Buying a Condo in Thailand A foreigner may buy and own a condominium in Thailand . You can compare and find the most suitable one based on your needs. Broadly speaking, Thai property values doubled over the past decade. GlobalPropertyGuide.com shows that rental yields in Bangkok ranged around 5-8% in areas close to the BTS and MRT lines from 2016 to 2018. for Australian Citizens. I also knew that buying a condo meant I could rent it out in the future should I need a place with more space. attitude from many people towards buying. Car Rental: Renting a car is a great way to explore Thailand, especially when your destination is outside of Bangkok. The total cost is 2,700 Baht per year and gives me peace of mind. This means that any condo funded this way will remain the property of the Thai national, and they have the legal right to kick you out and maintain ownership even if they didn’t pay a penny of their own money for it. Under the right circumstances, buying a condo in Thailand can be a rewarding purchase and a good investment. What you need to know to land a job, stay long-term, and save $1000s on rent, money transfers, insurance, and utilites! You will get world-class medical treatment provided by experienced specialists using advanced medical technology, to perform procedures from health checkups to baby delivery, and to treat more complicated ailments such as heart disease, cancer, and bone and joint issues. The leading real estate marketplace to buy, rent and sell property in Thailand. Agents will promote your property and show potential renters around. Coming with over a hundred pieces of exclusive content, they show you how to get a job, start a business, manage your finances, and make Thailand your new home. They make money when the property is sold. the sale from the seller. I haven’t had a burst pipe or cracked window, but if it happened and I was renting, I would be happy to know it wasn’t my responsibility to pay and fix it. As it stands, Thailand’s population is still mostly rural, and given that its impending demographic implosion will increase wages, investors might prefer to go with safer bets in neighboring countries. You might be able to run into larger issue while purchasing a condo or other real estates. The 1979 'Thai Condominium Act' allows foreigners to own the freehold of up to 49% of the total unit space. Thai law only allows foreigners to buy condos in certain circumstances. Having plenty of great offers for buying a condo in Thailand, an investor may be puzzled about the documents and procedures needed to make a deal according to the government regulations. Because of this, some foreigners decide to register their condo under their Thai partner’s name. It’s possible to buy a condo or flat, but more difficult to own land. This book shows the resident of the unit and is an important document and is needed if you plan to sell the condo in the future. 1. When looking at buying real estate in Thailand, especially a new condo unit, it’s important to perform due diligence to ensure your investment will be a sound one. Five minutes from where I live is a Lumpini condo, and looking online shows that 127 units are up for rental, each of them identical in terms of size, price and decoration. Tips for buying a condo in Bangkok – In Summary. When buying a resale condo from another individual the situation is more complex as there is no fixed rule in the law on how the transfer fees and taxes are to be divided between the buyer and the seller. All Rights Reserved. Let’s be blunt here, Thailand is not some far-flung territory which offers something that no other country can compete with. Downtown area is another popular location with available premium and budget condo options with price starting from million and a half toover twenty millions baht. Areas around motorway junctions are now becoming popular in the outskirts of Bangkok when it comes to buying a property. Outside of Bangkok, the next most popular location for condos is Chonburi which includes Pattaya and Jomtien, the (in)famous beach resorts. Foreigners can purchase up to 49 per cent of the condominium units in any freehold condominium in Thailand, but are not allowed to buy landed property outright. In this section, I’ll give you information and observations based on my personal experience. To sell/tranfer the condo is more easy on company name as long as the buyer is a company too. I would estimate that you could furnish an average one bedroom apartment from one of the above shops for around 80 – 100,000 Baht. 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