Condo Ownership

[thaieagle67]

Although now is probably not the best time to buy, i was interested to know how many condo units can be owned by a foreigner in their own name?

[givenall]

Although now is probably not the best time to buy, i was interested to know how many condo units can be owned by a foreigner in their own name?

I do not think there is a limit. I have 3 and I have not had any issues

[khundon]

Although now is probably not the best time to buy, i was interested to know how many condo units can be owned by a foreigner in their own name?

I do not think there is a limit. I have 3 and I have not had any issues

If you rent them out it could be seen as you are working.

WP then required.

[quiksilva]

The limit only applies to the amount of space which can be sold to a foreigner in any particular project. If your pockets were deep enough (and you were so inclined) you could purchase the 49% stake in every condo project in the country.

As to the work permit issue, its a grey area, due to the vague description of what constitutes work.

I have personally never met anyone who has had to get a work permit because they receive rent here, likewise I have not heard of anyone needing a work permit to invest in the stock market.

[jbaldwin]

There is a grey area. However, property and the stock market of the same. You do not need a work permit to invest in property or shares. However, you do need a work permit if you act as a professional property or share dealer.

[think_too_mut]

Although now is probably not the best time to buy, i was interested to know how many condo units can be owned by a foreigner in their own name?

In my building, 6 best condos were bought by a foreigner, in his own name. 320 condos in the building.

There might be (and should be) but I am not aware of max per name. If that limit exists it should apply to both foreigners and Thais.

To guard against, for example, if someone owns 40% of the building and stops paying maintenance levies for whatever reason. My building in Sydney has a limit of 3 condos (strata titles) per owner. My former landlord lady owned 4 out of 370 condos at Sukhumvit Plus Phrakhanong.

I have not seen that kind of discussion or facts yet on this board.

[thaieagle67]

Thanks everyone. I haven't got deep pockets but was looking at purchasing a couple in the same building but was unsure of the laws of the land. Now I'll go and see if i can haggle a deal;-)