Never Buy A Condo in THAILAND!

[@user-gt6vc7sf4h]

I’m retired in Bangkok Thailand , and I have to agree with everything he said. Everything was on point.

[@LawrenceStevens01]

I’m a 30+ year investment advisor who has been coming to Thailand for 20 years. General rule is to ONLY consider purchase if the ANNUAL rent of a comparable unit x 15 is lower than the purchase price. For example, if your monthly rent is $1,000, only consider purchase if the purchase price is less than $180,000 ( $1,000 rent x 12 = $12,000 annual rent. $12,000 x 15 is $180,000. ) Only consider purchase if the sales price is LESS THAN $180,000. Rarely makes sense to purchase in Chiang Mai where I spend my time. Problems with shoddy construction, maintenance, and resale only make the problem worse. Plus possible future tax and ownership rules make decision making more complicated. Another issue is transferring any potential sale proceeds out of the country problematic.

[@RamzeTravels]

Great advice!

[@lancemided3251]

Resale is the biggest impediment along with maintenance fees. I don’t understand the comment about the difficulty in transferring the proceeds of a sale. If you have a bank account that in good standing, transfers in or out are routine.

[@alexandertraveler510]

there is no market in chiangmai. there is only 2 REAL markets in thailand. bangkok and phuket. re sale is a problem because there are too many units in your area. 99% condos in thailand WONT meet your x15 criteria and you can save your time looking. lol

[@lancemided3251]

@@alexandertraveler510 those two may be the only real markets by your definition, but any place that has both supply and demand is in fact a market.

[@LawrenceStevens01]

@@lancemided3251 Banks require you to show that the initial purchase funds were transferred into your account before allowing you to transfer it out of Thailand. Called capital flight controls.

[@ellocodos]

I'm retired in Pattaya. Excellent advice. ANOTHER warning, If you buy you may be stuck with bad neighbors. Maybe they just come from Bangkok on occasion and play loud music or throw trash in the hallways. OR even worse, owners rent on AIRBNB, Noisy, in and out at all hours throw cigarette butts anywhere. If you rent you can move. Rent is cheap. I rent, 72 sqm. Pratumnak, full sea view. The EDGE, wow. Bad choice, noisy bars in every direction!

[@RamzeTravels]

It was indeed a bad decision. It was a quick education though.

[@ellocodos]

1 more thing, Elevators can get overwhelmed on weekends from the Bangkok crowds and high season from AIRBNB rentals.

[@jefftam18]

Hi how much is the rent you paid ?

[@prestonphelps1649]

Yes. Agreed. One cannot control their outside environment in Thailand...... be it bad neighbours, bars, construction...... ect.....

[@manflynil9751]

I'm a retired businessman. Ive been visiting Thailand since 1998. My advice is to buy nothing and make no investments in Thailand. Rent only, and donate or gift to people, if you feel so inclined. Thailand is for Thais. We're just guests.

[@Jon-qp9ew]

I agree totally

[@antonionotbanderas9775]

I want to start an Isan Salsa Club, but as a gift for Thais, once it's self-sustainable, move to the next city.

[@kerryobrien71]

An investment is an investment. Thai people/all people can buy all types of property and invest (and already do at high rates and they own the land) in most english speaking countries (eg US, UK, Aust, NZ, Canada, much of Europe). Why shouldnt people be able to buy/own property in Asia? If its a bad investment dont do it, but it shouldnt be because you dont have thai blood/citizenship.

[@freeagent.87]

​@kerryobrien71 think about it, if people from rich countries buy up the majority of land then the cost of living for the Thais will go up

[@xJ9pQw2sR5]

@@kerryobrien71u need to learn something Thailand is not a place for equality, they will always F u over and there’s nothing you can do about it.

[@Mlong21376]

Great minds think alike once again, I’m almost 65 why would I risk dumping my money into a condo when I can rent cheaply ? I see no upside…… great content

[@RamzeTravels]

Thank you

[@RamzeTravels]

I actually don’t think this new visa is going to have the large impact many think it will. Just a hunch.

[@jamesbarr2357]

@@gregfraser8784 The question to ask is what will happen to Chinese demand as the full impact of the RE collapse in China reveals Itself.

[@gregfraser8784]

@@jamesbarr2357 surprisingly a Chinese wife values her man by how much he earns. This is in the culture. If conditions are diffficult on China, millions upon millions of them will try for greener pastures, many of them would choose Thailand if they can not get to the west or are nearing retirement.

[@bannertraveller5879]

the only upside to OWNING is you can make any upgrades or changes in the unit that you want . I guess you could with a rental but at the discretion of the landlord

[@Badhans2007]

Dramatic title. Let's see where this is going... This is the real deal right here, all the info they wouldn't tell you upfront. Thanks for being frank and honest.

[@RamzeTravels]

Thank you 🙏

[@kellywalker4494]

Exactly. Who is going to tell you this info? Everyone has a vested interest in getting you to buy so they won’t tell you any of this stuff. In fact they’ll lie to you and tell you the opposite.

[@FitandFabinvestor]

@@kellywalker4494 I just saw a KZbinr review CocaCobana on Jomtien. Was cold shower with almost no water pressure. So I guess on my checklist now is test the shower 😂🙈

[@mag67uk]

This is one of the best youtube videos I have ever seen. Clear, concise and informative. Anyone considering purchasing property in Thailand needs to watch this. This guy is really good and knows his stuff.

[@RamzeTravels]

Thank you so much for the kind words!

[@OsianLedger]

Oops another clown 🤦

[@Molloy1951]

First, I felt I had fallen for a clickbait. But then I watched it, and everything you said was true. Genuinely useful video! Thank you

[@RamzeTravels]

Thank you so much for your kind words! I really appreciate your support and I'm thrilled you found the video useful!

[@MrSuperohhlala]

He makes some very good points here. I bought an older condo that is mostly Thai owned and fully occupied. I bought the unit 7 years ago from a Thai woman that needed money quickly...it's 70 sqm corner unit with two bedrooms and two bathrooms, large balcony, very quiet, came with an assigned covered parking stall, large pool, only a few minutes from a BTS station and 20 minutes to Asok - i paid only 1.2M baht. I then spent another 700K baht fixing it up and it's now a baller pad on the inside. I love seeing the reaction on chicas faces when they enter the pad from its modest outside appearance.The maint. fee is a joke at only 2K baht a month...easy peasy. I am an American and retired early because I invested wisely in stocks and crypto and Thailand is my home now. I have a son that's half Thai, so my situation is a bit different from others. I also own a nice beach house in Rayong that I bought during COVID times for a steal. I got both properties for only about 7% of my net worth. i am confident I can sell them both for at least what I had paid out for them, but I have no intentions to sell as I am still in my early 50s and enjoy being able to jump in my car and bounce between BKK and my beach house whenever I feel the urge - life is good. When I finally take the dirt nap my son will be nicely setup. I consider it a win win.

[@ZAM_-_ZAM]

Bravo et Viva BTC 😉.

[@ThuyPham-lr5dc]

Chicas? Lol

[@engdatum]

thai wife owns your beach house...........................farangs cant own land in thaland

[@rossshying1939]

Yep but so much easier I f you have a thai daughter or son .Land can be good too.

[@KaiRollman]

This Channel is has soul! honest and speaks from the heart. You got moxie kid!!

[@RamzeTravels]

Dang I haven’t heard moxie in a while! 😁 Thank you 🙏

[@t.q.6639]

Thank you for your candid review and opinion of the condo market in Thailand. It’s refreshing to hear a different viewpoint than just the sales pitch videos of Pattaya.

[@RamzeTravels]

My pleasure

[@billyjohnson9166]

A lot of good points. One thing I learned rent in the building you like first. Secondly you will hear any good deals, sometimes before it's listed.

[@RamzeTravels]

Well said!

[@mangostickyrice555]

Thumbs up 👍 Ramze….We purchased our condo in Surin Beach Phuket and has been a fantastic decision for my wife and I. We’re not concerned about the resale value as we both know this is not an investment tool for capital gains. We fly back and forth from San Francisco twice a year and spend about a total of 8 months here. It’s incredibly convenient to have a place that we decorated to our preferences and fully equipped with everything we need the moment we arrive, it’s truly our home away from home 😎

[@RamzeTravels]

That is the perfect use case to fit in the exception I spoke of. Awesome!

[@foosaypoh6328]

Great insight bro! We bought our 5 stars luxury condo near Terminal 21 Bangkok as an investment six years ago. We are not so concerned about the resale value or capital gains in the future. The condo has been fully paid from day one. My main intent of buying the condo is to generate rental income for traveling around to explore any part of Thailand and not for retirement there. The unit has been tenanted by expats for more than 6yrs even during COVID periods. Flying takes about 2 hours back and forth a few times a year from my country. To date, i think we make a wise decision without any worries or regrets.

[@markgarretson689]

Holy mother of good lord. I thought I was the only one experiencing these issues but you brought it up and made me realize that it’s not just me. I am staying in Thailand for the past 2 years and I had in my mind to buy my own place. For these reasons, I didn’t. And I have concluded that SE Asia is not the right place for me. Was never into Thai girls either. This year I have applied for retirement visa for Spain. At least there’s some fairness there despite terrible bureaucracy. I just want to die in my own home.

[@JaneWalker]

Is it cheap to live in Spain?

[@markgarretson689]

@@JaneWalker my cheap is anything between €3000-3500 per month. But I will buy a home there so that amount will surely come down because I won’t be paying rent

[@kellywalker4494]

I agree with all of this. I’d especially like to emphasise the point on condo maintenance fees that can be insanely expensive if you buy a bigger unit and I mean insane. The point about fees for renovations is also correct. The salaries for the workers are peanuts but if you ask am English speaking company to quote for renovations they will quote insane prices. I was quoted 6 million baht for a basic renovation which is almost half the value that it cost to buy the condo, way more than it would cost me in UK for the same job.

[@brianphuket5951]

In Phuket, the community fees are higher than they are in USA. The Condo fees [in an upscale project] are stupid expensive also like 70 baht a sqm = $2 per sqm or @.20 per sqft. do the numbers. in a ddition to that most condo's will hit you an additional 3 baht markup over the base electric gov't rate of 3.7 baht per unit./kw. That said, if you plan long term, have a Thai wife or 'safe partner'. Buy a house! if you're in the more resort/western traveler's area and its loading up with foreigners, you rent will continue to go up. Just as I paid off my mortgage of 15K baht a month in Phuket, the "russian invasion" started along with just more people seeking refuge from their crazy western life. the rents have DOUBLED. Imagine that? it is truly difficult finding a rental in a 'nice' area under 35-50K baht per month. Unless you opt for locations farther away from beaches and good shopping. They can be found, of course. but it becomes more difficult as one progresses to high season.

[@aloneinbangkok8534]

6 million for how many square meters? I have a 35 square meter condo, and I renovated the entire thing -- new floor (SPC), paint, built in furniture, kitchen, new appliances including built in oven and built in refrigerator, bathroom as well. Everything all included was around 950-1million baht. my Thai friend who has a ~100sqm condo renovated the whole thing for around 4 million baht. 6 million would be a very large renovation project and certainly is not the standard renovation I think.

[@lancemided3251]

I have a Thai partner so finding help to fix the house, maintaining the garden and heavy maintenance is much much easier. No farang tax or communication problems.

[@RamzeTravels]

Lucky Man!

[@2226robin]

How many farang have a good Thai partners liked you ? You are in a special case that don’t count, how many people win a lottery ?

[@lancemided3251]

@@2226robin you might be surprised how many farang have a wonderful Thai partner. The ones with good partners don’t talk about it very much. The farang with bad partners talk about it nonstop!! That’s why the bad stereotype of farang - Thai relationships exists.

[@tca2024]

I've been living in Thailand nearly 15 years and you are the first person to not sugar coat or lie about the reality of real estate in Thailand. It's amazing!! I am an American, I own a 3 bed/3 bath house in central Thailand. Hit me up if you would like to learn more. Great video!

[@RamzeTravels]

Thank you for the kind words

[@joypu5137]

I am gonna living in Bankok, checked few condos last month but hesitate to buy, as one friend there told me his condo price didn't increase after 5 years he bought...may I know how is your house?

[@RamzeTravels]

My house is great but I rent. I have no desire to purchase a home when I don't legally own it outright. Also, I have not fully decided where in Thailand I will end up or even if I will be here long term. Not many advantages to buying here honestly. Some cases it makes sense when people are 100% sure they will live out their days here and want to customize it. Very few other reasons. Even the guys who are happy with their rents could have probably done better in the market long term.

[@joypu5137]

@@RamzeTravels Got it, thanks!

[@engdatum]

foreigner cant own land in thailand..............farangs always seem to forget to say this ,,,,,,,,,your thai wife owns the land ,,,or you are renting the land from a thai national

[@jiffers5191]

I bought a condo around 10 years ago when I started to spend more time in Thailand. I seem to have been lucky with my choice of developer as they still manage the building and maintain it to a good standard. The maintenance fees are fixed for the duration of the purchase contract which is freehold for 30 years. I had assumed this was the normal arrangement in Thailand but it seems not to be the case as more generally charges are based on the actual expenditure.

[@patriciaflaherty]

Very good points here. There is comfort in knowing you own your house, but it's complicated in other countries, especially if you're not fluent in the language, when it comes to repairs and maintenance. With rent being so inexpensive in Thailand (as compared to the USA anyway), i like the idea of any problems being handled by the landlord. If something major goes wrong or the neighborhood takes a turn for the worse, having the ability to just pack your belongings and leave also provides a nice sense of security.

[@alblack9869]

Unfortunately, many landlords will refuse to do ANYTHING if something goes wrong! But you can just move out and get another apartment! This is one of the MAIN REASONS why everybody like a brand new condo - chances are everything will work, for a few years anyway....

[@bigwaidave4865]

I have been living in central Bangkok for the past 7 years and have rented the entire time for every reason you mentioned👍

[@RamzeTravels]

Thanks for sharing!

[@alexandertraveler510]

how much is your rent?

[@alblack9869]

@@alexandertraveler510 In Bangkok city center - between 12,000 baht per month and 15,000 baht per month is what you can pay to rent a one bedroom 35...42 sq m unit in August 2024

[@alexandertraveler510]

Show me a unit/ condo. Most decent size 42sqm are going for 20-25k . For example onnut. I mean unless you wanna live like a local. Nice condos are going for 30-50 for 1-2 bed . For a camper Knightsbridge. If you mean 30 year old condos yeh you can get it for 12k

[@alblack9869]

@@alexandertraveler510 Not true! Brand new condos can be had at these prices. Do your own research. "Side Trips Life" is a KZbinr who has a number of videos about Thailand and Bangkok in particular. You can rent a brand new condo on the outskirts of Bangkok for 4,5000 baht per month, by the way.... I've been living in Thailand for the last 8 years and I never paid more than 12,000 baht per month for a goof 1 bed condo.

[@veneziablau]

Excellent topic. Some similar issues around Lisbon Portugal except the "new" buildings are most often gutted old buildings as you can't just knock them down. The original classic exterior walls must stay up. Nightmare electrical and plumbing issues are often the result.

[@RamzeTravels]

That was Cuba for me 😖

[@The_Love_Doctor_Sean]

Plus crazy politics and internal issues like change in laws and policies utilize to incentives foreigners to invest and then are cancelled and vioded due to up roar of locals. They have misplace anger with foreigners versus their own fellow citizens which decide to increase prices in order to overcharge foreigners. They often blame foreigners when it is the local sellers of properties and etc overcharging. foreigners are not relocating to places to be overcharge and etc. LOL

[@aloneinbangkok8534]

watching this from my hi rise condo I bought last year. bought it, renovated it entirely custom as I want, and love it.

[@RamzeTravels]

I love hearing success stories! It’s not all doom and gloom ✌️

[@thehammer3340]

Where is your condo located?

[@didierdenice7456]

You nailed it ! Same in the Philippines... and even worse... because the building quality is subpar to Thailand, and prices are higher ! Some 5 real estate developpers control all the condo market in the whole country. They make sure to never discount any unit. Maintenance is poor, fees are high. Anyway the best option is just to rent. 👍.

[@geraldarrington9620]

Agreed!! I once owned a condo in the Philippines, what a nightmare. Just rent people your only a guest here. Most buildings are only half full, especially since the POGOS are kicked out!

[@MiHy1]

Something else to consider: in some countries (such as Australia) eligibility to receive a state pension is means tested. The value of all your assets except your primary residence is calculated to determine your eligibility. If you have (say) $500k in bank deposits or other financial instruments you will receive reduced or nil pension. If you use that money to buy a property in Thailand as your primary residence, it won’t be considered an asset and you will receive the higher proportion (or full) pension, subject to evaluation of other assets (car/bike), and you won’t have to pay rent from those savings.

[@kohchangtai7820]

Very good points, I agree and would never buy a condo for many of the same reasons + this big one: you can’t control your neighbors. At least in a rental you can move if things get uncomfortable.

[@RamzeTravels]

Very valid point

[@TITPodcastPattaya]

I bought a Condo in Pattaya as an Investment 7 years ago and I specialized only in short-term rentals ( min 30 days and above ) and I concentrated only on the high-end Market - Boutique Style living, it is a 1 bedroom - 52 sqm size condo and in a very Central Location. My rental income is around ~8 - 8.5% NOI. I have been booked for the Year 2023 - 348 days and in the year 2024 I am booked for the whole 366 days and I am currently booked until 1. June 2025. Now, I need to mention that I a professional Property Investor and retired 7 years ago. It can work if you do know what to look for. P.s. All your points are Valid and correct. Thanks Ramze

[@UF250]

I bought a 2 family house in Queens NYC in 2017 for 590k and I live there rent free since then and the house is worth 1.5 M now and of course I paid cash so it will probably take your entire life to catch up to my 7 years growth in US.

[@TITPodcastPattaya]

@UF250 🤣 Funny guy. You should have read and understood my whole statement. I am a retired Property Investor ( not in Thailand ) and I also have multiple properties that 4 x by now and each of them are above 1 M USD. Do you want to measure or compare anything else ? 🤔

[@brianphuket5951]

@@UF250 >Timing is everything. It's happened in Phuket also. perhaps now is not the perfect time to buy a condo. also, if the market goes down while under construction, unless it's a publicly traded corporation building it and it doesn't get completed, the buyer will end up holding the bag on an unfinished project that may never get finished. A major reason why the successful projects end up selling for far more when it is nearly sold out and completed. It's kind of a crap shoot. sometimes you win...sometimes you don't.

[@alblack9869]

@@TITPodcastPattaya You are full of shiite

[@murk2002]

Finally, a title on KZbin that content has substance to match the title

[@Goldfinger555]

Good stuff. You validated so many points I have heard before. Bottom line for me would be to invest only what you could just walk away from if you had to.

[@lancemided3251]

That is the golden rule for expats. Don’t buy ANYTHING you can’t afford to walk away from.

[@RamzeTravels]

Exactly!

[@regnorse]

sounds dopey..who the f walks away from 60k +

[@Bribriblibliblu]

I agree 100% with you. Recently I was discussing this with a friend and I gave him most of the same reasons you speak about in the video. Plus legal uncertainty and instability with the regulations, tax, politics,...

[@edc-dave4073]

Enjoyed the video Ramze. Don’t agree with purchasing a condo in Thailand for ANY reason. To many horror stories and don’t think I’ve heard one positive story. Guess I look at it based on risk and reward. Too much risk for the potential reward. I think the money would be better utilized in an investment fund. My 2 cents and like you say I’m just a dumb guy writing unsolicited comments on KZbin. Keep bringing the thought provoking content.

[@RamzeTravels]

Haha, no worries, man! Your thoughts make sense. There’s definitely a lot to think about before diving into condo life in Thailand! Keep watching and sharing your thoughts!

[@maicolc7216]

In the usa, we are indoctrinated that buying a home is "the American Dream", and that renting is failure and throwing away money. I think an economical rental is ideal, even moreso in a foreign country.

[@jimcraiggeezer]

I bought a condo 7 years ago and have never regretted it.

[@RamzeTravels]

Great to hear ✌️

[@lancemided3251]

Bottom line: for most expats the key to condos and houses is NOT investment it’s usage. Ownership provides a hedge against rental price inflation. It’s different in different cities. Hua Hin is getting much more expensive over the last two years because of the influx of people leaving Phuket and Samui where rent is double or more compared to Hua Hin. Those people are willing to pay more than existing renters in HH causing rents and home prices to increase. Supply still outweighs demand so that is the only factor keeping the housing market prices from going totally out of control. So for long term residents in Hua Hin, the choices are slightly different than Bangkok, Chiang Mai and Pattaya currently.

[@jamesbarr2357]

Prices in HH are stupid and Air BnB is a plague in many condo buildings. The resale market for HH condos is razor thin.

[@lancemided3251]

@@jamesbarr2357 the housing market in HH is more stable than condos. There is inflation due to Phuket and Samui transplants to HH combined with Chinese investors. It’s not a good investment market in any way. That’s why I commented previously about the concept of value of usage being the operative mindset for foreigners.

[@jamesbarr2357]

@@lancemided3251 I agree with you.

[@CreamPuffthePom]

Usage---that's the term that determines our HuaHin home purchase. Def cannot think of it as an investment or else I'll likely be disappointed

[@lancemided3251]

@@CreamPuffthePom imagine, you would be paying 25k baht per month (300 k per year) to rent the same home you could purchase for 3.5 million baht. If you live in that house for 15 years you save 4.5 million baht plus whatever the rental price increases are over the 15 year period (probably an additional 500 k baht conservatively). So instead of paying rent to someone else, put that rent money back into the bank where you took the original purchase money from and your money will be back in your bank in less than 12 years. It’s cost effective, practical and negates the need to think about the property as an investment vehicle. Bottom line, you have to pay rent so you might as well pay it to yourself!!

[@jbennison5672]

Excellent video. Straight to the point. Informative and no bullshit.

[@RamzeTravels]

Thank you

[@TheBodyShop-247]

Great Information. I've always wondered if it was worth buying vs. renting. You made things much clearer.

[@georgepato6008]

I Bought 2 condos as investments been great so far. My occupation rate is 80% and I focused on boutique style condos less hassle and easy to manage . I suppose every experience is different but mine has been positive so far.

[@RamzeTravels]

Good stuff!

[@coscorrodrift]

do you mean 80% occ rate in your building, or 80% occ rate in your personal investment?

[@asmith20707]

Super useful info. Got my answer as to whether to buy or not. Answer begins with an N.

[@terryb4547]

Having a condo you'd probably let a Thai girl move in 😢😢😢 trying to get her out, is nearly impossible, 😮😮😮 at least in a hotel you can move room whilst she's having her hair done 😂😂😂😂

[@carlobaldassarre76]

Nah easy Let her catch with another girl in bed with you She'll go 555

[@paulchilvers5032]

One of the biggest issues here in Thailand is lack of capital gains in comparison with the West. I know of a desirable condo bought in 2004 that sold for 15% less in 2024. Combination of over supply and low demand for 'second hand' property. Over the same period a property in the UK or Australia would probably have gained around 350% ( Aust avg 6.4% pa over the last 30 years). A 2M bht condo plus management fees and maintenance costs is probably costing close to 13,500bht per month if you can find an 8% invetment return for your cash.

[@RamzeTravels]

Very well said and thought out. This and other details is what a lot of people don’t consider. They only think of rent saved and not loss of investment earnings.

[@Hunter-go4bv]

I appreciate your honesty. These are facts, unlike other KZbin videos that overhyped Thailand. When they know you are an outsider, whether Western or Eastern, you will likely be overcharged.

[@trevor5526]

You're 100% correct with all these points. Plus I rented a condo in Chiang mai for a year when I first arrived here with a lovely mountain view, until a student apartment block was built 5 meters away. No more privacy. No more mountain view. So my wife and I took a risk and bought a house within one acre of land in a rural area. After 15 years what I would have been paying out in rent has now equaled the purchase cost and fortunately we have good neighbours. So we live here rent-free, plus my wife has no worries about having a roof over her head when I'm gone.

[@RamzeTravels]

Smart and you took your time. That’s how you do it. Glad for your success.

[@trevor5526]

@@RamzeTravels 👍👍

[@kennethboehnen271]

I bought a 80 sq meter 3 bedroom 2 bath condo in Samui for 2.2M thb. I put new AC units in, paint, appliances, decor, and decided to upgrade the kitchen even though not needed. So, all in about 3-3.1m the for new condo next to Fisherman's Village. It rents for 40-45,000 thb. Available now if anyone is interested. I haven't had difficulty finding good renters. It's probably because I make the place quite nice.

[@alblack9869]

Yeah, sure... That's why you are looking for tenants here!

[@frankf3248]

Would definitely rather rent at my age, just dont need the hassle or worry.Easy to rent then move on to somewhere else for a change of scenery.

[@RamzeTravels]

Valid points

[@mattlawrence7130]

The main reason I would buy a place is so I can furnish it the way I want to. Beds over here are often harder than my carpeted floor (upstairs) back home. The TVs are normally inexpensive and I want a large high end 4K TV that costs thousands of dollars to hook up to my computer. I would rather have a good recliner instead of a cheap couch. I want a decent work table and office chair, which there is rarely any room for with the standard furnishings. I want more storage space than the typical condo has.

[@RamzeTravels]

Valid reasons.

[@USA2Brazil]

Why not rent an unfinished place until your sure? As another person commented often the best condo / house deals are often word of mouth from people in the building / neighborhood your already renting in. Personally I'd wait a year minimum before buying any real estate abroad. Also have you considered another country where you can buy some land and have a house built to your specifications.

[@mattlawrence7130]

@@USA2Brazil Unfinished? Those are difficult to find in Pattaya. The norm is to be furnished.

[@user-ej6cj8rb3s]

I totally agree. I hated every time I left Thailand everything I purchased I had to give away. Only to have bought it again when I returned.. I love redoing my place to my likings 😊

[@regnorse]

@@user-ej6cj8rb3s no storage centers THere?

[@terryb4547]

Everyone gets old if your lucky, things change, health, relationships ?? been locked into to a foreign country can quickly turn into a nightmare the uk as its problems but at the end of every holiday which have been many im ready for home to plan my next trip to paradise 🎉 and surprisingly alot of new Thai faces as well,

[@jackh1749]

Thanks man.. I am currently renting a condo and happy to stay doing that. Especially after watching this!! Learned a lot.. Yikes!!

[@terryb4547]

I've 25yrs holidaying in Thailand, spoke to many expats over the yrs 80% of the honest ones said given their time again said I'd not buy and retire here again I'd just holiday come and go !! Now I'm 72, still holiday there but have slowed down ? But my golden rule I've always tried to stick to is, I go there to please me ,not the Thais, then I leave, 😂 😂

[@Lindsaybkk]

Bought at Auction Bank repo 2004 with a little help of course. (72m2 ฿2.2m) 200k was unpaid rates. (Rates ฿3.3k month) Almost finished complete renovation (industrial style) after 20 years (Building built 1992) A condo in building same size currently selling ฿6.5m. Many rich Thais put money into condos to avoid tax, they don’t care if left empty. I know 1 friend who has 20.

[@derekbrown7892]

I bought my condo (in foreign name ) in View Talay in Jomtien 9 years ago ,just under two million Baht,its fairly old now but the walls and ceilings are thick and well made as the new ones the walls a stud walls and noise comes in from the next door and noise from upstairs ceiling people banging about,My condo very well built no problems and the maintenance per year is about 9000 Baht a year ,if I had rented over the last nine years I would have almost paid in rent what I paid for my great condo and still own my condo and would be easy to sell as in foreign name (massive swimming pool) I have absolutely no regrets getting my super condo plus owning helps visa ,bank accounts etc.I would never buy a new one!

[@RamzeTravels]

I think that’s where the smart money is, the oldest ones are better built and usually bigger!

[@Regularguylive]

There are none for rent at View Talay...

[@derekbrown7892]

that’s because View Talay particularly View Talay 2 are so popular For rent and sale.

[@user-ej6cj8rb3s]

I totally agree. I bought money 5 years ago and more than half paid for. Like you said..low maintenance fees and it's mine😊

[@derekbrown7892]

@@kippsguitar6539 I have people ask me all time is my condo for sale as it is foreign owned and I could almost get my money back and so have lived 9 years in super condo free ,I certainly would not buy a new condo the building quality is poor

[@jeremywatley849]

Very good stuff. I am 35 years old and I love Thailand so much. I hope one day I can make this place my home. I have been weighting the cost of renting vs buying a condo.

[@RamzeTravels]

Best of luck!

[@user-ej6cj8rb3s]

Find the right area for you and buy used freehold. In 10 years it will be paid for

[@chris20041958]

If you are going to stay in Thailand long term you have to live somewhere. Buying is MUCH cheaper than renting for 20 years

[@RamzeTravels]

This is a very true statement. Unfortunately, I suspect that’s one percent of people who attempt to live here, even if they don’t know it yet.

[@zeusconquers]

If Thailand is expanding construction projects and many homes remain unrented and sold what makes you think you can sell a properly maintained aged property in ten years for more than you paid for purchase , and maintenance? With rents so cheap and liabilities non existing on rented properties it is a better risk/reward to rent than purchase. You can always pick up and move after contract. You can't do that after purchase unless you find a bigger fool.

[@Goorney]

Good video. The reasons you have given - Increasing service charges, poorly constructed , difficult to sell, bad neighbors. I think renting is a much better option.

[@user-gg6rm5vm6b]

Thank you , you are the only business person that I finally found that not only ,awesome true sense but trustworthy

[@roberth7894]

It's obvious that you're well experienced and have a good bead on the market, yes you're right- for most renting would be the better choice given the lack of returns and the bias against older buildings. One other reason to buy is if one married a Thai lady and had a stable relationship and wanted to set her up for after you're gone (live there with her and then it goes to her when you kick). Otherwise invest the money for better returns.

[@RamzeTravels]

Thank you for adding to the conversation!

[@hamburger--fries]

I purchased a condo in 2004. Still own it and It's still maintained. The penthouse or entire top floor of a 4-story building. I have remodeled 3 times. Chiang Mai.

[@RamzeTravels]

Very cool. Glad it worked out for you ✌️

[@edward88881]

I subscribed to the channel after watching this video. Incredibly valuable, unbiased, no holds barred content clearly explained.

[@RamzeTravels]

Thank you 🙏

[@AndrewpeterkilleyAndrewKilley]

Great video and good honest advice. The only thing is, i know a lady who sells condos and she says most buyers are just laundering their money.

[@RamzeTravels]

Wow🧐

[@jedi21f]

Wouldn't it be better to rent? The costs of rentals seems fairly affordable and you can be mobile. I understand some people won't prefer that lifestyle, but It may work for most.

[@RamzeTravels]

Most rent

[@MikeRP3147]

But long term that might work against you with regards to renting over buying. In ten years what will rent be? In twenty years? Not saying renting is wrong... Just worried about the long term prices for rent

[@sagepirotess6312]

​@@MikeRP3147as an expat, you wont stay in same place 10 years.

[@jedi21f]

@@sagepirotess6312 agreed!

[@jedi21f]

@MikeRP3147 your thinking is that of a westerner. Not saying there is anything wrong with that logic. Go where your money makes the most sense for you.

[@NealeClimpson-v6t]

I own my condo in pattaya, i have all my clothes and everything i need for my holiday hung up and ready when i arrive so i only travel with a small back pack. Its so convenient for me and its my own home so dont need to worry about tenancy ending etc. Ive never rented in my life but i do agree why renting can be safer

[@RamzeTravels]

Great fringe place

[@jimcrosby8289]

Your brief was so informative and helpful. I really had no idea how buying or rental was so different it was in Thailand. Thank you for putting this topic online. 😊

[@jonasjohnsson4429]

In some of the tourist areas the thais and others have noticed it is easy to get money from the farangs, therefor the high prices. Outside those areas, where there are mostly thais living, the prices are more modest for the farangs.

[@MrSafetyForever]

Grateful you allocated the time to create such an informative video!

[@bobx1034]

have to say that i have lived in Thailand-- in Pattaya (so pleased to see him pronounce it correctly), Bkk, Lampang, Kalasin, and now years in Chiang Mai, and this guy is one of the first who has shared accurate and candid advice.

[@RamzeTravels]

Thank you 🙏

[@Dragonfly-wg6rg]

Bought my 67sqm mid 90s condo in Ekkamai ten years ago during a coup for equivalent of 52k gbp. I did it up and now the market rate is around 120k. Solid buy. Wd say always buy mid 90s but now everyone has seen the potential and prices are rising for these.

[@coscorrodrift]

"during a coup" LOL i mean

[@Dragonfly-wg6rg]

@@coscorrodrift yup literally during a coup. I watched the baht drop like a stone, had the money in a holding account and put it thru at 56 baht to the £

[@RJ-yn3nu]

You make some good points and it is really going to depend on many personal factors. I bought 25 years ago in Bangkok. Its a residence condo, so no casual or holiday units. Very quiet, larger than the current trends, good location and low fees. It would rent well if i chose, but it really owes me nothing by now, vs renting or hotels. As for repairs, as long as you have a thai to help, they are very cheap. My advice is to buy in an older and more established building, this will avoid many issues you mentioned.

[@RamzeTravels]

Great tips! Thank you for sharing.

[@dimplypaprika7693]

Great points! I am considering buying a condo in Thailand now. I will certainly keep these points in mind before i pull the trigger. Maybe renting is the way to go when i retire. Thank you!

[@RamzeTravels]

Best of luck to you my friend

[@2226robin]

Good choice, smart choice, wise choice. Two year in Bangkok, then two years in Phuket, then two years in Chaing Mai, then two years in Pattaya, then repeat the circle.

[@teckin139]

I paid 1.4M for my condo in Pattaya that I lived in for 4 years. I pretty much paid for it in what I would have paid for rent. It doesn't have many amenities so maintenance fees are low. All these newer places in Jomtien that have these amazing ammonites are just too expensive and thank goodness the occupancy is low because otherwise nobody would even be able to use them. But from my experience in Thailand I like to leave my condo and go outside. If I want a good gym I will go to a real gym. If I want a sauna I will step outside. If I want a beach view I will drive my scooter to the beach. lol. People waste money on stupid things. I love my condo, its long since paid for and I have a place to stay each time I go back until which time I retire there next year.

[@RamzeTravels]

Great use case and the right price!

[@user-ej6cj8rb3s]

I totally agree. Bought mine 5 years ago and more half paid for..US I'll be lucky in 40 years I have it pays. Paying 5000 a month not including upgrades and property tax. Who wouldn't consider buying here unless they just don't have time money 😅😅

[@coscorrodrift]

"if i want a sauna i will step outside" 😂

[@711Arigna]

Yes never but rent only.

[@Hanamichi6666]

you were spot on but the most important point imho is the construction quality. Let's say all the drawbacks you mentioned didn't exist but I can understand why Thais want new condo/house. It's because there's is a good chance the building will fall apart. Btw like and subscribed, not easy from me but you totally deserved it

[@RamzeTravels]

Thank you 🙏

[@AKGarg124]

Excellent video. An eye opener. We were planning to move to Thailand buy a condo and live there. After watching your talk its a no no. We will prefer to rent an apartment instead of buying it. You mentioned about good rental returns on commercial properties in other countries. Can you please do a video on that topic. Lot of people may use your experience. Thanks.

[@stephenslack5092]

Rent pay as you go simple

[@kulturalvibezteam7859]

Thank you for this wonderful information. It’s real talk! I live here and i can tell. Temporary is the way to go. Everything is transaction for foreigners in Thailand. Welcome.!

[@RamzeTravels]

Absolutely!!

[@user-jm3go1lf8o]

I have bought mine,if you do the maths it really doesn’t make financial sense,but I wanted my own piece of Thailand,and wanted to know that I cannot be moved on,or face rent increases 🥳🥳🥳🥳🥳🥳🥳🥳

[@RamzeTravels]

That’s a good reason.

[@wesgraham2262]

Buying property as a foreigner is ALWAYS risky. Paying more than Thais is bad enough, but increasing HOA fees you have no control over is the other issue.

[@RamzeTravels]

Very true

[@alexandertraveler510]

thats why you have to buy a low end condo.

[@davidsmiottawa]

As a westerner I’ve been conditioned by 20+ years of upwards real estate prices to think buying property is a great idea. During this time (except 2008) I’ve always been able to sell quickly at a profit. The concept of depreciation in property is unheard of. I live in Canada. Building is so slow here we don’t keep up with immigration so prices are either stable or go up! It’s with this background people go and buy in Thailand (Central America etc). Add to that in Thailand that xpats cant own land so their wife’s and gfs just take it and you have a disaster. Do more videos in the gap we all know is there -- but ignore! Cheers

[@rosshitchen-ij6en]

If you're living in Thailand full-time, it's okay to buy your own place. Most of my friends own condos in Pattaya and Bangkok, and they're not complaining. It all depends on your financial situation. Renting is a pain in the ass for many people. If you're fairly wealthy, then possibly buy a place and invest the rest in a U.S. stock index fund. Everyone's situation is different, so it's difficult to advise everyone from your own perspective. Condo maintenance fees are nothing compared to Australia, where I'm from. Sometimes it's also good to put your money into something you can't get rid of quickly. Many people who rent never end up owning anything their entire lives and simply piss their money away, ending up with nothing.

[@jaybrox1652]

Depends what you are saving for? But you can't take it with you so piss it away is one way to get rid of cash.😂😂😂😂😂😂

[@SanjayMehta-ct4yw]

More about renting vs buying please.

[@VictorHenderson]

Great video. Eye opening for sure for some.

[@magamike1800]

I bought two in Pattaya off plan. Took 5 years to build and they were completed one month before I left. I might buy one completed when I move back full time. They are crazy cheap.

[@lecannet]

How cheaps crazy cheap?

[@magamike1800]

@@lecannet About a million THB or 30K USD.

[@castortroy365]

Thank you for this. I've been tossing up about buying a condo, mainly for the reasons mentioned at the end of the video. There were always a few niggling thoughts swirling around at the back of my mind & I think you've brought a few to the surface. I'll just rent now and assess the situation when I have boots on the ground.

[@215618680]

Great eye-opening vid. thx 🙏 Brah.

[@marcusbww]

A lot of people saying the low season now doesn’t change much, I think Pattaya is more affected than some areas. If you have a Thai spouse they can help getting good renovation costs. On the whole I think not buying is good advice, unless you 100% know you’ll be there years and don’t want to move. I would also add there is much more to Thailand than Pattaya, personal choice I guess. This video seems a bit more Pattaya specific.

[@tivoaussie]

Another interesting video. Some points well worth considering. I'm glad I found the channel.

[@thewing331]

After living here in Jomtien in one of these fancy new buildings the one thing that turned me off immediately was the quality of the material used in construction. Just because it looks fancy and is modern doesn't mean it's a quality build.

[@TonyFossey889]

Couldn't agree more with you on how they present their Condos. It's like when you go on these booking sites, the photos look great, just like it was when it was brand new, but when you get there, it's run down, things falling apart, and that's just the building, then you get into the condo itself, it's terrible, everything is old stained broken etc etc etc ..... I would much prefer to Buy my own now, I have had enough of renting condos now, I want it done my way....

[@geerth5014]

Very informative video which gave answers to all my questions on this matter! Great job sir! 👌🙏

[@paulhefner2813]

i may be wrong, but i think it is 49 percent of the area of the units. I bought one in bangkok. i did it because it was a real 30 percent below other units in the area and the dollar was at almost 1 to 37. I feel it is safe with those provisions. it will take 5 years for no special taxes. I may lose but It is a gamble like everything but it is close to the bts. i have turned down two renters because I felt uncomfortable. making money is different than buying one to live in. best to rent first. i agree. thanks for the video. do not comment on specific condos because that could be against the law in thailand. have a great day.

[@RamzeTravels]

Thank you

[@abouttime5000]

Condo living is very risky. If the building is in need of major repairs all of the tenants have to contribute. That can be extremely expensive.

[@alangraham8926]

Level headed and seasoned advice. I only rent here cannot see the point of ownership given my age etc but can see it working IF it's a steal and you have not bet the farm on it. Another consideration will always be changes in visa, residency and tax laws although always mooted have been pretty consistent for years.

[@drdellaman]

I have rented in Bangkok for seven years. If I were to buy one, I would have to pay cash, which would adversely affect my investment accounts. Add to that, monthly dues, special assessments, and the fact that I will never get my money back. Way too many new, empty units. Thirty to fifty percent occupancy in these buildings is normal. Rent, be happy, leave whenever you want.

[@RamzeTravels]

I agree

[@HotelEuropaBasak]

I lived 10 years in the Philippines , were i still own a condo,, and i attest that everything you say is true, especially about the labor costs .I still have a plan to spend a little time in Thailand in the future during winters, but if you see the rental prices ( due to the occupancy rate that you mentionned), i will now rent.( thing that i never did during all my life, i m a owner mindset person, i always owned my properties) LABOR is overpriced nowaday and i no more want to be obliged to do all of this by myselve.ALSO, when you own properties, somehow, this is not an asset that you can move with you everywhere when you are no more happy with the way the place goes, it takes time to sell, it s more and more taxed and a real subject of worries.The fact is, that rent prices are SO low in south easr Asia, that it now makes sense to rent and SAVE money.

[@saultrejo6563]

Well thought out reasons from someone who is familiar with the topic 👍 (too many KZbinrs trying to give advice on topics they’re not well versed in).

[@RamzeTravels]

Thank you 🙏

[@barrydwyer2039]

Buy a bit of land on a 30 year lease and buy a thai teak house and plant it there for the 30 years, it would probably be far cheaper than renting for that period of time, IMO.

[@RamzeTravels]

That could be someone’s dream!

[@sagepirotess6312]

Cant speak for Thailand, but I own a condo, jeju korea, rent it out to airlines. Own a condo Taipei, re t it out to an English academy, who let's teachers live there. I myself built a house in Vietnam. One thing you do leave out is location.... only can have so much good location to build. As for appartment, check who building it, thai, China, Russia. If Korean it will be higher quality and last, but more expensive.

[@GaengphedMoo]

Thais can buy cheaper, but they only get the lower levels of the condo. Was informed by a seller a month ago.

[@FrozenSkyy]

Great video. Would be great to get your thoughts on buying a villa in Phuket (for living) vs. buying a condo.

[@RamzeTravels]

It really comes down to the last point I made about if you can easily afford it, never plan to sell it, have been there long enough to know the area and BE SURE, then maybe.

[@JettGunther]

Great video! Looking forward to your update on the property you bought.

[@gregweigel8115]

Wow, thank you. That was some of the best commentary on rental units in Thailand. I entertained the idea of purchasing a condo in Thailand. I did not know that about Thai ownership versus foreigner ownership and the price difference. It's like buying a brand new car in the U S driving off a lot and you're 20% in the hole.

[@RamzeTravels]

Exactly!

[@mattivirta]

im has traveller and live long term in Thailand 30 year and last 14 year retiree, and this is True no buy condo, waste only money too small room. i buy only house in Thailand. lot better live and no newer problem can buy or sell.