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Buying property in the Bangkok Real Estate market, the ins and outs of making a purchase as a foreigner.
    Buying property in the Bangkok Real Estate market, the ins and outs of making a purchase as a foreigner.
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Thousands of tourists, expats and even real estate investors look think about buying a property in Thailand each year. And some braver and perhaps more knowledgeable individuals take the plunge and buy into what can be a very lucrative market if the purchases are made correctly.

Of course a foreigner can buy property all over Thailand, they do not have to just buy Bangkok real estate. And when purchasing real estate in other areas of Thailand, the rules of the land are universal, there are for example no special zones or areas set aside for foreign purchase of real estate as there are in some other countries. However for convenience we will talk about purchasing Bangkok real estate, as Bangkok is the most popular real estate market in Thailand and the largest.

Many tourists come to Thailand for a holiday and end up falling in love with the country and often the people or even an individual person in the country. This leads to some people then considering buying a property in Thailand. Of course often a foreign buyer will look at real estate in a Thai coastal area, or resort area looking for a holiday home like in Phuket or Koh Samui, but if the foreign purchaser is looking more for an investment that they can rent out and re-sell at a later date then they will be looking at Bangkok.

Purchasing property in Thailand can be done in 4 formats. Purchasing a condo in Thailand, buying a townhouse in Thailand, purchasing a detached house in Thailand, or even buying land in Thailand. All 4 of these formats can be negotiated with expert advice.

Purchasing a condominium in Bangkok is one of the easiest ways to buy into the Thai property market. And with the level of activity in the Bangkok real estate market, it is very likely that as long as a city center condo near a BTS or MRT station was purchased then the condo would be easy to rent and even sell when you had decided the time is right. Foreigners can purchase Bangkok condos easily as they are protected by laws and can own such a property 100% in both freehold and leasehold format, although we would always advise freehold over leasehold.

The next 2 types of property are very similar, purchasing a townhouse in Bangkok or purchasing a detached house in Bangkok. As a foreigner cannot own land and houses are essentially 'grounded', a Thai company has to be formed to buy the Thai property for the foreigner. The foreigner can own 49% of the company and of course can be split between several locals who can agree to give up their voting rights.

This style of ownership not only secures the property in the foreigner's control, but also allows the foreigner to sell the property to a fellow foreign investor or to a local looking to buy a house in Bangkok or Thailand.

Finally the purchasing of land in Thailand is not only the rarest, but can often be the most expensive and the most risky. Buying land in Bangkok is very expensive and it is priced away from most individual investors. Therefore most experts would advise against such a purchase, unless of course the individual had the means to develop the land accordingly, again another huge expense for most projects.



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