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Palm View Residence. Here you get the perfect, cosy, slightly smaller accomodation that is perfect for living alone or as a couple Newly renovated slightly smaller house 15 km east of Pattaya. 60 square meters divided into 2 bedrooms and 1 bathroom. In 2020, both the bathroom and kitchen were renovated. Extra roof insulation, ceiling fans and new inverter air con. New furniture in both living room and bedroom. The house has a terrace, covered parking and a fence all around. The house also has a water purification system with activated carbon and UV. The resort is well maintained and has a communal pool. There is also a land rent - This house is available for foreigners. In Thailand foreigners can not buy land, so houses for foreigners are always placed on leased (rented) land. The lease contract for this house is on 3 years, with automatic renewal 3 times (totally 9 years). After that a new 9-year period is started. The rent may be adjusted for inflation at the renewals. Rent is paid once per year. This makes it possible to buy the house for less money (it is a cheaper house), but with a land rent. (In Thailand it is also common with 30-year land lease contracts. For this type of contract, you pay the lease for the entire lease period upfront, when you sign the contract. This usually cost as much as buying the land. Of this reason are houses with 30-year contracts much more expensive. 30-year lease is not avalable for this house.)
Foreign nationals can own the building (house) in their own name but not the land that it stands on.
Foreign nationals cannot own land in Thailand. The options in which a foreigner can control the land are via a 30-year lease or by purchasing the land through a Thai company.
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.
After you have found the right property at Palm View Residence you have to follow these steps:
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.
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.