Mortgage-free flat in Spain? Why not move to Thailand
Owning a paid-off flat in Spain and not moving to Thailand is an economic mistake. We look at the numbers and the psychological barriers that stop people from doing it.
English · Original discussion in Spanish · Published
The intra-entrepreneur homeowner paradox
Owning a paid-off flat in Madrid or Barcelona while still struggling in the private sector to pay the bills makes little economic sense. With an average rent of 1,350 euros a month and a cost of living in Thailand of 800 euros, the gap amounts to more than 500 euros in monthly savings. Yet the migratory flow of thirty-somethings who own property is minimal. What is holding these people back?
The math that does work
For a single person with no ties, renting out their flat in Spain for 1,350 euros and moving to Chiang Mai or Bali allows them to live on 800 euros a month. If they also earn 1,850 euros from a remote job with few hours, the margin is substantial: 2,400 euros net versus the 2,000-2,500 many office workers make. On paper, the equation is flawless.
The barriers nobody calculates
The first is antiestéticar of renting: under Spain's current housing law, a problematic tenant or a squatter can leave the owner 18 months without payment plus legal costs. The second is the personal factor: most men aged 30-40 with a paid-off flat are in a relationship, have children or a mortgage on another property. Third, attachment to the first world: after a few months of tax haven and beaches, the humidity, the jungle and the distance eventually wear you down. Southeast Asia is enjoyable, but not livable long term without giving up Western healthcare and safety.
The profile that actually leaves
Those who execute the plan are twenty-somethings with no property or burdens, in fully remote jobs. For the thirty-something with a paid-off flat, the move is more profitable but also riskier. In the end, the psychological factor weighs more than the economic gap: the average Spaniard prefers known stability to a golden exile.
Renting out the flat and living in a village in the Spanish mountains offers a similar risk profile without leaving the country. The numbers speak for themselves, but the decision remains emotional.
Related discussions in the forum
Owning a paid-off flat in Madrid or Barcelona while still struggling in the private sector to pay the bills makes little economic sense. With an average rent of 1,350 euros a month and a cost of living in Thailand of 800 euros, the gap amounts to more than 500 euros in monthly savings. Yet the migratory flow of thirty-somethings who own property is minimal. What is holding these people back?
The math that does work
For a single person with no ties, renting out their flat in Spain for 1,350 euros and moving to Chiang Mai or Bali allows them to live on 800 euros a month. If they also earn 1,850 euros from a remote job with few hours, the margin is substantial: 2,400 euros net versus the 2,000-2,500 many office workers make. On paper, the equation is flawless.
The barriers nobody calculates
The first is antiestéticar of renting: under Spain's current housing law, a problematic tenant or a squatter can leave the owner 18 months without payment plus legal costs. The second is the personal factor: most men aged 30-40 with a paid-off flat are in a relationship, have children or a mortgage on another property. Third, attachment to the first world: after a few months of tax haven and beaches, the humidity, the jungle and the distance eventually wear you down. Southeast Asia is enjoyable, but not livable long term without giving up Western healthcare and safety.
The profile that actually leaves
Those who execute the plan are twenty-somethings with no property or burdens, in fully remote jobs. For the thirty-something with a paid-off flat, the move is more profitable but also riskier. In the end, the psychological factor weighs more than the economic gap: the average Spaniard prefers known stability to a golden exile.
Renting out the flat and living in a village in the Spanish mountains offers a similar risk profile without leaving the country. The numbers speak for themselves, but the decision remains emotional.
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Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (20 replies).
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