In terms of new condos, the starting price for a one bedroom, 22 sq meter property is around 1 million Baht (45,000 THB per meter squared). This would be the price of a basic condo away from the BTS / public transport and built by a developer such as Lumpini.
Under Thai law, up to 49% of the unit area of any condominium may be owned by foreigners . Provided the requisite Thai -owned percentage within a given development is maintained, a condominium unit can be fully and legally titled in the name of a foreigner .
Foreigners cannot buy land in Thailand , only condominium units and apartments . However, a foreigner can buy a whole building, minus the land on which it is built. In recent years, minor changes in Thai law have allowed nonresidents to explore the Thai real estate market.
Generally, foreigners are not allowed to directly purchase land in Thailand . Simply put, Thai laws prohibit foreigners from owning land in their own name, although theoretically there is an exception but it is yet to be seen in practice.
Buying a condo for investment is much more affordable than single-family homes and generally score higher rental income. However, with that said, condos often appreciate in value much slower than single-family homes. This is because you don’t own any land, which is a key factor to increase or appreciate a home’s value.
Under the right circumstances, buying a condo in Thailand can be a rewarding purchase and a good investment. If you are a foreigner interested in buying a condo in Thailand there are several issues you need to be aware of. First, foreigners may only own 49% of a single condo development.
Condominiums can be a good investment for the right buyer in the right location when times are tough , though they can be harder to buy and sell than a detached house. Before purchasing a condo , be sure to do your due diligence and check out the HOA, CC&Rs, and any tax and insurance situations.
You can apply to live in Thailand long term if you are married to a Thai or if you have a Thai child or children. The marriage visa for Thailand is issued at a Thai Embassy in your home country and it is normally issued as a single entry visa and valid for 90 days once you enter Thailand .
Chiang Mai is such an affordable place to live you can honestly live in Chiang Mai on $10 a day. That must be why there are 20,000 westerners retired and living in Chiang Mai because it’s so cheap to live there.
Obtaining status as a Permanent Resident (PR) in Thailand has many advantages. It allows you to live permanently in Thailand , with no requirement to apply for an extension of stay. You will also be able to apply for an extension of stay and Permanent Resident status for your non- Thai family members.
Average wages in Bangkok is pretty high compared to other areas of Thailand. Currently, the average wage in Bangkok is of 25,500 Thai Baht per month, or approximately 800 USD . Bangkok has some of the highest average salaries among ASEAN members capitals.
You should plan to live in Thailand on a budget of at least $1,500 per month, with $2,000 being a more reasonable benchmark. This will allow you to live comfortably without breaking the bank. You could potentially live a lot cheaper, as low as $1,000 a month, but you would probably have a difficult time.
It is not as easy to find a good job in Thailand as in your home country. But then of course it doesn’t mean it’s not possible and with the right approach I will show you here you will have a lot higher chances to find employment in Thailand than you might think.
Some people pay over 50,000 baht on rent, while some pay 30,000 baht . There are also those that pay around 15,000 baht and some that pay less than 5,000 baht a month. In other words, the cost of monthly rent varies hugely and depends on factors like location, type of housing, and facilities offered.
U.S. citizens carrying a tourist passport and in possession of an onward or return airline ticket do not require a visa to enter Thailand . Upon entry, Thai immigration officials will place an immigration stamp in the passport permitting a 30-day stay in Thailand if arriving by air or land.