Is there still value to be had in Chiang Mai real estate?
Not surprisingly this is a question we often get asked, and seemingly with more frequency over the last 3-4 months.
Yes, we all know that there are dozens of new condo projects coming on stream or on the drawing board—but if you take a look at their locations or, indeed, specifications, then many are simply not going to appeal to the foreigner coming to Chiang Mai to live and work or retire. Not that foreigner purchasers comprise are more than 5-10% of the total purchasers, of course—but most foreign purchasers tend to be looking for similar properties.
In short, my answer: yes, well built, well located older properties still offer value as demand remains high.
Please feel free to add your thoughts and comments below, as we look forward to hearing from you.
Perfect Homes is a leading Chiang Mai real estate agency with extensive experience in the city, regionally, nationally and internationally.