Never Buy A Condo in THAILAND!

[@ณัฐณิชา-ฐ7ร]

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.

[@Bobafe77a]

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.

[@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 🤦

[@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.....

[@LeifHaraldsson-f1t]

Why are you speaking so fast? Is this channel only for people grown up in a English speaking country?

[@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!

[@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

[@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.

[@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

[@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

[@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 🙏

[@dimplypaprika7693]

@@RamzeTravels you probably haven't been called 'kid' in a while too! LOL!

[@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,...

[@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 🙏

[@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!

[@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

[@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....

[@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.

[@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 😂🙈

[@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🧐

[@jimcraiggeezer]

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

[@RamzeTravels]

Great to hear ✌️

[@ubiquitousdiabolus]

I bought at about the same time and agree. It depends on the building, the neighborhood and the company that sells and maintains it.

[@juiceqc7716]

100 %. Great content fella.

[@RamzeTravels]

Thank you 🙏

[@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.

[@bownstudio8183]

You made some really valid points. This helps people to consider the broader picture. Thumbs up bro. Followed.

[@RamzeTravels]

Thank you 🙏 I just want people to know all sides and then decide what’s best for them.

[@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

[@FAMDxb]

Just came across your channel- and this is the first time I’ve heard real, boots on the ground, primary and pragmatic Information. Everyone else claims it’s a good idea to buy a condo, without once mentioning all the nuances mentioned here. Thank you- great info:

[@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!

[@mauroschiff]

I am Swiss and I am in Huahin, I did some calculations and indeed the prices are overvalued, no doubt about it, well done for the video

[@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 +

[@gerrardrooney7980]

Fair and honest content keep on doing what you are doing

[@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

[@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!!

[@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?

[@franksykora5118]

@@RamzeTravels it is doom and gloom, just not yet. Not enough maintenance fees being paid and if there is they will go up and there will always be special assessments.

[@chunfeichang1994]

Hey mate. Agree with you 100%. We bought a beach front condo at VT7 Jomtien, love it, use it 4 months a year. We don’t reset it out. An ocean front, same view, similar size on high level at Gold Coast would cost 3 times more. Poor ROI, but good life, just a backpack with laptop, off we go. Also use it as a base, do side trips to other countries.

[@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 👍👍

[@Serena_9]

You are the best husband ever! You care for your wife so much.

[@jackh1749]

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

[@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.

[@franksykora5118]

@@lancemided3251 hm, things will go wrong one day and then what?

[@lancemided3251]

@@franksykora5118 you are a pessimist and I am an optimist. I don’t believe things will go wrong (and in three years they haven’t) but if they do, I will assess the situation and move forward with a new plan. If we avoided every circumstance in life that had some downside risk, we would never experience anything. So why live in fear?

[@JettGunther]

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

[@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.

[@Real_Rizz]

Great Video! i'm about to get a bit of money i was thinking of buying a sub 1 million bhat condo near pattaya. no mortage. good move or wait a little?

[@k.williams4925]

Thx for the knowledge and honesty. I have an LTR visa so here for the next 10 years.

[@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.

[@tivoaussie]

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

[@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

[@SVarma-z7z]

Which area in Spain are you buying?

[@edward88881]

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

[@RamzeTravels]

Thank you 🙏

[@TheBodyShop-247]

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

[@Peonia-Melbourne]

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

[@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 😉.

[@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.

[@franksykora5118]

wow, you really know what your doing. How did you buy a beach house and a thail owned condo? Did you get Thai citizenship?

[@Paolo1964]

Great video. I appreciate you sharing your knowledge.

[@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.

[@moa3810]

I never heard this about Thailand from other YT channels. - an eye openner.

[@MrMediterrano]

Another reason not to buy is the risk of property laws changing. The surplus of condos might lead to lawmakers changing the law to allow foreigners to purchase the apartments at the same prices as locals. This would mean a huge loss for foreigners who have bought at higher prices.

[@RamzeTravels]

Or if they ever let them buy homes, apartment prices would implode.

[@MrMediterrano]

@@RamzeTravels but very unlikely that would ever happen given the surplus on the market. And also the development companies and the whole construction sector and all the supporting sectors would go on barricades against any measure aimed at curbing down new development.

[@engdatum]

current rules are 51% thai / 49% farangs for a condo complex.............theres talk of the thai government allowing 75% farang ownership,,,,,,,,this would cause a price drop of all condos both existing andnew, as you would have have all these thai owners desperate to unload there apartment onto us dumb farangs

[@jbennison5672]

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

[@RamzeTravels]

Thank you

[@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.

[@WhoCares..808]

Good to know the real pitfalls! Thanks 🙏

[@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.

[@cryptosecuritytools]

I really got a lot from this video. Thank you. Ive been here for almost 3 years now and I know I will buy a condo at some point soon. I do fall into the 1% you discussed.

[@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.

[@karl4683]

Thais think like this aswell, to an even larger extent. Problem is there is zero afterthought. An American can atleast see the investment in terms of numbers. A Thai will genuinly think if they borrow the full amount and buy a condo or a house they own it and everything is automatically great.

[@EddieManning]

Hey Ramze, Just saw your film. At first I thought "more of same" as this topic has been covered multiple times. After listening to the whole film, I think this is the most helpful on this subject for those who are not aware of potential pitfalls or benefits. I beleive there are differences in intention of use and location that determine the benefit of renting vs buying. For example, living in full time vs part time vs investment for renting. Also location, for example a city such as Bangkok or or tourist areas such as Pattaya or Phuket. Not all areas will have the issue with "Foreign Ownership Quota". In my 99 unit building, I am one of just 3 foreign owners. I bought my 2 bed condo in Bangkok over 15 years ago and consider it a major success for my changing personal situations, both then and now. I fall in one of the exception categories that you describe at the end of the film. If I had rented it the whole time, I would have paid the same in rent by now that I paid for purchase (OK there's a cost of capital and Common area fee). All the while, I've had the security and comfort of my own place to use, decorate and visit as I wish. No threat of rent increases or eviction. Peace of mind has a value. I'm in Bangkok, close to the BTS and only 4 stations away from BTS Siam, so very convenient too. Also, I can get to either of Bangkok's airports in 30-40 minutes or drive to the beach in less than 2 hours. Suits me but likely few others on here. I can either sell in the future, rent it out or leave to my son. No intention of ever renting it or selling though.

[@RamzeTravels]

Love hearing success story!

[@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.

[@franksykora5118]

Don't forget the new tax laws coming.

[@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.

[@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

[@MrSafetyForever]

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

[@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,

[@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. 😊

[@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

[@jeeefthegreat7555]

lol 8% is extremely NOT worth it whatsoever

[@thewinkler6647]

This has just backed up mine and my Thai wife's thoughts after we looked at 3 units in Hua Hin this last week. My intention was to buy to let, but after being given the figures for maintenance costs and commision, it did not equate to a good return for my investment. And true the furniture was worse then MFI as we say in the UK. Thanks for this presentation.

[@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!

[@BarakTheWonderer]

Another, welcome, truthful video. Much appreciated!

[@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!!

[@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!

[@SanjayMehta-ct4yw]

More about renting vs buying please.

[@777lisalopez]

This is really good value! Appreciate this video ☺️

[@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.

[@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 🙏

[@leef5682]

Lived in Bangkok 10 years. Build quality of condos is very poor. They keep knocking them up and so many are empty. After a couple of years they look shit. Workmen bodge job everything. Lose money when you resell. Everything you saying 100% correct.

[@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.

[@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, 😂 😂

[@melbinmyongk]

That is what I concluded also in 2024. Thailand is a good place to holiday but not for retire given systematic disadvantages designed against farang.

[@teocpa5451]

Great video.....very informative...thank you😀

[@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

[@HaroldJackson]

You answered a lot of questions i have been asking the other channels 😮. Just as i thought 😊. What about buying a used truck? How much and can i use my us drivers license?

[@RamzeTravels]

You can buy a used truck. I don't know prices at all but you can find a ton of them on FB marketplace to get an idea. You will need a residency certificate to purchase any vehicle.

[@davidramsy3048]

I bought a condo in Thailand 19 years ago and live in it. If l rented it it would have cost more over 19 years to rent. Maintenance is only 8500 baht a year. So live very cheap and tax is less then 500 baht a year. So it paid for it self.but if you plan to live only for 10 years or less then rent.the condo is in Pattaya pratamnak soi. But only buy if in forienger name. That way your name is on the chanote.

[@user-rj7cu8gq9m]

You’re right about they shoddy work on these condos. I almost always see cracks in the walls where I stay-which are the nicer projects

[@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 🙏

[@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.

[@BasedInBrazil]

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]

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

[@GeneId-t7m]

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]

@@GeneId-t7m no storage centers THere?

[@superheroperso]

Agree 100% with what you said. I purchased here because i'm now living full time here and I never considered it as investment. However having living in many countries in my life, I found the construction cost ridiculous and the proximity to all suppliers around bangkok is amazing. You don't have this in europe or other asian countries. I purchased everything not at homepro but directly to the factories, I managed to find the right people for the renovation, and everything went so smooth. You see, you maybe have more issues than the West (nationality, ratio, ownership etc..) but there is no real estate tax, and maintenance is peanuts. I think if you focus on the benefits, it's not that bad at the end. Thailand is ranked n1 most visited country in the world; should not forget about that.

[@paulsmith2552]

I just don't trust Thailand. Own property in your own country where you understand the market and the rules. I would only ever lease in Thailand

[@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.

[@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.

[@mauriciolee7349]

Thank Ramze for this HONEST & INFORMATIVE video.

[@RamzeTravels]

My pleasure

[@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!

[@HolaBrazil]

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.

[@GeneId-t7m]

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

[@iCitizenTube]

Excellent video Sir! Quick sharp straight to the info. Masterclass of good Y video production🏆 Been in Asia for 9 years and I could not agree more with you about condo. Looking for property investment opp at the moment. Which country would you recommend? Thx!

[@RamzeTravels]

At this point I don’t have any clear recommendations. You really need to live and understand a location to invest in it. I did well in Colombia but those prices have since gone up.

[@RamzeTravels]

At this point I don’t have any clear recommendations. You really need to live and understand a location to invest in it. I did well in Colombia but those prices have since gone up.

[@practice4089]

30% occupancy. I heard other youtubers give that figure, but I have not been able to confirm it with government or industry sources. Where did you get it from? Even if just renting, I would still like to know that number for any building I was considering

[@RamzeTravels]

You can actually tour a lot of buildings and see the sheer amount of empty units.

[@TITPodcastPattaya]

Check the buildings at Night and see how many lights are on. Cheers

[@Iamironman76]

I m living in Bangkok 20+ years. Nice to hear an honest and fairly accurate description of the condo market here. Listen to this guy.

[@sainssaint]

As a thai resident i ll give you the trick: when visiting chose 6pm+, then go for the parking lot and you ll see the amont of empty units (most thai own at least one vehicle)

[@afdsvicosa]

​@sainssaint That's a good tip, but I would do that at 10 pm+ as most Thais like to be out in the evening since it's damn hot in the daytime. 😅 In my condo, most people are back home after 10 pm, and the parking lot is filled with cars and motorbikes at that time.

[@davidwilliams7552]

Who wants to live in a condo anyway what a nightmare.

[@somekindaguy100]

How bout older people who don't want to do the yard or have access to a elevator ,pool,gym ect and close to beach with beach views.Thats why

[@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 ✌️

[@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.

[@John-Ph]

Good one! Excellent and timely alert! Thanks brother

[@RamzeTravels]

My pleasure

[@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!

[@GeneId-t7m]

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" 😂

[@realgains1538]

EXCELLENT!

[@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!

[@GeneId-t7m]

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

[@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.