BUY CONDO IN THAILAND AS FOREIGNER
Whitebird Estate – Professional real estate agency in Bangkok – has long experience in Thailand real estate market. Our management has worked in the industry for over 15 years helping Thai property developers, condo and house owners as well as local and international clients.
We understand that to buy condo as foreigner in Thailand can be a complex endeavor, which is why we have dedicated ourselves to providing you with comprehensive information and personalized solutions. Let us walk you through the essential considerations and critical steps, helping you to make informed decisions and capitalize on the promising opportunities Thailand’s real estate sector has to offer.
Buy condo in Bangkok
Let’s explore the key factors that will shape your successful condo investment in Thailand:
The Condominium Act of Thailand
Thailand’s Condominium Act allows foreign investors to own up to 49% of the total floor area in a condominium building, making it an attractive opportunity for international buyers.
In Bangkok buildings there usually is available “foreign quota”, unlike in Pattaya or Phuket where many buildings are targeted for foreign investors.
The quota is actually per total floor area of the building, and there is no allocation of specific rooms to be “foreign quota”. This is a common misunderstanding about the ownership rule.
Payment in Foreign Currency
The law requires that foreign buyers must have a proof that the funds used to pay for the property were sourced from outside Thailand or that they were converted from foreign currency to Thai baht in a local bank. The currency conversion has to be documented following tightly controlled rules and a Foreign Exchange Transaction (FET) certificate must be obtained in order to register property purchase at a Land Department in Thailand. This means you can’t use locally earned income directly to buy a condo in Thailand.
Our experienced team will guide you to buy condo in Thailand as foreigner as well as through the foreign exchange regulations to ensure a smooth money transfer process for your condo purchase.
Property ownership transfer
Before finalizing any property purchase, our professionals will conduct a thorough title deed check to ensure the property is free from encumbrances and legal issues. We will inspect your documents and eligibility to purchase property in Thailand, as well as guide you trough the process of registering the ownership transfer at a local Land Department office.
Keep in mind that all documents related to property purchase and ownership transfer must be in Thai or translated to Thai before registering the ownership. At the time of ownership registration the seller and the buyer are required to pay relevant taxes in the Land Department before the ownership registration can be completed.
Professional Real Estate Agency – Whitebird Estate
With Whitebird Estate Agency as your trusted partner, to buy condo in Thailand as foreigner becomes an exciting and rewarding journey. Our team’s expertise, coupled with our commitment to providing exceptional service, ensures that you make well-informed decisions, securing a valuable investment in Thailand’s thriving real estate market.
Beyond the acquisition process, our dedication to client satisfaction extends to property management services. Once you own your dream condo, you can rely on us to take care of your property and handle all the necessary tasks, providing you with peace of mind, whether you reside in Thailand or are located abroad. Our property management services encompass regular inspections, maintenance, and assistance with any administrative requirements.
Additionally, if you wish to maximize your investment returns, our agency can also find rental tenants for your condo, ensuring a steady income stream. We understand the local rental market trends and possess the expertise to attract quality tenants, guaranteeing a hassle-free rental process.
Let us guide you through every step of the process, making your dream of owning a condo in Thailand a reality. To buy condo in Thailand as a foreigner is not difficult, but you will need a professional real estate agency to help you navigate the process. Contact us today to embark on this enriching venture!