Investors that are looking at residential condominiums to be rented out to tenants must first ascertain what the tenants need before they choose units to maximize the returns on investment. Most of prime rentals are leased to expatriates making it important for buy-to-rent investors to understand their preferred locations, sizes and types of units.
According to Alien Occupation Control Division of the Department of Employment, most of the expatriates in Bangkok are working with 85,000 of them with work permits. There are also diplomats and expatriates working in nearby areas but live in the capital city. The most popular locations for expats are Sukhumvit, Lumpini and Sathorn located in Central Bangkok.
If a property investor wants to maximize on his investment, the best option is to buy properties along these locations that are closer to the BTS station. Streets where there are entertainment outlets must be avoided. To maximize the appeal of the property, the rental must match the popular budgets of expats.
There is common misconception that expats enjoy large housing allowances. That is not the case with Bangkok where most expats work in the manufacturing sector and services that support the sector. Based on analysis, the most common housing budget is between 60,000 to 70,000 baht per month for a 2-bedroom unit or 80,000 to 100,000 baht per month for a 3-bedroom unit. There are expats that enjoy housing allowance from their employers but it is very unlikely for them to allocate from their own salaries to rent a bigger and better unit.
Aside from location, there are factors that can increase demand for condominium units like size, overall look, efficiency of the layout, general feel of the building and the quality of furnishings, facilities and appliances. If the condominium owners have not made any improvements to the property in the previous years, it may no longer be attractive to tenants.
Investors who are looking for buy-to-rent properties can choose from a wide range of condo for sale Pattaya and house for sale in different locations and price ranges. Fundamental start-up assistance is provided to investors to find the perfect investment in Pattaya that will be attractive to tenants.