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Condominium Ownership (Freehold vs Leasehold)
Published August 26, 2022
Updated November 24, 2023
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Condo ownership in Thailand, options are leasehold and freehold, is increasingly gaining popularity among local and foreign buyers.
Our article explains key aspects of Thai property laws. We aim to assist you as home buyers in investing or residing in a condo in Thailand.
We also focus on key questions like the benefits of choosing freehold or leasehold options ensuring you have all the necessary information to make an informed decision.
Table of Contents: |
Condo Ownership in Thailand explained?
Thai property laws provide an accessible option for foreigners to own a condo in Thailand. Foreigners can own up to 49% of a complex's total area with the remaining 51%—known as the Thai quota—reserved for Thai nationals.
In Bangkok, many expats invest in modern apartments blending urban luxury with convenience. Meanwhile, in Chiang Mai, known for its serene landscapes and cultural richness, the same law caters to those seeking a peaceful retreat amidst historical charm. These cities exemplify how Thailand condo market caters to diverse lifestyles and preferences, supported by fair ownership rules.
However, foreigners can buy condos in Thailand under both leasehold and freehold agreements.
What does freehold mean?
A freehold ownership provides permanent property rights allowing buyers to own the condo indefinitely, subject to local laws and regulations. A freehold contrasts with a leasehold where it is leased for a specific period after which the ownership reverts to the freeholder ownership rule.
What is a leasehold property?
A leasehold purchase means owning the condo for a set period, typically ranging from 30 to 99 years, offering a more temporary investment in Thailand real estate market. Leasehold properties in Thailand attract foreign investors due to their lower initial costs and accessibility in areas restricted for freehold by non-residents. Upon lease expiry, the apartment reverts to the freeholder, unless extended making it a viable short-term investment option.
Are Condos in Thailand Freehold?
Condos in Thailand offer a freehold title giving foreign buyers full ownership of their private residence. Freehold condos with the option for joint interest in real estate make them a living space and a smart investment choice. The appeal of owning apartments in Thailand's lively setting with flexible ownership options contributes to condos in Thailand highly attractive to many buyers.
The laws for buying freehold condos in Thailand are straightforward and foreigner-friendly. Foreign buyers can directly own up to 49% of the total area in a condominium project. A freehold process involves clear documentation and legal checks ensuring a secure investment. The laws make it easier for foreigners to confidently invest in Thai real estate knowing their ownership rights are protected and their investment is sound.
Why buy a freehold condo in Thailand?
Freehold condos in Thailand offer complete and permanent ownership, ideal for you seeking long-term stability in your investment. Freehold ownership especially appeals to expats and international investors providing security and full control over your property.
Besides, the straightforward legal process in Thailand adds to the attractiveness of freehold condos making them a great choice for investing in Thai real estate.
You can consider The Issara Sathorn in Bangkok for a luxury freehold apartment experience in Thailand. It stands in the heart of the city offering breathtaking views and modern amenities. Additionally, the apartment represents urban luxury with its prime location near shopping centers and transport links like Chong Nonsi BTS making it a desirable choice for you looking to invest in the Bangkok residential market.
The Issara Sathorn Bangkok
Why buy a leasehold condo in Thailand?
Leasehold condo is a good choice for those seeking a shorter-term investment or a lower initial cost. Down below are some key advantages:
- Lower purchase price compared to freehold
- Ideal for temporary residency or investment
- Flexibility to change properties or locations after the lease term
Lower Purchase Price
When you choose a leasehold condo, you're opting for a more affordable alternative to freehold properties. This makes it an appealing choice for you if you're working with a limited budget or prefer not to tie up a large amount of capital in one investment. It's a cheaper way for you to enjoy your condo ownership without the heftier financial commitment that comes with freehold ownership.
Ideal for Temporary Residency or Investment
Leasehold condos are perfect for you if you're planning to stay in a location temporarily not for a set time. They offer you the benefits of ownership without long-term ties. They're also great for you as an investor looking to tap into the rental market for a set period before exploring other opportunities.
Flexibility
Opting for a leasehold gives you the flexibility to move or invest in different properties once the lease is up. It is beneficial for you if your career or lifestyle requires frequent changes in location. It also suits your investment strategy if you aim to diversify your apartment portfolio over time keeping pace with market changes and personal needs.
Start Your Thai Condo Journey Now!
Ready to explore vibrant Thai livings? Your ideal condo is waiting for you whether you prefer a freehold or a short-term leasehold condo.
Contact our expert team today to start your journey to own a condo in Thailand. Let us guide you every step of the way to find the one that matches your lifestyle and investment goals. Let's turn your Thai property dreams into reality!