Why Is Property In Thailand So Cheap To Rent? Does It Mean Low Quality Living?
Have you ever wondered why property in Thailand is so cheap? Are you concerned that the low price means a low quality of life? If so, give this article a read and we’ll set the story straight; we’re going to focus on why property in Thailand is cheap and whether or not it’s worth investing in…
Why is property in Thailand so cheap?
So, why is property in Thailand so cheap? This is due to a number of factors, namely:
- Cheap labour
- An Abundance of natural resources
- Strong agricultural industry
However, the real question should be: why is everywhere else so darn expensive? A cheap condo in London, England, would be around £300,000. A luxury condo in Bangkok on the other hand, would easily be half that price.
Why is rent so cheap in Thailand?
The cost of living is cheap in Thailand for the same reasons listed above. As for rent being so affordable, it is largely due to how competitive the rental market is. There is a seemingly limitless supply of condos available to rent in Thailand which invariably drives the prices down in an attempt to attract tenants to commit to long-term rental agreements.
Does cheap rent = a low quality living situation
The short answer is no. Again, one of the main reasons why property is cheap to rent in Thailand is because of how competitive the market is. There’s loads of property and not enough expats to rent them. As such, many foreigners can enjoy some exceptionally well-designed and situational properties at highly affordable prices.
It’s almost too good to be true (but it isn’t)
Property prices are so cheap in Thailand (compared to most Western countries), that it almost seems too good to be true. The good news however, is that it’s not!
You’ll be amazed by the variety of cheap rooms for rent in Thailand and how high quality the properties are.
Certainly, if you want to go very, very cheap (e.g., $150 per month), then you will be looking at a lower quality property with fewer amenities and interior design that could certainly use some work. However, if you are aiming for $350 – $700 per month, you can secure some truly world-class properties.
Imagine living in a condominium with a shared fitness centre, swimming pool, room service, and cleaning service, in the centre of Bangkok, right next to the BTS Skytrain stations, with plenty of bars and restaurants nearby, all for only $500 per month. It’s entirely doable if you know where to look (and hire the best real estate agents to help you).
Thailand offers an excellent quality of life for an impressively low monthly cost of living. Again, if you go mega cheap when looking for rental properties then you will have to make some sacrifices, however, there’s some excellent luxury accommodation available at prices that would be considered a ‘steal’ in the likes of New York and London.