News Forum - Senior citizen properties could be Thailand’s untapped market

[Thaiger]

Senior citizen properties could be Thailand’s untapped market, and it seems, one real estate company is catching on to the trend. According to Bangkok Post, Nye Estate Co, a subsidiary of property developer Narai Property Co, is renovating a suspended riverside condo building in Nonthaburi in order to develop independent living unit rentals for senior citizens. Chief executive Ornruedi Na-Ranong noted that Thailand’s population is rapidly aging. She says the number of people aged 60 years old and above is increasing in Thailand and is predicted to account for 30% of the total population in the next 14 years. In […]

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[Prosaap]

They are like children spending the money that maybe come in they get dumber by the minut

[Dedinbed]

19 minutes ago, Thaiger said:

She says the number of people aged 60 years old and above is increasing in Thailand and is

predicting the elders will scroll their way down there .. 

[HolyCowCm]

Don't they ever get tired of hearing themselves talk? or is it like a personal aphrodisiac jolly every time they spout off . 

[Bob20]

It's not untapped at all.

Don't know whether anyone saw it, but a few years ago there was a TV programme in the style of the Best Marigold Hotel with a few UK celebrities in CM. That showed the plusses of living in Thailand as there are plenty of things organised for the elderly and care was shown to be excellent.

Just like health tourism, it may well attract some. Simply don't overestimate. But, every little bit adds up.

https://www.bbc.co.uk/programmes/b09l982h

[ThailandBob]

After forcing them out of LoS at age 70? I wouldn't hold my breath.

[9S_]

Please don’t go with the American route of dumping parents in retirement homes. 
 

I find it profoundly beautiful that children take care of their parents in Thailand. Sure I don’t talk to my FIL but I’m glad he’s with us to take care of our kids. 

[Marc26]

6 hours ago, 9S_ said:

Please don’t go with the American route of dumping parents in retirement homes. 
 

I find it profoundly beautiful that children take care of their parents in Thailand. Sure I don’t talk to my FIL but I’m glad he’s with us to take care of our kids. 

Every single American I know(and I know a lot, being an American) as well as Canadians(again, I know a lot since lived there 17 years) take care of their elderly parents, if needed.

Grandparents are involved in life, almost on a daily or weekly basis, with a lot of them living with their children.

I mean I guess you can spin some false narrative you wouldn't have the slightest idea about.........

But of course, you would be wrong.

Although I doubt you really care about that........

 

And, I would say the relationships are about 1000x more functional than most Thai families dynamics I know of, with children under immense pressure to care for their parents, a lot who are capable of doing so themselves but rely on their children

[BIGGLES]

With the way the ex Pat's, have been treated in recent times, who would invest in a retirement property in Thailand? Just RENT, and pay a house girl/boy to look after you. Simple!

People should keep an eye on the Chinese property  company Evergrande, when it goes bust, the worldwide economic fall out will be as bad as the 2008 Lehman Brothers financial disaster,  or worse!

 

[palooka]

14 hours ago, 9S_ said:

I find it profoundly beautiful that children take care of their parents in Thailand. Sure I don’t talk to my FIL but I’m glad he’s with us to take care of our kids. 

Sadly not all families are the same, elderly Thai near us is under pressure from his children, to the extent of assaulting him, to sell the family house and divide up the proceeds.

[9S_]

On 11/19/2021 at 10:33 PM, Marc26 said:

Every single American I know(and I know a lot, being an American) as well as Canadians(again, I know a lot since lived there 17 years) take care of their elderly parents, if needed.

Grandparents are involved in life, almost on a daily or weekly basis, with a lot of them living with their children.

I mean I guess you can spin some false narrative you wouldn't have the slightest idea about.........

But of course, you would be wrong.

Although I doubt you really care about that........

And, I would say the relationships are about 1000x more functional than most Thai families dynamics I know of, with children under immense pressure to care for their parents, a lot who are capable of doing so themselves but rely on their children

If true then why are there many retirement homes in the US. 
 

It’s not American culture to take care of parents living in one’s own home. If that were true you wouldn’t see a prolific amount of retirement homes, not just retirement homes but retirement communities in the US. US states devoted to attracting elderly Americans due to low tax status and cheaper cost of living. Are their entire families moving with them to these retirement communities? If so they’re violating clauses embedded in these communities that prohibit younger family members from living within these same communities. Sure they can visit but they can’t live there.

You can spin your false narrative all day but the facts are the facts. And personal anecdotes do not dispel facts.

[palooka]

Senior citizen properties could be Thailand’s untapped market

The government is now targetting long-term residents that are wealthy, remote working professionals, wealthy pensioners and highly-skilled professionals for foreign property ownership. With a goal of attracting 1 million of these buyers, the government expects a 1 trillion baht contribution per year from this sector.

What about the ongoing care of these people especially those single wealthy pensioners who become mentally incapable of making quality of life decisions.  Who has power of attorney, who has enduring power of attorney, what visas are they on, does 90 day reporting have to continue for the bedridden, who looks after the interests of these people to ensure they are not bullied, treated badly and made financially destitute by the unscrupulous to get that 1 trillion baht a year. God forbid it is the Govt. as they would clean you out, sell your condo to pay those "supposed" unpaid bills, cancel your visa then just stick you on a plane.

[RampantRabbit]

22 minutes ago, palooka said:

just stick you on a plane.

I  think  more like a  Rohgyna boat

[Marc26]

4 hours ago, 9S_ said:

If true then why are there many retirement homes in the US. 
 

It’s not American culture to take care of parents living in one’s own home. If that were true you wouldn’t see a prolific amount of retirement homes, not just retirement homes but retirement communities in the US. US states devoted to attracting elderly Americans due to low tax status and cheaper cost of living. Are their entire families moving with them to these retirement communities? If so they’re violating clauses embedded in these communities that prohibit younger family members from living within these same communities. Sure they can visit but they can’t live there.

You can spin your false narrative all day but the facts are the facts. And personal anecdotes do not dispel facts.

Where are you from, not America

So you don't know shit about America

 

The vast majority of seniors living in retirement homes or retirement communities are still very involved with their families.

They just have the means to not need to live with their kids

 

The ones that don't, live with their kids 

 

It's not a false narrative, and you don't have a God damn clue what you are talking about 

 

By the way, it absolutely laughable that you talk about family and you don't even bother to know the language enough to converse with your father-in-law

 

You expats are absolutely absurd people 

[9S_]

1 hour ago, Marc26 said:

Where are you from, not America

So you don't know shit about America

The vast majority of seniors living in retirement homes or retirement communities are still very involved with their families.

They just have the means to not need to live with their kids

The ones that don't, live with their kids 

It's not a false narrative, and you don't have a God damn clue what you are talking about 

By the way, it absolutely laughable that you talk about family and you don't even bother to know the language enough to converse with your father-in-law

You expats are absolutely absurd people 

I had low expectations of you buy HHHHOOOOLLLLLYYYYYYY F***
 

if you truly believe that then I have a bridge to Thailand to sell to you complimentary with 60 days volcano insurance!

Youre “personal” fees fees are just that: personal anecdotes that do not disprove and do not dispel facts. For facts are just that facts. 
 

And it’s a fact that there are more retirement homes, retirement communities, assisted living accommodations, seniors living alone, seniors with part-time/full-time caretakers than seniors living with their children (if they had any)
 

Facts are facts.