Why is rental houses/condo so expensive here in thailand

big frank wrote:

my wife and i have been in and out of chaing mai for 5 yrs--i want someone to answer a question for me--why is rental houses/condo so expensive here in thailand--where a thai school teacher makes less than  $300 per month and the properties here are over built well over 40% of need--not trying to be a smart a-- in any way--just would like to understand this madness ---await a response- thanks    Big Frank

There are two markets, one for wealthy type people meaning expats or Thai and the other is local.
Locals do not look on forums for renting or anything else. They use local contacts for most things, shop at markets etc, do not need all the mod cons that westerners expect and take for granted. There are often 2 or more family members working who contribute to the monthly living costs.

As far as the housing market goes it seems that developers jump on the bandwagon as more and more expats move into Thailand but there is an over supply and if the bubble bursts there will be plenty of half built structures around.
Hope that partly answers your query.

Hi big frank,

I have created a new topic with your post on the Thailand forum for more visibility.

Thanks

Priscilla 

thank you for the info--it seems we need to train/educate these other people (expats) to learn how to negotiate when it comes to housing as this seems to be the real problem here and makes it spoil the market and the thai people think everyone should pay this and they do not seem to understand price and demand--just my take--again thanks   Big Frank

big frank wrote:

my wife and i have been in and out of chaing mai for 5 yrs--i want someone to answer a question for me--why is rental houses/condo so expensive here in thailand--where a thai school teacher makes less than  $300 per month and the properties here are over built well over 40% of need--not trying to be a smart a-- in any way--just would like to understand this madness ---await a response- thanks    Big Frank

It isn't expensive, or at least not away from the "tourist expat" areas.

I pay 3500 baht a month for a modern two bedroom detached house with two bathrooms and a large garden in the countryside.

How did I find it........not through an agent....... a tour of the area we wanted to live looking for "too rent" signs and speaking to locals found us our current home.

Most Thais do not use an agent,  a locally made sign or just word of mouth is the local way.

BTW my wife is a retired Thai teacher who was earning a lot more than $300(US) a month when she worked, several friends I have are senior Thai teachers and they earn upwards of 30,000 Baht a month.