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

[bkk6060]

Rent.

When your neighbors start cooking food that comes into your room smelling like dead rats, screaming kids move in, loud music at all hours, they build a bar complex next to your building keeping you up till 4am etc. etc., you can move.

[Celsius]

14 hours ago, Mark Nothing said:

I have been waiting decades for the return on my investment to kick in on my cookiecutter condo which only seems to relentlessly depreciate.

 

Last time I contacted a realtor to sell my condo he said he could maybe get half of what I paid for it.  And in my 40 unit building 23 units were for sale many for more then a decade.

 

Keep your money invested in your home coutry and pay rent with your profits in Thailand.  

 

Same with my wife. Finaly sold it for a 25% loss, and this is AFTER BTS station was built literally next to condo entrance and a shopping mall. 

 

Fortunately for her this was her "investment property" so maybe the loss was a bit lower in the end.

 

[Will B Good]

Just now, Celsius said:

 

Same with my wife. Finaly sold it for a 25% loss, and this is AFTER BTS station was built literally next to condo entrance and a shopping mall. 

 

Fortunately for her this was her "investment property" so maybe the loss was a bit lower in the end.

 

 

 

Both sad stories, but I guess you are both far from being alone.

 

You get the odd good story that is trumpeted like it's the norm (or they simply haven't done their sums properly).

 

Rent, rent, rent is the only sensible answer........says the man with a house in Isaan.

[harryviking]

The problem with renting is that the owners sometimes just give you a short time to get out because they "have sold the place"!! Still, I rent, but I do not have many things to move just in case this happens again. Yes, It has happened with me... 

[Will B Good]

2 minutes ago, harryviking said:

The problem with renting is that the owners sometimes just give you a short time to get out because they "have sold the place"!! Still, I rent, but I do not have many things to move just in case this happens again. Yes, It has happened with me... 

 

Good point.....we travelled light anyway because we were renting.....half furnished, fully furnished were best.

[blazes]

15 hours ago, NativeBob said:

PS: before 9/11 I had a bunch of strange looking neighbors living next door. I guess at least 6 in the studio of 37 sq.m.?! Speaking very loud and always late. Guess their ethnicity? 

 

Allahu  akbar??

[nickmondo]

I used to believe renting was the only thing to do here as a single man.

but now, in a LTR I am more than happy to buy a house, and more than happy to leave it to my Thai gf after i die.  I dont have any other dependants and Im bloody sure my siblings wont be getting their greedy mits on it.

I dont care about selling and making a profit.  Im 67 and will not move until I die.

I will never go back to UK.........English people will know why.......current situation there.

I have bought next to a golf course, on a secure brand new village, and 10 minutes from the city and beaches.

I could have continued to rent, but quality houses now are 25k plus a month.

So based on the maths.....decided to buy.

Still got enough income and savings to last until Im 95, so should be fine.

House cost 4.8 million baht, 3 beds, 2 baths, so if i did want to rent it out for whatever reason, Im going to get much more income than leaving the 4.8 million n the bank or in the UK.

so all bases covered as far as i am concerned.

 

[tweedledee2]

16 hours ago, NativeBob said:

Another thing: some "landlords" might rent their "properties" to weirdos like a flock of Indians whose nice sari-wearing wives cooked all the time some uber-stinky food at the doorstep so the wind will blow the stanch away ... into corridor and into everybody's rooms. 

On the floor above there was a penthouse of Russian pimp and in the evening ugly looking "working girls" from Eastern Europe were having fun at the clean and cozy swimming poll. Those "budget" versions with hair bleached to the "piss in the snow" color.

Later Koreans came. Those threw fags from their balconies into that pool. Nice?

It used to be nice and sweet condo but at the turn of the century it turned into <deleted> hole.

 

If you rent the place like this you just leave it, screw the deposit. But when you own it - its an instant freak show.

 

PS: before 9/11 I had a bunch of strange looking neighbors living next door. I guess at least 6 in the studio of 37 sq.m.?! Speaking very loud and always late. Guess their ethnicity? 

It took me forever to sell that flat and I lost min. 200K.

 

ROI my a$$!

 

Stutter much?

[nickmondo]

1 hour ago, harryviking said:

The problem with renting is that the owners sometimes just give you a short time to get out because they "have sold the place"!! Still, I rent, but I do not have many things to move just in case this happens again. Yes, It has happened with me... 

so have a good solid rental contract and tell the owner where to go.

[CecilM]

Depends how long you're planning on staying and if you can accept the reality that you will not sell for profit (rather you will be happy to get what you paid). I have no regrets buying my condo. 

[Will B Good]

2 minutes ago, nickmondo said:

I used to believe renting was the only thing to do here as a single man.

but now, in a LTR I am more than happy to buy a house, and more than happy to leave it to my Thai gf after i die.  I dont have any other dependants and Im bloody sure my siblings wont be getting their greedy mits on it.

I dont care about selling and making a profit.  Im 67 and will not move until I die.

I will never go back to UK.........English people will know why.......current situation there.

I have bought next to a golf course, on a secure brand new village, and 10 minutes from the city and beaches.

I could have continued to rent, but quality houses now are 25k plus a month.

So based on the maths.....decided to buy.

Still got enough income and savings to last until Im 95, so should be fine.

House cost 4.8 million baht, 3 beds, 2 baths, so if i did want to rent it out for whatever reason, Im going to get much more income than leaving the 4.8 million n the bank or in the UK.

so all bases covered as far as i am concerned.

 

 

 

The interest on your capital would cover the rent and you would have the total freedom to up sticks and move if necessary plus with renting you carry none of the risks....fire, subsidence, coups, maintenance.......

 

On top of that you retain your capital and don't run the additional risk of having a fire sale if money is needed in an emergency.

[Kinok Farang]

IMHO,ROI,LOL.

[Toby1947]

On 8/26/2024 at 8:16 AM, BritManToo said:

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

You'll be dead soon!

Spot on, but let the silly old fools get on with it. Condos not worth a carrot in Thailand, but let the fools think they're men of means. 🤣😂🤣

[Hummin]

9 minutes ago, Toby1947 said:

Spot on, but let the silly old fools get on with it. Condos not worth a carrot in Thailand, but let the fools think they're men of means. 🤣😂🤣

If you own a condo for 10 years, how much do you pay in rent in comparison for an 70m2 appartment  with kithcen do you think? 

 

I would like to see the math for a decent place to live and how much you pay for byiong, paying common fees, and maybe some meaintenance. 

 

buying prise 5 mil, and common rent prise is 5% a year for the same appartment. What do you have left if you sell the appertment after 10 years, and 15 years. 

 

 

[Scouse123]

I wouldn't buy a condo now, My age is a factor, and the market is saturated these days.

 

I did buy some cheap condos in Pattaya in the nineties and rented them out and afterwards sold them at a profit. Not a huge profit, but profit all the same.

 

However, I was around 36 years old then, now I am 62.

 

I have a compound of houses, walled in, up in the sticks, that I designed and had built.

 

Next door is the mother, but a wall and gate separates us from her.

 

To the rear, we have one rented out to a Filipina teacher, and the other one is for when guests come and stay, such as my sons.

 

It is bliss for my partner, near the mother and family, we have all mod cons, that I have in Europe.

 

it was built many years ago now, but I have always stayed on top of maintenance.

 

ROI ET airport is 50 minutes, and from there I can get to Don Muang and any resort in Thailand and most of SE Asia, which I do often.

[khunPer]

On 8/26/2024 at 5:48 AM, Conan The Barbarian said:

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

On long term – like 15+ years – owning is better than renting, as a rent is based on a percentage of the property's value, often between 8% and 12%. Capital gain adjusted for inflation during owning-period might not be high in Thailand – of course depending on location and condition of the apartment building – perhaps one shall just be happy not to lose anything.

[arick]

17 hours ago, OneMoreFarang said:

That is only the case if you paid too much.

No it's not.

[arick]

5 hours ago, john donson said:

 

not everybody gets 4.7% ...we don't all come from USA/UK/AUS... I only get 2.5% MAX with santander, uk is 5%...but not resident, blabla...

Your problem 

[arick]

5 hours ago, brianthainess said:

I was happily renting (monthly) a unfurnished house for about 4 yrs, living with my then GF, now my wife, then the Owner wanted it back,

 So I was then left with all my furniture, 2 cats, and dog to find somewhere else in that area that I like, none were available, so we found 1 ria of land in a really lovely spot, and not so far from the village, up a quiet side soi, and no chance of flooding at 43 meters above sea level.

 I paid 1.7b million for the land, about 10yrs ago, spent about 1.2m on a small house build, 

 The old landlord was desperate for money so I paid him an extra 3months rent, that gave us the time needed to have the house built, best thing I have ever done, property wise.

 At current house rents where I am that is 1-1.2 million saved in rent, the land value now would be at least 2.5 as when I brought it only a dirt road, but now is concrete government road, + we could always sell 1/2 ria. the land has established fruit trees. I'm 73 and not dead yet. 

Yes and you could if save 1 million and moved a half an hour away and bought 3 rai

[OneMoreFarang]

31 minutes ago, khunPer said:

rent is based on a percentage of the property's value, often between 8% and 12%

 

So, to make the calculation simple for a property that cost 10 million you would expect rent between 800k to 1.2m per year? Like 67k to 100k rent per month? Really? Where? 

[Celsius]

1 hour ago, nickmondo said:

I used to believe renting was the only thing to do here as a single man.

but now, in a LTR I am more than happy to buy a house, and more than happy to leave it to my Thai gf after i die.  I dont have any other dependants and Im bloody sure my siblings wont be getting their greedy mits on it.

I dont care about selling and making a profit.  Im 67 and will not move until I die.

I will never go back to UK.........English people will know why.......current situation there.

I have bought next to a golf course, on a secure brand new village, and 10 minutes from the city and beaches.

I could have continued to rent, but quality houses now are 25k plus a month.

So based on the maths.....decided to buy.

Still got enough income and savings to last until Im 95, so should be fine.

House cost 4.8 million baht, 3 beds, 2 baths, so if i did want to rent it out for whatever reason, Im going to get much more income than leaving the 4.8 million n the bank or in the UK.

so all bases covered as far as i am concerned.

 

 

Yes you will die soon so buying makes sense 

[BritManToo]

58 minutes ago, Hummin said:

If you own a condo for 10 years, how much do you pay in rent in comparison for an 70m2 appartment  with kithcen do you think? 

 

I would like to see the math for a decent place to live and how much you pay for byiong, paying common fees, and maybe some meaintenance. 

 

buying prise 5 mil, and common rent prise is 5% a year for the same appartment. What do you have left if you sell the appertment after 10 years, and 15 years. 

 

 

What if you are dead next year?

Think of all the fun/meals/holidays you missed out on by wasting that 5m!

[Will B Good]

3 minutes ago, OneMoreFarang said:

 

So, to make the calculation simple for a property that cost 10 million you would expect rent between 800k to 1.2m per year? Like 67k to 100k rent per month? Really? Where? 

 

Mmmm....I watch rents for a couple of properties I'm interested in...... nice ones, well appointed.....lived there before BKK soi 8/soi 11.....6 million gets you 20k rent, 25k at a real push. 

 

Not a 'bad' return if you expect the value to appreciate....but nothing like 12% plus.

 

 

[Hummin]

4 minutes ago, BritManToo said:

What if you are dead next year?

Think of all the fun/meals/holidays you missed out on by wasting that 5m!

if Im dead next year, it would not change my life today. I live my life day to day as tomorow never comes, and why should I worry about dying? I wouldnt know what Im missing when Im dead. 

 

My wife would had an nice asset left behind from me

 

 

[new2here]

I think it’s very very situational and dependent on your total financial picture 

 

I bought 4 years ago - a former show unit - on Sathorn Road .. as Sathorn is essentially fully developed, there isn’t a lot of risk of a whole lot of new units coming on the market in my immediate area…  I got a deal on the price - but also the seller kicked in nearly all of the showroom furnishings (otherwise they’d have to pay to have them removed and taken back to the original seller) - so my purchase kind of became a “turn key” situation.

 

As for profits — the way I looked at it … so long the condo didn’t DEpreciate more than i would have paid someone else in rent, then I’m happy.  After 4 years, I’m a little above where I paid - maybe 5% to 10% max if I pushed it - but I cede that had I taken the purchase price of the condo and wisely invested that back in the US and paid rent here, I would probably be ahead mathematically… but for me, that wasn’t the goal per se.

 

I wanted to own so I would control where I live and the issues surrounding it..  but i also cede that with renting, you gain the benefit of having the ability to largely walk  away and call a problem  “not my problem”  whereas owning comes with longer term financial liabilities… and some risks; call me condo boards, surprise assessments etc 

[Dogmatix]

Best thing is to buy a pricy infinity pool villa and put it in the name of your girlfriend you met in a bar or in the name of someone trustworthy recommended by the real estate agent or your Thai lawyer.

[Will B Good]

29 minutes ago, new2here said:

I think it’s very very situational and dependent on your total financial picture 

 

I bought 4 years ago - a former show unit - on Sathorn Road .. as Sathorn is essentially fully developed, there isn’t a lot of risk of a whole lot of new units coming on the market in my immediate area…  I got a deal on the price - but also the seller kicked in nearly all of the showroom furnishings (otherwise they’d have to pay to have them removed and taken back to the original seller) - so my purchase kind of became a “turn key” situation.

 

As for profits — the way I looked at it … so long the condo didn’t DEpreciate more than i would have paid someone else in rent, then I’m happy.  After 4 years, I’m a little above where I paid - maybe 5% to 10% max if I pushed it - but I cede that had I taken the purchase price of the condo and wisely invested that back in the US and paid rent here, I would probably be ahead mathematically… but for me, that wasn’t the goal per se.

 

I wanted to own so I would control where I live and the issues surrounding it..  but i also cede that with renting, you gain the benefit of having the ability to largely walk  away and call a problem  “not my problem”  whereas owning comes with longer term financial liabilities… and some risks; call me condo boards, surprise assessments etc 

 

But that is exactly what you give up when you buy.

 

Regardless I hope things still pan out for you.

[redwood1]

Its just unfortunate that people die and lose 100% of their lifes investments....

 

It must be just brutal if you have 10s or 100s of millions of dollars.

 

Lucky I dont have that problem.... 

[Dogmatix]

Having lived in both rented and owned accommodation I found it very frustrating that the owner of my apartment, who was from a very wealthy family that owned a bank, would always nickel and dime over renovations and repairs.  Once I claimed the aircon in the living had become very noisy and didn't cool enough, even after servicing.  The manager put in my request for a replacement and he came back about a week later saying it still had plenty of useful live left in it.  A few days later it blow up with a low explosion that left water and mess in the living room and couldn't be repaired.  

 

Since living in my own property, I can repair or replace anything I like but the frustrating thing is that I have to pay for it myself.
 

[scubascuba3]

During covid was a great time to buy, prices have risen now, funny at the time people thought prices would be going down.

 

Worth buying in 40s, 50s and probably 60s if you plan to stay in Thailand.

 

Some say can make more money elsewhere and just rent, but we know "investments can go down as well as up" funny enough down more often for many