munslife Posted March 30, 2019 Share Posted March 30, 2019 (edited) Hi Everyone, I am trying to estimate my cost of living in the Samui island for near future and am looking for references from people who have been living there for sometime. I want to know your overall experience with increase of prices in condo rentals year on year and also general inflation for things like food, transport, etc which we need in our daily life. Of course I know it varies from person to person and place to place but if you have been eating or living in same lace over years probably you can give me an idea how the prices have gone up. This will help me to understand the price increase levels and I will be able to better estimate my future expenses. I am trying to do this analysis for few places like Samui, Phuket, Krabi, Chiang Mai etc. IF there is already a topic on this then please guide me. Thank You in advance for your support. Edited March 30, 2019 by munslife Link to comment Share on other sites More sharing options...
Popular Post Tropicalevo Posted March 31, 2019 Popular Post Share Posted March 31, 2019 (edited) Not sure that I can help much as I do not rent. There are not many condos on Samui. When wifey and I came here 19 years ago, we budgeted a 'top price' meal with a couple of beers and a glass of wine at about 700 baht. (Italian restaurant - no hotel food. Thai food considerably cheaper.) Wifey died two years ago and the price then was nearer 1,400 baht for two in the same restaurant. However, many other Italian restaurants were cheaper, it was just that the one that we used went 'up market'. I almost never eat in the top tourist (more expensive) areas on the island. Chaweng and Fisherman's Village. Cheapest 'local' Thai food here about 40 - 50 baht a meal now. Local transport here is taxis and they are very expensive. They do not use the meter. Songteows (baht buses?) are only on the main roads. Nothing where I live. You need a bike or a car. Utilities where I live are more or less the same price (but from a private supplier). Air fares to Bangkok were 3,500 baht back then. Now 9,000 baht - return prices. The biggest cause of inflation for foreigners in Thailand is the strong baht. My personal view from my travels around - Phuket most expensive. Then Samui, then Chiang Mai (if you can breath). I have not been to Krabi for 19 years! Edited March 31, 2019 by Tropicalevo 4 Link to comment Share on other sites More sharing options...
munslife Posted March 31, 2019 Author Share Posted March 31, 2019 Thanks you so much for your reply. I see that prices have gone up but over a very longer period of time based on your experience. I also got to know from other forum on concern over strong bhat. Thanks again for your reply and look forward to follow more of your advice. Cheers! Link to comment Share on other sites More sharing options...
PoorSucker Posted March 31, 2019 Share Posted March 31, 2019 My experience is that I pay less now than 20 years ago. With experience you know how to haggle and where to shop,some knowledge in Thai makes wonders. Nowadays you have Tesco, BigC, Makro that has the same prices as the rest of Thailand. 2 Link to comment Share on other sites More sharing options...
munslife Posted April 1, 2019 Author Share Posted April 1, 2019 7 hours ago, PoorSucker said: My experience is that I pay less now than 20 years ago. With experience you know how to haggle and where to shop,some knowledge in Thai makes wonders. Nowadays you have Tesco, BigC, Makro that has the same prices as the rest of Thailand. thanks for your reply. Link to comment Share on other sites More sharing options...
Popular Post khunPer Posted April 1, 2019 Popular Post Share Posted April 1, 2019 On 3/30/2019 at 4:21 PM, munslife said: This will help me to understand the price increase levels and I will be able to better estimate my future expenses. I am trying to do this analysis for few places like Samui, Phuket, Krabi, Chiang Mai etc. IF there is already a topic on this then please guide me. Thank You in advance for your support. Living expenses are like a rubber band, purely depending of life-style, but you seem to know that. You can find the consumer price index for Thailand here, 2014 and 2015 equaled index 100, whilst 2013 was 98. Over a 10-year period the price-increase was in total about 18 percent (from about index 86 to circa index 102 now). But its depending what you buy, or use, some prices has increased more than others; A few examples, based on my 15-18 years experience: One liter og fuel (gasoline) was just under 20 baht 15-18 years ago, today one liter gasohol fuel (E20 or gasoline with 10% ethanol) is around 25-30 baht; fuel is a few bath more expensive per liter on an island, due to higher transportation costs. Alcohol and cigarette prices has gone (way) up over 10-15 years due to increased taxes. Electricity seems pretty steady around 4 baht a unit (kWh). Some meat products has gone up by 50 percent in 15 years, meat prices change little up-and-down almost daily. Soft drinks are about same price as before, big bottle brand-name about 25-28 baht, others cheaper, for example Tesco's own brand sells for 19 baht (1.25l, so litter smaller than brand names) with "buy one, get one free". Rents are often a question of location and demand, you can still find nice bungalows for 10,000 baht and less a month when renting long-term – it was around same price level 15 years ago, but some has raised price more than others – there are not that many condos at Samui, but more are being build, most people stay in bungalows and villas. Dining out has in general gone up by 50 percent in average, however some places more; its a question of location, and tourist market, i.e. what tourists are prepared to pay, so dining in a typical tourist area, like Fisherman Village, is more expensive. Cost of living, or a budget, is really depending of which life-style you are aiming for, and for how many people; are you alone, a couple, or a family with children in need of school? Renting a bungalow, house, or villa, with 2 bedrooms can be anything from around 10,000 baht a month – you can still find nice places for that – and up to more than 100,000 baht a month on long term agreements. Dining mainly Western food will often be at similar price level as in your home country or little more, whilst eating Thai food is relative cheap; however still depending of choice of menu, some seafood might increase the cost, as well as tender beef meat (like Tiger Cry). Drinking wine is relative expensive, i.e. same price as in many Western countries, or in some cases even more, also beer can cost more. But that is not local to Samui, but Thailand in general. Song thaews – or "baht bus" – haven't changed much in price over the years, whilst taxis are little (relative) more expensive than before, we have only had metered taxis on the island for about a decade. Car and Motorbike prices are pretty nationwide (for new vehicles), and the car-model I use is almost same price as years ago, whilst motorbikes seem to have increased. I think rental prices has gone slightly up, but the models available might also be newer, and in better condition, than back in the good old Samui-era; so are the roads, i.e. better, so you can feel "the better car" when driving...???? Due to some major supermarket chains have opened on the island, like BigC, Makro, Tesco-Lotus and Tops, there are competition on food prices, so many, or most, are same level as everywhere in Thailand. Some times the super market chains are cheaper than the local markets with some products, other times the markets might have a better offer. Its like living everywhere on a budget, you'll need to check prices and find the right places to shop various products. Also chains like HomePro and Power Buy, and others, makes hardware competitive, so Samui is not that different in price, even being an island. There are other recent topics about living expenses on Samui, but in general its mentioned to be dependent of life-style. From my personal experience, we use about the same as always – i.e. for the last 10+ years – but we might be little more selective in our choices now, however cannot feel it. What matters in inflation so far is mainly currency exchange rates, when income originates from abroad. My "salary" has gone 20 percent down over the last 10 years. Furthermore, in my home country, I could get 6 percent, even 7 percent, interest from secured bonds (as secure as money in the bank with guarantee) 10-15 years ago, today I'm happy with around 3 percent in combined dividend and bond interest outcome, so my income from savings in foreign currency is about 50 percent down, and loss of exchange rate is 20 percent down, so I'm only having 40 percent of what I used to get a decade or more ago, and furthermore taking into consideration an average Thai consumer price index rise of 18+ percent. Currency exchange is an factor to calculate with, if you're depending on foreign income; and British folks seem to have lost even more than me, in currency exchange deviations. Welcome to Samui, if your chose that...???? 3 Link to comment Share on other sites More sharing options...
munslife Posted April 1, 2019 Author Share Posted April 1, 2019 7 hours ago, khunPer said: Living expenses are like a rubber band, purely depending of life-style, but you seem to know that. You can find the consumer price index for Thailand here, 2014 and 2015 equaled index 100, whilst 2013 was 98. Over a 10-year period the price-increase was in total about 18 percent (from about index 86 to circa index 102 now). But its depending what you buy, or use, some prices has increased more than others; A few examples, based on my 15-18 years experience: One liter og fuel (gasoline) was just under 20 baht 15-18 years ago, today one liter gasohol fuel (E20 or gasoline with 10% ethanol) is around 25-30 baht; fuel is a few bath more expensive per liter on an island, due to higher transportation costs. Alcohol and cigarette prices has gone (way) up over 10-15 years due to increased taxes. Electricity seems pretty steady around 4 baht a unit (kWh). Some meat products has gone up by 50 percent in 15 years, meat prices change little up-and-down almost daily. Soft drinks are about same price as before, big bottle brand-name about 25-28 baht, others cheaper, for example Tesco's own brand sells for 19 baht (1.25l, so litter smaller than brand names) with "buy one, get one free". Rents are often a question of location and demand, you can still find nice bungalows for 10,000 baht and less a month when renting long-term – it was around same price level 15 years ago, but some has raised price more than others – there are not that many condos at Samui, but more are being build, most people stay in bungalows and villas. Dining out has in general gone up by 50 percent in average, however some places more; its a question of location, and tourist market, i.e. what tourists are prepared to pay, so dining in a typical tourist area, like Fisherman Village, is more expensive. Cost of living, or a budget, is really depending of which life-style you are aiming for, and for how many people; are you alone, a couple, or a family with children in need of school? Renting a bungalow, house, or villa, with 2 bedrooms can be anything from around 10,000 baht a month – you can still find nice places for that – and up to more than 100,000 baht a month on long term agreements. Dining mainly Western food will often be at similar price level as in your home country or little more, whilst eating Thai food is relative cheap; however still depending of choice of menu, some seafood might increase the cost, as well as tender beef meat (like Tiger Cry). Drinking wine is relative expensive, i.e. same price as in many Western countries, or in some cases even more, also beer can cost more. But that is not local to Samui, but Thailand in general. Song thaews – or "baht bus" – haven't changed much in price over the years, whilst taxis are little (relative) more expensive than before, we have only had metered taxis on the island for about a decade. Car and Motorbike prices are pretty nationwide (for new vehicles), and the car-model I use is almost same price as years ago, whilst motorbikes seem to have increased. I think rental prices has gone slightly up, but the models available might also be newer, and in better condition, than back in the good old Samui-era; so are the roads, i.e. better, so you can feel "the better car" when driving...???? Due to some major supermarket chains have opened on the island, like BigC, Makro, Tesco-Lotus and Tops, there are competition on food prices, so many, or most, are same level as everywhere in Thailand. Some times the super market chains are cheaper than the local markets with some products, other times the markets might have a better offer. Its like living everywhere on a budget, you'll need to check prices and find the right places to shop various products. Also chains like HomePro and Power Buy, and others, makes hardware competitive, so Samui is not that different in price, even being an island. There are other recent topics about living expenses on Samui, but in general its mentioned to be dependent of life-style. From my personal experience, we use about the same as always – i.e. for the last 10+ years – but we might be little more selective in our choices now, however cannot feel it. What matters in inflation so far is mainly currency exchange rates, when income originates from abroad. My "salary" has gone 20 percent down over the last 10 years. Furthermore, in my home country, I could get 6 percent, even 7 percent, interest from secured bonds (as secure as money in the bank with guarantee) 10-15 years ago, today I'm happy with around 3 percent in combined dividend and bond interest outcome, so my income from savings in foreign currency is about 50 percent down, and loss of exchange rate is 20 percent down, so I'm only having 40 percent of what I used to get a decade or more ago, and furthermore taking into consideration an average Thai consumer price index rise of 18+ percent. Currency exchange is an factor to calculate with, if you're depending on foreign income; and British folks seem to have lost even more than me, in currency exchange deviations. Welcome to Samui, if your chose that...???? wow that was an awesome reply with lot of clarity. thanks a ton! I completely get your point on cost of living. It will vary a lot from person to person and for different families. Of course for us it will be just 2 of us (no kids;) We have been to Samui couple of times and fell in love with the place. I agree that with all the new super markets prices are very competitive. I have also received similar reply from other forum members that prices have not increased much but the exchange rate has varied a lot making things worse for everyone. How do you think we can overcome that? By transferring a huge chunk of savings in Thai bank? do you think its a good idea to do that? Also since you mentioned few points on cost may I ask you if you can throw some light on average cost of living for a couple (not too much extravaganza...) with just a decent simple living will cost on Island? I was estimating somewhere close to 1200 to 1500 USD per month for a decent living (50% home cooked and most of the time eating outside like locas...). Dont know if you have some different idea based on your years of experience. Thanks again for your response cheers! 1 1 Link to comment Share on other sites More sharing options...
PoorSucker Posted April 1, 2019 Share Posted April 1, 2019 There are some really nice areas for you, I understand you want relaxed area outside the tourists, South of the ring road you have rural county but still only 15 minutes drive to Tesco and Macro. Beach side is always more expensive, but in the south you can get a nice two bedroom villa within 3 min walk to the beach for 10.000 In the north, more popular (restaurants etc) , Ban Por has the same for 15.000. 1 Link to comment Share on other sites More sharing options...
SamuiGeezer Posted April 1, 2019 Share Posted April 1, 2019 On 4/1/2019 at 12:27 AM, PoorSucker said: My experience is that I pay less now than 20 years ago. With experience you know how to haggle and where to shop,some knowledge in Thai makes wonders. Nowadays you have Tesco, BigC, Makro that has the same prices as the rest of Thailand. This is true for people that have their money in Thailand, and with experience you find the best and cheaper places. However, if your income is from Europe you will find that it is more than twice as expensive to live in Thailand than it was 10 years ago. Also, Samui has never been the cheapest and never will be. I don't think there has been a similar increase in rental prices it is just that based on the exchange rates, rentals and purchasing are nearly double the price for Europeans. This is a big plus for Europeans looking to sell/rent and so bearing that in mind, an opportunity to negotiate. 1 Link to comment Share on other sites More sharing options...
Popular Post khunPer Posted April 1, 2019 Popular Post Share Posted April 1, 2019 3 hours ago, munslife said: I have also received similar reply from other forum members that prices have not increased much but the exchange rate has varied a lot making things worse for everyone. How do you think we can overcome that? By transferring a huge chunk of savings in Thai bank? do you think its a good idea to do that? If you believe that the exchange rate for Thai baht will increase compared to your home country currency, its worth transferring a lot of money. You mentioned USD, and if that is your home country currency, then baht might not fluctuate that much, as bath traditionally is linked to USD. 10 years ago you got around 35 baht for one USD, today you get close to 32 baht (31.70), so USD has only lost about 10 percent in value compared to baht during 10 years. One euro was almost 47 baht 10 years ago, and up to 50 a short while, today its around 35.50, so down about 25 percent; British pounds almost the same, but little different deviations. Looking over 20 years USD has lost 20 percent, whilst euro is 30 percent down, and British pounds little more than 40 percent. Could it go the different direction in future? And if so, with a weaker Thai baht, you might loose by transferring a lot of money now. Some have invested in Thai securities, which is a good idea, if you know you are going to stay here for long time, and you are going to spend your savings in baht, so you get your dividend or interest paid in baht without the risk of currency fluctuations. There might even be some tax benefits also, depending of your home country taxation, and double taxation agreements. Personally I moved money from my home country when the bath was in a low value peak, as I believed the value of my home currency was topping compared to baht, and I actually got over 25 percent more baht, than I can get today; the major part of the money was used for a house. Looked in the shining bright light of hindsight I should have moved more money in at that time, and invested my savings in SET (Stock Exchange of Thailand); I have placed little there as a test, and that has performed Okay. Furthermore SET seem to live a bit of it's own life compared to the World market, so it dont follow the same ups and down in full value. A major Thai bank gives up to 1.5 percent annual interest on a 12-month fixed deposit, and after 15 percent withholding tax you are paid 1.275 percent. Using mutual funds in bonds you might gain slightly more, but you also have a rate risk. In general you shall consider to always have a lump sum of cash available in a "rainy day account", which could be partly be in a normal savings account with an ATM-card for instant access to cash, and partly in a 12-month fixed deposit for access during normal bank-days, or eventually bonds in a mutual fund. The sum is relative to one's personal savings and allowance, and also relative to the one's health insurance cover, and what might not be fully covered by the insurance, or if one is self-insured. 4 hours ago, munslife said: Also since you mentioned few points on cost may I ask you if you can throw some light on average cost of living for a couple (not too much extravaganza...) with just a decent simple living will cost on Island? I was estimating somewhere close to 1200 to 1500 USD per month for a decent living (50% home cooked and most of the time eating outside like locas...). Dont know if you have some different idea based on your years of experience. "Decent simple living", does that include wine to the meals, or just plain water? 1,200 to 1,500 USD are around 36,000 baht to 45,000 baht. Is that for food only, or total living cost? Home cooking could be 300 to 400 baht a day in average for two persons, whilst dining out at local diners in average could be 500 baht to 700 baht, food only. In a month 50/50 it could be around 12,000 to 16,000 baht. I would count 15,000 baht a month for two, i.e. average 500 baht a day; any extravaganza is extra. You can dine for less – I can – and you can easily spend a lot more; that I also can...???? If you're drinking beer or wine, you should count in average 40 baht for a normal beer (about 33 baht if you buy a crate of 24 in for example Makro), whilst wine would be around 800 baht for two liter table wine, and 600 baht and up for 3/4-liter bottles. Count 6 normal glass per bottle, or 16 glass per 2-liter container; i.e. 100+ baht a glass for bottle wine, and 50 baht per glass for "box wine". Two glass of "cheap" table wine for dinner-for-two at home could cost you 4 x 50 baht a day, in 15 days another 3,000 baht, whilst a glass of box wine served in a restaurant would be 100+ baht or another 6,000 baht. Similar amount of alcohol in form of beer would be in same price level. Alcoholic drinks could add 10,000 baht, or more, to the monthly budget, i.e. around 25,000 baht a month for food and drinks. The best advise is to spend some time staying in areas of interest, trying to live a daily life, without too much extravaganza, like what you expect it to be in long term – your decent simple living might be different from mine – and see how it fit with both budget and mood. ???? 5 Link to comment Share on other sites More sharing options...
Popular Post robertson468 Posted April 8, 2019 Popular Post Share Posted April 8, 2019 A little corrections on UK/Thai exchange rates. I arrived on Samui in 2004 (which I had also fallen in love with) and the exchange rate was 75 baht to 1£! Today's rate sadly is 41+ baht, however, once, or should I say IF UK decides on BREXIT, sterling should increase in value, assuming there are no other factors that could impact on that calculation. I have also been to Phuket and Chiange Mai. Whilst I like them both, to my mind, they don't hold a candle for friendlyness and socialability (is there such a word?) as good old Samui. There is just something about the Island, that I can't quite put my finger on that draws me in and to be quite honest, when the time comes, I will be quite happy to turn up my toes here! 4 Link to comment Share on other sites More sharing options...
dotpoom Posted April 8, 2019 Share Posted April 8, 2019 If you have to dig this deep to see if you can afford to stay there...etc., etc , etc.,? Link to comment Share on other sites More sharing options...
Jaxxper Posted April 8, 2019 Share Posted April 8, 2019 Good to see someone putting some thought in about what it costs to live and how they can tailor their lifestyle to a budget. I probably planned in more detail than I needed to, and as such I now track my expenses at a higher level than the plan. ie just in broad categories. Some areas we overrun others we underun. All works out in the end. I would say don't budget to your last penny. Keep some in reserve for emergencies. Anyway, hope your plan comes together. Good post. 1 Link to comment Share on other sites More sharing options...
GalaxyMan Posted April 8, 2019 Share Posted April 8, 2019 On 4/1/2019 at 9:40 PM, munslife said: How do you think we can overcome that? By transferring a huge chunk of savings in Thai bank? That's what I did. Took the one-time hit in costs and never looked back. I don't care what the exchange rate is now. My savings grows in the West and I have enough in Thailand for any foreseeable needs. 2 Link to comment Share on other sites More sharing options...
munslife Posted April 8, 2019 Author Share Posted April 8, 2019 3 hours ago, Jaxxper said: Good to see someone putting some thought in about what it costs to live and how they can tailor their lifestyle to a budget. I probably planned in more detail than I needed to, and as such I now track my expenses at a higher level than the plan. ie just in broad categories. Some areas we overrun others we underun. All works out in the end. I would say don't budget to your last penny. Keep some in reserve for emergencies. Anyway, hope your plan comes together. Good post. Thanks Jaxxper. Thats what I am trying to do by making a budget for my estimated cost of living. I found this forum very helpful with wonderful people talking about their experiences. Glad to know. cheers! Link to comment Share on other sites More sharing options...
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