You are correct in leasing the land. For your lease to be valid for 30 years you have to have the lease in your name. After you have the lease you have to go with the property owner to the local land office and have the 30 year lease registeted on the chanote, or deed. That would cover you for the land. Then to own the house you also need to have a right of superfices also put on the chanote, or deed to own the house. Only then are you completely covered and can't be thrown out. If there is a new owner in the future the new owner is legally required to honor the lease for the full duration. Also there is only a 30 year lease, renewals are not automatic. This is according to the Thai land act, section 540. The lease can be renewed again at the end but has to be agreed to by both parties and re-registered on the chanote, or deed.
Hey Parkers, I'm so thrilled others are starting to catch onto one of my favourite channels. Your down to earth approach to life and video creating is an absolute joy. Hopefully the new mattresses are more comfy than the AI generated ones that came with the house. Highlight of my day is seeing a new video pop up from your guys, many thanks 🤗
Thank you for watching and commenting. You have been a great supporter of us and our channel and we genuinely appreciate it. The new mattresses are excellent!
Thanks for the family background story, guys - very interesting indeed. When I watch your videos, I see two honest and authentic people who are sharing valuable insights into purchasing a house and retiring & living in Thailand. Your work is appreciated. As for the 'funny' comment, welcome to the weird and wonderful word of the 'comments section'. Have a wonderful day and keep up the good work!
Nice to see you all settled in your new house. It looks really nice and I hope you’re very happy there. I have found a reasonable rental on Soi 102 so I’m settled now as well.
Hey Parkers congrats on your beautiful new home good size of land how far your house from CHA AM beach and local market look forward more videos of new homes have wonderful day thanks for sharing 🙏
Hey guys, first of all many congrats on the new house, looks amazing!!! Just wanted to apologise as I said I would take you guys out for a meal in April but we all got the dreaded tummy bug which lasted for many days for some of us. We are back in July next year and will defo see you then!
Congratulations and best wishes with your new home. I have been considering the same myself in retirement in a few years time. I would be highly unlikely to be around by the end of a 30 year lease so assuming I have a property there that is part of my estate, I wonder if it is sold with the remaining time on the lease eg, 10 years, in which case it would be less desirable to many purchasers, or does the lease get renegotiated for another 30 years. Have you had and discussions regarding this?
Thank you for your comment. Please get your own Thai legal advice. We are not experts. Estate law in Thailand is something we know nothing about. Sorry, we are not qualified to comment on something as critically important as this. We have had no discussions with anyone on this matter because we don't care what happens after we die.
Thank guys love watching your vlogs real down to earth Lots of interesting information Carnt wait to get there in acouple months I hope you’re real people lol if you know what mean Nice to get some information how you got there 😀
Foreigners can buy freehold "property" such as condominiums (up to 49% of condo building/project) and houses but not the land on which it sits, in Thailand. There are some very, very, very rare exceptions to this. Recently, the Land Department proposed to allow legitimate foreign heirs of landholders to inherit land. And depending on some investment schemes, foreigners can hold up to 1 rai of land for residential use or 10 rais for agricultural purposes. There are quite a few places in "Western" countries where lease-holding is common. The UK is a prime example; huge parts of London is held by trusts controlled by the Duke of Westminster owning the land on which houses, stores and businesses, that he does not own, are built. In any transaction, consult a licensed and reputable real estate lawyer. Creating Thai companies, using Thai nominee shareholders to own 51% of the company, can be considered illegal. Phuket is now (June 2024) cracking down on this activity, as lots of illicit activities are happening with these companies owned by foreigners using the nominee shareholders to circumvent the law. I suspect this scrutiny will move across the country soon, as land prices have increased dramatically.
Thank you for sharing. I've appreciated your videos. I've lived in Phuket for 2½ years, but I'm getting sick and tired of it. Moving up to Hua Hin in October with my thai wife.
I always laugh when I read about people complaining about busy phuket so moving hundreds of kilometres away. Most of Thalang District (which makes up the northern half of the island) is fairly quiet. Hua Hin is horrible every weekend when hundreds of thousands travel down from Bangkok
Hi guys, great house, great video. One question - can you confirm what amount would be required to be paid at the 30 year point to extend the lease? Is it a nominal fixed payment agreed in advance, is it the same amount paid at the beginning, or is it some sort of market valued amount?
Thank you for watching and commenting! It is not something we are concerning ourselves with because we will most likely not be in this world any more (90+ years old) when it comes around.
Thanks for sharing. My only question is how freehold can become leasehold. If any Thai person can issue a lease then they're wouldn't be a difference. Property developers may be given some special rights or the entire property market would open to foreign ownership via leases. Is that you're understanding, that only certain properties can be leased?
The entire property market is open to Thais and foreigners equally. Thais get to own the land the house sits on. Foreigners get to lease the land the house sits on (from a Thai person who owns the land). I guess there will be some sellers who do not wish to sell to foreigners but given that right now foreigners are the only ones with money and Thais are not buying it's not a great strategy. Remember we are only talking about the land here. There are no restrictions on foreigners owning the actual house.
@@HereComeTheParkers I guess you would need to ask the seller if they're willing to lease. It would be some extra work for them and I bet most Thai's never knew about leases. I've bought land recently but it's just in my Thai wives name so tied to the marriage and I bet I'm lucky to get even 50% if we split up. Never thought about leasing the land but I don't figure I could get away with that since i'm married. :)
@@HairyPixels well given that under no circumstances can foreigners own land it would follow that any separation will mean she gets 100% of the land. The house will probably get split 50/50 but I'm only guessing.
How much will the lease renewal cost? These things are rarely done without a charge. For the more unscrupulous landlords in the west, it's an opportunity, and if the renewal charge is deemed over the top by the lessee, then it's arbitration time.
The land is the part that retains value. The structure loses value constantly. All Thailand would have to do to safely encourage wealthy foreigners to come to Thailand is: 1. Restrict ownership to 2 or 3 provinces only, likely the tourist zones. 2. Impose large inheritance and transfer taxes on foreign owned property, which is generally how to insure that landed property is sold on the death of the owner, i.e., in order to pay the tax.
What kind of guarantee do you have on that lease contract though? Say the owner of the land has a forced bankruptcy + liquidation. His bank can’t take that land from him? Your contract is protected from that? I get that it’s easy to setup the lease and purchase the home / pay for temporary use of the land but my biggest concern is over the lifetime of the lease, what are the potential ways it can be broken. None of those were covered
@@steampunk888yea when I watched the video I actually did some napkin math on it. It ends up being twice as costly as renting when you add in home maintenance, repairs, insurance, etc over the 30 years. Plus you are locked into one specific location. Financially it absolutely doesn’t make sense but from a peace of mind perspective and if you don’t need the money, I can see why people would do it. My napkin math ~ Based on 3% inflation 7.6m / 30 years rent 21.2k/month which is starting from 12.5k which is equal to 4.5m initial price of house and land today 4.5m initial cost to buy house / 30 year lease land. Opportunity cost of that 4.5m at 3% is 10.9m over 30 years Renting saves 3m thb over 30 years. That 3m compounded at 3% is 5.13 million (doesn’t include extra costs of owning a house, savings are likely 7-8million over 30 year renting vs owning Average home owning cost per month is 30.2k (owner needs to cover insurance, taxes, repairs, upgrades Average rental cost is 21.2k (renter pays no additional fees)
@@steampunk888 lose value in what way? They get the lease on the land for 30 years. They also own the structure and can do as they wish with it. I would think if you do the math it turns out far less expensive then renting and the person on the lease has full LEGAL protection for 30 years. They can't be evicted. How is this "pissing money away"?
Hi, I’m trying to find your email address but am having difficulty finding it. I’ve looked under the “about” section of your homepage but I can’t see it anywhere. Can you please point me in the right direction. Thanks.
The “About” section is only available if you access the channel on a desktop computer or laptop. It is not available on a smartphone or tablet. It’s a UA-cam thing. I don’t know why it’s that way.
@@HereComeTheParkers I would think that it's more about control, and retaining Thailand as a Thai country. I live in Vietnam, which being Commy, is pretty much the same.
Hey guys, you said that on your about Pages where your email is don’t see it. I’m the only thing I see is at here comes the Parkers but it says it’s an invalid email address. Could you send me your email address? Thank you.
The "About" button I mentioned is not available when you access UA-cam from a smartphone or a tablet. You have to use a desktop or laptop computer (Windows or Mac) to access the "About" button. This is a UA-cam thing. I don't know why it's like that.
You are correct in leasing the land. For your lease to be valid for 30 years you have to have the lease in your name. After you have the lease you have to go with the property owner to the local land office and have the 30 year lease registeted on the chanote, or deed. That would cover you for the land. Then to own the house you also need to have a right of superfices also put on the chanote, or deed to own the house. Only then are you completely covered and can't be thrown out. If there is a new owner in the future the new owner is legally required to honor the lease for the full duration. Also there is only a 30 year lease, renewals are not automatic. This is according to the Thai land act, section 540. The lease can be renewed again at the end but has to be agreed to by both parties and re-registered on the chanote, or deed.
Thanks for your comment. We did everything you mentioned. That's why we used a lawyer whom we have been using for years.
Hey Parkers, I'm so thrilled others are starting to catch onto one of my favourite channels. Your down to earth approach to life and video creating is an absolute joy. Hopefully the new mattresses are more comfy than the AI generated ones that came with the house.
Highlight of my day is seeing a new video pop up from your guys, many thanks 🤗
Thank you for watching and commenting. You have been a great supporter of us and our channel and we genuinely appreciate it. The new mattresses are excellent!
Thanks for the family background story, guys - very interesting indeed. When I watch your videos, I see two honest and authentic people who are sharing valuable insights into purchasing a house and retiring & living in Thailand. Your work is appreciated. As for the 'funny' comment, welcome to the weird and wonderful word of the 'comments section'. Have a wonderful day and keep up the good work!
Thank you so much for your kind words.
Nice to see you all settled in your new house. It looks really nice and I hope you’re very happy there.
I have found a reasonable rental on Soi 102 so I’m settled now as well.
That's fantastic Lynn. Still hope to see you around at some stage.
Congratulations on your new home! Thank you for all the good information!
Thank you and thanks for watching and commenting.
Thank you for sharing your house hunting and now purchase videos. Very useful information. 🙏
Thank you and thanks for watching and commenting.
Hey Parkers congrats on your beautiful new home good size of land how far your house from CHA AM beach and local market look forward more videos of new homes have wonderful day thanks for sharing 🙏
Very useful video. Thank you ❤
You are both so awesome..Loved your video, you both explain everything so well. I wish we were in a position to move to Thailand. Sounds wonderful.
The crazies would love it ! Although it is very hot.
Congratulations, it looks great.
Thank you! Cheers!
Hey guys, first of all many congrats on the new house, looks amazing!!!
Just wanted to apologise as I said I would take you guys out for a meal in April but we all got the dreaded tummy bug which lasted for many days for some of us.
We are back in July next year and will defo see you then!
No worries Jon. Nothing worse than getting sick on holidays !
Congratulations and best wishes with your new home. I have been considering the same myself in retirement in a few years time. I would be highly unlikely to be around by the end of a 30 year lease so assuming I have a property there that is part of my estate, I wonder if it is sold with the remaining time on the lease eg, 10 years, in which case it would be less desirable to many purchasers, or does the lease get renegotiated for another 30 years. Have you had and discussions regarding this?
Thank you for your comment.
Please get your own Thai legal advice. We are not experts. Estate law in Thailand is something we know nothing about. Sorry, we are not qualified to comment on something as critically important as this. We have had no discussions with anyone on this matter because we don't care what happens after we die.
Thank guys love watching your vlogs real down to earth
Lots of interesting information
Carnt wait to get there in acouple months
I hope you’re real people lol if you know what mean
Nice to get some information how you got there 😀
hahahaha thanks Des !
Great house
Thank you !
Good to buy
That's what we think too.
Foreigners can buy freehold "property" such as condominiums (up to 49% of condo building/project) and houses but not the land on which it sits, in Thailand. There are some very, very, very rare exceptions to this. Recently, the Land Department proposed to allow legitimate foreign heirs of landholders to inherit land. And depending on some investment schemes, foreigners can hold up to 1 rai of land for residential use or 10 rais for agricultural purposes. There are quite a few places in "Western" countries where lease-holding is common. The UK is a prime example; huge parts of London is held by trusts controlled by the Duke of Westminster owning the land on which houses, stores and businesses, that he does not own, are built. In any transaction, consult a licensed and reputable real estate lawyer. Creating Thai companies, using Thai nominee shareholders to own 51% of the company, can be considered illegal. Phuket is now (June 2024) cracking down on this activity, as lots of illicit activities are happening with these companies owned by foreigners using the nominee shareholders to circumvent the law. I suspect this scrutiny will move across the country soon, as land prices have increased dramatically.
Nice.
Thank you !
Im hearing you can own 10rai if you invest 40mil bht in thai government bonds. Thailand is open for business but to hi net worth individuals
Thanks
Thank you for sharing. I've appreciated your videos. I've lived in Phuket for 2½ years, but I'm getting sick and tired of it. Moving up to Hua Hin in October with my thai wife.
It is so much quieter here that's for sure. Good luck with the move.
😊🙏
I lived in Karon for 18 months. I'm very happy to be out of there.😂
I always laugh when I read about people complaining about busy phuket so moving hundreds of kilometres away. Most of Thalang District (which makes up the northern half of the island) is fairly quiet. Hua Hin is horrible every weekend when hundreds of thousands travel down from Bangkok
@@domi9577better than millions of Russians..
Hi do you pay ever 30 years what the land wealth to the land holder thank martin
You can own land if it’s worth more then 40 million baht and only 1 rai in size
Thanks.
Hi guys, great house, great video. One question - can you confirm what amount would be required to be paid at the 30 year point to extend the lease? Is it a nominal fixed payment agreed in advance, is it the same amount paid at the beginning, or is it some sort of market valued amount?
Thank you for watching and commenting! It is not something we are concerning ourselves with because we will most likely not be in this world any more (90+ years old) when it comes around.
Thanks for sharing. My only question is how freehold can become leasehold. If any Thai person can issue a lease then they're wouldn't be a difference. Property developers may be given some special rights or the entire property market would open to foreign ownership via leases. Is that you're understanding, that only certain properties can be leased?
The entire property market is open to Thais and foreigners equally. Thais get to own the land the house sits on. Foreigners get to lease the land the house sits on (from a Thai person who owns the land). I guess there will be some sellers who do not wish to sell to foreigners but given that right now foreigners are the only ones with money and Thais are not buying it's not a great strategy. Remember we are only talking about the land here. There are no restrictions on foreigners owning the actual house.
@@HereComeTheParkers I guess you would need to ask the seller if they're willing to lease. It would be some extra work for them and I bet most Thai's never knew about leases. I've bought land recently but it's just in my Thai wives name so tied to the marriage and I bet I'm lucky to get even 50% if we split up. Never thought about leasing the land but I don't figure I could get away with that since i'm married. :)
@@HairyPixels well given that under no circumstances can foreigners own land it would follow that any separation will mean she gets 100% of the land. The house will probably get split 50/50 but I'm only guessing.
@@HereComeTheParkers I think they give you 12 months to sell the property and split the profit. Not sure if that actually happens in practice though.
@@HereComeTheParkersThat's because the "actual house" is a depreciating asset.
How much will the lease renewal cost? These things are rarely done without a charge. For the more unscrupulous landlords in the west, it's an opportunity, and if the renewal charge is deemed over the top by the lessee, then it's arbitration time.
We are not going to concern ourselves with something that may happen after we die. Couldn't care less. Life too short.
The land is the part that retains value. The structure loses value constantly. All Thailand would have to do to safely encourage wealthy foreigners to come to Thailand is:
1. Restrict ownership to 2 or 3 provinces only, likely the tourist zones.
2. Impose large inheritance and transfer taxes on foreign owned property, which is generally how to insure that landed property is sold on the death of the owner, i.e., in order to pay the tax.
What kind of guarantee do you have on that lease contract though? Say the owner of the land has a forced bankruptcy + liquidation. His bank can’t take that land from him? Your contract is protected from that?
I get that it’s easy to setup the lease and purchase the home / pay for temporary use of the land but my biggest concern is over the lifetime of the lease, what are the potential ways it can be broken. None of those were covered
If it happens we will be sure to let you know.
If the lease is registered on the chanote, or deed, the new owner is legally required to honor it.
There is no way to do it like this without pissing away the money. Both the structure and the lease constantly lose value.
@@steampunk888yea when I watched the video I actually did some napkin math on it. It ends up being twice as costly as renting when you add in home maintenance, repairs, insurance, etc over the 30 years. Plus you are locked into one specific location. Financially it absolutely doesn’t make sense but from a peace of mind perspective and if you don’t need the money, I can see why people would do it.
My napkin math ~
Based on 3% inflation
7.6m / 30 years rent 21.2k/month which is starting from 12.5k which is equal to 4.5m initial price of house and land today
4.5m initial cost to buy house / 30 year lease land. Opportunity cost of that 4.5m at 3% is 10.9m over 30 years
Renting saves 3m thb over 30 years. That 3m compounded at 3% is 5.13 million (doesn’t include extra costs of owning a house, savings are likely 7-8million over 30 year renting vs owning
Average home owning cost per month is 30.2k (owner needs to cover insurance, taxes, repairs, upgrades
Average rental cost is 21.2k (renter pays no additional fees)
@@steampunk888 lose value in what way? They get the lease on the land for 30 years. They also own the structure and can do as they wish with it. I would think if you do the math it turns out far less expensive then renting and the person on the lease has full LEGAL protection for 30 years. They can't be evicted. How is this "pissing money away"?
Hi, I’m trying to find your email address but am having difficulty finding it. I’ve looked under the “about” section of your homepage but I can’t see it anywhere. Can you please point me in the right direction. Thanks.
The “About” section is only available if you access the channel on a desktop computer or laptop. It is not available on a smartphone or tablet. It’s a UA-cam thing. I don’t know why it’s that way.
Oh ok. Thanks for that. That explains why I couldn’t find it haha
@@granti4628 that problem trips everyone up. I wish it wasn't like that, but this is UA-cam! I should have mentioned the problem on camera.
Hi there I’ve looked for your email address on your page I can’t see it I have a few questions about your new property
You can’t see the “About” button when using a smartphone or tablet. You have to use a laptop or desktop computer PC or Mac.
great stuff - sent a contact email. Thanks - Nice place..Enjoy!
How can you sell the house? I think you can not sell it.
We did not buy it for an investment.
🫶
and now the Thai government knows about you - silly!
And?
omg AI generated house..I'm dying 🤣🤣
hahahahahaha . He or she must need glasses I think
Please dont buy House s in Thailand...youll thank me later😂😂😂😂.
Condos are OK .
Well we have a family of five and 6 cats. Some of us are not suited to live in a condo.
@@HereComeTheParkers Thai govt doesn't want Foreigners buying up their Land is the Issue.
@@user-bk1kc5kw9d yeah I guess they don't want Thailand ending up like Australia where no one can afford a house. But who knows. It is what it is.
@@HereComeTheParkers I would think that it's more about control, and retaining Thailand as a Thai country. I live in Vietnam, which being Commy, is pretty much the same.
@@zedbou5040 that's definitely true as well.
Hey guys, you said that on your about Pages where your email is don’t see it. I’m the only thing I see is at here comes the Parkers but it says it’s an invalid email address. Could you send me your email address? Thank you.
The "About" button I mentioned is not available when you access UA-cam from a smartphone or a tablet. You have to use a desktop or laptop computer (Windows or Mac) to access the "About" button. This is a UA-cam thing. I don't know why it's like that.
@@HereComeTheParkers is it possible for you just to send me your email address
@@joemachado316 how would you like me to do that?