Have you been thinking of buying a vacation home, retirement spot, or investment property in the near future? Thailand is a premium location with its selection of Phuket luxury villas and other options here on the real estate market.
If you’re new to the process, it can seem tricky, especially with the laws and regulations for foreigners. The good news is that this article contains the basics on buying a luxury villa in Thailand, so read on!
Why choose Thailand of all places?
This country is known for its warm weather, vibrant culture, and beautiful beaches. These factors add to the appeal of owning a villa here since so many people want to enjoy a laid-back tropical lifestyle. It makes a great opportunity to earn a rental income from visitors in places like Krabi, Koh Samui, and Phuket.
Can foreigners buy property here?
While it’s not possible to fully own land in Thailand, it’s possible to buy a villa through a Thai company or if the lot is on a lease agreement for long periods. The first option means establishing a company locally, then using it to purchase land and property with a maximum 49% ownership. The second option means working with a company like us at Sunway Estates to buy a villa on leased land.
What is the process of buying a villa like?
1. Find the right villa for you by getting in touch with our real estate agents, browsing our listings, and touring the properties in person.
2. Make sure the property is clear legally, without any issues regarding ownership disputes or unpaid debts, though you don’t have to worry about that with us.
3. Make an offer to one of our agents, and feel free to negotiate the price and make a formal offer to the seller through our channels.
4. Go through the sales agreement carefully, highlighting key points like the payment terms and conditions to avoid any issues in the future.
5. Complete the purchase by transferring funds through the bank and officially registering the villa under your name at the Land Department.
How much does it cost to buy a villa here?
The initial costs involved in the purchase include the transfer fee, stamp duty, and agent and lawyer fees. Our property consultants are more than happy to answer any of the questions you might have about our fees. Also, prepare funds for ongoing costs like property tax, utilities, and maintenance fees, especially if you plan to rent it out.
What should you consider before buying a villa?
The location is a very important factor, so think about whether you want to be near the beach, in a quiet area, or close to tourist attractions. Next, consider the size and features of the structure, whether you want a pool, garden, gym, or home theatre. Also, check if there is round-the-clock security. It’s always best to live in a community or gated subdivision for optimum safety.
If you still have questions about the process of buying Thailand luxury villas, don’t hesitate to get in touch with us at Sunway Estates. We have many new developments that you will surely be interested in, and we can arrange property tours according to your schedule.
