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It is a great idea to invest in paradise to combine profit, coming from rental, with pleasure of enjoying your own property by the sea.
The honest answer to question if to buy property in Thailand as an investment is – it depends. Everybody has different needs. If you want to relocate to Thailand or retire in Phuket, we recommend to all our clients to come here first and rent some apartment, condominium, villa or Thai-style house to soak up the atmosphere and to decide, which area suits them the best.
If you want to buy property in Phuket, Thailand as an investment, it is not that important which area you personally prefer.
With iura Phuket assistance, I purchased an apartment in Phuket Palace in Patong, Phuket, one year ago. I am more than satisfied, with rental occupacy more than 80 per cent the whole year, even during the low season
Answer to the question of owning property in Thailand depends on type of property – apartment, condominium, villa, town house, building or land (plot).
Basically, foreigner can not own the land (meaning a plot). Usual practice is to rent it, for example for 30 years.
Foreigners can acquire apartments and condominiums on their name, with some limitations.
However, we would suggest to set up your Thai company first and buy condominium with this company. There are more reasons to do it, one of the important ones is tax issue.
Simply said, you can buy a villa, town house or Thai house, but it is more complicated than buying apartment and Thai company may be a must.
Yes. Same as in many other countries, there is an official government body, keeping records of all properly registered real estates. It is the first thing you should ask from a seller if you want to acquire any property in Thailand.
More basic information, even in English language, can be found here…
There is a lot of things that need to be covered for a smooth process while buying property in Thailand.
If to name just one – be aware that there are basically 4 different title deeds – Chanote, Nor Sor 3 Gor, Nor Sor 3, Possesory right.
All deeds can have more subgroups or different rights attached to them and these may be VERY important in case you want to use the land for building a house for example.
It was difficult to understand for me at first. iura Phuket is not an real estate agency, they are more like lawyers and consulting, doing the opposite as real estate agents do – they represent you, not the owner of the property. You pay for their services, you are the client. And that is a HUGE difference while doing business or buying something, especially in Thailand.
Spain
There is a lot of attorneys and real estate agencies in Phuket. But I had no idea whom I can trust, because my friends had some bad experiences before. I speak English quite good for vacation purposes, but to do business, I needed to speak in Russian. With iura Phuket, it was a seamless experience.
Definitely recommend them.
224/9 Karon road, 83100 Karon, Phuket, Thailand
+66 9871 55 201
All rights reserved. Disclaimer: iura Phuket is a project, not a legal entity It serves as an online database of services for online customers. Neither iura Phuket, nor any of the persons showed or described on its webpage, in social media or printed materials DO NOT provide any services, especially do not provide any legal counseling or business advisory to any customers, especially in Thailand. All the services described are provided in Thailand by solely by Thai lawyers and/or other Thai professionals with proper and valid license to do so. For international clients and services in other countries.
