Owning a Property in Thailand
Owning a house in Thailand is a dream of many expats. Contrary to popular belief a farang can indeed acquire a fully built house in his own name or her own name in Thailand. The only problem is that the land which is built on is not owned by the foreigner. Now until houses can levitate and move to new locations, it’s going to be a problem for owning a house 100% legally.
So how do foreigners buy houses in Thailand? There are a few options available.
1) You can set up a Thai company. If you own a Thai company company can actually own property. In order to start a Thai company though the certain things to the capital and Thai shareholders so it’s not really for the faint hearted. Knows how long this option will be available to say there is a change in government change.
I am sure though that many real estate companies will tell customers that there is no problem with this method many new time and will continue to purchase houses as they seem like such value.
2) Purchase a condo. Now this is something that I often think about. I have acquired a lot of stuff since I’ve moved to Thailand three years ago stop let me see the list goes on and on I have…
43 inch Samsung TV
Xbox 360 and accessories
pots and pans
toasters and nenders hotplates et cetera
So now with all these items I feel like I don’t really want to start again in the new country. Keep on thinking to myself why not just purchase a cheap condo somewhere like Chang Mai. I have seen condos from as little as 250,000b. Now that’s only around £5000! That’s actually cheaper than what I paid for my car two years ago.
But the thing is this condo £5000 is not can be very big may be 35 m² and can somebody really live in a place like this? It also got the problem of resale in Thailand is very difficult to sell second-hand property timetable for one do not like to live in previously owned houses or condos. Some are superstitious of ghosts others just like to save face by buying brand-new. So once you get a property are here I think it was a good I guess it would be something to pass on to a family member one day.
People also talk about the build quality Thailand. But I think you can get a good 30 years out of property as this is the length of time is on a lease in Thailand.
3) The other way of foreigners purchasing houses in Thailand is to put in their partner’s name. If you can trust your partner 100% that this could be possibility, personally I would not like to take this option heard so many bad luck stories. Many people take the view that they are buying this house or their partner and their children so that once they pass away they will be able to leave their partner something.
You are considering buying a property in Thailand please do not risk for you willing to use, this Saturday is the golden rule in Thailand as many expats will tell you.