Understanding Condo Ownership Laws in Thailand: What You Need to Know

Thinking about buying a condo in Thailand? Here are the key legal aspects you should be aware of:

1. The 49% Foreign Ownership Rule:

In any condominium project, up to 49% of the units can be owned by foreigners. This means you can legally own a condo in Thailand, but it’s crucial to confirm the foreign ownership quota before making a purchase.

2. Leasehold vs. Freehold

Freehold gives you full ownership of the condo, while Leasehold typically grants you a 30-year lease, renewable up to 90 years. Freehold is often preferred by foreign buyers, but both options have their pros and cons depending on your needs.

3. Due Diligence is Key:

Always conduct thorough due diligence. Verify the condo’s legal status, review the sales contract carefully, and ensure that the development has the necessary licenses. Working with a trusted local agent, like Sun Above Phuket, can help you navigate these complexities with ease.

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