SIX TYPES OF HOUSES IN THAILAND: WHAT MAKES THEM DIFFERENT?
In Thailand there are mainly six types of residential properties available to Thais and foreigners.
A condominium, or condo, is a building that can be separated into units for individual ownership and which include personal and common properties. Usually, the units are also called condos. They can be bought or rented from the owners or the agents. Furthermore, they are often fitted with a wide range of appliances to satisfy the most demanding buyers or renters.
Usually, the condo’s range options go from studio (1 room + open kitchen) to 1 bedroom (living room + bedroom + open or closed kitchen) and 2 bedrooms (living room + bedrooms + closed kitchen). High class (THB 120,000-160,000 per sq.m.) and above condominiums are fitted with common facilities such as fitness center, swimming pool, panoramic lounge, BBQ area, social club, meeting room, co-working space, and others.
An apartment is a rental room in the residential building, which has only one owner. The rental fee is of moderate scale targeting from college students to office workers. The room may be equipped with some basic appliances, such as bed, closet, sofa, and washing machine. Furthermore, the serviced apartment type of building, an upgrade version, is also common in Thailand; Bangkok in particular. It features almost the same as a hotel; hence, the rental fees are higher.
A home office is almost the same as a townhome, but the building is used as a living plus working area and includes parking slots for customers. Over 4 floors it may be considered as a commercial building. In Bangkok, the type of home office building is seen, for example, in Kaset-Nawamin and Krungthep Kreetha, the latter en route to Suvarnabhumi International Airport.
A single-detached house, or single house, usually consists of a 2-stories building fitted with 2-3 bedrooms and bathrooms, 1 living room, and 1 kitchen. Privacy is assured due to its wide space. A villa is a spacious and commonly luxurious property included in this group. It sits in a large plot of land surrounded by some type of nature.
A semidetached house, or twin house, is like a single-detached house, it is built having two houses sharing one common wall.
A townhouse, or townhome, is a row of houses that are joined by a shared wall. This type of residential property has a more modern and luxurious design than the previous one. Townhouses can also be fitted with more features; therefore, prices are higher. They can rise to 3-4 floors and have 1-2 parking lots. This type is very popular in Thailand, especially in the most important cities, such as Bangkok, Phuket, Pattaya, and Chiang Mai.
Before & After
The rise in popularity of the condo (and apartment) market in the last decade is due to two main factors. One is related to the 2011 floods that hit the country and caused damages in low-rise houses, especially in Bangkok and its vicinity.
Many have lost their belongings after the waters hit the ground floors without prior notice. In the aftermath of this event, buying condos was a natural option in terms of safety and affordability.
Secondly, a great number of foreigner buyers led by Chinese have put the condo market on nine clouds. Property developers took this opportunity to buy plots of land in Greater Bangkok and build a wide range of projects catered to all kind of public from super economic to the ultimate segment.
Some developers also engaged in joint-ventures with foreigner companies from China and Japan that poured billions of THB into the sector. New projects also followed the trend of providing living solutions to meet customers’ demands on lifestyle and well-being. Furthermore, the demand for Thais has increased because they become with more economic power; hence, have easier access to credit institutions.
Also, the rail transport hub in Bang Sue connecting Bangkok to Nong Khai; Don Mueang, Suvarnabhumi and U-Tapao, as well as Chiang Mai, is seen as a great potential for the real estate industry.
Locations like Bang Sue-Dusit, Huay-Kwang-Chatuchak, Din Daeng, upper Sukhumvit, Nonthaburi-Pak-Kret and Airport Rail Link have increased in value with many new residential projects coming to light.
In recent times the single-detached houses, semi-detached houses, and townhouses have gained momentum with Thais and foreigners. They are making their selective choices having in mind the gains in a comfy place to live, as a second home, or even as an investment.
New projects have been carefully planned by developers regarding location, new infrastructures, or the houses’ architecture evolution, in a way the impact of the floods becomes minimal or non-existent.
According to the Agency for Real Estate Affairs, during the first five months of 2019, a total of 37,608 units were newly launched in the Bangkok Metropolitan Region at a global value of THB 147,209 billion or USD 4.7 billion. The average price was THB 3,925 million or USD 125,400.
Condominiums made 66% of the supplies; whereas, townhouses and detached houses have reached 18.5% and 10.2%, respectively. In terms of value, condominiums were accounted for 56.8%, followed by detached houses (22.6%) and townhouses (14.2%).
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