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Every day my Thai GF told me to buy a house. Every day for 6 months. I just laughed. Next the whole damn family started telling me at my bday party to buy a “big house”. I was gone the next day. Never even said good bye.
thanks Champ. I never let these greedy families off easy. I always tell them that my wife is “very rich in America” and the court says she must pay me $ 20,000 dollars a month. But she will never divorce me and says I can never buy a house or she will stop the payments. The looks on their faces need no translation! They won’t shut up about it. Especially when I say I am very bad with money.💰 haha
As a REALTOR, I agree with you, buying Real Estate in Thailand is not great for non-Thai person. Thailand is great place to rent and have assets in other parts of the world where foreigners are allowed to own Real Estate.
This is one of the best videos I’ve seen on RUclips period. There’s so much misinformation out there and this absolutely nails the truth behind owning property in Thailand as a foreigner 👍
For me, home ownership is a job I don't want in retirement. I don't want to pay to fix things when they fail. A nice 1 bedroom apartment at $450 per month or so...happy days. I don't get farangs who want to live out in the country with the snakes and mosquitoes, surrounded by no one that you can really understand, but as is well said, to each his own.
I'm moving to Pattaya with my family next year. I will be renting for the rest of my life, the lack of permanent residency where anything can change, and the lack of land ownership, is enough for me to never buy a house in Thailand. Besides, renting gives me the freedom to move anytime I want to.
Wife and I built. Out in the province. (But not Issan). I am so sorry I did. She's still ok with family close by. But I don't like the isolation. Lack of close by medical facilities. And long commutes to Super market. We have been married for 23 years. I should have known better. Stay fluid. Be able to adjust and move if need be..
Every day my Thai GF told me to buy a house. Every day for 6 months. I just laughed. Next the whole damn family started telling me at my bday party to buy a “big house”. I was gone the next day. Never even said good bye.
Good perspective Ramze. There's always exceptions and individual situations. Here in Chiang Mai for instance, many Chinese families buy houses, shophouses and townhomes on 90 year leases (not sure how they do that), and it makes sense to them because back in China they can't own property either - it's always shorter than the 70 year lease, and the legal recourse is even weaker than in Thailand. As for property appreciation. I have been coming to CM for the past few years. There wasn't much appreciation until 2024, but in the last 6 months I do notice a serious uptick, especially in the northwestern portions of the city. Well-placed studios (e.g. right next to the CMU) used to be less than 1m only a year ago, but now into 1.2m to 1.8m THB. 1BRs used to be around 1.5m, now around 2m. Meanwhile the south and eastern portions are stagnant, impacted by the flood. My local friends attribute the increase to the Chinese buyers (particularly in areas like Hang Dong). I personally think it's more of a combination of the Bangkok/Phuket spillover (including some Russian buyers) and the local reshuffling following the September floods. In other words, real estate is not just local. It's hyperlocal.
they are not getting 90 year land leases, they are getting a 30 year lease that is guaranteed to be renewed 2 times for a total of 90 years. This could be changed to a 90 year lease if Thailand changes their laws which is in talks & if you have a 30 year lease it would automatically become a 90 year lease with no need to renew it 2 times if the law changes.
A 30 year lease is the longest legally allowed in Thailand. It has to be entered on the chanote at the land office to be legal. Under Thai law the lease can be extended 1 time for 30 years if agreed to by both parties at the land office. If 1 party doesn't agree the lease ends. After 1 renewal the lease has to be rewritten and re-entered on the chanote. Anything else can be written in a contract but is not enforceable in court
@@oldthaiexpat Correct. You pay a 'freehold' price for a 30 year lease - go figure - and hope that the landlord agrees to extend for a further 30 years at the expiry of the lease.
Real estate in Thailand is a completely different animal from the west. Bottom line: the appreciation isn't there (so it's not a good investment in the first place), plus there are all kinds of ownership restrictions as you mention. Leave your money at home and rent. Fundamental rule of Thailand: keep your assets in Thailand to a minimum.
The solution to the foreign home ownership problem, since some will always want to own, has already been worked out. It's a large estate tax. No "colonization" is possible if a decedent owner's estate has to cough up 20% of the value of the property.
Great video. For those who want to buy an apartment and then rent, please find out the actual breakdown of the 51% Thai ownership. If the 51% Thai ownership is owned by only one or two Thai families then your chances of renting your condo is slim. They own half the building which means they control the rental price. Your condo will be rented out only after all other condos in the building are leased. Good luck.
You can own 100% of a condo under the condominium act. What you say applies to free standing homes. They try to sell those homes to farang and some of those houses go 20 million $. The trouble is that when you die, you will lose your money. Your children will be forced to sell the 49% for nothing. Buying a condo in Bangkok, I can understand that. But buying a house or building a house on your spouse name, don't do it. If she dies before you, you can pack your stuff. And most of the times the spouse just stops talking to you and you leave after a while. It's a common story. Farang meets girl in a bar, moves to her village, builds a house, buys a business for the wife and then he can leave. Enjoy Thailand but be smart with your money and always have a plan B. Don't make Thailand the end of the line. You'll end up in horror.
A lot of Thais don't like to buy used and you probably overspent being a foreigner so trying to resell to a Thai is gonna be extra, extra difficult. Not to mention they probably prefer a different style to you. I guess that pretty much leaves only foreigners that you can resell to. There's also talk of increasing the foreign quota for condos so all of a sudden there are a lot of extra condos available, that can't be good for resale value.
I agree right off the bat if condos go to say 75% foreign ownership to 25% thai ownership the market will get a little saturated but at the same time many condo complexes have to charge the foreign owners 2 times the maintenance fee because the 51% for thai ownership go 40% unsold & to properly maintain the building & pool & pay the security the slack has to be picked up by the foreign owners thus they pay 2x the fees & so that would go down & I really think if it went to a 75% to 25% ratio the units that would now be available would get snatched up pretty fast, within 2 years easy if not even less time. Also at a 75% to 25% ratio that could make values go up more in the long run especially if there is a huge influx of westerners & or chinese that move there or just invest there to rent out to the new people coming over & more westerners or foreigners would own the condos so the rents would go up because as it is now its cheaper to rent from a thai than to rent form a foreigner. Also IMHO if you buy only buy with a close sea view or basically on a beach as there is only a limited amount of those condos no matter what happens! Steer clear of inland condos that are a dime a dozen!
I don't get why foreigners feel the strong urge to buy into a country and get creative about land and property ownership when the laws are specifically enacted to protect against that activity. Many Asian countries do not want their land bought out from under them. Trying to run rings around laws is a no win situation because laws can be amended to further tighten restrictions. Perhaps an individual foreigner is a nice guy and local officials look the other way until the friendly official is reassigned or retires and the new guy wants to show who is boss. What then?
And people quickly forget the issues caused in their own countries by property being sold to foreign investors. People are stupid. And it’s stupid people who are the ones who only ever made any decent amount of money in their lives by “investing” in property. Of course, they’d fight tooth and nail to prevent their only success from being taken away for the sake of society at large. So, society at large gets destroyed whilst the few enrich themselves. It’s dog eat dog in this world, in spite of the charade of it being a “community”.
Rent: 18,000 Baht, Internet: 500 Baht Electric & Water: 1,600 Baht. The freedom to give 30 days notice and drop my keys off: PRICELESS. There are some things money can’t buy. For everything else, there’s Mastercard. 😁
Let’s throw one more monkey wrench into the analysis; assuming this new tax on remitted funds becomes law and the fact that most property purchases by foreigners are in cash; how would you like to be taxed an additional 35% on the purchase price of your new home?
Ramze, I see your point. However getting 30+30+30 years lease deeds framed by well reputed Thai lawyers and such lease provided by the local developer probably makes it pretty solid legally to live ones rest of the retired life. After that, who knows. Selling that by your kids after surely will not an easy task unless these are located in well developed retirement communities such as in Hua Hin. Other western retirees can buy these, simply because there will be a constant stream of western retirees in future wanting to live in Thailand. The west is almost becoming unmanageable for low and middle financial level retirees.
if the west is getting so bad then more & more & more will move to places like thailand & then thailand will be just as bad because housing & rent costs will go up & up along with food & everything else. This could make owning a home & leasing the land a better deal in the future. In 15 years rent could double in thailand if there is a lot of influx, see florida for an example, 15 years ago florida was a cheap state to own a home in, now its not even remotely cheap.
No such thing as a 30+30+30 lease. 30 years is the longest legally allowed in Thailand and must be entered on the chanote. After the first 30 years a second 30 years is allowed if agreed to by both parties at the land office. If 1 party doesn't agree the lease ends. If at the second leases end both parties want to continue the lease must be re-registered at the land office. Also for the lease to be passed on to someone it would have to be changed at the land office on the chanote with the land owners permission. Anything else can be in a contract but isn't enforceable
Problem with that is even if 99 lease if u want to sell halfway through, it's not an attractive investment for the next buyer as they will need to either renegotiate the lease or see it to end of lease and then have the stress of not knowing if they can extend for another 99 years, too much hassle! Too hard = insecurity = nervous investor. Forget it. I would rather buy another house at home and live off the rent. It's cheap enough and provides more flexibility.
@@ratnoinamaew7822 there is a problem with renting a house out in your home country & living over seas, insurance, property tax & repairs are a given & are all costs that just keep going up & up & you are lucky to get a good tenant, if not you may need to sue the people. You can hire a management co sure but then you are making even less. If you are making 5%-6% a year after all costs that's not worth it! A high yield checking/savings account is nearly 5% APR with no headache at all ever. Or an index fund that can yield you 6-9% per year. I personally do not want own & rent in my home country & have to deal with that potential headache. Much easier ways to make the same or better returns on your cash IMO. Heck selling stock options can yield an easy 2% per month, thats 24% per year!
Good content … it amazes me ANY person with ANY real knowledge of smart investments would even think about this here but I see it OFTEN here in Thailand with foreigners
Buy S&P 500 shares that have a proven 10% yearly return and use that money to rent. How difficult can it be? Rental prices are usually below 5% of the purchase price of the house. So if a house is 100K$, you'll pay less than 5K$ yearly rent. Buying is not exactly a good investment.
@ Buying is DEFINITELY not smart to do in Thailand as a foreigner in my opinion from buying condos here which also won’t get you rich unless buying buildings but if you can run it through a business with a Thai partner and buy Thai quota price and have a lawyer make paperwork saying you have ownership then it makes sense only but I still wouldn’t do … I know people who have and lost ALOT of baht lol
I wouldn't invest a dime in Thailand. No way not in your thai wife names either. Because the laws not protecting anybody but thai citizens only .so why would anyone want to play russian roulette with your retirement money.
Thanks for voicing your opinion. Just maybe, the government will hear you, and change a few laws. The Thai's are trying to attract people like you, and keep you there. You are letting them know what will make your stay better. Thanks for your public service.
You're sarcastic? Right? Read the blue diamond story on wikipedia to get a grip on how Thai government operates and thinks. They are not exactly good in the financial side of things.
Ramze, excellent commentary. Right now, the authorities are cracking down on nominee structures, particularly in Phuket, Koh Samui, Hua Hin, Bangkok, Pattaya ... .
100% agree with you....renting is so cheap in Thailand and so many options. For me investing in a property would be a huge chunk of my money and I'm just not willing to risk that. Thanks for geeat informative video 👍
Fortunately I’m in the latter category. Not going anywhere. 16 years with my Thai wife and raising our child here. Money is no issue for me and never will be. I’ll also be a Thai citizen within the next 18 months.
Imagine a place where houses are homes, not investments. Where everyday, working class people can afford to buy a home in the area they work. Where the next generation isn’t robbed by the previous one. Where society isn’t divided into the “landed gentry” and the “surfs” who are forced to pay inflated rent to make others rich. Where the ladder isn’t pulled up by the rich to deliberately keep the rest down. Make money by creating something. By providing a service. By contributing to the world. Not by stealing from those in your wake.
Actually, it's the upper middle class doing most of the robbing. The "landed gentry" don't bother collecting rents. Their gig is owning empty houses, and sometimes farms.
I would also never buy a home in Thailand IF we were just a foreign couple, or if I cannot afford it walk away. However, there are many good reasons to buy a home when you have a Thai spouse, and you can make money with your home (we do Airbnb with a good location). What is crucial is to use a skillful real estate lawyer who can set up a lifetime land usufruct, wills, testaments, etc which means if something goes wrong, you still have some protection to sell it or keep living on it in case she goes before you. All in all a great video 🙏
You’re forgot to mention that in the case of divorce in most countries in the world the woman will be given the house you own or paid for. In the case of death, as long as the Thai spouse has made a will she can pass ownership to the farang who can then legally own the land but only for one year. They will have to sell the property in that case.
You're a fast learner for just a year in Thailand, you hit on every valid reason not to buy. Being in the EPC industry, I would routinely observe construction in Bangkok...there is no trained workforce, no quality, no safety, no supervision, no quality materials, no material testing, no proper pipe/wire runs, and so on...and it was not uncommon to see workers (some with wife/kids) living in an under construction building...cooking, washing, etc....after the sun went down. I was in one apartment where they mixed the grey and black water lines...imagine the smell coming from the floor drains.
I’ve been through this in other countries and my business was rental properties in foreign countries. It mostly applies here. Thanks for the great comment!
Everything is low quality. I stayed in new build condo's and everything was already falling apart. There is always the exception. The Chinese owner of the shangri la hotel chain is also a real estate developer in Thailand. His buildings are top quality. If you know something about construction, you notice right away. And when you stay in one of his condo's you just feel the difference. You don't need the AC on at night to keep your room cool.
I agree 100%. Way too risky and why imvest in a depreciating asset with no security. I rent in Chiang Mai currently. I have a Laos wife and did buy a plot of land under her name there which is purely an investment for our daughters future.
Too late, I bought an investment villa last week 7.5m baht and almost a 10% return with the tenants who moved in the next day…….. huay yai 3 bed, 2 bath, 380sqm new build pool villa fully furnished
@@gordon.Jacko1055time will tell but I’m sick of dealing with the over regulation of rental properties in the uk amongst a lot of other factors in the west and it is only getting worse. At least over here, owners have a lot more control over their investment properties ie if someone doesn’t pay their rent, you can evict them after 3 days and it is perfectly legal
Most farangs that buy houses do it for their partners, a demonstration of our affection. Given that many of us are north of 60, it falks into the "You can't take it with you" category.
Totally agree!!!!!! Not just for partners though. Not trying to go for an investment because the investment can’t be taken with you. Live til the end!!!!
Well presented. Have you heard about senior living places in Thailand? There seems to be a trend of retirement or old age communities popping up. Where they sell you a $200k and up condo or house with a just under $2k a month services fee. For on call nurses etc. Seems so much cheaper than the States but why buy the home you don’t really own?
I crunched the numbers comparing renting versus owning. I own a foreign quota condo. If I stay in my condo for 14.2 years, it will have paid for itself.
Every day my Thai GF told me to buy a house. Every day for 6 months. I just laughed. Next the whole damn family started telling me at my bday party to buy a “big house”. I was gone the next day. Never even said good bye.
I have played with these numbers before & thats not at all what i came up with, I think it was double that to break even for the numbers I was playing with. My numbers were for a close sea view or basically on the beach condo & buying vs renting was pretty big. Like I said I know it was well north of 20 years to break even if I bought for cash & that doesn't even figure in what I could have been making in the stock market on that money if not using it to buy the condo with. In the long run I was coming out way way behind especially if I was reinvesting the stock market profits compounding it every year or every month
@@robertpierpont2262 Everything depends on the deal. I bought a unit 5 min from the beach, 10+ years old Pratumnak condo. It sold for 31% discount. So it made sense for me.
Yeah now it s deff 20 years to get back your own money. You can't take the stock market as a reference because if it went down for 10 years you will choose something else to compare. Also I play with chat GPT and I ask him in the worst scenario possible if I own a house or condo what are the risk in % I lose it 1-2% to lose my condo freehold 10% to lose my house
Thanks for very good informations , yes American Dream was for everyone in this world to work and have a house and land in short time to have American feelings about ,
I think the best option would be to buy a house only when you have a child with your Thai wife. Then have the house put in the child's name. Is that a better idea you think?
buying is always better then renting you would always pay more in renting over the years so if you so called own the house and lease the land you still made out good and got your money worth and stll paid lesser or the same amount in rent regardless of what happened and if you got thai kids the house can go to the kids buying is always better the renting if you there long term if something happens and you get kicked out the country after some years you still got your money worth
If the LLC is trading legally, then it’s no problem to buy a property in this way. It takes one trade, that’s all, do the accounts, file them, that’ll do.
Renting is the BEST option. As an expat - one will never be a Thai. Expats will not ever have the same rights as a Thai. Renting gives one the ability to move if they encounter an y issues. Rent is just too damn cheap. $150 a month for a small 1 bedroom, that is comfortable! Yes, that’s $150! Always rent. Always rent cheap. I don’t mind living cheap and small. Not everyone can do it. I feel if the way to go is renting - make that monthly living expense as small as possible. “Locals always win.” So very true! It’s hard to pull up stakes and move to the next town over if one is locked into a condo/house.
if you are renting & staying in a 150$ month place then yes rent.. you are not living on a beach in a populated area where people want to be for 150$ tho, not even almost & many people want that beach side, sea view condo that is 650-800-1000 or more a month for 40 - 50 - 60 - 70 square meters.
@ agreed. It’s unlikely to be near a beach - but the beach is likely reachable by bus. Lotta guys up in Isaan doing stuff like this. They save money up there, focus on their health care, savings, and well-being, then head down to places like Pattaya for a weekend of fun. Pretty decent way to save money when temptations aren’t in your face 24/7.
@@JeffWittyArt oh I understand & I have seen unfurnished homes just a few (like 5-6 blocks) off the beach for $150 mo rent not long ago, forget exactly where it was now, I'll have to find that video again
You can become a Thai citizen if you really do want to stay and not worry. Mark Abbott and Benjamin over at integrity legal both have videos about it. FWIR one of the first steps is paying Thai taxes for 5 years and a ton of paperwork. So it doesn't sound easy (it probably shouldn't be) or fast (is anything there?). lol But there is a path, start with talking to a lawyer if you are serious. I am not a lawyer so do your own looking. lol CYA Great video as always.
i was born in thailand and moved to the US when i was a child as a refugee, but i still have my thai citizenship. This means that i don't have the limitations that typical expats does and can legally own land.
Everyone who leases and thinks they have a 30 year lease with 2 30 year renewals should read Thai civil and commercial code sections 537 to 571. Section 540 says the longest lease allowed under Thai law is 30 years and any longer lease is aitomatically reduced to 30 years when registered at the land office. Also pre-signed or pre-agreed lease renewals are not accepted under Thai law section 546. Also under section 546 it states a lease more than 3 years on the chanote can only be renewed once the original lease expires. Thai law online has all these laws and sections online. Be cautious of any lawyer or adviser, Thai or otherwise, who says anything else
I ask ask chat GPT the worst scenario possible if I own a house or condo what are the risk in % I lose it 1-2% to lose my condo freehold (condo already build) 10% to lose my house (GPT mentions that change of law could increase the % risk) And we all know that government love to change the law 😂 I dont put my trust in them And also for wait 20 years to get my full return forget it I rather buy BKR (Warren Buffet company)
Great vid. This guy is onto it. Currently in Phuket. Been coming here for 15 years. Got a lot of stories that prove you have ZERO rights here. That’s a fact. If things go belly up, you are screwed. There are so many dumb-arse guys here that let their egos run wild and make stupid decisions with both bar girls and property. No shade on Thai women, there are plenty that are wonderful, but stay away from people that see you only as a transaction. I’ve seen so many lose everything. NEVER buy here. NEVER. Just rent - always. Things turn on a dime here, be smart. Keep everything at arms length and you will have the best time.
Ive been in Bangkok now for 2 days and i dont know how you guys deal with the extreme heat of spring and summer. Its damm hot here now and its supposed to be winter lol. Other then the heat im loving it
Never invest in anything in Thailand that you're not willing to walk away from. Always have an exit strategy in case you know what hits the fan. In your other video, you were somewhat praising the lack of regulations such as any Thai national opening up a food stall. But as you mentioned in this video, you can see that some regulations and adherence to best practices, especially in housing construction would be a welcome change in Thailand.
He leaves out this, if you have a Thai wife you can buy land & she owns the land & you have her lease it to you & then she can't make you get off the land, not for 30 years at least. Thats just one way it can be done to protect yourself
Definitely buy a condo in Thailand if you're going to stay forever or a longtime but don't go buying fancy overpriced badly built projects and moan about the maintenance fees rising and no capital gains etc. I'm planning to buy a cheap under one million baht low risk condo that rents easy and is pre worn ie second hand.
Ok I do investments every year and make an average of $1 million plus a year. However the passwords to access these investments are held on an unhackable device unless you have the 24 words to settup the device which then you can make a new device and steal the money. Do I mind buying a 4 million baht condo in my name to protect my assets, answer no. Also if you split with your wife you have a condo and instant access to cash. Do I care if the condo goes down in value, no. Do I care about making profit from the condo, no. Is it just a safe haven for assets, yes.
This video is the most comprehensive and well put together piece you will find on RUclips, it took me 10years to realise what you have pointed out, RENT RENT RENT , it’s a no brainer , no stress, no anxiety and being able to sleep at night is PRICELESS !! Keep them coming Ramze , you have a brilliant way about you for explaining complicated issues very simply, common sense is not that common!☘️🇮🇪🙏
your analogy of living till 85 and needing to renew the lease is flawed. take the same scenario and instead of owning the thai house needing a land lease renewal, you have been renting all that time....is your situation better or worst? Your rent for 30 years is probably more than the cost of buying the home (depending on what was bought). If anything it is the same with the exception of being able sell the home for at least something in the event the lease is not renewed.
Except my money earns me money the entire time which is more than equal to rent and I have unlimited options to move anywhere in the world should my finances, health or unrest happens.
@@RamzeTravels I agree - everyone situation will be different - for me personally, I plan to purchase a condo (in about 1 month) because I will stay there for a few months and travel to other vacation destinations while renting the thai condo out (even if it's $400-$500/month) until I return to Thailand. So, even if my situation changes, I am not dependent on my one retirement home in Thailand bc ill have the ability to stay in other homes. It makes more sense for me to purchase b/c I'm not too concerned with the resale value bc im not looking to invest just to sell it years later. Im simply looking for a 3rd retirement home. Now, with that said....I value your opinion bc you reside there, so do you see any other reasons for me personally to just rent based on my plan? Thanks for the read! (fyi i did watch your entire video lol)
@@AmbitiousBeasts if you are renting during low season you will have to rent it very cheap to get it rented & even then it might not get any takers, in high season it will be easy to rent most likely but high season is the time to be in Thailand yourself
If you had investments it was probably a good time to sell. Million dollar properties versus rent. I don’t like the returns. Small. My super would pay more.
@@gordon.Jacko1055 how much more do you think? The market is fast outpacing itself. Some suburbs are seeing prices drop. Depends where you go atm. All the government needs to do is make some changes which is possible with a change of government .
You would have to be a special kind of stupid if you think you can own a house built on someone's land even if the land is leased. If the relationship sours the family will send you packing quick smart. Thai law almost always favours the locals. But hey simps are a dime a dozen.
Excellent video. I recently had this convo with some friends and I brought up most of the reasons you mention for not buying. I’m also living off rental income. Shame we couldn’t meet when I was in Pattaya… did you get my email? (Michele)
@ oh ok. I was a bit surprised you didn’t reply. But I would also understand. “I’m a stranger off the internet” after all 😆 I’ll try again next time I’m around (February probably)
I'm doing great in Thai real estate. I might make a million USD. US real estate sucks now. Way over valued. We had a near coup in the US, and put the same crook back in power 😅. Same same only same.
Be aware of the Prescription of the Prohibited Occupations for Foreigners from the Ministry of Labor 2563 B.E.(2020) List #1 Occupations that are strictly prohibited to foreigners (19) Brokerage or agency work, except brokerage or agency working in international trade or investment. So if the land or immovable property is in Thailand it is illegal for foreigners to do. This is why to rent out a condo a foreigner must use an agent
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Every day my Thai GF told me to buy a house. Every day for 6 months. I just laughed. Next the whole damn family started telling me at my bday party to buy a “big house”. I was gone the next day. Never even said good bye.
thanks Champ. I never let these greedy families off easy. I always tell them that my wife is “very rich in America” and the court says she must pay me $ 20,000 dollars a month. But she will never divorce me and says I can never buy a house or she will stop the payments. The looks on their faces need no translation! They won’t shut up about it. Especially when I say I am very bad with money.💰 haha
Best thing u did, smart man
Wow another fast learner out of the ocean of fools
You avoided the bullet.
They play sweet and innocent until you purchase a house, then the mask comes off!
As a REALTOR, I agree with you, buying Real Estate in Thailand is not great for non-Thai person. Thailand is great place to rent and have assets in other parts of the world where foreigners are allowed to own Real Estate.
This is one of the best videos I’ve seen on RUclips period. There’s so much misinformation out there and this absolutely nails the truth behind owning property in Thailand as a foreigner 👍
For me, home ownership is a job I don't want in retirement. I don't want to pay to fix things when they fail. A nice 1 bedroom apartment at $450 per month or so...happy days. I don't get farangs who want to live out in the country with the snakes and mosquitoes, surrounded by no one that you can really understand, but as is well said, to each his own.
I'm moving to Pattaya with my family next year. I will be renting for the rest of my life, the lack of permanent residency where anything can change, and the lack of land ownership, is enough for me to never buy a house in Thailand. Besides, renting gives me the freedom to move anytime I want to.
I'm doing the same thing.
Spot on 👊👌
Smart. Never heavily invest where you don’t have legal protection.
Wife and I built. Out in the province. (But not Issan).
I am so sorry I did. She's still ok with family close by.
But I don't like the isolation. Lack of close by medical facilities. And long commutes to Super market.
We have been married for 23 years. I should have known better.
Stay fluid. Be able to adjust and move if need be..
Every day my Thai GF told me to buy a house. Every day for 6 months. I just laughed. Next the whole damn family started telling me at my bday party to buy a “big house”. I was gone the next day. Never even said good bye.
Good perspective Ramze. There's always exceptions and individual situations. Here in Chiang Mai for instance, many Chinese families buy houses, shophouses and townhomes on 90 year leases (not sure how they do that), and it makes sense to them because back in China they can't own property either - it's always shorter than the 70 year lease, and the legal recourse is even weaker than in Thailand.
As for property appreciation. I have been coming to CM for the past few years. There wasn't much appreciation until 2024, but in the last 6 months I do notice a serious uptick, especially in the northwestern portions of the city. Well-placed studios (e.g. right next to the CMU) used to be less than 1m only a year ago, but now into 1.2m to 1.8m THB. 1BRs used to be around 1.5m, now around 2m. Meanwhile the south and eastern portions are stagnant, impacted by the flood. My local friends attribute the increase to the Chinese buyers (particularly in areas like Hang Dong). I personally think it's more of a combination of the Bangkok/Phuket spillover (including some Russian buyers) and the local reshuffling following the September floods. In other words, real estate is not just local. It's hyperlocal.
they are not getting 90 year land leases, they are getting a 30 year lease that is guaranteed to be renewed 2 times for a total of 90 years. This could be changed to a 90 year lease if Thailand changes their laws which is in talks & if you have a 30 year lease it would automatically become a 90 year lease with no need to renew it 2 times if the law changes.
A 30 year lease is the longest legally allowed in Thailand. It has to be entered on the chanote at the land office to be legal. Under Thai law the lease can be extended 1 time for 30 years if agreed to by both parties at the land office. If 1 party doesn't agree the lease ends. After 1 renewal the lease has to be rewritten and re-entered on the chanote. Anything else can be written in a contract but is not enforceable in court
@@oldthaiexpat Correct. You pay a 'freehold' price for a 30 year lease - go figure - and hope that the landlord agrees to extend for a further 30 years at the expiry of the lease.
Real estate in Thailand is a completely different animal from the west. Bottom line: the appreciation isn't there (so it's not a good investment in the first place), plus there are all kinds of ownership restrictions as you mention. Leave your money at home and rent. Fundamental rule of Thailand: keep your assets in Thailand to a minimum.
Depends where and what u buy, I've made more money here on land and houses here than I did in the UK
@@bigal2417 I'm glad to hear that. But very few people have succeeded at that game.
The solution to the foreign home ownership problem, since some will always want to own, has already been worked out. It's a large estate tax. No "colonization" is possible if a decedent owner's estate has to cough up 20% of the value of the property.
Great video. For those who want to buy an apartment and then rent, please find out the actual breakdown of the 51% Thai ownership. If the 51% Thai ownership is owned by only one or two Thai families then your chances of renting your condo is slim. They own half the building which means they control the rental price. Your condo will be rented out only after all other condos in the building are leased. Good luck.
You can own 100% of a condo under the condominium act. What you say applies to free standing homes. They try to sell those homes to farang and some of those houses go 20 million $. The trouble is that when you die, you will lose your money. Your children will be forced to sell the 49% for nothing. Buying a condo in Bangkok, I can understand that. But buying a house or building a house on your spouse name, don't do it. If she dies before you, you can pack your stuff. And most of the times the spouse just stops talking to you and you leave after a while. It's a common story. Farang meets girl in a bar, moves to her village, builds a house, buys a business for the wife and then he can leave. Enjoy Thailand but be smart with your money and always have a plan B. Don't make Thailand the end of the line. You'll end up in horror.
A lot of Thais don't like to buy used and you probably overspent being a foreigner so trying to resell to a Thai is gonna be extra, extra difficult. Not to mention they probably prefer a different style to you. I guess that pretty much leaves only foreigners that you can resell to. There's also talk of increasing the foreign quota for condos so all of a sudden there are a lot of extra condos available, that can't be good for resale value.
I agree right off the bat if condos go to say 75% foreign ownership to 25% thai ownership the market will get a little saturated but at the same time many condo complexes have to charge the foreign owners 2 times the maintenance fee because the 51% for thai ownership go 40% unsold & to properly maintain the building & pool & pay the security the slack has to be picked up by the foreign owners thus they pay 2x the fees & so that would go down & I really think if it went to a 75% to 25% ratio the units that would now be available would get snatched up pretty fast, within 2 years easy if not even less time.
Also at a 75% to 25% ratio that could make values go up more in the long run especially if there is a huge influx of westerners & or chinese that move there or just invest there to rent out to the new people coming over & more westerners or foreigners would own the condos so the rents would go up because as it is now its cheaper to rent from a thai than to rent form a foreigner. Also IMHO if you buy only buy with a close sea view or basically on a beach as there is only a limited amount of those condos no matter what happens! Steer clear of inland condos that are a dime a dozen!
Thanks for the info
I appreciate you alluding to Medellin 🙏🏻
Great video!! It’s great you can open up other people eyes. Blessings.
I don't get why foreigners feel the strong urge to buy into a country and get creative about land and property ownership when the laws are specifically enacted to protect against that activity. Many Asian countries do not want their land bought out from under them.
Trying to run rings around laws is a no win situation because laws can be amended to further tighten restrictions. Perhaps an individual foreigner is a nice guy and local officials look the other way until the friendly official is reassigned or retires and the new guy wants to show who is boss. What then?
And people quickly forget the issues caused in their own countries by property being sold to foreign investors. People are stupid. And it’s stupid people who are the ones who only ever made any decent amount of money in their lives by “investing” in property. Of course, they’d fight tooth and nail to prevent their only success from being taken away for the sake of society at large. So, society at large gets destroyed whilst the few enrich themselves. It’s dog eat dog in this world, in spite of the charade of it being a “community”.
Rent: 18,000 Baht, Internet: 500 Baht Electric & Water: 1,600 Baht. The freedom to give 30 days notice and drop my keys off: PRICELESS. There are some things money can’t buy. For everything else, there’s Mastercard. 😁
🤣🤣
We moved into the house that I had built last month. I’m well aware of the risks. All good so far. 😂😂😂😂
Brilliant video 👍 Thanks.
I think the most I would do is one of the small prefabs or a container house on some leased land. Happy to rent.
Let’s throw one more monkey wrench into the analysis; assuming this new tax on remitted funds becomes law and the fact that most property purchases by foreigners are in cash; how would you like to be taxed an additional 35% on the purchase price of your new home?
Ramze, I see your point. However getting 30+30+30 years lease deeds framed by well reputed Thai lawyers and such lease provided by the local developer probably makes it pretty solid legally to live ones rest of the retired life. After that, who knows. Selling that by your kids after surely will not an easy task unless these are located in well developed retirement communities such as in Hua Hin. Other western retirees can buy these, simply because there will be a constant stream of western retirees in future wanting to live in Thailand. The west is almost becoming unmanageable for low and middle financial level retirees.
if the west is getting so bad then more & more & more will move to places like thailand & then thailand will be just as bad because housing & rent costs will go up & up along with food & everything else. This could make owning a home & leasing the land a better deal in the future. In 15 years rent could double in thailand if there is a lot of influx, see florida for an example, 15 years ago florida was a cheap state to own a home in, now its not even remotely cheap.
No such thing as a 30+30+30 lease. 30 years is the longest legally allowed in Thailand and must be entered on the chanote. After the first 30 years a second 30 years is allowed if agreed to by both parties at the land office. If 1 party doesn't agree the lease ends. If at the second leases end both parties want to continue the lease must be re-registered at the land office. Also for the lease to be passed on to someone it would have to be changed at the land office on the chanote with the land owners permission. Anything else can be in a contract but isn't enforceable
Problem with that is even if 99 lease if u want to sell halfway through, it's not an attractive investment for the next buyer as they will need to either renegotiate the lease or see it to end of lease and then have the stress of not knowing if they can extend for another 99 years, too much hassle! Too hard = insecurity = nervous investor. Forget it. I would rather buy another house at home and live off the rent. It's cheap enough and provides more flexibility.
@@ratnoinamaew7822 there is a problem with renting a house out in your home country & living over seas, insurance, property tax & repairs are a given & are all costs that just keep going up & up & you are lucky to get a good tenant, if not you may need to sue the people. You can hire a management co sure but then you are making even less. If you are making 5%-6% a year after all costs that's not worth it! A high yield checking/savings account is nearly 5% APR with no headache at all ever. Or an index fund that can yield you 6-9% per year. I personally do not want own & rent in my home country & have to deal with that potential headache. Much easier ways to make the same or better returns on your cash IMO. Heck selling stock options can yield an easy 2% per month, thats 24% per year!
Good content … it amazes me ANY person with ANY real knowledge of smart investments would even think about this here but I see it OFTEN here in Thailand with foreigners
Buy S&P 500 shares that have a proven 10% yearly return and use that money to rent. How difficult can it be? Rental prices are usually below 5% of the purchase price of the house. So if a house is 100K$, you'll pay less than 5K$ yearly rent. Buying is not exactly a good investment.
@ Buying is DEFINITELY not smart to do in Thailand as a foreigner in my opinion from buying condos here which also won’t get you rich unless buying buildings but if you can run it through a business with a Thai partner and buy Thai quota price and have a lawyer make paperwork saying you have ownership then it makes sense only but I still wouldn’t do … I know people who have and lost ALOT of baht lol
I wouldn't invest a dime in Thailand.
No way not in your thai wife names either.
Because the laws not protecting anybody but thai citizens only .so why would anyone want to play russian roulette with your retirement money.
Thanks for voicing your opinion. Just maybe, the government will hear you, and change a few laws. The Thai's are trying to attract people like you, and keep you there. You are letting them know what will make your stay better. Thanks for your public service.
I hope not, land should not be owned by foreigners
You're sarcastic? Right? Read the blue diamond story on wikipedia to get a grip on how Thai government operates and thinks. They are not exactly good in the financial side of things.
Another GREAT video!!! thank you for the information- what part of Thailand do you live in?
Half hour out of Pattaya.
Ramze, excellent commentary. Right now, the authorities are cracking down on nominee structures, particularly in Phuket, Koh Samui, Hua Hin, Bangkok, Pattaya ... .
Good video, our entire family is moving to Thailand. Thank you for sharing
100% agree with you....renting is so cheap in Thailand and so many options.
For me investing in a property would be a huge chunk of my money and I'm just not willing to risk that.
Thanks for geeat informative video 👍
Fortunately I’m in the latter category. Not going anywhere. 16 years with my Thai wife and raising our child here. Money is no issue for me and never will be. I’ll also be a Thai citizen within the next 18 months.
Very useful info brother! Thanks!
I'm glad you found it helpful! 🙏
Imagine a place where houses are homes, not investments. Where everyday, working class people can afford to buy a home in the area they work. Where the next generation isn’t robbed by the previous one. Where society isn’t divided into the “landed gentry” and the “surfs” who are forced to pay inflated rent to make others rich. Where the ladder isn’t pulled up by the rich to deliberately keep the rest down.
Make money by creating something. By providing a service. By contributing to the world. Not by stealing from those in your wake.
Actually, it's the upper middle class doing most of the robbing. The "landed gentry" don't bother collecting rents. Their gig is owning empty houses, and sometimes farms.
I would also never buy a home in Thailand IF we were just a foreign couple, or if I cannot afford it walk away.
However, there are many good reasons to buy a home when you have a Thai spouse, and you can make money with your home (we do Airbnb with a good location).
What is crucial is to use a skillful real estate lawyer who can set up a lifetime land usufruct, wills, testaments, etc which means if something goes wrong, you still have some protection to sell it or keep living on it in case she goes before you.
All in all a great video 🙏
You’re forgot to mention that in the case of divorce in most countries in the world the woman will be given the house you own or paid for. In the case of death, as long as the Thai spouse has made a will she can pass ownership to the farang who can then legally own the land but only for one year. They will have to sell the property in that case.
You're a fast learner for just a year in Thailand, you hit on every valid reason not to buy. Being in the EPC industry, I would routinely observe construction in Bangkok...there is no trained workforce, no quality, no safety, no supervision, no quality materials, no material testing, no proper pipe/wire runs, and so on...and it was not uncommon to see workers (some with wife/kids) living in an under construction building...cooking, washing, etc....after the sun went down. I was in one apartment where they mixed the grey and black water lines...imagine the smell coming from the floor drains.
I’ve been through this in other countries and my business was rental properties in foreign countries. It mostly applies here. Thanks for the great comment!
Everything is low quality. I stayed in new build condo's and everything was already falling apart. There is always the exception. The Chinese owner of the shangri la hotel chain is also a real estate developer in Thailand. His buildings are top quality. If you know something about construction, you notice right away. And when you stay in one of his condo's you just feel the difference. You don't need the AC on at night to keep your room cool.
Great advice 👏👏👏
Very true!!! Thanks for the info
I agree 100%. Way too risky and why imvest in a depreciating asset with no security. I rent in Chiang Mai currently. I have a Laos wife and did buy a plot of land under her name there which is purely an investment for our daughters future.
Too late, I bought an investment villa last week 7.5m baht and almost a 10% return with the tenants who moved in the next day…….. huay yai 3 bed, 2 bath, 380sqm new build pool villa fully furnished
Yeah, good one and good luck 😳
@@gordon.Jacko1055time will tell but I’m sick of dealing with the over regulation of rental properties in the uk amongst a lot of other factors in the west and it is only getting worse. At least over here, owners have a lot more control over their investment properties ie if someone doesn’t pay their rent, you can evict them after 3 days and it is perfectly legal
I wish you luck, you might need it!
Very bad decision. Enjoy the ride!
@@thomasclementz8149those who can do, those who can’t talk 😉
Great video! Thanks 🙏
Most farangs that buy houses do it for their partners, a demonstration of our affection. Given that many of us are north of 60, it falks into the "You can't take it with you" category.
Totally agree!!!!!! Not just for partners though. Not trying to go for an investment because the investment can’t be taken with you. Live til the end!!!!
Well presented. Have you heard about senior living places in Thailand?
There seems to be a trend of retirement or old age communities popping up. Where they sell you a $200k and up condo or house with a just under $2k a month services fee. For on call nurses etc.
Seems so much cheaper than the States but why buy the home you don’t really own?
Liquidity seems to be number one problem!
I crunched the numbers comparing renting versus owning. I own a foreign quota condo. If I stay in my condo for 14.2 years, it will have paid for itself.
Every day my Thai GF told me to buy a house. Every day for 6 months. I just laughed. Next the whole damn family started telling me at my bday party to buy a “big house”. I was gone the next day. Never even said good bye.
@@Pattayaman999 Condo in ur name vs House in her name, or land. Totally different animals.
I have played with these numbers before & thats not at all what i came up with, I think it was double that to break even for the numbers I was playing with. My numbers were for a close sea view or basically on the beach condo & buying vs renting was pretty big. Like I said I know it was well north of 20 years to break even if I bought for cash & that doesn't even figure in what I could have been making in the stock market on that money if not using it to buy the condo with. In the long run I was coming out way way behind especially if I was reinvesting the stock market profits compounding it every year or every month
@@robertpierpont2262 Everything depends on the deal. I bought a unit 5 min from the beach, 10+ years old Pratumnak condo. It sold for 31% discount. So it made sense for me.
Yeah now it s deff 20 years to get back your own money.
You can't take the stock market as a reference because if it went down for 10 years you will choose something else to compare.
Also I play with chat GPT and I ask him in the worst scenario possible if I own a house or condo what are the risk in % I lose it
1-2% to lose my condo freehold
10% to lose my house
Thanks for very good informations , yes American Dream was for everyone in this world to work and have a house and land in short time to have American feelings about ,
I think the best option would be to buy a house only when you have a child with your Thai wife. Then have the house put in the child's name. Is that a better idea you think?
You just moved to third in line 😂
But at least your child has something for the future.
Very much food for thought people!
buying is always better then renting you would always pay more in renting over the years so if you so called own the house and lease the land you still made out good and got your money worth and stll paid lesser or the same amount in rent regardless of what happened and if you got thai kids the house can go to the kids buying is always better the renting if you there long term if something happens and you get kicked out the country after some years you still got your money worth
If the LLC is trading legally, then it’s no problem to buy a property in this way. It takes one trade, that’s all, do the accounts, file them, that’ll do.
False. The trading has to reasonably require use of land.
@ your sentence doesn’t make any sense.
Renting is the BEST option.
As an expat - one will never be a Thai. Expats will not ever have the same rights as a Thai. Renting gives one the ability to move if they encounter an y issues. Rent is just too damn cheap. $150 a month for a small 1 bedroom, that is comfortable! Yes, that’s $150! Always rent. Always rent cheap.
I don’t mind living cheap and small. Not everyone can do it. I feel if the way to go is renting - make that monthly living expense as small as possible.
“Locals always win.” So very true!
It’s hard to pull up stakes and move to the next town over if one is locked into a condo/house.
if you are renting & staying in a 150$ month place then yes rent.. you are not living on a beach in a populated area where people want to be for 150$ tho, not even almost & many people want that beach side, sea view condo that is 650-800-1000 or more a month for 40 - 50 - 60 - 70 square meters.
@ agreed. It’s unlikely to be near a beach - but the beach is likely reachable by bus. Lotta guys up in Isaan doing stuff like this. They save money up there, focus on their health care, savings, and well-being, then head down to places like Pattaya for a weekend of fun. Pretty decent way to save money when temptations aren’t in your face 24/7.
@@JeffWittyArt oh I understand & I have seen unfurnished homes just a few (like 5-6 blocks) off the beach for $150 mo rent not long ago, forget exactly where it was now, I'll have to find that video again
Spot on!
You can become a Thai citizen if you really do want to stay and not worry.
Mark Abbott and Benjamin over at integrity legal both have videos about it. FWIR one of the first steps is paying Thai taxes for 5 years and a ton of paperwork. So it doesn't sound easy (it probably shouldn't be) or fast (is anything there?). lol
But there is a path, start with talking to a lawyer if you are serious.
I am not a lawyer so do your own looking. lol CYA
Great video as always.
All that agg to buy a house?
Do me a favour...
Mr. Common Sense! Great points! What I like most is that you are comprehensive. The good, the bad, and the ugly! Thank you again.
i was born in thailand and moved to the US when i was a child as a refugee, but i still have my thai citizenship. This means that i don't have the limitations that typical expats does and can legally own land.
Much better situation 🙂
Do you have dual citizenship (Thai & US)?
@@txg161 yes, unlike that us, you can only gain citizenship if you were born there or if one of you parent have citizenship
Everyone who leases and thinks they have a 30 year lease with 2 30 year renewals should read Thai civil and commercial code sections 537 to 571. Section 540 says the longest lease allowed under Thai law is 30 years and any longer lease is aitomatically reduced to 30 years when registered at the land office. Also pre-signed or pre-agreed lease renewals are not accepted under Thai law section 546. Also under section 546 it states a lease more than 3 years on the chanote can only be renewed once the original lease expires. Thai law online has all these laws and sections online. Be cautious of any lawyer or adviser, Thai or otherwise, who says anything else
Very interesting!
I ask ask chat GPT the worst scenario possible if I own a house or condo what are the risk in % I lose it
1-2% to lose my condo freehold (condo already build)
10% to lose my house
(GPT mentions that change of law could increase the % risk)
And we all know that government love to change the law 😂
I dont put my trust in them
And also for wait 20 years to get my full return forget it
I rather buy BKR (Warren Buffet company)
Absolutely agree with you. Rent rent rent. It’s almost free.
Great vid. This guy is onto it. Currently in Phuket. Been coming here for 15 years. Got a lot of stories that prove you have ZERO rights here. That’s a fact. If things go belly up, you are screwed. There are so many dumb-arse guys here that let their egos run wild and make stupid decisions with both bar girls and property. No shade on Thai women, there are plenty that are wonderful, but stay away from people that see you only as a transaction. I’ve seen so many lose everything. NEVER buy here. NEVER. Just rent - always. Things turn on a dime here, be smart. Keep everything at arms length and you will have the best time.
Everything you say very true...I'm living in Thailand 6 years permanent...made mistake trying to flip homes....
Ive been in Bangkok now for 2 days and i dont know how you guys deal with the extreme heat of spring and summer. Its damm hot here now and its supposed to be winter lol. Other then the heat im loving it
It is bloody hot. No climate is perfect. I tend to live at night and sleep in the day.
From one Vegas man to another I need to tip my hat to you
I appreciate the love from fellow Vegas folks!
Renting is so cheap in Thailand that I just can't understand why would anyone want to buy house/ condo here.
Never invest in anything in Thailand that you're not willing to walk away from. Always have an exit strategy in case you know what hits the fan. In your other video, you were somewhat praising the lack of regulations such as any Thai national opening up a food stall. But as you mentioned in this video, you can see that some regulations and adherence to best practices, especially in housing construction would be a welcome change in Thailand.
What about the construction of high rise buildings? Safe?
Safe? Probably. Quality and well maintained into the future? No in my opinion.
Fees bringing money is about 40 or 50 usd 😂
I will tell you why i bought a house in Thailand, cos i made over 30 million baht on it in 12 years.😅
Can get a yellow book then a usufruct also.
Are leases enforceable in Thailand?
yes, as long as it's legally done
He leaves out this, if you have a Thai wife you can buy land & she owns the land & you have her lease it to you & then she can't make you get off the land, not for 30 years at least. Thats just one way it can be done to protect yourself
@@robertpierpont2262Thai nominee law
The more ironclad the legal protection gets , the greater the potential that mysterious fires or slipping in the bathroom will happen to a person.
@@tubewatcher3100 this is probably true, trust me I wouldn't do it!
True, invest in your own country and live in thailand from the rent
Definitely buy a condo in Thailand if you're going to stay forever or a longtime but don't go buying fancy overpriced badly built projects and moan about the maintenance fees rising and no capital gains etc.
I'm planning to buy a cheap under one million baht low risk condo that rents easy and is pre worn ie second hand.
Ok I do investments every year and make an average of $1 million plus a year. However the passwords to access these investments are held on an unhackable device unless you have the 24 words to settup the device which then you can make a new device and steal the money. Do I mind buying a 4 million baht condo in my name to protect my assets, answer no. Also if you split with your wife you have a condo and instant access to cash. Do I care if the condo goes down in value, no. Do I care about making profit from the condo, no. Is it just a safe haven for assets, yes.
This video is the most comprehensive and well put together piece you will find on RUclips, it took me 10years to realise what you have pointed out, RENT RENT RENT , it’s a no brainer , no stress, no anxiety and being able to sleep at night is PRICELESS !!
Keep them coming Ramze , you have a brilliant way about you for explaining complicated issues very simply, common sense is not that common!☘️🇮🇪🙏
Thank you for the kind words!
RENT. RENT, RENT. Have some respect for your hard earned money and 💪💪
your analogy of living till 85 and needing to renew the lease is flawed. take the same scenario and instead of owning the thai house needing a land lease renewal, you have been renting all that time....is your situation better or worst? Your rent for 30 years is probably more than the cost of buying the home (depending on what was bought). If anything it is the same with the exception of being able sell the home for at least something in the event the lease is not renewed.
Except my money earns me money the entire time which is more than equal to rent and I have unlimited options to move anywhere in the world should my finances, health or unrest happens.
@@RamzeTravels1m% correct ✅
@@duke9657 What does a locally built cement home look like after just 20 years around here?...🤔😬.. Good resale?
@@RamzeTravels I agree - everyone situation will be different - for me personally, I plan to purchase a condo (in about 1 month) because I will stay there for a few months and travel to other vacation destinations while renting the thai condo out (even if it's $400-$500/month) until I return to Thailand. So, even if my situation changes, I am not dependent on my one retirement home in Thailand bc ill have the ability to stay in other homes. It makes more sense for me to purchase b/c I'm not too concerned with the resale value bc im not looking to invest just to sell it years later. Im simply looking for a 3rd retirement home. Now, with that said....I value your opinion bc you reside there, so do you see any other reasons for me personally to just rent based on my plan? Thanks for the read! (fyi i did watch your entire video lol)
@@AmbitiousBeasts if you are renting during low season you will have to rent it very cheap to get it rented & even then it might not get any takers, in high season it will be easy to rent most likely but high season is the time to be in Thailand yourself
I’m Australian and I would only invest in Australia. The returns are a lot higher and safer 🤔
AU is unsustainable pace. Unless you all want to become overnight hundred millionaires
And then bread will be a million
expensive, I don’t know about unstable pace Don’t know what that means. 🥴
If you had investments it was probably a good time to sell. Million dollar properties versus rent. I don’t like the returns. Small. My super would pay more.
@ well, the idea is to gain an income from your rent and your super why would you sell when prices just keep going up?
@@gordon.Jacko1055 how much more do you think? The market is fast outpacing itself. Some suburbs are seeing prices drop. Depends where you go atm. All the government needs to do is make some changes which is possible with a change of government .
Great great great!,,,
Am for Westerners buying homes
Thats how we keep the rental prices low
I agree
There is no such thing as a foreigner buying a home in Thailand for reasons discussed. If you hand money over then you can kiss it good bye.
You would have to be a special kind of stupid if you think you can own a house built on someone's land even if the land is leased. If the relationship sours the family will send you packing quick smart. Thai law almost always favours the locals. But hey simps are a dime a dozen.
Excellent video. I recently had this convo with some friends and I brought up most of the reasons you mention for not buying.
I’m also living off rental income. Shame we couldn’t meet when I was in Pattaya… did you get my email? (Michele)
I don’t recall seeing it 😕
@ oh ok. I was a bit surprised you didn’t reply. But I would also understand. “I’m a stranger off the internet” after all 😆
I’ll try again next time I’m around (February probably)
Are you Italian?
Born in Italy, been living in London for 30 years
@@MrSpock71 piacere, hai il mio stesso nome!
Good video
I'm doing great in Thai real estate. I might make a million USD. US real estate sucks now. Way over valued. We had a near coup in the US, and put the same crook back in power 😅. Same same only same.
Be aware of the Prescription of the Prohibited Occupations for Foreigners from the Ministry of Labor 2563 B.E.(2020) List #1 Occupations that are strictly prohibited to foreigners (19) Brokerage or agency work, except brokerage or agency working in international trade or investment. So if the land or immovable property is in Thailand it is illegal for foreigners to do. This is why to rent out a condo a foreigner must use an agent