Allowed To Buy Condo And Later Resell To Other Foreigner?

[johnlek]

If I as a foreigner buy a condo, with funds from abroad (min US$ 20.000), can I at later stage resell it to another foreigner, or am I confined to sell it to Thai only? At present I am only in Thailand on tourist visas.

Edited April 2, 2006 by johnlek

[mrbojangles]

Hi John,

Is it a brand new development or one that has been occupied for a while? If it is already foreign held there shouldn't be a problem.

As with anything though, always seek advise before buying. But in short answer to your question, if you do things the right way, you can sell to a foreigner at a later date.

[johnlek]

It’s a 16 year old unit. I already have one small unit in the complex (565 units in all), which I love and don’t have any intentions of selling at all. I have been coming to the specific holiday place for years, always ending up in a different hotel. That is before I bought that small unit (32 square m.). THE REASON FOR ME ASKING THE QUESTION IS THAT I HAVE REPEATATLY HAD REQUESTS FROM FAMILIY AND FRIENDS IF THEY COULD STAY WITH ME. So the whole point is that I am thinking about buying another unit or two which gives me more space to receive visitors. At a later stage I may sell depending on if family and friends still want to stay in these units or not as years go by.

[backflip]

You can sell to a foreigner. I'm interested why you thought that you could not.

[Thaiquila]

Yes, you could sell it to anyone.

The question you should be asking is if anyone will buy it!

[lopburi3]

Many people invest in a condo as a means of meeting the 3 million baht investment requirements for a one year stay so you would not have that customer base as they have to be Thai development sold units presently from recent reports.