Anyone ever purchased property in Thailand?

I would advise never to purchase in Thailand. I have extensive experience in Thailand and have seen many lose their money.

Foreigners cannot own land, only units may be purchased, and even then it is extremely unwise for a number of reasons such as:
– Political Instablity. There is a coup every 6 years on average. Look at the recent airport closures, red shirt problems etc. You may think this won't affect Phuket, but it will indirectly.
– King. He is 82, what will happen when he dies – further instablity i suspect
– Corruption. Thai society is extremely corrupt. Bribes happen daily in all levels of society
– Rip offs. You will be ripped off in every transaction. More so being an absent foreigner. Everything you pay will have something added on top.
– Any legal problems, courts generally favour Thais over foreigners. Police are easily bribed as a judges.

Plus there are also the usual stuff with investing overeas, including:
– You will unlikely to be able to get a loan, unless you are working in Thailand with a valid visa, even then low LVRs
– Foreign language. Can you speak enough Thai to understand the legalities. Can you read?
– Foreign currency fluctuations.
– Difficulties to sell

Why not just invest in Australia and rent a place in Thailand. Yields are lowish, so it is much cheaper to rent.