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A new luxury condominium managed by the largest five-star hotel chain in Asia, Wanda, is being built in the most promising location of the island - just 350 meters away from Layan and Bang Tao beaches and only 500 meters from Serinat Natural Reserve. The famous Boat Avenue and Porto de Phuket are just a 5-minute drive away. The first stage is almost completed, delivery is scheduled for the 2nd quarter of 2024, while the second stage is being actively built and will be finished next year. The project highlights the reliability of the developer, who delivered more than 180 projects worldwide on time, and the unique management of a five-star hotel chain, previously not present in Phuket. The project is ideal for both own living and investment. Investment units are available for purchase in the hotel complex and apartments for long-term residence, or long-term lease.
Foreign nationals can be freehold owners of condominium units, in buildings where not more than 49% of the unit floor space is owned by foreigners. Units that are part of the Thai quota or are being leased for 30 years can be converted to the foreign freehold quota if that is currently below 49%.
Foreigners can own a condominium Freehold in their own name. Condominium ownership is best explained by looking at an example of a project that has 100 units for sale.
In this example, 49 of the total units in this building (or 49% of the total salable area) can be owned outright by non-thai nationals in their name. The ownership titles of these 49 units is referred to as Freehold or Foreign Quota.
This leaves 51 units remaining in the building (or 51% of the total salable). The freehold rights to these units are reserved for Thai nationals in what is commonly referred to as the Thai quota.
After you have found the right property at Wanda Vista Resort you have to follow these steps:
Building C&E (Phase 1) Installment Milestone Payment Reservation Deposit Immediately ฿100,000 Down Payment Upon contract signing 30% 1st Installment Completion of Building Structure 40% 2nd Installment Completion of External Facade 15% 3rd Installment On handover 15% Building G (Phase 2) Installment Milestone Payment Reservation Deposit Immediately ฿100,000 Down Payment Upon contract signing 30% 1st Installment Completion of Building Structure 40% 2nd Installment Completion of External Facade 15% 3rd Installment On handover 15% Building H&I (Phase 2) Installment Milestone Payment Reservation Deposit Immediately ฿100,000 Down Payment Upon contract signing 30% 1st Installment Completion of Ground Floor 20% 2nd Installment Completion of Building Structure 20% 3rd Installment Completion of External Facade 15% 4th Installment On handover 15%
Thailand has different visas like Spousal Visa, Retirement Visa, Student Visa and Elite Visa - just to name a few options. Each visa has different requirements but they are usually easy to obtain.
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