Why similar condos can have very different values.
Size and price per square meter are only starting points. Two condos—even in the same building—can offer very different living quality and market appeal.
What determines the basic value of a Bangkok condo?
Before considering renovation, establish a Base Condo Value from comparable transactions and the factors below. The stars are an indicative editorial guide to importance, not a valuation formula.
| Factor | Importance | Typical effect |
|---|---|---|
| Location / neighborhood | ★★★★★ | Extremely high |
| Distance to BTS/MRT | ★★★★★ | Extremely high |
| Building / project reputation | ★★★★★ | Very high |
| Actual transactions in same building | ★★★★★ | Best price benchmark |
| Age + condition of building | ★★★★ | High |
| Unit size | ★★★★ | High; larger older units often have lower ฿/sqm |
| Floor | ★★★ | Higher usually better, but not always |
| View / openness | ★★★★ | Can create major premium |
| Orientation / heat / direct sun | ★★★ | Relevant in Bangkok |
| Corner unit / number of external walls | ★★★ | More windows can be valuable |
| Ceiling height | ★★★ | Particularly important for premium/older condos |
| Balcony / usable outdoor area | ★★★ | Increasingly differentiating |
| Parking entitlement | ★★★ | Important in larger/high-end units |
| Foreign quota availability | ★★★ | Important to foreign resale market |
| Building management / common areas | ★★★★ | Can limit achievable price |
| Maintenance fee / sinking fund / financial health | ★★★ | Buyer consideration |
| Facilities | ★★★ | Pool, gym, security, etc. |
Location comes first.
- Look beyond the address: consider BTS/MRT access, daily journeys, schools, shops and restaurants.
- Nearby buildings can command very different prices. Compare the project and unit, not just the neighborhood.
The building matters.
- Check management, common areas, security, parking and the condominium’s financial health.
- Older buildings may offer generous floorplans at lower prices per square meter. Building condition can still limit the price achievable after renovation.
Size changes the price per square meter.
- A 45 sqm one-bedroom and a 180 sqm three-bedroom are not directly comparable.
- Larger older units often cost less per square meter because the total purchase price is higher.
- Compare recent transactions for similar sizes and unit types before judging whether a condo is good value.
Floor, view and orientation.
- An open view can matter more than the floor number.
- Corner units can offer more windows, daylight and cross ventilation.
- West-facing glazing can increase afternoon heat; assess comfort as well as the view.
Ceiling height and natural light.
Generous ceilings, large windows and good proportions are difficult to add later. They can make an older apartment especially promising for renovation.
The floorplan.
- Long corridors, awkward corners and poorly placed bathrooms consume usable space.
- A good layout turns the same floor area into better rooms, storage and circulation.
Square meters tell you how much space you’re buying. The floorplan tells you how much of it you can actually use.
The condition of the unit.
Fresh finishes can improve saleability, but the greatest opportunity may be functional: a better kitchen position, another usable room, proper laundry and storage, or improved acoustics.
Next: What Can Renovation Actually Change?
Explore which changes can improve a condo—and where an expensive upgrade may add little.
Written for CondoGuru by regroup architecture.