Good Article

[CGW]

When the first Thai web board started up 10 or so years ago, one of the first posts was probably warning others of the dangers of buying land in Thailand under the 49% law.

Be a reasonable assumption to think these same people have been paying rent for the past ten years or so, they are probably at the lower end of the rent scale, but still will have paid out a considerable sum, had they bought the property it would have been theirs long ago!

"The entire legal structure that regulates real estate could change tomorrow."

The legal structure in Thailand services "legal" properties by paying submitting and paying taxes, plus a service fee off course, are they going to shoot them selves in the foot and remove this lucrative source of income?

I suspect that many who jump on the "never buy in Thailand" band wagon simply don't have the resources to do so.

For some it makes good perfect sense to buy, little is ever mentioned about quality of life, living in your own place undoubtedly adds "quality" to your life! what value do we put on this?

[LennyW]

When the first Thai web board started up 10 or so years ago, one of the first posts was probably warning others of the dangers of buying land in Thailand under the 49% law.

Be a reasonable assumption to think these same people have been paying rent for the past ten years or so, they are probably at the lower end of the rent scale, but still will have paid out a considerable sum, had they bought the property it would have been theirs long ago!

"The entire legal structure that regulates real estate could change tomorrow."

The legal structure in Thailand services "legal" properties by paying submitting and paying taxes, plus a service fee off course, are they going to shoot them selves in the foot and remove this lucrative source of income?

I suspect that many who jump on the "never buy in Thailand" band wagon simply don't have the resources to do so.

For some it makes good perfect sense to buy, little is ever mentioned about quality of life, living in your own place undoubtedly adds "quality" to your life! what value do we put on this?

Wise words CGW, one thing that always perplexes me when discussing real estate is that everybody has to be looking at the investment returns angle, yes this is important too, but a lot of people do actually buy a property because they have a life here and want to live in it, raise a family etc.

[Pakboong]

A major concern with the pattaya condo situation is that Bangkok Thai owner occupiers or long weekenders are not buying anymore in sufficinet numbers, particulary in the affordable mid range which is the new foundation of the market, and increasingly this is the sector which is most at odds with the markets viability - necessitating 51% local ownership. Thai's with this level of spending power simply do not want to co-habitate with foreigners of generally a low - mid class background. They buy condos in Hua Hin.

If the mid-class locals continue not to desire condo ownership in Pattaya then I agree that the re-sales outlook is bleak. Local Pattaya Thai's do not have the spending power or perhaps even desire to buy these condos, and the majority are migrant workers anyway that would sooner build a home where they originate from.

The world wide housing bubble has burst because Thais do not want to live in the same buildings as lower class farangs?

Most Thais in general have never preferred living next door to a farang; especially if that farang has a peasant GF or BF.

[Pakboong]

When the first Thai web board started up 10 or so years ago, one of the first posts was probably warning others of the dangers of buying land in Thailand under the 49% law.

Be a reasonable assumption to think these same people have been paying rent for the past ten years or so, they are probably at the lower end of the rent scale, but still will have paid out a considerable sum, had they bought the property it would have been theirs long ago!

"The entire legal structure that regulates real estate could change tomorrow."

The legal structure in Thailand services "legal" properties by paying submitting and paying taxes, plus a service fee off course, are they going to shoot them selves in the foot and remove this lucrative source of income?

I suspect that many who jump on the "never buy in Thailand" band wagon simply don't have the resources to do so.

For some it makes good perfect sense to buy, little is ever mentioned about quality of life, living in your own place undoubtedly adds "quality" to your life! what value do we put on this?

I borrowed the quote below from another TV thread but it does apply here:

..."In any society, real power is having the ability to write these sorts of privileges into the law and constitution. In old Siam, the aristocracy once enjoyed many such immunities and privileges, but over the past century almost all of them have been swept away."

The spirit of current Thai law is that foreigners have minimum control over their own lives and very little else. These laws have crept into the constitution over the last 60 or so years. They were at one time directed at Chinese immigrants but times have turned these same laws toward the western invaders. The guys turning these laws are still in charge and will turn them even tighter if they in any way feel threatened.

Edited February 10, 2010 by Pakboong

[dickie58]

When the first Thai web board started up 10 or so years ago, one of the first posts was probably warning others of the dangers of buying land in Thailand under the 49% law.

Be a reasonable assumption to think these same people have been paying rent for the past ten years or so, they are probably at the lower end of the rent scale, but still will have paid out a considerable sum, had they bought the property it would have been theirs long ago!

"The entire legal structure that regulates real estate could change tomorrow."

The legal structure in Thailand services "legal" properties by paying submitting and paying taxes, plus a service fee off course, are they going to shoot them selves in the foot and remove this lucrative source of income?

I suspect that many who jump on the "never buy in Thailand" band wagon simply don't have the resources to do so.

For some it makes good perfect sense to buy, little is ever mentioned about quality of life, living in your own place undoubtedly adds "quality" to your life! what value do we put on this?

CGW,

I second that very wise words, & as Lenny says more people should consider that buying a place should be for there home, not just an investment, or rental return/income.

I come from the UK, but i've been living in Thailand for 15 years, Pattaya is my home now.

Although it may not be perfect, where is? It suits me.

[LennyW]

The world wide housing bubble has burst because Thais do not want to live in the same buildings as lower class farangs?

Most Thais in general have never preferred living next door to a farang; especially if that farang has a peasant GF or BF.

Oh really, what are you on!!!!

[Tejas]

When the first Thai web board started up 10 or so years ago, one of the first posts was probably warning others of the dangers of buying land in Thailand under the 49% law.

Be a reasonable assumption to think these same people have been paying rent for the past ten years or so, they are probably at the lower end of the rent scale, but still will have paid out a considerable sum, had they bought the property it would have been theirs long ago!

"The entire legal structure that regulates real estate could change tomorrow."

The legal structure in Thailand services "legal" properties by paying submitting and paying taxes, plus a service fee off course, are they going to shoot them selves in the foot and remove this lucrative source of income?

I suspect that many who jump on the "never buy in Thailand" band wagon simply don't have the resources to do so.

For some it makes good perfect sense to buy, little is ever mentioned about quality of life, living in your own place undoubtedly adds "quality" to your life! what value do we put on this?

Thais have repeatedly "shot themselves in the foot......removing lucrative sources of income."

You are thinking like a rationale person who understands economics--at least as most people/countries outside of Thailand embrace it.

TIT. Odd economic behavior is the norm.

As far as your idea that the "never buy in Thailand" crowd is poor.

No doubt some are poor and resent the rich (what else is new?).

Others have the resources but don't like what they see in terms of rules, regulations, security, pollution, xenophobia, etc.

Some of these people want to make money and know there are better places to invest in real estate.

Others are considering retiring here but don't like what they see--again, too much insecurity in all sectors.

IMHO, the real estate market has not hit bottom.

[CGW]

Many people in their quest to be constantly negative about Pattaya real estate like to think that the only real estate in the world that is down is here, punters are few on the ground, one of the reasons for this is that they are unable to sell their property in their home countries, this is the biggest correction the industrial world has ever seen, as history will doubtless record!

It will be a few years before things bounce back, if they ever recover to previous levels - personally I doubt it?

[Tolley]

Nice to hear a different view. Thailand as it's faults no doubt but it has plenty of offsets that make it a desireable retirement location for many of us.

for a long time i have been wondering why the tax advantage of Thailand is mentioned by only a handful people. did those others who are moaning never pay any taxes in their home countries? how can somebody recommend

"Plenty of beachside properties of good value in Australia outside the capital cities for 25 million baht or thereabouts and you can bank on it being a good investment."

and not take into consideration the huge big difference in living cost and especially the income tax which, for a high net worth individual, is more than he spends in Thailand for a comparatively luxurious lifestyle? that's beyond my comprehension! would perhaps the poster concerned enlighten me why an investment which renders a negative yield is "good"?

I don't know anything about the rules for retiring in Australia for non residents other than you need a bucket load of cash but the fact remains that buying property in Australia is a pretty good investment whereas buying property in Thailand is not such a good investment. Many foreigners buy property in Australia and make good money from their investments. In Thailand this is often not the case and in fact can be a complete disaster for many.

[Naam]

I don't know anything about the rules for retiring in Australia for non residents other than you need a bucket load of cash but the fact remains that buying property in Australia is a pretty good investment whereas buying property in Thailand is not such a good investment. Many foreigners buy property in Australia and make good money from their investments. In Thailand this is often not the case and in fact can be a complete disaster for many.

i fully agree. but you obviously do not take the bottom line into consideration and we all know that it is always the bottom line that counts. in my (our) case living in Australia i would burn the total cost of my thai home every 4½ years just by paying Oz income tax and i have spend more building my house than the OP's asking price of 25 million Baht. add to that the much higher cost of living and zero chance being able to afford 3 fulltime domestic employees which makes my wife's and of course my life a much more comfortable one.

do you know any case where somebody lost 100% of his property investment in Thailand within 4½ years except those which were cheated by girl/boyfriends or wives?

[sharecropper]

I'l be buying all your property soon, as I will be so loaded. I have just been offered this unique opportunity by email, me:

Dear friend,

I have a project I want you to run with us.

It involves exportation of 35,000 barrels of oil daily from Kirkuk, Iraq.

If you are interested, email me via:[ ]

Mr. Yan

[Naam]

I suspect that many who jump on the "never buy in Thailand" band wagon simply don't have the resources to do so. For some it makes good perfect sense to buy, little is ever mentioned about quality of life, living in your own place undoubtedly adds "quality" to your life! what value do we put on this?

those who don't have the resources can hardly put a value on what you are referring too.

[CGW]

I suspect that many who jump on the "never buy in Thailand" band wagon simply don't have the resources to do so. For some it makes good perfect sense to buy, little is ever mentioned about quality of life, living in your own place undoubtedly adds "quality" to your life! what value do we put on this?

those who don't have the resources can hardly put a value on what you are referring too.

You have a very dark, wry sense of humour "Naam" -

[yankee99]

Nice to hear a different view. Thailand as it's faults no doubt but it has plenty of offsets that make it a desireable retirement location for many of us.

for a long time i have been wondering why the tax advantage of Thailand is mentioned by only a handful people. did those others who are moaning never pay any taxes in their home countries? how can somebody recommend

"Plenty of beachside properties of good value in Australia outside the capital cities for 25 million baht or thereabouts and you can bank on it being a good investment."

and not take into consideration the huge big difference in living cost and especially the income tax which, for a high net worth individual, is more than he spends in Thailand for a comparatively luxurious lifestyle? that's beyond my comprehension! would perhaps the poster concerned enlighten me why an investment which renders a negative yield is "good"?

I don't know anything about the rules for retiring in Australia for non residents other than you need a bucket load of cash but the fact remains that buying property in Australia is a pretty good investment whereas buying property in Thailand is not such a good investment. Many foreigners buy property in Australia and make good money from their investments. In Thailand this is often not the case and in fact can be a complete disaster for many.

In regards the usa vs thailand. When i purchased (2007) my condo in south florida. I paid 160,000 us for it. This was a brand new unit 2000sqf. It was located in a blue collar neighborhood nothing fancy. Now the fees yearly maintenance $4200, yearly taxes $4900, utilities $2400, mortgage $18000 total of around $30,000. Trust me i am sure i have some more expenses. Now the units are selling bank owned for under 80k. If i rented i would still be negative. Now the average studio in pattaya has cost me a total of $60,000 (totally renovated) and i am getting over 5% return. Just seems at this time to be a better investment. Plus the advantages of living in thailand compared to the states is huge.......

Edited February 10, 2010 by yankee99

[dickie58]

A UK mate of mine who lives in Ptty, bought a pre-owned VT studio last month for 1.2 milion bht, he has just rented it out on a short 3 month rental at 14,000 bht per month.

I've not seen it but been told by a couple of other people, the unit he bought was nice & a bargain?!!

So from a few of the posts above, it is still a good investment to buy property in Ptty, especially considering what Yankee says above about his condo in Florida.

Although i spent some time in OZ back in 1988/89 & have been back twice since, Although i did not take any interest in property prices then, i think it is fair to say the average price of a nice home in Ptty (5 to 6 milion bht), is still cheaper than something similar in OZ?

Last summer i went back to Spain on the North east coast, near Gerrona, "Callela de Pallafrugell", we use to go there when we were young with my parents, property there use to be peanuts then, I hadn't been there in over 20 years, property prices there are now frightniengly expensive, looking at some prices in a real estate agents window made me shiver!!

My sister next door neighbour in London has a holiday house there, they invited us for lunch one day, very small 2 storey terraced town house, 2 bedrooms, with very small garden, 80sqm tops i would say, very nicely done, 2 miles from the beach no sea views, they we saying one a couple of doors sold a couple of months before for 360,000 euro.

Edited February 10, 2010 by dickie58

[Tolley]

I don't know anything about the rules for retiring in Australia for non residents other than you need a bucket load of cash but the fact remains that buying property in Australia is a pretty good investment whereas buying property in Thailand is not such a good investment. Many foreigners buy property in Australia and make good money from their investments. In Thailand this is often not the case and in fact can be a complete disaster for many.

i fully agree. but you obviously do not take the bottom line into consideration and we all know that it is always the bottom line that counts. in my (our) case living in Australia i would burn the total cost of my thai home every 4½ years just by paying Oz income tax and i have spend more building my house than the OP's asking price of 25 million Baht. add to that the much higher cost of living and zero chance being able to afford 3 fulltime domestic employees which makes my wife's and of course my life a much more comfortable one.

do you know any case where somebody lost 100% of his property investment in Thailand within 4½ years except those which were cheated by girl/boyfriends or wives?

I don't doubt nor dispute that you can get a lot more bang for your buck in Pattaya compared to Australia.

However if you are truly only concerned with the bottom line you would invest in Australian property and rent in Pattaya.

Edited February 11, 2010 by Tolley

[CGW]

I don't know anything about the rules for retiring in Australia for non residents other than you need a bucket load of cash but the fact remains that buying property in Australia is a pretty good investment whereas buying property in Thailand is not such a good investment. Many foreigners buy property in Australia and make good money from their investments. In Thailand this is often not the case and in fact can be a complete disaster for many.

i fully agree. but you obviously do not take the bottom line into consideration and we all know that it is always the bottom line that counts. in my (our) case living in Australia i would burn the total cost of my thai home every 4½ years just by paying Oz income tax and i have spend more building my house than the OP's asking price of 25 million Baht. add to that the much higher cost of living and zero chance being able to afford 3 fulltime domestic employees which makes my wife's and of course my life a much more comfortable one.

do you know any case where somebody lost 100% of his property investment in Thailand within 4½ years except those which were cheated by girl/boyfriends or wives?

I don't doubt nor dispute that you can get a lot more bang for your buck in Pattaya compared to Australia.

However if you are truly only concerned with the bottom line you would invest in Australian property and rent in Pattaya.

Would taxes not apply to any profit you made?

[jb4446]

Yes they would be after you.Clear off as quickly as you can.The tax sods were after me for a while,but I got to hate the country I was living in ,so regarded it as a poke in the eye for them.

[Naam]

However if you are truly only concerned with the bottom line you would invest in Australian property and rent in Pattaya.

and pay Oz income tax on the returns? i'm a global investor and invest only when tax free yields are provided. moreover, i don't buy illiquid assets, like real estate, for investments. i buy what i can sell again within minutes after i bought it if i don't like it.

my house in Pattaya is not an investment but a part of my lifestyle. six years ago we were considering renting and had a monthly budget of 200,000 Baht. after looking at two or more dozen sh*tty houses with harebrained floor plans (not to talk about the colours) in the bracket of 150-200k Baht we decided to build an identical home to that we built and lived for 11 years in another country.

Edited February 11, 2010 by Naam

[Naam]

Yes they would be after you.Clear off as quickly as you can.The tax sods were after me for a while,but I got to hate the country I was living in ,so regarded it as a poke in the eye for them.

as a non-resident investor you are even more screwed by the Oz taxman than living there!

[Naam]

I suspect that many who jump on the "never buy in Thailand" band wagon simply don't have the resources to do so. For some it makes good perfect sense to buy, little is ever mentioned about quality of life, living in your own place undoubtedly adds "quality" to your life! what value do we put on this?

those who don't have the resources can hardly put a value on what you are referring too.

You have a very dark, wry sense of humour "Naam" -

in general i possess quite some humour CGW but what i said is nothing but a factual statement.

[Tolley]

However if you are truly only concerned with the bottom line you would invest in Australian property and rent in Pattaya.

and pay Oz income tax on the returns? i'm a global investor and invest only when tax free yields are provided. moreover, i don't buy illiquid assets, like real estate, for investments. i buy what i can sell again within minutes after i bought it if i don't like it.

my house in Pattaya is not an investment but a part of my lifestyle. six years ago we were considering renting and had a monthly budget of 200,000 Baht. after looking at two or more dozen sh*tty houses with harebrained floor plans (not to talk about the colours) in the bracket of 150-200k Baht we decided to build an identical home to that we built and lived for 11 years in another country.

It seems like you fit into the category of enough money not to really worry about whether you get a return on your home investment in Thailand or not.

BTW Everyone has to pay tax in Australia but you do get a much better infrastructure, judiciary, police, political stability,healthcare etc than you get in places like Thailand. It is a trade off but for most people the protection this affords is worth the tax.

[thaimate]

Listen ,you can argue this point till we are all blue in the face ,some want to rent with the abilaty to move wherever and whenever they want to,some want to buy and not move ,as it takes so long to sell(for most people) here in Pattaya.

myself in England i owned houses and if i wanted i sold and moved with very little hassle(this on the whole is not possible here). i retired here with my wife and son ,i dont want to be tied to a property where i may get a terrible neighbour,iwant for my last years to be free to do what i please when i please,i have enough money invested that not only pays half my rent (it would take between 20/25 years to pay for the house i live in,b@2locks to that ive had enough of being tied down ,there is enough money for my wife to build where and what she wants ,or stay here when ime gone.

That is what some of us want and some of us dont ,so lets stop this pointless discussion now.

[jb4446]

What was true 10 years ago re buying property,sure as hel_l is not true these days.Prices are steady only because owners are not dropping their prices,that will not last forever,fire sales will happen more and more as whatever reason you eventually leave. Having a condo for 10 years plus frightens me,one bloody boring view year in year out,nice to be able to move now and again.

The market is saturated with property to sell,more in the sidelines too as owners realise that putting their properties up for sale is pointless.

[Naam]

It seems like you fit into the category of enough money not to really worry about whether you get a return on your home investment in Thailand or not.

BTW Everyone has to pay tax in Australia but you do get a much better infrastructure, judiciary, police, political stability,healthcare etc than you get in places like Thailand. It is a trade off but for most people the protection this affords is worth the tax.

Tolley, as i said... i do not consider my house an investment and i do not expect any financial return on it. but each and every day my wife and i are getting our return as far as 'quality of life' is concerned.

i agree that infrastructure, etc. in Australia is much better than in Thailand. but healthcare is definitely not better. Thailand (especially Bangkok and even Pattaya) has some excellent hospitals of international standards. i've been several times hospitalised for a day or two and my german private health insurance did not wink an eye when they saw "executive suite" on the invoice and paid without hesitating. how many hospitals do exist in Australia where you can, for a fair price, book a suite with an additional bedroom and additional bathroom? a year i had open heart surgery in my home country. booked the only available "suite" for additional EUR 1,100 (at that time Baht 55,000) per day. it was a regular but big hospital room with an attached tiny room of perhaps 6m² where my wife stayed. in Thailand a suite would have been a real suite for a fraction of the price.

having said so i admit we would have bitten the bullet more than a decade ago, id est if the rules for foreign retirees had not changed we would live today on a mountain top in Queensland with an unobstructed view of the sea. we still like Australia and go there for extended holidays every other year. we like the people and of course we like that Aussies speak a language we master.

[123ace]

What was true 10 years ago re buying property,sure as hel_l is not true these days.Prices are steady only because owners are not dropping their prices,that will not last forever,fire sales will happen more and more as whatever reason you eventually leave. Having a condo for 10 years plus frightens me,one bloody boring view year in year out,nice to be able to move now and again.

The market is saturated with property to sell,more in the sidelines too as owners realise that putting their properties up for sale is pointless.

Aside from the low/mid market bulk of supply which should be seen as a sub-market, I don't think prices will drop too any great extent as this would require a majority (not just a lot, or seemingly a lot of them) of units in the market to be actually for sale at any given time (i.e now). With at least half of the new high end condos not expected to happen any time soon, if ever, then I do not forsee a fire sale enviroment, just a few islolated heavily discounted sales.

Fire sales don't last long and are the precursor to an uplift. they allow investors to get in and make money on the upside. Whilst many may object to this, this is what just happened in Hong Kong and Singapare where prices dropped by circa 30% and have recovered in many cases in excess of the previous market high of late 2008.

Current values (sales evidence based) seem to revert back to the specific property in question rather than the wider market trend. Average, poorly located buildings will lose value faster in any testing market, particularly where locals do not wish own this type of property (indigenous Pattaya locals) and the foreign buyer on the most part starts off as a single male without dependants.

Ultimately we need Thai buyers to stimulate the market, and mortgages for foreigners would help anything over THB 10m. The absence of these further compounds the pressure on the less desirable units that form bulk of the market which is now overly reliant on a sigle demographic - Newly arrived single male expat with disposlable income.

However, unless the bulk of existing owners in this bracket are not seeking to sell, or being 'forced' to sell then the market will remain steady irrespective.

A fire sale or drastic downturn would allow the market to reach its natural bottom and then recover. However I can't see that happeneing this time.

[PattayaParent]

However if you are truly only concerned with the bottom line you would invest in Australian property and rent in Pattaya.

and pay Oz income tax on the returns? i'm a global investor and invest only when tax free yields are provided. moreover, i don't buy illiquid assets, like real estate, for investments. i buy what i can sell again within minutes after i bought it if i don't like it.

It seems like you fit into the category of enough money not to really worry about whether you get a return on your home investment in Thailand or not.

BTW Everyone has to pay tax in Australia but you do get a much better infrastructure, judiciary, police, political stability,healthcare etc than you get in places like Thailand. It is a trade off but for most people the protection this affords is worth the tax.

Not really much use to you though if you're living in Pattaya? So why pay tax and not get the benefits fromit?

[Pakboong]

What was true 10 years ago re buying property,sure as hel_l is not true these days.Prices are steady only because owners are not dropping their prices,that will not last forever,fire sales will happen more and more as whatever reason you eventually leave. Having a condo for 10 years plus frightens me,one bloody boring view year in year out,nice to be able to move now and again.

The market is saturated with property to sell,more in the sidelines too as owners realise that putting their properties up for sale is pointless.

Aside from the low/mid market bulk of supply which should be seen as a sub-market, I don't think prices will drop too any great extent as this would require a majority (not just a lot, or seemingly a lot of them) of units in the market to be actually for sale at any given time (i.e now). With at least half of the new high end condos not expected to happen any time soon, if ever, then I do not forsee a fire sale enviroment, just a few islolated heavily discounted sales.

Fire sales don't last long and are the precursor to an uplift. they allow investors to get in and make money on the upside. Whilst many may object to this, this is what just happened in Hong Kong and Singapare where prices dropped by circa 30% and have recovered in many cases in excess of the previous market high of late 2008.

Current values (sales evidence based) seem to revert back to the specific property in question rather than the wider market trend. Average, poorly located buildings will lose value faster in any testing market, particularly where locals do not wish own this type of property (indigenous Pattaya locals) and the foreign buyer on the most part starts off as a single male without dependants.

Ultimately we need Thai buyers to stimulate the market, and mortgages for foreigners would help anything over THB 10m. The absence of these further compounds the pressure on the less desirable units that form bulk of the market which is now overly reliant on a sigle demographic - Newly arrived single male expat with disposlable income.

However, unless the bulk of existing owners in this bracket are not seeking to sell, or being 'forced' to sell then the market will remain steady irrespective.

A fire sale or drastic downturn would allow the market to reach its natural bottom and then recover. However I can't see that happeneing this time.

No matter the twist you put on this, CBRE still insists foreign demand is off 90%.

[Laganside]

I suspect that many who jump on the "never buy in Thailand" band wagon simply don't have the resources to do so.

For some it makes good perfect sense to buy, little is ever mentioned about quality of life, living in your own place undoubtedly adds "quality" to your life! what value do we put on this?

Possibly, but not always the case. Ordinarily I would agree that in the long term purchase over renting is the better option but Thailand does present risks that question that assumption and makes investing cash in secure Western institutions, there are still some (!), producing income sufficient to defray rental costs still an attractive proposition. Committing oneself to home purchase in Thailand can be fraught not least because selling it in the future at a reasonable price may well prove impossible. The other main worries are inevitably the prospect of neighbours from hel_l about whom nothing can be done and the risk that nonexistent planning laws will destroy the environment which may have seduced you to buy in the first place. In either case one's quality of life will inevitably suffer - those who choose to rent can always simply up stumps and move on with nary another thought.

[Naam]

I suspect that many who jump on the "never buy in Thailand" band wagon simply don't have the resources to do so.

For some it makes good perfect sense to buy, little is ever mentioned about quality of life, living in your own place undoubtedly adds "quality" to your life! what value do we put on this?

Possibly, but not always the case. Ordinarily I would agree that in the long term purchase over renting is the better option but Thailand does present risks that question that assumption...

both possibilities are based on individual demand and opinion. "purchasing" per se does not include the option building your home exactly according to your specifications. for those -like my wife and me- who are crazy enough to think that "quality of life item no.1" is living in an environment created according to our needs and demands the purchase of an existing home seems to be out of question. until recently i thought we were the only "loonie" ones but two of my friends who will settle here soon have the same opinion. both looked at dozens of houses and then decided to build although they might spend double the money because of the prevailing economic situation.