Buying A Second Hand Condo

[battersea]

I would just like to ask the forum if ;

1) It is possible to buy a second hand condo ..?

2) Does a 'farang' have to buy a condo worth a certain amount ...say over 1,000,000 baht ? Is there a minimum amount a farang has to pay for a condo ?

3) Is the lease on a condo normally 30 years ?

i have seen some older style condos in Bangkok which , i have to say , do not look the best but are certainly liveable and wondered if it was possible to buy a condo for 500,000 baht or under a million baht and if this would be acceptable under the rules for foreigners buying a condo in Thailand ??

[Swiss1960]

Yes, you can buy a "second hand" condo, but make sure that it is within the Foreing Quota already => best buy one from a foreigner and not from a Thai. And no, there is no such thing as a price minimum... but finding one below 1 Mio might already be difficult, depending on the quality you are seeking. You don't lease a condo, you would have a lease on land/house, but the condo you buy indefinitely.

Edited March 29, 2012 by Swiss1960

[aussiebebe]

1) Yes

2) no minimum value

3) You can buy freehold or leasehold. In Thailand, most property leases are granted on a 30-year contract.