Do you intend to purchase a house in Chiang Mai? You decide to buy a house in Chiang Mai as a vacation home, or a secondary residence as you move with your family, or even for investment purposes. Deciding to buy a house is a daunting task but very rewarding in the end.

However, before choosing, you should be aware of the variety of homes served in the Northern province of Thailand, the old-capital city which is Chiang Mai.

We recommend three vacation homes in Chiang Mai that are ideal for families or couples who love the outdoors, nature, and adventure. Chiang Mai real estate is especially wise to invest for passive income because of 4-5% annual gross rental yields. Secondly is the surrounding atmosphere in Chiang Mai which is calming, with a slight cold breeze flowing through the air all year long.

Get To Know Chiang Mai

Chiang Mai is the capital of mountainous northern Thailand and was founded in 1296. The province of Chiang Mai was from The Lanna Kingdom, which comprised parts of present-day Myanmar and Laos. It is built around the Old City region and still has elements of the old wall and canal from when it was a religious and cultural hub. It makes Chiang Mai have the charm of an ancient city with modern attractive characters.

Furthermore, you will quickly find yourself in the verdant green countryside and rainforests lined with roaring waterfalls, and tranquil small villages while driving in and around the city of Chiang Mai. Chiang Mai's old charm and cultural identify boast the tourist attractions by locals and expats alike visiting and even staying in the province. Reported on Bangkok Post, during the 3 quarter of 2022 around 4 million people visited Chiang Mai boasting around 25 billion baht in revenue in a tourism-related income.

These are reasons why Chiang Mai real estate is worth investing in because its identity appeals to home buyers who are searching for a house in Chiang Mai, to settle down effortlessly in a calm and relaxing atmosphere, but also because of tourist related investment income. Locals alike and expats are quickly realizing the slower pace of life combining with modern facilities is making Chiang Mai very attractive. As such Chiang Mai is quickling becoming a digital nomad paradise in 2023. They're fully equipped in one city because they contain; a city lifestyle with many places to relax, cultural sites to explore, and beautiful green nature for your adventure instinct to go. You get to know a bit of the history of Chiang Mai, not let's get to why you should buy a house in Chiang Mai for investment reasons.

Buying Chiang Mai Vacation home

For those searching for a vacation home with investment potential, several developers offer guaranteed returns on new properties, including time allocated for you to stay there. There are many expat who comes to buy Chiang Mai houses from; Americans, Australians, Hong Kong natives, and Singaporeans are top homebuyers in Chiang Mai. With Americans taking a majority of 25% market share in Chiang Mai Real Estate.

People from those countries search for homes in Chiang Mai 66.17% of the period from January to September 2021. Presently, with new developments in Chiang Mai, the listed countries search for Chiang Mai houses amounted to 42.16% how homebuyers are lured to purchase a vacation home in Chiang Mai.

Three Vacation Homes in Chiang Mai

House in Mae Rim

House in Mae Rim

Popular Chiang Mai vacation home is easy to find in Mae Rim district. Homes in Mae Rim are worth investing in due to their ability for a gross rental yield of 6%. You gain a vacation lifestyle there because Mae Rim is the best for holiday with their lush nature and nearby Mon Jam. Mon Jam is a stunning viewpoint where you can take photos with flower and strawberry fields. Houses nearby Mon Jam are cozy, warm, and beautiful stand-alone houses which are suitable for vacation homes. The house we recommend is Summit Green Valley, which fully represents Mae Rim environment perfectly.

Summit Green Valley is in Mae Rim which is a popular region in Chiang Mai. Summit Green Valley is a house for sale providing you with 3-5 bedrooms across 2 floors. There is also a garden view and lake view from the bedroom window. The project is located nearby convenience facilities and tourist attractions, you can drive within a short distance to Mae Rim market and buy local food and drinks there.

House in Old Town Chiang Mai

House in Old Town Chiang Mai

The vacation home in old town Chiang Mai we recommend is Yellow Pillow House. This house is worth investing in because of its gross rental yields and pleasant environment for quality of life.

The project starting price is 27.5M THB and have suggested a rental price of 8.5K - 125K. So, your gross rental yields average around 5.4% annually. The project is not only good for your investment but also provides a quality of living: fresh air, a cafe nearby, and being close to Chiang Mai University and able to drive just 10 minutes to the city center. Yellow Pillow House is attractive because of their design and pleasant atmosphere. The project design is interesting, due to its combination of Japanese farm home-stay structure and decoration combining industrial design. This vacation house used to be 3-star hotel in Chiang Mai. Thus, the project design is for a relaxing atmosphere. Inside the project contains 7 bedrooms across 2 floors. Additionally, the highlight of your home at Yellow Pillow House is the attic for stargazing with your love ones.

House in Mae Kam Pong

House in Mae Kam Pong

House in Mae Kampong is a must for real estate investors because you can earn up to 5% gross rental yield from a year's rent. The project is a beautiful home top of the mountain with a view of Huai Kaeo, Mae On, Chiang Mai. You can spend your vacation time at a home and appreciate the mountain view and garden in surrounding areas. It’s a beautiful home full of nature, spacious balconies to view the beautiful mountain top of Chiang Mai, and providing you with the air of relaxation. There are local eateries and hot springs dotted along the mountain and hills near your home. For adventure activities, there are motorbike rentals and ATV rides available nearby your vacation home.

This vacation house not only provides a good environment for wellness living but also is a wise investment to expand your portfolio. Lastly, the house in Mae Kampong strength is being a standalone house so it is full of privacy to spend time with your family.

How's Chiang Mai Home Benefits Your Passive Income

Chiang Mai real estate is a worthy investment for many reasons. First of all, their annual gross rental yields are in the upper 4-5% average gross profits in each region. Making a decision to buy a house in Chiang Mai expands your passive income by providing you a safe asset in Thailand. Buying a house in Chiang Mai is investing in a perfect vacation and being able to earn passive income but its for you to relax with your family and friends in one of the most calming and peaceful city can be found in Thailand.

References:

• 66 Property

• Bangkok Post

• City Life Chiang Mai

• Fazwaz

• The Thaiger