2007-03-25 05:41:01 · 3 answers · asked by Bright 6 in Travel ➔ Asia Pacific ➔ Thailand
Yes, foreigners are allowed to own condos. I would visit the properties first and see who your neighbors are. Especially at night when most people are at home and see how noisy they are and how good the walls are. Buy new or fairly new, most lendors ONLY lend up to 10 years on real estate. The reason, most buildings last that long without major rehab. Why? Weather mostly, humidity, proximity to the ocean, and heat tears at the paint and wood.
Find a reputable real estate agent. If you are an american, you are familiar with CB real estate or Coldwell Banker real estate, they do handle mostly high end real estate for Bangkok and Phuket. Otherwise find a lawyer to make sure the paperwork is handled properly and there is no double selling and the paperwork is filed properly.
http://www.cbre.co.th/cbrecontent/homepage.htm
www.thaiwebsites.com has a listing of real estate agents and properties in major areas of Thailand.
If you travel frequently to Thailand. Stay in the condo complex and see how you like it. Rent it for a week or a few days. Try a few of them. Check out what is around them too. Stores, food, and transportation. Closer to the skytrain or subway the more expensive it will be. If you plan on owning a car and a driver then, it will not matter.
If you are thinking Pattaya, www.a2zpattaya.com has a comprehensive listing of all the agents in Pattaya area. Just keep in mind they are all out to make a buck. Look for one to serve your needs.
Though I have not done it yet. This is what I have been advised by friends who live there. And what I have observed.
Good luck.
2007-03-25 09:36:51 · answer #1 · answered by gbdelta1954 6 · 0⤊ 0⤋
The answer for the most part is yes. Under the condominium act of 1979 condominium title is to part of a building or buildings with multiple owners, and a fractional interest in the land, and other common assets, such as swimming pool and common parts of the building. The title will state the floor area of the private apartment, the ground area of the common land and the percentage interest which that apartment has in the common property. This percentage also represents the value of the voting interest in the condominium company or owners association. For foreigners to be eligible to purchase a condominium in Thailand they must present proof to the Land Department that the funds have been remitted from overseas in foreign currency.
As with any other major purchase by very careful and do your home work when buying, especially one that is not built yet. Have your lawyer check the developer's financial background, assets, loans, debts, etc before handing over money. And insure that the deposit does not go directly to the developer have an escrow account for the deposit in the name of someone both you and the developer trust i.e. a lawyer. Good look and have fun in Bangkok
2007-03-25 21:26:01 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes you can. Just make sure you engage a good lawyer to sort out the legal issues for you to own one.
2007-03-25 13:14:28 · answer #3 · answered by peanutz 7 · 0⤊ 0⤋