Why investing in Chiang Mai Real Estate?

The real estate market in Chiang Mai is expanding day by day since the city is becoming one of the most popular destination in all of Southeast Asia, but the prices are still appealing to foreigners. It is a very good time to invest in a condominium with its super competitive market, a lot of new condo projects are in construction.

any people are trying to find a cheap deal but this is not the way to go if you are looking for a short or a long term investment. It is easy to make the wrong decision and then regret your condo investment later on so be careful.

When and how to invest in a condo in Chiang Mai?

You probably already know that the best deals are often the ones from condos that are still in construction. Owners of condominium buildings love to sold out even before the construction is finished, therefor securing their investment and smoothing the loan processes if they need to get funds for the project.

If you want to gamble your way to this kind of investment, you will have to check if the project is serious and most importantly you will have to check the location and understand/guess the future of that location. You don’t want to bet on a unit from a project that will stop midway through and you don’t want a condo located in a dead area.

Also, there are peak seasons in Chiang Mai for the real estate sales and rentals. These peaks are around November, or late December, and January to the first quarter of February. You might have a harder time to find a good deal during these seasons especially if you don’t have a condo broker to help you out. During the smokey and rainy seasons, it tends to be easier to snap better deals.

What are the best areas to invest in a condominium in Chiang Mai?

You may consider the fact that a new airport is in construction in Chiang Mai. This airport will be located in the Ban Thi, Lamphun area, around 30 km away from the current airport. It is critical information for any new investors in Chiang Mai who wants to take a shot on the Real Estate market of Chiang Mai. The areas surrounding the current Chiang Mai airport are full of condominium projects and a lot of money is shaking around there, so it is a good indicator.

While we are talking about the condominium projects, it is important to look for the new ones that are numbered like the Punna Oasis 2 for example, a very interesting project at the moment. If you see a number, it often means that the previous project was successful and giving you at least a head start on that front. There’s a good chance that the building is in a good location and will have a good construction.

Should you buy a new condo or an old condo?

More often than not, the first thing we can notice with newer condos is that they tend to be a tad smaller than their older counterparts, if we compare them by always staying in the same price range. Newer condominium buildings will however often be full of useful shops and also be cleaner and more reliable in general.

A lot of the newer condos are located closer to the current trendy areas like Nimmanhaemin road with the Maya mall and it’s direct access to the super highway or the old city center of Chiang Mai. Old condos will most of the time be a bit further from the action, but are still interesting since no matter where you are in Chiang Mai, you can pretty much find coffee shops and markets nearby.