Properties Bangkok

Properties Bangkok

Bangkok is Thailand’s capital, a thriving urban center that has seen rapid progress in recent years. Bangkok has placed itself on the global map with its economic success. This success has brought in many foreigners investing in local businesses such as land and real estate development. Urbanization has also caused the job market to balloon as fresh graduates and young professionals have stepped in to fill the city’s strong workforce.

Price Varies for Properties in Bangkok

Due to these reasons, Bangkok properties have come about with a range of prices. Those located in the central business district are especially thought of as prime land, and are generally developed for urban housing such as condominium units, office towers or business establishments like shopping centers or hotels.

Bangkok Properties and Laws

Given the interest that Bangkok has generated worldwide, Thailand has laws regarding Bangkok properties for sale to foreigners. This has been seen as a trend towards nationalism, but seems to remain a controversial topic. Legally,as an Individual the only kind of property a foreign national is allowed to own in Bangkok is a condominium unit, provided that the buyer adheres to several regulations in a purchase. While there are some who choose to find loopholes in order to avail of Bangkok properties for sale, these deals can be made through various legal channels properly.

According to Thai laws, the status of foreigners being able to buy Bangkok properties for sale stands as such: condo units or apartments can be purchased by foreigners as long as only 49% of the building’s space is occupied by other foreigners. The majority, 51%, must have Thais living in them. A company with foreign members or directors may be allowed to buy Bangkok properties for sale on the condition that no one foreigner owns more than 39% of the company, and total foreign ownership of the same company does not go beyond 49%. Many foreigners use this in order to gain Thai property – using their company to close land and real estate deals. The exception is an Aimity Treaty company available to Americans to purchase property for the company.

In addition, Thai wives and husbands of foreigners are allowed to acquire Bangkok properties for sale, as long as the deed is in the name of the Thai national alone and the money used in the purchase is declared by the Thai as his or hers. This is beneficial for those married to Thais, unless of course marital problems arise. As such, the property goes to the person whose name is on the deed. With regards to leasing, a foreigner is allowed to lease land for thirty years, with the option for an additional thirty years after the first contract has ended. This is called the “two times thirty” opportunity, and is one of the common ways that foreign investors and businesspeople may comply with Thai property laws.

To date, certain movements have been proposed towards the amendment of some of Thailand’s laws on foreign ownership of property. Pending these changes, Bangkok properties for sale still remain to be a regulated market, something which has not stopped foreigners and locals alike from enjoying what the city’s real estate industry has to offer.

Bangkokhouse and Bangkokfinder

Our agency can advise you as we keep up to date on property law changes in Bangkok. Ultimatedly for some of the less clear compliance issues we advise you to seek legal council especially when it comes to companies when purchasing properties.

We can reccomend serveral Thai Lawyers for such advice on property issues as we are not a law firm but real estate and property agents.