thai/alien condo carve up?

[evenstevens]

fine its a 51%thai..49% alien title deed ownership(condo act 2008)

what is the mechanics to reach this figure??,number of units or sq metres sold??? or,????????????????

the *great one* mesquite from another acute angle , touched on a live tin of worms, on my last thread, condo title deeds ( where i happily moved on, due to being subjected to a unnecessary personal hits, by two members for no reason at all ) perhaps we may learn from what the great one has got to say??

but the opening post is my main objective

thks in advance,all have a pleasant afternoon

Edited May 29, 2014 by evenstevens

[Chicog]

"a) not more than a percentage of 49% of the total unit floor area in a condominium can be foreign owned, the remaining 51% must be owned by Thai natural or juristic persons"

[northernjohn]

"a) not more than a percentage of 49% of the total unit floor area in a condominium can be foreign owned, the remaining 51% must be owned by Thai natural or juristic persons"

That being the case it could make difference in the resale.

Not that it is happening but 75% could be owned by foreigners who are the residents but 51% owned by Thai's just that they have much bigger units.

To be honest with you OP I don't think it will make a difference. Would be nice to hear from some one who has owned and sold and it made a difference. I didn't see any takers on the other thread for that.

[mesquite]

didn't we just beat this to death?

[northernjohn]

didn't we just beat this to death?

Yes we did came up with a lot of discussion but no one really with experience in having a problem with either one. More like a same same but different answers.

[justcruisin]

There seems to be a lot of mis-understanding regarding the 49/51 ruling.

The figures are derived from the total floor area (Sqm) of the condos converted to a percentage for each room.

This means then that a Thai can buy a foreign owned condo and conversely it is possible that foreigner can buy a room that is in the 51% from a Thai and put it into his/her name.

It is the Juristic persons role to oversee the transfer at the land office and verify what percentage the unit comes under.

I have found that a condo in the 49% ownership nearly always demands a higher sale price.

[evenstevens]

^^^^^^slam dunk

[Thighlander]

"Living area" might be a better term since the "floor space" contains common areas, and living area includes half the thickness of the walls and balcony space. A farang, who (unwisely) sets up a Thai Company, will not have his space counted in the 49%. As the foreign quota is approached; it does create an interesting dynamic on prices/values. I observed this, when I was looking at Galae Thong a few years ago.

[ubonjoe]

Moved to the real estate forum.

[NancyL]

I think the OP was looking to find out how often buildings in Chiang Mai have the problem of reaching the point that they hit the ceiling of 49% alien ownership. So far, all he learned is that Galae Thong came close to this point and the market dynamics changed for that building -- but no details were provided. Don't know if he'll learn more about Chiang Mai dynamics here.

But in this forum, he probably won't have to deal with people who don't understand the reason for the question and instead are judging him for buying a condo as his primary residence and considering titling it in the name of a key Thai person in his life.

Edited May 31, 2014 by NancyL

[wales01]

I think the OP was looking to find out how often buildings in Chiang Mai have the problem of reaching the point that they hit the ceiling of 49% alien ownership. So far, all he learned is that Galae Thong came close to this point and the market dynamics changed for that building -- but no details were provided. Don't know if he'll learn more about Chiang Mai dynamics here.

But in this forum, he probably won't have to deal with people who don't understand the reason for the question and instead are judging him for buying a condo as his primary residence and considering titling it in the name of a key Thai person in his life.

Galae Thong has already reached the 49% quota.