Guide to Buying Property in Thailand

Budget Buying - Thailand Property

Your first step is to work out your budget or how much you can afford to spend buying property in Thailand.

One way foreigners often finance the purchase of Thailand property is to remortgage a house they own in their native country, releasing equity for their new purchase.

Thailand property financing of up to 60% of the purchase price is available to foreigners through Bangkok Bank in Singapore. This is only offered through their Singapore branch and they have an annual allocation for these mortgages, so this facility may not always be available.

If buying a condo, you need to show that the funds have been sent into Thailand in foreign currency converted to Thai Baht on arrival from overseas.

The local receiving bank should be asked to provide the buyer with a Tor Tor Sam 3 Certificate of Remittance, stating that the funds arrived for the purpose of buying a Thailand condo. The certificate does not need to specify a particular Thailand condo.

In your budget calculations, do not forget to add on the extras associated with your Thailand real estate purchase:

Thailand Property Taxes:-

1. Income Tax or Withholding Tax
2. Land Transfer Fee
3. Stamp Duty
4. Specific Business Tax (SBT)

Buying Property in Thailand - Legal Costs

Please see Thailand Property - Taxes and Costs for more details. As a rough guide add 5% to your budget for these extras.

Location - Buying Property in Thailand

Your next step is deciding where you want to live.

Your budget and your desired lifestyle will influence where you want to live.

To start with take a look at the average Thailand real estate values in the areas you are interested in, checking Thailand property websites on the internet will give you a good idea. The best one is Siam Homes, Thailand's property portal. This will give you a good indication of whether the Thailand real estate in these areas are within your price bracket.

The Thailand property that you purchase is likely to be one of your most valuable financial assets; therefore, you should try to select a property that is likely to substantially increase in value over time.

Locations to consider are those where Thailand real estate prices have performed well in the past in terms of capital appreciation.

You should look for signs of other infrastructure development in the area you are considering, new roads, rail links, airports, new shopping centres , sports or leisure facilities can all lead to Thailand real estate prices rising in this location.

You will need to select a location that meets your own lifestyle requirements; you may want to consider local amenities such as:

Type of Thailand Property - Buying

Your next step will be to decide on the type of home that you want.

Again, your choices may be influenced or constrained by your budget. For example, if your dream home is out of reach at the moment, you could decide to buy a plot of Thailand land and wait until you have the funds to build.

If you keep a pet, a dog or cat, your choice may be restricted, as many Thailand condo developments do not allow pets.

Here are some of the options you well may wish to consider when deciding on your type of property in Thailand.

Type of Thailand Property:

Thailand House - detached, semi-detached, terraced, shophouse, townhouse.
Thailand condo or apartment.
Thailand Land - Plot for building on either now or in the future.

New home or a resale
Ready to move in or in need of renovation

Number of bedrooms
Number of bathrooms
Number of reception rooms

Terrace, yard, courtyard or balcony
Garden - land size
Garage, under cover or off-road parking

Aspect - North, South, East or West Facing
Views - Beachfront, Cityscape, Countryside, Sea, Mountain
Privacy and security

Thailand Property - Infrastructure

Access roads to your house or land plot - if they are not there you will have to pay for a new access road.
Water - Mains water and supplementary storage facilities, cleanliness of mains water, it may not be useable.
Hot water facilities - nearly all in Thailand are instant and not storage.
Electricity - Mains connection, you may have to pay to extend the mains to your property. Backup generators for condominium blocks
Pest Control - localized spraying and flywire screens on windows

Thailand Property Features:

Swimming pool
Gymnasium
Telephone
Cable or Satellite TV
Internet Access
Air Conditioning
Electrical White Goods

Timescale - Buying property in Thailand

Your next step in to consider your timescale for moving in to your new home.

You may have to move out of rented accommodation by a certain date or perhaps you are relocating as a result of an employment transfer.

If you are getting a new house built or renovating a house, you may have to rent whilst you are waiting for the building work to be completed.

Please remember that almost always building work will take longer to complete than you are initially told by your builder or property developer in Thailand.

Whatever your circumstances, you will need to plan ahead to ensure a smooth move to your new home.

With Siam Homes Property Portal you can view a selection of homes from most of Thailand real estate's agents saving you a lot of valuable research time.

You can do your research and plan your move months in advance.

The selection of Thailand properties will give you a good idea of the type of Thailand real estate you can afford within your budget, in your chosen location, and assist you when buying property in Thailand.

Thailand Real Estate - Home Hunting

Your next step is to start your home hunting.

The internet will be the logical first step for investors who are buying property in Thailand.

By using Siam Homes property portal you can view many properties online with full details and photos to narrow down your search for Thai real estate.

Viewing Thailand properties can be a time consuming and tiring process and so it's a good idea to make a shortlist of the Thailand real estate you are interested in viewing by thorough research through our online portal.

Many people buying property in Thailand are foreigners and so their time in the country can be limited, the internet is the best way to keep up to date with the Thailand property market.

Use our search features to access a wide selection of Thailand property, adding your specific criteria to narrow your search, ensuring that you only need to view the Thailand real estate that closely match your chosen criteria.

You may also want to use other sources such as:

1. Thailand national and local newspapers
2. Thailand property magazines and media
3. Thailand real estate agents' display windows
4. 'For Sale' signboards on Thailand properties

Drive around the locations you are considering, this may make your final choice of location clearer. If you see the type of property you want in the location you desire take a photo, and show your real estate agent, he may have similar suitable Thailand properties available.

Get to know your real estate agent, after researching our website you should have a good idea which agents have properties matching your chosen criteria.

We offer the facility for you, by using our online form to e-mail any of your chosen real estate agents with your criteria; they can then start searching for properties for you.

One of the major advantages of letting the real estate agent know exactly what you are looking for in a Thailand property is that he can inform you about new properties as soon as they come onto the market. This is an excellent way to keep at the front of the queue for the best real estate deals.

By letting your real estate agent know your criteria and then carefully selecting properties you wish to view you will be letting your agent know that you are serious.

This is very important as real estate agents are busy, and get many timewasters, after establishing a good relationship and letting him know you are serious about your purchase, he will be willing to devote his time to finding you, your ideal home in Thailand.

Viewing - Thailand real estate

Your next step is to view your chosen properties.

It is a good idea to make notes as you view, and take your own photos, this will help you in your recollections of the various features of each property.

Make a list of the positive and negative points of each property you view, this will help you compare them later.

The viewing including traveling time is a good time to get to know your real estate agent. He should be happy to assist with any questions you have and building a good rapport with him will help you with your search.

Every buyer is different and there is no set rule as to the number of properties you will wish to view before coming to a decision on your favoured property, it is likely though that you may have viewed at least 10 before deciding on your favourites.

At this stage it may be a good idea to arrange second viewings of say your favourite 2 or 3 of the properties you have viewed. Try and arrange these second viewings at a different time of the day, for example if you first viewing was in the early morning, arrange to visit in the late afternoon or early evening. You will often form a different impression of a property dependent on the light or weather conditions, and this is why the second viewing is so important.

If you are buying a brand new property in Thailand this should be in first class condition and covered by the builder or property developers guarantee for a number of years.

If you are buying an older property in Thailand or one in need or renovation the second viewing is a good opportunity for you to assess the condition of the property. Please consider the points below when making your assessment of the condition of your chosen Thai property:-

Search our website for Thailand property for sale.

Thailand Property & Thailand Real Estate