If you want to retire in Bangkok then read further. Bangkok is a huge city and your mileage will vary with regards to the cost of living. You can decide what you wish to spend on average in Bangkok during your retirement. Retirement in Thailand starts with a Thai retirement visa or marriage visa for Thailand. Bangkok also has many investment properties which could make for a good long term investment.
Retire in Bangkok
Property in Bangkok
When you retire in Bangkok and look at property rentals you will note a very wide rental range. If you are looking high end, then the property rentals range on average at about $600 per month. The range is wide from about $300 per month to about $900 per month. These would be the average rentals inside Bangkok. On the outskirts of the city these range to about half at that ranging between $180 per month to $450 per month. Buying property in Bangkok can be expensive so you will need to check your budget and you can see the article on buying investment property in Bangkok for more information. Buying property can range from $3,000 per square meter to $7,000 per square meters inside the city while about half of that on the outskirts of the city. Always take legal advice on buying property in Thailand as foreigners are only allowed to own 49% of the condo units in a building. If you are looking at buying property, then legal advice would be the first advice.
Retirement in Bangkok
If you want to retire in Thailand then you will need to show 800,000THB in a Thai bank account and be older than 50 on the day of application. You can also show 65,000THB in income monthly if you don’t have the deposit or obtain a letter from your Embassy in Bangkok showing that your pension makes this amount. If you are married to a Thai national then you can apply for a Thai marriage visa or Thai “O” visa and extend this visa each year with 400,000THB in a Thai bank account. Speak to a Thai immigration lawyer about these and other immigration issues which you may encounter.
Cost of Living in Bangkok
The cost of living much like the apartment rentals vary widely in Bangkok. How you decide to spend your money in Bangkok will depend on you. Your day to day will be more expensive than if you retire in Korat or retired in Issan however it is at the same level as Pattaya and Chiang Mai.
|Meal, Inexpensive Restaurant||2.44 $|
|Meal for 2 People, Mid-range Restaurant, Three-course||27.40 $|
|McMeal at McDonalds (or Equivalent Combo Meal)||5.48 $|
|Domestic Beer (0.5 liter draught)||2.44 $|
|Imported Beer (0.33 liter bottle)||4.72 $|
|Cappuccino (regular)||2.32 $|
|Coke/Pepsi (0.33 liter bottle)||0.60 $|
|Water (0.33 liter bottle)||0.32 $|
Depending on how you wish to retire be this buying a condominium in Bangkok or renting you are always best advised to speak to a lawyer about any move you are about to make. Secure your retirement visa as well as register your marriage or prenuptial agreement if you are going to get married in Thailand. Come and retire in Bangkok with the rest of us!