Authored by the expert who managed and guided the team behind the Thailand Property Pack
Yes, the analysis of Chiang Mai's property market is included in our pack
This is the most complete guide on what apartments actually cost in Chiang Mai in 2026, with real numbers from verified sources.
We cover everything from purchase prices to closing costs, HOA fees, utilities, and property taxes so you can budget properly.
We constantly update this blog post to reflect the latest market data and policy changes in Thailand.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Chiang Mai.
Insights
- The median condo price in Chiang Mai sits around 3 million baht ($87,000), which is roughly 60% cheaper than Bangkok's median, making it one of Thailand's most accessible markets for foreign buyers.
- Foreigners in Chiang Mai typically pay 100% cash for condos because Thai bank financing is hard to get, so most foreign buyers skip the mortgage process entirely.
- The Nimmanhaemin area commands a 40% to 80% premium over Chiang Mai's citywide median price per square meter, yet it remains the most liquid market for resale.
- Thailand's temporary 0.01% transfer fee (normally 2%) runs through June 2026, but foreign buyers should verify eligibility since the reduced rate may not apply to everyone.
- Monthly HOA fees in Chiang Mai condos typically run 35 to 60 baht per square meter, so a 40 square meter one-bedroom costs around 1,400 to 2,400 baht ($40 to $70) per month.
- Electricity is by far the biggest utility expense in Chiang Mai apartments, often 3 to 5 times higher than water bills, especially if you use air conditioning regularly.
- Annual property tax on a 3 million baht Chiang Mai condo is usually just 600 to 1,500 baht ($17 to $43), making Thailand one of the lowest property tax environments in Southeast Asia.
- New-build condos in Chiang Mai typically sell for about 15% more than comparable resale units, though this premium can stretch to 25% in high-demand areas like Nimman.
- Budget-friendly neighborhoods like Mae Hia and San Sai offer prices 30% to 45% below central Chiang Mai, but you will need a scooter or car for daily errands.
How much do apartments really cost in Chiang Mai in 2026?
What's the average and median apartment price in Chiang Mai in 2026?
As of January 2026, the median condo price in Chiang Mai is approximately 3 million baht ($87,000 USD or €81,000 EUR), while the average price runs slightly higher at around 3.4 million baht ($99,000 USD or €92,000 EUR) because larger and luxury units pull the mean upward.
For price per square meter, Chiang Mai's median sits at about 78,000 baht ($2,260 USD or €2,100 EUR), which works out to roughly 7,250 baht ($210 USD or €195 EUR) per square foot.
Most standard apartments in Chiang Mai fall within a price range of 1.7 million to 7 million baht ($49,000 to $203,000 USD or €46,000 to €189,000 EUR), covering everything from older studios on the city outskirts to modern two-bedroom units in popular neighborhoods.
How much is a studio apartment in Chiang Mai in 2026?
As of January 2026, a typical studio apartment in Chiang Mai costs around 2.2 million baht ($64,000 USD or €59,000 EUR), based on the city's median price per square meter applied to standard studio sizes.
Entry-level to mid-range studios in Chiang Mai generally fall between 1.7 million and 2.5 million baht ($49,000 to $72,000 USD or €46,000 to €68,000 EUR), while high-end or luxury studios in areas like Nimmanhaemin can reach 2.8 million to 3.5 million baht ($81,000 to $101,000 USD or €76,000 to €95,000 EUR).
Studio apartments in Chiang Mai are typically 25 to 30 square meters, with 28 square meters being the most common size you will find on the market.
How much is a one-bedroom apartment in Chiang Mai in 2026?
As of January 2026, a typical one-bedroom apartment in Chiang Mai costs around 3.1 million baht ($90,000 USD or €84,000 EUR), making it the most popular category for foreign buyers in this market.
Entry-level to mid-range one-bedroom apartments in Chiang Mai generally range from 2.4 million to 3.5 million baht ($70,000 to $101,000 USD or €65,000 to €95,000 EUR), while high-end or luxury one-bedrooms in prime locations like Nimman or the Old City edge can reach 4.2 million to 5.5 million baht ($122,000 to $159,000 USD or €114,000 to €149,000 EUR).
One-bedroom apartments in Chiang Mai typically measure 35 to 45 square meters, with 40 square meters being the standard size most buyers encounter.
How much is a two-bedroom apartment in Chiang Mai in 2026?
As of January 2026, a typical two-bedroom apartment in Chiang Mai costs around 5.1 million baht ($148,000 USD or €138,000 EUR), which represents a significant step up from one-bedroom pricing.
Entry-level to mid-range two-bedroom apartments in Chiang Mai generally fall between 3.9 million and 5.5 million baht ($113,000 to $159,000 USD or €105,000 to €149,000 EUR), while high-end or luxury two-bedrooms can range from 7 million to 10 million baht ($203,000 to $290,000 USD or €189,000 to €270,000 EUR) in premium buildings.
By the way, you will find much more detailed price ranges for apartments in our property pack covering the property market in Chiang Mai.
How much is a three-bedroom apartment in Chiang Mai in 2026?
As of January 2026, a typical three-bedroom apartment in Chiang Mai costs around 7.4 million baht ($214,000 USD or €200,000 EUR), though supply is thinner than smaller units so prices can vary widely.
Entry-level to mid-range three-bedroom apartments in Chiang Mai generally range from 5.8 million to 8 million baht ($168,000 to $232,000 USD or €157,000 to €216,000 EUR), while high-end or luxury three-bedrooms can reach 11 million to 15 million baht ($319,000 to $435,000 USD or €297,000 to €405,000 EUR) in top buildings.
Three-bedroom apartments in Chiang Mai typically measure 80 to 110 square meters, with around 95 square meters being a common size for this category.
What's the price gap between new and resale apartments in Chiang Mai in 2026?
As of January 2026, new-build condos in Chiang Mai typically command a premium of about 15% over comparable resale units, though this gap can range from 10% to 25% depending on location and building quality.
New-build apartments in Chiang Mai generally price at around 90,000 baht per square meter ($2,610 USD or €2,430 EUR per square meter), reflecting the premium for modern amenities and warranties.
Resale apartments in Chiang Mai typically sell at around 68,000 to 75,000 baht per square meter ($1,970 to $2,170 USD or €1,840 to €2,030 EUR per square meter), making them attractive for buyers prioritizing value over newness.
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Can I afford to buy in Chiang Mai in 2026?
What's the typical total budget (all-in) to buy an apartment in Chiang Mai in 2026?
As of January 2026, the typical all-in budget to buy a standard one-bedroom apartment in Chiang Mai is approximately 3.2 million to 3.25 million baht ($93,000 to $94,000 USD or €86,000 to €88,000 EUR), assuming a purchase price around 3.1 million baht plus closing costs.
Beyond the purchase price, your all-in budget in Chiang Mai should include the transfer fee (commonly 2% of appraised value, though a temporary 0.01% policy exists through June 2026), legal and due diligence fees, translation costs, bank transfer fees for foreign remittance, and condo-specific charges like the sinking fund and first common area payments.
We go deeper and try to understand what costs can be avoided or minimized (and how) in our Chiang Mai property pack.
You can also read our dedicated blog article to understand what you can at different budget levels in Chiang Mai.
What down payment is typical to buy in Chiang Mai in 2026?
As of January 2026, the typical down payment for foreign buyers purchasing a condo in Chiang Mai is often 100% of the purchase price (full cash), though those who can access Thai financing might put down 30% to 50%, which would be around 930,000 to 1.55 million baht ($27,000 to $45,000 USD or €25,000 to €42,000 EUR) on a 3.1 million baht property.
Thailand's central bank has temporarily eased loan-to-value (LTV) rules through June 2026, technically allowing loans up to 100% of property value, but in practice most Thai banks require domestic buyers to put down at least 10% to 20% and rarely lend to foreigners at all.
For foreigners who somehow qualify for Thai bank financing, putting down at least 30% is recommended to secure better interest rates and approval chances, though the most common path remains paying 100% cash to avoid the complexity of Thai mortgage applications.
You can also read our latest update about mortgage and interest rates in Thailand.
We made this infographic to show you how property prices in Thailand compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
Which neighborhoods are cheapest or priciest in Chiang Mai in 2026?
How much does the price per m² for apartments vary by neighborhood in Chiang Mai in 2026?
As of January 2026, apartment prices per square meter in Chiang Mai range from about 45,000 baht ($1,300 USD or €1,220 EUR) in outer areas to 150,000 baht ($4,350 USD or €4,050 EUR) in the most premium riverside pockets, representing a gap of more than 3x between cheapest and priciest locations.
The most affordable neighborhoods for apartments in Chiang Mai include Hang Dong at 45,000 to 70,000 baht per square meter ($1,300 to $2,030 USD or €1,220 to €1,890 EUR), San Sai at 45,000 to 75,000 baht per square meter, and Mae Hia near the airport at 55,000 to 85,000 baht per square meter.
The most expensive neighborhoods in Chiang Mai include Nimmanhaemin/Suthep at 90,000 to 140,000 baht per square meter ($2,610 to $4,060 USD or €2,430 to €3,780 EUR), the Old City edge (Si Phum and Phra Sing) at 85,000 to 130,000 baht per square meter, and riverside pockets like Wat Ket at 80,000 to 150,000 baht per square meter.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Chiang Mai.
What neighborhoods are best for first-time buyers on a budget in Chiang Mai in 2026?
As of January 2026, the three best neighborhoods for first-time buyers on a budget in Chiang Mai are Santitham (close to Nimman without the premium), Mae Hia near the airport (practical and affordable), and Chang Phueak (mixed area with options at various price points).
In these budget-friendly Chiang Mai neighborhoods, typical apartment prices range from 1.5 million to 3.5 million baht ($43,000 to $101,000 USD or €41,000 to €95,000 EUR), which is 20% to 40% below what you would pay in Nimmanhaemin or the Old City.
These neighborhoods offer good access to local markets, affordable food options, and reasonable commute times to central Chiang Mai, plus newer buildings in these areas often have modern amenities like pools and fitness centers.
The main trade-off with buying in these budget-friendly areas is that you will likely need a scooter or car for daily life, and resale liquidity may be slower than in the more walkable lifestyle zones that attract the most foreign tenants and buyers.
Which neighborhoods have the fastest-rising apartment prices in Chiang Mai in 2026?
As of January 2026, the three neighborhoods with the fastest-rising apartment prices in Chiang Mai are Nimmanhaemin/Suthep, the Old City edge (Si Phum and Phra Sing), and the Wat Ket riverside area, all of which benefit from concentrated foreign buyer and lifestyle demand.
While no official neighborhood-level index exists for Chiang Mai, these areas appear to be experiencing year-over-year price appreciation in the range of 5% to 10%, outpacing the broader Northern Thailand market which has been relatively flat.
The main driver behind rapid price growth in these Chiang Mai neighborhoods is the limited supply of walkable, lifestyle-oriented condos in exact micro-locations where digital nomads, retirees, and tourists concentrate, combined with the 49% foreign ownership quota creating artificial scarcity.
You can also read our latest update about property price forecasts in Chiang Mai.
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What extra costs will I pay on top of the apartment price in Chiang Mai in 2026?
What are all the buyer closing costs when you buy an apartment in Chiang Mai?
For a typical apartment purchase in Chiang Mai, total buyer closing costs generally run between 75,000 and 110,000 baht ($2,200 to $3,200 USD or €2,000 to €3,000 EUR) on a 3 million baht property, covering government fees, legal costs, and condo-specific charges.
The main categories of closing costs for buyers in Chiang Mai include the transfer fee at the Land Office, legal and due diligence fees, translation costs if needed, bank transfer and foreign exchange fees for remitting funds, and condo building charges like the sinking fund and first common area payments.
The largest closing cost for buyers in Chiang Mai is typically the transfer fee, which is commonly referenced at 2% of the appraised value, though a temporary 0.01% policy is in effect through June 2026 for those who qualify.
Some closing costs in Chiang Mai are negotiable between buyer and seller, particularly the transfer fee (which is sometimes split 50/50), and agent commissions when not covered by the developer, so it pays to negotiate before signing.
On average, how much are buyer closing costs as a percentage of the purchase price for an apartment in Chiang Mai?
For apartment buyers in Chiang Mai, you should typically budget around 3% of the purchase price for total closing costs, which is a practical number that covers most standard transactions.
The realistic range for closing costs in Chiang Mai is 2.5% to 3.5% of the purchase price, with the lower end applying if you negotiate favorable terms or qualify for reduced government fees, and the higher end if you need more extensive legal or translation services.
We actually cover all these costs and strategies to minimize them in our pack about the real estate market in Chiang Mai.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Thailand versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What are the ongoing monthly and yearly costs of an apartment in Chiang Mai in 2026?
What are typical HOA fees in Chiang Mai right now?
HOA fees (commonly called CAM fees in Thailand) are standard for Chiang Mai condos, and a typical monthly fee runs between 1,400 and 2,400 baht ($41 to $70 USD or €38 to €65 EUR) for a 40 square meter one-bedroom apartment, based on the common rate of 35 to 60 baht per square meter per month.
The range of HOA fees in Chiang Mai varies from around 30 baht per square meter in basic older buildings to 80 baht per square meter or more in luxury projects with extensive amenities like pools, gyms, and 24-hour security.
What utilities should I budget monthly in Chiang Mai right now?
The estimated total monthly utility cost for a typical one-bedroom apartment in Chiang Mai is around 2,500 to 5,000 baht ($72 to $145 USD or €68 to €135 EUR), covering electricity, water, internet, and mobile phone.
The realistic range of monthly utilities in Chiang Mai can vary from about 2,000 baht ($58 USD) for a small studio with minimal AC use, up to 6,000 baht ($174 USD) or more for a larger apartment with heavy air conditioning during the hot season.
Your typical monthly utility budget in Chiang Mai should include electricity (1,500 to 3,500 baht depending on AC usage), water (150 to 400 baht), internet (500 to 900 baht), and mobile phone (300 to 700 baht).
Electricity is by far the most expensive utility for apartment owners in Chiang Mai, often accounting for 50% to 70% of your total utility bill, especially if you run air conditioning regularly during the hot and humid months.
How much is property tax on apartments in Chiang Mai?
The estimated typical annual property tax (Land and Building Tax) for an apartment in Chiang Mai is around 600 to 1,500 baht ($17 to $43 USD or €16 to €41 EUR) for a condo valued at approximately 3 million baht, making Thailand one of the lowest property tax environments in the region.
Property tax in Thailand is calculated based on the official assessed or appraised value of the property (not your purchase price), with residential rates for properties exceeding certain thresholds set at progressive rates that remain very low compared to Western countries.
The realistic range of annual property tax in Chiang Mai spans from essentially zero for lower-value properties that fall under exemption thresholds, up to a few thousand baht for more valuable condos, though even luxury properties rarely face tax bills that significantly impact ownership costs.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Chiang Mai.
What's the yearly building maintenance cost in Chiang Mai?
The estimated typical yearly building maintenance cost for apartment owners in Chiang Mai is around 10,000 to 25,000 baht ($290 to $725 USD or €270 to €675 EUR), covering repairs and upkeep inside your unit that are your personal responsibility.
The realistic range of yearly maintenance costs in Chiang Mai varies from about 5,000 baht for newer units requiring minimal attention, up to 40,000 baht or more for older apartments needing AC servicing, plumbing repairs, appliance replacements, and repainting.
Typical unit-level maintenance expenses in Chiang Mai include air conditioning servicing (recommended twice yearly), minor plumbing and electrical repairs, appliance maintenance or replacement, and general wear-and-tear items like door handles and fixtures.
Building-level maintenance in Chiang Mai condos is largely funded through your monthly HOA/CAM fees and the one-time sinking fund you pay at purchase, though special assessments can occur if the building's reserve fund proves insufficient for major repairs.
How much does home insurance cost in Chiang Mai?
The estimated typical annual home insurance cost for a condo in Chiang Mai is around 2,000 to 5,000 baht ($58 to $145 USD or €54 to €135 EUR), covering your contents and personal liability since the building structure is usually insured by the condo juristic person.
The realistic range of annual condo insurance in Chiang Mai spans from about 1,100 baht ($32 USD) for basic contents coverage, up to 15,000 baht ($435 USD) for comprehensive policies covering higher contents values, flood damage, and additional liability protection.
Home insurance is not strictly mandatory for condo owners in Chiang Mai, but it is strongly recommended since your personal belongings, appliances, and potential liability are not covered by the building's master policy.
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Chiang Mai, we always rely on the strongest methodology we can ... and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Bank of Thailand (BOT) Property Price Index | Thailand's central bank publishes this index using mortgage loan data. | We used it to verify broader Northern Thailand price trends. We cross-checked our condo estimates against the regional market direction. |
| Reuters | Top-tier wire service that directly reports official Thai policy announcements. | We used it to describe the LTV easing through June 2026. We used it to frame typical mortgage conditions for qualified buyers. |
| FazWaz Thailand | Major property portal publishing live market medians from listing data. | We used it as the primary source for median condo prices in Chiang Mai. We derived size-based price estimates from their listing patterns. |
| Kaibaanthai | Another portal publishing transparent median price snapshots. | We used it to cross-check FazWaz data and avoid single-source reliance. We used the spread between portals to establish confidence bands. |
| Numbeo | Widely used crowdsourced benchmark with visible sample sizes. | We used it only as a sanity check for center versus outside-center prices. We did not use it as a primary source for final estimates. |
| Thai Government Portal (Foreign Ownership) | Official government source summarizing foreign condo ownership rules. | We used it to explain the 49% foreign quota rule. We used it to clarify what foreigners can legally purchase in Thailand. |
| Thai Government Portal (Transfer Fees) | Official source stating standard Land Office transfer fee rates. | We used it to anchor the standard 2% transfer fee. We used it as the base case for closing cost calculations. |
| Thai PBS World | Respected public broadcaster reporting Cabinet decisions. | We used it to explain the temporary 0.01% transfer fee policy. We used it to note the June 2026 policy window. |
| HLB Thailand | Established audit and tax firm explaining eligibility rules. | We used it to flag that reduced fees may not apply to all buyers. We used it to keep closing cost estimates realistic for foreigners. |
| Thai Revenue Department | Thailand's official tax authority for stamp duty rules. | We used it to confirm where stamp duty fits in transaction costs. We used it to structure our closing cost checklist accurately. |
| Provincial Electricity Authority (PEA) | Official provincial utility publishing the Ft surcharge component. | We used it to anchor electricity costs for early 2026. We used the published Ft rate to make utility budgets verifiable. |
| Provincial Waterworks Authority (PWA) | Official water utility publishing the tariff schedule. | We used it to calculate realistic monthly water bills. We translated the tiered tariff into simple budget ranges. |
| MSIG Thailand | Major insurer publishing real premium and coverage information. | We used it to anchor the starting cost for condo insurance. We used published premiums to make insurance budgets concrete. |
| Checkdi | Large Thai comparison platform summarizing insurance market ranges. | We used it to verify typical premium ranges beyond one insurer. We used it to establish a practical budget band for buyers. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Thailand. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.