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Thailand Condo for Sale

As you probably already know, it can be challenging for a foreigner looking to buy a Thailand condo for sale. Many times just locating the correct information can be exhausting. Our company specializes in assisting foreigners interested in acquiring Thailand condos for sale and Thailand apartments for sale. We also help clients looking to sell their apartments and condominiums. Currently, we have over 250 active listings with a mix of leasehold ownership and foreign freehold ownership. Since 2013, Phuket Realtor has helped hundreds of clients safely enter and exit the Thailand property market. 


Difference between Condominiums and Apartments

It is first important to point out that apartment buildings differ from registered condominium buildings in Thailand. With apartment buildings, buyers only receive an interest in their separate units and no shared interest in the common area. Apartment owners have no say in the management of the building or common area.

Registered condominiums in Thailand are a special form of property set up for foreign ownership. This was set up over 40 years ago to encourage foreign investment in the Thailand property market. With registered condominiums in Thailand, buyers receive ownership of their separate units and co-ownership of the common property by way of "juristic person" or co-owners association. Developers must follow certain procedures and comply with certain regulations in order to obtain a condominium license for their properties.

In Phuket, about 90% of new developments will apply for and receive a registered condominium license.


Ownership

Foreigners are allowed to purchase apartments and condominiums in Thailand. Our foreign clients interested in condominiums or apartments have three legal options: leasehold, foreign freehold, and setting up a Thai company. 

The first ownership option is leasehold. Once registered, the lease becomes a lien upon the title deed for the unit. As a legal interest, it also means the apartment or condominium can be bought, sold, or transferred. When buying leasehold units in Thailand, it is common to come across a 30+30+30 leasehold structure. This is basically a 90-year lease, registered in 30-year blocks at the land office. It does require extending the lease at the end of each term and according to the contract. Many investors prefer purchasing leasehold due to tax advantages. 

The second ownership option is purchasing a foreign freehold condominium. Condominium freehold is a special legal type of freehold that foreigns can directly and legally own in Thailand. The Thai Condominium Act clarifies the law related to condominium freehold properties and provides a degree of "consumer protection" for buyers. Only 49% of the registrable area of a condominium development can be allocated to foreign purchasers and is referred to as the foreign freehold quota. Taxes on foreign freehold condominiums can be as high as 6.3% when buying or selling a unit.

Another structure for foreign buyers is setting up a Thai company to purchase the unit. This is not very common with the purchase of a condominium due to condominium freehold. A good local property law firm can set this up within a couple of weeks. As long as the foreigner complies with the law, this option offers a good degree of indirect ownership and control.


Title

As a buyer, you need to be aware of the various title deeds for property in Thailand to better understand what you are being offered. Titles are the most common evidence to prove ownership, rights of possession, and other interests in property. In Thailand, there are various types of titles and each provides a different level of security for the owner.

Registered condominiums have a special title or condominium title called Or Chor 2. This title shows the ownership of the individual unit and the share of co-ownership of the common property. This special title deed lists the location and deed number of the land along with the floor plan of the condo unit and the ratio of common property.

Remember, the property title is proof of ownership; therefore the quality of the land title deed determines the fundamental security of your investment. When purchasing a Thailand apartment for sale, you should only consider properties that hold a Chanote land title. 


Phuket Condo for Sale

As an independent Realtor, we assist our clients with land, homes, villas, condominiums, and apartments in Thailand for sale. We also help our clients with selling their Thailand properties. As prices continue to rise in Phuket we strive to help our clients understand the reasons why and the benefits of investing here. It's a fact, land prices have been rising at an average of 13% every year since 2005, which was the last market low.

Phuket condos for sale have been consistently increasing in value. The price of land has been going up due to increased demand and reduction in supply. After the 2004 Tsunami, the government instituted new zoning regulations that restrict the amount of building on the island. The new zoning laws also restricted the height of apartment and condominium buildings. When struggling to understand property prices in Phuket, keep in mind that the new stricter zoning regulations will ensure that the island stays beautiful and green for the younger generations to appreciate.


An Independent Realtor

Working with a good Realtor is important in Thailand. Investing in a foreign property market can be tricky at times and a local professional realtor can help guide you through the proper steps and ensure a safe and successful transaction. 

At Phuket Realtor, we take great pride in making sure our clients stay happy and fully understand their transactions as many are purchasing a Phuket condo for sale for the first time. Our realtors will discuss your requirements first and then suggest a property that meets your needs from our inventory of Thailand condos for sale. We can assist you at our office or pick you up from your hotel. We will then arrange condominium viewings based on your stated needs and requirements.

When it comes to selling your apartment or condominium, we offer some of the lowest commission rates on the island similar to a discount broker.

We specialize in helping foreigners to make successful real estate investments in Thailand. Our friendly and professional team advise and guide foreigners with reliable and honest communication providing a stress-free but efficient search process. Whether you're looking to purchase or liquidate a property, we will focus on your requirements, listen to your stated needs, and work hard to achieve 100% satisfaction.
 
Phuket Realtor was founded in 2012 and owes its ongoing success to its close alignment with the company's mission, vision, and values. If you have ever thought about owning a holiday home on one of the most exciting islands in South East Asia, Phuket Realtor can help assure it goes smoothly. Contact us today about Phuket condos for sale.

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