Property prices in Thailand
Finding affordable housing in Thailand is number one priority for newcomers. Tell us more about the estate market in your district/city/region.
What are the most desired places to live? What are the most affordable ones? What is the average cost of a rented flat? And what is the average sale price for an appartment or a house? Could you tell us more about local real estate policies/procedures? What about property tax or residency tax in Thailand?
What about you? Where do you live now? Is it a place you would recommend?
Thank you in advance for your clarifications.
Priscilla
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I dont advise ye to buy property unless ye 'ave the citizenship, cuz once ye buy it if for any reaso聽 u wanna sell it it will become really difficult for ye, many friends of mine r in dat situation, rentting is easier and very affordable.
Yearly non-resident visas (and a proposed one for even longer) make it relatively easy for any retirees to come to live in Thailand.
I've been retired here for just over two years.
For many, who have in mind that they want an investment, which they'd consider passing on to relatives afer their time is done, the answer is to聽 聽 buy property here.
To others, who don't have the lump sum to put down, and /or don't have relatives interested in the potential incumberence, the answer is to rent. Yes, this is something we'd never consider doing while we were earning money to pay off a mortgage...it would be like throwing money down the drain. However, in the retired situation,聽 it just keeps things simple, in case life takes an unexpected turn.
Yes,...I'm in the latter category.
I rent a property on the island of Koh Samui, which is quite a commercialised tourist location, with a very large number of English -speaking property agents, landlords, and lawyers.
If you're renting for the first time, I firstly recommend you trawl through (e.g. Google) the property agent websites, to get an idea of what kind of property you want, and to set a budget. Make the "key words" in your search include "long term", or you'll be hot with loads of (exhorbitantly expensive) holiday lets.
Follow up with exhaustive enquiries and research about location. Some agents will say things like "just minutes from the sea", and mean that it's a 20-minute walk to a stretch of sharp coral coastline.
Secondly (and not in order of priority) ask yourself WHY you decided on your chosen location. If it's not essential to wake up and walk out of your property straight on the beach, consider this....Value for money is more often found two blocks behind the beach, and still less than 7 minutes walk away.
If you chose the location because you visited it on a previous holiday /vacation, spend a couple of weeks there again, maybe in a hotel, and walk around the area. Check for signs of nearby land cleared for construction, or ongoing construction...in holiday destinations, noise can be a major consideration.
Thailand has a VERY wet....wet season. Survey the local area to make sure you're not in a river flood plain. If you're surveying in the dry season, look for depressions in the ground and /or long (head-high) grass, and boggy ground.
Check on side-streets near your chosen location...there may just be signs outside properties saying that they are for rent, and these could be cheaper than those offered by a property agent.
If you want to enquire about a property (other than through a property agent) , and you're nervous that the language barrier will be a stumbling block, you'll need to befriend an English-speaking Thai. If you don't know someone, go to your favourite restaurant or bar, and you'll normally find someone willing, even if it's for a gift of a few hundred baht.
If you don't ask...you don't get.
Specially if you're renting for the first time in Thailand, I think it's a MUST to arrange a Rental Agreement (Lease) through an accredited lawyer. There are unscrupulous Western landlords, so don't think you're OK to bypass this, just because the landlord speaks your language. In holiday haunts like Koh Samui, there's no shortage of English-speaking lawyers (again, Google search. I won't advertise, but a quality one is located at The Green, Bangrak, Samui). It cost me a few thousand baht to get an Agreement lined up in English and Thai, but, for me, it was money well spent....peace of mind.
What to look for in the Rental Agreement?
1. Landlord's Thai ID number or passport number, evidenced by them presenting the original document to the lawyer. Keep a photocopy or scanned image.
2. Documentary proof of landlord's address. If Thai, this can be the address associated with their ID. If this is not near your rented property, you might need further reassurance about this being their normal place of residence, or business location.
3. Landlord's phone number and /or email address. Phone the number (see who answers).
4. Specific agreement about who pays for electricity and water, and the rate at which it is charged. If it is the "municipal rate" you'll need to check what it is. Your lawyer should know the avenues to check. Check if any other utilities (e.g. trash collection)聽 or maintenance charges apply.
5.Specific agreement about repayment of any deposit, and the amounts and day of the month on which payment of tent is due. If you travel a lot, INSIST on the bank account details of the landlord, or their appointed agents (the latter must be named in the Agreement).
6. Agreement about whose responsibility it is to install and maintain an internet connection, TV cable connection, etc
7. Agreement that the landlord will be responsible for maintaining supply and correct working of water, sewerage, electricity, and the prompt clearance and prevention of flood.
Well...that took a lot more time than I thought it would...but I hope it's helpful!
I won't guarantee a hassle-free rental, but I might have closed off a few dead ends.
I have a motor bike and the house is about 15 minutes from the center of town. Driving is very dangerous, but I must be a good driver. As they say in the driver's manual - be a defensive driver. Living a little outside of the city gives me the opportunity to have cleaner air, cooler air, fresh foliage or flowers, and to enjoy some of the little creatures in the neighborhood. I even have a papaya tree in the back of the house.
Rents in Chiang Mai can range anywhere from around $100 - 1,000 US per month. A $100 a month place would be similar to a Motel 6 room. Many expats here live in the inner city to avoid driving. Either case it's interesting living here. One point is that the further you go out the better your Thai language skills should be.
Ownership in Thailand is tricky. Non nationals are not allowed to own more than 49% of the property (land). A Thai national always has to have at least 51% ownership. I have heard of establishing a corporation to own property. But that could become involved and costly. I have also heard MANY stories of Thai women basically stealing the money or the land of a Forrang (foreigner).聽
Chiang Mai has a few aspects of it that are appealing. There is a bar scene here but it's no where as extensive as the other hot spots. There is a expat community of about 30,000 people here. That's not too small and it's not too large either. The atmosphere is pleasant and friendly. Since Chiang Mai is a tourist destination with a significant expat population you don't need to use Thai language while doing whatever. There are five western style shopping centers and all sorts of Thai shopping places all over. Chiang Mai, as I understand it, this is the IT capital of Thailand. That in itself creates a high standard of living and availability to more advanced things, that may not be available to more rural areas.
Then there's the food. The food here is so fresh that they don't have time to put preservative in them. If you ever get tired of Thai food there is just about any kind of food that you can imagine. The cost runs from $1 - $150 US for something to eat.
聽 聽 聽 I found that realtors did not serve my needs outside of BKK and I found my house by word of mouth.聽 Too, realtors' web sites list only what is already sold or even rented because there is no honored system here, called in USA "multiple listing board" where whoever takes in a client, gets some money even if another realtor does the actual deal聽 聽Not so in competitive Thailand.
聽 聽 聽 Definitely rent, get rental contract, take dated photos before you move in, get a serviced maid/cleaner/cook/nanny, and look at the SkyTrain plans.聽 Good luck !
At Phuket from almost 20 years, I decided some years ago to build and sell houses and bungalows. I consider than it is more easier and comfortable for foreigners and Thai to live in their own houses. Phuket remains one of the best destination because of its wonderful environment and because of the high standard of life and high level of its infrastructure.
***
Kind Regards
Philip
Reason : No free ads here please + register in the business directory
I would like to visit Pattaya at some point. Also, if you'd like to come to Chiang Mai I too could extent my hospitality. I have a modest house with an extra room, outside of the city. If nothing else I could help you with learning about Chiang Mai. As much as I enjoy meeting people I'm finding some people I don't want to meet for the second time. Like the guy who told me that he worked for the CIA and was on a mission. I started looking for the butterfly nets that were trying to catch this guy.
Bill Kip
Bill
post a pm to me and I'll get back to you. I don't know how to do it on my end.
Bill
bill kip wrote:california4me;
post a pm to me and I'll get back to you. I don't know how to do it on my end.
Bill
Just click on the person's name and you will see an option to "send a message".
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