Dear Sirs!

Do you want to buy a stylish villa or a beautiful apartment in a condominium?

         An international real estate agency who is partnered with our law firm will offer you the best options, taking into account your individual needs and preferences.

       Many places on the island of Phuket are good for living and business but have some specific differences. The main thing for you is to choose your ideal location. You can start with the beach you like for example or, villa or apartment, number of bedrooms, terraces, views, beach or park within walking distance to schools or, shopping centers, parking and of course chose your ideal price.

         The Best options require time and attention!

         You do not need to waste time searching for objects. Only professionals can see the “pitfalls” of the local real estate market, know the real annual rate of return, possibilities of service and convenience of living! Any questions you may discuss with a professional realtor and lawyer.

         Buying a Condominium

         Currently, in Thailand, there is an active construction project in the form of condominium – a society of co-owners of an apartment complex. Legally regulated by “Condominium Act” (2008/2551).

      We encourage you to buy apartments that are ready to use and have full “registration of property rights”. In this case, you are guaranteed to buy what you can see and evaluate in reality not just in plans.

      There are significant advantages of buying an apartment in a condominium:

  • Nonresident can buy an apartment full ownership – Freehold and receive the certificate of ownership (Title deed) in his personal name.
  • Freehold property can be used as collateral in Thailand and can be inherited.
  • Cost of serviced apartments in Thailand is much lower than Villa’s.
  • The apartment is much more convenient to operate than a Villa.
  • Can be sold or rented very Quickly.

       Non-residents are choosing real estate in Thailand, according to the purpose of further use, for example – relaxation, investment or other business.

Let us consider the types of ownership in a condominium:

         Free hold Condominium assumes full ownership of the property, including tenure, use and disposal of real estate.

         Leasehold Condominium is the right of long-term lease with the possibility of accommodation and sublease. The contract is for 30 years with a prolongation 30 + 30. Regulation adjusted in Article 540 of the Civil and Commercial Code of Thailand. The Land Office registered only the first 30 years of the lease. Does the Developer restrict you, when you need to sell your apartment or fill Treaty for a new term, so before signing the deal you should carefully draw up a contract and provide many of the items that you do not have legal issues in the future?

         Buy a Villa

      Consider the advantages of buying a house or home ownership:

  • More living space
  • Lovely level of enjoyment and privacy
  • Self-management and maintenance

         The path to buying villas in Thailand is not as simple as buying a condominium. Buyer must register a Limited Liability Company (Thai Limited Company), which will own the property. Once registered, the company can buy the land and a villa.

         If you want to save on the possession of the villa, you can enter into a contract Leasehold, as a long-term lease on an alien.

         At the first consultation, LOKART INTERNATIONAL’S experts will help you choose the legal form for the purpose of your investment.

         Land Leasehold – long-term lease, up to thirty years, with the possibility of extension for the same period. The lease contract, for more than 3 years have to be registered at the Land Office.

         Superficies – the right to use the land, which belongs to a citizen of Thailand and the real estate, which is on this site. The maximum period prescribed by law, on the superficies of thirty years. Can extend at the discretion of an employee of the Land Office for another thirty years. Non-resident in this case as the owner of the house without actually possessing this land.

         Usufruct – the legal right to use another person’s property with the possibility of obtaining benefits. Used by non-residents, as a tool for the acquisition of real estate. Issued at the Land Office as the right of property ownership of 30 (thirty) years. It gives the right to surrender the house and make a profit. On expiry the property is returned to the owner. It is important that the owner of the property have insured for the full value. The loss or destruction of property implies full compensation for recovery.

         Thai law related to the possession of land is specific enough, but you can always find your way to legal ownership.

         Your personal attorney must draft the contract of real estate. Otherwise, you are not immune to surprises, which are beautifully veiled by experienced lawyers of the developer.

       Thai lawyers LOKART INTERNATIONAL offer you a complete legal service, beginning from checking the history of the land and building, to preparing the documentation for the transaction and legal registration!