Why do many expats in Thailand recommend renting over buying a property?

Renting means you don't have fixed assets or liabilities. I'm with you on this. The only proviso is I've been married to my thai wife for over 20 years and the trust is absolute both ways. As a singleton it is a bit more complicated. I always consider renting as dead money you can afford to lose, but consumer items are always like that in any case. Best of luck.

Too many cons owning a condo and i rented over 10 years in bkk, and from that experience would never buy a condo. I am happy in an Issan village in the wifes house where the neighbors and her family are some distance away! Simple advice: don't spend more than you can afford to loose.

If you rent and he neighbours change for the worst then you move. You cant do that if you've bought. If the building is not maintained well and you rent, you just move. You cant do that if you've bought and who would buy. Just rent!

We bought a condo near Ban Phe, completely renovated it from a she'll, held it for 10 years then sold. Initial total cost was about $AUD100,000. Net proceeds from eventual sale was $AUD74,000. So we "lost" money. Mitigating factors? We only invested what we could afford to lose. The "loss" included 10 years of depreciation on furniture and fittings. We made some money over that time on Air BNB. We got a lot of pleasure out of the home we had created. We had some wonderful holidays and long stays, getting to know the people and the district. We felt brave and adventurous (we WERE brave and adventurous). We sold to an Australian man and his Thai wife... they have offered us to stay for a holiday any time we like. We learnt a lot. We have no regrets. Thank you Thailand. I'm 75 next birthday. 💚💚💚

Definitely do not buy. Renting - you get what you pay for. With the wisdom you have acquired, your next rental will be your best.

Mostly advice given about properly and woman only.

It really comes down to individual circumstances. Buying real estate abroad carries the exact same ownership rights and responsibilities as owning property in your home country. The main difference in Thailand is navigating long-term residency rules. But as long as you hold a reliable long-term visa—or actively pursue Thai citizenship—the risks are manageable. If you have a solid legal setup, the security is no different than anywhere else

The "don't buy" people are usually people who can't buy, or don't choose to, but have a PhD in barstool consulting. I have a thai wife as well and anything we buy, goes in her name to avoid any silliness.

That being said, you really can't outright own land here. I don't know the specifics 100%, but be sensible and be aware of the laws. Chatgpt can give you the majority of them clearly. Nominees will get you grief, so avoid it, unless you are legitimate business partners with them. Don't cheat or skate the laws and you SHOULD be ok.

Short term rentals give you the flexibility when you are retired to go from place to place and live all over the country/countries to find a place that you want to live permanently. Go live 3 months in Thailand, Bali or Portugal. Travel all over and you are not stuck in one place.

A lot will depend on your age and how you see your future. The thing to consider above all is in what area do you want to live. From that you need to look whether there are equivalent properties to rent or to buy (or have your own built). It is all very well to say rent but if there are no type of properties that you would consider renting, buying is the only option.

How much are you willing to compromise in where you would ideally want to live. If you buy, is it a new build or secondhand. How much do you think the area will change in the future. Clearly, beach resorts will develop more than established cities where much will be redevelopment.

I worked in Bangkok building condominiums in the 1990s and they said there was an over supply then. Then came the financial crash but housing development recovered. There has always been an over supply (to Western eyes) of new apartments in places like Bangkok. Eventually, they do sell but not at prime prices.

I rent because I want the freedom to move quickly if something goes wrong with the place or if I end up with new neighbors that bug me.

If I owned the place, I might get stuck with. A big repair bill and the headaches of finding a good repair person which is not easy in all Thai cities.

If I had tons of disposable income and could buy a place knowing that I might have to take a loss at selling time, then maybe I would not mind.

When I rent, I just assume I will lose the deposit and I factor in as part of my living expenses. I got all my deposit back on my first rental in Thailand and counted myself as lucky.

I don’t use enough electricity for the utilities price to be a factor towards buying a place.

The cleaning fee of 2k Thb vs the actual amount to cleaning lady is about 50 usd difference. I would not use this as a deciding factor towards buying buy a house or condo for my situation. My last lease it was only 1k Thb and no fee in my current lease so maybe you could negotiate this amount I. Your future leases if it bugs you enough. I stayed in my last place 3 years and I hope to stay at my current place way longer so an exit cleaning fee is not that big a deal for me. Also you could ask for the fee to be reduced before you sign your lease.

I enjoy owning my condo, I can sell it anytime one's in my building have moved within 3 months had a competitive price and even more than I thought mine for. The best thing was it was brand new when I moved in no one else's DNA if you know what I mean 🤙🏼

You have to remember that 99% of expats are too broke to buy anything.

Just look how few can even afford a car !

When I first visited Thailand almost twenty years ago you could buy nice condos off the plan in a new development in Chiangmai for 1 to 1.5 million baht. I checked the price of units in the same complex last year and they were asking the same price , fully furnished . Not a great investment .

It makes sense if you plan on retiring here and plan to spend the rest of your days here.

There are also many older condo developments that are falling into decrepitude due to the service fees being too low to cover ongoing maintenance .

For many people the flexibility of renting makes more sense. It will be different for everyone.

Thai people don't want to buy second hand so there will be a limited market for property owned by a foreigner.

Is cause short for because?

The rental returns are so low. If you have the funds to buy an apartment, you could invest those offshore and earn enough return to rent 2 or 3 places and still have the freedom to relocate at any time.

Renting is dead money, but buying is easier than selling. So it would depend how long you planned to stay.

If renting small things is not working out for you, imagine tying up a big chunk of your capital in something that also does not work out for you. Either is a big expense but renting costs much less and maintains your freedom.

We bought in a good area with high rental yields. So we leave for the high season and rent our house for a song. We get to do what we want with it and aren't getting fleeced renting. We can also sell for easily what we bought it for. Even if you did a 30 year you'd be ahead at the end of the term.

Having lived here for 14 years, married to a Thai wife and bought both a condo & house (in wife's name) here's my take, and warning that it's quite a long one. This is from what I've picked up and I am by no means an expert so check on what I say before you make a purchase. As a forigner you can't own land in Thailand buy you can own a condo or the house that sits on land that you don't own and have a lease on it. There has been a long standing method of using a 'Thai company' with you as a 49% owner to buy a house, this appears to be a major problem now and the government are clamping down on it and unless the other 'directors' are actively involved in the company it's illegal (apparently) even though it's been pushed by both estate agents & lawyers for years. If you want to buy a condo then you have to buy one that is 'foreign owner' and a high percentage of a condo block are restricted to Thai owners. The problem with selling a condo is that due to the number of often unsold Thai owner condos it means that you will only be able to sell to a foreigner which might make it more difficult, Thai can also own 'foreign owner codod and sometimes do as it make selling them easier. A Condo will have quite high annual fees and a lot of the older condo blocks do very little for those fees, I have friends in older condos that are litterally falling apart and no maintenance is being done. The advantage of renting a house is that you can move at the end of the rental term and as I have found out you can be very happy with the house and area until a disruptive neighbour moves in either renting or buying a house near you and there is nothing you can do except move and if you have bought then you are stuck. Be aware that it's often very difficult to get back the deposite when you leave, this is one of the main complaints about renting. The final part is that unlike Europe the housing market is not good with almost limitless housing being built in the cities so the house value is more likely to drop than increase and remembering that most of us have retired to Thailand so we are not looking at living in a house for many decades so the difference in what we spend on buying and renting is not so great. And finally for me I now live in a newly built gated community with a house that I would put as 'not cheap' so we have good neighbours (at the moment) and I consider the house as something I want to leave my wife when I die so I have bought in my wife's name.

You have to find a lovely and kind landlady. And you have to buy a motorcycle. Then you're home free. If you buy you'll probably l get ripped off with every repair and you'll sell at a big loss--if you can sell. Good luck.

One thing I haven't seen mentioned yet is the lack of building/zoning codes here; if your quiet next door neighbor moves away or dies, there is nothing to stop someone building a disco, cement factory, or chicken processing plant on their lot, making your property unliveable and unsellable.

Generally the advice of rent don't buy, is referring to real estate. Not aimed at other goods.

The problem with renting is the furniture is always poor quality and you either got to grin and bear it or buy your own good quality. If the landlord decides one day to take back your rental you would have a problem finding another empty unit to move to. Owning your unit eliminates this problem plus if you buy in the right area it will appreciate in time. I know several people that bought and sold and made money.

One of the best values is renting here … that is what I always say! That gives you flexibility too and eliminates down side risk …. I don’t see the market liquidity here that you have in the states.

The news is filled with problems of foreigners who bought a home with a lawyer by setting up a business entity … which has always been illegal the way it was done, but foreigners trusted the attorneys and are reassured by all … but now the government is cracking down and foreigners are the ones in legal jeopardy… seems wrong in so many ways but this is a risk!

But ….

I am married, have a Thai wife, everything is in her name. We bought beach front land and are building our own designed home. We plan to stay there for many years … but we bought the site next to us to make our lot bigger … and we have built a small pool villa 2 bed 1 bath 2 car garage and a 2nd out door kitchen by the pool…. We hope to sell it for a profit…. But plan to hold it for up to a year … if it doesn’t sell we will do a rental …. But we feel like being on the beach has put us in a more marketable location…. We are talking about 8 million baht … so living on a beach in a new home for under $250,000 seems like a great value to me… but we will see what happens 🤷‍♂️

Good luck … you might just rent to start out … make sure you like the area before you buy!

Do not listen to so called experts live and do so with what suits you and what you think is best do! Only advice I will say is just do the maths on everything you plan and what you can afford good luck

House doesn't have wheels. You also can't own land.

If you’ve got plenty of cash burning a hole in your pocket that you don't ever need back then go for it...on the other hand, rent is cheap, you can move if and when you want. If you have cash to buy then you can put it to work and the dividends etc will comfortably pay your rent without losing your capital.

Only you can decide. Age has a bit to do with it. At the age of 72 and with a long term visa I wanted my own place in my own style to see out my days, so I bought a two bedroom condo in Nimmanhaimen. I triple glazed the windows and replaced three aircon units with inverter aircon, plus a few other minor improvements. Love living where I am and it will see me out. I rented when younger as it gave me the flexibility to move, but I'm done with moving. Again, at my age (now 77) capital appreciation was not a major consideration.

I purchased my condo and have retired in it for over 4 years. Great location and have never had to worry about a landlord not renewing the lease or jacking the rent to something ridiculous. Didn't buy as an investment.

I went with my Thai wife to look at condos. If we bought it in her name it was 4m baht, in my name it was 6m. That's why you're not getting your money back if you sell it. If you're married to a spouse you can trust then go ahead, if not then renting is probably a better option.

My rental would have taken 63 years to pay off by rent I was paying against listed for sale price.Not including rates etc.

I bought a condo in Jomtien because I like the area, I’ve had it about 9 years now and don’t regret it at all..

To me it’s like owning a caravan, a personal lifestyle choice not a financial decision.

Again... all the "Never buy" knuckleheads are on board. It depends entirely on individual needs. I have a Thai family whom I would like to pass assets down to when I pass, so buying makes sense for me. Bought land 3 years ago in wife's name, built a villa in my name (yes, recorded in the book), bought a new scooter and pick up truck. A little paperwork and I'm good to go for a long time. It's purely situational.

I’ve been renting my motorbike for 3000 per month for a year now. I figure if i bought one, how long before it would be paid off at 3000 per month. I think it would take a year. But with renting I don’t have to worry about green book, DLT, repairs, oil changes, I can hit speed bumps at full speed and not worry about the shocks, etc.

I've been here 12 years and I've been renting I never had a problem never had an issue and now I see more and more condos going up buying a condo it is not going to increase in value it'll tend to stay the same or go down so that's the difference

so unhappy

Don’t think to much bud

Look at condo prices and rental prices. The average return on your investment is usually about 4%. And that is when you are able to rent it out 12 months a year, always. It is financially not interesting. You are better off investing your money in an investment fund. And then there are the horror stories about poor maintenance and unsellable condos if you ever want to leave. All in all, it is not worth the effort.

We built a house, which is in.wifes name as is the land

It’s pretty simple . I’ve owned a condo in Pattaya for 10 years . I love it . It’s not an investment , In fact it’s come down in price . But it’s there for me any time I want it . $1000 a year in fees , it’s peanuts compared with western fees . When I conk out it goes to my wife’s grandson . If you want an investment , buy in your home country and collect the rent .

If you around long enough and know where you want to live for a long time. There is no downside if you find a right place at a right price.

Most parts of Thailand are littered by vacant, low quality properties that depreciates by day. If your life plans change all of a sudden and you need to liquidate your holdings then it will look a bit like a donation spree. Nonthaburi, Pathum Thani and a lot other areas around Bangkok are full with properties for sale. When I go search online I see a lot of properties that has been listed more than 2 or 3 years. Same is true for big motorcycles, automobile values depreciate very fast as well. If losing a lot of your capital while liquidating your property is not a concern then living in your own condo would be a good thing for sure.

At the moment Thailand is in a gigantic bubble of overprized Condos etc.

So: don't buy.

The crash is imminent.

And: even if it was not for that, renting is simply cheaper. And gives you more flexibility to change your place.

There is no point in buying anything, that you can not sell, when you WANT to sell it, because there is no BUYER ...

On top of that, is the post COVID crisis of half a million empty condos and probably a million empty town houses in Bangkok.

The sellers clinger to the old value ... as long as they can. While no one really wants anything.

So if you buy something now, it will be at roughly 50% value in 3, 5 or 7 years.

It's honestly about return on investment honestly. Let's say you spent 10 mil baht on condo and you are saving yourself 25k in rent a month. If you put that same money in the stock market with an 8% return and that would be 60k a month that you can use toward rent. Thai properties are horrible at ROI. I rent a nice 2 bedroom for 60k and it might be flushing it down the toilet but I am getting 100k baht a month from putting that in the market. Of course they will also say that the stock market can tank. We'll if the stock market tank then the housing market will also tank. That property that you bought for 10 mil is not worth 5 mil.

For me 20k baht rent v 20k baht mortgage is a no brainier I’ve had people say to me you won’t get the money back 🤔 are they getting their rent money back 🤣

Some people never buy it in their nature, they probably never bought a property in their home country.

I bought a condo and best decision i ever made. Remodeled to my taste for a fraction of what it would have been in my home country. Probably also depends on affordability. For some renting is far better as you can get a great place for a super reasonable price. For others its more convenient to have your own place etc. Up to you ))

How long you intend to stay what has it cost you in 2 years.

Haven't found many issues with my 30 yr lease; started with a bare peace of land. Added guest house, etc as needed. Continually shocked at low cost of hiring good builders.

I own a condo HOA dues are low. No property taxes. I probably will not get what I paid for it. I had it 3 years no plan on selling. I am happy. Renting is also good and usually cheap. Depends on what you want.

Because you can never truly “own” any property in this country condo house or whatever…. You’re a Farang the authority can do whatever they want

Loads of people are moving out of

Ko Samui & K-p-Y

just look - there's sheds lot's going on

N O W !!!!!!!!

It depends what you want. Convenience of renting if you want to move but it comes with hassles as you have pointed out. If you’re buying to invest you’ll probably be better doing that in your own country as condo properties become less desirable over time. However, if you find a place you like and plan to stay long term then buying could be an option. You’ll probably have to pay common fees like building maintenance and ground rental but no more monthly rents. So if you have the cash to buy it can be an option. I rent because im not certain of my future here but that may change in the future. As they say Up To You.

Renting sucks, it's money down the drain, whichever way you look at it.

If you really really HAVE to buy , buy a Condo , but consider those funds gone as the price will not change and will go down .

But best as you have addressed is to NEVER buy in Thailand as there is simply no value , and it's going to get far far worse , with the current crackdown .

The pool Villa market is now shot , and again is only going one direction .

Yes , I own a Condo , but I rent for my living .

How does it work if you buy a condo or villa and you pass away? Can you leave the property to family ? Just thinking long term, if we were to retire out to Thailand. We wouldn’t want to move around so would prefer our own property. Thanks

If your visa is denied, you have no rights. If you buy, always hire your own lawyer for safety. Do not rely on realtors for financial transactions as Thailand does not regulate the industry and there are no licensed realtors/brokers. Also many condos are vacant, many not paying common fees. As maintenance costs increase hoa fees increase and many non-paying units. Foreigners cannot own property/land. And lease is just not a good financial decision. Also a ton of condos coming to market increasing supply while demand is going down. Find a good entry point.

If you buy a condo, most times, people do not want to used one. They look at a residence like a Toyota, when it’s a few years old, get another new one. They don’t like to buy a secondhand house or apartment because somebody may have died there and put in a ghost. Also, there is a great oversupply of housing, many vacant condos in Bangkok and other places, and if you get a house in a moo baan, which is a suburban development, the common areas and the houses themselves are often not maintained after a while. If you rent the most you’re going to lose is a couple months rent deposit. 

Rent a condo or house, but buy a car or bike if you are staying at least one year. Resale value is high on the vehicles.

How about doing a longer term lease, perhaps 10 years. Is that possible ?

It's worth buying if you plan to live there long term. We bought a condo in Bangkok. It's relatively affordable in Bangkok compared to most major cities, & we have no monthly rent, so very low living costs. But it won't go up in value, so if you're looking to sell after a few years, you won't make a profit. We don't have kids, and are more interested in low monthly costs & intend to stay long term, so makes sense for us. Depends on your circumstances.

The yield on rental property is low - therefore it is more economical to rent. The property market in Bangkok is unpredictable. It is usually difficult to sell the condo.

Always rent from a reputable agent/landlord.

If you do buy, you'll still be paying utility bills and maintenance fees and you'll never get your outlay back. If you rent you can walk away at any time 👍

Do you want the freedom to move without an anchor?

Ownership carries more responsibilities too, all maintenance is yours.

How about your neighbors, I’ve had good and bad.

Neighborhood good and stable for longtime?

Do you get bored easily over time?

Okay to lockup a large amount of $$?

Foreigners pay more than Thais.

Your Condo can only be resold to another foreigner.

Thai real estate market is too unpredictable.

/thailands-condo-market-hits-decade-low-as-transfers-lending-and-new-launches-slump/

The "don't" advice is generally driven by two big concerns - (1) security of title/tenure (how important and grounded a concern this is for an individual depends a lot on how they buy) and (2) property doesn't always behave economically here the way it does in the west, it isn't necessarily an appreciating asset and may behave more like a depreciating consumable product (also variable by place and asset class, but it is a valid concern). How important this is will depend a lot on where you're coming from. You can get an entry level townhome in some places for less than a lot of us would pay just for the deposit/downpayment at home - if that's the case for you, you might not actually care if it depreciates to eventually near worthless (or just takes years to sell). But for some people that might leave them with a serious problem.

Each to there own really, but rents cheap enough here so have flexible of uping and moving when needed. And if own your condo once building is old and run down in future your condo won't be saleable or has lost value, renting takes this risk away. And if you own and sell in the future it's a pain in arse to get money back out of country to your foreign bank account. Thailand is ever changing and one day you may not even get in potential... Renting is safer. I would buy a bike tho and not rent. It'll pay for itself over time and renting something that's been abused and clapped out with no maintenance

Condo’s can be bought in a foreign quota in your name

It’s very rare there is any appreciation

If you want to sell it , the only people that would buy it , would be a foreigner

Been in and out of Thailand for 23 years

Would never buy anything here

But that’s just me

I bought a condo with a foreign freehold. I'm happy with it.