Foreign ownership of Condominium Property
According to Thai Law, foreigners may own up to 49% of the aggregate saleable unit space of a condominium building while the remaining 51% must be owned by either Thai nationals or Thai majority owned Thai companies.
The Sales Process
- A)Reservation: Make a deposit of THB 5,000 for studio unit or THB 10,000 for 2- Bedroom unit. Deposit 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 25,000 for studio unit or THB 30,000 for 2 -Bedroom unit is required upon the signing of the agreement.
- C)Down Payment: Make a payment of 5% of total value of contractual payment, less THB 25,000 for studio unit or THB 30,000 for 2- Bedroom unit, of in 10 instalments. 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 THB500 per square metre and is payable upon transfer of title deed.
- C) Advanced Juristic Fees - Paid in advance on THB47 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 email@example.com or Tel. 1685, and consult a legal advisor before buying a property in Thailand.