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Foreign nationals can own the building (villa) 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.
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:
After you have found the right property at Sawasdee Pool Villa - Chaweng (Freehold) you have to follow these steps:
Installment Milestone Payment 1st Installment Purchase materials, prepare the land, workers start to build etc ฿2,900,000 2nd Installment Completion of footing and swimming pool, beams of the first floor etc. ฿2,900,000 3rd Installment Completition of reinforced concrete to all of first floor, column of first floor, reinforced concrete for beam of the roof, building the roof structure steel etc. ฿1,600,000 4th Installment Completion of the roof tiles, building blocks to wall and plaster, wire pipes for electrical system, wire pipe for sanitary system, decorative tiles etc. ฿1,300,000 5th Installment Completion of decorated tile all the floor, all door & windows installed set up all equipment and installation of swimming pool equipment ฿1,300,000 6th Installment Set up sanitary system and sanitary ware, building the ceiling, 3 Air condition, 5 ceiling fan & 3 hot water machine etc. ฿500,000
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