How to execute purchase of real estate in Thailand — instruction for foreigner

How to execute purchase of real estate in Thailand — instruction for foreigner, which includes opening of account, check of title and registration of rights in Land Department. It is important for investor to follow clear algorithm for protection of his capital.

Investment company of real estate Harmony Ocean Property analyzes market of Phuket and selects liquid objects for investment goals of client. Team consults on each stage of purchase of real estate, reducing risks of investors connected with choice of developer or legal form of ownership.

Stages of transaction with real estate on Phuket

Process of acquisition begins with choice of object and ends with registration of ownership right. Purchase of real estate in Thailand requires consecutive actions for protection of invested funds.

• Opening of bank account in Thailand for transfer of funds.
• Reservation of object and making deposit for fixation of price.
• Legal check of title of real estate on Phuket.
• Payment of cost of object through legal payment route.
• Registration of ownership right in Land Department (Land Department).

Whole path requires participation of specialists. It is important to take into account documents for purchase of real estate on Phuket, to avoid delays at stage of re-registration.

Purchase of real estate in Thailand

Purchase of real estate in Thailand for foreigner: freehold and leasehold

Foreigners can acquire objects on rights of freehold (full ownership) or leasehold (long-term lease). Choice depends on type of real estate and current legislative restrictions.

• Freehold: allows foreign citizen to own object in condominium directly in his name.
• Leasehold: long-term lease for 30 years with right of extension, often applied for villas and houses.

Understanding of difference between titles is critically important for protection of investments. Competent approach to execution excludes possibility of disputing of ownership in future.

Purchase of real estate on Phuket

Legal stages of check of object and due diligence

Legal check of title — this is procedure, which is conducted by independent Thai lawyer. Specialist analyzes data from registers, to make sure of absence of encumbrances and legality of construction.

Investment agency Harmony Ocean Property consults transactions on operational questions of purchase of real estate on Phuket in part of operational actions.

Legal purity is ensured by invited Thai lawyer: he checks permission for construction and history of ownership of object.

Investment strategy of acquisition and rental yield

Yield of real estate depends on location, management and composition of services provided by management company. Investor must take into account that commission of management company (MC) constitutes 20–25% of rental revenue.

Investment strategy of acquisition of yield from real estate on Phuket

For assessment of liquidity of investments in real estate on Phuket it is worth to consider objects in districts with developed infrastructure. Analysis of rental flow allows to calculate in advance forecast indicators, excluding invented guarantees of yield.

Frequently asked questions (FAQ)

Can foreigner own land in Thailand?

Foreigner cannot own land directly, therefore for villas leasehold is usually used.

What is payment route for payment of object?

This is legal scheme of transfer of currency from abroad with indication of purpose of purchase of real estate.

Is it possible to buy construction in progress?

Yes, purchase from developer is possible at stage of foundation pit, which allows to save.

Is personal presence on Phuket required?

Transaction can be executed remotely through trusted person or lawyer by power of attorney.

Analytical approach of expert Harmony Ocean Property — Vladimir Mironov

Vladimir Mironov as investment strategist assesses economic justification of projects, their liquidity and investment risks. He compares offers of different developers, focusing on protection of capital of client. Analytics of Mironov is based on detailed analysis of market, allowing buyer to choose residential complex from developer on Phuket proceeding from long-term strategy, and not momentary emotions.

Conclusion

Purchase of real estate in Thailand requires systematic approach, where investment analysis of Vladimir Mironov combines with professional approach. Correctly chosen object with transparent legal history will become reliable instrument of preservation of capital.

Investment strategy, composed by experts of agency Harmony Ocean Property, minimizes risks and allows rationally to use rental potential of Phuket.

For detailed analysis of your request and selection of object order consultation at specialists of Harmony Ocean Property