Buying a Property in Bangkok, Thailand
Thinking to buy or rent a property in Bangkok? Now is a good time to make this investment. Note that in today market buyers can be easily overwhelmed by the range and amount of properties investment opportunities that Thailand has to offer.
Learning the market is very important step to do before you make your final decision to invest.
Use a Real Estate Agent that is expert in Condominums
Choose a real estate agent that you can trust to ensure you will receive the best advice before you buying. Your Agent will be able to help you to look after your investment and assist you with the rentals and future sale. You also want your Agent to provide you with a professional after sales service.
Your Real Estate Agent will point out for you of any developments or developers who are best to avoid and make safer recommendations of tried and tested developers for you to consider. Agents will provide you with the best possible information as they want you as their client and also to refer future client to them.
Foreigners can buy a condo in Bangkok?
Foreigners can buy condominium unit under their own name only if the condo unit that they are purchasing has an available foreign quota up to 49% percent of the sellable size of the condominium that is the maximum allocation to foreign buyers. In case that the foreign quota is already reached the 49% In building Foreigners will still may able to make a leasehold agreement for 30 year or more.
Note: In some cases, Developers are selling a Thai Quota unit in a lower price for the reason: it can only be sold to a Thai national or Thai company.
Purchasing Strategy Condominium
As a Real Estate Investor, you should look at your investment goals, when buying a condo, you should decide what are your needs: capital appreciation, rental yields, lifestyle, personal living or seeking for a future retirement. Low priced units may look the best value as an investment but bear in mind a high-density development of similarly sized maybe more difficult to rent and/or resell, if many similar units enter the market so supply could out market the demand.
Condominium Maintenance Fees
Before buying a condo always check the building management agreement and what are the maintenance fees. A general rule is that you get what you pay for. Some developments may require a very low maintenance fee or even giving you a promotion of 2 years of free maintenance but still expect that the property will be poorly maintained.
Common maintenance fee in Bangkok between THB45-60 per sqm for an adequately maintained building.
Use a Real Estate Lawyer when buying a condo
When you are buying a property in Bangkok it is not required to have a lawyer to complete the transaction but we do recommend using a real estate lawyer as he will read through the purchase agreement, handle the transfer process and fees.
A good lawyer will be able to explain toy the contract and make sure you understand everything fully.
Bangkok condo for Sale Condo for Rent
Properties for Sale and Renr by Districts: