living (numbeo.com)

 

 

Edited by node
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6 hours ago, timendres said:

If your mia noi is willing to stay in a 6,000 THB apartment, you're not living right.

You got it wrong. In order to keep the Mia noi in a 30k place he has to stay at a 6k place!!

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Renting in Bangkok would be infinitely preferable to owning, not that I would ever want to live there. The earth is warming, icecaps are melting, seas are rising. Bangkok is one metre above sea level, there's not much wiggle room.

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3 minutes ago, Lacessit said:

Renting in Bangkok would be infinitely preferable to owning, not that I would ever want to live there. The earth is warming, icecaps are melting, seas are rising. Bangkok is one metre above sea level, there's not much wiggle room.

Take advantage. Rent your condo at a cheaper rate without the need for a swimming pool. Besides, I can tell you Venice has its charms, too. And who would not want to own his own boat - someday ?

 

Joke aside - no idea why anybody would buy an expensive estate there. And then they ARE expensive. Some irrational hope that it wont happen anyway ?

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2 hours ago, spidermike007 said:

Although you went the other extreme. Not sure about a valid reason for not giving a gal a fair price for her body and some TLC. Fair is fair. 

He didn't.  It was offered, not requested.

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8 hours ago, OneMoreFarang said:

Nobody who rents a 6000B unit will be interested in 30k unit and the other way around.

When I want to show my Hi-So girlfriend......

When I want women to think I'm dead broke, super loser backpacker, please give me discount!!!  

 

oh wait, I see expats living in 2500 baht fan rooms.      but alone, I digress.

 

my 30k apartment is actually one of 100 I own.  Oh, wait, I own the entire building and every room there is one of my gfs.    yes, they are free to leave......but I'm super rich and hansom mak mack mack mak

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I've lived in Bangkok for over 20 years, and I can assure everyone of 3 things.

 

The first, rents here have hardly altered either way, though I did manage a 5% reduction on my apartment (that's not typical). The second, you don't get a good meal for 200-300 baht anymore, unless  Macdonald's is your idea of a good meal. Thirdly, the woman in Pattaya offering herself for 200 baht! Mmm, she was either as rough as sandpaper, or she was a scammer looking for a free meal. The going rate for working girls in circa 2017 was 1,000 to 1,500 baht. 

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