Bangkok vs. New York, Singapore & Hong Kong: The Real Cost of Owning Property in 2025

Table of Contents

1. Why Compare These Four Cities? / ทำไมต้องเปรียบเทียบ 4 เมืองนี้?
2. Acquisition Costs – Entry Price per Square Meter / ต้นทุนการซื้อ – ราคาต่อตารางเมตร
3. Ownership Costs – Annual Taxes & Monthly Fees / ต้นทุนการถือครอง – ภาษีรายปี & ค่าส่วนกลางรายเดือน
4. Exit Costs – Selling, Commissions & Capital Gains / ต้นทุนการขาย – ค่าคอมมิชชั่น & ภาษีกำไรจากการขาย
5. Investor Takeaways & Final Verdict / บทสรุปนักลงทุน & ข้อสรุปสุดท้าย
6. City Cheat Sheets (Bangkok • NYC • Singapore • Hong Kong) / สรุปย่อรายเมือง
7. Conclusion / บทสรุป

Why Compare These Four Cities? / ทำไมต้องเปรียบเทียบ 4 เมืองนี้?

When people talk about global property investment, three cities dominate: New York City, Singapore, and Hong Kong. They’re iconic hubs of finance, culture, and migration. In recent years, however, Bangkok has emerged as the smart challenger—a market where real estate is comparatively affordable and ongoing taxes are minimal. This disparity widens significantly when analyzing the total cost of ownership, encompassing acquisition prices, transaction taxes, ongoing maintenance fees, and disposition costs.

At CondoDee, we focus on Bangkok condos for sale, and we see firsthand why more buyers are comparing Bangkok with NYC, Singapore, and Hong Kong. While Bangkok offers the lowest entry prices and minimal ongoing taxes, Singapore imposes extreme barriers for foreign buyers, New York City levies high recurring annual taxes and substantial monthly fees, and Hong Kong remains the most expensive market by price per square meter despite recently lowering transaction taxes.

What Makes Bangkok Different? / อะไรทำให้กรุงเทพฯ แตกต่าง?

• Bangkok: The most accessible entry point with very low ongoing property taxes. Popular segments include pet-friendly condos 🐶 and luxury properties at a fraction of SG/HK prices.
• New York City: Global prestige and deep liquidity—but heavy annual property taxes and high common charges make ownership expensive.
• Singapore: Ultra-stable and efficient, but foreign buyers face steep entry barriers (e.g., high stamp duties).
• Hong Kong: Still among the most expensive by price per square meter, though some transaction frictions have eased in recent years.

How This Guide Works / บทความนี้มีโครงสร้างอย่างไร

This long-form guide breaks down the real economics of owning property in four world-class cities. We’ll cover:

1) Acquisition Costs / ต้นทุนการซื้อ

Entry price per square meter, stamp duties, legal/closing costs, and “surprise” fees most buyers miss.

2) Ownership Costs / ต้นทุนการถือครอง

Annual property taxes, monthly management/common fees, and other recurring charges.

3) Exit Costs / ต้นทุนการขายออก

Broker commissions, transfer/exit taxes, and how capital gains are treated.

4) Investor Takeaways / บทสรุปสำหรับนักลงทุน

Which city offers the best value-for-money in 2025, and for what type of buyer or strategy?

Along the way, we’ll link to useful, curated pages on CondoDee so you can drill down into current inventory: condos for sale in central Bangkok, price-dropped listings 💸, penthouses, and investment-ready (with tenant) units.

Big Picture / ภาพรวมใหญ่

On headline price alone, it’s easy to assume that NYC, Singapore, or Hong Kong are the only “serious” choices. But once you model all-in ownership costs—taxes, monthly fees, and exit frictions—Bangkok doesn’t just compete; it often wins on cost-efficiency and yield. That’s why more global buyers now start their search with Bangkok listings instead of over-taxed alternatives. ✨

Who Is This For? / บทความนี้เหมาะกับใคร?

• Global investors benchmark the total cost of ownership across major cities.
• Expats and international families weighing lifestyle vs. running costs.
• Yield hunters who want lower taxes and lighter monthly burn.

Talk to CondoDee / ติดต่อทีม CondoDee

Want a short-list tailored to your budget, location, and yield target? Message us on LINE: @realty, WhatsApp/Call: +66 62 189 9659, or email [email protected].

Chapter 2: Acquisition Costs – Entry Price per Square Meter / บทที่ 2: ต้นทุนการซื้อ – ราคาต่อตารางเมตร

Property Price Benchmarks 2025 / ราคาต่อ ตร.ม. ปี 2025

Comparing Bangkok, New York City (Manhattan), Singapore, and Hong Kong starts with the headline number: price per square meter. In 2025, the spread is dramatic. Hong Kong retains the highest prices, followed by Singapore and Manhattan. Meanwhile, Bangkok offers the most affordable entry point.

• Hong Kong: USD 15,792 – 21,150 / sqm
• Singapore: USD 16,548 – 17,148 / sqm
• New York City (Manhattan): USD 8,353 – 14,994 / sqm
• Bangkok: USD 6,104 – 9,831 / sqm

Quick takeaway: Buying into central Bangkok is often 40–70% cheaper than prime Singapore or Hong Kong, and even 30–50% cheaper than many parts of Manhattan.

Here’s a quick video summary of the price comparison:

Why Bangkok’s Entry Price Is Lower? / ทำไมกรุงเทพฯ ถึงเข้าถึงง่ายกว่า?

Bangkok enjoys several structural advantages that keep entry prices attractive, as highlighted in reports by the Bangkok Post and Global Property Guide.

• Land & supply dynamics: While prime Sukhumvit–Sathorn is limited, the macro supply picture is still healthier than landlocked HK.
• Build costs: Construction and labor costs allow developers to deliver luxury condos at a fraction of Singapore/HK levels.
• Currency arbitrage: For USD/EUR/HKD buyers, THB pricing keeps effective entry costs low.
• Competitive launches: A steady pipeline keeps pricing disciplined—browse our recommended listings to see current opportunities.

The High-Cost Club / เมืองที่ราคาแรง

• Hong Kong 🏢: Still the priciest globally—prime HK Island averages push beyond USD 21k/sqm.
• Singapore 🇸🇬: Stable, tight band around USD 16–17k/sqm—then add ABSD for foreigners.
• New York City 🗽: A wide band—outer areas can be ~USD 8k/sqm, while prime Manhattan pushes the upper range near USD 15k/sqm.

Bangkok’s Prime Zone Pricing / ราคาย่านสำคัญในกรุงเทพฯ

Central zones (Sukhumvit, Asoke, Thonglor–Ekkamai, Phrom Phong, Silom–Sathorn) still sit roughly in the USD 6–10k/sqm range. Even premium categories like duplexes and penthouses often undercut equivalents in NYC/SG/HK by a wide margin. You can also find value in renovated units and high-ceiling condos without paying a global-city premium.

Acquisition Costs Beyond Price / ต้นทุนการซื้อที่มากกว่าราคา

The sticker price is only part of the story. Closing and statutory costs vary sharply by city:

• Bangkok: Transfer fee is 2% (commonly split 50/50), with modest legal fees and a simple process.
• New York City: Mortgage Recording Tax, title insurance, attorney fees, and the progressive mansion tax commonly add 3–6%+ to total buyer closing costs. You can learn more about NYC property taxes and fees from the NYC Department of Finance.
• Singapore: Buyer’s Stamp Duty (BSD) + Additional Buyer’s Stamp Duty (ABSD) with 60% for foreigners—a huge entry barrier. For more on these policies, check out the Inland Revenue Authority of Singapore (IRAS).
• Hong Kong: Ad Valorem Stamp Duty is capped at around 4.25%.

This is where Bangkok shines: overall entry friction is minimal compared with the other three.

Smart Buyer Tips / เคล็ดลับนักลงทุน 💡

• Hunt for price-dropped condos 💸 — they can be 20–30% below neighborhood averages.
• Consider sale-with-tenant units for instant rental income.
• Don’t ignore large-format condos — price per sqm often compresses versus small “shoebox” units.

Chapter Summary / สรุปบทที่ 2

• Bangkok offers the lowest cost of entry by a clear margin.
• Manhattan ranges widely but remains expensive in prime submarkets.
• Singapore and Hong Kong are the high-cost stratosphere.
• When you add taxes and fees, the gap widens further—covered next in Ownership Costs.

Ready to benchmark options against your budget and yield target? Explore our Bangkok listings or message us on LINE: @realty. We’ll shortlist units that match your numbers. ✨

Chapter 3: Ownership Costs – Annual Taxes & Monthly Fees / บทที่ 3: ต้นทุนการถือครอง – ภาษีรายปี & ค่าส่วนกลางรายเดือน

The Real Cost of Holding Property / ต้นทุนการถือครองจริง

Buying is just step one. What separates a “cheap buy” from an “expensive hold” is the annual property tax and the monthly management/common fees. When we compare Bangkok, New York City (Manhattan), Singapore, and Hong Kong, the differences are dramatic.

Annual Property Taxes / ภาษีที่ดินและสิ่งปลูกสร้างรายปี

Here’s a quick video summary of the tax comparison:

• Bangkok 🏝️: The Land & Building Tax is very low, typically 0.02%–0.1% based on the government appraised value (which is often lower than the market value).
• New York City 🗽: A major recurring expense, with the effective annual tax rate for condos in Manhattan typically ranging between 0.8% and 1.5% of the market value.
• Singapore 🇸🇬: The tax is based on the “Annual Value” (estimated rent). While rates for investment properties are higher (12% to 36% of AV), the effective rate relative to the property’s market value is generally low, often below 1.0%.
• Hong Kong 🏢: Recurring costs are low, with owners paying “Rates” (around 5% of the estimated annual rental value) and often “Government Rent” (3% of the rateable value). The effective tax rate on market value is typically well below 1.0%.

Bottom line: Bangkok’s annual holding tax is a fraction of NYC and lighter than SG/HK on an effective basis.

Monthly Maintenance & Management Fees / ค่าส่วนกลางรายเดือน

Recurring monthly fees for upkeep and amenities are a significant factor.

• Bangkok: Common Area Maintenance (CAM) Fees average between USD $1.50–$3.75 / sqm/month. A 100 sqm condo ≈ $150–$375/month.
• Hong Kong: Management Fees range from $3.20–$8.00 / sqm/month.
• Singapore: MCST Fees range from $4–$10 / sqm/month.
• New York City: Common Charges (Condos) are very high, frequently ranging from $16 to over $32+ / sqm/month; co-op fees are often even higher.

In practical terms, a 100 sqm condo in Bangkok might cost ~$200/month in common fees, while a similar size in Manhattan could run $2,000–$3,200/month—before you even count taxes. Explore real examples in our low-floor listings and high-floor listings.

Insurance, Utilities & Misc. / ค่าประกัน ค่าน้ำ ค่าไฟ และอื่น ๆ

Bangkok: Utilities are inexpensive by global-city standards; condo insurance commonly < $500/year for typical units. For more on the cost of living in Thailand, a good resource is Expatica.

NYC/SG/HK: Insurance and utilities are higher, but the major drags remain taxes and monthly common charges.

Holding Cost Comparison Snapshot / ภาพรวมต้นทุนการถือครอง

*Based on appraised value, which is often lower than market value.

**Taxes in Singapore and Hong Kong are based on estimated Annual Rental Value, resulting in a low effective rate on market value.

Smart Investor Insight / มุมมองนักลงทุน 🤓

Bangkok’s low taxes and modest CAM make buy-and-hold strategies far easier to cash-flow. Many clients target sale-with-tenant properties to start collecting rent from day one. If you’re value-hunting, also scan price-dropped listings for outsized yield potential.

Chapter 3 Summary / สรุปบทที่ 3

• Bangkok: Minimal annual tax + low monthly fees = lowest holding cost among the four cities.
• New York City: Taxes and common charges can swamp rental income; ownership is expensive.
• Singapore & Hong Kong: Manageable on tax but materially higher than Bangkok in monthly burn.

Next up: Chapter 4 – Exit Costs (Selling, Commissions & Capital Gains) / บทที่ 4 – ต้นทุนการขาย, where we compare broker fees, transfer/exit taxes, and how each city treats capital gains.

Chapter 4: Exit Costs – Selling, Commissions & Capital Gains / บทที่ 4: ต้นทุนการขาย – ค่าคอมมิชชั่น & ภาษีกำไรจากการขาย

Why Exit Costs Matter / ทำไมต้นทุนการขายถึงสำคัญ

Many buyers obsess over the purchase price and forget the cost of getting out. When you sell, you face broker commissions, transfer/exit taxes, and how each city treats capital gains. These vary sharply among Bangkok, New York City (Manhattan), Singapore, and Hong Kong, and they can materially reshape your net ROI.

Broker/Agent Commissions / ค่าคอมมิชชั่นนายหน้า

• Bangkok: ~3-6% (seller-paid).
• New York City 🗽: 5–6% (among the highest globally).
• Singapore 🇸🇬: ~2%.
• Hong Kong 🏢: ~1% (lowest).

Practical takeaway: A Bangkok seller typically saves several percentage points versus an NYC seller—meaning more net cash back at closing.

Transfer & Exit Taxes / ภาษีและค่าธรรมเนียมการขาย

• Bangkok: Specific Business Tax (SBT) is 3.3% if sold within 5 years; after that, standard transfer fees apply. Planning your hold period can optimize net proceeds.
• New York City: Combined state + city transfer tax is roughly 1.4%–2.075%. Some co-ops impose a “Flip Tax” (~1–3%). Foreign sellers often face a FIRPTA withholding (15% of gross). For a detailed breakdown, check out the guide to FIRPTA.
• Singapore: Seller’s Stamp Duty (SSD) is levied at up to 12% if sold within three years—this makes short-term flips costly.
• Hong Kong: Speculation/exit taxes were abolished in 2024, making disposals more straightforward.

Capital Gains Tax / ภาษีกำไรจากการขาย

• Bangkok: Gains are treated as income; withholding tax (WHT) is collected at the time of sale.
• New York City 🗽: Significant taxation at Federal, State, and City levels that can exceed 30%.
• Singapore: No capital gains tax on property sales.
• Hong Kong: No capital gains tax on property sales.

Net effect: Bangkok is moderate on exit; NYC is the harshest; SG/HK are friendlier for gains but (in SG) SSD punishes early exits.

Exit Cost Snapshot / ภาพรวมต้นทุนขาย

Smart Exit Planning / กลยุทธ์การขายอย่างชาญฉลาด 💡

• Bangkok: If possible, hold for 5+ years to avoid SBT. Lease during the hold to offset costs—see sale-with-tenant units for immediate income.
• New York City: Always model commissions + taxes + potential flip tax; appreciation must cover sizable exit friction. You can find more data on NYC real estate trends via sources like PropertyShark and Realtor.com.
• Singapore: SSD makes flipping uneconomical—focus on long-term fundamentals if you buy. A good source for private condo averages is SmartWealth.sg.
• Hong Kong: With speculation taxes removed, exits are more flexible; still watch management fees and market cycles. You can monitor the Hong Kong property market via the Hong Kong Monetary Authority.

Where to Browse Next / ลิงก์ที่แนะนำ

Optimize your Bangkok exit strategy by starting with the right entry: price-dropped condos 💸, penthouses, duplexes, and all Bangkok condos for sale.

Chapter 4 Summary / สรุปบทที่ 4

• Bangkok: Manageable commissions and timed SBT—plan your hold, then exit cleanly.
• NYC: Most punishing combo of broker fees, transfer taxes, and capital gains.
• Singapore: Fine for long-term holders; SSD penalizes quick sales.
• Hong Kong: Easiest exit post-2024 reforms (no speculation taxes, no CGT).

Next up: Chapter 5 – Investor Takeaways & Final Verdict / บทสรุปนักลงทุน. We’ll synthesize entry, holding, and exit costs and declare the most cost-efficient city to own in 2025.

Chapter 5: Investor Takeaways & Final Verdict / บทที่ 5: บทสรุปนักลงทุน & ข้อสรุปสุดท้าย

The Fast Truth / สรุปสั้น ๆ ให้ชัดเจน

• Entry (ซื้อ): Bangkok is the most affordable gateway among the four cities.
• Holding (ถือครอง): Bangkok again—ultra-low annual tax + modest monthly CAM fees.
• Exit (ขาย): Hong Kong is currently the easiest (no speculation taxes, no CGT); Bangkok is moderate (avoid SBT by holding >5 yrs); NYC is the harshest; Singapore punishes short flips.

Verdict: If you want high efficiency (low burn) and a clear path to positive yield, Bangkok is the pragmatic winner in 2025. ✨

Who Should Buy Where? / เมืองไหนเหมาะกับใคร?

• Yield-Focused Landlord / นักลงทุนเน้นกระแสเงินสด: Choose Bangkok. Use sale-with-tenant units to start income day one; seek price-dropped deals for an extra yield kicker.
• Value Hunter / นักล่ามูลค่า: Look for renovated or large-format condos in Bangkok—PSM often compresses versus small units.
• Trophy Buyer / ผู้ซื้อระดับไอคอนิก: If you want global-status addresses, prime NYC/SG/HK still deliver cachet—but you’ll accept heavy carrying/exit costs.
• Short-Cycle Trader / ผู้เทรดระยะสั้น: HK is currently friendlier on exit; SG strongly discourages flipping (SSD). NYC exit friction is high.

Bangkok Playbook (Step-by-Step) / แผนลงทุนกรุงเทพฯ ทีละขั้น

1. Define the target: Yield vs. lifestyle vs. long-term appreciation. If yield → filter with-tenant; if lifestyle → browse luxury and pet-friendly options 🐶.
2. Pick the micro-location: Sukhumvit spine (Asoke–Phrom Phong–Thonglor–Ekkamai) or Silom–Sathorn for CBD access. See high-floor vs. low-floor trade-offs.
3. Shortlist by format: Consider duplex or penthouse if you want uniqueness and long-hold value.
4. Exploit pricing dislocations: Scan price-dropped listings 💸 and CondoDee picks.
5. Model the holding math: Bangkok’s CAM typically keeps monthly burn light; rent can cover it even at conservative yields.
6. Plan your exit at entry: If you might sell <5 yrs, factor in SBT (3.3%). Otherwise, target a 5+ year horizon to maximize net.

Practical Scenarios / ตัวอย่างสถานการณ์จริง

• Income First: Buy a 1–2BR in central Bangkok, tenant in place, modest renovation done. Low tax + manageable CAM → net cash flow that actually matters. Pair with renovated or high-ceiling units to stand out to tenants.
• Capital + Lifestyle: Go for a penthouse or unique duplex in a blue-chip location. Hold 5+ years to smooth cycles and avoid SBT.
• Deep-Value: Target price-slashed and large-format units—PSM is your friend here.

Risk Controls / การบริหารความเสี่ยง 🤝

• Liquidity: Global hubs (NYC/SG/HK) are liquid but costly to hold/exit. Bangkok’s liquidity is solid in core zones if you price correctly.
• Policy Risk: SG uses stamp duties to cool demand; HK recently eased exits; Bangkok’s key lever is the SBT timing.
• Currency: USD/EUR/HKD buyers benefit from THB pricing; keep a buffer for FX swings and rate cycles.
• Tenant Quality: In Bangkok, selection and screening matter—choose buildings with strong renter demand along transit and lifestyle nodes.

What Not to Do / สิ่งที่ควรหลีกเลี่ยง ❌

• Don’t ignore monthly burn—CAM + tax can turn a “cheap buy” into an expensive hold (especially in NYC).
• Don’t buy in SG as a foreigner if you lack a long horizon—ABSD + SSD will crush returns.
• Don’t assume quick exits—price to market and plan the hold period (Bangkok >5 yrs is cleanest).

Final Verdict / ข้อสรุปสุดท้าย

Bangkok offers the best total cost of ownership profile in 2025: low entry friction, minimal annual tax, modest monthly fees, and a manageable exit (especially after 5 years). You buy in cheaper, you hold for less, and—if you plan a 5+ year horizon—you can exit cleanly. That’s why, for investors who care about cash efficiency and net yield, Bangkok is the pragmatic 2025 winner.

Prefer prestige over efficiency? NYC/SG/HK still deliver trophy addresses—but you’ll pay for the badge. If you want returns without the bloodletting, Bangkok wins. ✨

Next Steps / ก้าวต่อไป

Tell us your budget, yield target, and preferred vibe (Asoke–Phrom Phong–Thonglor–Ekkamai, Silom–Sathorn). We’ll shortlist options from all listings, price-dropped 💸, luxury, penthouses, and duplexes.