Connect with us

Property

Thailand’s Seniors are world’s most active Airbnb hosts and guests

The Thaiger

Published

on

Thailand’s Seniors are world’s most active Airbnb hosts and guests | The Thaiger

Seniors (hosts and guests aged 60 and older) have been a growing and integral part of the Airbnb community for many years – they are growing fast, earning important extra income, and continue to be the most-loved of any age group. They are fast growing, are booking on Airbnb in increasing numbers, and leading a new trend of multi-generation family travel beyond traditional tourist districts to experience local, authentic neighbourhoods.

Thailand’s Hospitable Senior Hosts are the Best Rated  

Globally, senior hosts are the fastest-growing of any age group of hosts on Airbnb, and there are now over 400,000 senior hosts on Airbnb worldwide. In 2017, senior hosts around the world earned over 65 billion baht, hosted over 13.5 million guest arrivals at their listings, and welcomed travellers from over 150 countries.

In Thailand, there are currently almost 1,500 senior hosts on Airbnb, representing a year-on-year increase of more than 26%. Senior hosts earned a combined total of close to 300 million baht, welcoming over 52,000 guests into their homes. They also ranked among the most loved hosts in the world — senior hosts are the best-rated host age group in Thailand with more than 83% of reviews of senior hosts receiving five stars.

Thai Experience Host, Sirichan, shared: “I first become an Airbnb Host two years ago. My home is quite unique, over 100 years old, and I wanted to share its fascinating Thai architectural legacy with visitors who wished to experience something traditionally Thai while learning to cook Thai food. Since then I have made many friendships from being a Host. It’s almost like becoming a member of my Guest’s family and I have enjoyed sharing moments of happiness together.”

Siew Kum Hong, Airbnb Regional Director, APAC says: “Known for their renowned welcoming hospitality and as avid world travellers, it’s not surprising that seniors in Thailand are aging meaningfully by embracing the home sharing community. As the travel industry continues to grow, Airbnb promotes tourism that is local, authentic, diverse, inclusive, and sustainable, creating new economic opportunities for hosts in the homes and communities where they live.”

Thailand’s Senior Guests are World’s Most Active on Airbnb 

Globally, senior guests are now the fastest-growing of any age group on Airbnb, with the number of seniors who have booked on the platform growing 66% in the past year. 

Thailand’s seniors are the world’s most active on Airbnb, topping the list of countries with the highest proportion of senior guests on Airbnb. Across the country, seniors who booked on Airbnb grew 62% in the past year alone, a figure that is expected to continuing trending up as a quarter of Thailand’s population are expected to be 65+ by 2040. 

Countries with the highest proportion of over 60s travelling on Airbnb* are:

  1. Thailand
  2. Japan
  3. United States of America
  4. United Kingdom
  5. France
  6. Australia
  7. Italy
  8. Germany

*Minimum 1000 guests

In turn, seniors around the world are flocking to Thailand for their getaways. Airbnb’s top trending destinations** in Thailand among seniors include: 

  1. Rawai, Phuket – 73.68%
  2. Kathu, Phuket – 56.78%
  3. Chiang Mai – 53.59%

**Defined as the cities with greatest YoY increase in # of bookings by senior guests for 2018 travel compared to 2017

Thai senior Winai Kharuwannapat, who uses Airbnb extensively on his travels, commented: “I have used Airbnb for more than four years already and my Airbnb Hosts have all been excellent, very considerate and take care of me like I am a member of their family. They also make some useful local recommendations. I screen Airbnb Hosts in advance by looking at reviews from previous guests and this gives me peace-of-mind and confidence when I travel. Pricing is always reasonable and the quality of accommodation good, and often Hosts assist with airport transfers which makes my travel convenient and enjoyable.”

“It’s perhaps no surprise that we’re seeing such strong growth in this demographic. Seniors are healthier and wealthier than they’ve ever been, while also tending to take more and longer trips than other age groups,” noted Greg Greeley, President of Homes, Airbnb.

Thailand Seniors Leading Multi-Generational Family Travel 

Seniors are also at the forefront of a growing trend in Airbnb bookings: multi-generational family travel, where the booking guest is a senior travelling with children or an infant. 

In the past year, multi-generational travel in Thailand noted a significant Thailand has seen 55% increase growth in multi-generational travel, with more than 40% being of which are first-time bookings. Popular travel destinations include Bangkok, Auckland, Kuala Lumpur, Bali, Sydney, Kyoto and Taipei, with an average booking value of 4,700 baht per night.

Airbnb homes often provide amenities that make them ideal for family getaways: kitchens, shared dining spaces, and individual bedrooms and bathrooms. This is an accelerating trend on Airbnb: multi-generational family travel bookings have grown 75% in the past year. And in 2018, over half of these multi-generational bookings have been by first-time bookers new to the Airbnb community.

Thailand’s Seniors are world's most active Airbnb hosts and guests | News by The Thaiger



Find more property for sale and rent across Thailand at Thaiger Property, powered by FazWaz. You can even list your property for free.

Looking to jettison some items before jetsetting away or chartering a yacht? Look no further than Thaiger Classifieds where you can find and post items, work, property and more for free. Be sure to check out YonderTours for things to do in Thailand and tours across the country.

Read more headlines, reports & breaking news in Thailand. Or catch up on your Thailand news.

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

Bangkok

Top Five things to consider if you’re buying a condo in Thailand

The Thaiger

Published

on

Top Five things to consider if you’re buying a condo in Thailand | The Thaiger

Not quite a Top Ten but some good straight-talking about buying condominiums in Thailand from Desmond Hughes from Hughes Krupica

One of the most commonly read or spoken summary of foreign ownership of property in Thailand is along the lines of

“Foreigners can buy a foreign freehold condominium in their name”.

At this sentence, many foreign investors switch off, and assume that the rest of the detail provided by the author may be legal mumbo jumbo or a thinly veiled attempt to win their business.

In fact, there is quite a lot you should know about Thai condominiums, before you start property hunting. As my clients don’t generally spend their time reading legal journals and legislation unless they have to, I have set out a mixture of legal and practical matters below without much distinction:

1. Only 49% of the Registrable Area of a condominium can be sold to foreigners.

In Bangkok, this is not likely to have any impact on you. Most of the buyers and owners of condominiums in Bangkok are Thai nationals. Even in condominiums popular with foreigners, it is an uncommon phenomena that foreigners would ever outnumber Thais as owners in a building. You might ask why the rule even exists, but there is a fear and protectionism in many Asian countries, not just Thailand, to try and keep foreigners ‘controlled’ through numbers and perecentages.

In other places – Phuket; Pattaya; Koh Samui; Chiang Mai and Hua Hin particularly you should apply caution to ensuring that the correct ‘quota’ of foreign units is available to be sold to you on a freehold basis.

2. Banks often advertise they will give finance, even potentially to foreigners, but in the end – don’t

I speak from personal experience and from that of my clients. For my first condo investment in Bangkok, I had to take out a loan with HSBC which was then taken over by a Thai bank. My loan had to be in foreign currency, because in order to buy a foreign freehold condominium – you have to send foreign currency into Thailand from overseas to generate ‘foreign exchange transaction forms’ to register the title to a foreigner at the land office. This means a lot of hoops for a bank to jump through simply to provide a mortgage. Foreigners are also viewed as flight risks by Thai banks and they do not wish to spend their time chasing foreign assets. This all means that a very high percentage of the foreign buyer market is cash based, which is good for the stability of that part of the condo market.

If you are tempted to try and take out finance applications to banks, be aware that the banks are looking for you to have some business in Thailand; perhaps to be married to a Thai national who preferable from the bank’s perspective will have some degree of wealth for self-support; and that you have other assets in Thailand with a history of using and paying off credit such as credit cards.

3. There is an oversupply of condominiums in Bangkok at the moment and rental yields are traditionally low in terms of % compared to more expensive Asian neighbors – Hong Kong and Singapore, and further afield

A condo in a prime rentable area at a high investment price can remain rentable due to its extremely useful location and amenities. If such condo has a 24 hour supermarket in the basement of the retail area and dozens of restaurants, as a condo building I am thinking of does have such amenities, then it will remain rentable for some time if the property is maintained. However, another condo at the end of the same ‘Soi’ and post building and delivery could remain unrented after many months and even if the rent is cut to 50% of the market price. Don’t just take my word for the state of the market for condo rentals in Bangkok, ask the agents.

In addition to this, the authorities are taking a closer eye at tax declarations and ‘cracking down’ on undeclared taxes – not just personal income tax, but the ‘business tax’ of 12.5% for renting units out. This all adds to the costs of investing and renting in a condo, and you must calculate this into your budget and forecasts to avoid living in fantasy land about dream returns.

3. You won’t have any say in how the condominium is managed

Unless you buy up over half of the voting rights attached to units in the entire building, you will be a minority voice on issues like the raising of the common area fees; use of the ‘sinking fund’ – the fund to make capital repairs, changes to the rules and regulations and general maintenance decisions, even of some significance. Don’t imagine standing up at an co-owners meeting voicing your opinions and somehow making headway in ‘changing’ the direction of the management of a building. The way in which a building is managed boils down to how the developer has structured ownership, whether the developer retains many units and a large % of the voting rights or not, and whether the developer plans to self-manage or outsource management of the asset to a reputable or not-so-reputable management company.

If you don’t check the management plan then I can reference lots of analogous situations where you would take more care – if you buy a car, you should think if there are any decent repair centres nearby and at a reasonable price – Ferraris in Phuket aren’t currently easy to maintain, I would imagine, as a non-Ferrari owner and observer of the state and condition of the roads in that Province. You also wouldn’t, I hope, buy a smart phone without knowing you could have the phone service, fixed and various parts replaced on reasonably short notice. As a property is a far higher value of investment, a lot of investigation into the management plan is necessary.

4. Don’t Believe the Hype – It’s a Sequel

False Media, we don’t need it do we? If you see a glossy marketing brochure and are told that the developer ‘has to deliver on its promises by law’ – be wary. To take one example, I bought a condo under which a ‘private wine cellar area with personal secure wine bottle storage space’ would be provided to every buyer. Amazingly, without any shame at all, the famous developer constructed an unchilled cheap wooden cabinet with glass doors, no locks next to 4 sofa chairs in the open space corridor between a swimming pool and the gym. If you wanted to fry an egg on the ‘wine cabinet’ then that was highly likely to have been possible.

These kind of things are not all ‘horror stories’ – I actually got a decent condo notwithstanding the missing items. However, you will often have to compromise when in more highly regulated and supervised jurisdictions, you would not. Compromise is a very common work in Thai society and it applies to business and consumer purchases too.

5. Set up your ownership for easy re-sale

If you are buying a condo as a ‘foreigner’ and paying cash, then you can buy your condo through a foreign company, and sell the company later. This is only worth doing if the cost of setting up and maintaining the foreign company is reasonable and the company you set up is ‘saleable’ and attractive to others. You should not carry out this kind of structuring to ‘avoid tax’. However, you can set up this kind of structure, pay tax on the purchase, and subsequently deal with your company as you see fit, provided a buyer is willing to buy it. If such a company receives rental income, then even if it is foreign it is till liable to taxes as the use of the ‘immoveable property’ for generating revenue isn’t deemed to be ‘outside’ of Thailand, and that applies even if the company tries to contract for and receive the rent outside of Thailand.

Desmond Hughes has operated and owned 2 law firms in Asia in 14 years spanning Thailand; Vietnam; Indonesia with clients in all of Asia and other markets investing inwards into the region with his existing firm Hughes Krupica possessing a large market shares in its fields of expertise. 

Continue Reading

Phang Nga

Phuket’s hotel and property players look north

Bill Barnett

Published

on

Phuket’s hotel and property players look north | The Thaiger

by Bill Barnett of c9hotelworks.com

One of Greater Phuket’s real estate and hotel market’s that has a decided buzz of late is the area north of Phuket over the Sarasin bridge in Phang Nga.

In Natai Beach, the entry of the Baba Beach Club and nearby Akyra has created renewed visibility for the broad West Coast stretch of white sand beach, extending north beyond Phuket.

Two upscale hotels are in the development phase in the vicinity, with one being flagged to an international hotel operator.

Up at the 1,000 plus rai Thai Muang mega-project, movement is once again underway, as is a nearby massive Japanese-led mixed-use project including a golf course.

Land values are currently running amuck in the Koh Kloi area where the AOT (Airports of Thailand) has reportedly acquired land for an upcoming Phang Nga airport which will provide Phuket with a second gateway alternative.

Premium land transactions are taking place, with the most notable being the recent trade of the former oceanfront site in Bodan that was to be at various stages first a Raffles and later a Ritz-Carlton Reserve.

Looking at Phuket’s light-rail initiative, one knock-on effect will be the eventual linkage between the island and larger connection to a broader rail terminus in Koh Kloi. This will likely spur real estate speculators to acquire peripheral locations.

As Phang Nga’s West Coast four land highway expansion moves forward to Khao Lak and beyond, Phuket’s Northern neighbor is seeing a renewed push in its tourism, property and infrastructure.

Continue Reading

Phuket

Ocean Property launch first Phuket development

The Thaiger

Published

on

Ocean Property launch first Phuket development | The Thaiger

Thai real estate developer, Ocean Property, are continuing to expand outside of the capital with the launch of their first real estate development in Phuket – a townhome and modern commercial home office project “Ocean Town Muang-Ratsada”.

Located in the heart of Phuket providing owners with easy access to all major infrastructure and island facilities, prices start from just 2.69 million baht.

With property interests in Bangkok, Pattaya and Khon Kaen already, Ocean Property recognises central government’s considerable investment in the island’s infrastructure and Phuket’s strong tourism fundamentals, and are investing in Phuket confident of residential demand on the island.

“Ocean Property is confident in Phuket’s property market. We see a trend of future growth and market expansion on the back of the island’s ongoing development and tourism industry growth. Our research has identified a number of buyer groups, for example, civil servants, private-sector employees and entrepreneurs, that we believe will be interested in our Ocean Town Muang-Ratsada project,” said Mr. Napong Paripontpochanapisuti, Acting Managing Director of Ocean Property Company.

“Government investment in the island is set to continue with planned expansion of the island’s transportation network such as enlarging Phuket’s international airport as well as a Light Rail Transit system from Phang Nga to the south of Phuket.”

Ocean Town Muang-Ratsada is a quality townhome and modern commercial home office development located on more than 20-rai in Phuket City and with a total development value of 700 million baht.

The project comprises 187 units including two types of two-storey townhomes: “Tide” (116 units) and “Shallow” (55 units). Tide’s architectural plan offers four bedrooms, three bathrooms and two parking spaces with a 5.7-metre wide frontage.

Sizes start from 20 square-wah with a usable area of 155 sq.m. Shallow’s architectural plan offers three bedrooms, two bathrooms and one parking space, also with a 5.7 metre wide frontage, and sizes start from 20 square-wah with a usable area of 115 sq.m.

In addition, there are 16, three-storey commercial home office buildings known as “Crest”.

All have a 5-metre frontage, sizes start from 23.80 square-wah and have usable area of 195 sq.m. The townhome prices start from 2.69 million baht and the commercial home office’s from 4.89 million baht.

The properties use warm and relaxing colour tones together with quality materials, and include home innovations that help reduce the use of electric lighting through smart roofing systems which allow more natural light inside (Smart Touch Tech Roof and Sky Light Roof), the latest LED Panels which use considerably less electricity than more traditional bulbs, as well as new tech glass which allows 75% of natural light through and only 49% of the heat, helping to keep the property cooler.

There are additional green areas around the development and security onsite includes CCTVs, a key card system, Smart Home Security System and 24-hour guard team, giving resident’s peace of mind.

Ocean Town Muang-Ratsada is located on Srisuthat Road in Phuket City. The area offers convenient travel to schools, universities, government offices, hospitals and shopping centres. Construction has started and is expected to be completed in the third quarter of 2020 with show homes to be open for visiting this coming May.

Units at Ocean Town Muang-Ratsada are available for reservation and purchase.

Register now at www.oceanproperty.co.th for more information.

Ocean Property launch first Phuket development | News by The Thaiger Ocean Property launch first Phuket development | News by The Thaiger

Continue Reading

The Thaiger Newsletter

Keep up with all the day’s news. Subscribe here.

The latest news and information from Thailand.

* indicates required
ธนาธร แสดงจุดยืน พรรค ส.ส.อันดับหนึ่งต้องเป็นแกนนำตั้งรัฐบาล | The Thaiger
เลือกตั้ง 626 hours ago

ธนาธร แสดงจุดยืน พรรค ส.ส.อันดับหนึ่งต้องเป็นแกนนำตั้งรัฐบาล

เพื่อไทย ยืน 1 กวาด 137 ส.ส. ประกาศเดินหน้าจัดตั้งรัฐบาล | The Thaiger
เลือกตั้ง 6212 hours ago

เพื่อไทย ยืน 1 กวาด 137 ส.ส. ประกาศเดินหน้าจัดตั้งรัฐบาล

สรุปคำแถลงของ กกต. #เลือกตั้ง62 ส.ส. อย่างไม่เป็นทางการ [Live] | The Thaiger
เลือกตั้ง 6213 hours ago

สรุปคำแถลงของ กกต. #เลือกตั้ง62 ส.ส. อย่างไม่เป็นทางการ [Live]

เลือกตั้ง62 : เกาะติดรายงานสดหลังปิดหีบเลือกตั้ง [Live] | The Thaiger
เลือกตั้ง 621 day ago

เลือกตั้ง62 : เกาะติดรายงานสดหลังปิดหีบเลือกตั้ง [Live]

PABUK a tropical storm, not a typhoon | The Thaiger
Video & Podcasts3 months ago

PABUK a tropical storm, not a typhoon

Single Use Plastics. The BIG issue for Thai Environment Day. | The Thaiger
Video & Podcasts4 months ago

Single Use Plastics. The BIG issue for Thai Environment Day.

Annissa Flynn – Pro women’s World Flowboarding Champion | The Thaiger
Bangkok4 months ago

Annissa Flynn – Pro women’s World Flowboarding Champion

TEST DRIVE GOOLGE TRANSLATE ทดสอบไดรฟ์ GOOGLE TRANSLATE | The Thaiger
Video & Podcasts4 months ago

TEST DRIVE GOOLGE TRANSLATE ทดสอบไดรฟ์ GOOGLE TRANSLATE

Phuket’s Tsuanmi Alert System | The Thaiger
Video & Podcasts4 months ago

Phuket’s Tsuanmi Alert System

Canadians will be able to use consular services at the Australian Consulate in Phuket | The Thaiger
News6 months ago

Canadians will be able to use consular services at the Australian Consulate in Phuket

NO Plastic Bag! @ Central Phuket | The Thaiger
Other News7 months ago

NO Plastic Bag! @ Central Phuket

Why did so many Chinese passengers die in the boat sinking? | The Thaiger
News7 months ago

Why did so many Chinese passengers die in the boat sinking?

Blue Tree Phuket, a world-class HUGE waterpark | The Thaiger
Phuket7 months ago

Blue Tree Phuket, a world-class HUGE waterpark

The new Central Phuket: Interview with Central Pattana’s Pakorn Partanapat | The Thaiger
Video & Podcasts7 months ago

The new Central Phuket: Interview with Central Pattana’s Pakorn Partanapat

The battle of Phuket’s boat shows | The Thaiger
Phuket7 months ago

The battle of Phuket’s boat shows

Trending