Buying a leasehold property sorry if been asked before

[Bobobrighton]

Hi,

Can someone tell me if I buy a lease hold property on a 30 / 30 basis do you have to pay ground rent or any other costs or is it included within the purchase price.

It may seem niave of me but have been reading about the Thai goverment looking at people who have bought a place under a Thai company and now being investigated. I would like to make this move as smooth as possible and would appreciate any relpies to help me.

kind regards
Alan

[Winkie]

Cannot answer your questions, but do want to add, I belvie that he Leasehold is only 30 years. The additional 30 years is not legally binding.

Make sure you check everything with a competant and professional (that means expensive) Bangkok Lawyer

[frogblogger]

Bobobrighton - I think the authorities are mainly targeting foreign interests that are using 'loopholes' to make mass land/property purchases. Doubt they are interested in expats who've set up a Thai company just to buy a single house... but TIT - This Is Thailand. Take nothing for granted.

I've not bought using this method (49% of Thai company) because I am not convinced that the law will not change in the future. Once married to a Thai national I would buy, as under Thai law divorcees split the estate, so the loss would not be so great. (I'm not that much of a pessimist... honest ) But that is a situation that does not apply to everyone. Personally I would either only buy a condo (accepting that on expiry of a limited leasehold I would lose the investment), or would rent. Rental costs are a bargain, and I've certainly not regretted only renting over the past few years. Especially as prices have considerably depreciated in the meantime in many areas...

[Mindaugas]

Hi Bobobrighton,

Thailand does not allows (but for one exception) those same retirees to purchase and own land freehold for residential purpose (foreigner may own buildings freehold but not land).

Therefore Retirees who wants to purchase a property in Thailand in freehold sole option will be to purchase a condominium. Unfortunately not many retirees want to spend their retirement closed up in an apartment building. Most of them would actually prefer a house with a garden and a private swimming pool.

Therefore the only option for a foreign buyer that whishes to purchase a land and house in Thailand will be to do it under the form of a leasehold.