Foreign ownership of Condominium Property
According to Thai Law, foreigners (as natural persons or juristic persons) may own up to 49% of the aggregate saleable unit space (not the number of total units) of a condominium building while the remaining 51% must be owned by either Thai nationals or Thai majority owned Thai companies.
The Sales Process
Pre-completion payment (5%)
- A) Reservation: Make a deposit of THB 5,000 for studio unit, which is completely recoverable by deduction from the contractual payment.
- B) Signing: The Sales and Purchase Agreement is to be signed within a short period following the reservation. THB 20,000 is required upon the signing of the agreement.
- C) Down Payment: Make a payment of 5% of total value of the contractual payment, less THB 20,000 over 12 instalments.
Balance payment (95%) is to be completed when transferring.
- A) Transfer Fee - Calculated as 1% of the sales price (subject to change by government policy); 50% paid by seller, 50% paid by purchaser upon transfer of title deed.
- B) Signing Fund - This payment is THB400 per sq.m. and is payable upon transfer of title deed.
- C) Advanced Juristic Fees - Paid in advance on THB35 per square metre per month basis.
Note: The Juristic Fee or management / maintenance fee is used for general monthly maintenance of the building, common areas, pool, security, etc.
Disclaimer- information provided should be used as a guideline only. We suggest that you refer to our professional sales team at firstname.lastname@example.org or Tel. 1685, and consult a legal advisor before buying a property in Thailand.