Is it better to buy or rent property in Thailand as an expat?

[Conan The Barbarian]

I have been planning to buy a condo but wanna know where I can get the best ROI 

[KhunLA]

ROI ???

 

Do you plan on living at condo till your end of days ?   If not rent.  Dependent on age, finances, and how long you've been or know TH.

 

Rent at any condo you consider buying at for a year also, before buying.

[Cameroni]

Renting is financially  better.

 

Buying really only makes sense if you know 100% where you want to live for the rest of your life and plan to stay there forever.

 

You should not expect to make money from a condo in Thailand, unless you buy in the most in demand areas, but even there an over saturation exists. If you will make money there depends heavily on purchase price, and it tends to be high in popular areas. Obviously Bangkok is the best bet for investment, but it's risky.

 

If you buy to live there in Chiang Mai or the countryside, that's another story, you have a gf or wife, and want to plant mango trees, what you do with your money is up to you. But it can take 2 years to sell.

[DrJack54]

22 hours ago, KhunLA said:

ROI ???

Return on investment.

 

OP no sense in buying if the property is for yourself.

Better off renting.

Condos in particular are often not easy to sell.

I have purchased a few but not to live in or sell in future.

I put them in my long term Thai partner name. (yes gifted). 

[OneMoreFarang]

IMHO, if you can rent what you want for a reasonable price, then rent and don't worry.

Don't buy as an investment. Obviously, you might be able to make money, but you can't count on that.

 

After renting here for many years I finally bought a condominium in a > 20 year old building. I renovated it from scratch just the way I like it. And my idea is to live there until I die. 

Will I be able to sell it for a good price? Maybe. But I don't count on that.

I bought it because it cost less than half of what a brand new one in the same area would have cost. And I renovated it exactly the way I like it. Many new places have many small rooms. I like the opposite. 2/3 of my place is more or less one room. I wouldn't be able to rent such a place.

It's unlikely that I ever have to sell it because I need the money (urgently). So, for me that is a good solution.

 

As far as I know the property market in Thailand is different to what many farangs expect from home. So, if you don't know exactly what you are buying in Thailand, don't do it. 

[KhunLA]

49 minutes ago, DrJack54 said:

Return on investment.

 

OP no sense in buying if the property if it's for yourself.

Better off renting.

Condos in particular are often not easy to sell.

I have purchased a few but not to live in or sell in future.

I put them in my long term Thai partner name. (yes gifted). 

Yes, know ROI, what it means to me, but what does OP expect, how meaning.

 

More info needed.   For me, always better to buy, BUT, lots a variables involved with that decisions.  One size doesn't fit all.  

 

Condos don't appreciate like other RE in TH, that have land to go with it.   Always new condos built, competitively priced, so as an investment, again, a few variables to think about.

 

OP member of AN since May, and if that reflects his experience with TH, then rent, as has a lot to learn & experience before buying in.

 

 

[Nick Carter icp]

Rent : Its nice to move area every so often .

Also if something becomes annoying , you can just move somewhere else , like if they decide to built a tower block next door that will take three years to complete 

[Conan The Barbarian]

1 hour ago, KhunLA said:

Yes, know ROI, what it means to me, but what does OP expect, how meaning.

 

More info needed.   For me, always better to buy, BUT, lots a variables involved with that decisions.  One size doesn't fit all.  

 

Condos don't appreciate like other RE in TH, that have land to go with it.   Always new condos built, competitively priced, so as an investment, again, a few variables to think about.

 

OP member of AN since May, and if that reflects his experience with TH, then rent, as has a lot to learn & experience before buying in.

 

 

Hey man, no worries! I’ve been living in Bangkok for decades too, but I only recently found this forum. I’m considering buying a condo in Bangkok since it feels like a better investment than continuing to rent. I know about Sukhumvit and Asoke, but they’re a bit out of my budget. I’m looking for something in the 3-4 million baht range. Do you have any recommendations for good locations that offer a decent return on investment? Any advice would be greatly appreciated!

[OneMoreFarang]

Just now, Conan The Barbarian said:

Hey man, no worries! I’ve been living in Bangkok for decades too, but I only recently found this forum. I’m considering buying a condo in Bangkok since it feels like a better investment than continuing to rent. I know about Sukhumvit and Asoke, but they’re a bit out of my budget. I’m looking for something in the 3-4 million baht range. Do you have any recommendations for good locations that offer a decent return on investment? Any advice would be greatly appreciated!

 

Where do you want to live?

I think looking foremost at the property price is not a good idea.

You need shopping, maybe restaurants, bars, and all that.

Do you want to live right next to that? Or are you willing to travel? And travel for 20min or an hour?

 

I think it is a good idea to live where you actually want to be. In my case I spend at least 90% of my time within maximum 2km radius around my home. I like it here. Everything is in walking distance or maybe a short motorcycle ride.

 

This guy has many videos about different districts in Bangkok. It might be helpful to find an area which you like or don't like.

Bangkok Pat - YouTube

 

And here you can easily research prices in different areas. Maybe not exact, but you get a good idea about the type and prices of what's available.

Property for Sale in Bangkok Updated 2024 - FazWaz

 

 

[Will B Good]

 

Rent....and the only sensible alternative to renting is to rent.

[KhunLA]

22 minutes ago, Conan The Barbarian said:

Hey man, no worries! I’ve been living in Bangkok for decades too, but I only recently found this forum. I’m considering buying a condo in Bangkok since it feels like a better investment than continuing to rent. I know about Sukhumvit and Asoke, but they’re a bit out of my budget. I’m looking for something in the 3-4 million baht range. Do you have any recommendations for good locations that offer a decent return on investment? Any advice would be greatly appreciated!

3-4M baht should get you 40+m², if that's enough for you.  Maybe larger if older and further out of the main.   That location location location thingy.

 

Check the property listing sites for ballpark ideas & location w/prices.  Filter where (even near BTS/MRT stations), price, size:

 

No recs , as never peeked or had real desire to live at Bangkok.  Peeked for daughter though, not recently, but, you should find something nice in your budget.

 

 

[Conan The Barbarian]

26 minutes ago, OneMoreFarang said:

 

Where do you want to live?

I think looking foremost at the property price is not a good idea.

You need shopping, maybe restaurants, bars, and all that.

Do you want to live right next to that? Or are you willing to travel? And travel for 20min or an hour?

 

I think it is a good idea to live where you actually want to be. In my case I spend at least 90% of my time within maximum 2km radius around my home. I like it here. Everything is in walking distance or maybe a short motorcycle ride.

 

This guy has many videos about different districts in Bangkok. It might be helpful to find an area which you like or don't like.

Bangkok Pat - YouTube

 

And here you can easily research prices in different areas. Maybe not exact, but you get a good idea about the type and prices of what's available.

Property for Sale in Bangkok Updated 2024 - FazWaz

 

 

Big Help man 
Thank you so much will use your references.

[BigStar]

33 minutes ago, Will B Good said:

 

Rent....and the only sensible alternative to renting is to rent.

 

 

 

Our renters have always been strict followers of the Little Miss Muffet Principle of Thai residency. Condo owners are forever desperate to sell and heading for the exits. (Gotta love forum rhetoric.) A motorcycle shop could easily open in the condo next door to yours. The OP should expect to heed this sage advice or else.

 

 

But we've had a couple of knowledgeable owners dare answer, with good advice. Search the forum for more of that, if you're serious.

 

As said, if you're not a sophisticated real estate investor here, then only buy as a primary residence long-term, and that AFTER due diligence.

 

If you know what you're doing, you can make good money. I think we have only one member here who's done really well. Shrewd buying in favored locations (people tend to like sea views), higher end condos, and adding value (work!) were keys.

 

 

Edited August 26 by BigStar

[BritManToo]

If you're 60+ and single not much point in buying.

You'll be dead soon!

[Peterw42]

OP, you appear to be contradicting yourself, one post you are talking about a condo to live in, so you can stop paying rent, next post you are talking about ROI, which would be a rental property. I imagine if you have lived in Bangkok for decades then you have probably already spent the price of a condo in rent.

If you want a place to live in forever then what it rents for or sells for in the future is largely irrelevant.

I am one of the few who think renting is always better. I have owned a condo in Pattaya, and have saved the purchased price 2 times over, by not paying rent. Nowadays, i save 150-200k a year, and I don't know/care what the condo is worth today as its not a capital gain investment, its a yield investment, as in money in my pocket every year, rent I don't pay.

[newnative]

5 minutes ago, BritManToo said:

If you're 60+ and single not much point in buying.

You'll be dead soon!

     I'm thinking  the exact opposite.  The older I get, the more I am interested in my quality of life.  I'm 72 and my spouse and I are just finishing a new pool villa we will be living in on the Darkside of Pattaya, the second house we have built from scratch after doing an extensive renovation on the first house we bought in 2020.  I'd be buying if I were 90+ and single, or partnered.  My Dad lived to 95, so if I live to 90 I might get 5 years of joy out of my new living space.  Or, maybe just 1 year, or even less--wouldn't matter a bit to me as long as I was living my life the way I want to live.  

     I like livng in a space I own--for however long that may be.  Cliche or not, you do only go around once and not for me living in someone else's space.  Sitting and sleeping on their rental quality furniture.  Looking at their taste in art.  Watching tv on their likely small rental size tv screen.  Tiptoeing around hoping I don't break or damage something that I don't own.  No thanks.

     What also doesn't matter to me is making a profit--I would buy even if I might lose some money.  Luckily, both here and in the US, we have never lost any money on either the many condos we have owned, or the previous and current house, which both sold easily in booming Pattaya.  We buy what we like, where we want to be, make it attractive and comfortable, and so far it's always worked out ok when we go to sell.   If we ever take a loss, I'd still prefer that to renting, and you have the money you did save not renting to figure against any loss.

     But, that's just me.  If you're here short-term, or owning doesn't appeal to you, there's a variety of rentals at all price points most places, and, certainly, Bangkok.  Renting can be a good option for some.  As one poster said, one size does not fit all, especially true when it comes to buying or renting.

     Should you choose to buy, some good advice has already been given.  When my spouse and I go condo or house hunting, the first thing we do is settle on an area we want to live in.  That, in itself, can take some time.  Then we try to choose, after a lot of study and looking, what most suits our needs and price range.  We like to swim, so a big pool was a must, along with a well-equipped gym, when we were condo shopping.  We don't like being cooped up inside, so we always wanted a nice-size balcony.  Think about your lifestyle and the things you want to have in a condo.   

     Even being careful, we ended up buying at a couple of new, mega projects in Pattaya that soon became very popular with illegal, short-term renters, as many of the condo units were quite small and ideal for 'hotel' rooms .   We didn't care for the busy, hotel atmosphere, so we sold.  Since they were, and are, quite popular projects, we didn't have any trouble selling both condos at a profit.   

     Our last condo in Pattaya was at an older project with fewer numbers of larger units.  This project didn't have a problem with illegal renters and we felt like we were living in a residence, rather than a hotel.  If illegal renters are a concern, you might also look for that type of project in Bangkok. 

     We know Pattaya much better than Bangkok but we do have a getaway condo in Bangkok, very close to the Phetchaburi MRT station.  The first condo we bought in Bangkok was too far from a metro station, so if I have any BKK advice it would be to try to get as close to a station as you can--we did not like a long, hot walk back to the condo after a long, hot day out and about in Bangkok.  Take your time and good luck with your search.

[Yagoda]

Dont invest anything in anything substantial in a country where the US Courts cant help you.

[OneMoreFarang]

Just now, Yagoda said:

Dont invest anything in anything substantial in a country where the US Courts cant help you.

And make sure no US court will ever convict you of anything - even if you never visited that country.

[NativeBob]

I was stupid enough to buy nice flat in BKK. Condo was good, management was good and still is, but - it is an anchor over your neck and you will never will be able to sell at the same price. 

Also about ROI - you're not allowed to play landlord, don't listen to those "passive income" BS

Obviously - NOT BUY

[maesariang]

Hotels are 400+ baht a night. You could stay in 1000 different hotels and see the whole country or stay in a condo where you never own the land and have full control.

[KhunLA]

4 hours ago, BritManToo said:

If you're 60+ and single not much point in buying.

You'll be dead soon!

Yes & no.  Though my last house (my 2nd), in 2011/12 was going to be the one I died in.   So like @newnative  we had it built with all the comforts, pool, huge tub (use 3X maybe in 5 yrs), 400m² under roof, 220m² walled in living space.  All on 2 rai, a big mistake, as way too much lawn to maintain.  12 yrs ago, so 57.

 

After 16/17 yrs in Udon Than, kid out of high school, I've had enough of the air pollution, congestion of town, when we actually went into for the evening.   More so, being so far away from where we go for O&A, PKK and beyond.

 

With daughter stet to go to Uni at Krung Thep.... bye bye UT.

 

Built now, 3rd house, after 3 yr tester of the area.  Actually build on land we bought back in 2015, I think, 5 yrs before contracting builder.   This time, minimalistic.  Though did buy small lot across for garden, since house takes up most of the 1/4 rai it sits on.  

 

For the OP, @Conan The Barbarian or whoever, if you know you're going to live there for at least 5 years, then I'd buy instead of renting, as should be able to sell without taking a loss.  At worst, 5 yrs rent free.   Which is why I build houses here.  A bit of an outlay, but aside from profit, I've lived here rent free.

 

If not a condo, and has land, then the more land, the more appreciation, and nice profit when you do sell.  Profit & rent free ... win win.

 

This house, as BritMan points out, knockin' on 70, so there's that, though feeling pretty healthy.   The wife, knockin' on 48 soon, so she'll enjoy it for the rest of her time.  Made for her w/Greenhouse & garden, and she has no intention of leaving after I crap out.

[steven100]

10 minutes ago, maesariang said:

Hotels are 400+ baht a night. You could stay in 1000 different hotels and see the whole country or stay in a condo where you never own the land and have full control.

 

does 400+  include the cockroaches & bedbugs or are they extra  ? 

[Yagoda]

20 minutes ago, OneMoreFarang said:

And make sure no US court will ever convict you of anything - even if you never visited that country.

That makes no sense

[maesariang]

10 minutes ago, steven100 said:

 

does 400+  include the cockroaches & bedbugs or are they extra  ? 

Have not seen a roach for a long time.

[steven100]

1 minute ago, maesariang said:

Have not seen a roach for a long time.

 

your not sleeping in the right beds 

[maesariang]

11 minutes ago, steven100 said:

 

your not sleeping in the right beds 

You see a lot of roaches?

[Yagoda]

Th

51 minutes ago, maesariang said:

Hotels are 400+ baht a night. You could stay in 1000 different hotels and see the whole country or stay in a condo where you never own the land and have full control.

Thats on my bucket list when I get too wore out of SE Asia and need the wide expanses, assuming Trump is elected and gas prices fall..

 

Mercedes AMG Roadster or Lexus LC and off to the Rockies! There is a hotel and slut in every small town and those long flat state roads with 450 plus horsepower, an insulated mug, S&W 642, a change of underwear, urinal and a toothbrush! I have 84 hours on my Spotify playlist to boot!

 

Top down too, biatch.

[Will B Good]

1 hour ago, NativeBob said:

I was stupid enough to buy nice flat in BKK. Condo was good, management was good and still is, but - it is an anchor over your neck and you will never will be able to sell at the same price. 

Also about ROI - you're not allowed to play landlord, don't listen to those "passive income" BS

Obviously - NOT BUY

 

 

Thank you!!!

 

My perspective 100%

 

Rent is so cheap....move if and when you want to....no hassle.

[Hummin]

Dependes, what do you think?

 

 

[Hummin]

7 hours ago, Conan The Barbarian said:

Hey man, no worries! I’ve been living in Bangkok for decades too, but I only recently found this forum. I’m considering buying a condo in Bangkok since it feels like a better investment than continuing to rent. I know about Sukhumvit and Asoke, but they’re a bit out of my budget. I’m looking for something in the 3-4 million baht range. Do you have any recommendations for good locations that offer a decent return on investment? Any advice would be greatly appreciated!

Didn't you have your first Thailand experience in Hua Hin? 😉