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 .
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.
The Thailand Condominium Act defines a condominium as a building that can be separated into units for individual ownership and which include personal and common properties (land on which the building sits, hallways, elevators, etc.). A building permit for a condo would not be allowed under the Building Control Act.
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.
Yes, condos generally appreciate in value. That’s true of any piece of property—as long as it doesn’t have wheels or come from a trailer park. But, if you’re trying to decide between a condo or a house, keep in mind that a single-family home is usually going to grow in value faster than a condo will.
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 .
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.
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.
Buying a Villa Given restrictions on land ownership, foreigners cannot own a villa outright, rather they must purchase a leasehold agreement. In general, this process is straight-forward and you should expect an offer of a 30-year lease on any villa or home, which is the maximum duration for any leasehold in Thailand .
Newly built average condos generally cost around 90,000 baht per square meter while super luxury condos can cost more than 250,000 baht per square meter. Naturally, condos in high-demand prime areas like Lumpini or Silom are going to cost far more than suburban districts.
Buying a condo in Bangkok can be a good investment . A simple studio,1BR can cost about 2.4MB t 3 Million Baht minimum. That can be rented for about 13–16,000 baht per month. a good location will ensure a high rate of occupancy and higher demand which lead to increase in value.
Buying a condo is generally the only way foreigners are allowed to purchase real property in Thailand outright. Other options include negotiating a long term lease (up to 30 years) or buying real property using a Thai dummy corporation, a practice which, although common, is technically illegal.