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How could non-Thais own or lease permanently a Thai condo?
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  1. #1
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    How could non-Thais own or lease permanently a Thai condo?

    I understand that as foreigners we can only lease, for a max of 30 yrs, condo apartments in Thailand.

    I have 2 questions:
    1) In this case, do we still pay the same as the Thais? Will there be any refund at the end of 30 years when we return the lease to the original owner?

    2) Is there any way to own or lease a condo permanently as long as I live?

  2. #2
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    Most of the things you ask, you can fine very easily on GOOGLE, it took me about 60 seconds to copy/paste this for you and to get back from GOOGLE

    Can I Own a Condominium in Thailand


    Buying a condominium, is perhaps the simplest and easiest option available to foreigners. The only restrictions on purchasing a condominium, are that the percentage of units sold to foreigners cannot exceed forty nine percent (49% - although this has varied at times) of the total number of units in the condominium block; and that the funds used to buy the condominium have been remitted from abroad and correctly recorded as such by a Thai Bank on a Tor Tor Sam. Purchases of condominiums by foreign individuals come under the jurisdiction of the CONDOMINIUM ACT (No. 3) B.E. 2542 (1999).



    The owner of each condominium is issued with a certificate of unit ownership. The certificate also has a statement saying exactly what percentage of rights over the common areas of the building each owner has.

  3. #3
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    Quote Originally Posted by FaranginPhetch
    Most of the things you ask, you can fine very easily on GOOGLE, it took me about 60 seconds to copy/paste this for you and to get back from GOOGLE

    Can I Own a Condominium in Thailand


    Buying a condominium, is perhaps the simplest and easiest option available to foreigners. The only restrictions on purchasing a condominium, are that the percentage of units sold to foreigners cannot exceed forty nine percent (49% - although this has varied at times) of the total number of units in the condominium block; and that the funds used to buy the condominium have been remitted from abroad and correctly recorded as such by a Thai Bank on a Tor Tor Sam. Purchases of condominiums by foreign individuals come under the jurisdiction of the CONDOMINIUM ACT (No. 3) B.E. 2542 (1999).



    The owner of each condominium is issued with a certificate of unit ownership. The certificate also has a statement saying exactly what percentage of rights over the common areas of the building each owner has.
    Hi friend,

    I know about this law. I am not asking whether I can purchase a condo unit at a particular condo estate. The property agent would tell me if there's already more than 49% farangs.

    But I am talking about another law. This law states that even if you can purchase a condo unit (because there's less than 49% farangs who bought the other units), you can only lease this unit for 30 years.

    Do you know about this law? I am wondering whether we actually must return the condo after 3o years.

  4. #4
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    Buying a condo has not a thing to do with owning the land under it, you have only bought the condo and can never ever own the land and that is what the 30 year lease is about, you can not own land but you can lease it.

    Nowhere that you buy a condo do you also own the land it is built on unless you buy the whole building.

  5. #5
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    Quote Originally Posted by FaranginPhetch
    Buying a condo has not a thing to do with owning the land under it, you have only bought the condo and can never ever own the land and that is what the 30 year lease is about, you can not own land but you can lease it.

    Nowhere that you buy a condo do you also own the land it is built on unless you buy the whole building.
    I thought that was the case. However, I got an email from a property agent that says that the apartment I was keen in comes with only 30 years' lease if sold to a foreigner. I got to check out to whom this rule applies.

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    good bye


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    Foreigners cannot own a ground floor Condominium in Thailand, as that would mean you would own land.
    1st floor and above is OK

  8. #8
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    I have looked a bunch and I can see nowhere that there is a restriction on which floors a farang can buy or not buy.

    but here is the only thing I can find about lease or buy
    9. You will need to bring all purchasing funds from overseas. The minimum amount set by the Thai government is $US 10,000.

    10. Make sure you know whether you are buying leasehold or freehold. Your lawyer will check this for you. Leasehold means you will never own the property. You will merely lease it from the landowner. Freehold gives you full ownership rights. Obviously, freehold is much better.
    here is a link to look at and see for yourself.
    http://www.seansite.net/thailand/buying-a-condominium/

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