Do you dream of owning your own house or apartment in Thailand? You are not alone! Many foreigners long for a piece of paradise in this exotic country. However, buying property in Thailand is governed by specific rules. Read our guide and find out how to make your dream of living in Thailand come true.
Thai law does not allow foreigners to directly own land. However, there are legal ways to acquire real estate. However, the easiest way is still to buy an apartment. Apartments in Thailand can be owned 100% by foreigners in their own name. No complicated processes with starting a company or long-term lease.
Buying a house:
If you are looking for a house with land, you have the following options to choose from:
- Ownership through a Thai family member:
- Suitable for blended families where one of the partners has Thai citizenship.
- The property is registered in the name of a Thai citizen.
- It is important to thoroughly familiarize yourself with the legal regulations and conclude the necessary contracts (e.g. loan agreement, prenuptial agreement).
- We recommend consulting a lawyer.
- Long-term lease (Leasehold) for 30 years:
- Lease of land with real estate for 30 years with the possibility of extension for another 30 years.
- The contract must be registered at the land office.
- The tenant has the right to sublet or sell the property.
- The disadvantage is that you do not own the property.
- Ownership through a Thai limited liability company:
- A foreigner establishes a company that owns the property.
- At least 51% of the shares in the company must be owned by Thai citizens.
- By properly setting up the company structure, the foreigner nevertheless has full control over the property.
- This option is suitable for long-term investments.
House maintenance costs in Thailand
Before buying a house, consider the costs of its maintenance. For example, we have chosen a house with a plot of land of approx. 500m2 in a guarded area.
- Garden maintenance: 20-25 thousand THB per year
- Pool maintenance: 30-35 thousand THB per year
- Management fee in a guarded area: 30-70 thousand THB per year
- Cleaning: 1500 THB/cleaning
Key questions before buying a house in Thailand
- How much time do you plan to spend in Thailand? If you plan to live in the house only a few months a year, consider buying an apartment.
- What are your financial capabilities? Consider not only the price of the property, but also the costs of its maintenance and any fees associated with starting a business.
Do you need advice on how to buy a house in Thailand?
Contact us! We will be happy to help you choose a suitable property and answer all your questions.
