Why are so many wealthy Western retirees buying property in Bangkok?

Retirees are all looking for the same thing: somewhere in the sun that’s friendly with lots of leisure activities and, most importantly, affordable medical care. Thailand’s medical facilities, top-end of course, are becoming popular with foreigners who can find Western level service at much cheaper prices.

Accommodation in Bangkok, which comes in 133rd in the global property index, and the world-famous entertainment and leisure venues go a long way in making Bangkok a desirable place to retire. Recently, the opening of the new subway has, along with the existing skytrain service, made life in this overly-congested city at lot easier.

Property prices in Bangkok fair very well when compared with London, New York or even the Spanish Costas, where many people are now selling up due to the increased cost of living and soaring crime rates. A typical apartment in London’s West End sells for around US$7,500 a square meter, where in central Bangkok you can find an apartment with swimming pool, security and even tennis courts for around US$1,800, more than four times cheaper than its equivalent in London.

Due to the increased costs of living in Western countries and dwindling social security care, retirees are finding that when they sell their properties in their home countries they could have enough money to buy a more luxurious property in Bangkok with enough cash left over to support themselves in a far more enjoyable lifestyle without worrying about making ends meet.

Retirees who flocked to Florida in the 80s found the warm climate and fun facilities offered them a great and extended life, but paradise is turning in to a nightmare for some who are finding themselves running short on the pension plan savings - not something that you want to worry about after spending years at work and looking forward to a comfortable retirement.

Bangkok if a veritable melting pot of cultures and you can step from first to second to third worlds with a few easy steps. With many International restaurants and a growing expatriate community many Westerners never get too homesick.

It may be of a surprise but even the English football league is televised locally and many Thais are supporters of the top English clubs with Manchester United and Liverpool being the most popular.

The only drawback to a life in Thailand comes mainly from the government who still have a way to go to compete with the ’silver haired’ package the Malaysian government offers, However, Thailand still continues to draw more and more people to it sun-drenched shores.

Living In Hua Hin Thailand

When one considers buying a home in a new country, it must be an extremely daunting prospect. Picking up and moving your entire life to a new country where you don’t know too many people and have to start fresh is not something very many people have the stomach for. However for those who do, an unexpected treasure might await them for when they take the plunge.

 “We think that Thailand is a wonderful, beautiful and safe country to live in.” –Willem Schut

An anecdote from a lovely couple Willem and Gerda Schut who decided that after 33 years of blissful married life in Holland, to immigrate to Thailand and start a new adventure together.

In February of 2005 after a long orientation of Hua Hin, they were introduced to the developer of Avalon Villas and without hesitation they decided to buy a house from him, even though nothing yet was built on the Avalon site.

It worked out very well for them, and now in August 2006 they live in a house that they partly designed themselves and which completely lives up to our expectations.

The building process took quite a long time and that was one of the many of their many experiences. When a person wants to build a house in Thailand they must have a lot of patience. There is no the logical and systematical planning and managing of the construction as one might be used in Europe or America. And especially when one does not build a completely standard house, one should try and be there everyday or at least have a representative who monitors the building activities for you, so that you can stay abreast of the development.

Willem and Gerda experienced some of the strangest things -- like the building of a door were there should have been a window. Where a washing machine was on the architectural plans, no plumbing and electrical socket was installed. Sometimes for weeks it seemed nobody was working on the house without any explanation.

In the end instead of half a year, the building of their home took almost a whole year. If you cannot handle that, you will become very stressed and annoyed quite easily.

But Willem just smiles on and says, “By now we are used to all this and anyway, we came to Thailand to live a more relaxed lifestyle, so why worry because building takes a few more months!”

To him, it seems that Thai people have a total different mindset then western people. They are much more relaxed and most of them live from day to day with much less worries. Willem and Gerda also had the impression that in this country there are much less rules and legislations as compared with Europe and anyway things are much less detailed and rigid. This also makes living here more relaxed.

Sometimes formal procedures are supposed to be very time consuming and sometimes quite difficult. However they have experienced, in the case of applying for their retirement visa at the Immigration Office in Bangkok that in two hours they were outside with their visas in hand. Also with the new Immigration office in Hua Hin since September last year, the officers here are very kind and helpful.

Willem and Gerda had the same experience buying a motorbike and a car and obtaining their Thai driving licenses and later on work permits and a business visas. They have now both gained quite some experience in Thai traffic as well. Most roads in Thailand are very good and it is easy enough to travel by car through the country. One must however drive carefully because other drivers of motorbikes and cars come from all sides and overtake on left and right side. It is not a country for speeding and defensive driving might be they key to an uneventful road trip.

The couple has visited several forest parks and marveled at the flora and fauna which is quite stunning. They feel that it is absolutely incomparable with most countries in Europe and definitely not as crowded as Holland. Thai food is also excellent and not always spicy as some may perceive. Most of the times residents in Hua Hin buy food from the local market and most will come away with the thoughts that it is varied and very tasteful.

The possibilities for shopping in Hua Hin have dramatically increased over the last year. Along with the famous night markets, Hua Hin now plays home to the Market Village shopping mall which carries most of the well known international brands and also houses a 5000 sqm Tesco supermarket and equally large HomePro for all those home needs. Of course the language is a little difficult to pick up with the very intricate tone system, but the experience there is that Thai people really appreciate it when you at least try.

Willem and Gerda’s conclusion -- that Thailand, and especially Hua Hin, is the place to be, but there are a few words of wisdom to keep in mind: patience, patience, patience and learn their mindset and their language. Then living in this country is absolutely wonderful.
 

Not Yet Ready To Buy A House in Hua Hin?

Some of you have been spending your holidays in Hua Hin and have considered buying a second home in Hua Hin. With the present uncertainties you could wonder if now is the right time to take such a big decision.

Hua Hin offers many advantages to be the right place to buy a second home. Just 220 km south of Bangkok is easily accessible; this charming seaside town located on the Gulf of Thailand has been the favorite destination for royalty and well-to-do Thai since 1920. The King’s residence in Hua Hin encourages a peaceful , safe and relaxed family atmosphere. The strong growth in affluent tourists from Europe and the Far East have led to the development of several new 5 star hotels.

Hua Hin is Thailand’s premier golf destination , boasting seven 18-hole golf courses within a 20 km radius, with more golf courses under construction.

Hua Hin with its temperate climate and unspoilt Thai character is an ideal golf and family destination with an extended holiday season of 10 months a year.

With the limited availability of prime land for development and rising construction cost, the long term outlook for property in Hua Hin is good and prices are expected to rise significantly over the next few years. Land prices in prime locations have already more than doubled in the last 2 years.

Therefore waiting could mean that eventually you will end up having to pay a higher price for your second home.