FAQ

FAQ’s Investing in Thailand

 

Q? What is usually the completion date of the projects?
A.Construction can be completed in 1-2 years, some of projects are already in status of completion.
Q? Can I purchase a condominium as a foreign citizen in Thailand?
A.Yes, a foreigner can purchase a condominium in Thailand with a 100% freehold title.
Q? Can I buy a unit from overseas?
A.Yes, once you have selected your unit we can send you all the relevant paperwork via courier or online. Our developers accept international payments and can manage the whole process for you right through to completion.
Q? If I purchase a unit what additional fees are there?
A.You must pay the transfer fee set by the government. You must also pay a one time sinking fund payment and a yearly maintenance fee.
Q? How are the additional fees calculated?
A.The transfer fee is set by the government of Thailand and is currently set at 2%. As a buyer you are responsible to pay  this fee which is calculated at the assessed price of the unit given by the local land department.Est. 1.290,000 THB unit (1.290,000 THB x 2% = 25,800 THB)
The sinking fund payment is one time payment calculated at 600 baht per sqm.ie. 24sqm unit = 14,400 THB (24 x 600 = 14,400) – {Approx  465 USD}
The annual maintenance fee of  average 35 baht per sqm per month calculated yearly.
ie. 24sqm unit =  10,080 THB (24 x 35 x 12 = 10,080) – {Approx  336 USD}

The Extra fee include;
Maintenance fee paid yearly from the Certificate of Occupancy.  Rates vary for each project.
Sinking Fund of 600 baht per sq.m paid only 1 time upon receiving Key
Water and Electric meter installation fee from the government which right now is about 9,000 baht
Transfer fee of 2% paid once the buyer transfer the condo into their name or their Thai Company name*
* If you are buying in Thai Company the cost to set up a company, we can help you arrange all of the documents once the project has been completed.
Q? What is a maintenance fee?
A.The maintenance fee is the monthly cost per sqm calculated annually which pays for the maintenance of the condominium. The maintenance fee is paid to the juristic company which is appointed by a committee of owners of the condominium. The juristic uses the maintenance fee to pay for the general up keep of the condominium including security, maids, pool cleaners and maintenance personal.
Q? What is a Sinking Fund?
A.A sinking fund is a reserve fund established at the time a new condominium project is constructed , to pay for any non- routine, structural damages or repairs and replacement to commons areas or infrastructure. This fund can be used only if agreed to buy the condo association.
Q? If I use the property as a holiday home who can take care of the property while I’m not there?
A.The project offers full property management services as well as a 24 hour reception service to ensure your property is maintained in your absence.
Q? If I want to rent my property who will manage the rental?
A.We can set rental management service provided to manage your unit(s).
If you didn ‘ t find your answer here, please contact us !