What constitutes a condominium

[Fireyfish]

Hi fellow earthlings ... As I (quickly!) approach pension age I am starting to think about living part of the year in Thailand, initially 3 months on 3 months off, I will rent but I am tempted to buy when I see some of the properties that are for sale. I know foreigners can own condominiums but what constitutes a condo? Is it only an apartment or does a 'villa' in an estate fit the definition ... sorry if this question is answered elsewhere.

cheers

[Crossy]

Moving to Real Estate for targeted responses.

[allane]

"Condominium" is a form of land tenure (ownership), not a form of architecture. In a condominium, an individual owner owns a fractional share of the common property, as well as his individual unit.

You didn't ask this, but I am going to tell you anyway, since I think you might be a newcomer. When a foreigner buys a condo. in Thailand, the money he uses must have come from abroad, and must be earmarked for that purpose when it is brought in. Otherwise, you won't be able to eventually take the money out of Thailand.

The Condominium Act is available in English. Read it before proceeding, and also consult a knowledgeable banker. Do not rely on advice from salesmen, owners or friends.

[Crossy]

Useful information and a link to the Condominium Act here http://www.thaivisa.com/forum/topic/320264-the-condominium-act-and-definition-of-a-condominium-in-thailand/

[KittenKong]

"Condominium" is a form of land tenure (ownership), not a form of architecture.

The English translation of the condo act refers specifically to "building" in the singular and to "apartments". I dont know what words the original Thai version uses, and Thai is not exactly the most precise of languages, but I suspect that individual villas built on shared-ownership land would not qualify. So to that small extent the condo act does indeed seem to be concerned with architecture.

One thing that encourages my belief is that I see few if any developments of villas being marketed as condos, though I would expect that such developments would be popular with farangs if they could be legally marketed.

[NoBrainer]

There are some (but very few) condominium buildings that also have a small amount of Villas/Townhouses on the same property and as part of the development, come under the condominium definition. You are able to have a Title for the fully detached building, but you still only own a fraction of the land that it sits on.

I have seen some very nice ones, where it looks like a house on the front of a beachfront tower, but is actually part of the condominium. Quite pricey though.

Edited June 14, 2015 by NoBrainer

[masuk]

Condo designs here certainly seem to lack imagination. Almost all of them are without any form of shading, and in my current room,. I get more than 6 hours of sun directly into the room. Curtains cut the light but not the heat.

[Mousehound]

It would be interesting to see if what is termed a "terraced" house or unit, that is a row of dwellings sharing a common wall with its neighbours that are on communal land coming on the market now. These are very appealing as you get a small garden allocation/ parking area and are of course at ground floor level (1st floor for Americans). With logic you would think foreign ownership should be OK as the land is not owned by the individual but rather is shared. However, I am nervous about official Thai interpretation and would want a good lawyer to advise the legality of foreign ownership of such a dwelling.

[steve73]

Houses on some small "resort estates" can be legally owned by farang, but the land it sits on is usually leased from the property developer, often on a 30 year basis (renewable each time a property changes ownership). In addition there can be punative site management fees.

Although this sounds good in theory, in practice it can be quite problematic.. Since the land the house sits on remains part of the overall chanote, Thai buyers are usually uninterested, this tends to make resale values far below market par....which of course can be good if you're buying.

Usually best to contact any farang sellers direct, if possible, as buying through the management company tends to jack up the price..

[Fireyfish]

Thank you Crossy and all others for comments ... I think I'm getting a handle on it ... I think rental is going to be my best option ... 3 months here 3 months home etc .... it seems as though most condos for sale are in the more touristy places that don't really appeal to me .... is there anyone here living reasonably well on 12,500 baht/week? that will be my approximate budget maybe 15,000.

cheers

[dotpoom]

One shouldn't get the idea that it's a complicated business buying a condo (flat, apartment) in Thailand, might be possible to think that from reading some of the replies. Personally, I couldn't believe how easy it was the first time I bought one here, got it all done in one or two days, compared to months back home, it was as easy as buying a car. The money though does have to come in from outside Thailand (but any agent worth his salt can get around that).

[NancyL]

It's a good idea to rent for a year or so in a location where you think you'll like to live and then you'll know the answer to questions like if it's possible to live on 12,500 baht/week and is a villa a better alternative than a condo?

In general, rentals are a very good value (and readily available) here because many people buy real estate with the idea of investing for rental income. It's said you shouldn't invest anytime more than you can afford to walk away from.

[cheeryble]

50-65,000 a month living expenses?

Yes you could live very happily.....if not lavishly.....on that, preferably not in the more expensive areas like Phuket, Bangkok etc where you would be squeezed. Better Chiangmai or Chiangrai or more countrified places if you like that.

CM you can get a non-luxurious but very nice roomy studio condo, pool downstairs, for about 10,000 - 12,000.

Just last month we rented a holiday let for a month in Chiangrai for 7000.....modest size but equipped for bit of cooking and perfectly OK for a single man....and they could be even cheaper. Also pool.

Many live on much less but it requires a bit of discipline.

It would help greatly to have a considerable reserve fund to cover large one offs like medical expenses.

Edited June 14, 2015 by cheeryble

[cracker1]

Fireyfish.

You should direct you question to the "Ask the Lawyer" section on this site. I think

[rhodie]

Thank you Crossy and all others for comments ... I think I'm getting a handle on it ... I think rental is going to be my best option ... 3 months here 3 months home etc .... it seems as though most condos for sale are in the more touristy places that don't really appeal to me .... is there anyone here living reasonably well on 12,500 baht/week? that will be my approximate budget maybe 15,000.

cheers

Living expenses are different for everyone, but there are many threads on the amount if you search. Anywhere from 30,000 is doable. 60,000 would be comfortable. Good Luck.

[shaurene]

Hi Fireyfish.

Google it and you will have your answere. But do not buy if you plan 3 on 3 off.best bet to rent you will get good deal on a 3 month contract and not have to pay all the extras like the management fees.

Hope you can stand the heat.

[bangkoklawyer24]

If it is named a condo, then it is a condo. If it is no condominium juristic person, then not.

[Fireyfish]

Thanks guys I appreciate the comments

[trogers]

Condo designs here certainly seem to lack imagination. Almost all of them are without any form of shading, and in my current room,. I get more than 6 hours of sun directly into the room. Curtains cut the light but not the heat.

The first law of condo design in Thailand is maximum sales area...thus the typical cluttered dormitory layout.

[tingtongfarang]

Thanks guys I appreciate the comments

In my experience houses are much cheaper to rent than a condo, even in bkk its possible to find a 2-3 bedroom house with garden and private parking for around 5000 per month.

[Sviss Geez]

Thanks guys I appreciate the comments

In my experience houses are much cheaper to rent than a condo, even in bkk its possible to find a 2-3 bedroom house with garden and private parking for around 5000 per month.

Where in Bangkok would that be? I'd be interested to see if you could point out just one of those bargains, seriously. Or do you mean 5000GBP per month?

[trogers]

Thanks guys I appreciate the comments

In my experience houses are much cheaper to rent than a condo, even in bkk its possible to find a 2-3 bedroom house with garden and private parking for around 5000 per month.

Where in Bangkok would that be? I'd be interested to see if you could point out just one of those bargains, seriously. Or do you mean 5000GBP per month?

I think he meant the surrounding provinces of Bangkok...about an hour and a half drive to CBD in the morning peak hours.

[rak sa_ngop]

The English translation of the condo act refers specifically to "building" in the singular and to "apartments". I dont know what words the original Thai version uses, and Thai is not exactly the most precise of languages, but I suspect that individual villas built on shared-ownership land would not qualify. So to that small extent the condo act does indeed seem to be concerned with architecture.

My condo actually consists of 4 separated buildings surrounding the swimming pool, so in this case 'building' actually allows 4 buildings to be part of one 'condominium'.

Each building comprises about 40 units but maybe individual buildings with one unit would not be allowed.

If it were allowed surely it would be a popular way of buying your house (on shared land).

[KittenKong]

My condo actually consists of 4 separated buildings surrounding the swimming pool, so in this case 'building' actually allows 4 buildings to be part of one 'condominium'.

Each building comprises about 40 units but maybe individual buildings with one unit would not be allowed.

If it were allowed surely it would be a popular way of buying your house (on shared land).

Yes, quite a few modern low-rise condos are like yours. I also know some where each building is a separate condo entity with its own JPM, and where just one building owns the pool and residents of the other buildings pay a fee to use it.

I agree that if individual houses/villas on a shared plot could legally be described as a condo then there would surely be a lot of them around.

[blackcab]

Thanks guys I appreciate the comments

In my experience houses are much cheaper to rent than a condo, even in bkk its possible to find a 2-3 bedroom house with garden and private parking for around 5000 per month.

Where in Bangkok would that be? I'd be interested to see if you could point out just one of those bargains, seriously. Or do you mean 5000GBP per month?

I think he meant the surrounding provinces of Bangkok...about an hour and a half drive to CBD in the morning peak hours.

It can be 30 minutes from Sukhumvit 39.