Yes, but you are renting at the mercy of the landlord. Rent could go up or they may want to sell. If we are talking about retirement is that really how you want to live?
Not a big deal with a glut of rental properties available, but for some people that's not really 'home', it's just a temporary arrangement. Also, as one gets older moving all the time is a hassle to put it politely.
As far as buying property you can by a condo box which all look pretty similar to my eye sans the furniture, or you need the land in a Thai's name, or someone said you could do it under a company name but that option does not appear to be very popular (don't you need 51% Thai owned ).
Like I said before, for those who need a stable living situation a property and 30 year fixed interest home loan in your home country may be preferable (if you have credit and can afford the payment).