Thailand: number of foreigners applying for retirement visas doubles from 2013 to 2017

The Fin Review has highlighted the Southeast Asian country’s increasingly popularity as a retirement option, with a new $US500 million ($AU645 million) village Jin Wellbeing County targeting 20% foreigners. The ‘medical city’ being built across more than two hectares outside Bangkok will feature nearly 500 units which are currently being marketed for $US130,000, plus fees of 7,000-8,000 baht ($289 – $330) a month for meals and services. Chairman of the Thonburi Healthcare Group Boon Vasin, which owns the development, predicts it will make profits of up to 240 million baht (AUD$9.9 million) each year, plus unit sales and medical services. Another $US160 million project due to open in 2022 will offer a wellness centre and aged care services including dementia support. One operator says around half his residents are from the US, with an all-inclusive stay, not including medicine, priced around $1,500 a month. An attractive prospect for Americans who don’t have free healthcare – and for Australians looking for a cheaper retirement option.