When considering buying or investing in property in Thailand, it’s essential to understand the various available property types in Thailand. The country offers diverse properties to suit different preferences, budgets, and lifestyles. Whether you are looking for a luxurious villa on a secluded beach, a modern apartment in the heart of the city, or a traditional Thai-style house in a rural setting, there is something for everyone.
Understanding the different property types in Thailand that are available can help you make an informed decision and choose the right property that meets your needs and requirements.
What are the most popular property types in Thailand?
Condos, apartments, villas, and townhouses are considered the most popular property types in Thailand.
1. Condos
Condominiums are one of the most common property types in Thailand. It’s a large building consisting of separate units with shared facilities. They are fundamentally a high-end residential title in Thailand due to their full facility service, such as gym & fitness center and swimming pool.
Many foreigners choose to buy a condo in Thailand because it’s a straightforward and hassle-free method for foreigners to own property in Thailand. Moreover, the government declared that any foreigner legally admitted to entering Thai territory can purchase a condominium because it’s generally a freehold property.
2. Apartments
In general, apartments refer to residential buildings owned by a single entity like a developer rather than individual landlords. Usually, they are constructed by prominent real estate developers, foreign and domestic, and their wide-ranged prices go from affordable to luxury.
Apartments in Thailand are mostly found in Urban areas such as Bangkok, Chiang Mai, and Phuket. Urban centers in Thailand, especially Bangkok, offer many apartment options. You can find everything from budget-friendly apartments to luxurious, high-end ones. In popular tourist destinations, numerous apartments are catering to short-term visitors. These are often available for rent daily, weekly, or monthly.
Apartments are one of the most popular property types in Thailand among locals and foreigners. Foreigners can buy apartments in Thailand, as long as they follow the Thai real estate regulations.
3. Villa
We can’t talk about the most popular property types in Thailand without including villas. Villas are undoubtedly trendy, especially in resort areas and on the islands. They offer more privacy and space, making them attractive to families and individuals seeking a more secluded lifestyle.
Although villas can be categorized as a residential homes to distinguish them from a typical area ‘house’. A villa is usually bought in a community and has many prime features. This includes a luxurious architectural design, a swimming pool, a garden of its own, and a big courtyard or vineyard.
4. Townhouse
Townhouses are a housing complex built in the middle of the city. These housing complexes are usually in the middle of urban areas, giving them easier access to roads and other accommodations. However, some of the characteristics of townhouses are that they do not have many houses and tend to be built only a few. This type of residential building is very popular in Thailand, especially in big cities such as Bangkok.
Thai rules in The Land Code Act Chapter 8, Section 86, stated that foreigners are prohibited from buying land in Thailand. Alternatively, foreigners can purchase land under a leasehold agreement and build their villa or townhouse on top. Another option is to buy land through a Thai company.
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Conclusion
It is crucial to remember that real estate trends, as well as the demand for specific property types in Thailand, the state of the economy, and governmental regulations, tend to change. Doing extensive research and consulting with local real estate experts and legal advisors before making any property investments is advisable.
Frequently Asked Questions (FAQs)
Can foreigners buy property in Thailand?
Generally, foreigners are not allowed to buy land in Thailand. There are law restrictions from the Thai government that generally foreigners are not allowed to buy land in Thailand directly. But there is one way to have a property, which is through leasehold. Foreigners can lease land for up to 30 years, renewable for another two terms of 30 years each. Ensure the lease agreement is registered correctly.
What are the best property types in Thailand to buy?
The best property types in Thailand to buy are probably condominiums, as foreigners can buy them under a freehold title. Besides, foreigners can purchase other property types in Thailand under a leasehold title or through a Thai company. However, condos tend to be the easiest for the buying process.
How much does it cost to purchase real estate in Thailand?
The cost of the property itself, taxes (including specific business and transfer taxes), attorney fees, and possibly real estate agent commissions are all included in the costs. In addition, condo or housing estate maintenance fees may apply.
