New Property
Park Lane Jomtien Resort
Visit our 1millionbaht.com to view this successful development. Start price: 1 Million Baht for 36 sq.m. fully furnished apartments with 1600 sq.m. Lagoon Swimming Pool.
The Apartment Buildings occupy a strategic position with walking distance to Jomtien Beach, only 600 meters to Sukhumvit Road and within 5 minutes you can reach some of the regions finest restaurants, shopping centers...
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How-to Buy
Freehold ownership of a condo for foreigners is allowed by Thai law. A condominium block may be of 49% of non-Thai ownership, if the proper condominium license has been acquired by the developer, this can rise to 100%.
The overseas buyer has two possibilities of owning property in Thailand, these are the freehold or leasehold options. If a condominium is still ...
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Thai Real Estate Status
The Thai property market and specific the Pattaya Jomtien market seems to be subject without a tangible outcome when reading publications be it on- or offline. There is much speculation, opinion, tension and contradiction.
Just a few facts: The property market is not slow. The saturation point is not reached and no, Malaysia will not convince anybody with their 10 year homeowner visas to buy a house in Kuala Lumpur instead of lively Pattaya, because the people of Kuala Lumpur keep coming to Pattaya, whenever...
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Thai Property Purchase Process
Standard purchase process of Thailand, and obstacles that may
rise:
Foreign freehold ownership of a condominium is allowed by Thai law. A condominium block may be of 49% of non-Thai ownership, if the developer has acquired the appropriate condominium license this can rise to 100%.
The overseas buyer has two possibilities of owning property in Thailand, these are the freehold or leasehold options. If a condominium is still within its 49% quota for foreign ownership, a freehold is available. The collective ownership of the individual condominium owners own the land on which a condominium is built, the majority beeing Thai shareholders. The corporate body, set up by the collective, governs the property.
Foreign buyers transfer the purchase funds in foreign currency from their bank (outside Thailand) to their Thai bank account. The Foreign Exchange Certificate, Thor Tor 3, is issued on receipt. This certificate is evidence that the account holder has sold or deposit the amount of money in foreign currency to an authorized local bank. All major banks in Thailand are authorized to issue a Thor Tor 3.
If a foreigner has permitted residence in Thailand under the Investment Promotion Act (IPA), a freehold to a condominium may also be purchased. The Board of Investment of Thailand issues permission to live in Thailand under the terms of the IPA. The foreigner is oblidged to present his/her passport and a certificate from the Board of Investment of Thailand as proof of entitlement.
If the quota of foreign ownership of the condominium has been fully subscribed the leasehold is an option. The effective lease period has a duration of 30 years, with 2 addtional renewal periods of each 30 years, adding up to 90 years in total.
Amazing Real Estate Market Thailand
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The following taxes and duties are due for a standard property purchase in Thailand :
- Land Tax (land levy) is set at a very low level. It can accumulate over a number of years to be collected by the authority in charge. As practice proves this levy is often not collected.
- The Structures Usage Tax only relates to properties used for commercial purposes and is collected by the municipal or district office.
- Payable on purchase or sale of property is the TStamp Duty of 0.5% .
- If a property is sold, before five years of ownership are reached, SBT will be imposed. The rate of the tax is 3.3% of either the selling or assessed price (whichever is higher) of a property .
- 2% is due for the Transferring fee of the registered value of the property.
- Income Tax which is usually between 1.0 - 3.0% is imposed on property. Bargaining who pays the income tax is worth while, because there are no set rules on who has to pay the income tax.
- There is no Capital Gains Tax.
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Thai Real Estate News
Property markets are very sensitive everywhere and react to even the smallest changes on the economic, social, or political level of a city, or region or even a whole country will be affected. Questions rises: Why is Pattaya so different...
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SMS Iguana Group
To make swift and efficient feedback possible and to guarantee the highest level of service possible to our clients, we have chosen to implement this online SMS service.
Any questions you might have in regard to investing or the purchase of your domicile in Pattaya area, Thailand, will be answered within 24 hours.
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Testimonials
Read the Testimonials Iguana Group has received from Ross-Tara Co. Ltd., Obelisk International and Uni-Serv Co. Ltd., all well established and known in the Real Estate and Investment Market.
Obelisk International
We choose to collaborate with Iguana Group on the Pattaya Heights project for Obelisk International's first project in the Thailand market. The extensive experience ...
Uni-Serv Company LTD.
We at Uni-Serv Company Ltd. have been partnering Iguana Group within ...
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