Bangkok condominiums are getting smaller. I think most people will agree with that statement based on rising land prices and property developers who are keen to squeeze as many units into their land plots as possible.
The minimum useable size of any single condo unit is 20 sqm under the Thailand Condominium Act however, yesterday I viewed a 30 sqm Bangkok condominium unit for rent and it honestly felt claustrophobic.
If it wasn’t for the view (pictured) from the 24th floor – which was amazing, I really believe this rental unit would be almost impossible to live in. This, though, is a typical average new condo unit size in most parts of Bangkok. Some new Bangkok condominiums are offering even smaller spaces – some as low as 22 sqm.
There are three factors to note here. Same-sized new units at this development start from THB 2.9 million while monthly rentals average between THB 13,000 and THB 14,000 per month, excluding electricity and water. This means gross rental yield start around 5.38 percent.
The location is important too. This was close to Talad Phlu skytrain station, four stops from Saphan Taksin on the Thonburi side of Bangkok. It’s a location I am very familiar with, and one is now starting to attract the attention of foreign tenants and, to a certain extent, overseas investors.
Personally, the view from this Bangkok condominium was not enough to entice me but it got me thinking about unit sizes in general. What do you consider to be the minimum size you need for a comfortable existence? Feel free to comment.