Property in Thailand IndigoGuide Thailand

Property in Thailand Buying

There are restrictions for foreigners wishing to own land, property or businesses in Thailand. It is best to take legal advice when buying real estate in Thailand. Foreigners are usually allowed to own a part share of a company with a Thai co owner and companies can purchase land and property. To live and work in Thailand there are visa requirements and work permits to sort out. Having a Thai spouse helps. Currently an alien who is not purchasing Thailand property though a company can own a unit in a condominium or a building (but not the land it is on). They can buy leaseholds up to 30 years for land and buildings.

Types of Thailand properties available to buy are: condos, houses, shops, bars, restaurants, hotels and complexes. It is possible to buy land to have housing or wooden bungalows built fairly cheaply. Buying land in popular holiday resorts for development is an option, but some of these areas have now been protected so there are limitations on development. A non refundable deposit of 10% is usually required and the balance should be paid within 30 to 60 days depending on the contract. When buying condos, find out what the maintenance charges are and make sure you get it in writing.

Check where the estate agent is getting their commission from it should be from the seller at about 3% to 6% of the selling price.