Foreigners cannot buy land in Thailand , only condominium units and apartments . However, a foreigner can buy a whole building, minus the land on which it is built. In recent years, minor changes in Thai law have allowed nonresidents to explore the Thai real estate market.
A one-bedroom apartment in the center of a major city, like Bangkok, will run you about $650 per month for rent. When you factor in utilities, that cost reaches more than $700. Other monthly costs are likely to add up to between $600 and $700 per month.
Generally, foreigners are not allowed to directly purchase land in Thailand . Simply put, Thai laws prohibit foreigners from owning land in their own name, although theoretically there is an exception but it is yet to be seen in practice.
Under Thai law, up to 49% of the unit area of any condominium may be owned by foreigners . Provided the requisite Thai -owned percentage within a given development is maintained, a condominium unit can be fully and legally titled in the name of a foreigner .
Obtaining status as a Permanent Resident (PR) in Thailand has many advantages. It allows you to live permanently in Thailand , with no requirement to apply for an extension of stay. You will also be able to apply for an extension of stay and Permanent Resident status for your non- Thai family members.
Average wages in Bangkok is pretty high compared to other areas of Thailand. Currently, the average wage in Bangkok is of 25,500 Thai Baht per month, or approximately 800 USD . Bangkok has some of the highest average salaries among ASEAN members capitals.
1,000 baht a day is a lot more than the minimum wage (in the formal job market and way way more than up country) in Thailand. Few people would come Thailand to holiday as a poor Thai.
Convert US Dollar to Thai Baht
|1 USD||30.0412 THB|
|5 USD||150.206 THB|
|10 USD||300.412 THB|
|25 USD||751.030 THB|
like other answers, there are many level of wealthy. In rural place, spending 10,000 Baht a day is the rich one. But in Bangkok spending 100,000 Baht a day, consider to be rich . But I would conclude that if you can have monthly income over 1 million Baht, you are rich for sure.
You can apply to live in Thailand long term if you are married to a Thai or if you have a Thai child or children. The marriage visa for Thailand is issued at a Thai Embassy in your home country and it is normally issued as a single entry visa and valid for 90 days once you enter Thailand .
It is not as easy to find a good job in Thailand as in your home country. But then of course it doesn’t mean it’s not possible and with the right approach I will show you here you will have a lot higher chances to find employment in Thailand than you might think.
Buying a Villa Given restrictions on land ownership, foreigners cannot own a villa outright, rather they must purchase a leasehold agreement. In general, this process is straight-forward and you should expect an offer of a 30-year lease on any villa or home, which is the maximum duration for any leasehold in Thailand .
Condominiums can be a good investment for the right buyer in the right location when times are tough , though they can be harder to buy and sell than a detached house. Before purchasing a condo , be sure to do your due diligence and check out the HOA, CC&Rs, and any tax and insurance situations.
In terms of new condos, the starting price for a one bedroom, 22 sq meter property is around 1 million Baht (45,000 THB per meter squared). This would be the price of a basic condo away from the BTS / public transport and built by a developer such as Lumpini.
Under the right circumstances, buying a condo in Thailand can be a rewarding purchase and a good investment. If you are a foreigner interested in buying a condo in Thailand there are several issues you need to be aware of. First, foreigners may only own 49% of a single condo development.