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Legally owning a Thailand condo is still and always has been the most practical and safest property purchase for foreigners (non Thai Nationals). You will receive a individual condo title unit in with your name registered on it and unit size and number.
As a result there really isn't a
need to lease the unit or set up a Thai company to purchase as is normally done with other properties. In a condo building, a foreigner
can own 49% of the total floor area,
either as a lease or by owning the unit (freehold) title as explained. After it has
been properly registered, the condominium juristic body then
owns the land title so all owners also have ownership of facilities, common areas.
 
Recent
stricter foreign ownership regulations in Thailand have forced
developers in
markets with focus now on other areas outside Bangkok
See listed here recommended Samui Condos and why resort areas such as Samui, Phuket Condos are an alternative solution to Bangkok.It comes as no
surprise that the first condominium projects have broken ground on Koh Samui over
the last year. Unlike Phuket and Pattaya, Samui island has not yet
been a major target for this type of development, mainly because of
strict adherence to Samui’s restrictive building code, which limits
a building’s height to 12 meters. But things may be about to change as
quality developers have already started to invest.
Condo Advantages
There are some advantages to a
Thailand condominium compared
to a Villa or house. Firstly foreigners can legally own a condo in
their own name,
another advantage of buying a condominium is that by definition it
is generally a managed property and even some developers are selling
condo units in a resort Hotel setting. Owners can use a
condominium and then lock
it up while away knowing that the building and common areas will be
looked after. Alternatively, they can leave it under contract
management and have it generate income in their absence.
Condominiums in Thailand are also the most cost
effective way to use land, especially in places like Samui Island where
various limitations apply. The emphasis here is on linear rather
that vertical construction, which means some interesting, innovative
designs will soon appear to challenge the limits of the 12 meter
rule.
Impacts on Thailand condominiums property
market
Bangkok city condo- 2006 has seen more developers than the previous year.With an estimate of 1,500+ Thailand condominium units being built in Bangkok with more high end developments planned for the end of the year. Raimon Land quoted "As of March 2006, buyers had to pay 81,975 baht/m2 in average to acquire a condominium unit in central area of Bangkok compared to 72,596 baht/m2 in the last twelve months" - courtesy of Ramonland
Resort Locations - Again Pattaya has proven to be the number one destination for buyers in the Thailand condominium market and for developers also if considering only the resort locations.Whch still attracts Bangkok city buyers and more foreign retirees. Due to demand of High end property mainly Thailand condominiums and a short supply, prices have start to increase, with some resale units selling at120,000 baht/m2 . Early projects have sold out and first buyers have sold to the resale market before projects have completed with gains of 20-45% above initial sales price such is the demand.
 
Phuket and Samui continue to attract more tourists each year with both destinations having improving infrastructure and facilities and Phuket's recovery of the island property market since the Tsunami.
According to industry experts, in the future, Koh Samui will see
more large, professional developers from Bangkok taking on
medium-sized, low-rise developments. These developers will
come in with the initial financial means to build and develop the
projects see one developer Aquarius Estate Co Ltd
Contact us Info available
We have access to Condominiums in Bangkok, Phuket, Pattaya other - contact us today.
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