Foreign ownership of Condominium Property
According to Thai Law, foreigners may own 49% of the aggregate saleable unit space of a condominium building while the remaining 51% must be owned by either Thai nationals or majority owned Thai companies.
The Sales Process
Pre-completion payment (5%)
- A) Reservation: Make a deposit of THB 5,000.00 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 7 days of the date on the reservation contract or 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 which is deducted from THB25,000 of contractual payment into 12 periods.
Balance payment (95%) is to be completed when transferring
- A)Transfer Fee - Calculated as 2% 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 square metre and is payable upon transfer of title deed.
- C) Advanced Juristic Fees - Paid in advance on THB40 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, security, pool maintenance, etc.
Disclaimer - Information provided should be used as a guideline only. We suggest that you refer to our professional sales team at email@example.com or tel. 1685 and a legal advisor before buying a property in Thailand.