House Versus Land

[Henryk]

I wonder how you go about when buying a house as a farang.

We can not buy the land, so we lease it.

Ok, but what about the price.

I mean assume that someone wants to sell a house for 1 million bath and of course the price is for both the land and the house.

So what do you do now, you can buy the house, but you can only lease the land.

Waiting for your replays

[Mid]

freehold = condo . ( there's a whole subset of laws here also ).

ALL else = leasehold of some type

BOI and the like exempted.

[Henryk]

Well, ok leashold, but how do you go about. Do you tell the owner "Ok I buy the house from you for 500 000 bath and lease the land from you for another 30+30+30 years" It does not make sens for me. I don't get it.

Do you have to determine how much the house is worth versus how much the land is worth.

I mean if you don't buy the land from the owner but lease it, how can it be attractive to sell to a farang?

As you see I just don't understund it.

Would someone be so kind and explain it for me.

Thanks

[Sir Burr]

Firstly, why do you want to own the house on leased land? What's the point?

Secondly, there is no such thing as a 30+30+30 year lease. The maximum that is legally available is 30 years.

If you know a Thai person that is 110% trustworthy, then leasing the land will be the same as owning it.

If you want something in your own name, it has to be a condo that is above a certain floor level and is already designated as foreign registered.

If you do go this route and go for a condo, beware. Condominiums can only have a certain percentage of units foreign owned. If this percentage has already been reached within the building, then your one must legally be Thai owned. Of course, when you ask the owner you are buying from whether you can put your name on the title, they always say yes.