Can a foreigner buy a condo in Bangkok?

Can foreigners own condo in Thailand?

Thai law is very restrictive when it comes to foreign real property ownership. Buying a condo is generally the only way foreigners are allowed to purchase real property in Thailand outright. … The total area of the condo units owned by foreigners cannot exceed 49% of the total area of all saleable condo units.

Can you buy a condo in Bangkok?

Who Can Buy a Condo in Bangkok? Anyone can buy a condo in Bangkok, but expats need to note these two rules: They can only buy a unit in a condominium where less than 49% of the units are owned by foreigners. The money used to buy a condo must be paid from outside of Thailand.

Can I live in Thailand if I buy a condo?

Foreigners are prohibited from buying land in Thailand, but they can buy condos or apartments.

Can foreigners buy property in Bangkok?

Foreigners are legally able to purchase up to 49% of the registrable area of a Condo Project (Foreign Quota). The remaining 51% can only be owned by Thai nationals or Thai entities. Therefore, foreigners looking for straightforward and hassle-free property ownership in Bangkok are advised to consider buying a condo.

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Can I live in Thailand permanently?

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.

Can a foreigner get Thai citizenship?

Many foreigners are eligible to be naturalised and become Thai citizens and with certain exceptions (such has holding office in the Senate or House of Representatives and voting ability until five years after citizenship is granted) enjoy the same rights, benefits and obligations as a person born Thai.

How much does a condo in Bangkok cost?

An average one-bedroom condo with few amenities in Bangkok’s suburbs will generally cost about 1 million baht, or roughly $32,000, to 2.5 million baht, or roughly $80,000, Those numbers differ widely depending on how close the condo is to the city center and public transit.

Can you own a condo unit forever?

While a landlord can clear out a rental building at any time, assuming there are no complicating rent control regulations, a condo is yours forever.

Is it a good time to buy a condo in Bangkok?

Thousands of new condos continue flooding on to the Bangkok market even when mortgages are very difficult to get. This put a pressure on developers to reduce prices and offer deals to buyers. … Now, when market is down, is the smart time to buy property in Bangkok.

Is it easy to buy a condo in Thailand?

The process of buying a condo in Thailand is fairly easy, and only a few requirements must be met: The property purchased must be part of the project’s 49% surface that could be owned by foreigners. This can be easily verified at the developer’s office directly with the juristic responsible.

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How much is a condo in Thailand?

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).

Cost of a Thai Condo.

Level Price per m²
Mid-Range ฿70,000 – ฿89,999
Upper-Mid-Range ฿90,000 – ฿119,999
High End ฿120,000 – ฿199,999
Luxury ฿200,000 – ฿299,999

Do I need a lawyer to buy a condo in Thailand?

Buying any Real Estate in Thailand be it a house or a condo requires the services of a reputable law firm. Once you have decided which real estate you are going to purchase, always consult a lawyer before signing any documents. … Note the type of Title Deeds in Thailand. Review the contracts before signing.

What is a good salary in Bangkok?

Average Salary in Bangkok, Thailand

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.

How much money do you need to live in Bangkok?

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.

Is it hard to get Thai citizenship?

Becoming a citizen of Thailand is a lengthy and difficult process. Before even applying for citizenship, you need to be a permanent resident of Thailand for 5 years living there continuously, (which includes 3 years of owning a business in Thailand or working for a Thai company).

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