Let’s face it, so far 2021 has been a rough year!
The 3rd outbreak of COVID-19 is wreaking havoc to the Thai economy and the “tough restrictions” imposed on the daily lifestyle of Bangkok’s residents feel like a replay of 2020 (A year we would all rather forget!).
The third wave of Covid-19 in Thailand that started in March-April this year, was unexpected and the uncertainty it has created has inevitably had a negative downward effect on the Capital’s rental market.
The rental market of Central Bangkok has traditionally been expat-led, especially in the Capital’s prime areas such as Asoke, Phrom Phong and Sathorn; where plush downtown luxury projects are usually offered at premium rental rates.
When Life Gives You Lemons, Make Lemonade!
While all this may sound like doom and gloom, it is actually a good time to be a tenant.
In property professional jargon, Bangkok is currently a “Tenant’s Market” aka… it is a great time to get RENTAL DEALS!
The amount of rental discount provided is obviously dependent on the property and landlord; however, in recent weeks Fresh Property has seen big discounts sometimes as much as 15-30% compared to the standard rental rate!
At the moment, Bangkok landlords are more inclined to offer large discounts, especially in the following situations:
- If the renter is able to move-in asap.
- If the renter is able to rent for longer than 1 year (I.e., 18-Months or 24-Months)
- If the renter has a good and stable professional profile.
If a tenant can offer any of the following benefits above to a landlord, this can be used as a negotiation tool to obtain a larger rental discount!
Examples of Newly Listed Rentals at HUGE DISCOUNTS!
Ideo Mobi Asoke
1 Bedroom/ 1 Bathroom/ 33 Square Meters @ Only 15,500 THB Per/Month
Ideo Mobi Asoke by Ananda is a new project completed only 1-2 years ago. It is located in the heart of the Asoke Business District, a vibrant commercial hub with shopping malls (I.e. Terminal 21 and Mid-Town Asoke), restaurants and shops located nearby.
The residence is stylish and it offers residents a large selection of luxury amenities such as a rooftop pool, co-working space and lounge, fitness center and greenspaces.
The property is well-presented, modern and ready to move-in, usually 1-Bedroom condos rent for about 20,000 THB per month, this unit is offered at a big 22.5% rental discount!
2 Bedroom/ 1 Bathroom/ 38.47 Square Meters @ Only 15,500 THB Per/Month
Whizdom Connect is an elegant project by MQDC; the condo is located in Punnawithi in East Bangkok. Punnawithi is a peaceful Thai neighborhood that offers a quiet community living environment; getting to Central Bangkok is only a 15-minutes BTS ride. Whizdom Connect is located right next to Whizdom 101, a mixed-use complex with an expansive shopping mall.
The property is a classy-modern residence with numerous high-end facilities such as 24-hr security, garden area, sunny pool, fitness center and residents’ lounge.
The property is a “1-Bed Plus” type unit (Master Bedroom and Single Bed), the property is functional with enough space for a couple, a young family or even sharers. The unit is bright, airy with beautiful open views. Usually a 2-Bed (38.47 Sqm) type unit would rent at 23,000 THB per month, this condo is offered at a 35% rental discount!
Condo One X Sukhumvit 26
1 Bed/ 1 Bath/ 50 Square Meters @ Only 15,000 THB Per/Month
Condo One X Sukhumvit 26 is a well-located and incredibly convenient project in the heart of trendy and super-prime Phrom Phong. The Phrom Phong neighborhood is a vibrant area with an eclectic lifestyle and plenty of hip hangout spots (I.e. Emquartier, Emporium, K-Village) making it ideal for working professionals and young families.
Condo One X Sukhumvit 26 is a well-managed condo with a full set of services such as 24-hr security, handymen and management office. The residence also offers numerous facilities notably a large sunny pool, sunbathing area and gym.
The condo unit offers a spacious 50 square meters of living space, a large master bedroom and plenty of storage. Condo units of this type and size normally rent for about 24,000 THB per month so this condo is at a 37% rental discount!
…As the Saying Goes “Every Cloud has a Silver Lining”.
Economic conditions might be tough and there is a lot of uncertainty, however now is a great time to get some good rental deals. Fresh Property believes this situation is only temporary and hopefully things will get back to relative normalcy going into July- August’21.
If you are looking to relocate to Bangkok or you are looking for a new rental condo, feel free to contact our company. Fresh Property is a full-scope real estate agency with a large selection of condos, apartments and houses!