Buying Real Estate in Thailand is not complicated, and we at Aqua Property Group are qualified in the knowledge of helping you throughout the process. Please read how below, and if you have questions contact us and we will be pleased to assist you.

Decisions, Decisions....

Deciding what to buy?

Find a good real estate agent who can help you decide on what type of property you would like to buy. Is the purchase for investment only, a holiday home, somewhere to retire or are you relocating and require a permanent base? A good agent should be able to understand your requirements and then assist you with selecting the right type of property which best meets your needs, in terms of size, location and budget.

Finding a good lawyer

As like most professions there are good and not so good lawyers. As a consumer, we recommend you look around, ask friends and consult a reputable real estate agent to help you decide on which lawyer to use. We only recommend lawyers which have a proven track record of providing good customer service and satisfaction.

Property ownership

Property ownership in Thailand is not so unlike other countries. It may seem a little complicated to a few, as many people have their own interpretation on current laws, this has then lead to confusion for the buyer. Amendments to property law have varied slightly over the last few years, but these changes have always been to protect the consumer and install confidence. We try to simplify ownership to our customers and explain how easily it can be achieved, as detailed below.

Freehold

Freehold ownership can be granted to a foreigner if they buy into 49% of the allocated foreign quota, in any particular condominium development. When purchasing this type of property, funds should be remitted from abroad and correctly recorded through a Thai Bank by means of a certificate called tort tor sam. The owner will then own the unit outright in their name for an infinite number of years.

A foreigner can also own a freehold structure built on a parcel of land in their own name, which will be registered at the local land office. The ownership of the land it sits on can only be owned by a Thai entity, either an individual or corporate. This land can be leased by a foreigner for a maximum period of 30 years. Many people have this agreement extended a further 30+30 years, in total 90 years. This can be easily arranged through a good lawyer, who can also in the event of a change in property law stipulate the chance to acquire the land as freehold.

Leasehold

Leasehold ownership is granted when either buying into the leasehold allocation of a condominium development or a parcel of land. In both cases the term is registered for a maximum period of 30 years, with options to extend for another 30+30 years, in total 90 years. Again this can be easily arranged through a good lawyer.

Land Titles

There are several types of land titles in Thailand, but we only list properties which are the most secure, Chanote, Nor Sor Sam Gor or Nor Sor Sam.

Chanote

Chanote ownership is the best type of land ownership available. The land is surveyed by means of GPS to ascertain the exact boundaries. The entity or person who owns the land has the legal right to it and this is detailed on the certificate. Many investors look to purchase this title as a variety of construction options can be applied.

Nor Sor Sam Gor

Nor Sor Sam Gor ownership means the owner can sell, lease or mortgage and build upon it. The owner can also apply to upgrade this title to Chanote.

Nor Sor Sam

Similar to the above, however the formalities to the right of use have yet to be completed. If a transfer is due, you must publicly post the intent before the status can be officially registered.

Property Acquisition Taxes and Fees

There are of course just like every other country taxes when buying and selling property in Thailand, in particular the following:

Stamp Duty

0.5% - on all purchase/sale of property in Thailand.

Transfer Fee

0.01% - paid at the local land office.

Business Tax

0.11% - levied against an owner who has been in possession of a property less than 5 years.

Income Tax

2-3% - of the acquisition price.

Legal Fees

We do not offer legal services to our customers, but we can recommend reputable and reasonably priced lawyers, who we have found to offer the customer a good service. We believe you should consult at least two before deciding which one to use. Expect to pay from 50,000THB-100,000THB, depending on the complexity of your acquisition.

Land Measurements

1 Rai = 1,600 m²
1 Ngan = 400 m²
1 Wah = 4 m²
1 Hectare = 6.25 Rai (approx)
1 Acre = 2.5 Rai (approx)