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Answereda year ago

Should I buy or rent a condo in Chiang Mai if I'm staying for 5 years?

Meeporn ********
asked Nov 26, 2025
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I just found out that the DTV Visa doesn’t limit the right to own a condo in Thailand.

If you planned to stay in Chiang Mai for 5 years

would you buy or rent?
Answer summary
The consensus among commenters is that renting a condo in Chiang Mai is a safer option than buying, especially considering the current oversaturated property market in Thailand. They suggest that potential buyers should first experience living in the property before making a purchase and highlight issues such as the low rental yields, market uncertainty, and the potential for property depreciation. Hence, for a planned five-year stay, renting provides flexibility and less financial risk.
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Ashley ***********
Ashley ***********
Rent......

Far safer in Thailand
Andrew ***********
Andrew ***********
Rent as the market is saturated with empty condos especially in Bangkok and surrounding areas there is crash coming in housing market so hold on to your money not time to bye yet
Anonymous ******************
Anonymous ******************
What do you want to do with the property afterwards? Here in the condo next to Central in Chiang Mai, half of it stands empty, the rental market is completely oversaturated, construction projects are abandoned unfinished because the developer goes bankrupt…

Nah, forget it. With the low rents here, I’d rather keep the freedom to live here today and there tomorrow!​​​​​​​​​​​​​​​​
Thorsten *********
Thorsten *********
Rent. The multiplier is not 5x or 10x for a condo purchase 😅. Have you seen some of the newer buildings starting at 6-10m baht for 1 bedroom, no thank you
Steve *******
Steve *******
Your visa has no affect on whether or not you can own property here.

However, do not buy a condo you haven't stayed in first. Most Thai developers don't really focus on quality and long term sustainability, but on flashy exteriors and cutting costs. Renting is also safer, since the property market in Thailand is suffering from an overabundance of empty units just wasting away, with owners refusing to lower the prices to sell/rent.

But if you really want to buy, stay in a condo for a year. Get to know the building and ask your neighbors who bought what they think, before you buy a place yourself.
31
Alejandro ****
Alejandro ****
Rental yields are generally kinda bad in Thailand and despite being an oversupply of housing (Generally) they still keep building more newbuilds, so I woulnd't buy. Plus, consider that you are a foreigner so it's unlikely you will find a great deal (more like the other way around). Fertility rate in Thailand is also in the gutter, so I don't see demand picking up long term. I think you'll be better off renting and investing the money somewhere else.
Maryanne **********
Maryanne **********
The property market is in free fall in Thailand atm.

Its a gamble either way .
11
Todd *********
Todd *********
@Maryanne *********
clearly you never heard of Phuket, Samui, Pha Ngan
Si *******
Si *******
@Todd ********
Been to all of them

Holiday resorts with prices to match,

Not for long term

IMO
James ********
James ********
Wise decision ✅
Todd *********
Todd *********
@Dany *******
I can totally understand. Being invested is the key. And many pathways to succeed. I didn’t retire completely at 47 by accident. Find your path.
Dany ********
Dany ********
@Todd ********
i rather take the 10% annually on my index fund. no headache, no stress
Todd *********
Todd *********
@Dany *******
real estate investment for foreigners in Thailand is definitely complicated - yes.

Are there are lot better options in the western world? Hell no. Aus, Canada, USA, UK are all falling. And it’s going to get far worse.

With real estate, you aren’t stuck anywhere. Unless you couldn’t afford the investment in the first place.

Will the growth of Thailand main tourist areas grow faster than the west for the next 20 years? I would bet on it
Dany ********
Dany ********
@Todd ********
real estate is just not the best financial investment, especially as a private person. there is a lot better options in the western world to put your money in. and with real estate your are stuck to a single place for a long time. so there is also multiple social factors in thailand.
Todd *********
Todd *********
@Si ******
not for long term?? If you are ever wondering why you aren’t making much money, that’s why. Take advantage of strong markets when they go stratospheric. Prices have more than doubled in value since mid Covid. People making a killing.
สมองควาย ******
สมองควาย ******
@Todd ********
clearly he’s talking about Chiang Mai because he said Chiang Mai.
Todd *********
Todd *********
สมองควาย ๒๕๖๘ clearly you can’t read. Just follow along on the thread.
Anonymous ******************
Anonymous ******************
Just rent, unless you want to stay forever
John *********
John *********
Rent because you will end up paying a farang price, basically far too high. Rent gives options. 🤦🏻‍♀️
Brandon ************
Brandon ************
If I planned to stay in Chiang Mai for 5 years, I would try to find a short term rental so I could move south for the 4 months where the air is unbreathable.
25
Meeporn ********
Meeporn ********
OP
Thank you for sharing your thoughts 🙏 Really appreciate your input

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