Housing



Rental Housing Per Month

Housing Monthly Rent
Monthly rent for 85 m2 (900 Sqft) furnished accommodation in EXPENSIVE area 42,028
Monthly rent for 85 m2 (900 Sqft) furnished accommodation in NORMAL area 20,546
Monthly rent for a 45 m2 (480 Sqft) furnished studio in EXPENSIVE area 25,149
Monthly rent for a 45 m2 (480 Sqft) furnished studio in NORMAL area 12,058

Document for Rental Housing

  1. 1. Copy of Passport
  2. 2. Copy of Work Permit (If any)
  3. 3. Guarantee Deposit (Estimate 3 months in advance)

Foreigners are not allowed to own land in Thailand by law. If interested in buying, a foreign investor has two options: either a 30-year leasehold or purchasing the property through a limited company. Apartments can be purchased by foreigners as long as at least 51% of the building is owned by Thais.

Step to buy property in Thailand

1. You need to know the correct legal process in Thailand for the foreigner to acquire property. Before you sign any deposit agreement or contract, you should sit down with a lawyer or solicitor to discuss the legal process.

2. In Thailand, a foreigner may only own a condominium in his/her own name. If the foreigner wishes to acquire land and build a house, he/ she should obtain a long term lease on the land (for a period not exceeding 30 years each term). The foreigner should apply for the construction permit to build the house in their own name. This way the foreigner owns the house and has a secured long term lease on the land.

3. A comprehensive examination of title deed recorded at the Land Department should be done. You need to verify that the Seller has clear and legal title of the land before you enter into a contractual agreement.

4. When you feel satisfied with the property, you will be asked to make a deposit to show your good faith to continue the process. In return, the Seller will reserve the property for you and start the process by drafting the contracts for purchase. Unless you write specifically a “getout” clause in the deposit agreement, for example “subject to clear title” or “subject to agreement on the contract terms,” the money deposited is non-refundable.

5. The Seller will have the contracts prepared for you. Since the Seller will write the contracts, it is highly recommended that you have a lawyer or solicitor review the terms and conditions. You will want protection for your interests should there be a delay in the property being built. A proper remedy should be stated in the contract. Your payment schedule and its ration should be reasonable and practical. Normally, a first payment is 25 percent. Thereafter payments are made on a progressive basis: 25 percent when the roof is on, 25 percent when the door and windows are secure; and 25 percent when the fixtures and fittings are completed for instance.

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www.siam-legal.com/

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