Real Life Stories Buying Case Study: Thailand

Date Published:

18/06/2008

Oliver Way ditched London and a career in investment banking to get some sand between his toes in Thailand

Interview Robin Christie

Oliver Way

My name is Oliver Way. I'm 35 years old and live on the Thai island of Koh Phangan. I rent a bungalow on the beach at Baan Tai, and each morning I enjoy a cup of coffee gazing out across the sea to the neighbouring island of Koh Samui. My bungalow has air conditioning, cable TV and high-speed Internet and I pay just 15,000 baht (£230) a month in rent.

In 2003 I was working for an investment bank in London, living in South London. I then took a similar job in Hong Kong, where I enjoyed a fantastic expat lifestyle - I used to call Hong Kong 'the Manhattan of Asia'. I nearly bought a flat there but decided against it when I started rethinking my career. I came to the conclusion that there was more to life than working on the 50th floor of an office block, sitting behind a bank of computer screens for 11 hours a day.

When I lived in Hong Kong I used to take trips to Koh Phangan. I fell in love with the island and during my visits started looking for some land to buy - I studied construction and engineering at university and was keen to use my knowledge to develop property there. I soon realised I wouldn't be able to do that while I was working full-time, so in 2005 I waved goodbye to my comfortable lifestyle and quit my job in Hong Kong. It was a risk but that's what I wanted, a bit of the unknown. That same year I also sold my flat in London.

Before settling in Koh Phangan I travelled around Thailand, visiting Hua Hin, Phuket, Krabi and Koh Samui, ending up in Koh Phangan. I wanted to reassure myself I had chosen the right location for what I wanted to do, both from a commercial and personal sense. It's easy to see Koh Phangan's potential, just from looking at Koh Samui, although I think it will remain more relaxed and hipper than its neighbour. I sense the island is going through an identity change with new up-market, boutique resorts planned. This is attracting a new type of client, those who have deeper pockets than the party-going backpackers of the past.

I love the climate, healthy lifestyle, food and working in a beautiful environment. I have a good social life and mix with Thai, English, German, Swedish and French people. Together with a business colleague, I bought a parcel of land at Haad Salad beach, which we are selling off as six plots with the infrastructure for building villas. We also have plans to build and sell luxury villas. In addition to that I have a partnership in a property agency called Phangan Island Property.

I could never move back to the UK - you can have a much better quality of life abroad. I do miss certain things: family, friends, London's culture. I miss winter sports too, although living here has allowed me to swap snowboarding for kiteboarding. I still enjoy visiting the UK, but to live and work back there - no thanks. I quite fancy Bali next, or Vietnam.

My most memorable Thailand moment has to be the Tsunami in 2004. I was on holiday in Koh Lak, near Phuket. Strolling along the beach I noticed the sea had receded and then saw a huge wave thundering towards me. I grabbed my girlfriend and we ran for cover in our hotel, ending up on the roof as swirling water caused chaos below us. There was a moment when we thought we might not make it. It's made me feel doubly lucky to have my life in Koh Phangan.

For further information about buying property in Koh Phangan, visit www.kohphanganislandproperty.com or www.bayresidence.com.

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