🏢Condominium Act

There are two types of ownership:
1/Freehold ownership: Freehold means that a property can be owned in perpetuity. The owner has the right to sell or lease the property. As more overseas property purchaser increased in Thailand, demand of freehold land property raised and this ownership is more easy to resale to the market.

 

2/Leasehold ownership: Property can held by a Thai person or Thai company, non-Thai can purchase a property on the Thai side of the ownership quota via a lease, and the lease will be issued to the non-Thai purchaser of the unit for maximum 30 years on a renewable basis. It is a common practice in Thailand for developers offer leases of 30 years + 30 years + 30 years, totaling 90 years of leases for buyers.
 

According to the 1979 Thai Condominium Act, non-Thai Citizens can't own more than 49% of the sellable square meter space in condominium in Thailand. For example, let's say there is a condominium building project and offered 100 equally sized units; only 49 of those unit can be sold to non-Thai citizens while 51 of those units have to be owned by a Thai citizens or a Thai company.

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📑Real Property and Off-plan Property

1/Real property generally purchase from the developer with existing completed project, all status could be inspection is the advantage. This kind of property can also buy from resale market, instantly use after transfer.

 

2/Off-plan property is project that purchase from developer that not yet completed, lower cost is the advantage and let buyer purchase their favorite project in advance, also more flexible on financial issue. Off-plan property can buy from resale market as same as real project.

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Generally the off-plan property project in Bangkok Thailand, the developer will collect the amount 20-30% of the property as the first installment, the remains will be collected while the project completed and transfer. Oppositely, Real property project required to pay 100% at one but the advantaged as purchaser can site visit the project and avoid any lost.

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🏬Listed Thailand Developers

The property market of Thailand is different from Hong Kong, as housing property project in Hong Kong usually held by listed developers; while an either Thai company can buy lands and build in Thailand. Furthermore  the land area in Bangkok is much bigger than Hong Kong, also the developers as well, therefore we suggested to purchase from listed developers those had previous projects for reference, and here is the Thai developers listing in 2020: Listed Developers in Thailand

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⚠️Price gap of Bangkok Property

The urban structure and size of Bangkok and Hong Kong is different, the price gap of the property project in different district also different, for the areas with railways may not necessarily drive the property prices. Therefore customer must clearly understand the purpose of your purchase, such as investment, renting or self-occupation. Suitable project for different demand is different. So it is best to seek professional advice and collect more information before purchasing project. On-site inspection is the only way to invest in overseas property for safer way, therefore the first step is to understand the actual location of the property, transportation and district facilities of the project through Google Map. If it is really inconvenient to inspect the local area, please as an agent or a friend to assist in taking photos for the know the actual situation.

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🛎️Property Management and After Sales Service

​Property management and after sales service are important for owned a property in Thailand no matter planned to self-occupation or rent the room out. And the said services are not simple as just managed by the juristic office because they have no network to approach the tenant efficiently and maybe caused many issues. Also the juristic office will not handle for the repairing services generally, therefore property management and after sales services  who professional like ZupremeCARE is important, to help buyer handle all procedures involved for example inspection and transfer. Our Zupreme Interior can help you to design your room and get all necessary electric appliance, assist owners to manage the property easily even at overseas. 

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💷Extra Expense of purchasing a Thai Property

The said expense included tax, mortgage fee, service fee, also the building maintenance fund, electricity and water installation or insurance fee, but the total expense still depends on the actual property.

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👪Maximum of the owner

Maximum of 5 person who aged over 21 while present their passport to register.

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🛠️Sinking Funds and Management Fee

Sinking fund is the one-time expense for the building maintenance fund, used to pay for any any construction made by the developer, for example the repairing in the common area. This fund needed to pay while purchasing the property and depends on the room size, counted as square meter.

 

Generally, the developer required the purchaser to pay for the management fee for the coming year once the project completed. The said fee will pay for the building operation expense, for example security service, lobby reception and housekeeping maid; swimming pool  maintenance fee or elevator repairing fee. The amount will counted as same as the sinking funds, by the room's size to decided how much have to pay.

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❗️❗️留意包租陷阱

位於曼谷市內的物業項目極少會「包租」，一般以包租作為招來賣點的項目都是位於較偏遠的新開發地區，因為發展商清楚明白該些樓盤項目落成後較難租出，而於包租期後，亦不代表業主能以相同租金把物業出租。

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📋Flipping and Reselling Fees

Should the purchaser confirm to proceed flipping or reselling the unit, Zupreme C&C will be assisting all payment on behalf of purchaser upon the greatest convenience. Confirmation receipt will be issued once necessary payment is proceeded and the relevant developers and officials will begin proceeding the documentation. It takes approximately 1-2 months for the relevant officials to confirm the name transfer. Necessary documentation will be sent back to Hong Kong for both old and new purchasers to sign off in order to complete the entire procedure.

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