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The building (the bricks and mortar) can be owned by a non-Thai national outright in their name in what is called the house registry which secures ownership indefinitely of the structure.
In Thailand non-Thai nationals cannot own land outright in their name. Land can be controlled through either a Thai Company or a long-term registered lease. The longest registered lease term by Thai law is 30 years and most developers will offer 3 terms for a total of 90 years.
A 30-year lease period is legally protected under Thai law and ownership cannot be disrupted. It is common for developers to offer an additional two terms of 30 contractually obligating a total of 90 years.
Prior to purchasing a leasehold property it is important to secure a copy of the lease agreement or get further clarity on these three points.
#1 - Who is the lessor? (an individual or a Thai Company) Securing a lease from a Thai Company offers much more security than a private individual.
#2 - Do I have voting rights as a Lessee? (Some lease contracts do not allow lessee to have voting rights)
#3 - Is there a succession clause in the lease agreement that will allow inheritance of the lease?
After you have found the right property at The Teak Forestias you have to follow these steps:
Unit selection and agreement of terms and conditions
Reservation Agreement
Reservation Deposit
Sales and Purchase Agreement
1st Contract Payment
Payment Installments
Snag List
Transfer
(OFF-PLAN VILLA) Installment Milestone Payment Reservation Deposit Immediately 2% 1st Installment Upon contract signing 28% 2nd Installment Completion of main structure, (or) within the 4th month of the construction period. 20% 3rd Installment Completion of roof and walls structure, (or) within the 8th month of the construction period. 25% 4th Installment Completion of windows, doors and floor finishing, (or) within the 12th month of the construction period. 15% 5th Installment On handover 10%
The Teak Forestias is conveniently located just 530 m from PTT Tinlay Pasak Café Amazon PTT Pasak, which can be reached within 7 mins. by foot.
There are many other shops situated in the area of The Teak Forestias, the 3 closest being:
- Sunthorn Laundry is 820 m away (about 10 mins. by foot)
- Sweep music phuket is 1.2 km away (an approx. drive of 2 mins.)
- Atcharaporn Bag Shop is 1.4 km away (an approx. drive of 4 mins.)
The surrounding area, where The Teak Forestias is situated, offers a wide variety of restaurants. See the closest of them below:
- Kindee Bistro is 400 m away (a walk of about 4 mins.)
- Nuclear Sabver is 400 m away (a walk of about 4 mins.)
- 95 Cafe takeaway. Bangtoa. is 690 m away (a walk of about 8 mins.)
Banks International Hospital, 83000 is the nearest health facility, which is 5.1 km away (you can drive there in 9 mins.) from the project, while the closest schools in the proximity of The Teak Forestias are:
- Lycium Company Limited is 930 m away (about 11 mins. by foot)
- Baan Kajonkiet nursery pasak is 610 m away (about 8 mins. by foot)
- School DANI KAJUKIET is 610 m away (about 8 mins. by foot)
Phuket International Airport is located 17.5 km from The Teak Forestias and it takes about 24 mins. by car or taxi (depending on the traffic) to get there.