A Guide To Buying Your First Property in Thailand
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Buying a property in any country can be quite daunting, especially if it is country that is relatively new, but here in Thailand things aren’t as complex as they are in some other countries in the world.
However, it is important to understand some of the fundamentals before you go diving in head first. Firstly, it is important to understand the concept that a foreigner cannot buy LAND in Thailand in their own name.
So, we have established that a foreigner cannot purchase land but they can purchase, freehold, personal name, units in a condominium building. The foreign quota in a condominium is always set at a maximum of 49% with 51% remaining in Thai ownership.
This 49% is the living area of the condominium and not the total area and this can be a common misconception. What this effectively means is that common spaces such as corridors and entrance halls are not included. And for the purposes of this article will focus primarily on condominiums for living or investment purposes.
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