The Bangkok Real Estate Market has seen an explosion of beautiful new condos and apartments in recent years, with many prominent buildings popping up next to the BTS (Sky Train) and MRT stations.

These condos and apartments are often well known in Bangkok amongst expats and are therefore understandably popular within the market. There is no doubt that these properties offer great living conditions, convenience and often beautiful modern facilities and that are understandably in great demand.

But what if you want to live in a Bangkok condo or apartment with a bit more character, perhaps hidden away from the usual hustle and bustle of the world, away from other Bangkok expats, but still close enough to enjoy the convenience of an international lifestyle?

Well this Bangkok property blog article is here to take you on a quick tour of some of Bangkok’s forgotten property gems. Whether they are condos, apartments, expensive or well priced, we have a list here in no particular order.

LPN Place Saphan Kwai, or Lumpini Place Saphan Kwai built by Lumpini developments is within a 5-10 minute walk of Saphan Kwai BTS station. Conveniently located near to the Big C, this property is just visible from the BTS train as it travels along the Sukhumvit line to Mo Chit. A large development housing Bangkok Studio condos, one bedroom condos and two bedroom condos, around a central swimming pool area. http://www.easyhomes.tv/property/lumpini-condo-saphan-kwai-831

Conveniently located withy easy access to the north of Bangkok, a trip to Chatuchak Market is only 10 minutes away. Also expressways to Chaeng Wattana & Din Daeng are close by.

Also in the north of Bangkok is a well built condominium with a natural feel that instills the character of a tropical garden from another era. This Bangkok condo is located near Sanam Pao BTS and is the type of condominium development to make a long-term home in. Vorasupar Condo will not suit everyone, but if you are looking for a condominium in Bangkok that does not feel like part of a production line then this is the condo for you. http://www.easyhomes.tv/property/vorasupar-condo-349

There has been a movement in the Bangkok Real Estate Market to the Sathorn area of Bangkok. Formerly just the stronghold of office blocks and towers, this part of Bangkok’s CBD has now become the home to several new and prominent large Bangkok condominiums such as The Empire Place condo, however there are also some hidden property gems in this area that don’t get as much publicity as others.

	Supalai Suan Plu is such a Bangkok condominium development, right in the heart of the CBD this condo in Suanplu is excellent value for money, where a Studio condo can be picked up for as little as THB 16 000/ month. At 40sqm and with access to Sathorn Road and easy access to Rama III expressway, this Bangkok condo is well priced and of course residents also enjoy the use of a swimming pool, gymnasium, car parking and security. http://www.easyhomes.tv/property/supalai-suanplu-1130
	Staying in the south of the city, there are also some great Bangkok apartments located in Silom, close to the Sala Daeng BTS station. SC Garden or Silom Convent Garden is a Silom apartment in the very heart of Silom’s bustling center. With Studios starting at just THB 18 000/ month this is great value for the location, cleanliness and quality of building. http://www.easyhomes.tv/property/silom-convent-garden-411
	For a bit of luxury in the same area, another Silom apartment is Baan Pipat again within a 5-10 minute walk of Sala Daeng BTS station and Silom MRT station. A 2 bedroom apartment in this luxurious complex will cost THB 60 000/month for 120sqm. It may not be the cheapest deal in Bangkok, but with beautiful decor fittings it does make the residents feel special. http://www.easyhomes.tv/property/baan-pipat-966

Moving towards the central area of Bangkok now, the very natural heart of Bangkok is Lumpini Park, and around this area are one or two beautiful, but hidden Bangkok property treasures. Baan Sarasin is one of them, located within 2-3 minutes walk of Lumpini Park, this tranquil and yet luxurious Bangkok condominium is a real find for those who like low-rise developments in peaceful areas.

Away from the hustle and bustle of the Bangkok traffic and yet within 10 minutes walking distance of Rachadamri BTS station and within a 15 minute journey of either Siam Square or Silom, Baan Sarasin is a great building to relax in. http://www.easyhomes.tv/property/baan-sarasin-lumphini-992

With all the luxuries of any Grade A Bangkok condominium and the convenience of a condo in the heart of Bangkok. Who could ask for more?

Ratchadaphisek Road, or more commonly known as Ratchada by locals in Bangkok and expats alike is in the northern part of Bangkok city center. More than 5 years ago this area of Bangkok was not popular with expats looking for condos or apartments in which to live.

In August 2005 the MRTA opened up the first underground train line in Thailand. This Bangkok subway system opened up the Ratchada area to expats and locals who wanted to live in the Ratchada area, and yet still continue to work in Bangkok city center. So since 2005 there has been a rush to open as many condos and apartments in this area of Bangkok.

The advantage of living in this area is that the cost of living is lower than living in an apartment in Sukhumvit or a Silom condo for example. So what are the costs and what is the quality on offer?

Well like with many districts in Bangkok, Ratchada has a range of apartments and condos. Due to the rarity of A grade condos in Ratchada the cost to rent them is not much different to those on Sukhumvit for a Grade B or condo. The cost would be about THB 500/sqm/month and so would be at a discount to such a property on Sukhumvit where prices can be around THB 700 – 800/sqm/month.

	One such condo in Ratchada is The Amanta Condominium which is located in the central area of Ratchada. This Bangkok condo boasts easy access to the Thailand Cultural Center MRT station and is within a short walk of The Esplanade shopping plaza. http://www.easyhomes.tv/property/amanta-residence-1036
	There are 1 Bedroom, 2 Bedroom and 3 Bedroom condos in this Bangkok development, and the quality is of a high standard. The facilities in the development and the surrounding gardens are beautiful and make this Ratchada condo stand out as the best in the area. http://www.easyhomes.tv/property/amanta-ratchada-bangkok-616

With an infinity style pool, large fitness studio and gymnasium and the landscaped garden areas this is a tropical paradise in the heart of Bangkok.

Of course most people want to live Ratchadaphisek to save money and so they want their condo in Ratchada to be less expensive and better value. However they still want quality and style and the convenience of the MRT stations.

	The Ivy Ratchada, which is located within a 5 mins walk of Sutthisan MRT station is such a condominium. Stylish, modern and bright the condos in this Bangkok property range from Studio – 2 Bedroom units. Close to Suthisan road. http://www.easyhomes.tv/property/the-ivy-ratchada-1136
	Studios start at THB 10 000/month which makes them less than THB 300/sqm/month. One bedroom condo units in this Ratchada development are also great value at THB 15 000/month. And two bedroom units can rent for as little as THB 22 000/month for approximately 66sqm. http://www.easyhomes.tv/property/the-ivy–rachada-876

Many of the people who live around Ratchada are teachers working at one of the many International Schools in the area. These expats are often looking for a great value apartment in Ratchada, again with not only easy access to an MRT station, but also many convenient places to eat locally.

One such apartment block in the Ratchada area is Sitara Place, with well maintained and very clean Studio apartments. And within walking distance of the Rama 9 MRT station. Close to the Rama 9 junction and expressway, and a short walk from Fortune Town shopping centre.

The Studios in Sitara Place start at just THB 10 500/month and offer a large living space at 40sqm. Also with amenities such as UBC, WiFi and cooking appliances included these really are great value Bangkok apartments.

So you want to rent a condo or apartment in Bangkok. So how do you go about it? Who do you ask advice from? Who is offering you a good deal? Is the landlord trustworthy? Will you get your rental deposit back?

Lets answer the above questions one at a time with good and bad example of renting in Bangkok.

So how do you go about it?

So you have just arrived in Bangkok, or perhaps you have not even got here yet and are just looking at the Bangkok Real Estate market on the internet. Perhaps you have been to Bangkok before on holiday, or perhaps you have a friend already living in and renting in Bangkok to help you. Any of the above could apply to you, and hopefully this blog article will help explain or at least reassure you of the common practices for renting a condo or apartment in Bangkok.

First of all let’s explain the differences between a Bangkok condo and a Bangkok apartment, as the two are technically not the same. One can be bought, rented and leased out, whilst the latter can only be rented or leased out.

There are of course quite a few other technical and detailed differences, if you want to know more about which one appeals more to you and why then please go to the previous Bangkok Property Blog article which goes into far greater detail:

The Thailand Condo Vs the Thai Apartment – Confused?

Ok so assuming you have read the above article and that you are familiar with the differences between Bangkok condos and Bangkok apartments then let’s look at the payment terms of renting in Bangkok.

Fortunately payment terms for renting a condo in Bangkok or for to rent an apartment in Bangkok are the same and also standardized throughout the city. And they are:

1. 2 Months Deposit
2. 1 Month Advance

So a total of 3 months, so a simple example is that you want to rent a condo or rent an apartment in Bangkok for THB 20,000/month then you must give the landlord THB 60, 000 up front. Then after that you only have to pay another 11 months (on a year’s contract) or another 5 months on say a 6 months rental contract.

This is basically the how the financials work in the Bangkok rental market and people who tell you otherwise should be viewed with suspicion. I can guarantee that is you were to call 10 reputable Bangkok Real Estate Agents after reading this blog, then you would get 10 Bangkok Property Agencies telling you the exact some thing.

Who do you ask advice from?

Well of course we would be delighted if you asked advice from us here are EasyHomes Property Services Co., Ltd. We could certainly not only offer you free professional advice, but we could also help you find a property in Bangkok at no cost to yourself. In Bangkok property agents do not charge viewing fees and there is no cost to you the client at all, our fees are paid for in the form of commission from the landlords in Bangkok whom we work with.

Our advice in general though would be to approach a reputable, established Real Estate agency in Bangkok. We do not recommend that you try and arrange a deal thorough a well meaning friend or worse still or a freelance property broker here in Bangkok, as we have heard some nightmare stories. Please check out the blog below about such ‘rogue’ traders who pray on expats new to the Bangkok property market.

Rogue Traders in the Bangkok Real Estate Market

There are plenty of quality national or international Real Estate brokers in Bangkok who can deal with clients from budgets of THB 10,000 or over so there should be no need to contact free-lance property agents or unprofessional brokers in Bangkok.

Not only will an established Bangkok property broker be able to offer you more security and knowledge, but given their established relationships with landlords they should be able to negotiate you a better rental contract than you could get yourself.

Who is offering you a good deal?

Well of course like any deal or negotiation every deal is unique and there are so many variable to one that it is impossible for me to judge on individual deals in this blog. A Bangkok condo or apartment may have a better than average view of Bangkok city center, it may be in a particularly good condominium building or the amenities in the Bangkok apartment block in which unit you choose may be unsurpassed. What I can tell you though is that I have met dozens if not hundreds of people in Bangkok whom tell me they have the best Bangkok rental deal in town, only to find out where they live and on 99% of the occasions it turns out to be no better than an average deal. In a free market economy like the Bangkok Property Market, you usually end up getting what you pay for.

However you will enhance your chances of getting a good deal by using the knowledge, help and expertise of a Bangkok Real Estate agent.

For general rules of thumb though here is a rough guide to rental prices on Sukhumvit road, the most popular are in Bangkok.

For Condos for Rent on Sukhumvit:

1. Grade C or below – THB 200-300/sqm/mth
2. Grade B – THB 350 – 500/sqm/mth
3. Grade A – THB 600 – 800/sqm/mth

For apartments for rent on Sukhumvit:

1. Grade C or below – THB 150 – 250/sqm/mth
2. Grade B – THB 300 – 500/sqm/mth
3. Grade A – THB 500 – 750/sqm/mth

As you can see Bangkok apartments are generally cheaper than condos in Bangkok, but of course this is a very rough guide and so many variables such as age of buildings, maintenance levels, location, amenities & facilities will all come into play. As will of course the styling of the building and the units within.

And what of the Grading of these apartments in Bangkok or the condos highlighted above. Well mainly they will be more obvious upon visiting the property, but if you are not sure ask your real estate agent for advice.

Is the landlord trustworthy?

Well to be quite honest when you are meeting a person for the first time or renting a property it is difficult to know. There are of course smiling assassins in this world. However if you are working with a trusted Bangkok rental broker with an established company and reputation, then they should know the landlord/ landlady, and by definition should not be recommending them if they are not.

Will you get your rental deposit back?

This is in many ways the easiest to answer.

If you have taken good advice and have chosen an established and reputable property broker, then the answer should be an undeniable ‘Yes!’ as long as you stick to the terms of the rental agreement.

If you do not choose a reputable real estate agent, and or you do not stick to the terms of the rental agreement you have signed, then it is impossible to answer, and I would often urge on the side of caution and say ‘Don’t expect the rental deposit back!’

An oversupply of condos in Bangkok would be a reason to stop buying condos in Bangkok, as the Bangkok Real Estate Market becomes awash with new condos for rent and sale.

So what are the figures and how can we draw this conclusion about the Bangkok condominium market?

Well even as early as February 2008 Bangkok Real Estate Market Analysts where remarking that the supply was becoming too great. With a total residential demand in the Bangkok property market of between 66,000 – 80,000 per year in all types of residential property in Bangkok. Which includes Town-Houses, Detached Houses and various other low-rise developments, that do not include condominiums in Bangkok.

However given this rate of supply there were in fact 80,000 – 90,000 condominium units launched in 2008, which in 2010 will come to completion and be launched on to the market. This of course will be in addition to all the other existing condos in Bangkok that are currently unoccupied.

One does not have to be a Bangkok Real Estate expert to deduce that the figures do not add up, and the increased supply of condos on to the Bangkok market cannot be met by the demand of the residents of Bangkok.

In July 2009 the Thailand Business News released an article stating that in deed not only was the demand cited in 2008 was too low for condos in Bangkok, but that also the general demand for condominiums was in fact on the decrease with more residents of Bangkok seeking alternative forms of property such as Town Houses or Detached Houses. In fact companies like Preuksa and Property Perfect released statements claiming that they would be releasing less condos in Bangkok than they had previously planned.

Of course there are developers who have bucked the trend of launching condominiums in Bangkok, Asian Properties (AP) being one such company. Ironically AP has long been known for building some of the best Townhouse and Detached House developments in Bangkok. One of Thailand’s leading English language newspapers, The Nation, reported in May 2009 that AP had decided to launch 12 new residential projects in 2009 and 7 of them where to be condominium projects.

In the autumn of 2009 AP launched The Address Sukhumvit 28, The Address Sathorn, The Address Phayathai and The Address Asoke. These projects are mainly located to existing BTS stations in Phrom Phong and Surasak and in addition are also located near the new Airport Link stations on Makasan and Ratchaparop which will allow residents easy access to the Suvarnabhumi International Airport. The Address brand is a high-end Bangkok condominium development and attracted a lot of the high-end property market whom were willing to pay over THB 100,000/ sqm for a condominium in central Bangkok.

In fact the most expensive of these Bangkok residential developments was The Address Sukhumvit 28, which was being sold at an average price of THB 150,000/sqm. This condominium development sold 85% of its units in the first pre-sales weekend!

In addition AP has launched 10 ‘Life’ branded condominium developments spread all over the city center. Also located near BTS and MRT stations these properties have offered a slightly lower level of development aiming at the mid-end market. But with an average of 500 units per building split into Studio, 1br and 2br units that makes about 5 000 units hitting the market over the next 2 years from this brand alone. And with the new Address units incorporated into the market, the Bangkok property market can expect see and increase in Bangkok condos from AP to the tune of 7,500 – 8,000 units alone!

So why are people buying these Bangkok condos?

Well many are buying multiple condo units, with investors buying as many as 10 a time in some buildings in Bangkok. But if they are buying them for speculative purposes to ‘flip’ them at the time of transfer then they are playing a very risky game, as we know that the demand is not meeting the supply of units, and this demand is often including the speculators.

The other reason is for the buy-to-let market, but again this indeed is a risky game. The only people in large numbers that rent condos in Bangkok are foreigners or expats. And there are just not that many expats in Bangkok that can afford to pay THB 25,000/month or more for a decent sized and located unit.

So there look like there will be an awful lot of Bangkok condominiums left unoccupied on the market however stylish, well located or attractive they are.

So our advice?

Stop buying new condos in Bangkok!

Siam Square is the heart of Bangkok city center. A place where the BTS Sky-Train lines cross and the Siam Square BTS station acts as a junction connecting the main areas of Bangkok city center together.

Of course there are many activities on offer in this bustling center, with students going to Chulalongkorn University, teenagers shopping in Siam Square boutiques, the Siam Paragon shopping mall and of course the MBK. Not to mention the aquarium, cinemas, bars and cafes.

However what if you want to live in and around Bangkok’s city center? Are there any good condos in Siam square to live in at a reasonable price? Can living in a condo in Bangkok be affordable even right in the center of the city?

Condo One Siam is literally in the Bangkok city center itself. Just 2-3 minutes walk from the MBK center and the National Stadium BTS station, Condo One Siam is possibly the most central condominium in Bangkok. With Studios, one bedroom and two bedroom condos on offer, Condo One Siam covers a good range of the Bangkok Property Market.

Studio units at Condo One Siam, start at THB 20 000/ month, and One bedroom and two bedroom Bangkok condos for rent are starting at THB 30 000 & THB 40 000/ month respectively. With decent sized condominium units at 50sqm and 75sqm. http://www.easyhomes.tv/property/condo-one-siam-628

Of course with land at a premium in Siam Square, then finding room to build decent sized Bangkok condominium buildings is difficult, but that is exactly what AP have done with The New York. Two large 26 & 27 floor Bangkok condominium Towers holding a total of 560 condos in Siam Square. With a roof top swimming pool, sundeck, gymnasium and squash courts, these really are high quality condominiums in the heart of Bangkok.

Situated a short walk from Ratchethewi BTS station and only a 10 minute stroll from the Siam Paragon building, these condos offer wonderful views from the heart of Bangkok’s city center. And indeed these Siam Square condos are extremely well priced with one bedroom condos to rent starting at just THB 25 000/ month and two bedrooms at THB 35 000/ month. http://www.easyhomes.tv/property/the-new-york-326

Of course Ratchatewi BTS station is located just one stop north of Siam Square and yet if you also don’t mind living just one stop from Siam square, then another excellent location is Chidlom or Chit Lom depending upon your choice of spelling. http://www.easyhomes.tv/property/the-new-york-327

The Address Chidlom is an extremely classy and well built condo in Chit Lom’s fashionable district. Just 5 minutes walk from Central Chit Lom department store. This Bangkok condo built in the Art-Deco style has one, two and three bedroom condos built in a cosy yet stylish condominium building with a lavish lobby and facilities.

	Not surprisingly, one bedroom condos to rent at The Address Chidlom start at THB 45 000/month so are on the expensive side, however the quality is evident. http://www.easyhomes.tv/property/the-address-chit-lom-1099
	And two bedroom condos for rent at The Address Chidlom are starting at THB 50 000/month. http://www.easyhomes.tv/property/the-address-chit-lom-1098
	There are even Studio condos at The Address Chidlom, but even these Bangkok condo units are not cheap at THB 25 000/month to rent. http://www.easyhomes.tv/property/the-address-chit-lom-1100

Of course in the Chit Lom area of Bangkok there is also Lang Suan which many of the condos and apartments in this area of Bangkok are within a 5-10 minute walking distance of Chit Lom BTS station.

The pick of these Lang Suan condominium buildings is the Urbana Lang Suan, with a stylish infinity edged pool on the roof of this 45 storey building, this is truly one of the most stylish and dramatic condos in Bangkok. And it would be right to say it was also one of the best apartments in Bangkok as well as it has serviced apartments housed in the building in the form of the Fraser Suites Bangkok. http://www.easyhomes.tv/property/urbana-lang-suan-149