Exotic culture, friendly people, a lush landscape, golden beaches, millennia of history, and the low cost of living in Thailand are a perfect mix of attractive factors for many British expats. If you are considering moving to Thailand for business or for your retirement, understanding many of the living costs involved will help you prepare for a significant change in your lifestyle.

The currency in Thailand

The currency in Thailand is the Thai Baht (฿). You will see the currency shown as its official currency code (THB) at Moneycorp. The Bank of Thailand employs a managed float exchange rate, which means the currency’s value is determined by the market mechanism. However, the Bank of Thailand can intervene if the currency becomes too volatile. £1 is equal to 40.59 THB at 5.55pm on 6 February 2023.

Where to live in Thailand

It’s best to do as much research as you can before deciding where to live. That said, the low average cost of living in Thailand means you should easily afford to rent or buy a home in a middle class or affluent area. Bangkok, the capital city, is a bustling metropolis that has long been popular with British expats. Many expats have also made their home in locations such as Pattaya, Phuket, Koh Samui, and Chiang Mai. According to the 2023 Mercer Cost of Living Survey, Bangkok is the 106th most expensive city in the world to live in. 

How much does accommodation cost in Thailand?

The price of accommodation is in keeping with the low average cost of living in Thailand. Whether you are looking to rent or purchase property, you will find that prices are much lower than what you would pay in London or other parts of the UK. Purchasing property is notoriously difficult for foreigners, so it is best to rent a home for a few months while getting to grips with the real estate market.

(All figures taken from Numbeo.com and exchange rates calculated on 8th February 2023 at 11:30am).

Bangkok

Monthly rent for 1 bedroom apartment (city centre)	£523.21 (21250.00 ฿)
Monthly rent for 1 bedroom apartment (outside centre)	£256.32 (10410.26 ฿)
Monthly rent for 3 bedroom apartment (city centre)	£1681.61 (68297.74 ฿)
Monthly rent for 3 bedroom apartment (outside centre)	£804.31 (32666.67 ฿)
Price per square meter to buy apartment (city centre)	£4707.24 (191181.82 ฿)
Price per square meter to buy apartment (outside centre)	£2199.17 (89318.18 ฿)

 

Phuket

Monthly rent for 1 bedroom apartment (city centre)	£319.45 (12974.25 ฿)
Monthly rent for 1 bedroom apartment (outside centre)	£341.19 (13857.14 ฿)
Monthly rent for 3 bedroom apartment (city centre)	£1107.98 (45000.00 ฿)
Monthly rent for 3 bedroom apartment (outside centre)	£724.97 (29444.44 ฿)
Price per square meter to buy apartment (city centre)	£2503.21 (101666.67 ฿)
Price per square meter to buy apartment (outside centre)	£1682.49 (68333.33 ฿)

 

Chiang Mai

Monthly rent for 1 bedroom apartment (city centre)	£303.16 (12312.50 ฿)
Monthly rent for 1 bedroom apartment (outside centre)	£200.60 (8147.06 ฿)
Monthly rent for 3 bedroom apartment (city centre)	£695.57 (28250.00 ฿)
Monthly rent for 3 bedroom apartment (outside centre)	£412.41 (16750.00 ฿)
Price per square meter to buy apartment (city centre)	£1403.44 (57000.00 ฿)
Price per square meter to buy apartment (outside centre)	£845.35 (34333.33 ฿)

 

How much does transport cost in Thailand?

The cost of public transport is much cheaper than in the UK, which helps keep the cost of living in Thailand low. However, while the price of petrol is cheaper than in the UK, you may find that purchasing a car is more expensive.

Single bus ticket	£0.74 (30.00 ฿)
Monthly public transport ticket	£35.31 (1200.00 ฿)
Petrol (1 litre)	£1.05 (42.49 ฿)
Volkswagen Golf	£29546.13 (1200000.00 ฿)
Toyota Corolla	£21143.42 (858728.33 ฿)

 

What is the cost of living in Thailand compared to the UK?

The low cost of living in Thailand means expats easily can afford to lead a comfortable lifestyle. While some food items and groceries are priced similarly to what you would pay in the UK, other goods and services are much cheaper.

Milk (1 litre)	£1.40 (56.94 ฿)
Bread (500g loaf)	£1.13 (46.03 ฿)
Eggs (12pk)	£1.46 (59.16 ฿)
Water (1.5 litre bottle)	£0.40 (16.09 ฿)
Chicken Breast (1kg)	£2.05 (83.12 ฿)
Cappuccino (regular, in a restaurant)	£1.65 (67.09 ฿)
Beer (500ml, in a restaurant/pub)	£1.72 (70.00 ฿)
Cinema ticket	£5.05 (205.00 ฿)
Gym membership (monthly)	£38.03 (1544.57 ฿)
Preschool/Kindergarten (monthly)	£308.78 (12540.74 ฿)
Primary School (yearly)	£9436.74 (383268.19 ฿)

 

Sign up for a personal account with Moneycorp

Whether you want to move to Thailand for business or retirement, you will need to send money to the country with convenience and peace of mind. Sign up for a Moneycorp personal account and benefit from secure payments, competitive exchange rates, and a suite of product options dependent on your requirements.