How to buy property in Thailand?

Property investment is one of the best things to do in 2021. You can see your money doubled or tripled within a couple of years. However, you must also know how to buy property in Thailand without getting into any legal trouble. 

Freehold Condominiums

Due to the strict rules and regulations around foreigners buying a property in Thailand, the most common real-estate investment is found in the form of freehold condominiums. According to Thai property rules, a foreigner can only buy a condominium in Thailand if at least 51% of the condominium building is Thai owned.  This is the most straightforward and hassle-free way of owning property in Thailand. As long as this fraction rule is maintained in a condominium building, a foreigner can have permanent ownership of the condominium unit he/she invests in. In case of such a purchase, the owner will also have “fractional interest” in the building and all of its common areas. This means that apart from having their share of the vote in the owners association, the owner will also be owning little parts of parking lots, recreational spaces, the swimming pool, and even the reception/lounge. 

Hotel-licensed Condominiums (Condotels) 

Condotels are a rather new trend that has taken the real estate market by storm. A condotel brings together the legal structure of a condominium and the services of a luxury hotel. So in a condotel, the owner and the partner hotel will have an agreement where the owner is allocated a certain number of days (2-4 weeks) to use their unit every year. Once the owner has exhausted the number of days use, the hotel will rent out the units to guests. With the growth of AirBnbs, condotels prove to be a very efficient way of buying a property in Thailand. 

Branded Residence

A select number of all the houses for sale in Thailand are actually luxury properties. These properties are actually branded condominiums that are developed by renowned hotel chains. Borrowing designs from world-renowned architects, delivering top-notch fixtures and finishes and flaunting lavish interiors, branded residences appeal to high net worth investors. Given that these branded residences are condominium buildings, the 51% Thai-ownership rule will be maintained. 

Buy through a Thai Limited Company 

While the laws governing the ownership of a condominium in Thailand are quite favourable to foreigners, one can also opt for buying property by setting up a Thai Limited Company that can own the land on their behalf. Purchasing through a Thai Limited Company is ideal for inheritance planning because companies don’t die. This makes a succession of property seamless because the person who controls the company shares effectively owns the condo. However, while setting up the company, keep in mind that the company’s 51% of the shares should be Thai owned except for in the case of US citizens. (Both the countries have signed a treaty that permits US citizens to have full ownership of a Thai Limited Company). 

If you want to get your hands over the best houses for sale in Thailand before anyone does, visit Thailand Property. You will get the best deals on buying, renting or selling properties in Thailand. 

Buying Real Estate In Thailand As A Foreigner

Whenever you buy real estate in Thailand as someone from Thailand and as a foreigner there are a lot of differences between the buying tactics. Which means when you are buying real estate as someone from Thailand you would have to submit different documents and follow a easy procedure, while on the other hand being a foreigner you would have to follow a completely different procedure for buying real estate. 

In case if you are a foreigner and trying to buy real estate in Thailand, then this post is specially designed for you. As here we are going to have a look at a number of things you should be knowing before finalizing the real estate deal as a foreigner. 

Things you need to know about while buying real estate in Thailand as a foreigner: 

Here is the list of things you should keep in mind whenever you are going to buy real estate in Thailand as a foreigner: 

• Owning a land in Thailand: 

The first and most important thing you need to keep in your mind is that you would not be able to own real estate in Thailand being a foreigner. You can buy the land in partnership, which should be previously owned by someone who was born or living in Thailand for a number of years. 

You would be able to buy land in partnership such as 50-50, as your owner agrees to. Also that land should be used for business purposes mostly, you can build a hotel and the profit percentage will be shared with the owner too. 

• Deal with companies: 

There are a lot of apartment producing companies in Thailand who can provide you flat and apartments. But under this case you need to keep in mind one thing and that is the price you will pay as a foreigner for a flat or apartment would be really high. 

In case if you are here for making a high-end deal then only you should be investing in this idea. 

• Advance installment: 

Let us assume you find the perfect flat or apartment for yourself but that’s not the end of the deal. As you would have to submit advance installments with the help of which you can finalize the deal. 

Moreover if you are having a good amount of advance installment then only you would be able to carry forward your deal. Otherwise it would be shifted to someone else because of higher demand. 

• No taxes: 

It is said that those foreigners who are owning Condo in Thailand or other such properties they take advantage of zero taxes feature. Along with that there are many more such advantages, but this is the best one. 

• Inheritance: 

In case if you are planning to give your Thailand based property to your kids after you, then let us tell you that it is a very complicated task and your kids would have to provide a thorough test that if they are able to qualify for owning a land in Thailand or not.

Things to Consider Before Investing in Real Estate In Thailand

The market of real estate in Thailand is flourishing with every passing day. Numerous commercial investors, as well as general people, are looking for suitable real estates for various purposes. Regardless of what type of property one is looking for, residential, commercial or industrial, one should consider certain factors before investing their money. Buying a property for a living is a lifetime decision, therefore, the property should be perfect in all ways in providing comfort and convenience.

But due to lack of proper inspection and plan, numerous property buyers regret their decision. Buying a property is not a piece of cake. The whole process includes complicated procedures and schedules. The task of investing in real estate should be done with the ultimate strategy and plan. Little failure in the procedure can make one start again from the scratch making the task more lengthy and tiresome. If you are doing it for the first time, make sure you are taking help from experts or experienced friends who have previously invested in real estate. To avoid delays and hassle in your property buying mission, Here are some important facts to recheck before buying real estate Thailand–

• Location: Make sure the property you are thinking to buy is ideally located. The location of your property must make your life-effort easier especially in finding pharma stores, access to nearby markets/ healthcare centres, availability of transportation, convenience to the city centre or workplace or school etc. If you buy a property that is not an ideal location, this will add hardship to your life, especially during the time of emergency.

• Features of The Property: When you buy a property, make sure you review the property physically by contacting the property seller or agent. Do ask about property age and the current market value of the land on which the property is situated. To make sure that the amount of money you are investing worth the property value, do inspect the condition of the house, accommodation features and general amenities like a garage, water supply, electricity supply and many more. If you are having a big family, make sure to reconsider the size of the property, number of rooms and bathrooms. If you are planning to buy a pre-furnished home, make sure you list down all needs and requirements to find the most ideal property.

• Keep your legal documents ready: When you are planning to invest in real estate in Thailand, make sure you have completed all the legal procedures and paperwork beforehand to avoid the last-minute hassle. Since a minute mistake in these legal procedures can cost a heavy price, it is highly suggested to hire a real estate lawyer who has years of knowledge in handling the legal side of property purchasing. The attorney will serve as your legal advisor and he/she knows all the potential blunder that may come in the way of your property purchasing tasks. You will get effective solutions to overcome those obstacles and proceed with your property buying.

• Do your homework: Before finalizing a property to invest in, it is suggested to make a list of preferred properties and compare each of them to evaluate the best one possible. The easiest way to make a property list of real estate in Thailand is taking the help of an online MLS listing. In this listing, you can filter out the best property available in Thailand on the parameters of the price range, location, type of accommodation and many more. Again, do not forget to know about the former use of the property and try to contact the previous family who has lived there to fetch important information.

• Know Your Budget: Before starting your property hunting quest, it is very important to plan a rational budget. Make sure you have included all possible expenses including the property value, hidden charges, legal expenses, the commission of property agents and the fees of your property attorney. It is very important to keep a flexible budget in case of an emergency expense. If you’re opting for a loan, make sure you’re taking mortgage approval on time.

These are basic yet very crucial aspects to consider before investing in real estate in Thailand. You can get your dream property now easily by visiting the online MLS listing of reliable real estate companies. All you have to do is visit the online portal, register yourself as a property buyer and apply relevant filtering to get the best property listing. This way you can save time, effort and money. You don’t have to spend in the commission of property agents and wait for them to bring you the ideal property choice. With help of an online MLS listing, you can get the ideal property right away within your budget. To know more visit the website- https://www.thailand-property.net/

Get the property for sale Thailand and choose your best deal!

Introduction

Buying properties for sale is always fun because one gets to avail of their desired hand in the unimaginable cost. One likes to invest in property because of the huge interest in the future. Most foreigners are thinking of opting for property in Thailand because one gets to add on with a beautiful place at a cost-effective rate.

Is investment in Thailand property a good option for you?

 yes, people have been booking their land in Thailand as there are n number of options to choose from. In Thailand, you can find a number of investors worldwide and it is because people have been keeping to avail of land in such a region. With no doubt, the property in Thailand provides huge rewards when one thing from the strategic point. Property for sale Thailand is now offering the best support to the buyers so that they can buy the desired property at a low cost without taking much time. 

How much does the property in Thailand cost?

The cost of the property depends upon different criteria like:

 1. The location where the property is placed. Different places have different costs of the property and depending upon that factor one can make the right choice.

2. The design or the furnished property help in making a big difference when it comes to choosing a property. 

Ending note

One should know that buying a property at a great cost in Thailand is possible but keep a note that complete investigation is important. All the individuals should make sure that they contact the real estate and collect all the required information regarding all the properties. So, compare and make the ideal choice after knowing all the details about the property.