How To Buy Property in Thailand
/Buying Property in Thailand
Published Date : May 29, 2010
Thailand is one of the most beautiful countries in the entire world. Every year, millions of people venture to this nation in order to take advantage of the amazing beaches and stunning landscapes. Some people love Thailand so much that they begin to look for ways to stay in Thailand as residents, rather than tourists. When this is a consideration in your life, you need to begin thinking about buying property in Thailand.
However, it is not always so simple to do this because under Thai law, foreigners are not allowed to buy property within the country. So, as a foreigner, what are your options for owning a property in Thailand that you can go to and stay at for months at a time? Many travellers prefer this option to staying in a hotel, so here is how you can make it happen.
1. The first thing you should do is actually go out to Thailand. It is of no use to buy land in Thailand if you are not there. This is why you should fly out to Thailand and take a look at the real estate market. When you decide to fly out there, make sure you take time to meet with real estate agents so that you can learn what you need to do in order to buy land in this stunning country.
2. Once you have made appointments with real estate agents, ask them questions about the land that you are going to be looking at and what amenities these bits of land offer you. You want to know about water quality, air quality, air conditioning, electricity, type of areas, beach access and more.
3. In Thailand, if you are a foreigner you can only buy land if you qualify in two areas. The first is if you enter into a long-term lease that ensures you will not just buy property and then sell it soon after. The second is that you form a company with a Thai person. It is best to speak with a lawyer about this to ensure that you do what is required with purchasing property in Thailand.
4. You will want to pick a few properties that you are going to check out and visit. If you are having a home built, then you need to have a surveyor check out the property and that will cost you a bit more, but if you are just looking at a home you can go along with the real estate agent.
5. If you are building on land, it is important to understand land titles. In Thailand, there are five types of land titles, but foreigners only use three types, which are Chanote, Nor Sor Sam Gor and Nor So Sam. Of all of these, you will want to go with Chanote because it gives full land rights and the property boundaries are clearly defined. Again, talk with your lawyer before proceeding.
Thailand is a beautiful country that has many wonderful people in it, beautiful countryside, and affordable prices. If you are going to buy property in Thailand, ensure you follow these tips.
