3 common questions on property purchases in Thailand

3 common questions on property purchases in Thailand:

Q1) What are the legal restrictions?

A: Foreigners in Thailand can legally purchase apartments and receive permanent property rights. However, for townhouse / villa / landed house, foreigners will not have permanent property rights.

Q2) What is the property purchase procedure in Thailand?

A: There are typically two ways to buy a home.

a) Off-the-plan:

  • Deposit
  • Contract payment
  • Instalments
  • Pay the balance and transfer
  • Obtain real estate license

b) Existing home:

  • Deposit
  • Signing fee
  • Pay the full amount and transfer
  • Access to real estate license

Q3) For foreign property owners away from Thailand for extended period of time, will there be option to lease out the property?

A: Yes. Fragrant and Sansiri are two examples of real estate company in Thailand. They provide purchasing, leasing and sales services. Property owners can get in touch with them to discuss their needs and requirement.