Whether you’re a college student looking to move for school purposes, a business person who needs to find a permanent residence in Thailand, or a retiree who would like to purchase a new vacation home, there are numerous options for buying property in Thailand. There are three main types of properties in Thailand, and then there are sub-types beneath those. In order to understand them better and make the right purchasing decision for your needs, read further.
Purchasing a condominium in Thailand is a simple affair for a foreigner. Thailand condominium developments are growing rapidly in cities such as Phuket, Bangkok, and Pattaya. A large number of foreigners who decide to purchase some form of property in Thailand consider purchasing condominiums first. Here are the benefits of owning a condo in Thailand.
Foreign purchasers are able to own condominiums in their names fully. The purchase is issued with a title deed that is similar to a strata title. An owner can use the title deed as collateral for loans in Thailand. Maintenance fees at condominiums in Thailand are rather low, and they are much more affordable than houses with land. They are easier to rent out because of their general size and location, and resale is much easier and more straightforward compared to trying to sell land or a house.
House or Villa
Many decide to acquire Thailand property for residential purposes, such as those who need to work in Thailand for a long period of time or those who would like to retire to Thailand, or as an investment in an economy that is known for being dynamic and robust.
The benefits of purchasing a house in Thailand include a larger space for living, a greater amount of privacy, and full control over the maintenance of the home. In addition, when an owner decides to sell a home in Thailand, they will enjoy a nice return.
While purchasing a home in Thailand is not as easy as purchasing a condominium, it’s well worth it! Some buyers will opt to register a Thai company in order to hold the ownership of their property, and once the company is registered they use that to hold the land. However, you can lease a property instead.
Thai real estate is easily separated into three different categories. These are condominiums, houses, and land. Thailand does not use the Western measurements of land, such as acres. Use a calculator in order to convert to the Rai square meters when you want to know the size of the land you’re thinking about purchasing.
There are different ways a property owner can own land. One way is through a leasehold villa, which is easy and straightforward. Foreigners looking to invest in properties can obtain the full interest on the lease for the registered period. This is different from purchasing through a Thailand limited company, where there are several shareholders who might have interests that are different from yours.
No matter what type of property you’re interested in buying, a real estate professional in Thailand can help you.