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!

How To Buy Property In Spain - The Next Step

Once you have chosen the area where you want to buy your property, book into an hotel for a few days and explore. If possible and practicable, try to visit the area more than once at different times of the year, to make sure you like it in the off-season as well as at the peak of the holiday period. Of course if you live in the USA, you may not be able to do this.

Before starting your search for your actual property, write down your budget and stick to it. Most properties in Spain look so gorgeous in the sunshine that it's easy to get carried away, especially after a few glasses of Rioja! If you are tempted to offer more than you can afford, you will soon find yourself in serious problems!

When you find properties you are interested in, make sure you are able to view them as often as you wish. If any owner wants to restrict you to a single viewing, walk away. After your first viewing a lot of questions will occur to you so write them down before you go back. Try to view the properties at different times of day and in different weather conditions.

I know this has been said already but it can't be emphasized often enough. Before making even a preliminary offer MAKE SURE YOU HAVE A LAWYER. And make sure it's one who speaks both Spanish and your language, one who knows all the ins and outs of Spanish property law, and one you can trust. If you are using an estate agent, don't accept the lawyer recommended by your agent. This may be tempting as it would save you time, but you must have someone who is acting in YOUR interests. You can't be sure that the lawyer would not be acting in the interests of the estate agent as a return for putting business his way. Ask around other expatriates from your country - they may well have someone they can recommend (or someone they can warn you against!). Or ask your local consulate who will probably have a list of recommended lawyers.

I hope these tips on how to buy property in Spain are proving useful - do join in with comments if you agree or disagree or if you have anything to add from your own experience. If you are ready to start looking for your property, you can try http://www.bizwrite.co.uk/realestate/propertyabroad.html - you'll get lots of help with the practicalities as well!

Buying Homes in France - How To Do It

Buying homes in France is actually easier for foreign nationals than it is in many other countries, such as Greece. There are actually no legal restrictions on non-French people buying property and I haven't heard many horror stories - if YOU have a horror story, or have heard any, please get in touch! The only problem some foreign buyers have met with is that in some areas that are very popular with overseas buyers, the local people have sometimes shown resentment at their village or town being "taken over".

Of course you can't really blame them for this, especially when the "incomers" insist on speaking English, setting up shops, cafes and restaurants selling their own type of food, etc. Half the enjoyment of buying properties abroad is in learning about other people's way of life. And the French way of life has A LOT to recommend it! (Likewise French food!) So I would suggest if you want to get the maximum pleasure from your new home, that you are prepared to learn some French, and fit in with your neighbors a bit. They may even become your friends and you will enjoy your property so much more! That's my experience anyway - let me know if you agree or disagree!

Of course, when buying homes in France, the first step is choosing your property. You can do this the same way as you would at home - by looking in the windows of estate agents (immobiliers). However, if you buy your property through estate agents they will charge you 10 percent. The other way is to drive round looking for houses with an "A Vendre" (For Sale) notice. It's very common in France to sell property privately so if you see a house you fancy, there's nothing to stop you starting negotiations with the owner. However, if you don't speak French, it's a good idea to take a French speaker with you. A lot of French people wouldn't appreciate someone turning up at their house and insisting on talking English to them, even if they do speak English themselves.

In the next post we'll look at the legal process of buying homes in France. And if you can't wait to start your search for your perfect French property, you can go to http://www.bizwrite.co.uk/realestate/propertyabroad.html for a wonderful selection!

Buying Properties Abroad - France

As we have observed before, there are many reasons for buying properties abroad. In recent months, the problems in the home property market in both the USA and the UK have become one of the foremost of these reasons. People are looking for an opportunity to invest in an area where property can still found at quite a low price, but where there is a good chance of growth in the market.

France is increasingly attracting people looking for this type of property. France is really a very seductive place to look for your home. As you drive through the French countryside, you really marvel at the absolutely magnificent scenery with its wealth of ancient castles and medieval villages. And if you stay for even a few days, you will be completely won over by the delectable food and the amazing variety of superb wines.

UK residents have been buying homes in France for many years now. Of course it's very easy for British people to get to - even before Eurostar, it was a fairly short hop across the channel. Many British folk find the lifestyle delightful and much more relaxed than living in the UK. Plus, of course, they have probably paid a lot less for their property than they would have done in Britain!

Now, the idea of buying homes in France is becoming increasingly attractive to US citizens too. It seems like an escape from the growing problems in the property market in the USA.

But how easy is buying homes in France for the US or UK resident? Well - there's one thing you can be sure of, and that is that real estate processes are very different from those in either the USA or UK - though not necessarily all that difficult. In the next post we will go through the house-buying process in France step by step. If you have any tips or experiences to share, please do! And you can find some lovely French properties at http://www.bizwrite.co.uk/realestate/propertyabroad.html or http://www.bizwrite.co.uk/realestate/overseasproperty.html

Buy Real Estate in Greece - What You Need

So you want to buy real estate in Greece. And you have decided where you want your property to be! A very difficult choice - unless you had already fallen in love with one special spot. So what do you do now?

There are some things you need to do before you start the purchase process.

• The first thing you have to do if you're a foreign national is get a tax number. This is called AFM which stands for "arithmo forologiko mitro". (As you will guess, "arithmo" means "number"!) You can get this number from any tax office. If you are from USA or UK, you have to produce your passport and fill out two tax forms, the M1 and the M7.


• You have to open a bank account in Greece. When you transfer the money to the seller it has to come directly from a Greek bank.


• Another very important requirement is that you have to account for the money you are using to buy the property. You have to satisfy the authorities that it is from a legal source. If your funds come from outside Greece, as they almost certainly will, you must transfer them in to the Greek bank account you have opened. It is absolutely essential that you keep a copy of the bank transfer and the "pink slip" issued by the bank. You have to be able to account for the full amount of what you pay for the property - if you can't, it will be assessed as "unreported income" and be liable for full tax!


• Finally, you must hire a lawyer (dikigraphos - the "d" is pronounced "th" as in "the"). Unless your Greek is very fluent, you need one who speaks English! You should be able to get a list of recommended ones from the US or British consulate.

Now you are ready to start your buying process! This where the fun begins! In the next post we will go through the process in detail. If you have been through it and have anything to add, please do - likewise if you have any questions. And if you can't wait to start your search for a gorgeous Greek property, you'll find a fantastic selection at http://www.bizwrite.co.uk/realestate/propertyabroad.html or http://www.bizwrite.co.uk/realestate/overseasproperty.html

Buying Properties Abroad - To Live In!

A third major reason for buying properties abroad is the biggest step of all. You're planning to sell up in your home country and to move into your new home permanently.

As I mentioned a few days ago, this is something Brits have been doing for several decades now. Most of them have made the move for their retirement, but an increasing number find it possible to live in France and commute to Britain, or else carry on working from their home or set up businesses in their new country. The largest number probably move to Spain, but lots also find homes in France, Italy, Greece, Bulgaria and other European countries, Turkey, and even further afield in countries like Thailand.

Now it seems that more and more people in the USA are having the same idea. The most common reason for British people is probably the British climate! They fancy the idea of moving to the sun. The main reason why it has increasingly been catching on in the USA in the past 12 months is probably the problems in the property market. You can often get more house for your money in many of these countries. But many people are also becoming more and more attracted to a more relaxed and less pressured lifestyle.

For those buying properties abroad to live in permanently, there are a number of things to look out for. It's really not a good idea to spot a property in a place where you have enjoyed a couple of weeks' vacation, and decide this is where you want to live.

First and foremost, you need to be hard-headed about the decision. Go home, get out of your holiday frame of mind, and make a list of the pros and cons.

You must get to know the area before you can decide if it's a place where you want to live. You can manage without good shopping facilities for a couple of weeks, but would the shops meet your needs on a permanent basis? Visit at different times of year to see if you can handle the climate in the off-peak season. Can you get along easily without speaking the language? If not, is it an easy language to learn?

Are you sociable people? Are you happy with your own company or do you need to have friends around? If you need folks around, are there plenty of congenial people in the neighborhood whom you know you can get along with? If not, you could get very lonesome and start missing life back home - this happens to many people but they only realize when it's too late. If you have hobbies, are there the facilities there for carrying on your hobby?

And DO check out tax, pension and health care arrangements. Many people have been caught out by finding out too late that their pension is not payable in full in another country. Find out what medical facilities are available and how much medical care costs, especially if you have a medical condition.

Many, many people find a happy, fulfilling life in another country - but they are the ones who have considered it carefully beforehand. Don't be one of the ones who live to regret it! Take lots of advice and make sure it's the right decision for YOU. And when you've made your decision, find your property at http://www.bizwrite.co.uk/realestate/propertyabroad.html or http://www.bizwrite.co.uk/realestate/overseasproperty.html

Buying Properties Abroad - Holiday/Vacation Homes

Another very common reason for buying properties abroad is to use as a vacation or holiday home. This could be primarily for yourself, perhaps just letting it out occasionally or allowing family and friends to use it. Or it might be with the intention of setting up a vacation rental business - in which case you may well have a number of properties.


If people are buying properties abroad for holiday/vacation use, the factors to consider in choosing a locality are different from those for investment properties. They include:

• Ease of travel. This applies whether it's for yourself or for rental, or both. You may be choosing the area because it's near an airport, but make sure there are flights there from an airport that's convenient for you. Suppose those flights were discontinued - would there be a reasonable alternative?


• Is it a place where people WANT to go on holiday? If it's just for yourself, it doesn't matter too much if it's in a fairly unknown area - in fact that might be a plus. But if you're setting up a business, you need to be certain you would have enough rentals to make it pay.


• For the same reason, check local competition. Even if it's a fabulously popular location, you would struggle to break into the market if there's already an established rental culture.


• And check the length of the rental season too. Can you only count on letting it out in a fairly brief peak season, or is there a pleasant year-round climate which might mean you could count on letting it out for most of the year?


• Whether it's for yourself or for rental, DO be thorough about looking into local planning/zoning laws. It has been known for purchasers to have their property demolished by the authorities because the land was developed without the correct permission.


• And while doing this, check whether there are any developments planned in the immediate neighborhood of the property. You may have fallen in love with it because of its stunning sea view, but arriving the next year to find a huge apartment block between you and the sea might rather spoil your enjoyment!

This isn't meant to be gloom and doom! If you're expending the money on an overseas property, it makes sense to avoid the pitfalls. Buying properties abroad should mean excitement, pleasure and fun! So make sure you avoid risks that could ruin your experience!

I'm sure there must be other points to note. If you've had personal experience, good or bad, please share it. Also if you have a question, please ask - if I can't answer it, perhaps someone else can. And if you are looking for a property, there's a gorgeous selection at http://www.bizwrite.co.uk/realestate/propertyabroad.html or http://www.bizwrite.co.uk/realestate/overseasproperty.html

Buying Properties Abroad - A Great Investment

Yesterday we looked at different reasons for buying properties abroad. One of these was buying as an investment. This could be a way of investing money you have inherited or received as a bonus.

If buying properties abroad is seen as an investment, rather than as a holiday home, obviously the first consideration will be the extent to which a property is not only going to hold its value, but appreciate in value. So if this is your intention, the first thing you need to do is investigate the market.

Now this is where things get a bit complicated. You don't have a crystal ball - so you can't predict precisely whether a property is going to hold and increase its value. Just the fact that a property is cheap doesn't necessarily mean it's going to go up. Quite a lot of people have bought property overseas because the salesman assured them the market would take off - only to find that this never happened.

Some people say you should buy in countries with a proven track record, such as Spain and France. Others say that these are saturated and you should look further afield. In actual fact there are still some remarkably low-priced properties to be found in France so you could possibly find a good investment here. If buying in Spain you need to be VERY careful - many people have got their fingers burnt through not checking the legalities thoroughly enough.

Some of the things you should check include:

• Is inward investment in the country on the increase? For instance, countries which have just joined the EU, such as Bulgaria, could be a good prospect.


• Is the government making major efforts to improve the infrastructure? There are good reasons for believing that Egypt and Turkey, where properties are quite low-priced at the moment, will prove a profitable market. In Egypt because the government want more people to come to the country, and in Turkey because they are desperate to join the EU.


• What are the prospects for political stability in the country? Most EU countries are relatively stable. If there is the prospect of political upheaval in a country, obviously a property bought there might not be a good investment.


• Are there problems with the climate? Many people buy properties based on the fact that they enjoyed a holiday in that country - but that would have been in the peak holiday season. In places like the Caribbean where there is a risk of hurricanes and tornados at certain times of the year, a property might not be a good investment.


• Take expert advice on the economic outlook of a country where you are considering buying investment property. Economic conditions have a powerful effect on the property market and therefore on the chances of your property proving a good investment.

These are certainly not all the factors to consider, but they are some of the main ones. Buying properties abroad, and all types of investment, always carry some degree of risk but you can make sure you keep the risks to a minimum. I would love to hear your views or experiences - have you made a good or bad investment in property abroad? Have you got any tips or warnings for people considering taking this step? If you want to find a fantastic selection of properties go to http://www.bizwrite.co.uk/realestate/propertyabroad.html