What is the best category of property to own in Phuket, Thailand? • Phuket Francophone Magazine

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What is the best category of property to own in Phuket, Thailand?

Aside from the obvious choice of owning a piece of land on the ocean in a beautiful, tropical paradise, where the warmth of the Sun, the gentle sea breezes, literally, will add good years to your life, just be being there, then designing and building your own dream, there is a more overall practical, structured options.

In Thailand, based on the condominium laws of other parts of the globe, with specific language derived from the California Property Regime statutes of 1970, for a foreign national, the purchase of a Condominium is a streamlined process, where the end result is the highest degree of property ownership Title available in the Kingdom of Thailand.

Technically speaking, exactly 49% of the livable space of a Condominium Project can be sold to individual foreigners. For example, if a Project had 100 units, all the exact same size, then 49 of those units can be taken in Freehold, Fee Simple Title foreign ownership, as described above.

Note: the other 51% can be purchased by foreigners in the same structure as the Buying of Land!!! Either Freehold in Thai company, or Leasehold Title 90 years.

The allocation of a Project for a foreigner to own a unit(s), outright, in perpetuity, it is only needed to present the valid passport at the Land Office at “Hand Over,” with contract and purchase agreement pay the government transfer fees, and then the Title of the condominium property is registered directly into the Buyer’s name and appears in the Original Title.

Another nice advantage of condominium ownership in Phuket from foreign expats (digital nomad) or holiday maker’s perspective is a condominium project is designed with major hotel amenities, and even operated as a hotel. Plus, they are fully furnished, often with kitchens, with added value services and housekeeping, making residency in a foreign land that much more convenient and valuable. Of course, in the business side a rigorous property management endeavor can make lucrative rental income opportunities easier.

Coral Beach Oceanview Resort

The land acquired and secured for the new Coral Beach Oceanview Resort condominium development is set upon a promontory in one of the most exclusive neighborhoods in Patong City, Phuket Province, Thailand…

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