Under the right circumstances, buying a condo in Thailand can be a rewarding purchase and a good investment. If you are a foreigner interested in buying a condo in Thailand there are several issues you need to be aware of. First, foreigners may only own 49% of a single condo development.
Is it easy to buy a condo in Thailand?
The process of buying a condo in Thailand is fairly easy, and only a few requirements must be met: The property purchased must be part of the project’s 49% surface that could be owned by foreigners. This can be easily verified at the developer’s office directly with the juristic responsible.
Can foreigner buy condo in Thailand?
There are no restrictions on nationality and every foreigner who can enter Thailand legally (there are no visa-class requirements) can buy and own a condo unit within the foreign ownership quota of the condominium, but every foreigner must personally qualify for ownership under section 19 of the Condominium Act.
Is Thailand good for property investment?
Thailand properties investments
Thailand is the first touristic destination of ASEAN. It has been recognised as a dreamlike destination and it is the ideal place for a property investment. Many destinations are available and offer rental return investments, from 7% to 9% net per year.
Is it safe to buy a condo in Thailand?
Buying a condo is generally the only way foreigners are allowed to purchase real property in Thailand outright. Other options include negotiating a long term lease (up to 30 years) or buying real property using a Thai dummy corporation, a practice which, although common, is technically illegal.
How much does a condo in Thailand cost?
In terms of new condos, the starting price for a one bedroom, 22 sq meter property is around 1 million Baht (45,000 THB per meter squared).
Cost of a Thai Condo.
|Level||Price per m²|
|Mid-Range||฿70,000 – ฿89,999|
|Upper-Mid-Range||฿90,000 – ฿119,999|
|High End||฿120,000 – ฿199,999|
|Luxury||฿200,000 – ฿299,999|
Do I need a lawyer to buy a condo in Thailand?
Buying any Real Estate in Thailand be it a house or a condo requires the services of a reputable law firm. Once you have decided which real estate you are going to purchase, always consult a lawyer before signing any documents.
Can I rent out my condo in Thailand?
As long as it is not considered a business you are basically free to rent out your condo in Thailand. … Note that when you rent out your apartment you are responsible for paying land and housing tax each year, and also note that rental income is subject to personal income tax under the Thailand Revenue Code.
How much money do you need to live in Thailand for a year?
Your baseline cost of living in Thailand is $600 as a baseline minimum for Chiang Mai expats, and more like $750 to live in Bangkok—layer your Thai visa and lifestyle costs on top of these numbers.
Can I live in Thailand permanently?
Obtaining status as a Permanent Resident (PR) in Thailand has many advantages. It allows you to live permanently in Thailand, with no requirement to apply for an extension of stay. … You will also be able to apply for an extension of stay and Permanent Resident status for your non-Thai family members.
Can a foreigner buy house in Thailand?
Generally, foreigners are not allowed to directly purchase land in Thailand. … It is a commonly unknown fact that although a foreigner cannot own land in Thailand, he can own the house or structure built thereon. One only has to apply for a construction permit to build the house in his own name.
What is a good salary in Thailand?
A typical salary of 35000฿ is a comfortable wage for Thais where the average salary in Bangkok is 25000฿ a month but low compared to Western countries coming in at just over $1000 a month.