Buying Real Estate in Bangkok: How Realistic Is It?

By | December 8, 2018

Buyinga foreign home is a desire of many people who already own a property in theirhome country. Renting is certainly one way to go or even staying in a hotel,but if you want your space and to control the layout, you have to own.

Acquiring an apartment in a high-rise new development in Bangkok is often the way people go when they are attracted to the “bright lights, big city” of the Big Mango. It’s a sprawling cityscape with a river running through it just like in London, which provides different transportation options besides taxis and tuk-tuk rides.

What’s Involved with Buying a Condo in Bangkok?

For foreigners, there are only certain types of properties that they can purchase in their own name. Some investors have bought through Thai nominee companies, but this is not proper and such owners are seeing their companies get shutdown or taken over. For modern buyers in Bangkok wanting to do things the right way to safeguard their investment, buying a condo personally is the way to proceed.

Condos can be sold to foreigners as long as at least 50 percent of the building is owned by local people. This means that the developers must sell at least half their apartment units to locals. As long as that’s satisfied,all should be good. It’s not possible to buy a house other than through a company, making condos the ideal purchase.

The Need for Local Assistance

For offshore buyers and even people who have been staying in Bangkok as a foreign retiree, it’s best they seek out a reliable property agent Bangkok. They’re there to ensure a foreign buyer moves through the appropriate steps with a property purchase in Thailand.

A new build development specialist is a good option when wanting to buy new properties. They understand all the correct permitting; land rights and registration needs are necessary so that each condo buyer ultimately owns their property correctly. It ensures the legitimacy of any real estate transaction.

Ownership in the Right Location for You

While owning a condo in Bangkok provides an optimal experience, choose your neighborhood wisely. Spending a little time in the city helps to orient you to which districts and neighborhoods you enjoy the most. You can only tell this when you’ve lived there a short while – not visited only as a tourist – and have a clear idea where you hang out.

Due to the traffic congestion, it’s sensible when buying in the city (and not the outskirts) to choose a location near where you spend free time. It will save you many hours sitting in traffic getting from one place to another and so is worth pondering before making a purchasing decision.

When owning a condo in Bangkok, aim for a new development and try to get an upper floor. A condominium with some amenities is pleasant and makes it more marketable later should you wish to sell it to someone else at a later time.