Buying Property In Thailand?

Rhonn wrote:

Hello to all members!

I am planning to retire to live in Thailand anytime within the next 6 years, and I would like to hear from people who have already made the move and who have bought property, more so an apartment rather than a house, as I understand it is very complicated to own the land that a house sits on.

Is it an easy process for a Farang to buy an apartment in Thailand? I understand that a Farang can live in Thailand with no problem as long as they can support themselves, as well as always having 150,000B in their Thai bank account.

I would also like advice on buying a small bar as a business?

Any up to date information will be greatly welcomed!

Not sure what you're referring to with regards to the 150K as I've never heard that amount being required. I'm married and need 400K in the bank or 40K a month. If you're 50 and retiring, you need to show 800K or 65K a month.

I'm not positive of the rules when buying here as I have land with my wife. Technically it's her land and her house. You can buy a condo here and it is relatively straight forward. 

Advice on buying a bar here: Don't.

I'm dead serious. Unless you are prepared to put a ton of money into it or live off next to nothing, I wouldn't advise it. I know several people who own bars. Two of the guys are in Phuket and they make big money but their bars do a huge amount of volume and they've invested hundreds of thousands of $$$.

I know two others who owned bars in Bangkok plus one who still does. Both former owners were lucky to stay afloat. It was more a place to bring their friends to party than anything else and aside from the staff robbing them blind or at least attempting to, the girls being a huge pain in the rear, and never quite enough customers, everything was grand. I have no idea if you know about the bar business but for every guy who makes it here, there's probably 20 others who fall flat.