Condo Ownership

[WorkingForCNX]

Hello everyone,

I am a long time reader but first time poster. I have been running and operating a business in Chiang Mai for the two years. I am just now ready to look into buying a condo. I am literally just starting my research today and had a few introductory questions. As I understand it,

1) I can own 100% of a condo as a foreigner but only up to 49% of the sq. Meter of the building?

2) Let's say I start with a 1,000,000 thb condo and have significant income to show Thai banks from my business in Thailand

A) Would it be easy to get a loan from a Thai bank

What would be a typical interest rate on a loan in Thailand

C) What is a typical percentage for a down payment banks would like when issuing a loan?

Thanks everyone in advance. I know these questions have probably been asked a million times but I couldn't find proper info on them on my initial research.

[Popscene]

(1) Yes if the condo has 100 units @50m2 each 49 of the 100 unit can be 100% foreigner owned, the other 51% have to be Thai or Company name.

(2) For foreigner ownership you need to show that the money came from outside Thailand, I don't think that a Thai banks will give you loan.

[54321]

The developer can sell a maximum of 49% of condos to foreigners.

I looked into home loans a while ago, and the rates were around 8%, the amount of deposit 25% and if I recall correctly the value of the loan had to be at least 3 million (numbers based on my recollection). After researching it, my conclusion was that it is not worth the bother and is financially a bad idea if you can bring in the cash from your own country.