Before you set your sights buying a condo for sale in Sukhumvit, or any other area in Bangkok, make sure you’re looking at the right sort condo for your needs. The word “condo” has a legal definition in Thailand. It’s not just an alternative descriptive term for an apartment.
Condos are freehold strata units in a building where the owners are also co-owners of the buildings common areas, including fitness centres, swimming pools, lifts and lobbies.
Foreigners are entitled to own up to 49% of the area of a condo building. They can buy and sell their condos freely on the real estate market.
A Condo for Sale in Sukhumvit is Desirable
The Sukhumvit Road area of Bangkok is a large and desirable area in which to reside. One line of the BTS Skytrain runs along Sukhumvit Road, providing quick and easy access to other areas of the city. Sukhumvit Road is a major artery of the city that runs for many kilometres from Siam Square out towards Bang Na. Residentially, the “Sukhumvit area” is usually defined as the areas between Siam Square and the Bearing BTS Station.
The area is home to several upscale shopping malls, as well as shops, restaurants, nightclubs, hospitals, international schools and office buildings. It’s a vibrant, bustling and modern area of Bangkok.
Bangkok has recently undergone a condo development boom. There are many new condo developments all over the Sukhumvit area that offer high-quality studio to multiple bedroom units, luxury facilities and many amenities. These amenities can include convenience stores, dry cleaning establishments, children’s playgrounds, swimming pools and fitness centres right in the condo buildings common areas.
Condo Purchasing Opportunities
There are generally three choices to make when buying a condo for sale in Sukhumvit. You can buy one of the new projects as described above as your primary place of residence. These luxury condos are also usually in the most desirable areas for access to public transportation as well as modern shopping malls and entertainment areas. The downside is buying a brand new condo often means you’re buying an off-plan unit that still needs to be completed.
To avoid the risks of buying off-plan, you can also buy re-sale condos. There are thousands of condos for sale in Sukhumvit that are every bit as luxurious as new condos still under development. These condos offer immediate occupancy, the opportunity to shop for bargains and the benefit of being able to inspect the actual unit before purchasing.
The third option is buying a condo for investment purposes and renting it out to tenants. Depending on the specific area, condos can retain or increase in value over the years. Buying a condo in a highly desirable residential area along Sukhumvit Road can be a good investment, particularly if you know the future development plans for the immediate area.
Condos for sale in Sukhumvit can be the most comfortable place to reside, and one of the most secure investments in Bangkok. The fact that ownership is open to both Thais and foreigners makes ongoing development of even more luxurious condos all but inevitable.