It's been well debated on this forum, over several years. The "own" versus "rent" debate. I rent, and sleep well at night. Even after crunching the numbers here, it made no financial sense to buy. In my condo block, condo's come up for sale that are similar to the one I rent. If you take the purchase price, you can see the same money left in a bank in my home country, with interest at around 5%, more than pays for the rent, with no management costs, repairs and maintenance, taxes, fees etc, and the freedom to move if / when I want. My capital remains safe in my home country, and accessible at anytime. Covert that money into a condo in Thailand and it become a depreciating asset, mainly due to oversupply and poor build quality, and not liquidated easily. Then you have the risks of similar circumstances like in the OP. The old saying, "rent is dead money" maybe true in one's home country, where you have rights, and in general, the rule of law prevails, but in my opinion, it's not true in Thailand. Some people made some money back in the 80's, but those days are long gone. Why bother buying? There's more risk than reward, and it's no longer even profitable.
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