Buying Property

[jon_phillips]

Hi Guys,

I have been living in Bangkok for about a year now and it looks like I will be staying.

I am thinking of buying a condo. Can any one offer any advice to me as to how can I go about ? I understand farang cannot "legally" own property in Thailand but I have been told there are ways around it.

Thanks

Jon

[lopburi3]

A foreigner can own a condo. He can not own land. So if you plan to buy a condo and import money to buy it no problem. But think long and hard about the property you want to buy as the laws do not offer owners the protection they may expect and few condo buildings will offer appreciation that land/house may.

[Yohan]

There is no legal problem for a foreigner to buy his own condominium, but you have to pay with money from abroad, confirmed by a special form issued by the bank.

I do not recommend to spend much for your own condominium, I would say, not more than 60 to 80 sqm, and not over 1.5 million baht, with some nice furniture, all complete, not over 2 million baht.

If you live longer there than 5 years, you are generally better off to buy than to rent. -

It is better to buy something cheap and keep the rest of your money outside of Thailand.... you never know....laws are somehow flexibel in Thailand....

The ownership-regulation for smaller condominiums for foreigners should not change for a long period, I hope. No problem seen so far...

I am however not so sure about some legal contracts, which are constructing something like a Thai business owning a private house and land, where the foreigner does own the Thai business, but has no business in reality, however pays for it and is living inside his own Thai company house.......

Unless you are a total insider and have your own Thai wife and nice Thai family members around you, I strongly recommend you to refrain from such legal border-line contracts...this includes some Thai lawyers, too.

Johann