Bangkok is the largest as well as the capital city in Thailand, strategically located in the heart of South-East Asia. Once a small trading center, Bangkok has now become one of the world’s most popular destinations, and is regarded as the gateway to the country.

Residential property in Bangkok includes everything from houses, townhouses, and housing estates to condominiums, flats, and serviced apartments. In fact, the city boasts of some of the most wonderful residential properties in the world. Perhaps most sought after among the residential property types in Bangkok are apartments. You can see high-rise apartment blocks dominating the city’s skyline. This option is highly popular among expatriates, since it is mostly attached with round the clock security services and repair services, apart from facilities such as state of the art fitness rooms, children’s play area, and garden.

Another popular category of residential property in Bangkok is condominiums, which is more or less like apartments, only with the exception that they are mostly individually owned. This in turn allows you to rent it directly from the owners. Both furnished and unfurnished condominiums units are available. One of the specialties of condominiums is that it is the only type of property that could be owned by foreigners.

Residential property market in Bangkok also consists of serviced apartments. This choice is a great alternative over expensive hotel rooms, and is regarded as an excellent accommodation option for frequent business travelers as well as tourists who are here for long stays. Further, a host of benefits could be derived via living in a serviced apartment, including, privacy, excellent living style, and competitive rates.

A serviced apartment is mostly complete with all facilities and amenities that an upscale hotel renders, such as, tastefully decorated rooms, most sophisticated entertainment facilities, restaurants, superb dining facilities, swimming pool, 24-hour service, and daily maid services. Apart from these, some of the most luxurious apartment blocks come with facilities such as laundry services, coffee shop, convenience store, and bakery. The cost of a serviced apartment usually depends on the nature, size, number of bedrooms, and facilities and amenities in it.

Residential properties in Bangkok is primarily concentrated around such areas as Chiang Mai, which in turn is a much favored spot among foreign nationals who are looking to settle down here permanently. Also, hot spots for residential units in Bangkok are Ram Intra, Rangsit, Nonthaburi, and Chang Wattana. Since it is within easy reach of almost all top attractions and superb facilities in the city, such areas as Central Business District are much sought after.

In addition, it can be provide you with a continuum of financial as well as personal benefits. However, a foreigner cannot easily own a residential property in Thailand, since laws in connection with Thai property acquisition is nationalistic. In fact, leasing is one of the most popular options for foreigners who cannot purchase a property in Bangkok.

The first thing you should know is that properties change hands fast in Bangkok. So, when you have finally found that one property you like, try to stop yourself from wanting to see more “just in case there is something else out there”. Those who are decisive move in weeks after, excited while those who hesitate too long end up settling for second best and sometimes, may even cost them more in rent.

Call your agent immediately and tell them about your decision. You then need to decide what extras you need in the property and the price you are happy to pay. Then the agent can go off and negotiate on your behalf. Once the rental price and extra items are settled, you need to arrange for an initial deposit, or what we call a “booking fee” to secure the property. Putting down a booking fee guarantees you the property, so you can go off and start organising the move. Without it, there is always that chance that someone else might come along and take it from you. Basically, whoever puts down the money first, gets the property! To prevent that from happening, the initial deposit required here is usually equivalent to one month’s rent with the remaining to be paid at the signing of the contract. This can be done once the contract is approved on both ends.

If you are renting an apartment, which is owned by a single entity or business, chances are the contracts are not going to vary very much since these are very standard, thus you can quite confidently put down the deposit and then have the contract sent to you later. Most apartments are flexible on simple clause changes (within reason) but if you require a diplomatic clause included, it’s best you settle that before you put down the booking fee.

The standard security deposit in Thailand is two months rent, plus a month’s rent in advance. Therefore, you pay three months upfront when you move into a new premise. You are entitled to have that security deposit returned to you at the end of your lease term, provided the property is handed back to the owner in good condition, taking into account normal wear and tear. Should you break lease before the end term of your contract, the landlord can rightfully forfeit your despoit unless a diplomatic clause is applicable. However, a diplomatic clause is only applicable in cases of overseas job transfer, termination of work or political crisis, and requires company supported documents as proof. It does not cover situations when you’ve suddenly decided you need a bigger place and wish to move.