Thailand to target wealthy foreign retirees, make it easier to purchase property

[ramrod711]

2 hours ago, condobrit001 said:

Truely rich foreigners are not interested in living or investing in third world countries with military governments and corrupt police and public officials.

Not to mention an AQI that frequently resides in the DANGER area. The first big spender to hit Chiang Mai is sure to say "they must be joking".

[GeilGeilertzen]

1 million of these 200 million ????????

The zik zak masters of the world should have behaved a little bit different in the past towards farang and rules  if they think 1 million private property investors ever will feel safe. 
If things and economy would ever again be successful then you farang and that Chanote title is up for scrutiny and total bs from the Thai government.  
You just simply can’t  believe a word they say.  

[TigerandDog]

2 hours ago, crazykopite said:

For a moment I thought WOW then I realised that today is All Fools Day and let’s be honest we all know the current government is full. of them

but look at the time of the post. It's after midday, so theoretically it doesn't count for April Fools day.

[chilly07]

1 hour ago, Antonymous said:

There are already many retired expats who spend upwards of 1.2 million a year here, myself included. And certainly many more who are working in international companies. It isn't an unreasonable or unusual target.

 

However making it easier to buy houses is interesting. My guess is that if this is introduced it will be something along the lines of:

 

- The property must be above xx million baht

- It must be in the following locations

- It must be from 'this' list of Govt approved developers

 

If I'm right, in other words it will be a scheme to enrich certain companies/people first and foremost and not something designed to help expats!

Absolutely correct. Purpose built estates sold on long leases. I spend 1.2m pa and I am an impoverished pensioner who cannot afford to live in my home country!

[uksmdh]

Now where's that emoji of me lying on my back PMSL

[Darkside Gray]

Im sure I want to spend 200000 to 300000 Baht a month, I don't think so!

[starky]

3 hours ago, keith101 said:

LOL,LOL,LOL they really dream big don't they delusions of grandeur . 1 million they would be very lucky to get 1 thousand and what exactly do the expect them to spend 100,000  on every single month , cmon time for a reality check .

Can't speak for retirees or the 200/300 a month. But if ya gotta couple kids here in good schools, couple cars some bikes and don't want to live and eat like an Isaan Thai. I would think you would find there a quite a few people living here spending more than 100k a month quite comfortably.  The rest of the article is rubbish but spending over a million baht a year in Thailand ain't hard and I'm damn sure it doesn't make you rich.

[Burma Bill]

3 hours ago, webfact said:

foreigners to own property in Thailand.

 Shouldn't "property" be replaced with "only condos/apartments"?? I understand foreigners cannot own other types of property

[Surasak]

2 hours ago, klauskunkel said:

All you need to do is repair the 90 Day Online Reporting: If you fix it, they will come.

Online reporting is fine, its the 'Dell Boy' computers used that's the problem

[Nanaplaza666]

First they want to make it easy for them to buy property and they actually think that those people will buy property and then will be living there all year round spending 10.000$ a month ???????????????? the only reason why those people will get into that market is to then own land and property for investment not to live there . 

[mran66]

At least they are honestly saying they only care about foreigner as a source of money and sponsorship, no illusions or bs about any morally higher motivations. More sophisticated western politicians for sure could not say it as bluntly... 

 

Just like a hooker who is straight about only wanting money for sex, no scam about love or other higher interests. 

 

Success is then another story. Like for the hooker, if price is right, more people want to come for sun and pussy, maybe an odd foolish naive investor here and there as a topping. 

[DPKANKAN]

3 hours ago, simon43 said:

[quote]

...about making it easier for foreigners to buy houses in Thailand.

[/quote]

 

Sorry, but I simply don't believe this.  'Buying a house' in my interpretation means owning (not leasing) the property (with its land/garden) in my name only.  Any other scheme is just deception.

And don't forget that after you have bought it they can rescind the law and you then get shafted!!????????????????????????????????

[hotchilli]

3 hours ago, webfact said:

The types of foreign retirees targeted will be those who have a healthy pension pot, with the ability to spend 200,000 - 300,000 baht per month. 

I don't like to be targeted.. I like to feel included.

Thailand will never learn.

How about after 5 years living here you get free residency, no more ridiculous 90 day reporting.

[Airalee]

3 hours ago, webfact said:

A survey carried out by the government found that around 200 million people around the world fit into that group. 

Not sure where they get their numbers, but there are only an estimated 46.8 million millionaires globally and that includes the value of their overinflated homes.

 

https://en.wikipedia.org/wiki/Millionaire

[starky]

2 hours ago, Boomer6969 said:

Errr... 33000.

Shouldn't that be a year and his post now says 100k a month ????

[Surasak]

2 hours ago, Crusader said:

Don't you just love the numbers they come up with...

I know it is April 1 - but most Thai don't get that.

I live a fairly extravagant life, but would struggle to spend 200,000 a month - without giving loads away.

I don't have an extravagant life style, but I do have deep pockets. Problem there being, I have nothing in them

[RocketDog]

3 hours ago, webfact said:

A survey carried out by the government found that around 200 million people around the world fit into that group. 

 

If just one million people from that group move to Thailand, each spending 100,000 baht per month or 1.2million baht per year, that would generate 1.2 trillion baht per year for the economy.

Aha, somebody has a calculator and knows how to use it. 

But....... if all 200 million moved to Thailand they would spend 200 times more. 

I know because I used MY calculator. 

Now that we've settled that all we need to do is get them to come, but that should be easy. 

Great Plan! 

 

Just think. Yesterday I couldn't spell Government Planner and today I are one. ????

All you need is a calculator , a seriously overactive imagination, and some kick-a** weed. 

[realfunster]

4 hours ago, webfact said:

The types of foreign retirees targeted will be those who have a healthy pension pot, with the ability to spend 200,000 - 300,000 baht per month. 

 

A survey carried out by the government found that around 200 million people around the world fit into that group. 

 

Please just stop with the utter, utter <deleted>. Drivel. Tosh.

 

Best estimates are around 30-50 million USD millionaires worldwide. 

 

Using the oft touted 4% rule, the monthly spend suggested in the article, would suggest a pension pot of minimum (200,000*12)*25= THB 60m= USD 2m.

 

And these clowns reckon there are 200m pensioners hidden somewhere with USD2m pension savings?

 

 

[tonray]

4 hours ago, webfact said:

with the ability to spend 200,000 - 300,000 baht per month

I'm out..but if I could afford to spend 200k to 300k baht monthly, I certainly would have more competitive locations to consider other than Thailand.

[Bangkok Barry]

Was there anyone there to ask this one simple question?

 

Why would anyone with that amount of money want to live in Thailand?

 

It would be interesting to know their thinking. If there is any thought behind the talk, rather than just more of the daily dreams we are fed.

[IamNoone88]

 

1 million extra foreigners living in Thailand and probably top heavy with Chinese (they avoided mentioning China) .... I do not think the local Thai's would take too kindly to the proposal at all.  

[wensiensheng]

It’s April 1st, right?

[Kerryd]

Lol.
People seem to forget how many of "you" claim to be getting 65k a month into your Thai account already, or have 800k in the bank (which originally was what Immigration expected most foreigners would need to live on for 1 year - it was never meant to stay in the bank all year or even part of the year but you can thank the scammers for that now).

Of course, we know everyone actually is getting that much every month and spending it (jing jing) or is living on (approx) 800k a year from their savings, so expecting "wealthy" foreigners to spend 100k a month (or 1.2 mil a year) isn't that much more than what a lot of "you" claim to already be living on.

Unless of course it's not true (how much you're actually getting and/or living on). 

I seriously doubt though that they'd even get 50,000 "wealthy seniors" unless 49,500 of them are from China. Keep in mind, China is their #1 preferred tourist target, not old, fat "white" guys from the EU/Australia or North America. A lot of Chinese are making a lot of money these days and a lot of them like to park as much of that as they can outside of China and property is (usually) always a good investment.
Just have to look at places like Vancouver where most Canadians can't afford to live anymore. When you have Chinese coming in, buying $300,000 homes and having them demolished so they can construct $600,000 homes in their place, the real estate market is going to go crazy.

Besides, the Chinese know it's just a matter of time until they are in full control here and by then they'll probably own half the country (one way or another). This announcement may be the start of that (as you can be sure it wasn't directed at the expat community here).

[onebir]

5 hours ago, webfact said:

If just one million people from that group move to Thailand, each spending 100,000 baht per month or 1.2million baht per year, that would generate 1.2 trillion baht per year for the economy.

If just 0.000001% of pigs could fly, it would rain 200g of bacon/sq km after thunderstorms.

[gamini]

4 hours ago, keith101 said:

LOL,LOL,LOL they really dream big don't they delusions of grandeur . 1 million they would be very lucky to get 1 thousand and what exactly do the expect them to spend 100,000  on every single month , cmon time for a reality check .

I think that you should make a reality check. I spend more than a hundred thousand every month and so do most of my friends. 

[ThailandRyan]

1 hour ago, chilly07 said:

Absolutely correct. Purpose built estates sold on long leases. I spend 1.2m pa and I am an impoverished pensioner who cannot afford to live in my home country!

I spend the same and do it very easily with the spending on shopping, fuel, household expenses, insurances for car, motorbike, and health.  Could I spend more, yes i could.  Could I spend less, of course but then why, I live the life I want.  I worked many years before I retired, and during that time scrimped and saved in order to put things in place for retirement.  There is no way this government would go retroactive to any of us who might meet the requirements they list. I just don't believe we are the type of foreigners they desire.  They want those that will come here and then leave after dumping money into their coffers.

[keith101]

4 minutes ago, gamini said:

I think that you should make a reality check. I spend more than a hundred thousand every month and so do most of my friends. 

on booze 

[bluesea]

If i was a wealthy Expat i would live in Pannama no hassels with Immiration, free health Insurance, Perminate resendecy after 2 years.

[Thaifly88]

In principle, it’s a good idea, but like a lot of things, I wouldn’t want to be in the first batch to try it out.

See how it has developed after a couple more years.

[3STTW]

It amazes me that the Thais consistently fail to understand what farangs consider to be good value for money. “Ooh, he’s got a nice house, let’s try and charge him 30k for a couple of Venetian blinds!”

Wealthy people don’t get that way by falling for two-bit scams.