Buying a condo.

[mjj]

I've done a search, but with Thai regs changing quite frequently I thought someone here might have some up to date info. The question is can a foreigner own a condo on Samui? Previously I thought the answer was yes, but a friend of mine that is looking to buy, has been told he can only lease for 30 years. Is this a law or is it from the condo company?

If a foreigner can indeed buy a condo, do any of you know which complex's sell and not just lease?

Thank you.

Mjj.

BTW he doesn't have a Thai wife or GF so that option is non existent.

[PoorSucker]

Moved to real estate section.

[mjj]

Moved to real estate section.

OK. I though about putting it there, but I am curious to know specifically about Samui - if it is any different, like the taxi meter thing...

[trogers]

Didn't know there are condos in samui island. Last that I have heard are apartments and leaseholds only.

[mjj]

Well they are advertised as condos, but I have a feeling you are correct, they are only for 30 year leaseholds. Just want to know if anyone knows of any that you can actually buy on Samui.

[Boater]

There are some condos on samui which are under the Thai regulations of foreign freehold ownership .

Replay in bangrak is one , but all there foreign quota is gone , I also believe Narash condo near the ring road was on a condo licence

[mjj]

Boater, I went to Replay and they looked at me as though I was an alien (which I am in a different context) when I asked about owning.

Interested to know if anyone else knows of some condos available to buy.

[Leckyman]

Try Horizon homes in Cheong Mon,

they are to build around 100 condo's/apts..

[Boater]

Try Horizon homes in Cheong Mon,

they are to build around 100 condo's/apts..

Had a brief look at these apartments but they are very over priced for off plan ! Also I do not think they have the correct condo licence for foreign ownership , and will be lease hold

The new development ' the nest. ' might have a condo licence , it's in the right area and owned by Thais , but due to the location and the very high possibility of flooding I would be inclined to purchase there

The park in Chong mon had a condo licence ( although they are town houses ) and I believe they have a few resales there , as well as whispering palms condo in chewang , who have a couple of studio and 1 bed resales on foreign ownership

[nowork114]

Depends on the land lease. For example Ascott Suites (Sathorn Rd, BKK) has a lease for 99 years so any unit purchased in the building will have approx 85 years lease.

[54321]

And replay seem very nice. You could always buy of a foreign national if you can find one for sale.

I have been trying to find one there at a reasonable rate for some time now

There are some condos on samui which are under the Thai regulations of foreign freehold ownership .

Replay in bangrak is one , but all there foreign quota is gone , I also believe Narash condo near the ring road was on a condo licence

[Boater]

Depends on the land lease. For example Ascott Suites (Sathorn Rd, BKK) has a lease for 99 years so any unit purchased in the building will have approx 85 years lease.

There is no such thing in Thailand as a 99 year lease , the maximum lease allowed in Thailand is 30 years which can be extended by another 30 years x 2

[Leckyman]

Try Horizon homes in Cheong Mon,

they are to build around 100 condo's/apts..

Had a brief look at these apartments but they are very over priced for off plan ! Also I do not think they have the correct condo licence for foreign ownership , and will be lease hold

The new development ' the nest. ' might have a condo licence , it's in the right area and owned by Thais , but due to the location and the very high possibility of flooding I would be inclined to purchase there

The park in Chong mon had a condo licence ( although they are town houses ) and I believe they have a few resales there , as well as whispering palms condo in chewang , who have a couple of studio and 1 bed resales on foreign ownership

You should re read your post Boater, in the 3 paragraphs you state, think, might & i believe ! So you actually 'know' nothing then?

[Boater]

Try Horizon homes in Cheong Mon,

they are to build around 100 condo's/apts..

Had a brief look at these apartments but they are very over priced for off plan ! Also I do not think they have the correct condo licence for foreign ownership , and will be lease hold

The new development ' the nest. ' might have a condo licence , it's in the right area and owned by Thais , but due to the location and the very high possibility of flooding I would be inclined to purchase there

The park in Chong mon had a condo licence ( although they are town houses ) and I believe they have a few resales there , as well as whispering palms condo in chewang , who have a couple of studio and 1 bed resales on foreign ownership

You should re read your post Boater, in the 3 paragraphs you state, think, might & i believe ! So you actually 'know' nothing then?

Correct , I don't think they have a condo licence as I haven't personally checked with the land office , the nest might have a condo licence as the location and build would suggest they might , but again I haven't personally cheeks at the land office , and I believe they might have resales at the 2 developments as they previously did and do advertise being for sale , but again I haven't personally checked ...

[samui543]

Whispering Palms Condo confirmed has plenty of foreign ownership quota resales. PM me for more details Mjj

[Boater]

Try Horizon homes in Cheong Mon,

they are to build around 100 condo's/apts..

Had a brief look at these apartments but they are very over priced for off plan ! Also I do not think they have the correct condo licence for foreign ownership , and will be lease hold

The new development ' the nest. ' might have a condo licence , it's in the right area and owned by Thais , but due to the location and the very high possibility of flooding I would be inclined to purchase there

The park in Chong mon had a condo licence ( although they are town houses ) and I believe they have a few resales there , as well as whispering palms condo in chewang , who have a couple of studio and 1 bed resales on foreign ownership

You should re read your post Boater, in the 3 paragraphs you state, think, might & i believe ! So you actually 'know' nothing then?

Correct , I don't think they have a condo licence as I haven't personally checked with the land office , the nest might have a condo licence as the location and build would suggest they might , but again I haven't personally cheeks at the land office , and I believe they might have resales at the 2 developments as they previously did and do advertise being for sale , but again I haven't personally checked ...

OK, so Samui453 has stated there are available units at WP condo

The Horizon Homes development will be leasehold, no condo licence or freehold foreign ownership - http://horizon-residence.com/more-information/method-of-ownership/ , the Nest will be Condo Ownership with a foreign Quota - ( This is a full condominium - with Foreign freehold titles on 49% of total available units.)

[falkan]

dont buy anything you cant own, and leasehold is a joke, 30 years then you are out!

[fish fingers]

lease (30+) is seen as the safest way to buy anything other than a condo

30 yrs most farang either lost their money to lady or crook or dead

[chiangmaibruce]

I just put "foreign freehold on samui" into google and came up with a few listings (naturally you would check/confirm prior to committing)

[SDM0712]

Hi

My agencies are in London and Phuket so that restricts my area of expertise, but as far as I know the Thai condominium act extends to the whole of Thailand. If a condo is sold under this, commonly referred to as a " Foreign Freehold Title" there is no reason why you cannot buy such a property in your own name. I can't really comment on the Samui market but if you would like I can pass you the the details of an English chap working for a largish Developer building a number of projects there. PM me if you want an intro.

Regards

Stephen

PS If anyone offers you a 99 lease beware because there is no such thing in Thailand. Under Thai Law the maximum lease term that you can be given is 30 years. What many sellers do is to offer what they call a 90 years lease, but in reality it is a 30 year lease with two contractural promises to extend by another 30 years, three decades later and again after a further three decades. I am however not aware of such an arrangement being challenged in a Thai Court, for example what would happen if your freeholder decided not to renew and to break his promise in 30/60 years. You may very well be unconcerned but if a case were brought, and the lessor lost, it would undermine all values of properties sold in this way and "Case Law" would establish a precedent that this system of promising extensions is legally unsafe.