If you are looking to buy a house in Chiang Mai you will find some exceptional value comparative to western countries. Chiang Mai is one of the cheapest places in Thailand to buy a house. It has a pleasant atmosphere which makes it popular among retirees and Thai-foreigner families. The availability of land and suburban character of the city further popularises houses over condos.
As a house requires land, you will have to meet the requirements for land ownership. If you do not have a Thai spouse to own the land title deeds, there are 2 other main alternatives chosen by foreigners, setting up a 30 year lease of land from a Thai owner or to form a Thai-foreigner owned company which will own the land. The latter is now less popular since the authorities pledged to check the legitimacy of the minimum 51 per cent Thai ownership arrangement.
If you have a lawful avenue for land ownership, you will find there are plenty of options, with a general buyers market resulting from an oversupply.