The most common property-purchasing method for foreigners in Thailand is to sign a condo freehold agreement. While buying a condo may not be as appealing as a house to some (to others, buying a condo is ideal!), it is still often the direction foreigners take because it allows them the option of eventually reselling.
What's the difference between Freehold and Leasehold ownership in Thailand? Freehold Ownership: As simply as possible, if you are buying a property and it is a Freehold Title, you will need to form a Company. The Company will hold the Title to the property, and you will be the Director of the company with complete control.
Foreign Buyers Flock to Thailand for Condos. 100% Freehold Property Available. The ability to buy a 100% freehold property in Thailand makes condominiums a popular choice among foreign buyers. This has led to an influx in the number of developments being built, particularly in Bangkok, in recent years.
Freehold is defined as a regime of property tenure wherein a person is given complete dominion over a particular property. As opposed to Leasehold, rights conferred in favor of an owner are more comprehensive and established. In Freehold, the owner is given more than the right to possess the property.
While unlike the UK and Europe freehold in Thailand generally offers the owner rights over the building (but not the land), purchasing a freehold apartment in Thailand gives the buyer security of tenure and the full rights of ownership over the property.
Note: Before purchasing property in Thailand make sure you have a good lawyer. See lawyers below. Purchasing a Condominium Under the Condominium Act (1979) foreigners can own the freehold of 49% of the total unit space in any legally registered condominium building.
In terms of Property types for sale, 1 and 2 bedroom Property units generate the highest ROI for investors. Phuket is the most popular holiday destination in Thailand with more then 8 million visitors each year, and this number is continuously going up.
The real estate market in Thailand is also tempering for other investors worldwide, as Thailand is a top holiday destination with over 35 million visitors each year. Beaches, shopping malls, and entertainment centers are aplenty for those who buy property in Thailand; as are international schools, hospitals and universities.
Thailand Property As foreigners cannot claim ownership over land as freehold, the preferred method of acquiring land is through leasehold. A foreigner can safely acquire the right to use the land and register the right for a maximum lease term of 30-year lease at the Land Department.
Buying a leasehold condominium in Thailand Tourist resort condos are often sold leasehold and freehold to foreigners. THE UNITS IN A CONDOMINIUM registered under the Thailand Condominium Act can be foreign owned for up to 49% of the units in floor space. A higher percentage of foreign ownership in a condo building is not allowed under the 2008 Condominium Act and at least 51% of a condo ...