We talk about if buying a condo in Thailand a good investment and the length of stay you can get if you own a property in Thailand
Under the right circumstances, buying a condo in Thailand can be a worthwhile purchase and a good investment. If you are a foreigner interested in buying a condo in Thailand, you need to be aware of some issues. Thai law only allows foreigners to buy condos under certain circumstances.
Is it easy to buy a condo in Thailand? The process of buying a condo in Thailand is relatively easy, and only a few requirements must be met: The property purchased must be part of the 49% surface of the project that may be owned by foreigners. This can be easily verified at the developer’s office directly with the responsible jurisprudence.
Thailand is the number one tourist destination of Asia. It is recognized as a dream destination and is a great place for property investment. Many destinations are available and offer rental yield investments, from 7% to 9% net per annum.
In the fourth quarter of 2021, the average sales price per square meter of Bangkok condominiums in the central business district was about 240 thousand Thai baht.
Potential for rental returns and capital appreciation Prospective investors can, on average, make a gross rental yield of 4-6% on condos in Central Bangkok. In addition, Bangkok property prices have appreciated as a result of urban development and economic growth.
After successfully purchasing a unit, however, there is one more important issue for foreigners to address: their stay in Thailand is usually limited to a period of 30, 60, or 90 days—the periods usually granted under a tourist visa—after then they have to leave the country.
Can I live in Thailand if I buy a condo? Buying a condo is usually the only way foreigners are allowed to buy real estate in Thailand outright. Other options include negotiating a long-term lease (up to 30 years) or purchasing real property using a thin Thai corporation, a practice that is technically illegal, though common.
Simply put, Thai laws prevent foreigners from owning land in their own name, although there is an exception in theory but it remains to be seen in practice. Despite this, there are other options available for foreigners to successfully acquire land.
The Permanent Residence Permit allows you to stay in Thailand permanently without the need for a Visa. In addition, it is another step on the road to citizenship, and a Thai passport. This is an opportunity that the Thai government only gives to 100 people of each nationality per year.
When you move to Thailand, you will need to obtain a visa – a requirement according to the Thai Immigration Law. Most people who move to Thailand do so with a tourist visa (valid for 60 days) or a non-immigrant visa that is initially valid for 90 days and must be extended through Thai Immigration.
There are many good reasons to invest in Thailand property. The country has shown strong and steady growth in recent years and it looks like that trend will continue. House and land prices are generally rising, as well as rents, and this presents some interesting property investment opportunities in the market.
Is Bangkok a good place to invest in real estate? Is buying property in Bangkok a good investment? Definitely. Bangkok is a valuable business hub for Thailand and has long been one of the most popular tourist destinations in Southeast Asia. As a result, there is a healthy rental and resale property market in Bangkok.
Thailand is the number one tourist destination of Asia. It is recognized as a dream destination and is a great place for property investment. Many destinations are available and offer rental yield investments, from 7% to 9% net per annum.
In general, foreigners are not allowed to buy land directly in Thailand. Simply put, Thai laws prevent foreigners from owning land in their own name, although there is an exception in theory but it remains to be seen in practice.
In the fourth quarter of 2021, the average sales price per square meter of Bangkok condominiums in the central business district was about 240 thousand Thai baht.
How much should I pay for a condo in Bangkok? A typical one-bedroom condo with few amenities in the suburbs of Bangkok will cost about 1 million baht, or about $32,000, to 2.5 million baht, or about $80,000, these numbers vary greatly depending on how close the condo is to city center and public. transit.
A one-bedroom apartment in the center of Thailand’s capital Bangkok will rent you about $562 a month. When you include utilities, that cost reaches more than $640. Other monthly expenses are likely to increase between $600 and $700 per month.
| Level | Price per m² |
|---|---|
| Mid-Range | 70,000 baht – 89,999 baht |
| Mid-Upper Range | 90,000 baht – 119,999 baht |
| High End | 120,000 baht – 199,999 baht |
| Luxury | 200,000 baht – 299,999 baht |
Foreigners can legally purchase up to 49% of the registrable area of a Condo Project (Foreign Quota). The remaining 51% can only be owned by Thai nationals or Thai entities. Therefore, foreigners looking for simple and hassle-free property ownership in Bangkok are advised to consider buying a condo.
Can a foreigner own a condo in Thailand? There are no nationality restrictions and all foreigners who can legally enter Thailand (no visa class requirements) can purchase and own a condominium unit within the condominium’s foreign ownership quota, but all foreigners must personally qualify for ownership under section 19 of the Condominium Act.
There are two principles of restriction on the ownership of foreign condos. Firstly, foreigners may only own 49% of a single condo development. This is calculated based on the area of the condo units. The total area of condo units owned by foreigners cannot exceed 49% of the total area of all salable condo units.
It is a commonly unknown fact that while a foreigner cannot own land in Thailand, the house or structure built on it can. It is only necessary to apply for a building permit to build the house in his own name.
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