Should I buy a condo in Thailand?

Is it worth buying a condo in Thailand?

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.

Can foreigners buy a condo in Thailand?

Process of Buying a Condo in Thailand

There is no prohibition on nationality, and any foreigner legally admitted to entering Thai territory can purchase a condominium which is generally a freehold property.

Can I live in Thailand if I buy a condo?

Thailand is giving condo buyers five-year residency visas for a THB10 million (USD 330,200) investment. … Your investment will give you to live in Thailand for 1 year and to renew every year for a total of five years. You will no longer have to make a dash to the border to renew your visa outside of the country.

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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.

How much are condo fees in Thailand?

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
Upper-Mid-Range ฿90,000 – ฿119,999
High End ฿120,000 – ฿199,999
Luxury ฿200,000 – ฿299,999
Super Luxury Above ฿300,000

Can you own a condo unit forever?

The law does not provide that condominium units are strictly just good for fifty years. The law states that aside from being more than fifty years old, it must be obsolete and uneconomical plus the fact that majority of the unit owners are against its repair and restoration.

Can foreigners buy property in Thailand 2021?

Yes, Foreigners Buying Property in Thailand can take freehold ownership of a structure in Thailand, however foreigners are not permitted to own land in Thailand. Foreigners may enter into a long lease agreement, commonly known as “Leasehold” to secure the land.

How much is property tax in Thailand?

It is to be stated that there is no general annual property tax in Thailand, but if individual owners rent out or put their property to commercial use, housing and rent tax is imposed at the rate of 12.5% yearly.

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How much money do I need to move to Thailand?

You should plan to live in Thailand on a budget of at least $1,500 per month, with $2,000 being a more reasonable benchmark. This will allow you to live comfortably without breaking the bank. You could potentially live a lot cheaper, as low as $1,000 a month, but you would probably have a difficult time.

Can foreigners own 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.

How do I finance a condo in Thailand?

Foreigners can get a property loan in Thailand if they are qualified under the strict conditions of financial institutions. UOB and ICBC are the best options for foreign investors to finance their condominium purchase in Thailand. It does not matter if the investor live in Thailand or not.

What is it like to live in Thailand as an expat?

There are lots of reasons why Thailand is the most popular Asia Pacific destination for expats. The tropical climate, endless beaches, bustling cities, friendly people, cheap cost of living and laid-back approach to life are among the factors that make Thailand a favourite place for expats to live or retire.

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.

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What is the best investment in Thailand?

Thailand’s Top Business and Investment Opportunities

  • Import and export company. …
  • Real Estate Company. …
  • IT Consulting Business. …
  • Translation Services. …
  • Catering Company. …
  • Digital marketing. …
  • Graphic design agency. …
  • Automobile rental business.

Should you buy a condo in Bangkok?

The reason why most foreign nationals consider buying condos in Thailand, particularly in Bangkok, is because the selling price for a condo for sale in Bangkok, or even a luxury condo in Bangkok and other cities and provinces in Thailand are generally more affordable than in many other countries, especially as there …