Buy Property in Thailand - What About Pattaya?

If you're looking to buy property in Thailand, you are bound to come
across lots of invitations to consider Pattaya. This is a very popular holiday destination about 100 miles south of Bangkok, on the east coast of the Gulf of Siam.


So is Pattaya for YOU? Well, it depends on your reasons for wanting to buy property in Thailand.


If you're interested in the property as an investment, it looks as though Pattaya would be an excellent choice. The Pattaya property market is booming and is increasingly recognized as one of the hottest property markets in south-east Asia. The tourist industry is growing exponentially - it's highly popular with Thai as well as non-Thai tourists. So international property investors are finding great success in buying up property to let out to tourists and vacationers. The recent opening of the Suvannabhumi (or Suvarnabhumi) airport has caused an even greater boom in tourist numbers - and fueled the demand for quality tourist accommodation.


However, if I were looking for a peaceful retirement home, or a holiday home where I could relax and enjoy the local culture and the beauty of the country, I have to say honestly that Pattaya wouldn't be my first choice. Despite the fact that it's called "Asia's premier beach resort", the beaches are not great and not a patch on those in Phuket and other places. The beaches are mostly attractive to people who like watersports and water activities. Pattaya is known as "Funtown" and is famous primarily for its bars, casinos, nightclubs and adult entertainment, and has a very lively nightlife! If this is the kind of holiday that appeals to you, then you would enjoy a holiday home in Pattaya. If you like something quieter, you should probably avoid it.


That's my opinion anyway - if you think differently, do share your views! And you can find properties in Pattaya and other places in Thailand at http://www.bizwrite.co.uk/realestate/overseasproperty.html

Buy Property in Thailand - Phuket

For those wishing to buy property in Thailand, and who know something about the country.the stunning island of Phuket has always had a specially magnetic appeal.

Tragically, Phuket was caught up in the terrible tsunami at the end of 2004, and that was how its name became better known throughout the world. Since then, many people have thought that it might no longer be an option to buy property there.

Actually, the opposite is true. Only 5 percent of the coastline was damaged and has now been almost completely repaired. The property industry in Phuket remained stable throughout 2005 and started to grow strongly again during 2006. Growth forecast estimates are about 100 percent every three years.

So really it's hard to see how you could do better than Phuket for buying properties abroad, whether it's for investment, to rent out or to live in. Phuket is the wealthiest province in Thailand. It has a superb infrastructure and a well-developed tourist industry including an international airport. Not to mention its beauty and its abundance of amazing natural features, and wildlife including elephants!

Properties in Phuket don't come up very often and they aren't always available on our site http://www.bizwrite.co.uk/realestate/propertyabroad.html However, if you're interested, do keep checking so that when one comes up you can quickly snap it up! And of course it does feature beautiful properties in other parts of Thailand.

Buy Property In Thailand - the Process

In this post discussing how to buy property in Thailand, we are looking at the basic process. Don't forget that if you buy your Thai property through our site at http://www.bizwrite.co.uk/realestate/overseasproperty.html , we will help and advise you at every stage.

1. Appoint a lawyer who is fluent in English, or in your own language if it is not English. (If you use us, we can help you with this. Otherwise you can ask the nearest consulate of your own country, or other expatriates from your own country.)


2. The lawyer needs to make various checks: that the sellers have the correct title to the property; whether there are any charges or debts owed on the property; and that the contract is drawn up correctly.


3. The lawyer will then help you through the transfer of funds and ensure that the property is registered correctly in your name.


4. To buy property you have to transfer funds from a bank outside Thailand to a bank inside Thailand. You can use any Thai bank, but Bangkok Bank seems to have the most organized set-up for international transfers. Make sure the transfer document states clearly that the funds are for the purchase of property. Bangkok Bank has also recently opened a facility for offering mortgages for overseas buyers.


5. The Initial Purchase Agreement will set out price, settlement date etc. and a 10 percent deposit is required at this stage. The deposit is refundable if the purchase does not go through, as long as it is not your fault.


6. Fees and taxes for buying property will total about 2-3 percent of the purchase price. They include a stamp fee of 0.5% and a transfer fee of 2%.


7. At completion the property will be registered in your name.

You should not find it too diifficult to buy property in Thailand - most people find it reasonably stress-free compared with many other countries. If you have personal experience, let us know if you agree or disagree!

Buy Property In Thailand - How To Own Land

In the last post about how to buy property in Thailand, we mentioned that although you as a foreign individual can own a building - e.g. a house or villa - in Thailand, you cannot own the land on which it is built.

There are a number of ways you can get round this - quite legally.

• You can set up a limited liability company registered in Thailand. There is nothing to prevent a foreign individual or couple from doing this and it will enable you to own land. However you have to pay a fee up front which comes to approximately £6,000 GBP or $12,000 USD, and there is also a monthly payment that amounts to around £50 GBP or $100 USD.


• You can purchase a 30-year lease, which you can register as renewable for consecutive periods of 30 years. You have to go to the local Land Office to sign the contract for the lease, which will be in Thai accompanied by a notarized translation into English or whatever your language is. The fee is 1.1 percent of the appraised value of the property.


• Many westerners choose to own a condo (condominium) rather than a villa. There is clear provision in Thai law for foreign ownership of up to 49 percent of units in a condo complex.


• There is another option which can be called the "romantic option"! A lot of westerners decide to marry a Thai national, which means they can buy property in the spouse's name. It is especially frequent for western men to take Thai wives. This is fine as long as it's a genuine marriage. However if you try entering into a sham marriage for the sake of owning property, you will find yourself in trouble as the Thai authorities take a dim view of it - not surprisingly! And if the arrangement breaks down, there will be all sorts of legal complications.

In the next post on how to buy property in Thailand we will look at the actual process of buying. If you would like to get started, you can visit http://www.bizwrite.co.uk/realestate/propertyabroad.html And if you have had experience of buying, or trying to buy, property in Thailand, do let us know your comments!

Buying Properties Abroad - Thailand

When you think about buying properties abroad, have you ever thought that you would like to buy property in Thailand? Maybe you have ruled it out because you had no idea how to go about it.

Thailand must be one of the most attractive places in the world to own property. You can't visit there on holiday without falling under the spell of this amazing country - its lush, exotic scenery, its wealth of beautiful temples and its delightful, friendly people. And of course it has an almost perfect climate from the point of view of sun-starved northern people!

The good news is that it is not at all difficult for foreigners to buy property in Thailand. In fact it is a lot easier than in some European countries. And of course it seems an increasingly attractive alternative to the traditional Europe holiday spots which are becoming more and more crowded.

The only catch is that although non-Thai nationals can own buildings, they can't acquire property rights to the land on which the building stands. There are a number of ways to get round this, and in the next post we will look at these. Meanwhile if you can't wait to look at some stunning properties in Thailand, you can find some at http://www.bizwrite.co.uk/realestate/propertyabroad.html