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An Independent Realtor
It can be challenging for foreigners to buy luxury property in Thailand. Many times just locating property for sale in Thailand can be exhausting. Our company specializes in assisting foreigners interested in acquiring luxury properties for sale in Phuket Thailand. We also help clients looking to sell their luxury properties in Phuket Thailand.Â
Currently, we have over 130 active luxury property listings all with proper titles and paperwork. Since 2013, Phuket Realtor has helped hundreds of clients safely enter and exit the Thailand property market. We classify luxury listings as $1 million US dollars and above.
Luxury Villa Ownership
In Thailand by law, foreigners are not allowed to directly own the land. Foreign clients interested in purchasing luxury homes or luxury villas for sale in Phuket have several legal options. Some of the options include: leasing the property, setting up a Thai company, or working with a developer's ownership structure.
Leasehold Ownership
One option is simply to acquire the land on a leasehold basis. The maximum lease on a property in Thailand is 30 years with the possibility for 2 extensions written into the contract. This would be 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.Â
Leasehold rights are registered on the back of the title deed at the land office. It does require some work at the end of each 30-year lease but can be a simple and hassle-free way to enjoy and purchase a luxury home or luxury villa in Thailand. Retirees wanting to purchase a luxury holiday home may find this solution attractive.
Freehold Structures
Another option is to lease the land and put the villa in your name as freehold ownership. Foreigners can own buildings, villas, and structures according to Thai law on a freehold basis. You would be listed on the back of the title deed.
Setting up a Thai Company
Another structure for foreign buyers is setting up a Thai company to purchase the property. This holding 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 luxury property in Phuket Thailand.
Other Options
Yet another option is the work with the developer's ownership structure. It's popular for the developer of a new luxury estate to set up an ownership structure 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.Â
Title Deeds and Land Titles
As a buyer, you need to be aware of the various title deeds and land titles for luxury 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.Â
For this to work when purchasing a house or villa for sale in Phuket Thailand, you should only consider a property that comes with a Chanote, Nor Sor 3, or Nor Sor 3 Gor land title. These titles 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 luxury 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.Â
For this to work when purchasing a house or villa for sale in Phuket Thailand, you should only consider a property that comes with a Chanote, Nor Sor 3, or Nor Sor 3 Gor land title. These titles 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 luxury homes, villas, condominiums, and apartments in Phuket Thailand. We also help our clients with selling their 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. We expect this to continue.
Luxury properties in Thailand have been steadily increasing in value. The price of land has been going up due to increased demand and limited supply. After the 2004 Tsunami, the Thai government instituted new zoning regulations that restrict and limit the number 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 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.Â
At Phuket Realtor, we take great pride in making sure our clients stay happy and fully understand their ownership, as many are buying a luxury villa or luxury property in Thailand for the first time. Our realtors will discuss your requirements first and then suggest a property that meets your needs from our inventory of luxury villas, homes, condominiums, and apartments for sale. We can assist you at our office or pick you up from your resort or hotel. We will then arrange property viewings based on your stated needs and requirements.
When it comes to selling your luxury property, 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 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 luxury 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 owes its ongoing success to its close alignment with the company's mission statement, vision, and values. If you have ever thought about owning a luxury home on one of the most exciting islands in South East Asia, Phuket Realtor can help assure it goes smoothly.
Contact us today to sell or buy luxury property in Phuket Thailand.
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