Condo Subdivision

[gguy]

I looked at a very large condo today that interests me.

It was originally sold as one unit; however, it was designed as 5 units of 40 square meters.

The condo is currently at the 49% Farang limit.

The condo is currently farang titled. If I subdivided would the new 4 condos be farang titled?

Thanks

[Tyke]

I looked at a very large condo today that interests me.

It was originally sold as one unit; however, it was designed as 5 units of 40 square meters.

The condo is currently at the 49% Farang limit.

The condo is currently farang titled. If I subdivided would the new 4 condos be farang titled?

Thanks

I believe it depends on if the 49% limit on foreign ownership refers to the proportion of the total habitable floor space in the block or on the proportion of units owned by foreigners (logically it should be the former) but I am not an expert.

[donx]

I looked at a very large condo today that interests me.

It was originally sold as one unit; however, it was designed as 5 units of 40 square meters.

The condo is currently at the 49% Farang limit.

The condo is currently farang titled. If I subdivided would the new 4 condos be farang titled?

Thanks

I believe it depends on if the 49% limit on foreign ownership refers to the proportion of the total habitable floor space in the block or on the proportion of units owned by foreigners (logically it should be the former) but I am not an expert.

My understanding is that the 49% limit on foreign ownership is based upon total habitable floor space and not on proportion of units owned. Therefore, you should be able to have all of the subdivided units within the 49% limit.

You say it was designed as 5 units but you also say you would have 4 condos after subdividing. Are you planning on having one 80 square meter unit and three 40 square meter units? Not that it matters - I'm just seeing if you wrote what you meant or if you meant to say after subdividing you would have 5 units as they were designed to be in the first place.

[torrenova]

It is my experience that most condo blocks are designed in this way and those purchasing off plan have the ability to combine whatever units are available. I suppose it may be possible that the 5 units are still on 5 different ownership papers but I doubt it.

My understanding is that it is the % of floor area, not the number of condos.

[quiksilva]

Yes its based on the sellable area, not the number of units, so it shouldn't be a problem.