What you should know about Thai real estate.
1 How many years is the property right of Thailand?
Thai real estate property rights have always been permanent property rights for Thais; According to the Thai Apartment Law, no more than 49% of the saleable area is sold to foreign buyers with overseas permanent property rights, and the remaining 5 1% is sold to Thai permanent property rights or 90% of overseas property rights. In other words, foreigners can't buy more than 49% of the total property in Thailand. If foreigners buy more, 49% can only buy real estate for 90 years in the future.
Thai law stipulates that non-Thai nationals cannot buy Thai land alone, that is, foreigners cannot buy permanent property buildings, especially villas, with land alone. Of course, if foreigners want to buy villas or land in Thailand and have permanent property rights, they can do so by registering a Thai company.
2 is it restricted?
The house is not limited to purchase. You can buy more than one set, one set for self-occupation, one set for rental support loans or live in a local holiday. The only restriction is that 5 1% of the permanent property rights of the whole apartment building must be in the hands of Thai citizens, and foreigners can buy up to 49% of the permanent property rights.
3 is there a pool area for Thai real estate?
Thailand has no shared housing area, which is calculated according to the actual use area.
4 purchase process
The process of buying a house in Thailand generally follows the following steps: looking at the house → paying a deposit/signing a house purchase contract → remitting money → issuing a remittance certificate and a check at the bank → carrying a passport, a bank remittance certificate and a check to the local land bureau for transfer and house collection.
5 Thailand house purchase tax
Because there is no "property tax" in Thailand, only a few transfer taxes are required to transfer property in Thailand.
Who will generally bear these taxes and fees?
Under normal circumstances, when buying and selling a new house, the buyer only needs to pay transfer fees, and all other taxes and fees are borne by the developer. When buying and selling second-hand houses, taxes and fees are generally borne by the buyer and the seller, and 50% or all of them are borne by the seller.
However, in practice, the burden of taxes and fees can be negotiated by buyers and sellers or determined by some established practices. Therefore, before signing the sales contract, buyers and sellers should determine their respective taxes and fees to avoid unnecessary disputes.
7 signing of the contract
Thailand's purchase contract terms are mainly in Thai and English. When handling the property transfer formalities in the land department, if passport name information is involved, it needs to be translated and notarized into Thai or English. Generally, the contract is signed on site, or it can be signed by sending documents remotely.
What is the return on investment in Thailand?
For Thailand, due to the financial crisis, market diversification, the influx of foreign-funded enterprises and the prosperity of tourism, the operation of real estate marketization is more mature, and there will naturally be no substantial increase in real estate, let alone a sharp decline in real estate. Thailand's real estate data can show a steady upward trend every year.
What is the rental income of Thai real estate?
Domestic real estate investment values the premium and appreciation of real estate, while Thai real estate investment values not only the investment value and appreciation, but also the rental return rate.
In Thailand, the average rental return rate can reach 5. 13%, while in Phuket, the rental return rate of most houses is basically stable between 6-8%. This also means that the real estate itself is in a healthy market environment in Thailand, indicating that it has value preservation, is relatively stable and reliable, and the risk allocation of assets is relatively low.
10 how to manage the purchase of real estate in Thailand
You can entrust the property management office to manage and rent your property, and you can communicate with the property management office in advance when you need to move in. Of course, the best way is to choose a reliable developer who can provide custody and charter, so that not only the rental income is guaranteed, but also there is no need to worry about housing management, and a professional hotel operation management company will take care of it.