Investing in real estate in Thailand

By foreign nationals

Foreigners can own an apartment in a condominium in Thailand, but ownership of land or land and house is limited to only Thai nationals. It is under the Thailand Land Code Act not possible for foreigners to obtain outright ownership over land and house in Thailand. Foreign land ownership limitations apply but many foreign investors have been duped into believing that they can own land in their own name in Thailand.

Read more: Foreign real estate investment options in Thailand

Foreign currency exchange form

To qualify for foreign ownership under the Thailand Condominium Act a foreign purchaser of a condo unit is required to remit the full purchase price for the condo in foreign currency into Thailand, unless he is a resident in Thailand or eligible for foreign ownership under one of the other less common grounds of section 19 of the Condominium Act.

Read more: Fet-form, foreign currency exchange form

Buying off plan real estate

Housing and condominium developers in Thailand and escrow agreements

Off plan or pre-construction or under construction real estate developments in Thailand are usually financed by the buyers who pay deposits and price installments during the construction directly to the developer who uses these payments to finance the housing or apartment project. In the event of default or bankruptcy of the developer the buyers could lose all monies paid unless his payments were deposited in an escrow account held by a third party

Read more: Buying property Funds in escrow

Sublet and lease assignment

A sublease or sublet agreement in Thailand is the rental agreement in which the lessee rents all or part of his leased property to another person. In the sublet the lessee becomes the sub-lessor and the new tenant the sub-lessee or sub-tenant. The assignment of a lease is when all rights the lessee/ tenant (asignor) possesses are transferred to another party (assignee), subject to permission and consent of the lessor who enters into a new contract with the assignee.

Read more: Right to Sublet a Property one Holds by Lease