Chiang Mai real estate market — prices, rental yield and trend

• Gross rental yield: 6.91%
• Net rental yield: 6.68%
• Transaction cost: 7.5%
• Price basis: local-market average

Chiang Mai is one of the 314 property markets Glopra tracks.

What a buyer pays in Chiang Mai

Buying costs — transfer tax or stamp duty, notary, registration and agency — come to about 7.5% of the price here. That is below the 9.5% median across the set, which shortens the time it takes for a purchase to break even. Of that, the transfer tax alone is 2%; the rest is notary, registration and agency fees.

What it earns

The typical home here lets for about $439 a month against a purchase price of $76,333, which is 6.9% gross before tax. Neither figure is quoted per square metre in this market, but both come from the same source, so the ratio between them holds. It ranks 47th of 311 markets by gross yield. Rental income is taxed at 0.9–15% — the rate is not a single number here. That is the difference between 5.9% and 6.9% net on the same property. The 6.7% net figure we publish uses 3.4%. On the way out there is a third tax: a non-resident seller pays 0–35% on the gain, depending on how long the property was held and who is selling.

How the tax works. Progressive: a 30% lump-sum expense deduction for buildings, a THB 60,000 personal allowance and a THB 150,000 zero band (Revenue Code § 40(5), Royal Decree 11 § 5), then the progressive scale, which gives about 1–6% across typical rent levels. The upper end of 15% is the § 50(2) withholding, which is not final for a non-resident individual but becomes the effective burden if the owner never files a return. This is the weakest-supported figure in the set; local confirmation is advisable. Residential letting is VAT-exempt. Source: HLB Thailand.

Who can buy in Chiang Mai

Condo freehold (49% cap); land not permitted. That is the rule a foreign buyer meets first, not legal advice — check the current position locally before you commit.

How this figure is built

The price figure for Chiang Mai is built from asking prices from listings. It was last refreshed on 2026-10-18. We rate our confidence in this market’s data low — treat the figures as indicative and check them before acting. We recompute every market the same way, which is what lets Chiang Mai be compared with a country average or another city.

Sources: propertyscout.co.th · REIC). Snapshot: 2026-10-18.