Thailand Attracting Expat Retirees!

[Mai Krap]

From the Bangkok Post a few minutes ago, Im in Shock!

Thailand attracting expat retirees

http://www.bangkokpost.com/breaking_news/b...s.php?id=120292

(dpa) - Thailand is the leading home-away-from-home for expatriate retirees seeking the sunnier climes of South-East Asia, but the kingdom faces growing competition from their neighbours, a leading international property consultant said Wednesday.

Thailand, which has been actively trying to attract foreign retirees for years, granted 12,092 special retirement visas to foreigners in the first seven months of 2006, putting it at the forefront of the regional push to generate revenues off the elderly expatriate market, said James Pitchon, executive director of CB Richard Ellis Thailand (CBRE).

//edit//

[soundman]

Thailand, facing growing regional competition in the retirees as second home purchasers market, will need to be "involved in improving a better package of property ownership, domestic financing for foreigners and visa regulations," warned Pitchon.

Thailand "will need to" - can anyone actually see them doing it?

Soundman.

[churchill]

They have stated on many occasions that these are the people that they want to attract - So I am sure that they will ammend the laws in some way to continue attracting these investors

[chevykanteve]

Thailand, facing growing regional competition in the retirees as second home purchasers market, will need to be "involved in improving a better package of property ownership, domestic financing for foreigners and visa regulations," warned Pitchon.

Thailand "will need to" - can anyone actually see them doing it?

Soundman.

In a word, no.

[Penkoprod]

What i would like to know is, what ARE these "12,092 special retirement visas to foreigners" talked about

Or is it just the usual Non O-A?

Penkoprod

[bruceboy]

Thailand needs to be proactive if it wants to maintain its market position. Malaysia's liberal ecomomic policies will attract many.

[Filer]

Of course, CBRE would say all that, wouldn't they - in order to promote their high-end business in Thailand. It's a pity that Bangkok Post just publishes press releases like this without any independent comment.

On the numbers, since there is no retirement visa as such in Thailand, just an annual extension of permission to stay, I wonder what the 12,092 number refers to. Is this the total of all annual renewals in Jan-Jul 2006 (strange period to report on!), or just the first time 12m extensions in that period? If it's first time 12m extensions (ie new retirees), the number sounds on the high side. BP should have queried these numbers.

Malaysia's MM2M programme has been a relative failure among westerners so far principally because Malaysia simply hasn't promoted it adequately in western countries. If they had spent half the money promoting this that they spent on promoting Langkawi, their figures would have been much better.

[bruceboy]

Malaysia's MM2M programme has been a relative failure among westerners so far principally because Malaysia simply hasn't promoted it adequately in western countries. If they had spent half the money promoting this that they spent on promoting Langkawi, their figures would have been much better.

Sadly, many, dismiss Malaysia as a "rag head" country. I've found the Malays to be a tolerant race and proud of their countries former relationship with Britain.

[soundman]

Malaysia's MM2M programme has been a relative failure among westerners so far principally because Malaysia simply hasn't promoted it adequately in western countries. If they had spent half the money promoting this that they spent on promoting Langkawi, their figures would have been much better.

Sadly, many, dismiss Malaysia as a "rag head" country. I've found the Malays to be a tolerant race and proud of their countries former relationship with Britain.

The Malay's may be tolerant, but what exactly is there to do (for the retiree) in Malaysia? Being (and I might be showing my small exposure of only one day in Malaysia) a muslim country, the normal recreational activity of a fair percentage of farang (those that would retire to Pattaya or PP for example) retiree is simply not available.

Soundman.

[skippybangkok]

Malaysia's MM2M programme has been a relative failure among westerners so far principally because Malaysia simply hasn't promoted it adequately in western countries. If they had spent half the money promoting this that they spent on promoting Langkawi, their figures would have been much better.

Sadly, many, dismiss Malaysia as a "rag head" country. I've found the Malays to be a tolerant race and proud of their countries former relationship with Britain.

1. How long have u lived there if i may ask ?

2. Do u have deep running relationships ( i.e. at village level ) with the local Malays ?

Edited July 18, 2007 by skippybangkok

[lopburi3]

Of course, CBRE would say all that, wouldn't they - in order to promote their high-end business in Thailand. It's a pity that Bangkok Post just publishes press releases like this without any independent comment.

On the numbers, since there is no retirement visa as such in Thailand, just an annual extension of permission to stay, I wonder what the 12,092 number refers to. Is this the total of all annual renewals in Jan-Jul 2006 (strange period to report on!), or just the first time 12m extensions in that period? If it's first time 12m extensions (ie new retirees), the number sounds on the high side. BP should have queried these numbers.

Malaysia's MM2M programme has been a relative failure among westerners so far principally because Malaysia simply hasn't promoted it adequately in western countries. If they had spent half the money promoting this that they spent on promoting Langkawi, their figures would have been much better.

Based on my extension number I suspect this figure is for the first six months of 2007, ending June 18th, if they are talking about extensions of stay for retirement.

[Rimmer]

I renewed my retirement visa this morning at Soi 5 Jomtien Immigration dept.

They now have TWO officers handling retirement visa's where previously there was one. The younger of the two officers speaks very good English and I should say he studied in UK. He told me that many many people were now applying for retirement visa's and that is why they now have an extra pair of hands handling the rush of all those wishing to retire here.

[howtoescape]

Theyve just scapped Capital Gains Tax on property in Malaysia, granted retirees arent out to make a profit or flip property, but it is definitely a more attractive market then Thailand.

The majority of overseas investors are Chinese and Koreans though from what one developer told me about 10% of his property is sold to EU/US citizens, with many of these are looking to retire. Apparantly Koreans are buying entire apartmetn blocks.

The Malaysia MM2H project is not exclusively aimed at Westerners, with 2.5billion Indian and Chinese, on their doorstep and with the government just starting to actively market this project it will no doubt take off sooner or later.

Not every retiree wants to be worried about his visa getting revoked, hence Malaysia is a definite alternative.

[lazeeboy]

Theyve just scapped Capital Gains Tax on property in Malaysia, granted retirees arent out to make a profit or flip property, but it is definitely a more attractive market then Thailand.

The majority of overseas investors are Chinese and Koreans though from what one developer told me about 10% of his property is sold to EU/US citizens, with many of these are looking to retire. Apparantly Koreans are buying entire apartmetn blocks.

The Malaysia MM2H project is not exclusively aimed at Westerners, with 2.5billion Indian and Chinese, on their doorstep and with the government just starting to actively market this project it will no doubt take off sooner or later.

Not every retiree wants to be worried about his visa getting revoked, hence Malaysia is a definite alternative.

everytime i renew my 1 year visa ,the number of westerners renewing theres go up ,theres still lots of people making here there home,not eard of a big expat community in malaysia........

[Jingthing]

That number of "special retirement visas" sounds low to me. Do you think they are only counting O-A visas obtained in countries like the UK and US, rather than extensions of an O visa based on retirement? (Which is not technically a retirement visa.)

Really, though, if they really want to attract and keep retirees, they need something like a 10 year visa. Older people need more stability! If some geezer breaks a major law, they can deport for that reason, not some petty technicality over the visa application.

[Maestro]

Really, though, if they really want to attract and keep retirees, they need something like a 10 year visa.

You are right about that, Jingthing, but nobody – at least nobody official – is saying that the Thai government is making an effort to attract retired people. The title of the article in the Bangkok Post, reproduced in the title of this topic, is misleading. It is a businessman saying it, for reasons that Filer is guessing at in his post:

Of course, CBRE would say all that, wouldn't they - in order to promote their high-end business in Thailand. It's a pity that Bangkok Post just publishes press releases like this without any independent comment.

--

Maestro

[Dupont]

Really, though, if they really want to attract and keep retirees, they need something like a 10 year visa.

You are right about that, Jingthing, but nobody – at least nobody official – is saying that the Thai government is making an effort to attract retired people. The title of the article in the Bangkok Post, reproduced in the title of this topic, is misleading. It is a businessman saying it, for reasons that Filer is guessing at in his post:

Of course, CBRE would say all that, wouldn't they - in order to promote their high-end business in Thailand. It's a pity that Bangkok Post just publishes press releases like this without any independent comment.

--

Maestro

Once again, sloppy Journalism, reporting as truth, property company propaganda.

Many of these people were already here on 30 day visas and have had to get a proper visa.

Theres so much that can be read into these statistics that it is a scandal and a shame the worthless hack didn't do some research.

Bangkok post has really gone to the dogs these days.

[JetsetBkk]

<snip>

Older people need more stability! If some geezer breaks a major law, they can deport for that reason, not some petty technicality over the visa application.

Or forgetting to get a re-entry permit when leaving the country! If you forget to get one, you have to start all over again with the visa application. Ridiculous.