Thailand has been and remains a popular destination for purchasing property among people from all over the world. The reasons for this popularity are simple: many years of stable economic growth in the state, liberal laws in the field of finance, allowing non-residents to import capital and enter into transactions without any problems. And of course, the climate: warm sea and bright sun.
And despite the political crisis of 2014 in Thailand, construction volumes and activity in the housing market decreased slightly, and in the first quarter of 2015, they showed growth again.
The greatest demand is for housing in the resort area: houses and villas on the islands of Phuket and Koh Samui, apartments in Pattaya and Hua Hin. So you can easily find apartments for expats in Thailand for sale.
Legal Procedure for Purchasing Real Estate in Thailand
The procedure for buying a home in Thailand is quite simple – you need to obtain a certificate of foreign origin of funds. The easiest way to do this is as follows: open an account in a local bank and House in Thailand, transfer money to it to purchase real estate, or deposit cash in foreign currency.
If an apartment or house in Thailand is purchased directly from the developer, a direct transfer of funds is sufficient – a certificate will be issued by the bank servicing the developer’s accounts. At the end of the transaction, it is necessary to register it with the Land Department of Thailand and obtain an official document confirming ownership.
What Properties in Thailand are in Greatest Demand?
Premium-class apartments in modern residential complexes and condominiums are in constant demand. Such complexes, as a rule, have swimming pools, shops, restaurants, and other infrastructure facilities on their territory. Housing prices in these complexes vary in less prestigious areas from $2000–2500 per sq. m. m., and in luxury new buildings from $5,000.
You can also buy an apartment in Thailand at the construction stage.
Prices for apartments under construction in Pattaya start from $900 per sq. m. m., in Phuket – on average, from $1,200 per sq. m.
When purchasing a property under construction, you should pay attention to some points:
- before concluding a contract with the developer, a non-refundable deposit of $800 or more is made, depending on the housing class;
- the contract must be drawn up in English;
- the size of the first deposit and the payment schedule are determined by the developer and specified in the contract;
- the cost of installing water meters, electricity meters, etc., is paid separately.
Even though there is no property tax in Thailand when purchasing a home from a developer, the buyer must pay the state tax. Fee for registration of property in the amount of up to 7% of the value of the property.
For those looking for a budget option, the secondary housing market is suitable – here, the initial cost per square meter is, on average $700.
When purchasing secondary real estate from an agency or from a state owner. The seller pays the duty and the buyer in equal shares.
It is impossible not to mention the market for villas and detached houses. The supply of houses is very large: from “modest” villas with three bedrooms and bathrooms for $70,000–$100,000 to luxurious mansions costing more than $1 million.
However, only the building itself can be owned by a foreign citizen; the land plot is under long-term lease, usually for 90 years. Rights to land can only belong to Thai companies with a foreign share of no more than 49%.
Despite this, foreigners do not deny themselves the pleasure of having a home in Thailand, and the demand for villas is growing both in the fashionable beach areas of Phuket and on the more “democratic” coast of the Gulf of Thailand. Thailand-Real.Estate offers you a great variety of property opportunities.
Sights of the Islands of Thailand
Thailand can offer absolutely any type of holiday, and every tourist can choose the starting point for his stay in the country that he considers necessary and most suitable.
Regular guests of the country enjoy spending their holidays on the coast of the Gulf of Thailand, where the main tourist center is undoubtedly Pattaya. However, there are interesting sights in Bangkok, Phuket, and other Thai islands.
But not only Bangkok, Pattaya, and Phuket attract the attention of tourists from all over the world. Thailand has many small islands, very rich in attractions.
Thus, of particular interest are James Bond Island – local name “Ko Tapu”, where the filming of a film about the adventures of a superhero took place; Wat Plai Laem on Koh Samui is an iconic landmark surrounded by two huge statues; Wat Khunaram Temple is another interesting place on Samui; inside the building, you can get a fortune telling by taking a stick from a glass vessel and finding out your destiny; The Magical Buddha Garden on Koh Samui is a quiet park with dozens of sculptures of the deity in a variety of poses; Tarutau Park is a national marine park located on 51 islands in the southern part of Thailand. It will be of interest to diving enthusiasts.
Holidays in Thailand are not only a story about beaches, exotic nature, breathtaking sunsets, and incredible walks in the fresh air. These are also fascinating excursions around the country, with many temples, Buddha statues, museums, palaces, and other interesting objects.
Railay beaches in Thailand The beaches of this area, together with the coast of the Krabi region, which are located in the south of the country, represent a real tropical paradise and the dream of all travelers. Here, you will see the world-famous James Bond Rock, white sands, turquoise clear waters of the sea, and picturesque vegetation.
Also here you will see not only ordinary tourists, but also many professional divers and rock climbers – it’s quite an interesting sight to watch their activities and, perhaps, take something into service.
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