Below Market in Nimman — Renovated 2BR, Foreign Freehold

The lift opens on the 7th floor to a different Nimman: quieter than the street below, with the sound of the city arriving as atmosphere rather than interruption. This corner unit's dual-aspect windows mean morning light from the east and an open western sky — the kind of incidental quality that photographs understate but residents never stop noticing.

The unit was stripped back and rebuilt in 2026: new appliances, new furniture, new built-in joinery, new electrical throughout. There is nothing left on a buyer's renovation list. Move in, or let it out immediately.

Is a 2-bedroom condo on Nimman Soi 12 a good investment in 2026?

Yes — at 73,588 THB/sqm, this unit is priced approximately 15% below the 2026 Nimman district average of 80,000–100,000 THB/sqm, and the full 2026 renovation brings its interior to a standard that competes directly with newer stock. In our experience, fully furnished 2-bedroom units of this size in central Nimman rent consistently at 18,000–22,000 THB/month on long-term leases, implying a gross yield of approximately 3.6–4.4% — steady income supported by persistent demand from Chiang Mai's established expat and digital nomad community.

Can a foreigner buy a condo in Nimman, Chiang Mai?

Yes — under the Thailand Condominium Act B.E. 2522 (Section 19), foreigners may hold up to 49% of a project's total unit area on a freehold basis, and Ruankam Tower's foreign quota is confirmed available for this unit. We have observed that many older Nimman buildings have exhausted their foreign quota entirely; confirmed availability here, together with a direct Chanote title deed, is a substantive advantage for non-Thai buyers seeking clean freehold ownership.

Goen observes: "In Nimman's current market, a fully renovated 2-bedroom at 73,588 THB/sqm with confirmed foreign freehold quota is rare — most comparable listings either carry an older interior or have no foreign title available. The CAM fee here at 1,384 THB/month is also notably lower than what buyers pay in buildings with pools and gyms, which typically run 3,000–6,000 THB/month for a unit of this size."

People Also Ask

Is Nimman Soi 12 noisy at night?

Soi 12 is one of Nimman's mid-grid residential sois — low-traffic and notably quieter than the main Nimmanhaemin Road or the entertainment sois to the north. In our experience, units above the 5th floor in this area sit above the street-level noise entirely, and the 7th-floor corner position here offers effective acoustic separation from the soi below.

What is the flood risk on Nimman Soi 12?

The Nimman neighbourhood sits on elevated ground relative to the Ping River floodplain and has not experienced significant inundation in recent memory. We have observed that the primary water issue in the area is short-duration surface drainage slowdown during the heaviest rain events — typically clearing within hours — rather than structural flood risk. Buyers with specific concerns should consult Chiang Mai municipality flood zone maps before purchase.

‍How does this unit compare to other 2-bedroom condos in Nimman?

At 73,588 THB/sqm with a full 2026 renovation and confirmed foreign freehold, this unit sits below the Nimman district pricing of 80,000–100,000 THB/sqm for comparable renovated stock. The trade-off is a 2012 building without shared amenities — a factor offset, in our view, by the substantially lower CAM fee and the fully furnished, ready-to-occupy condition that eliminates any further buyer outlay before leasing or occupying.