Is it better to rent or buy if you can afford to buy and have spare cash ?

[MaeJoMTB]

Mortgage 10,000 a month. Usual rent for similar 13/15000 a month.

House is 1 year from being paid off, wife works and pays mortgage.

After many years of renting move out and maybe, just maybe get your deposit back, 40/50000 baht.

Sell for half value and get 2/3000000 back.

Do the arithmetic and also pick the right wife.

For a Thai the home loan would be 10,000 a month or the rent for similar 5,000bht a month.

Seems like I picked the right wife.

[bazza40]

Reading through the posts here, I surmised the following - age and intention to retire here are paramount factors on deciding renting vs buying.

Those past mid-50s on a retirement visa would be more likely to buy if they have the cash.

Those with a regular pension or income but no large cash fund would most likely rent.

Those in their 30s and 40s would most likely rent due to their desire for mobility and a higher risk appetite for higher risk-returns form of investments.

You may be right; however, there will always be exceptions to the generalisation.

At age 72, on a retirement visa, I do have ample cash for buying. However, I choose not to because of all the potential problems of ownership here.

Comparatively speaking, it is dirt cheap to rent here. About one-quarter of the cost of an equivalent in Australia.

[Crossy]

There is no right answer to this question, it is different for every individual's situation. The amount of the rent has to be considered, the cost of the property if it's being purchased has to be considered as does the length of time you will be renting for. Renting for 5 years is a whole lot different from renting for 25 years.

I think SG got it in one (Post #9).

We bought land and built a place to be our home, not for investment. As it happens it would turn a decent profit if we were to sell, but that's not happening.

I hate moving house, having traipsed around the world for pushing 30 years (collecting a Thai wife in Italy of all places) it was time to stop and set up a proper home base. We rented in the area for 7 years before deciding to stay.

Most of my projects are in SE Asia, the Indian sub-continent and Middle-East are booming in my industry, both are within striking distance when SEA dries up (if I'm still working of course).

Land is big enough for my wife to indulge in her hobbies of watching plants grow and keeping assorted feathered friends.

Happy with our lot.

[ttthailand]

My thinking is about freedom and piece of mind so renting suites me fine here. I can get up and go when ever I wish. The $7,000 plus or minus dollars I spend a year on rent is nothing in the hole schema of things. In my home country totally different story. One thing I look at is also something I think most people forget or not want to look at and that is the amount you pay upfront and what that money can do for you invested in other ways. Example... If you invested $120,000 dollars back in 2008 in the U.S. Stock market there is a good chance it would now be worth over $200,000 or maybe $240,000 dollars. If you bought a condo in Pattaya in 2008 or many parts of Bangkok for the same amount do you think it would have doubled in value ? I think not ! There are risks in everything you do.

Unless you can buy at well below market value I would just keep my money in my home country and pay rent here. Also less chance of a woman getting her hands on it if it is in your country. Different strokes for different folks.

If you have a Thai family it also adds a different dimension. In that case get a bank loan and pay monthly for you housing.

[Robert24]

The same can be asked regardless of where you live. If you have paternal children in Thailand then you would buy for the sake of the children.

I looked at a townhouse on the beach in Ban Chang 5 br. 2 1/2 ba. 4.5 Mil asked the rent 15,000 baht a month. You do the math.

Let your children make their own way in life, it's good for them.

Dunno why all these old guys want to give their money to their children/wife/gf/MiL, nobody gave me anything, I had to go out and work for what I wanted.

do you have children?

[mike324]

Can't be too hard to calculate when your ROI would be if you purchase a unit based on the income from the rental units in the US. Like others have said, if you purchase a cheap real estate in far off location, your chances of selling is low compare to more expensive unit in a central location. Unless you can tell us how much rental you are pulling in and how much cash your have in your bank account, it would be hard for folks here to give you any advice.

Also what area do you want to live in? and how much is your budget for purchasing a unit.

[Pinot]

Never buy property in Thailand. It makes no financial sense.

[Robert24]

I think that depends on the Op's situation. Factors I would consider:

- your age

- your family situation. Do you want to have property in Thailand that at one point you can pass on to your children?

- returns on your properties in the US. Calculate whether you are better off selling 1 in the US and buy one here or whether it is cheaper for you to rent here and keep renting all properties out in the US.

- do you want to diversify your assets geographically? I.e. it looks like you have all your assets in the US. I recommend anyone to diversify assets also geographically, not only by asset class.

- how important is it to you to own your own place to stay in vs renting and the upside of flexibility.

- how well do you know Thailand. Are you sure you want to settle here and hence by property or would you prefer to stay here first a while before making a purchase.

- overall prices for properties are rather high. Remember you wouldn't be buying near a low but rather near a high. Doesn't mean it couldn't go up more, it's just something to keep in mind that sometimes property prices can correct as well. (say scenario that China economy would worsen with spill over to Thailand)

- do you know the market here sufficiently to make a purchase? If not I recommend to rent 1-2 years whilst you get familiar with the market, locations, where you want to stay, how you see the market and then buy.

hope this helps.

[Thunderbirds20]

unless you get a super buy, at well below market value, why tie up yor money in a condo. Rent is better, ...no worries if you want to move .. just give notice and you are gone. If you own you have to worry about it selling most likely before you can move and like now, it may not be a good time to sell.

It does not take much to make a place not desirable any more, ... a bad neighbor, a noisy business, construction, not to mention dealing with the co-owners about common areas, .. maintenence costs, .... if you rent a place and want to do improvements to pleas yorself the owner will most likely be all for it as long as you are paying

[ldnguy]

My thinking is about freedom and piece of mind so renting suites me fine here. I can get up and go when ever I wish. The $7,000 plus or minus dollars I spend a year on rent is nothing in the hole schema of things. In my home country totally different story. One thing I look at is also something I think most people forget or not want to look at and that is the amount you pay upfront and what that money can do for you invested in other ways. Example... If you invested $120,000 dollars back in 2008 in the U.S. Stock market there is a good chance it would now be worth over $200,000 or maybe $240,000 dollars. If you bought a condo in Pattaya in 2008 or many parts of Bangkok for the same amount do you think it would have doubled in value ? I think not ! There are risks in everything you do.

Unless you can buy at well below market value I would just keep my money in my home country and pay rent here. Also less chance of a woman getting her hands on it if it is in your country. Different strokes for different folks.

If you have a Thai family it also adds a different dimension. In that case get a bank loan and pay monthly for you housing.

That's a good point that's usually overlooked, but it can also work in reverse. You could have invested $120K and then it could be worth $60 a few years later. Then you'd wish you'd bought the condo. And if you're investing in USA there are also currency fluctuations to think about.

For me, buying is about having a place I want to live and call my own. Also somewhere I can renovate to exactly fit my needs. For a home I really don't care if I could have made more elsewhere because I don't see it as an investment. If I chose to invest it and did indeed make more money, I'd have to rent in the meantime and not be so happy. I would rather own my own place and be happy than make more money.

In your example, don't also forget to take into account that renting from 2008 to 2015 might have cost you around $50K (20,000 baht per month for 7 years). So then you're almost back to square one.

I wouldn't advise getting a Thai loan, as they are quite expensive from what I've seen. I'd prefer to pay cash.

[ldnguy]

unless you get a super buy, at well below market value, why tie up yor money in a condo. Rent is better, ...no worries if you want to move .. just give notice and you are gone. If you own you have to worry about it selling most likely before you can move and like now, it may not be a good time to sell.

It does not take much to make a place not desirable any more, ... a bad neighbor, a noisy business, construction, not to mention dealing with the co-owners about common areas, .. maintenence costs, .... if you rent a place and want to do improvements to pleas yorself the owner will most likely be all for it as long as you are paying

And what if you pay good money to renovate and then the owner doesn't renew your contract? Anyway, I doubt very much that any owner I've rented from so far would let me rip everything out and renovate to my design, even if I was paying. It obviously suits you, so that's great. Renting has also suited me for a good few years, but now I feel it's time to buy. But most likely a house not a condo.

House that are priced right and in good areas sell quite quickly. One sold don the road last year the same day it went up for sale. Another overpriced one on the same street hasn't sold in about 2 years. Being overpriced is usually the only reason property doesn't sell. People say they can't sell, but what they really mean is they can't sell at the price they want. Everything sells at the right price. But farangs in particular seem to overpay for property here. Locals seem to understand the pricing much better.

[bazza40]

But farangs in particular seem to overpay for property here. Locals seem to understand the pricing much better.

Yes, they certainly do. It's called Thai price and falang price. I suspect any Thai who sold property to a falang at the Thai price would be scorned by his/her peers as a poor business person.

The other factor is whether the property is new or old. Thais won't buy an old house, at the very least it has to be fully renovated. The price goes way down for an old property; however, falangs think they are getting a good deal at double the market.

I live in a condo where the falang price for a studio apartment ranges from 1.5 to 2 million baht. No Thai would pay more than 1 million.

[i claudius]

But farangs in particular seem to overpay for property here. Locals seem to understand the pricing much better.

Yes, they certainly do. It's called Thai price and falang price. I suspect any Thai who sold property to a falang at the Thai price would be scorned by his/her peers as a poor business person.

The other factor is whether the property is new or old. Thais won't buy an old house, at the very least it has to be fully renovated. The price goes way down for an old property; however, falangs think they are getting a good deal at double the market.

I live in a condo where the falang price for a studio apartment ranges from 1.5 to 2 million baht. No Thai would pay more than 1 million.

I do not know where you are ,but over the years my wife has sold to Thai and Falang , there are only two times when priced are higher and this goes for anybody , when the seller is an idiot and wants far to much and if the condo is in a foreign name , and then it is often a little higher , 99% of the foreigners she sells to are well clued up and will only pay the going price , anyone who pays 1.5 to 2 million for a condo worth 1 million is an idiot ,unfortunatly there are very very few of those buying lol or she would be laughing

[AlexRRR]

With the way that things are brewing in Thailand.....economically, politically and socially.....RENT.....at least when things happen, its easier to pack and leave. I made the mistake of buying a lot of properties in Bangkok and Up Country....but whne you need to sell......its hopeless....no one is buying and only whne you discount at a losts, maybe your porperty can move in this market. Rent and wait till you are really sure. Many long term decent expats that I know are now selling their properties cheaply to ove to Cambodia, Philippines, Vietnam and even Malaysia. Just take a look at prakard.com (avoid Craiglists and other farang sites as you have garbage farang real estate agents trying to rip off other farangs!)

Owning is always better and location says it all, been to Cambodia and the Phillipines and no chance would I consider buying there, Thailand suites me just fine.

[AlexRRR]

But farangs in particular seem to overpay for property here. Locals seem to understand the pricing much better.

Yes, they certainly do. It's called Thai price and falang price. I suspect any Thai who sold property to a falang at the Thai price would be scorned by his/her peers as a poor business person.

The other factor is whether the property is new or old. Thais won't buy an old house, at the very least it has to be fully renovated. The price goes way down for an old property; however, falangs think they are getting a good deal at double the market.

I live in a condo where the falang price for a studio apartment ranges from 1.5 to 2 million baht. No Thai would pay more than 1 million.

Your post is flawed, Thais will purchase older property's and do all the time, as for pricing with the lack of an industry like we have in Australia to sell real estate it's open season on buyers, sellers have to start somewhere so most will set a high price which in many cases isn't just a cash grab it's an unrealistic expectation of its worth.

A smart buyer will look at many properties, that smart buyer needs to understand locations prices can go up or down depending especially here in Thailand where this condo is, in AU you want to be away from everything but here you want it on the ground floor or within a 5 min walk.

[ldnguy]

Not just that, even if rent stays the same for 25 years and property values do not appreciate, after 25 years you would have paid off the house, so from then on, you live rent free and have an asset worth several millions that you can sell or use as collateral when taking a loan.

Assuming you live another 25 years.

Assuming you don't get too old/infirm/senile, and have to return to your home country for long term health care.

Assuming you don't get deported and black listed.

Assuming you have 800kbht in the bank to get a VISA.

I dunno, but some people might think buying in a country where you have no right to live might be somehow foolish.

If anyone who buys doesn't live for 25 years it will be completely irrelevant to them because they'll be dead. They will most likely have a will, so that side of things would be taken care of. No reason for them to get deported or blacklisted. I assume they have the 800K sorted as well otherwise they wouldn't buy in the first place. But if they don't have the 800K they'd have the same problem if they rented.

It's not for you though, so I'd advise you stay away. Far too dangerous for someone like you to be in Thailand. Best that you sit at home and keep worrying while the rest of us enjoy our lives.

You seem to be a very shallow thinker,

If you aren't going to last 25 years, leaving your money for someone else to spend is a bit of a waste.

There is a civil war coming,I can see them chucking all foreigners out, not to mention VISA rules change, police plant drugs, you can break minor laws, annoy the wrong person, etc.

You'd be surprised how many Thai wives convince their husbands to spend that 800k they have in the bank, can't have it in the bank and buy a house with it..

My wife has a very nice house,I'm happy to repay the home loan for her (while I'm living in it), it's a little bit like rent.

But I guess too many foreigners marry girls who have no credit.

You're worrying about things that will likely never happen. No point in doing that.

I'm not sure what 800K you're talking about, but if you mean the money for retirement visa purposes, I also spend mine every year. Not because I have a wife that tells me to but because I can't live on nothing. Before my renewal I replace it. I don't see what's wrong with that.

Glad to hear that your wife has a nice house. But if you think of paying the mortgage as paying rent to your wife it doesn't sound like a great marriage. It's certainly not the sort of marriage I'd want.

I agree that many foreigners marry women with no credit, but that's up to them. I don't really care what others do.

Edited September 24, 2015 by ldnguy

[ldnguy]

But farangs in particular seem to overpay for property here. Locals seem to understand the pricing much better.

Yes, they certainly do. It's called Thai price and falang price. I suspect any Thai who sold property to a falang at the Thai price would be scorned by his/her peers as a poor business person.

The other factor is whether the property is new or old. Thais won't buy an old house, at the very least it has to be fully renovated. The price goes way down for an old property; however, falangs think they are getting a good deal at double the market.

I live in a condo where the falang price for a studio apartment ranges from 1.5 to 2 million baht. No Thai would pay more than 1 million.

Lots of Thais buy older houses and they live in them without renovating. It's a myth that Thais don't buy older houses.

I suppose there' nt much you can do about foreigners that overpay. Their choice.

[ldnguy]

But farangs in particular seem to overpay for property here. Locals seem to understand the pricing much better.

Yes, they certainly do. It's called Thai price and falang price. I suspect any Thai who sold property to a falang at the Thai price would be scorned by his/her peers as a poor business person.

The other factor is whether the property is new or old. Thais won't buy an old house, at the very least it has to be fully renovated. The price goes way down for an old property; however, falangs think they are getting a good deal at double the market.

I live in a condo where the falang price for a studio apartment ranges from 1.5 to 2 million baht. No Thai would pay more than 1 million.

I do not know where you are ,but over the years my wife has sold to Thai and Falang , there are only two times when priced are higher and this goes for anybody , when the seller is an idiot and wants far to much and if the condo is in a foreign name , and then it is often a little higher , 99% of the foreigners she sells to are well clued up and will only pay the going price , anyone who pays 1.5 to 2 million for a condo worth 1 million is an idiot ,unfortunatly there are very very few of those buying lol or she would be laughing

I agree. If this was the case I'd get my gf to buy for 1 million and sell for 1.5 million. She could buy one every day. But it's not true.

Bazza40 - if you think it's true, do as I suggest. I'll give you a 10% cut. You should be rich if you know exactly where this is happening. So I suspect you're misinformed or possibly just making it up. If only it was that easy to make 0.5 to 1 million.

[HampiK]

In most placed thai and foreigner pays exactly the same price. 2 exceptions i know is pattaya and sukhumvitarea in bangkok. And this also only because there are too much foreigners want to buy and not enough thais for the 51% shares. So they made up different prices for condos in thai or foreign names. And except for this difference in which name you buy the condo i not know differences. Of course there are some farangs who pays too much, but not because they are farangs, only because they don't know the price and are willing to pay too much.

But in other areas I never heared or saw different prices. I think this are this urban myths who everyone knows and tells to other people. Like i have a friend who have a friend who had.......

I bough already condo offplan and also a used 1-year old condo from a thai (I even saw the Initial contract with the paying sum) and i am 100% sure i not overpaid because i am a farang.

But of course there are always people who think they are smarter than others and like to complain about everything (Even sometimes they not even have a clue).

[bazza40]

Lots of Thais buy older houses and they live in them without renovating. It's a myth that Thais don't buy older houses.

I suppose there' nt much you can do about foreigners that overpay. Their choice.

It depends on which socio-economic section you are referring to. Thais don't buy older houses by choice, but because they can't afford new ones.

Having seen a number of houses and condos under construction, I'm not surprised they'd prefer new. Some of them are put together with toad shit and sealing wax, designed to fall apart in about 15 years.

Excuse me for being cynical. However, I see a number of claims on Thai Visa that so-and-so is profiting very well from the Thai stock market, or dealing in real estate, etc.etc. Short of seeing audited financial statements from these gentlemen, there is no way of knowing whether what they say is true, or if they are just bullshit artists.

But hey, what do I know? I'm just a stupid falang who keeps his money in his pocket and rents.

[bazza40]

Lots of Thais buy older houses and they live in them without renovating. It's a myth that Thais don't buy older houses.

I suppose there' nt much you can do about foreigners that overpay. Their choice.

It depends on which socio-economic section you are referring to. Thais don't buy older houses by choice, but because they can't afford new ones.

Having seen a number of houses and condos under construction, I'm not surprised they'd prefer new. Some of them are put together with toad shit and sealing wax, designed to fall apart in about 15 years.

Excuse me for being cynical. However, I see a number of claims on Thai Visa that so-and-so is profiting very well from the Thai stock market, or dealing in real estate, etc.etc. Short of seeing audited financial statements from these gentlemen, there is no way of knowing whether what they say is true, or if they are just bullshit artists.

But hey, what do I know? I'm just a stupid falang who keeps his money in his pocket and rents.

[bazza40]

Lots of Thais buy older houses and they live in them without renovating. It's a myth that Thais don't buy older houses.

I suppose there' nt much you can do about foreigners that overpay. Their choice.

It depends on which socio-economic section you are referring to. Thais don't buy older houses by choice, but because they can't afford new ones.

Sure, there are 200K - 400K apartments available in Thai neighborhoods if you want to live in a box.

Having seen a number of houses and condos under construction, I'm not surprised they'd prefer new. Some of them are put together with toad shit and sealing wax, designed to fall apart in about 15 years.

Excuse me for being cynical. However, I see a number of claims on Thai Visa that so-and-so is profiting very well from the Thai stock market, or dealing in real estate, etc.etc. Short of seeing audited financial statements from these gentlemen, there is no way of knowing whether what they say is true, or if they are just bullshit artists.

But hey, what do I know? I'm just a stupid falang who keeps his money in his pocket and rents.

[huawei]

Lots of Thais buy older houses and they live in them without renovating. It's a myth that Thais don't buy older houses.

I suppose there' nt much you can do about foreigners that overpay. Their choice.

It depends on which socio-economic section you are referring to. Thais don't buy older houses by choice, but because they can't afford new ones.

Having seen a number of houses and condos under construction, I'm not surprised they'd prefer new. Some of them are put together with toad shit and sealing wax, designed to fall apart in about 15 years.

Excuse me for being cynical. However, I see a number of claims on Thai Visa that so-and-so is profiting very well from the Thai stock market, or dealing in real estate, etc.etc. Short of seeing audited financial statements from these gentlemen, there is no way of knowing whether what they say is true, or if they are just bullshit artists.

But hey, what do I know? I'm just a stupid falang who keeps his money in his pocket and rents.

Nothing to do with social - economic group, if a house/asset is priced at what's is perceived to be a good deal/ bargain..then someone will be buy it. Be it a 3 million baht house in a moo ban or a 90 million baht house in Thonglor..it's the price that matters..

[trogers]

Lots of Thais buy older houses and they live in them without renovating. It's a myth that Thais don't buy older houses.

I suppose there' nt much you can do about foreigners that overpay. Their choice.

It depends on which socio-economic section you are referring to. Thais don't buy older houses by choice, but because they can't afford new ones.

Having seen a number of houses and condos under construction, I'm not surprised they'd prefer new. Some of them are put together with toad shit and sealing wax, designed to fall apart in about 15 years.

Excuse me for being cynical. However, I see a number of claims on Thai Visa that so-and-so is profiting very well from the Thai stock market, or dealing in real estate, etc.etc. Short of seeing audited financial statements from these gentlemen, there is no way of knowing whether what they say is true, or if they are just bullshit artists.

But hey, what do I know? I'm just a stupid falang who keeps his money in his pocket and rents.

Nothing to do with social - economic group, if a house/asset is priced at what's is perceived to be a good deal/ bargain..then someone will be buy it. Be it a 3 million baht house in a moo ban or a 90 million baht house in Thonglor..it's the price that matters..

Not really true that only the price matters.

Most Thais buy on a mortgage with perhaps less than 10% forking out all cash.

I believe Thais buy into new projects because they can get a mortgage close to 100% of the price of the condo or house.

They would be lucky to get any bank to give a mortgage over 60% of the assessed market value for an old property. So they need to save up for a substantial down payment, and many can't.

Edited September 24, 2015 by trogers

[huawei]

Anybody with any real sense would rent in these current conditions. I am a purchaser of condos for the long haul. I waited 12 years to buy my first properties here which came about because of the favourable exchange rate after the Asian crisis (and the significant divergence with uk property in prime areas). Bargains. I got impatience and bought another when the property frenzy took hold around 2007 not in a Top area and outside Bangkok, mistake. Don't expect to make much on it..I am close to buying again when sterling hits 58, the baht gets to 40..second hand condos in areas I know and buildings I know, with high Thai occupancy.

[ldnguy]

Lots of Thais buy older houses and they live in them without renovating. It's a myth that Thais don't buy older houses.

I suppose there' nt much you can do about foreigners that overpay. Their choice.

It depends on which socio-economic section you are referring to. Thais don't buy older houses by choice, but because they can't afford new ones.

Having seen a number of houses and condos under construction, I'm not surprised they'd prefer new. Some of them are put together with toad shit and sealing wax, designed to fall apart in about 15 years.

Excuse me for being cynical. However, I see a number of claims on Thai Visa that so-and-so is profiting very well from the Thai stock market, or dealing in real estate, etc.etc. Short of seeing audited financial statements from these gentlemen, there is no way of knowing whether what they say is true, or if they are just bullshit artists.

But hey, what do I know? I'm just a stupid falang who keeps his money in his pocket and rents.

Well, there aren't many people in the whole world that can afford to buy a new house every time they move. There must be about 30 million houses in Thailand. They can't just be abandoned or knocked down every time someone wants to move. Do you think someone's going to by a 15 million house then if they need to over in a few year jut abandon it (because of the claim no-one will but because it's old) and then just fork out another 15 million for the next house. The people on here that think Thais do that are completely bonkers. Thai people do not abandoned old houses at all. They buy and sell them just like we do in the West. And yes, they do sell if priced correctly.

The is quite a market, especially among younger Thais, to buy and renovate townhouses. Not because they can't afford new, but because they like the townhouses and want to retain some of the better older buildings. It's the same in most of the world. I've seen plenty of people buying older houses because of the location not because they can't afford new. In central Bangkok, for example, there isn't much space to build new houses.

Edited September 25, 2015 by ldnguy

[ldnguy]

Anybody with any real sense would rent in these current conditions. I am a purchaser of condos for the long haul. I waited 12 years to buy my first properties here which came about because of the favourable exchange rate after the Asian crisis (and the significant divergence with uk property in prime areas). Bargains. I got impatience and bought another when the property frenzy took hold around 2007 not in a Top area and outside Bangkok, mistake. Don't expect to make much on it..I am close to buying again when sterling hits 58, the baht gets to 40..second hand condos in areas I know and buildings I know, with high Thai occupancy.

Not sue what you mean by "these current conditions", but exchange rate is good right now and there are some properties I've seen that are available at good prices. Like you I think I'll jump in if GBP gets to anywhere near 60. It was 46 when I first came to Thailand, so a 15 million house now costs £273K instead of £326K. So that's down £53K. Seems like quite a bargain to me. Of course, prices could go a little low, but wit the GBP so strong I think the risk is very limited. In any case, it would be a home not an investment so wouldn't really matter if prices dropped.

Edited September 25, 2015 by ldnguy

[MaeJoMTB]

Well, there aren't many people in the whole world that can afford to buy a new house every time they move. There must be about 30 million houses in Thailand. They can't just be abandoned or knocked down every time someone wants to move. Do you think someone's going to by a 15 million house then if they need to over in a few year jut abandon it (because of the claim no-one will but because it's old) and then just fork out another 15 million for the next house. The people on here that think Thais do that are completely bonkers. Thai people do not abandoned old houses at all. They buy and sell them just like we do in the West. And yes, they do sell if priced correctly.

Most of the Thais I know, have a house worth 500k, sitting on a bit of land worth 1M (tops).

It costs the same as a new car to build a new house on the old land.

15M ...... you gotta be joking.

Edited September 25, 2015 by MaeJoMTB

[Rocketsurgeon]

Yes, remts will never go up here. Buildings are deteriorating and even in prime locations there is simply no shortage of new units coming online.

Then, you have the economics of it all. THB is set to fall, not rise for forseeable future, at least against the USD and British Pound Sterling. Next you have the economy at best teetering, consumer debt, business loans denominated in intl currencies. Thailand cannot raise rates. Additionally, EM capital outflows are massive. This bet is done. Next, you have China which will continue to both devalue and have its own domestic isdues that will weigh heavily on neighboring EMs. Next, Vietnam, which will begin taking market directly from Thailand.

Finally, there is simply the devaluation of money. If you double money supply, the money is worth half.

[huawei]

Anybody with any real sense would rent in these current conditions. I am a purchaser of condos for the long haul. I waited 12 years to buy my first properties here which came about because of the favourable exchange rate after the Asian crisis (and the significant divergence with uk property in prime areas). Bargains. I got impatience and bought another when the property frenzy took hold around 2007 not in a Top area and outside Bangkok, mistake. Don't expect to make much on it..I am close to buying again when sterling hits 58, the baht gets to 40..second hand condos in areas I know and buildings I know, with high Thai occupancy.

Not sue what you mean by "these current conditions", but exchange rate is good right now and there are some properties I've seen that are available at good prices. Like you I think I'll jump in if GBP gets to anywhere near 60. It was 46 when I first came to Thailand, so a 15 million house now costs £273K instead of £326K. So that's down £53K. Seems like quite a bargain to me. Of course, prices could go a little low, but wit the GBP so strong I think the risk is very limited. In any case, it would be a home not an investment so wouldn't really matter if prices dropped.

Go for it, if it something you really want, as long as it's not a high proportion of your total wealth.

Current conditions - rentals very cheap harder to justify buying, plus there is so much crap going on in this country at the moment.

If you really want go for it, underbid, don't be afraid to walk away..everything in your favour..Thai property can be one of the most illiquid assets out there and as said on other threads the company route may leave you open to some risk I for one would never use it, but each to his own.

Of course you already know all the short comings of buying a landed property.

Just know all the facts and make an intelligent guess.

60 doubtful but if things carry one the same, interest rates rise early next year who knows. In my eyes 60 is a " gift" that won't last too long.

Good luck, if it goes " tits" up later. You can write about it on here and get loads of sympathy !

Is it a Villa?