Where to buy a condo to rent out in Bangkok, measured by real returns

Key Highlights

• Average condo rental yield in Bangkok sits at roughly 4 to 6 percent a year, according to myproperty.in.th published on 3 June 2026
• Outer transit areas clearly out-yield the central districts. On Nut, Udom Suk, Lat Phrao, and Bang Na run at roughly 4.0 to 5.9 percent gross, while Phloen Chit and Chidlom sit at roughly 2.7 to 3.7 percent, according to bambooroutes.com updated on 8 May 2026
• The PropertyScout Rental Yield guide suggests targeting 6 to 8 percent a year, and 2 to 3 percent above your loan rate if you borrow. That is a target to aim at, not the figure most units actually deliver
• The number that moves the result most is the interest rate after year 3, which steps up from a promotional 2.55 to 3.55 percent to an MRR reference of 6.045 to 7.105 percent, per the AP Thai comparison updated on 2 July 2026
• Foreign buyers work from different arithmetic. Loan to value is typically 50 to 70 percent at 5 to 8 percent interest, and the 0.01 percent transfer fee reduction does not apply to them

Why is choosing a rental area harder than it looks?

Ask which Bangkok area is best if you plan to buy a condo to rent out, and most answers come back as a list of neighbourhood names. That answer is incomplete. Your return depends on the price you actually pay, the rent your specific unit can command in your specific building, and how many months it sits empty between tenants. Two units on different floors of the same tower can produce very different numbers.

What is useful instead is to see where the 2026 data sources agree, then run your own unit through the same formula so you can compare it against those reference figures. This article does both. The first half is where the numbers converge. The second half is the arithmetic you can apply yourself.

Where do the 2026 datasets agree returns are highest?

We compared two datasets collected by different methods at different times. The first is the report on the highest yielding rental areas in Bangkok from myproperty.in.th, published on 3 June 2026. The second is the set of gross yields by area and bedroom count from bambooroutes.com, updated on 8 May 2026. The three groups below are where both point the same way.

Group 1 Rangsit and Thammasat Rangsit campus

myproperty.in.th puts this area at 6 to 7 percent a year, the highest band in that report. The logic is simple. Unit prices are far below inner city levels while rents are held up by student demand that renews every academic year.

The trade off is that the leasing cycle follows the academic calendar. Units tend to empty out together during term breaks, and this tenant group is highly price sensitive. A rent increase of a few hundred baht can be enough for them to move.

Group 2 On Nut, Udom Suk, Lat Phrao, and Bang Na

This is where the two datasets line up most closely. bambooroutes.com puts On Nut at 4.4 percent gross for a studio, 5.0 percent for a one bedroom, and 5.9 percent for a two bedroom. Udom Suk and Lat Phrao fall between 4.0 and 5.7 percent. myproperty.in.th puts Bang Na and Bang Phli at 5 to 6 percent.

What these areas share is a position on a rail line with a commute tenants will accept, at unit prices still below the inner districts. Tenants here are working professionals who need to reach an office, so leases tend to run longer than in student areas.

Group 3 Rama 9, Huai Khwang, and Ratchada

myproperty.in.th puts Rama 9 and Huai Khwang at 5 to 6 percent. bambooroutes.com puts Rama 9 and Ratchada at 3.9 percent gross for a studio, 4.8 percent for a one bedroom, and 5.2 percent for a two bedroom. The two sets differ somewhat, which is normal given that they draw area boundaries and collect rents differently, but both place the area above the city average.

What separates this group from the first two is the width of the tenant base. It draws office staff from Ratchada, people working in the towers around the stations, and a share of foreign tenants. That width matters when the market slows, because you are not dependent on one group.

How are the returns in this report calculated?

Before reading the area figures, it helps to know that most numbers published online are gross yields rather than net. The gap between the two is wide enough to change whether a purchase makes sense.

How the gross yield and net yield formulas differ

The PropertyScout Rental Yield guide sets out three formulas. Gross yield takes annual rent before expenses, multiplies by 100, and divides by the unit price. Net yield deducts holding costs from annual rent first, then divides by the unit price. Cash on cash return applies when you borrow. It deducts both expenses and mortgage payments from rent, then divides by the cash you actually put in at purchase.

Put numbers to it. A 35 square metre unit priced at 3,000,000 baht rents at 12,000 baht a month. Annual rent is 144,000 baht, so the gross yield is 4.8 percent. That figure is simply the ratio of rent to price, which makes it the easiest number to compare across areas.

The expenses to deduct and the vacancy rate to assume

Using the same example, common area fees in the market run from roughly 23 to 75 baht per square metre per month. At a mid range 50 baht, a 35 square metre unit pays 1,750 baht a month, or 21,000 baht a year. Land and building tax on a property that is not your main residence starts from the first baht at 0.02 percent, which is 600 baht a year on a 3,000,000 baht base.

Vacancy is the item most often skipped. The 2026 Thai rental market report from liveinrent.com puts the overall Bangkok vacancy rate at 8 to 12 percent, and premium areas such as Thong Lo, Sathorn, and Phrom Phong at 5 to 8 percent. Assuming one empty month a year removes 8.3 percent of rent straight away.

Put those three together and collected rent falls to roughly 132,000 baht. Deduct 21,600 baht for common area fees and tax and you are left with 110,400 baht, which is a net yield of roughly 3.7 percent against a gross yield of 4.8 percent. That gap of more than a full point is why the figure on a sales brochure never matches the figure in your bank account.

Gross yields area by area

The figures below come from bambooroutes.com, updated on 8 May 2026. They are gross yields, before expenses and before any vacancy assumption. Every area uses the same set of sub points so you can read them against each other. These are historical market reference figures and not a promise that your own unit will return the same.

On Nut

On Nut is where a lot of city workers land when they want a shorter commute without inner Sukhumvit pricing. If you are weighing up condos for sale in On Nut, the larger layouts are the ones doing the heavy lifting on yield here.

• Studio gross yield: 4.4 percent
• One bedroom gross yield: 5.0 percent
• Two bedroom gross yield: 5.9 percent
• Worth noting: The highest two bedroom yield in this dataset. Suits couples and flatshare tenants

Udom Suk

• Studio gross yield: 4.2 percent
• One bedroom gross yield: 5.0 percent
• Two bedroom gross yield: 5.7 percent
• Worth noting: Unit prices still trail the inner stations on the same line, at the cost of a longer commute

Lat Phrao

Lat Phrao sits where two rail lines meet, so a tenant can reach the northern suburbs and the central business district without falling back on a bus. Buyers looking at condos for sale in Lat Phrao are trading a longer commute for unit prices that still sit below the inner stations.

• Studio gross yield: 4.0 percent
• One bedroom gross yield: 5.0 percent
• Two bedroom gross yield: 5.7 percent
• Worth noting: An interchange between two rail lines, so the tenant base is wider than at an end of line station

Bang Na

Bang Na draws tenants from the industrial estates to the east and from the airport corridor, which is why leases here tend to run long. Anyone shortlisting condos for sale in Bang Na is buying into a tenant base that does not turn over every twelve months.

• Studio gross yield: 4.1 percent
• One bedroom gross yield: 5.0 percent
• Two bedroom gross yield: 5.5 percent
• Worth noting: Draws tenants from the industrial estates and Suvarnabhumi airport, and leases tend to run long

Phra Khanong

• Studio gross yield: 4.0 percent
• One bedroom gross yield: 4.8 percent
• Two bedroom gross yield: 5.4 percent
• Worth noting: Sits beside the inner districts at lower prices, and picks up tenants moving out of Thong Lo and Ekkamai

Ekkamai

Ekkamai carries a strong reputation with renters, and that reputation shows up in the rent and in the price you pay to get in. Before you commit to condos for sale in Ekkamai, check that the rent premium is wide enough to cover the higher entry price.

• Studio gross yield: 3.9 percent
• One bedroom gross yield: 4.6 percent
• Two bedroom gross yield: 5.3 percent
• Worth noting: Rents follow the reputation of the area, but so do unit prices

Rama 9 and Ratchada

Rama 9 and Ratchada mix office towers, shopping and a large foreign tenant pool, so demand holds steady across unit sizes. Buyers scanning condos for sale in Rama 9 are looking at one of the widest tenant bases in this list.

• Studio gross yield: 3.9 percent
• One bedroom gross yield: 4.8 percent
• Two bedroom gross yield: 5.2 percent
• Worth noting: One of the widest tenant bases, mixing office staff and foreign renters

Phaya Thai and Victory Monument

Phaya Thai and Victory Monument sit on an interchange next to major hospitals, which puts medical staff and students into the tenant pool alongside office workers. That mix is what makes condos for sale in Phaya Thai easier to keep occupied through the year.

• Studio gross yield: 3.9 percent
• One bedroom gross yield: 4.5 percent
• Two bedroom gross yield: 5.0 percent
• Worth noting: An interchange near major hospitals, so tenants include medical staff and students

Ari

• Studio gross yield: 3.7 percent
• One bedroom gross yield: 4.1 percent
• Two bedroom gross yield: 4.8 percent
• Worth noting: New supply is limited, which keeps rents steady, but entry prices are high

Sathorn and Silom

Sathorn and Silom form the office core of the city, and rents hold up well because new supply is limited. The catch with condos for sale in Silom is that entry prices sit proportionally higher than rents, so the gross yield lands below the outer stations.

• Studio gross yield: 3.4 percent
• One bedroom gross yield: 4.1 percent
• Two bedroom gross yield: 4.6 percent
• Worth noting: An office district where rents are high and unit prices are proportionally higher

Thong Lo

Thong Lo keeps vacancy below the city average because tenants want to be here, not because units are inexpensive. If you are looking at condos for sale in Thong Lo, expect a faster search for tenants and a lower gross yield than the outer areas.

• Studio gross yield: 3.4 percent
• One bedroom gross yield: 4.0 percent
• Two bedroom gross yield: 4.5 percent
• Worth noting: Vacancy runs below the city average, but gross yield sits clearly below the outer areas

Phrom Phong

Phrom Phong is the stretch of Sukhumvit that foreign families settle into, which usually means longer leases and better care of the unit. Buyers comparing condos for sale in Phrom Phong are paying for tenant quality rather than headline yield.

• Studio gross yield: 3.4 percent
• One bedroom gross yield: 3.9 percent
• Two bedroom gross yield: 4.2 percent
• Worth noting: Mostly foreign family tenants, with longer leases and better care of the unit

Asok

Asok joins the BTS and the MRT in one place, so a unit here reaches most of the city without a transfer. That is why condos for sale in Asok are among the quickest to fill, traded against a return that sits below the outer stations.

• Studio gross yield: 3.3 percent
• One bedroom gross yield: 3.8 percent
• Two bedroom gross yield: 4.4 percent
• Worth noting: Among the easiest places to find a tenant quickly, traded against a lower return

Riverside

• Studio gross yield: 3.2 percent
• One bedroom gross yield: 3.7 percent
• Two bedroom gross yield: 4.3 percent
• Worth noting: Price per square metre is lifted by the view and position, while rents do not rise in the same proportion

Phloen Chit and Chidlom

Phloen Chit and Chidlom are the addresses buyers choose when the plan is to hold value over the long run. Anyone looking at condos for sale in Phloen Chit should budget around capital preservation, because rents do not climb in step with the price per square metre here.

• Studio gross yield: 2.7 percent
• One bedroom gross yield: 3.3 percent
• Two bedroom gross yield: 3.7 percent
• Worth noting: The lowest in this dataset. Buyers here are usually thinking about capital preservation rather than cash flow

One pattern in this dataset runs against common assumptions. Two bedroom units out yield studios in every area listed, by roughly 1 to 1.5 points. The reason is that price per square metre is usually lower on larger units while rent still scales reasonably well with floor area.

Which areas offer high returns with matching risk?

A high gross yield does not automatically mean a better investment. High figures usually carry risks the formula does not show.

New supply entering the market and the vacancy rate

The outer areas that yield well are usually the ones with land left to develop, which means new units keep arriving. When supply grows faster than demand, tenants gain options and rents stall. The liveinrent.com report puts standard condo rent growth at 2 to 4 percent year on year, with premium furnished units at 3 to 6 percent.

The way to check before buying is to walk a one kilometre radius around the building, count the active construction sites, and ask those sales teams which year they hand over. If several thousand new units land in the same year you start letting, set your vacancy assumption above the average.

Areas that depend on a single tenant group

University areas depend on students. Areas beside industrial estates depend on factory staff. When that one group stalls, units across the whole area empty together. Before deciding, ask yourself who else would rent this unit if half of the main tenant group disappeared.

Which units in those areas actually rent out?

You can pick the right area and still pick the wrong unit. The units that sit empty tend to share a few traits.

Unit size and bedroom count

The one bedroom rental market in Bangkok carries more competition than the two bedroom market. Your unit needs something that sets it apart to get picked.

Ministerial Regulation No. 55 of 2000 sets a minimum of 20 square metres for a residential unit in a multi unit building, and a minimum of 8 square metres for a bedroom with the narrowest side at no less than 2.50 metres. Units sitting right at those minimums are harder to let once similar options exist at a close price.

Floor, orientation, and furnishing

West facing units take the full afternoon sun year round, because the sun tracks south from September to April and slightly north from May to August. Tenants who are home in the afternoon feel it in the electricity bill. Low floor units facing a main road usually attract a rent negotiation over noise.

On furnishing, the liveinrent.com data shows premium furnished units achieving 3 to 6 percent annual rent growth against 2 to 4 percent for standard condos. Spending on furniture and appliances affects both the rent you can ask and how long the unit stays empty.

Which costs do first time investors forget?

The items below rarely appear in the yield formulas published online, but every landlord meets them.

Cost item	Detail
Interest after year 3	Promotional rates average 2.55 to 3.55 percent a year across the eight banks in the AP Thai comparison updated on 2 July 2026. After that the loan moves to an MRR reference of 6.045 to 7.105 percent a year, and the higher instalment can absorb the whole of your rental cash flow
Specific business tax on resale	3.3 percent of the sale price or the assessed value, whichever is higher, if you have held the unit for less than 5 years. Where an exemption applies, stamp duty of 0.5 percent is paid instead
Land and building tax	A property that is not your main residence is taxed from the first baht at 0.02 percent, which is 600 baht a year on a 3,000,000 baht base
Common area fees while the unit is empty	These continue as normal, and a unit in arrears cannot be transferred until a debt free certificate is issued
Repairs and replacements between tenants	Air conditioners, water heaters, and washing machines are the three items that fail most often and fall to the owner
Agency and marketing costs	Set by agreement, and they recur every time the tenant changes

Working in the other direction, the Cabinet resolution of 30 June 2026 extended the reduction of the transfer registration fee from 2 percent to 0.01 percent and the mortgage registration fee from 1 percent to 0.01 percent until 30 June 2027. It is capped at a sale price and assessed value of no more than 7 million baht per contract, applies to individual buyers of Thai nationality, and requires the transfer and mortgage to be registered together. On the 3,000,000 baht example with a 2,700,000 baht loan, total fees come to 570 baht against 87,000 baht at the standard rates.

On loan size, the Bank of Thailand announced on 14 May 2026 that the relaxed loan to value rules allowing lending up to 100 percent of the collateral value continue from 1 July 2026 to 30 June 2027. That is a regulatory ceiling rather than a sign that every applicant is approved for the full amount.

What two extra points apply only to foreign buyers?

The arithmetic above assumes a Thai buyer. If you are buying as a foreigner, two things change the result materially.

First, financing. According to expatica.com, updated on 2 February 2026, foreign borrowers typically obtain 50 to 70 percent of the property value at rates of roughly 5 to 8 percent over terms of 15 to 30 years. The PropertyScout guide on whether foreigners can get loans in Thailand notes age criteria of 21 to 55 and income in the region of 80,000 to 140,000 baht a month, with UOB lending up to 70 percent over a maximum of 35 years at a minimum income of 140,000 baht. A higher rate and a larger deposit both push your cash on cash return down relative to a Thai buyer looking at the same unit.

Second, purchase costs and ownership. Foreign buyers do not qualify for the 0.01 percent transfer fee reduction, so on the 3,000,000 baht example the standard rates apply. Funds brought in above USD 50,000 need a Foreign Exchange Transaction form from the receiving bank, with the sender name and stated purpose matching the name that will appear on the title. Freehold ownership by foreigners is also limited to 49 percent of a building's total unit area, and older buildings beside major stations often have that quota filled, which means the remaining units may only be available on a leasehold basis. Ask the sales team in writing which basis applies before you place a deposit.

Who is this suited to, and who is not?

Buying a condo to rent out suits someone with enough cash reserve to cover instalments and common area fees for at least six months with no rent coming in. It suits someone who treats the return as long term cash flow rather than a quick resale gain. And it suits someone who accepts they will take a tenant call about a broken air conditioner at nine in the evening.

It does not yet suit someone who needs the rent to cover the instalment in full every month with nothing spare, because an empty month becomes a problem immediately. It also does not suit someone planning to resell within five years, since the 3.3 percent specific business tax absorbs most of what you accumulate over that period.

If you want to start from real numbers, open the Bangkok condos for rent listings on PropertyScout and see how many units like the one you are considering are already on the market and at what asking rent. Then compare against the Bangkok condos for sale listings for current asking prices. The PropertyScout rental yield guide covers the formulas in more detail, the guide on loans for foreigners in Thailand covers financing, and the guide to the 49 percent foreign ownership quota covers the title question.

Frequently asked questions about buying a condo to rent out

Which Bangkok location gives the best return if you buy a condo to rent out

On the verifiable 2026 data, outer areas along the rail lines produce the highest gross yields. On Nut, Udom Suk, Lat Phrao, and Bang Na run at roughly 4.0 to 5.9 percent according to bambooroutes.com updated on 8 May 2026, while Rangsit and the Thammasat Rangsit campus area sits at 6 to 7 percent according to myproperty.in.th published on 3 June 2026. Central areas such as Phloen Chit and Chidlom sit at 2.7 to 3.7 percent. These are market reference figures rather than a promise of what your unit will earn.

What rental yield counts as worthwhile

The PropertyScout Rental Yield guide suggests aiming for 6 to 8 percent a year, and if you borrow, a return 2 to 3 percent above your loan rate. The Bangkok market average reported by myproperty.in.th is 4 to 6 percent. That gap means 6 to 8 percent is a target you reach by choosing well rather than a typical outcome.

Should you use the gross yield or the net yield

Use the gross yield to screen and to compare areas quickly, then use the net yield to make the decision. In the example used here, a 3,000,000 baht unit renting at 12,000 baht a month shows a gross yield of 4.8 percent, but after common area fees, tax, and one empty month it comes down to roughly 3.7 percent.

Do one bedroom or two bedroom units return more

In the bambooroutes.com dataset, two bedroom units out yield studios in every area reported, by roughly 1 to 1.5 points. They also require more capital per unit and appeal to a narrower tenant group, so read that alongside how many competing units sit in the same area.

What vacancy rate should you assume

The 2026 Thai rental market report from liveinrent.com puts overall Bangkok vacancy at 8 to 12 percent and premium areas at 5 to 8 percent. In practice, assuming one empty month a year, which is 8.3 percent, works for a typical area. Set it higher if new supply is about to hand over nearby.

Summary

In one sentence, the areas that return most are the ones where unit prices still trail rents, and in 2026 that means the outer stations rather than the central districts. The area figures are only a starting point. What decides your actual return is the price you pay, the rent your unit commands, and the months it sits empty.

Three steps you can take now. Pick two or three areas from this article. Look up real asking rents for the same unit type in those areas to establish a comparable rent. Then run the net yield formula with a one month vacancy assumption. If the result still clears your actual loan rate by 2 to 3 percent, the unit is worth looking at further.

Browse verified listings on PropertyScout to compare rents and asking prices in the areas you are considering.

Prices and availability change and are not guaranteed. Property information is general guidance only. This content is not legal, tax, or financial advice. The return figures cited are market reference points from the sources named, not a promise that actual returns will match them.