A new condo offers recent facilities and a developer warranty, but is often sold off-plan with a delay and some uncertainty. A resale condo can be viewed as it is, with a management track record and an established neighbourhood. To compare, look at price per square metre, common fees, quality of management, availability in the foreign quota and the real cost of refurbishment.
Bangkok has a large supply of condos: new projects sold off-plan, recently completed buildings, and blocks that are ten or twenty years old. For a foreign buyer, the question "new or resale?" comes up almost every time. There is no universal answer: it depends on your time horizon, your use (living, renting, reselling) and your tolerance for delays. This guide offers a simple method to compare two properties honestly.
Before going into detail, remember that a condo purchase by a foreigner follows rules specific to Thailand, in particular the foreign ownership quota in each building. Our guide Buying a condo in Thailand as a foreigner presents these general rules; they must always be checked for your situation with a legal professional.
1.The three situations you will encounter
- New, off-plan: you reserve, then pay in instalments during construction, and ownership is transferred at completion.
- New, completed, sold by the developer: remaining units in a finished building that you can view.
- Resale: an apartment sold by an individual or investor, in a building already lived in.
Each situation has its advantages and points to watch.
2.What new brings, and what it requires
The strengths of new buildings are real: recent common facilities (pool, gym, co-working areas), modern technical installations, up-to-date finishes, and a developer warranty on certain defects for a period set in the contract. Developers sometimes also offer commercial terms (furniture packages, fees covered) that should be read carefully.
In return, buying off-plan means accepting:
- a delay between reservation and handover, which can lengthen;
- some uncertainty: the final finish, the actual view, the surroundings once neighbouring buildings go up;
- an often higher price per square metre than comparable resale units in the same area;
- a settling-in period: in the first years, the building management organises itself and construction snags may need fixing.
3.What resale brings, and what it requires
Resale has a decisive advantage: you see exactly what you are buying. View, light, noise, quality of management and the atmosphere of the building can all be checked. The neighbourhood is established, shops are there, and there is a track record: level of fees, meeting decisions, works carried out.
The points to watch are different:
- technical condition: air conditioning, plumbing, windows, bathroom;
- age of common facilities and major works ahead (lifts, façade, pool);
- the financial health of the building: reserves, unpaid fees, sinking fund;
- refurbishment costs if the interior is dated.
4.Comparing two properties: the grid we use
To put two condos side by side, we always look at the same criteria.
| Criterion | What to look at |
|---|---|
| Price per sq m | Asking price divided by size; compare within the same area |
| Common fees | Annual amount, what it covers, trend |
| Sinking fund | Whether there is one and the amount required at purchase |
| Management | Responsiveness of the building office, cleanliness, security |
| Foreign quota | Availability for a purchase in a foreigner's name |
| Transport | Actual walking distance to the BTS or MRT |
| Refurbishment | Budget for works and furniture |
| Resale or rental | Demand in the building, number of similar units on offer |
Price per square metre alone is misleading: a cheaper resale unit may need works, a more expensive new one may rent more easily. It is the whole grid that supports the decision.
5.Common fees and the sinking fund
Each condo is run by a condominium entity ("juristic person") that maintains common areas and facilities. Fees are generally calculated per square metre and paid in advance for a period set by the building rules. At purchase, particularly for new units, a contribution to the sinking fund is often required.
For each property you compare, always ask for:
- the amount of the fees and what they cover;
- the sinking fund amount required;
- confirmation that the seller is up to date with fees (essential for the transfer).
6.The foreign quota: check it early
In a condominium building, the share of floor area that can be owned by foreigners is limited. In a popular building the quota can be full: buying in a foreigner's name is then no longer possible for that unit, even if it is for sale. This check is made with the building office and should happen before any commitment. Precise conditions (and structures to avoid) should be confirmed with a lawyer.
7.Living, renting or reselling: the right choice depends on use
- To live in: a well-located resale unit in a well-managed building often offers more space for the same budget.
- To rent out: expat tenants like recent buildings close to stations; a well-placed new unit or a renovated resale unit can both work.
- To resell: competition from new projects in the same area weighs on resale; check how many comparable units are already on offer.
8.Questions to ask during the viewing
Whether the unit is new or resale, a few questions allow a fair comparison: when was the building completed? What share of units is owner-occupied and what share is rented? Are major works planned or approved? How are complaints handled? How many comparable units are currently for sale or rent in the building? The answers, combined with the grid above, often give a truer picture than the brochure or listing.
9.How we help
The Find Easy team can organise viewings, gather building information, check availability in the foreign quota and put you in touch with independent legal professionals for legal checks. We present the figures in a comparable way so that the decision is yours, made with full information.
Frequently asked questions
Is a new condo always more expensive than a resale one?
Often per square metre in the same area, but not always. Compare like for like on facilities and location, adding fees and any works needed for the resale unit.
Can I buy off-plan from abroad?
It is possible, but read the reservation contract and payment terms carefully and have the documents checked by a legal professional before committing.
How do I know if the foreign quota is still available?
The check is made with the building office for the specific unit. We can request it for you before any offer.
What is the sinking fund?
It is the building's reserve fund for major future expenses. An amount is often required at purchase, especially for new units; it should be stated before signing.
General information updated on 10 October 2026; check your contract and with the Find Easy team.
