Real Estate in Chiang Mai, Thailand
Last updated on Jun 01, 2023
Summary: The average cost of a nice 2 bedroom home in Chiang Mai, Thailand is around $100,000 USD. A nice 3 bedroom home in Chiang Mai is around $150,000 USD. These properties typically include modern amenities such as air conditioning, hot water, and a kitchen. Some may also include a balcony or terrace. Foreigners are allowed to own property in Chiang Mai, but there are some restrictions. For example, foreigners are not allowed to own land, but they can own condominiums. The best way for an expat to search for a home to buy in Chiang Mai is to use a real estate agent or search online. There are many websites that list properties for sale in Chiang Mai. The most desirable neighborhoods in Chiang Mai are Nimmanhaemin, Chang Phueak, and Suthep. These areas are known for their vibrant nightlife, shopping, and restaurants.
How do I find a place to live in Chiang Mai?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Our friends are here and it is the perfect little soi. Not to quiet, not to noisy. The house was just perfect for us. It is in the city of Chiang Mai and close to everything. But, the pollution is getting bad. We may have to move up on the mountain," said one expat who made the move to Chiang Mai.
"One of the best ways to find a place to live in Chiang Mai is to search online for rental listings. There are many websites that offer listings for apartments, condos, and houses in the city. Additionally, you can look for classified ads in local newspapers and magazines. You can also ask friends and family who have lived in Chiang Mai for recommendations. Finally, you can visit the city and look for “For Rent” signs in the windows of buildings," explained one foreigner living in Chiang Mai, Thailand.
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What is a typical expat home or apartment like in Chiang Mai?
"We have a private house, traditional Thai. We are the only expats we know who have a house here. Most live in guesthouses, condos..etc," said one expat in Chiang Mai.
"Expat homes and apartments in Chiang Mai are typically modern and comfortable, with air conditioning, high-speed internet, and other amenities. Many expats choose to live in condos or apartments in the city center, close to restaurants, shops, and other attractions. Outside of the city center, expats can find more affordable housing options, such as single-family homes or townhouses. Many expats also choose to live in gated communities, which offer a sense of security and community," remarked one member in Chiang Mai.
What is the average cost of housing in Chiang Mai?
If you are thinking about moving to Chiang Mai, cost of living in probably a key consideration. Expats commented about the cost of housing:
"Lower. We don't have a/c, which we may soon regret. But average living costs for us are about 30,000B. But we like to go out alot," explained one expat living in Chiang Mai, Thailand.
"The cost of housing in Chiang Mai varies depending on the type of accommodation and location. Generally, the average cost of housing in Chiang Mai is relatively affordable compared to other cities in Thailand. Rent for a one-bedroom apartment in the city center can range from around 5,000 to 10,000 baht per month, while a three-bedroom apartment can range from around 10,000 to 15,000 baht per month. Outside of the city center, rent can be significantly lower," said one person in Chiang Mai.
Should I buy or rent a home in Chiang Mai?
If you have not spent a lot of time in Chiang Mai, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Chiang Mai can be a great investment, as the city is growing in popularity and real estate prices are still relatively low. However, it is important to consider the cost of living in the city, as well as the availability of rental properties. Renting a home in Chiang Mai can be a great option for those who are not ready to commit to buying a home, as it allows for more flexibility and can be more cost-effective in the short-term. Ultimately, the decision to buy or rent a home in Chiang Mai should be based on individual needs and preferences," remarked one foreigner who made the move to Chiang Mai.
"No ownership although many people are building and condo are offering incentives," explained one person living in Chiang Mai, Thailand.
What do I need to know when buying property in Chiang Mai?
When we asked expats what advice they would give a foreigner before buying a property in Chiang Mai, they said:
"When buying property in Chiang Mai, it is important to research the local laws and regulations regarding property ownership. It is also important to understand the local market and the current prices of properties in the area. It is also important to have a clear understanding of the taxes and fees associated with purchasing property in Thailand. Additionally, it is important to have a clear understanding of the process of transferring ownership of the property, as well as any restrictions or limitations that may be in place. Finally, it is important to have a clear understanding of the local infrastructure and amenities available in the area," said one person in Chiang Mai.
Are foreigners allowed to own property in Chiang Mai?
When we asked expats what advice they would give a foreigner before buying a property in Chiang Mai, they said...
"Foreigners are allowed to own property in Chiang Mai, but there are certain restrictions and conditions they must follow. Foreigners cannot directly own land in Thailand; however, they can own a condominium unit, as long as at least 51% of the building is owned by Thai nationals. If a foreigner wishes to own a house, they can do so by leasing the land for a maximum of 30 years, with the possibility of renewing the lease for another 30 years. Alternatively, a foreigner can set up a Thai limited company, with the majority of shares held by Thai nationals, and purchase the land through the company. It is essential to consult with a local lawyer to ensure compliance with Thai property laws and regulations," said one foreigner living in Chiang Mai, Thailand.
What appliances are typically included in a rental?
We asked foreigners in Chiang Mai what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Rental properties in Chiang Mai typically include a refrigerator, stove, oven, microwave, washing machine, and air conditioning unit. Some properties may also include a dishwasher, water heater, and other small appliances," explained one foreigner living in Chiang Mai, Thailand.
Additional Information about Searching for a Home in Chiang Mai:
We asked foreigners in Chiang Mai what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats searching for homes in Chiang Mai often start by browsing online property websites and local classifieds to get an idea of the housing market. They may also join expat forums and social media groups to seek advice and recommendations from fellow expats who have already gone through the process. Additionally, they can visit local real estate agencies and enlist the help of a real estate agent who is familiar with the area and can help them find a suitable home. Expats may also explore popular neighborhoods in Chiang Mai and look for rental signs or speak with locals to find available properties. Lastly, networking with other expats and attending local events can also lead to potential housing opportunities," said one person in Chiang Mai.
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
Other Questions:
- What do I need to know before moving to Chiang Mai?
- What is a typical expat home or apartment like in Chiang Mai?
- What is the average cost of housing in Chiang Mai?
- How do I meet people in Chiang Mai?
- What do I need to know before retiring in Chiang Mai?
- What should I pack when moving to Chiang Mai?
- Where should I setup a bank account in Chiang Mai?
- Will I be able to find a job in Chiang Mai?
- What is life like as an expat in your area?
- What do people like (and dislike) about Chiang Mai?
- What type of social life can someone expect in Chiang Mai?
- What is the social scene like in Chiang Mai?
- What advice to expats in Chiang Mai have about housing?
- What are medical services in Chiang Mai like?
- Are healthcare and health insurance expensive in Chiang Mai?
- Is the cost of living in Chiang Mai high?
- What are the visa & residency requirements in Chiang Mai?
- Why do people move to Chiang Mai?