Introducing Thailand Property

Introduction

 Thai culture has always been greatly influenced by China and India giving an exotic blend for which The Kingdom of Thailand has become famous . Thailand property is fast becoming the desire of overseas property buyers is is accessible , affordable and a great place to buy property abroad. Buyers in Thailand tend to be  mostly investors who are looking to cash in on the booming tourist industry however with increasing demand this is set to change.

There are some restrictions on the area, for example foreigners are not allowed to own the land in Thailand, they may only own the building on such land. Another restriction is found on freehold condominium where only 49% of the development can be sold to foreign buyers.

Buying process

The process of buying in Thailand can be complicated, but with good research, advice and an English-speaking lawyer, most of these complications can be avoided.

If you are planning on buying land, or a villa then you will be required to setup a Thai company which will cost around £1,000 and will also have on going fees of around £50 per month.

Once you've found the property you want, the agent will prepare a purchase agreement that will detail price, terms and conditions, settlement date etc. In most cases a 10% deposit will be required to secure the property (in most cases this is refundable should the sale not go through, as long as it was not your fault).

Finance

Mortgages in Thailand have always been notably impossible to get and have put many buyers off. Recently though a new branch of the Bangkok Bank has opened in Singapore, which has opened up borrowing possibilities. You should expect to get no more than 50% in finance, with the exception to some well-known developments where finance of nearer 70% is available.

HSBC has a presence in Thailand, they can offer loans of between 1,500,000 and 35,000,000 Thai Baht, typically they will lend up to 80% of the purchase price and interest rates can be fixed for up to three years.

Thailand useful links

• Tourism authority
• Travel Information
• CIA - The world factbook
• Thailand.com website
• Bangkok Post

Finding a Thai home

If you're serious about finding a Thai property, then why not use our unique property finding service which will take the hastle of finding an agent who meets your needs.

Make a new property finding request

 

Fact file

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