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The Price Difference Between New York and Bangkok Condos for Rent

Ever wondered how Bangkok condos for rent compare to New York City’s pricey units? Here at Bangkok Condo finder, we’ve decided to compare these two cities’ condos to give you readers a quick comparable viewpoint.

 

For starters, New Yorkers either rent out a condo or a co-op. The former follows the typical arrangements in a high-rise residential unit. A housing cooperative (co-op for short) on the other hand owns the building and its members are called “shareholders” much like your typical shareholders in a company.
 
They are all subject to an occupancy agreement. Most renters prefer to stay in a co-op owing to the huge price difference that they have against apartments in the Big Apple which cost $2,700 for a studio to $6,850 for a 3BR unit. And rents increase year after year by as much as 15 percent. Talk about rent control!
 
To save on their rent, New Yorkers search for roommates. They divide not just the rent but their expenses for utilities and food as well. Every cent counts in NYC indeed.

 

Like in Bangkok, another way to save on rent is to move to areas farther from downtown. Thus, if we have Krung Thonburi and Ratchadaphisek, NYC has Brooklyn, Queens and the Bronx. Some even relocate to Hoboken, New Jersey. The long commute may be a hassle but the lower rent can compensate for that.

 

So how do Bangkok apartments compare with the Big Apple’s posh units? Here’s our latest survey of median prices:

 

Bangkok and New York City Condos for Rent Rates by Size as of 2Q 2011 (Median Prices)

Condo Unit by Size

Bangkok

New York City

Studio

$19 per sq. m.

$61 per sq. m.

1BR

$21 per sq. m.

$60 per sq. m.

2BR

$27 per sq. m.

$54 per sq. m.

3BR

$29 per sq. m.

$50 per sq. m.

Source: www.bangkokcondofinder.com

 

Bangkok’s studio rentals differ by as much as 69 percent with NYC’s while for a 1BR unit, it’s at 65 percent. It’s obvious that New York City’s condo prices are rocket high.

 

Bangkok and New York City Condos for Rent Rates by Area as of 2Q 2011 (Mean Prices)

City

Area

1BR rent per sq. m.

Bangkok

CBD

$22

City Fringe

$20

Suburban

$19

Other

$14

New York City

Downtown

$45

Uptown

$28

East Side

$59

West Side

$53

Source: www.bangkokcondofinder.com

 

aaaaaaaaaaaa - The Price Difference Between New York and Bangkok Condos for Rent

 

Such large price differences are too easy to spot. For the rental price of a 1BR unit in New York’s posh East Side, you can have the lap of luxury in Bangkok’s CBD. Then again, we have to consider a lot of factors why such differences exist. For one, the cost of living inclusive of rent in NYC is more than 130 percent higher than in Bangkok. Another popular method in comparing the cost of living is the Big Mac Index developed by international affairs publication The Economist. In its July 2011 data, the cost of a Big Mac in NYC is $4.07 compared to the same burger in Thailand for only $2.35. What more could you expect for condo rent, right?

big mac comparisation - The Price Difference Between New York and Bangkok Condos for Rent

Locals and tourists in Bangkok can live the same Manhattanite lifestyle albeit there’s much affordability in the picture. If New York has yellow cabs, we got pink, green etc. and even some yellow cabs, plus some tuk-tuks. Bangkok’s version of NYC’s food trucks are replicated in our pushcart and motorcycle bars. And if they’ve got Macy’s and Saks, then Thailand’s capital can match these with its luxury shopping malls.

 

Now that you have a better picture of these two cities, where would you like to settle if there’s an opportunity to choose? Bangkok for me is still incomparable.

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