{"id":2159,"date":"2021-10-11T16:54:04","date_gmt":"2021-10-11T09:54:04","guid":{"rendered":"https:\/\/www.pacificprime.co.th\/blog\/?p=2159"},"modified":"2021-10-11T16:54:04","modified_gmt":"2021-10-11T09:54:04","slug":"buying-property-in-thailand","status":"publish","type":"post","link":"https:\/\/www.pacificprime.co.th\/blog\/buying-property-in-thailand\/","title":{"rendered":"What an expat should know before buying property in Thailand"},"content":{"rendered":"

Looking to secure a home in the Land of Smiles? Over the past decade, people from across the globe have found homes in tropical Thailand. Whether it\u2019s the ever-popular luxury apartments in Bangkok or gorgeous villas in Phuket, there\u2019s a host of properties for every taste. Now that Thailand is looking to introduce new long-term residency visas<\/a>, staying here is going to get a lot easier. Here\u2019s Pacific Prime Thailand<\/a>\u2019s guide to the top things an expat should know before buying property in Thailand.<\/p>\n

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Can expats buy property in Thailand?<\/h2>\n

Though the Thai law prohibits expats from owning land, you can own most structures built on that land. The only exception to this is owning land in the name of your company, which must be up and running in Thailand. Below are several ways of buying property in Thailand as a foreigner.<\/p>\n

Buying a condo or apartment in Thailand<\/h3>\n

Do you have your eyes on a luxury property? You\u2019re not alone. Most expats looking to buy property in Thailand opt for branded residences, be it a condo or an apartment. Thailand has also recently introduced long-term residency visas, which makes it even more appealing for investors to consider purchasing a home for their long-term stay.<\/p>\n

Based on the 1979 Thai Condominium Act, a foreigner can own no more than 49% of the total unit space in any condo. The other 51% should belong to Thai citizens. As long as this ratio is maintained, the condominium unit can be fully and legally titled in the name of a foreigner. This is the most straightforward way to have permanent freehold ownership as an expat in Thailand.<\/p>\n

Buying a condotel or hotel-licensed condominium in Thailand<\/h3>\n

Looking for a sound investment opportunity? You can try your hands at purchasing a condotel. A portmanteau of \u2018condo\u2019 and \u2018hotel\u2019, it offers the services of a hotel with the legal structure of a condominium.<\/p>\n

Investors can buy individual condos and then rent these out as hotel accommodation. What\u2019s more, you may allocate a certain number of days per year for personal use of your property. For instance, your relatives may be visiting Thailand for a month. You can reserve the condotel for their use. For the rest of the time, it will be rented by the hotel.<\/p>\n

Buying a house in Thailand (e.g. house, villa, townhouse, bungalow, etc.)<\/h3>\n

\u201cLanded property\u201d refers to the actual plots of land plus the property built on top of them. Houses, villas, townhouses, and bungalows are all examples of landed property.<\/p>\n

You can purchase a landed property with any of the following methods:<\/p>\n