Monthly Costs Chiang Mai Condo Owners Must Know — From Common Fees to Land and Building Tax

Monthly Costs Chiang Mai Condo Owners Must Know — From Common Fees to Land and Building Tax

Many people buy condos thinking only about the mortgage payment — but there are other recurring costs that need to be fully budgeted.

Regular Monthly Costs

1. Common Fee (Management Fee): Calculated as room size (sqm) × rate per sqm.
Chiang Mai rates: Basic projects (no pool): THB 20-35/sqm/month; Standard projects (pool, gym): THB 35-55/sqm/month; Premium projects (full amenities): THB 55-80+/sqm/month.
Example: 35 sqm room at THB 45/sqm = THB 1,575/month.

2. Electricity: Studio single-occupancy THB 500-1,500/month; 1-2 bedroom THB 800-3,000/month (depends heavily on AC use).

3. Water: Typically THB 100-300/month.

4. Internet: Fiber Internet in Chiang Mai THB 400-700/month.

Annual Costs

5. Land and Building Tax: Rental properties 0.3-0.7% of appraised value; primary residence typically below the tax threshold (appraised value under THB 50M). Example: THB 2,000,000 appraised value, rented, at 0.3% = THB 6,000/year = THB 500/month averaged.

6. Fire insurance: THB 1,500-4,000/year = THB 125-333/month averaged.

7. Repairs and maintenance reserve: 0.5-1% of property value per year. For a THB 2,000,000 condo: reserve THB 10,000-20,000/year = THB 833-1,667/month averaged.

Real Monthly Cost Summary (Example)

35 sqm condo, THB 2,000,000 value, rented out:
Common fee THB 1,575 + electricity (if vacant) THB 800 + water THB 150 + internet THB 500 + land tax average THB 500 + insurance average THB 200 + repair reserve THB 1,000 = Total owner costs approximately THB 4,725/month

If renting at THB 10,000/month: Net from rent = THB 10,000 - THB 4,725 = THB 5,275/month (before mortgage payment).

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