1. What are the estate agents fees?
Thai Property Deals do not charge any fees apart from a listing fee (see pricing) which is a one off payment you deal with the customer direct to save you thousands! However most real estate companies In Thailand charge a typical fee for selling real estate which is 5%, paid by the seller. Fees can vary depending on the situation.
2.Can a foreigner own property in Thailand?
No, under current Thai law, foreigners cannot own land in Thailand outright. However, there are some exceptions and alternative options:
Condominium Ownership: Foreigners can own a condominium unit in their own name as long as no more than 49% of the total floor area of all units in a condominium building is owned by foreigners.
Leasehold: Foreigners can lease land for up to 30 years (with options to renew), where the lease is registered at the Land Department. This is a common way for foreigners to secure long-term use of land.
Thai Company Structure: Foreigners can set up a Thai limited company where Thai nationals hold a majority of shares. The company can then purchase land, and the foreigner can control the company. This method requires careful legal structuring and should be done with professional guidance.
These options allow foreigners to effectively use and invest in property in Thailand, albeit not through direct ownership of land.
3. Are there any local government taxes or rates?
No, there are no local government taxes or rates specifically applicable to property ownership in Thailand. However, when acquiring a new property, there are one-time charges for the transfer of ownership, as well as fees for the installation of electricity and water meters. These are administrative fees rather than ongoing taxes or rates.
4.What about electricity and water bills?
Electricity and water bills in Thailand are generally lower compared to Western countries. These utility costs vary depending on usage and the location of the property.
5. Can a foreigner get bank finance in Thailand?
It is quite challenging for foreigners to obtain bank financing for property purchases in Thailand. Some developers may offer financing options, but it remains generally difficult for foreigners to secure bank loans for real estate transactions in the country.
6. What payment methods are used for real estate transactions?
Almost all real estate transactions in Thailand are conducted through international bank transfers in foreign currency. This method is widely used and accepted for property purchases and ensures secure transactions between buyers and sellers.
7.What are the import duties on items like cars or furniture?
Import duties on items such as cars or furniture in Thailand can be quite high, especially for new vehicles. It is often more cost-effective and convenient to purchase these items locally rather than importing them.
8. Is there demand for rental properties?
Yes, there is a strong demand for rental properties in Thailand, particularly in popular tourist destinations and during peak tourist seasons. Properties located in prime areas and offering desirable amenities generally attract the most interest from renters.
