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What tips do you have for buying a condo in Thailand as an expat planning to retire?
Feb 1, 2024
2 years ago
Fred *********
ORIGINAL POSTERLooking to buy a condo/apartment can anyone give me some tips
I plan to retire in Thailand in the future so
I’m just looking at something I can stay In while I’m in Thailand and maybe rent it out while I’m not in Thailand and move into a bigger house / apartment in the future
All new to this
just wondering if anyone else is doing this or has done it?
Looking for advice:)
I plan to retire in Thailand in the future so
I’m just looking at something I can stay In while I’m in Thailand and maybe rent it out while I’m not in Thailand and move into a bigger house / apartment in the future
All new to this
just wondering if anyone else is doing this or has done it?
Looking for advice:)
TLDR : Answer Summary
The conversation provides insights for an expat looking to buy a condo in Thailand as a potential retirement option. Key points include that foreigners can only own condominiums under certain conditions, specifically if the building is registered under the condominium act with at least 50% ownership by Thais. Many users suggest renting first to understand the area and property market before making a purchase. There are practical tips about the realities of property ownership in Thailand, emphasizing the importance of research and considering long-term implications, such as taxes and maintenance fees. Overall, the consensus leans towards the benefits of renting initially to gauge preferences and the local market.
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Mickey ******
Just rent and stay flexible!
As you can never actually own the house or apartment anyways.
Why stress yourself ?
As you can never actually own the house or apartment anyways.
Why stress yourself ?
Dimitre ***********
Non-Thai freehold condos, beachfront in Patong. Great investment.
Dimitre ***********
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Bruce *****************
I have done the math is not difficult....I am way in front.....rent is dead money , just be careful what you buy, buy well....
Charles ****************
You can get lease and still retire and rent.
If you do the math, leasing will be cheaper.
Renting will get some of that money back.
The defacto word in all of Thailand is never ever buy.
If you do the math, leasing will be cheaper.
Renting will get some of that money back.
The defacto word in all of Thailand is never ever buy.
Brett *****
Buying here is easy, selling is another matter. Just keep that in mind.
Bruce *****************
I bought a condo in Chiangmai where the monthly rent is about 12 000 baht a month...I paid 1,300,000 baht...the condo is in my name......that was 14 years ago, if I had rented today I would have nothing , the condo had given me more than that as I can decorate it and furnish ot however I like, nobody gets inside but me.....the condo management is very good ...... today that condo sells for 1,800,000....to 2,200,000 ....they do change hands fairly quickly as its in a very desirable location......if I rent I would have nothing, zero, zilch and would have paid out 2,016,000 baht ....so now I live for free , no rent just 1000 baht a month condo fees.......clearly if you plan to stay for a number of years buy the condo...if you buy you get your money back over time.....
Steve **********
@Bruce ****************
bought one on 03 for 800k, put 250k onto renov, sold for 1.8, in 05 so was lucky .Don't like condo's nor push button to go home. ' I need a garden '..
Perfectly happy renting.
Not looking for investment, just living comfortably.
Steve **********
What was desirable in Chiangmai many years ago: Hillside 4, The Ping
(was flooded) etc are now just parking lots.
MAYA area is a mess. Also can't live in shoebox size....we're all different.
(was flooded) etc are now just parking lots.
MAYA area is a mess. Also can't live in shoebox size....we're all different.
Bruce *****************
Reply to
Bruce *****************
Reply
John ********
With over
*****
0 condos for sale and rent in Bangkok alone and they are still building them it's not going to end well once you try to sale it your better to rent for a few years to see if you are happyNeil ***********
Rent it’s cheaper and you don’t have to worry about your condo when your gone
Fred *********
ORIGINAL POSTERAfter taking everyone’s advice into consideration being only 28 I think with the job I have I could pay off a 2m baht condo in a year or 2 maybe 3 if I reallly wanted to push it
As I think it would be best to buy before all the taxes come in next year
In saying that I’ve been to pattaya twice now rented a few condos around the city and jontiem beach I’m thinking maybe laguna or somewhere that’s decantly populated and won’t fall into bankruptcy
Some of the bigger projects seem to be more stable there smaller rooms but I also I don’t plan to spend a whole lot of time in the apartment it self but mainly a base to store all my stuff and have the a room I can Allways come back to bring girls
And say I have bad neighbours could I not just rent/ air bnb it out and stay somewhere else ?
Yes renting is good but the dead money at like 120,000 baht per year I feel could be better spent
As I think it would be best to buy before all the taxes come in next year
In saying that I’ve been to pattaya twice now rented a few condos around the city and jontiem beach I’m thinking maybe laguna or somewhere that’s decantly populated and won’t fall into bankruptcy
Some of the bigger projects seem to be more stable there smaller rooms but I also I don’t plan to spend a whole lot of time in the apartment it self but mainly a base to store all my stuff and have the a room I can Allways come back to bring girls
And say I have bad neighbours could I not just rent/ air bnb it out and stay somewhere else ?
Yes renting is good but the dead money at like 120,000 baht per year I feel could be better spent
Elisa **********
@Fred ********
I bought two condos in Bangkok and their return is 10% . One paid 2.3M the other one 5 MKen ******
@Elisa *********
may i know where are the locations?Elisa **********
Ken ******
@Elisa *********
thonglor is the prime or best location in bangkok, maybe you bought some decades ago?Elisa **********
@Ken *****
resales actually. Ideo Morph 38: I bought a 4.5M. And renovated for about 600k. The building is from 2013 and it’s the only pet friendly condo in thong Lor so highly requested 🙏Ken ******
i see, you have found a gem!
Reply to
Ken ******
Reply
Nigel **************
@Fred ********
sounds like u have it all worked out already. Good luck.Graham *******
@Fred ********
the new laws came into force on 1st jan 2024, you will pay them in 2025.Reply to
Graham *******
Reply
Steve **********
Talk to friends you know.
Visit bldg ,talk to owners and tenants.
Due diligence the Juristic Office for the bldg.
Get maint fee.
It's a buyers market big time but realtors tell you otherwise
Often bldg lobby will have ads from owners selling direct.
Always share transfer fee.
Visit bldg ,talk to owners and tenants.
Due diligence the Juristic Office for the bldg.
Get maint fee.
It's a buyers market big time but realtors tell you otherwise
Often bldg lobby will have ads from owners selling direct.
Always share transfer fee.
Ken ******
why concern air pollution?
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558 thai statFred *********
ORIGINAL POSTER@Ken *****
fuck me ayReply to
Fred *********
Reply
Ken ******
better live away from high risk flood areas, and too near BTS as it maybe quite noisy, and live in high floors and away from highways to avoid noise and air pollution, less than one month airbnb is illegal
Ken ******
you probably know all the
pros including cheaper
housing, friendly people,
and culture. Air quality,
floods, public road safety
and pavement conditions
need improvement (just
look up internet for details).
Air quality can be checked
real time downloading
some apps. For long
stayers, there are some
reporting requirements
such as 90days report on
residence, which is not very
convenient. Starting next
year, new tax on remitted
income earned abroad.
pros including cheaper
housing, friendly people,
and culture. Air quality,
floods, public road safety
and pavement conditions
need improvement (just
look up internet for details).
Air quality can be checked
real time downloading
some apps. For long
stayers, there are some
reporting requirements
such as 90days report on
residence, which is not very
convenient. Starting next
year, new tax on remitted
income earned abroad.
Ray *********
Invest the money in the stock market. Better returns and more flexibility for the time when you actually retire. A lot can change before retirement.
Paul *******
You find a Thai partner you buy in their name and be prepared to write it off if it all goes tits up. It’s that simple really. Stay clear of condos, they will tell you anything to sign you up. Beware of the leases on these condos. It ain’t like the uk. If you don’t want to chance it with a Thai partner. Easy just rent, rents are much cheaper here than uk.
Columba **********
Hi Fred I’ve got a 70smt condo in Bangkok city center it’s got a foreign quota I will rent it to you for one year and if your happy with it I would sell it to you then it’s in a great area near SIAM Let me know what you think !
Steve *******
if you are new to thailand read a vg book: "a fool in paradise" saved a lot of grief for a lot of men.
Gordon *******
@Steve ******
Or Money number 1 bookReply to
Gordon *******
Reply
James *********
Just RENT in different condo projects you're interested in, get a feeling for the location, amenities, vibe of the places. If you then still have a desire to own one, you'll be more informed, and better prepared to bet on the one place 🙏
Steve *******
@James ********
100% best advice. He might want to try out Hua Hin, or South, or Chaing mai... or BKK.Reply to
Steve *******
Reply
Steve *******
like Danny says: Been here full-time for 15 years. Never buy anything, just rent! LISTEN TO HIM....that goes for ANYTHING and EVERYTHING - OK i have read all the comments - if you are sure you want to buy and have the extra cash - of course do it - but don't plan on making a bundle like you would in Australia. Long term use - not a bad deal especially since you are young. I used to be a top realtor in Vancouver BC Canada - whenever a new person to the city would come to me i would suggest they rent for a year and get to know the different areas - then call me. I always got the call back. Oh, and they never bought where they rented.
Steve *******
Yes, I have a limited vocabulary at my age - that's the problem. and just an FYI when "I" say never - it's like a dead never, no inflection - flat - as opposed to a British accented "well I never!" - I am the guy in the bush with the 12GA by my side walking in Bear country - So no dramatic exaggeration from me. When I say never it doesn't mean never, it's a figure of speech.
Nick **********
@Steve ******
just not true. Using the word "never" is such a dramatic exaggeration. It all depends on a lot of variables whether renting or buying would be preferable.Gordon *******
@Steve ******
TrueReply to
Gordon *******
Reply
Michael ********
I got a condo in Thonburi BKK few years ago, we rented a unit for 6 months first before deciding to buy make sure suited us.
Value has risen quite well in that area. But didnt buy for investment
Value has risen quite well in that area. But didnt buy for investment
John *******
Easy to buy hard to sell there has never been a good investment and never will be in thailand Chokh di you will need it
Steve **********
@John ******
agree RE in Thsiland for farang usually a very bad investment.But RE attor and agents will tell you opposite.
Reply to
Steve **********
Reply
Steve *******
@Lawyers **********************
best real estate attorneys for expats in Thailand. Can give advice to do a legal purchase by Thai LawDavid **********
@Steve ******
dodgy as.... illegal.Steve *******
@David *********
huh?Reply to
Steve *******
Reply
Steve **********
@Steve ******
can't legally purchase landLawyers will tell you set up company with Thai 's and they sign over proxy.
Lawyers know all proxy holders....think !
Steve *******
@Steve *********
of course you can’t purchase land and no lawyer with anything would tell you to set up a company.Steve **********
@Steve ******
Don't know your province,but can rec :
CSS-Law Office ( Chiangmai )
Chomphol Khatthima
093 947 4254
excel English, also staff and wife...fluent English
'pleasure dealing with them'...very reasonable
Reply to
Steve **********
Reply
Bennett ********
Come to Thailand first, rent or stay in a hotel if it's for short visit, look around, figure out which area suits you, then buy. There are tons of apartments for sale, no need to lock something in before you can see it in person. And whether it makes sense to buy vs. rent depends on your needs. We bought a condo in Bangkok to live in for retirement. Compared to the US it's quite affordable, & we have very little monthly outlay for living expenses. We don't need to rent it out when we're not here, & are not overly concerned if it doesn't go up in value a lot over the years. You may have a different situation.
Steve **********
@Bennett *******
If over 50, retired.. .rent..rent...rentBennett ********
@Steve *********
We're over 50, bought, happy living rent-free. The right decision for us, maybe not for everyone.Reply to
Bennett ********
Reply
Graham *******
if u want a house must be company name, you can own a condo so long as its in foreign quota. Walk the areas first. here is a good place to start research not this group.
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Graham *******
there have been changes to the tax rules so consider how they will affect you.
Steven ***************
Never buy something you cannot own 100%. Especially real estate.
Steve **********
@Steven **************
can't but house, actually can buy one , but put in on rented land.Steve **********
@Steven **************
*condos are inexpensive, *but 49 % pay for 100 maintenance fees, the 51% thais don't.
* Check out juristic ( they manage )
* There's the good, bad and ugly.
Bruce *****************
@Steve *********
your point number one is totally wrong not sure where you heard that, there are laws of procedure in place regarding juristicReply to
Bruce *****************
Reply
Billy *******
@Steven **************
that goes for women tooFred *********
ORIGINAL POSTER@Steven **************
you can never fully own anything anywhere all the government needs to do is wave there magic wand and you don’t own a thingggTony ***********
@Fred ********
to many people use premeditated text without checking before they send … including me 🤣Steven ***************
@Fred ********
. Keep believing that mate.. I have trouble believing people who make two spelling errors in one sentence, no grammar and no punctuation.Reply to
Steven ***************
Reply
Maple *********
You can buy condominium, if you need bigger space rents house you can has long lease 30 years and recontact 2 times totally 90 years.
Steve **********
@Maple ********
hmm!Maple *********
@Steve *********
just a choice.Reply to
Maple *********
Reply
Bob *******
Hi I have a condo in kohn Kaen close to the airport. Had 5 years and has always been rented out
Danny *******
Been here full-time for 15 years. Never buy anything, just rent!
Nick **********
@Danny ******
"Never" is just not true. Depending on one's situation, the choice of condo, etc.. it can definitely be better to buy instead of rent. It just depends on several variables, and because we don't know OP we can absolutely not give advice whether to rent or buy.Not being able to sell is also a myth. Again, depends on the project and location and price.
Steve **********
Nick MuayPlam Rent !....Zero question .
Nick **********
@Steve *********
How would you know each individual's situation ? There are too many variables for which either renting or buying can be a good choice. I definitely know enough people/cases for whom buying was the right decision. Each person has different priorities, needs, financial situation, etc... With the cash some people keep somewhere in a drawer they could buy a small condo near an MRT station.It's like you would advise Zuckerberg to never buy a place here but only rent : makes absolutely zero sense.
Steve **********
Nick MuayPlam and your qualifications ???
Steve **********
Nick MuayPlam ..I've have been 20+ years,
Done both !
Know so many that have done both !
Unless married and living on village with wife's family.
Rent...rent...rent. !
Done both !
Know so many that have done both !
Unless married and living on village with wife's family.
Rent...rent...rent. !
Nick **********
@Steve *********
wow , all black-and-white with absolutely no nuances. And if you're going to play the "i have been here for for xxx years" game : I came here in the late 80's. Meaning you being here 20 years are still new here to me.I don't need "qualifications" : I know enough people who don't regret buying, thereby knowing you're wrong when you say "rent rent rent".
And even so, now you already started to change your opinion by adding "unless married and living in village with wife's family", meaning that you DO believe some situations buying can be o.k. Don't understand the logic though : why would it then be o.k. to by in a village, but not in a city. Again doesn't make sense.
Steve **********
Nick MuayPlam boy...you really are desperate for any level of self- approvation, eh.
Good luck to ya.
Enjoy your dillussions, and am sure youve found a way to justify your mistskes.
Good luck to ya.
Enjoy your dillussions, and am sure youve found a way to justify your mistskes.
Nick **********
@Steve *********
A pseudo psychological evaluation because you ran out of arguements ? 5555Steve **********
Nick MuayPlam no, just bored with the ignorance
of those that hide.
of those that hide.
Why****
Now Now boys... My D*ck is bigger than both of yours. 38yrs. My advice is rent or buy but, always have somebody else pay the bill. There are ways of doing this... After 38yrs you learn things, so, get back to me in a few years and I'll tell you how. Now get on with life... we're all here to support each other, your personal squabbles are a waste of energy to the rest of us. Have a nice day 🙏
Reply to
Why****
Reply
Danny *******
Nick MuayPlam Of course, there can always be exceptions. But after living here for 15 years and having owned and rented that would be my advice. At least take the advice of several other posters and come here and rent to start with. Only then can you really know what it's like and make an informed decision.
Nick **********
@Danny ******
Then your advice should be to live here a while (a few years), rent first and also explain the differences with the real estate situation with their home country.Then it could be that they decide to rent instead. Or it might still be a good decision to buy.
Just saying "NEVER buy" doesn't make sense.
Reply to
Nick **********
Reply
Fred *********
ORIGINAL POSTER@Danny ******
I’m 28 I don’t plan on renting forever hahahaFred *********
ORIGINAL POSTER400-800 $ a month I could pay off a condo in 2-3 years insted of paying dead money to rent 🙂?
David **********
@Fred ********
you are thinking the way things work back home....Nigel **************
@Fred ********
and when u try to sell it you can't, because there are thousands of unsold brand new units here alreadySteve **********
@Nigel *************
' tens ' of thousands.Fred *********
ORIGINAL POSTER@Nigel *************
where these unsold brand new units I need one for 1-2m baht hahaCharles ****************
@Fred ********
You can lease 20 years for that much.Steve **********
@Fred ********
was a time, very avail....no longer, last 10 years, same as west in increase ( no, not price )David **********
Real estate on Thailand is a terrible investment. Renting is very very cheap.
David **********
@Fred ********
you like living in a tiny dog box where you will have to evacuate within minutes if the power goes out? These condos are a nightmare.Nigel **************
@Fred ********
check out all the real estste agents and they will help u find one. There are many at the 2 or 3 million baht mark but they are very small about hotel room size!Danny *******
@Nigel *************
And when you go to resell it some day ... guess what?Danny *******
@Fred ********
$800/month for 3 years is less that $30k. That won't buy a condo?Reply to
Danny *******
Reply
Danny *******
@Fred ********
Why not?Reply to
Danny *******
Reply
Bent *************
I bought my condo in Thonburi 18 yesrs ago. Im there 50% of the yesr.
I have rentes out to friend abd relatives.not allowed skorter time than 3 months. I rentes out to a thai family once! I never dobsgain. They were pigs my condo snekkes like shit when they suddenly left . Refrigerator full of food!
I have rentes out to friend abd relatives.not allowed skorter time than 3 months. I rentes out to a thai family once! I never dobsgain. They were pigs my condo snekkes like shit when they suddenly left . Refrigerator full of food!
Michael ********
@Bent ************
bet that has increased in value 18 years ago was no bts thenBent *************
@Michael *******
Bts opened in 1999Michael ********
@Bent ************
Didnt go pass Saphan Taksin in 1999 and was only 10 years later it went to Thonburi sideReply to
Michael ********
Reply
Kevin *******
@Michael *******
not really I bought in 2004 2.4 maybe get 3.4 if I'm lucky if I'd invested that at 5 % per annum tax free would've more than doubled but I bought it to live in so works out about the same ! Rent only 12k to 16k depending on the season !Reply to
Kevin *******
Reply
Fred *********
ORIGINAL POSTER@Bent ************
yeah I was planning on renting it out to friends who wanna come stay or other falangSteve *******
@Fred ********
yes just get 1st + last+ another month rent for damage upfront from anyone you do not know.Reply to
Steve *******
Reply
Paul ********
I own my condo because it’s in a foreign name. So the Condo block has to be 51% Thai owners and 49% ferlang ownership. A ferlang condo will cost a bit more.
So rent for a bit and get a feel for what you want. I play golf here so getting in and out for that was a priority. Maybe you want the beach or have other interests so just rent while you come over as there are loads of deals out there. Hop all goes well.
So rent for a bit and get a feel for what you want. I play golf here so getting in and out for that was a priority. Maybe you want the beach or have other interests so just rent while you come over as there are loads of deals out there. Hop all goes well.
Matthew *********
@Paul *******
Where do you live in Thailand ? I also wish to play golf when i retire therePaul ********
@Matthew ********
I live in Pattaya atm and have maybe 40 golf courses within 1 hr travel from hereMatthew *********
@Paul *******
Can you advise which part of Pattaya gives you easiest access to a local course. I'm looking at retiring in 2025 and would like to play twice a week or more if money allowsReply to
Matthew *********
Reply
Fred *********
ORIGINAL POSTER@Paul *******
yeah sweet that’s the kinda info I’m looking for thanks for that Paul good on ya mate 🙂Reply to
Fred *********
Reply
Bent *************
He did not sat he wanted to own land!
Chris **********
My advice: better rent a condo or house for 1 year before you buy one
Richard *********
if ur over 70, dont buy , RENT. no hassles, no worries
Rick *********
Richard Reitman Why 70 Richard?
Fred *********
ORIGINAL POSTER@Rick ********
more like don’t spend the rest of ya money on a house when ya could live it upFred *********
ORIGINAL POSTERReply to
Fred *********
Reply
Fred *********
ORIGINAL POSTER@Richard ********
I’m 29Fred *********
ORIGINAL POSTERYeah mate I’m ahead of the curve
Richard *********
@Fred ********
so 21 more years till u reach retirement age here>and ur already thinking of retiring> wow that was the furthest thing from my mind at 29 5555
Reply to
Richard *********
Reply
Brandon ************
You cannot own land. You cannot own an apartment.
The only thing foreigners can own is a condo in a building that's registered under the condominium act, and only if Thai citizens own more than 50% of the units.
You can own a house, but you cannot own the land under it.
Many people talk about creating a company to own the house. But this is illegal in Thailand and at least once a year there's a big news story where a bunch of these companies are investigated and the property seized by the government. These companies are nominee companies which is also illegal in Thailand.
The only thing foreigners can own is a condo in a building that's registered under the condominium act, and only if Thai citizens own more than 50% of the units.
You can own a house, but you cannot own the land under it.
Many people talk about creating a company to own the house. But this is illegal in Thailand and at least once a year there's a big news story where a bunch of these companies are investigated and the property seized by the government. These companies are nominee companies which is also illegal in Thailand.
Xr ***
@Brandon ***********
i'm also guessing you can't rent out the condo, as that requires some sort of company, business license, work visa, etc....Olivier ************
@Xr **
you can rent your condo as a foreigner. Technically you need a Thai person to handle visits and paperwork as this is considered work. Please note that you won't be able to rent your condo legally for period shorter than 1month ( but you will of course find a lot of condos to rent on a daily basis on air bnb...)
Brandon ************
@Xr **
I don't think you need any of those to rent out your own condoXr ***
@Brandon ***********
as thai no.. as foreigner i'm not so sure????Brandon ************
@Xr **
you definitely wouldn't need a work permitReply to
Brandon ************
Reply
Fred *********
ORIGINAL POSTER@Brandon ***********
awsome info thanks 🙂Steve *******
@Fred ********
fact - just happened 2 or 3 months ago...Reply to
Steve *******
Reply
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