Renting in an Old versus New Building

Bangkok has an unprecedented choice when looking for a property to rent. The market is awash with options from standalone houses to community-style living in a compound or a condominium or apartment building.

There are low rise blocks with a dozen or so units and sky-high vertical living offering incredible views across the metropolis. Generally, as a tenant, you have the pick of the bunch, although popular and well-managed buildings might have a waiting list.

There is a desire in Asia for newness whether this is the latest smartphone, car, or home. Consequently, demand lies for brand new units or ones that are less than a few years old meaning there is less appetite for older buildings. However, these should not be discounted as despite lacking the flashiness of a newer building but they do offer other advantages.

Typically older buildings in Bangkok are considered anything over 20 years old. They tend to be easily identifiable due to a similar construction style with a white painted exterior compared to the modern construction materials and techniques of newer buildings.

One of the main advantages of an older building is space as they built when land prices were lower. Units are at least 50 percent bigger than a unit in a new building of the same rent. Therefore older buildings are more affordable too.

Units in older buildings can come refurbished, therefore might have comparable interiors to units in a new building. However, newer buildings are more likely to have the latest facilities such as co-working spaces and lounges compensating for the lack of space in the unit.

However, due to higher land prices, these facilities will often be packed in across the building and are less likely to include facilities needing more space such as tennis courts and basketball courts that older buildings have.

The only way to determine whether a new or old building suits your needs to have a look around and compare buildings in a similar area. Some older buildings have low ceilings giving a dark feeling while newer buildings are designed with modern methods including higher ceiling heights giving the illusion of space.

Older buildings are more likely to have more spacious terraces and balconies while a newer building will have the latest interior trends. Ultimately the decision is based on budget and personal preferences.

Lastly, a building is only as good as the management team behind it. The success of older buildings lies with proactive management who maintain it to high-level keeping tenants happy and demand for the units high.