Land for Sale in Thailand
Thailand is a great vacation destination that offers you huge tourism options, exotic surroundings and luxurious places to stay. Pristine, peaceful, restless and grand, it draws tourists in hordes every year. Thailand is a perfect mix of cosmopolitan culture with majestic places. If you are looking for a real estate investment, you must invest in property in Thailand. The topical climate, the lush green flora, the rare fauna, the breathtaking scenic beauty, the delicious cuisine, and above all, the extremely courteous people make Thailand a preferred destination also from the point of view of investors.
When searching for land for sale in Thailand, you must first be clear about what type of property you are really interested in. You may consider investing in a vacation home, villa, townhouse, commercial property, etc., depending on how you plan to use the property. Thailand has lately become a major real estate investment destination, mainly because real estate prices remain much lower than any European or American destination. Second, Suvarnabhumi-Bangkok International Airport has made international air travel to Thailand more conducive than ever before. Thirdly, it has impressive rental potential thanks to the huge tourist turnover each year.
Any foreigner looking to buy land in Thailand can do so by either of two options: lease or freehold. Foreigners are generally comfortable investing in condominiums, meaning of the total condominium units in any building you want to invest in, foreigners can own 49% and Thais 51%. Condominiums fall under the freehold category and with the proper assistance of a professional attorney, it is also possible to own the land outright.
When buying a condominium, it is advisable to check the following as security measures:
• Title check to ensure you are purchasing legal land from a legal owner.
• Have your attorney draft a purchase contract.
• Negotiate transfer fee payment and decide how much you would pay and how much the seller would pay at the time of sale.
For a rental property, a 30-year lease would be required on the house you wish to lease and renewal would be required after the mentioned period. Alternatively, you can also have a 30-year lease on a plot of land and build a house on it and rent it out. In such cases, ownership of the house remains yours and the land continues to be leased. Later, if you want to sell the house, you can do that too. If your buyer is a citizen of Thailand, you can sell the land along with the house. Otherwise, the lease of the land continues and the owner of the house changes.
Even though Thailand has the best infrastructure and living facilities, the cost of living in Thailand is quite low. This is another reason that has made Thailand an attractive destination to invest in land here.
