Do I need apply visa to buy house (condo) in Bangkok

[grado]

I like Bangkok, I want to buy a condominium Bangkok. Do I need apply visa to buy it, or any foreigners can buy a condo in Thailand ？ I'm from Singapore.

[Peterw42]

No Visa required but you will need a Thai bank account to bring the money into.

[Crossy]

I've edited the topic title to include that it's a condo that you're looking at, houses are a very different proposition.

 

[DrJack54]

When your looking for a condo for sale in Thailand you need to ask about "foreign township permitted" Any condo building has a limit of units available for foreign ownership. Total in any building is 49% or less. There is a real estate forum on Thaivisa. You can find all your info there. Make sure you research real estate in Thailand.

BTW, if you happen to want to invest 10million (for some crazy reason) I believe you can obtain elite visa. ( I'm very vague on that. Others can give more definitive advice)

[elviajero]

No specific visa required.

[elviajero]

40 minutes ago, DrJack54 said:

BTW, if you happen to want to invest 10million (for some crazy reason) I believe you can obtain elite visa. ( I'm very vague on that. Others can give more definitive advice)

You need to buy an “elite visa” from Thailand Elite separately to buying the condo. Ranging from 500K to 2M baht.

 

If you buy a new condo for at least 10M you can apply for a Non-immigrant visa and extension of stay based on that investment. Not necessary for many expats that qualify to stay for other reasons. And it doesn’t provide any ‘elite status’ or privileges.

[DrJack54]

Thanks, I knew it wasn't called EV. I now know its correct name. Maybe a good idea for someone well under 50 with that sort of money wanting an expensive condo with bonus visa thrown in. 

[JackThompson]

2 hours ago, DrJack54 said:

Thanks, I knew it wasn't called EV. I now know its correct name. Maybe a good idea for someone well under 50 with that sort of money wanting an expensive condo with bonus visa thrown in. 

The 10M Baht for the "investment based" extension-of-stay can be based on a combination of approved investments.  These include buying multiple "new" condos and/or money in certain banks and/or bonds (possibly more - but a limited list). 

 

This "investment-based"  extension is renewable annually forever (provided you maintain the investments), unlike the Elite Visa, which expires after the purchased set of years passes. 

[elviajero]

37 minutes ago, JackThompson said:

The 10M Baht for the "investment based" extension-of-stay can be based on a combination of approved investments.  These include buying multiple "new" condos and/or money in certain banks and/or bonds (possibly more - but a limited list). 

 

This "investment-based"  extension is renewable annually forever (provided you maintain the investments), unlike the Elite Visa, which expires after the purchased set of years passes. 

1M for a 20 year membership/visa and a 9M condo v 10M for a condo and yearly visits to immigration to extend your stay. 

 

I’d choose option one every time. For a start option two limits you to new overpriced properties and the extension is dependent on maintaining the investment.

 

A very small market for that option, IMO.

[DrJack54]

8 minutes ago, elviajero said:

1M for a 20 year membership/visa and a 9M condo v 10M for a condo and yearly visits to immigration to extend your stay. 

 

I’d choose option one every time. For a start option two limits you to new overpriced properties and the extension is dependent on maintaining the investment.

 

A very small market for that option, IMO.

I agree. Without derailing op. Australia offers a deal similar. The Chinese got right into it. Real estate esp melb, Sydney have had great capital gain. Not so Thailand. My first post was to advise OP to really research Thai real estate. Personally I wouldn't go near it. 

[JackThompson]

49 minutes ago, elviajero said:

1M for a 20 year membership/visa and a 9M condo v 10M for a condo and yearly visits to immigration to extend your stay. 

 

I’d choose option one every time. For a start option two limits you to new overpriced properties and the extension is dependent on maintaining the investment.

 

A very small market for that option, IMO.

I can see the argument for investing the other 9-mil diversified elsewhere vs Thailand, and going with the elite for the other million - but not the 9 vs 10 M condo comparison.  For people with that amount of money to invest in a foreign-country, the 20K baht/yr for the agent to handle their legit-extension would not be a factor.

 

The thing with condos, it's the expensive ones which seem to have some upside-potential - especially if purchased before construction begins (though that can go sideways).  The cheaper ones are empty all over.  That's not investment-advice, though.

[elviajero]

1 hour ago, JackThompson said:

I can see the argument for investing the other 9-mil diversified elsewhere vs Thailand, and going with the elite for the other million - but not the 9 vs 10 M condo comparison.  For people with that amount of money to invest in a foreign-country, the 20K baht/yr for the agent to handle their legit-extension would not be a factor.

 

The thing with condos, it's the expensive ones which seem to have some upside-potential - especially if purchased before construction begins (though that can go sideways).  The cheaper ones are empty all over.  That's not investment-advice, though.

9M buys a lot more in the second hand market than 10M does for a new build. 

 

Most people spending 10M on a condo wouldn’t have a problem finding an extra 1M for a 20 year visa.

 

I personally would never buy a condo, especially in Bangkok, unless I was buying to flip.