Today, people are increasingly choosing to live in condos due to the convenience of amenities, minimal maintenance, enhanced security, and a sense of community. 

Strategic urban locations also contribute to the popularity of condo living. Additionally, condos can be more affordable than traditional homes, making them an appealing investment option and a preferred choice for many in the current housing market.

But when it comes to the question of whether you should buy or rent the condos, there could be various answers. The decision to buy or rent a condo largely depends on personal circumstances. However, if you are considering buying or renting a condo, you should purchase one from a trustworthy and reliable real estate agency.

In this article, we’ll look into the pros and cons of renting a condo and buying a condo to help you find out which way suits you best. If you are interested in renting a condo, we also came up with 3 condos for rent in Bangkok that are situated in a great location and full of amenities.

Pros and Cons of Renting a Condo

Pros of Renting a Condo:

• Reduced Maintenance: Typically, landlords or property management handle maintenance issues, relieving tenants of the responsibility and cost.
• Access to Amenities: Many condos come with shared amenities such as pools, gyms, and recreational areas that tenants can use.
• Lower Upfront Costs: Renting usually requires a smaller upfront financial commitment compared to buying a condo.
• Enhanced Security: Living in a condo offers increased security through key card access, surveillance cameras, security guard, and etc.

Cons of Renting a Condo:

• No Equity Buildup: Unlike homeownership, renting does not contribute to equity buildup, as tenants do not own the property. Renters may also have restrictions on personalizing or renovating the space.
• Rent Increases: Rent is subject to increase, and tenants may face rising costs over time, impacting long-term affordability.
• Lack of Investment Return: Renting does not offer the potential investment return that comes with property ownership.

Top 3 Condos for Rent in Bangkok

1. Edge Sukhumvit 23

The Edge Sukhumvit 23 is a high-rise condo located in a significant Central Business District (CBD) in one of Bangkok’s key areas.

• The condominium boasts a comprehensive range of amenities and convenient facilities such as a swimming pool, fitness, garden, library, etc.
• It comprises 35 floors with 443 units available in 1-bedroom and 2-bedroom configurations, ranging from 29.50 to 69.50 square meters.

This condominium project in city central is a good choice of condo for rent in Bangkok as it is located near BTS Asok (only 250 meters away) and the Sukhumvit MRT interchange which provides convenient access to other destinations. Not only located near a business area, The Edge Sukhumvit is also located near famous shopping centers such as Terminal 21, Emporium, and EmQuartier.

Recommended unit:

1 Bedroom, 1 Bathroom, 30.0 sq.m click

2. 28 Chidlom

Looking for a condo for rent in Bangkok near the Central Business District? This high-rise condominium is centrally located in a picturesque setting, in Chidlom 28, close to the CBD, and offers you a refreshing green space despite being in a crowded area. The property offers various amenities such as a Reading Lounge, Heated Spa Pool, Sky Lap Pool, Fitness center, and more.

• The condominium consists of two buildings: The Villa, standing at 20 floors, and The Tower, soaring to 47 floors, totaling 425 units.
• The unit configurations include 1-bedroom, 2-bedroom and 3-bedroom options.

Situated in the convenient transportation hub with a skywalk and close to BTS Chidlom (only 250 meters away). The 28 Chidlom offers easy access to workplaces, hospitals, schools, and renowned universities like Chulalongkorn University. Additionally, it is near prominent shopping centers, including Central Chidlom, Central Embassy, Big C, and The Market Bangkok. All of which makes it another great choice of condo for rent in Bangkok.

Recommended unit:

1 Bedroom, 1 Bathroom, 38.0 sq.m click

3. The Line Ratchathewi

The Line Ratchathewi is a high-rise condominium located in the heart of the business district, featuring tastefully decorated living spaces and amenities, including a swimming pool, fitness center, library & co-working space, rooftop garden, etc.

• The 38-story condo comprises 231 units available in studios, 1-bedroom, 2-bedroom, 3-bedroom, duplexes, and penthouses, with sizes ranging from 27.75 to 119.5 square meters.
• The condo is close to BTS Ratchathewi (220 meters away) and BTS Phaya Thai (650 meters away).

It is surrounded by various convenient facilities— shops, restaurants, hotels, educational institutions, and leading shopping malls like Siam Paragon, Central Embassy, and CentralWorld.

Pros and Cons of Buying a Condo

Pros of Buying a Condo:

• Ownership: Buying a condo provides ownership, allowing you to build equity over time and potentially benefit from property appreciation. You have more freedom to personalize and modify living spaces compared to renters.
• Stability: Homeownership offers stability, as you have control over your living situation and are not subject to potential rent increases or lease expirations.
• Investment Potential: Condos can serve as an investment, providing rental income if you choose to lease it out.

Cons of Buying a Condo:

• Monthly Fees: Condo owners typically pay monthly maintenance fees to cover shared expenses, which can increase over time.
• Limited Control: Condo owners can be subject to the rules and regulations, which can restrict certain activities or modifications.
• Resale Challenges: Market conditions can impact the resale value of condos, and selling a condo may take longer compared to a single-family home.

3 Things to Know When Buying a Condo

1.A condo in a prime location will gain more profit for the owner.

This appreciation is driven by factors such as proximity to business districts, convenient transportation, and access to amenities. Investing in a condo situated in a prime location not only offers the potential for increased property value but also enhances the resale value.

 2.Terms and conditions for foreigners to own a condo in Thailand.

Foreigners are limited to a maximum ownership of 49% of the overall floor in a condominium, while the remaining must be held by Thai individuals or entities. Also, the money for the transaction must be transferred from an international bank account to Thailand, and all necessary documents for clarification of the money transfers are provided.

 3.Terms and conditions for foreigners to get a mortgage in Thailand.

Some banks allow foreigners to get a mortgage in Thailand. Some might offer to those who have Thai spouses, or foreigners who need Appealing interest rates and terms as Thai citizens. The usual conditions for considering a loan are the property location, the purposes, the currency of the loan, the payback period, the work permit, etc.

Both buying and renting a condo in Bangkok have different pros and cons. Individuals should weigh these factors carefully to make an informed decision that aligns with their needs. However, finding a reliable agency will help you find the perfect condo.

Plus Property is a full-service professional real estate agency that provides comprehensive assistance in reselling/letting properties and the purchasing of second-hand condominium units. With more than 20 years of experience, PLUS’s team of quality professionals manages residential and commercial properties and also manages projects’ sales and marketing, heeding all types of demand.

For additional information about our services, call 02 688 7555, or click here.

Related Articles

Find Your Space: A Guide to Finding an Apartment for Rent in Bangkok

Finding a new location to call home in the bustling metropolis of Bangkok will require you to consider a wide range of variables, as you will quickly discover. The work was difficult due to the wide variety of available condo alternatives and the significant variance in amenities and rental prices. But if you have the correct information and direction, you can find your way through the myriad options and into the ideal apartment for rent in Bangkok. Read more.

Top 5 Bangkok Condo for Rent Locations for Expat

Bangkok is a very appealing location for expatriates from around the world. When looking for a Bangkok condo for rent, there are a few key neighborhoods that are ideal for expats. There they can find many condos near BTS or MRT stations while providing other conveniences such as shopping, dining, and entertainment. Plus Property would like to share the top five Bangkok condo for rent locations for expats. Read more.

Introducing Condo For Rent in Bangkok Near Ploenchit

Finding a condo for rent in Bangkok can be difficult because you will have so many options! One of the best ways to narrow your choices is by picking a neighborhood that is right for you. A trendy part of town where you can find an apartment for rent in Bangkok is Ploenchit.   Read more