Click me
Transcribed

The Real Estate Industry in Hua Hin, Thailand

The Real Estate Industry in HUA HÌN Thailand In the past few years, Thailand has experienced a wonderful growth in its real estate industry ANNUAL HOUSE PRICE CHANGE (%) 10 Since 2009, house pricing has decreased significantly and has only risen for a few numbers in 2014 6. 4 Now is the best time to take advantage of this booming industry -2 2009 2010 2011 2012 2013 2014 Normal Real Thailand's condominiums are becoming one of the most popular real estate investments in the world In the past 4 years, Chinese buyers have started to Hong Kong Chinese, Taiwanese and Singaporeans are currently the most enthusiastic of Thai home buyers purchase in large numbers The British, Germans and Swiss continue to be avid buyers as well For rental units, about 95% of the rental block is from foreigners Buying Property in Hua Hin Hua Hin is one of Thailand's most beautiful areas When you buy a property in Hua Hin or anywhere else in Thailand, it is always prudent to engage or consult with a lawyer To better understand this, you can consult a Thai lawyer or any legal counsel who is knowledgeable in Thai law Unfortunately for foreigners, Thai law prohibits any foreign national from owning lands but there are other ways that yoU can structure so that you become the de-facto owner Limited Liability Nominee with Lease Nominee with Usufruct Company and Option to Buy Mortgage Interest You can use a Thai nominee to purchase a property, and obtain a 30 year lease on the land from the nominee. In order for this option to be legitimate, the foreign buyer and Thai nominee need to register the lease at the land office, effectively making the contract legal and guaranteed by the Thai government. Furthermore, the lease would state that if Thai law ever You will be given the right to occupy and sell all Thai law states that This option has lots of restrictions. You will use a the majority of any company's shareholders must be Thai. A foreigner can own up to 49% of the company shares, and 51% of the company must be owned by Thais with a minimum of 2 Thai shareholders. nominee to properties or purchase the house or land and structures on the land. mortgage it. Unfortunately, only the owner of the land can Mostly used for foreigners with a Thai mortgage it and not the leaser. spouse. Foreigners can have managing director roles and can changes to allow foreigners to own land, the lease contract can be changed to freehold ownership at no additional charge to the lessee. choose to have sole signing power within the company. When you consider purchasing property or undeveloped land, you need to consider the following: land title designation, ownership structure of the property, location, water, electricity, security, common area fees, & right of access to property Leasehold YEAR Freehold The buyer is leasing the land for a pre-determined amount of time, but still has the right to sell or sublease the property. Lease contracts can be made for 30 The buyer will be given full ownership of the property, including the right to sell or lease the property. Foreigners are allowed to own condominiums freehold. YEAR 3 x 30 year periods, but the maximum amount of time a 2 Foreigners can also own landed property freehold by purchasing via a registered Thai company. lease can be registered in the land office is 30 years. Real Estate in Hua Hin When purchasing any real estate in Thailand where the funds have been remitted from abroad, the transaction needs to be properly recorded by the Thai Bank or the Tor Tor Sam. For condo ownership, the units sold in the building to foreigners must not exceed 49% of the total units in the condominium development. The condo buyer will be issued a certificate of ownership which includes a statement of the percentage of the rights the owner has over the common areas of the building. For landed villa purchases, upon closing the sale the buyer will receive the original Chanote (land title deed) and Tabien Baan (house registration book), proving the undisputed ownership of the property. If the home is purchased via leasehold, the buyer's name will be registered on the Chanote as the legal lessee of the land. Financial Regulations and Property A Tor Tor Sam, or an official bank document released when you remit foreign currency, is needed when the money you will use to purchase the property came from abroad. A Chanote or land title deed is the purest form of evidence that a certain individual owns a specific property. However, only surveyed lands can be given a Chanote. Thai law does not permit foreigners to mortgage properties in Thailand but there are other options that you can structure. You would need to consult a lawyer for this. In Thailand, the property tax structure is very different compared to the West. The ones you would need to prioritize are the Land Tax and the Structures Usage Tax. For every purchase or sale of property, there is a Transfer Fee of 2%. There will also be a 0.5% Stamp Duty Tax (only applicable if Business Tax is exempt), a Business Tax of 3.3%, (only applicable if the property has been owned for less than 5 years) and a Withholding Tax of 1%. TAX 田 EXECUTIVE HOMES HUA HIN REAL ESTATE INVESTMENTS http://pattayaproperty.pro/tag/pattaya-city http://www.globalpropertyguide.com/Asia/Thailand/Price-History http://www.huahinafterdark.com/buying-a-house-in-hua-hin.htm http://www.globalpropertyguide.com/Asia/Thailand/Price-History http://www.ft.com/cms/s/2/cabeb480-94db-1le3-a8ac-00144feab7de.html http://www.globalpropertyguide.com/investment-analysis/Asian-property-A-decade-after-the-crisis www.executive-homes-huahin.com

The Real Estate Industry in Hua Hin, Thailand

shared by shanemarks3 on Oct 27
37 views
2 shares
0 comments
It doesn’t matter if you are looking for a place to rent or buy, what matters is the quality of the place and the price you got it for. Real estate has been a blooming industry in Thailand and this ...

Tags

None.

Category

Business
Did you work on this visual? Claim credit!

Get a Quote

Embed Code

For hosted site:

Click the code to copy

For wordpress.com:

Click the code to copy
Customize size