Phuket Real Estate Explained (Cost of Living in Thailand)
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- Опубліковано 4 чер 2024
- Should you rent or buy a Condo or villa in Phuket, Thailand? I'll show you prices of 1 x Condos and 2 x Houses and you can decide. You will see what $2,000 a month gets you or what $1M gets you, and you'll know more about the Cost of Living in Thailand.
Real estate in Phuket has changed and units are getting snapped up quickly. If you are interested in any of the places shown in this video, then reach out and get it before they are off the market. If you dream of living in Phuket Thailand's awesome island then this video is for you.
If you are looking to buy or rent in Phuket, Chiang Mai, Bangkok, or Samui, then RW4U Real Estate is here for you. Contact us here: connect@retiredworkingforyou.com
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If you are looking to buy or rent in Phuket, Chiang Mai, Bangkok, or Samui, then RW4U Real Estate is here for you. Contact us here: connect@retiredworkingforyou.com
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You are single handedly ass fucking all the locals out of affordable housing.
My ultimate dream is to live in Thailand. Travelled there 8 times in the last 13 years. I absolutely love it. 🇹🇭
Hey Chris,
I'm a big fan of you and the channel. I'm not trying to be a Debbie Downer here, but please do an honest episode on the real situation of a foreigner buying property in Thailand. No other real estate sales company would do that. In fact they intentionally keep you in the dark and feed you roses and sunshine, but I can't see you doing that. Referring to the villas you showed here, there are 2 ways to own them without marrying a Thai (a dangerous 3rd option that has led to many being broke, homeless, and ultimately, to use the new parlance, un-aliving themselves.
1. Leasehold. This is a horrible idea. In theory you get a 90 year lease, but really it's a 30 year lease that the landowner contractually agrees to renew twice. But the landowner is actually under no obligation to honour that and there's a good chance it will be a different owner when the renewal comes up and almost certainly a new owner by the time the second renewal comes up. They can just give you the boot and if you don't like it, go to court. No one has ever done this and won. Cherry on the top is there are land taxes assessed every year and guess who pays them? The landowner? Nope, it's you.
2. Form a Thai company and have the Thai company own the property. You cannot be a majority shareholder, but you can own the voting shares. Technically, it is illegal to form or own a company in Thailand for the sole purpose of owning a property. Despite this, many people much smarter than me have done it and everyone gets away with it because the Thai government turns a blind eye. In fact, it's good for the country, so they do that, but Thai governments are notoriously fickle and change their mind in a heartbeat, plus you don't know who will be in power or when confiscating (technically) illegally owned property by foreigners may become an election platform. That doesn't seem like a worry now but whom amongst us can accurately predict the future 20 years out? On top of this you need to pay company taxes and pay your lawyer and accountant. Not such a big deal on the 3.5 million USD property if you can afford it, but significant on cheaper properties.
I am not a lawyer. This is my opinion based on the research I have done. None of what I said should prevent someone from forming a company and buying a villa (please don't lease unless you are satisfied with the 30 year term and look at the bonus terms as exactly that - bonuses). Just know the risks involved.
I spent four months last winter traveling around Koh Samui and mainly Phuket, looking at properties that I was genuinely interested in and ready to buy. At the end of the day, I determined for my personal level of risk, the only safe way to own was to own a foreign quota condo, but those are few and because of the situation in Russia and the end of Covid, all have skyrocketed to IMO overpriced territory.
There are many lawyers you could interview, including one I spoke to around Boat Lagoon (not Boat Avenue) and it would be great if you could cover those points above in an interview. At the end of the day, everyone will have their own risk tolerance and act accordingly, but you're in a great position to inform so they can make an informed decision.
Me, I'm going to wait and see if the government makes it legal for foreigners to own a small plot, as they discussed doing last year but ulitmately shelved because of public opinion (ThaiLAND is for Thais).
Peace and love, brother.
You can own these. They aren’t homes.
@@TheMeefmaster I think what they're trying to say is no, you can't. And they're right. What they have stated above is Thai law regarding property. You own the house but not the land that it's built on, so effectively you own nothing, as the Thai government can decide they want their land back and the house you have in its place, is irrelevant. You can take out a ninety-year lease on it, but again, it's set for thirty years to start and there is no obligation for them to renew it. Then you have issues with inheritance. Thailand and other countries in Asia are reluctant to allow foreigners to own land in their countries, especially politicians, as it's seen as giving away slices of the country to outsiders. Agree with it or disagree, it's their country. So, buying a house there is a no-no unless the government changes the law. Even then, Thailand doesn't have the most stable political system, so you're taking a gamble whatever you do, as laws can change rapidly.
Nice places Chris! The problem is you keep doing these high priced real estate videos that most of us can't afford!
I like how Halie was moving herself in while doing the walk through.
I follow more travel related channels than anyone for yrs. Retired Working For You u have an amazing channel. Pure escapism! 😂
Views and big spaces are all dopamine hits when you see them. Then it's constant maintenance of your mental state, along with CONSTANT maintenance of the facilities. I'd take a tile-floored Bangkok apartment, 5-min walk of the BTS, a decent gym with free weights over 20 kg., 50+ sqm, good water pressure, a good-enough kitchen, street food nearby, a few solid friends, and a faithful, attractive companion over ALL this glitz.
And since you're dealing in real estate, I hope your company is licensed in the Kingdom of Thailand. If not, it's totally illegal.
Yup, and without a company registration and a work permit, that is 100% illegal in Thailand.
I'd take what you mentioned you like...but to each there own.
Looks nice but you can see the flaws pretty easy. I’m not paying $1MM for narrow hallways and poorly laid out bathrooms. They get you with the flash but you soon realize it’s all gild.
For the amounts quoted, I would expect a (much) bigger garden area. Could you focus more on aspects, like house insulation and solar?
Nice vid. I loved looking at the places and what you can...wow...get!! Just got here to BKK and doing the RW4U top 25 things to see in Bangkok. Exhausting but they are getting done.
Big fan of your videos from
the start. BUT TIMESHARES Man everyone knows they are the biggest waste of money, and steeped with risks.
For those of us who wanna live there with our children it would be cool to see a Vlog about the international schools and the cost involved.
Great show Chris! Stay cool kind and generous!
A pleasant surprise bumping into you today Chris, stay safe.
Thanks for the vlog .. very informative
best audio quality from any youtuber on youtube. not too bassy the on vocals.... plus music and dialogue is balanced to perfection.
Look forward to watching this episode later!
Hi Chris, as always great work & vlog, .i have never visited Phuket, but to see what`s going on is interesting ! I know some friends they love it, i am more on exploring and change accomodation with diff. views and etc. but thats me Lol !😂Thanks top Infos indeed👍🙏nice places !🤩
Mentawai is very very famous for surfing and diving area for tourist from everywhere.
Ya ill take the last villa for sure. Amazing places. Great vid.
Great video!
Wow that's a really nice place Chris very nice 🆒👍😎
dude you are an awesome filmmaker!
Great channel. What about the visa regulations, specifically regarding Adam? Could you please make a video about it, or is there one already from you that I just haven't found?
I’ve just come from Phuket with my family looking at realestate. It’s a minefield of agents 4 steps away from the actual owner. Prices are through the roof due to lack of construction during covid and multiple margins on owners price. If you have kids there’s really one place to be which is Bang Tao if you want decent infrastructure around you. Private schools are 30 mins drive from anywhere worth living. We left for the nicer areas in Bangkok. Nice holiday, but not for family set up.
It feels that thailand change from charming to big business. Better to put money on a smaler classic house close the beach. Not Beverly hills... 😢
Definitely!
Nice stuff, it'll be interesting to see what happens to the market if the Russian's leave. So Chris, I saw another vid from a guy that says you're the owner of a luxury boutique hotel in Samui. Is that true and have you featured it on your channel?
Moonstone. It’s more a villa than hotel. He’s shown it several times and others have done videos on it.
@@shaunlaverty8898 that's cool, I must've missed his vids on it, just was curious.
I’ve had a few friends stay there, quite the nice place!
Now I have more knowledge about personal finance. I just subscribed to your channel. Big ups to everyone working effortlessly trying to earn a living while building wealth in this recession. I’m 45 and my husband is 51, we are both retired, no debts. We are planning on relocating to Thailand. We are currently living a frugal and financially savvy lifestyle and generating passive income even during this recessionary period. Our commitment to saving and investing in the financial market has enabled us to maintain this lifestyle and continue earning monthly passively through investment::
Congratulations on your early retirement, Interesting indeed! Currently, I am in dire need of investment advice or tips. Last year, I hesitated and failed to take any action until the year concluded. However, this year, I am determined to try something new, as I am very receptive to various investment ideas. I want to be retired in my forties or fifties.
No problem at all! If you're seeking to earn substantial profits from your investment, I would suggest determining your investment horizon and implementing a long-term plan. I worked with Claire Martha Magalhaes to create a long-term investment strategy, and she assisted us in managing our investments while we focused on my jobs without any concerns.
Thank you for your advice. It's challenging to find a reliable investment advisor here, and I appreciate your input. Seeing the successes you've achieved through investing, I would love to have access to your investment advisor's information if you wouldn't mind sharing it.
I work with *CLAIRE MARTHA MAGALHAES* ,who is based in the United States. If you would like more information about her, you can conduct a search online. She even got featured on CNN recently.
I searched for the name and found her website, where I saw her qualifications and testimonials that looked impressive, with many positive reviews. I reached out to her to discuss my financial goals. Thank you for pointing me in the right direction.
There is over 800 houses over 20 million baht on the market in phuket
Keep up the good work
Great work Adam and Chris! Like to see you expanding your Real Estate network. By the time we're ready to move over, it'll be a nice one stop shop to find reliable folks in the different cities and areas.
Beautiful homes and beautiful locations. When 50% of the world's population can fly non-stop direct to a place like Phuket, it affects prices. If you don't need to be an hour away from an international airport for convienence, there's a lot more value on the Gulf side of the peninsula. A 250sqm house on two rai located 500 meters from the beach costs an attainable 5-7Mthb.
Good luck!
Would be crazy to buy there now, with the place overrun with Russians inflating the prices. It’s better to rent now.
Stunning
Too many ruzzians in Phuket. Kind of ruins the vibe.
70k per month on that first one? I call bs. Real estate guys are just slimy af.
That’s 70k in Baht. About $2,000 U.S./month. Almost the same as living in the states.
I agree, way too much. If you can use the hotel restaurants for free then it's ok I guess and you can make the most out of it. But I highly doubt that. Way too much then.
That’s about $2,000 usd. Where would you be able to get a place like that for $2k in the US?? You gotta put it into perspective…
@@jeffryan7262 Thailand isn't the US - don't directly compare the two.
just looking, thanks...
Now I can see your camera man who is behine your great power shorts.Thx for nice view.guys
whats the cheapest budget house I can buy in Thailand? I'm coming there soon and I'm planning on buying something but it must be the cheapest I can find can you please help me? any advice would help!
scary sounds like time share avoid at all costs never buy part
Thumbs up 👍 Chris
There was a shooting at boat ave 2 weeks ago
Phuket will become the next Singapore. Great video, very informative.
You mean overpriced, overrated.
I’m curious why no one mentioned as a foreigner you cannot purchase a single family home, only if it’s 51% Thai owned?
The company has to be 51% Thai owned as well. There is no way to trick the system.
My thinking is you can own the home if you’re a business, but you can’t own the land it’s sitting on.
To get 51% Thai owned, must you marry more than 1 Thai wife?
@@forest42821 Yes, the math suggests one Thai wife along with two percent of another Thai wife which you can get on a TIMESHARE.
That's apartments you are thinking of, as its possible to fully own apartments. To try and own a house your company which must be an operating company with Thai employees (which you own 49% of) and that can own a house and land as part of their assets - however many opt for shell companies which the Thai authorities are cracking down on and which lead you to have your land seized as its an illegal mechanism to get around the law. Unless you have a legit company its best to think of buying a house as a long term lease.
Love the channel but seems to be a real shift in the comments section recently.
Respect Chris is expanding his business empire but would be nice to sprinkle a few of the old style “ground level” videos in too as opposed to just those appealing to millionaire investors
Hey Adam, remember me? We talked about a year ago now and if i remember correctly you were going to get back to me regarding propertly’s for sale in Thailand. Rodney and Phayom. We will be in Thailand in Sept. this year for 3 months, let me know what you got.
Darn, was going there number of time from 8 to 5 years ago. Now I'm 67, ready to retire.
Foreigners cannot buy landed property right? How does this work?
Saving my dollars ❤😊
That last main bathroom was probably the size of my apartment
4:28 crazy rental prices.
I was hoping I get home to Thailand, and get away from with this whole video seems to be about that I encounter here in Florida. People just throwing up new developments everywhere kill the charm. And I would never buy a property where other people are trying to generate income. That just sounds like a mess. It’s a proven fact that renters do not take care of a property like homeowners. Especially short term I want to be surrounded by people that take pride because that’s where they live and that’s where their money and time is spent.
Also, seems like a lot of foreign development that stress over pricing the area.
Wow
Hi Chris. great videos. I ve been watching you daily for the past two weeks. I am from Florida , near Tampa bay. I am now convinced that i am going to sell my house and move there. I hope to meet you . I am 53.
My question is. I have a disability. I have an amputation below the rt knee. I can walk a mile and climb some stairs.
I see that its a big deal to remove shoes. How do enter a place with a prosthetic limb without removing my shoe?
Slippers and new balance makes a slipon.
Can a foreigner buy a home in Thailand? I heard they could only buy a condo.
Can we get some information about the land? I heard that in Thailand you cannot own the land. Maybe you should do a video about that.
You can't but it's not something they'll want to advertise too openly in a video, especially real-estate agents. You can own the house for thirty years in a lease but after that, it's murky. Condos can be owned but not actual houses.
love
Hey Chris, just wondering if you're home/condo owner in Thailand, if not, what's holding you back from buying.
He's got the Moonstone villa on Samui. Plenty of videos about that one one on his channel.
😉, his girlfriend isn't Thai
The agent's name is Bob? Or Woger?
Sponsore by PRIME......FFS ....FYI this isn't typical / accessible phuket living. Can you look in areas like Kata, Rawai, Chalong?. Looks like you've been sucked into an agent tour. I'm disapointed.
can real estate be bought with Bitcoin?
The last house is nice... Wish there wasnt any neighbor... LoL
For us regulars in usa we cant afford 950k house in thailand but thats truth
🔥
do they have dentists in phuket Bob?
The second villa with massive transformer in the garden area?
That’s not Peterborough, Ontario ! ! 🇨🇦
Just when I thought I was well off living in Thailand.
4.5 MIL USD?? Ooh Lawrdy, who has that kind of Mafia money. 😅😅
Overpriced. 70k rent is too much.
This the world we live in ,otherwise U find urself in the street , if U live in Aussie U understand 😊
What about non Thai buying property
What he is saying that everything is close to where everything is going on is actually not true 😅 I have been traveling to Phuket past 17 years at less 3-5 times a year. I have buy 2 properties there. Laguna is far from everything but it’s closer to airport. Where you want to be is south Phuket: patong, Kata, Karon, Rawai or Chalong. It’s close to the most beautiful beaches, shopping, hospitals, schools or any company that matters if you work. But Laguna is very beautiful & quite. It’s more for relaxing & people without children
Never seen you without an “awkward” shirt on!
nice i just need to win the lottery
I sure hope when im 'retired' i'm not out trying to hock timeshares to youtube subscribers, or having to do tour groups for the worlds most divorced golf bores.
I still don't understand how westerners can buy houses....when they aren't allowed to buy houses.....please explain
Chris, you need to research the actual legality of the 30+30+30 lease thing before you put that on your channel. As far as I ca n work out, anything beyond the initial 30 years is totally non-enforcable. I'm happy to be corrected, but just be a wee bit careful. I don't think that guy is reliable. Just saying... 🤷♂️
You are correct - that is the law and has caused much heartbreak in Thai courts. 30 years is all that's legally possible and the max under the law, the extensions can be denied by the landowner or their heirs at renewal time.
Time for all the comrades to go home and defend the motherland
Get 10% off if you mention Tsunamy... get 20% if you dont... at least the Mud Hut on the beach is now made out of Concrete???
Man! These are not for me. They're for the super rich only
More money does not mean high quality.
Q. What is the reason for the high rental prices in Phuket?
A. Vladimir Putin
Guess my plans on moving to Thailand is not gonna happen. Getting expensive.
There's a lot of nice and affordable places in Thailand. Phuket has been well-known as expensive place to live.
No, just a few islands (Koh Samui, Phuket, Koh Phangan etc.) have higher prices. If you want cheap Thailand, go to the north. The mentioned islands were never cheap
Chris! You do understand that engaging in any kind of real estate work here as a foreigner is strictly prohibited under Thai law right?
People move to countries like Thailand to save money, not spend the same or more than they would in their home countries.
Do bongs
283,000USD is incredible stupid to pay for that first villa. How does that work? Please let us viewers all know how long you actually own/lease the place for? I heard you never can own the place unless you marry a Thai? Is that true?
Even if you marry a Thai the property will be in their name. You don’t technically own the property, like in most western countries. Many foreigners lose their property when they break up with the Thai wife or gf and the Thai decides to keep it, with it being in their name. Unless you can become a Thai citizen which isn’t easy.
Freehold?, Leasehold?, Foreign quota?, CAM?
Most of your viewers are probably in the $200k USD range to buy.
I think you missed the mark here gents, shame!
Not even mentioning the Eastern Block shitfight!!!!
Wow, Beautiful.
Your not buying a house for yourself but your buying a house for someone else, mainly a local.
Retired working for you, I think you're a good man, but you only show unrealistic positive view of EVERYTHING in Thailand and living there. All Thais will tell people straight, there are some really negative things in Thailand, but you as a Farang is giving people the wrong ideas about the reality there. I know you live there and want to show respect, but even super patriotic Thais I spoke to said your views that Thailand is heaven on earth and perfect is very misleading. There are many things negative about the place as well as positives. It's about time you show some balance to things. As long as you don't insult the culture and the people, you have nothing to be afraid of. Just be honest
yeah, there is good and bad everywhere for sure. i have chosen to use my Channel to focus on positivity. And I personally LOVE this country. Much more than any other country on earth. So I'm going to continue going down the positive road because I wake up every day thankful to live here.
เเพงมากๆ
Thais by law own 51% of the property and will want their cut of your money when selling if they legally dont sell it without your permission. Been in Thailand 3 decades and have seen this many times.
i never get sick of the euro haters on LOS. LOL.😂😂😂😂😂
That seems to be very against Thai spirit and law. Way to go
Why would anyone buy when you can rent very cheaply? The most expensive thing about Thailand is getting there.
Why would you build, let alone buy, something that expensive on land that you cannot own 🤷♂
This is beyond me, not to mention this is opposite of what Thailand travel and living is about.
2k+ low end😢
Why this channel feels like a commercial ride from start to end of lots of videos and shows a romantized perpspective to generate more?..
Is there anything for someone who only makes 750,000 baht annually? You seem to cater to the wealthy.