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With open views on 2 sides the apartment benefits from an abundance of light and evokes a sense of living in the treetops. West facing the living room balcony enjoys sunsets over Chiang Mais’ iconic Suthep Mountain. Peaks Garden benefits from a central atrium which allows natural light and air into the corridors. With only 79 units it is one of the smaller buildings in Chiang Mai helping to ensure that communal facilities such as the gym and pool do not suffer from overcrowding common in the newer larger developments and the management team, who are excellent, also get to develop a close and caring relationship with the buildings’ residents. The building also benefits from a very healthy balance sheet thanks to years of good management that has allowed the committee to accumulate cash reserves ensuring that essential maintenance is always carried out on time to maintain the property value into the future. The property is currently tenanted. The rent is 30,000 THB/month. The rental contract will end at May 2024.
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 Peaks Garden you have to follow these steps:
Payment Plan Installment Milestone Payment Reservation Deposit Immediately 10% 1st Installment Upon contract signing 40% 2nd Installment On handover 50%
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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