Chiang Mai is a beautiful city that is located in mountainous northern Thailand. Before 2011, the city was overlooked by investors and property buyers as they concentrated mostly on Bangkok and the Pattaya. But gradually, they started to see the potential possessed by the city. Chiang Mai is surrounded by the breathtaking rainforests and is a pretty calm city when compared with others like Bangkok. Due to this, a number of expats see it as a good option for investment in Thailand Property.
Below mentioned are a few of the reasons for buying or investing in rentals or condos in Chiang Mai.
Cheap Living Cost
When the quality of life and cost of living of Chiang Mai is compared with the other cities of the World, the city is among the cheapest. A person can easily get a good accommodation over here with as less than $100/month. By investing up to $500 you can easily get a fully serviced room at a hotel. The city also provides a good option for renting condos or apartments at around 4000-7000 Baht. If you want to buy your own condo or apartment, the prices start at $25,000. However, a good apartment can be purchased by paying at least $50,000. For making a choice of the condo you can take the assistance from a real estate agent.
Amazing Landscape and Infrastructure
Chiang Mai is a great combination of modern as well as traditional history. As the city is located in the mountain area of Thailand it is a great tourist destination. You can find a number of restaurants, spas, golf courses and massage centers. As it is a traditional city, you will be able to find more than 300 temples. The city has a huge collection of shopping malls that will give you the opportunity to buy almost anything.
Number of Social Communities
As an expat, you will never feel lonely in Chiang Mai. There are a number of social groups in the city that will give you an opportunity to spend your time in the best possible way. There is a club that has been named as the Chiang Mai Expat Club that organizes a number of activities and events. All you need to do is pay a one-time membership fee of 1000 Baht for being a part of it. The club will enable you to get introduced to a number of other foreigners and make friends with them.
Low-Cost Medical Services
Thailand is a country that is known to provide medical services at a very low cost. You can easily afford any kind of dental and medical treatment and even the health insurance if you tend to live in the country. Some of the medicines that are expensive are reproduced locally at a much lower cost or are imported from countries like India. However, if you are willing to afford the cost you can buy the branded medicines.
Booming Property Market
After 2011, the Chiang Mai property market saw a tremendous growth. A major reason behind this has been the floods that occurred in Bangkok. A number of middle-class people have since started to look for an alternate location for their home. A number of international investors have also shown their interest in the city. As the number of tourists in the city has been increasing at a steep rate more and more investment will be seen in the near future.
Conclusion
Are you looking to settle down abroad as your retirement home? If yes, then you must definitely consider Chiang Mai. It is a pretty calm city and doesn’t suffer from the rush that is seen in other cities of Thailand.