Chiang Mai is the largest and most culturally significant city in Northern Thailand. Its historic importance is derived from its close proximity to the Ping River and major trading routes date back over 700 years to the Lanna period. Only 800 km from Bangkok, it is home to hundreds of Buddhist temples and almost 70 per cent of the province is covered by lush forests and mountains. The reverence for this history, combined with a mountainside setting explain why it is often regarded as a treasure-trove of natural beauty.
With an average temperature of around 77 F during the cool season, Chiang Mai sees some of the country’s best weather. And here you have access to all of the modern conveniences and comforts of daily life, at some of the most reasonable prices in Thailand. You’ll find vast dining options, modern movie theaters, shopping malls, as well as a JCI-accredited hospital offering quality, affordable medical care.
While the property industry in Chiang Mai is much smaller than in Bangkok or Pattaya, yet its emergent nature provides many good-value opportunities for individual buyers or larger scale investment. The biggest growth in Chiang Mai real estate from an investing perspective is the emergence of a luxury condominium sector. Initial developers had success based on the burgeoning numbers of foreigner retirees settling in Chiang Mai and those purchasing a holiday home. The most sought-after projects in Chiang Mai are the buildings along the riverfront by Thai’s leasing developers, which retain their value. New, modern, upmarket condominiums are now being located outside the centre, in the trendy Nimmanhaemin area or the leafy Chan Khian area.