Bangkok City is filled with luxury condominiums. Whether it’s hotel-like room services, top of the line facilities, prime locations or stunning views that take your breath away, Each luxury condominium has its own unique selling point that sets itself apart from its competitors. There are a few factors to take into account as to what defines Bangkok luxury condo, why do we buy luxury condo in Bangkok, where should you buy a condominium in Bangkok and what are the prices of Luxury condo in Bangkok.
When you think about the most luxurious area in Bangkok City, most people would end up thinking ‘Sukhumvit’. This is because Sukhumvit is one of the areas in Bangkok City with a large number of expats both working and living in. As Bangkok’s busiest business district, Sukhumvit is filled with luxurious shopping malls like EM District, and lots of major companies headquarters are situated in the area. Due to Thailand’s infamous traffic situations, most employees at top companies prefer to live in the same area as where they work with the fact that the whole area is all accessible by BTS, this makes the pricing of living areas in Sukhumvit area, the perfect mixture of convenience and comfort, extremely competitive and is highly sought after.
Popular Bangkok Luxury Condo
There are more than a few luxury condos in Bangkok that are highly sought after like The Met at Sathorn, the fifth tallest residential building in Thailand consist of 66 floors and 370 units, located within walking distance of Lumpini Park, various shopping mall, all kinds of entertaining center and is just 650m away from BTS Chong Nonsi. Offering spacious rooms ranging from 93sq.m and up to 550 sq.m, the Met main concept focuses on ‘The Art of Living in the in the Heart of Bangkok’. Facilities include top of the line gym equipment, 50m wide infinity edge swimming pools, 2 tennis courts and many more.
Millennium Residence Bangkok is another one of Bangkok’s highly desired luxury condos. Millennium Residence @ Sukhumvit is a premium class residential complex that integrates convenience and comfort perfectly, it is built on a land mass of over 12 rai ( about 5 acre) which leaves plenty of room for a playground for kids within the condo community to interact. The condominium is family friendly and offers spacious rooms ranging from 68sq.m up to 637sq.m. Not many condo facilities are on the standard of Millennium’s, with an olympic sized swimming pool, it’s own wellness center, fully equipped gym equipment and sauna, the condo facilities are in it’s own stand-alone building. This condominium is also considered as a condo near NIST, an international school. Which is very convenience for students, parents and teachers.
The Quattro By Sansiri, one of the first condominiums from one of the most well known home developers in Thailand. The condominium was completed in 2011, with 36 floors and 446 units available, the condominium offer rooms ranging from 49.5 sq.m to 295.5sq.m. It is one of the condo near BTS, located just 10 minutes away from BTS Thonglor and asides from a fully equipped gym, 2 swimming pool and it’s own garden area, The Quattro By Sansiri offer exclusive services like Valet Parking, Butler Service and shuttle car services for it’s guests.
Why consider a luxury condo in Bangkok
What defines a Bangkok luxury condo? Sure, this cost more than the market price but the value you get out of it is more often than not, worth it. For one, you get top of the line quality material with beautiful designs, but that is not the main point. The main point is that you get the benefit of living in a condo with the comfort of living at home. You get top of the line fitness equipment, prime location that makes it convenient to travel in the city and breathtaking view of a high rise condominium without having to sacrifice living spaces and comfort. Living in a luxury condo in Bangkok is definitely worth it in both functional and emotional value.
Things you need to know when buying condominium in Bagkok
Thailand property taxes and fees are very low as Thailand does not charge annual property tax but there is still a few taxes and fees you need to keep in mind when buying a condo in Bangkok.
First, there’s 2% property transfer fee that is typically split between the seller and the buyer, and sometimes you may need to pay an addition of 0.5% stamp duty in cases where seller doesn’t cover it(which they normally do). Keep in mind that if you sell the condo within five years of purchase, you may need to pay an additional 3.3% on “specific business taxes”.
Rental income taxes Thailand is relatively low as most landlords pay around 5% or less, and even then, you may take plenty o deductions to lower those taxes even further.
Last thing to keep in mind is that most condominium, especially high-end ones, in Thailand have what you would call a “management fee” that covers the building facilities, parking lot, management and inhouse staffs and these fee varies from one condominium to another. If you are looking for Millennium for rent and Millennium for sale, feel free to contact us at any time.