Criteria to Owning a Property in Bangkok for Foreign Nationals  

0
51

 

If you always wanted to settle in Bangkok due to its mesmerizing lifestyle and career opportunities, then this is the perfect opportunity for you to do so. Bangkok is a growing hub for real estate. Here, you can get a lot of townhouses, homes, flats, and condos at economical rates.

Adhering to the Thai Laws

 

Thailand has certain laws applicable to foreigners when it comes to property purchases. As per Thai law, you can purchase freehold condos, if you do not exceed their foreign quota ratio which is at approximately 49% of their saleable land.

Secondly, you will also need to get a document from the beneficiary bank known as the “Foreign Exchange Transaction Form”. This form will be issued once you transfer the amount required to purchase your home from your bank. This document then needs to be submitted to the Thailand Land Department for them to approve your request.

It is always better to go through credible real estate agents such as Homeday, situated in Nonthaburi. Thailand. If you are looking for a townhome and are not sure which would be the best choice for you, you can rely on their team of professionals to offer you a townhome review (รีวิวทาวน์โฮม, term in the Thai) of all properties in and around Thailand.

You can even make use of their loan calculator to understand how much installment you might need to pay based on your minimum monthly income.

Owning a home in Bangkok has a lot of benefits. One, you can easily rent it out as a commercial property, or a guesthouse and earn profits from it. You can even consider making your home a vacation home wherein you and your family can enjoy some personal time.

Look Before your Leap When it comes to Bangkok Properties

You might get amazed by the “offers and deals” showcased by many real estate agents on their properties, but verifying their credibility is totally up to you.

Certain tips that can help you make the right decision on your property include:

  • Go in with licensed real estate companies
  • Ensure that you hire a Thai lawyer who is well versed with the Thai laws
  • Be transparent with your requirements with the real estate company for your property
  • Be specific when it comes to mentioning your budget and location
  • If you are in Bangkok, ask for an inspection of the property
  • Try negotiating the property prices. You never know, you can get your home at a discounted rate
  • Upon finalization, check to see if all the clauses are mentioned in the purchase agreement
  • Ensure that when you sign the dotted line on the Purchase agreement, it is as per the Consumer Protection Law

If you are purchasing a resale property, then check to see if the property needs repairs. If yes, then the seller needs to get the same fixed and then let out the property. Last, but not least, you need to complete the registration date, so that the seller can hand over the keys and the registration documents to you.

Conclusion

If you are looking for a relaxed lifestyle, then investing in Bangkok properties is the perfect choice for you. You just might need to put in some time and effort in searching for your perfect home.