New Property
Park Lane Jomtien Resort
Start price: 1 Million Baht for 36 sq.m. apartments. The concept and planning that went into Park Lane Jomtien Resort was the result of extensive market research within Pattaya and Jomtien areas. The intention of the research was to find out what people really needed and wanted when looking for an apartment in Thailand. Park Lane Jomtien Resort is the result of the vision and dream requirements of the buyer...
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How-to Buy
Thai law allows foreign free-hold ownership of a condo. Forty-nine per cent of a condominium block may be of non-Thai ownership, with some blocks allowing this to rise to 100% if the developer has acquired the appropriate condominium license.
Freehold or leasehold owner- ship options are available to the overseas buyer. A free- hold may be purchased if a condominium is still ...
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Investing in Thailand
Despite the recent setbacks, foremost political changes, property ownership laws uncertainty and the strong Thai Baht, the Thai property market remains one where substantial, best medium-term profits can be made, as property is still much cheaper in Thailand than elsewhere and investors can afford more for their money than in many global locations. For example, taking advantage of the possibility to buy a quality Thai home for approximately 40% of the usual costs for an equivalent property in the South of Spain.
The Thai property market ...
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Thai Property Purchase Process
Below is the standard purchase process in Thailand, and issues that may
affect that purchase:
Thai law allows foreign freehold ownership of a condominium. Forty-nine per cent of a condominium block may be of non-Thai ownership, with some blocks allowing this to rise to 100% if the developer has acquired the appropriate condominium license.
Freehold or leasehold ownership options are available to the overseas buyer. A freehold may be purchased if a condominium is still within its 49% quota for foreign ownership, The land on which a condominium is built falls under the collective ownership of the individual condominium owners, with a majority Thai shareholding, governed by a corporate body usually set up by the owners.
Freehold ownership rules require overseas buyers to send the purchase funds in foreign currency from a bank outside Thailand to a Thai bank. On receipt, a Foreign Exchange Certificate, Thor Tor 3, will be issued. This certificate is used to provide evidence of the sale or deposit of foreign currency in an authorized local bank. A Tor Tor 3 can be obtained at all major banks in Thailand.
A freehold to a condominium may also be purchased by an overseas buyer if the individual in question is permitted to have residence in Thailand under the Immigration Act. Individuals are permitted to enter Thailand under the Investment Promotion Act (IPA). The required supporting documentation comprises a passport and a letter from the Board of Investment of Thailand certifying permission to live in Thailand under the terms of the IPA.
A leasehold will be offered if the foreign ownership quota for the condominium has been fully subscribed. The initial lease duration is for 30 years, with an option to renew for two additional 30-year terms -providing an effective lease of 90 years.
Amazing Real Estate Market Thailand
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Costs of a standard property purchase in Thailand include the following
taxes and duties:
- Land Tax is a land levy set at a very low level. It may be allowed to accumulate over a number of years to be collected by the relevant authority. In practice this levy is often not collected.
- The Structures Usage Tax only relates to properties used for commercial purposes and is collected by the municipal or district office.
- TStamp Duty of 0.5% payable on purchase or sale of property.
- SBT will only be imposed if you are selling your property, which you have own less than a period of five years. The tax rate is 3.3% of the selling or assessed price of an asset (whichever is higher).
- The Transferring fee is 2% of the registered value of the property.
- Income Tax, imposed on property of between 1.0 and 3.0%. There is no Capital Gains Tax.
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Thai Real Estate News
In most countries of the world, property markets are hypersensitive to even the smallest fluctuations in the economic, social and political climates. This begs the questions: Why is Pattaya, Thailand so different? Why is this market so resilient? ...
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SMS us now
For your convenience, instant and efficient feedback and offering an added value to guarantee highest level of customer satisfaction, our online SMS contact service was established.
Any questions you might have in regard to investing or purchasing your domicile in Pattaya, Thailand, will be answered within 24 hours.
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Testimonials
Read the Testimonials Iguana Group has received from Ross-Tara Co. Ltd., Obelisk International and Uni-Serv Co. Ltd., all well established and known in the Real Estate and Investment Market.
Obelisk International
We choose to collaborate with Iguana Group on the Pattaya Heights project for Obelisk International's first project in the Thailand market. The extensive experience ...
Uni-Serv Company LTD.
We at Uni-Serv Company Ltd. have been partnering Iguana Group within the Pattaya Real Estate ...
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