An Independent Realtor
It can be challenging for a foreigner looking for a Phuket house for sale. Many times just locating houses for sale in Thailand can be exhausting. Our company specializes in assisting foreigners who are interested in acquiring homes and villas for sale in Phuket Thailand. We also help clients looking to sell their homes in Phuket Thailand. Currently, we have over 200 active villa and home listings, all with properly documented paperwork. Since 2013, Phuket Realtor has helped hundreds of clients safely enter and exit the Thailand property market.
Villa & Home Ownership
Foreigners interested in purchasing a home or villa in Thailand have several legal options. Some of the legal options include; leasing the property, a protected leasehold, a leasehold with a share of freehold, or setting up a Thai company. By law in Thailand, foreigners are not currently allowed to directly own land. However, foreigners can own freehold structures attached to the land.
Leasehold and Leasehold Structures
One option is simply to acquire the land on a leasehold basis. The maximum registered lease on a property in Thailand is 30 years with the possibility for 2 extensions written into the contract. For a total lease term of 90 years. While a leasehold may not offer direct ownership, it does offer exclusive rights to the use of that property.
Leasehold rights are registered on the back of the title deed at the land office. Leasing land does require some work at the end of each 30-year lease period but it can be a simple and hassle-free way to enjoy and purchase a home or villa in Thailand. Retirees wanting to purchase a home or pool villa for sale in Phuket may find this solution attractive.
Additional leasehold structures exist, such as protected leaseholds and leaseholds with a share of freehold, which is explained below.
Freehold Structures
A popular option of ownership is to lease the land and put the home or villa structure in the foreigner's name as a freehold. Foreigners can own buildings, villas, and structures according to Thai law on a freehold basis. The foreigner would be listed on the back of the land title deed.
Setting up a Thai Company
Another structure for foreign buyers is setting up a Thai company to purchase the property for sale. This Thai freehold structure offers more ownership rights than a leasehold structure. 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 when you buy a villa in Thailand for sale.
Other Options
Yet another option is the work with the developer's ownership structure. It's popular for the developer of a new estate to set up an ownership structure for foreigners. One such structure is called "leasehold with a share of freehold". In this structure, the buyers are given a leasehold contract. They are also given an equal share of a Thai company set up to control the estate. The Thai company is set up in such a way as to enable lessees to retain control over subsequent lease renewals. In this way, the buyers become the lessee and, to some degree, the lessor. This is gaining in popularity.
Title Deeds and Land Titles
As a buyer, you need to be aware of the various title deeds and land titles for property in Thailand to better understand what you are being offered. Land titles are the most common evidence to prove ownership, rights of possession, and other interests in property. In Thailand, there are various types of land titles and each provides a different level of security for the owner.
Remember, the property title is proof of ownership; therefore the quality of the land title deed determines the fundamental security of your investment. This is very important when considering a house for sale in Phuket.
For this to work when purchasing a Phuket house or villa for sale, you should only consider a property that comes with a Chanote, Nor Sor 3, or Nor Sor 3 Gor land title. These 3 titles are the highest offered in Thailand and can be sold, leased, transferred, and used as mortgage collateral. They are the only titles that can be registered for the right of ownership and or lease to exist.
As a buyer, you need to be aware of the various title deeds and land titles for property in Thailand to better understand what you are being offered. Land titles are the most common evidence to prove ownership, rights of possession, and other interests in property. In Thailand, there are various types of land titles and each provides a different level of security for the owner.
Remember, the property title is proof of ownership; therefore the quality of the land title deed determines the fundamental security of your investment. This is very important when considering a house for sale in Phuket.
For this to work when purchasing a Phuket house or villa for sale, you should only consider a property that comes with a Chanote, Nor Sor 3, or Nor Sor 3 Gor land title. These 3 titles are the highest offered in Thailand and can be sold, leased, transferred, and used as mortgage collateral. They are the only titles that can be registered for the right of ownership and or lease to exist.
Phuket Realtor Can Help
As an independent Realtor, we assist our clients with the purchase of land, homes, villas, condominiums, and apartments in Phuket Thailand. We also help our clients with selling their Thailand properties. As prices continue to rise in Phuket we strive to help 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% per year since 2005. And we expect this to continue.
Phuket villas for sale and houses for sale in Phuket have been steadily increasing in value. The price of land has been going up due to increased demand, strict zoning, and availability. After the 2004 Tsunami, the government instituted new zoning regulations that restrict and limit the amount of buildings on the island. 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 in the future.
Local Experts
Working with a good realtor and a good lawyer is important in Thailand. Investing in a foreign property market can be tricky at times and a local expert 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 ownership, as many are buying a house or villa in Thailand for the first time. Our professional realtors will discuss your requirements first and then suggest a property that meets your needs from our inventory of Thailand villas for sale.
We can assist you at our office or pick you up from your resort or hotel. We will then arrange property viewing and inspections based on your stated needs and requirements.
When it comes to selling your property, we offer some of the lowest commission rates on the island similar to a discount broker.
We specialize in helping foreigners make successful real estate investments in Phuket Thailand. Our friendly and professional team advises and guides 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 will work hard to achieve 100% satisfaction.
Phuket Realtor was founded in 2012, and we owe our ongoing success to our close alignment with our company's mission statement, 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.
