Many foreigners dream of owning their own piece of property in the Kingdom of Thailand.
It is necessary, however, to first know and understand the law governing the purchase of property by foreigners.
While buying land by foreigners is prohibited by law in Thailand, there is no such restriction on buying and owning property.
Buying a property in Thailand may be an attractive proposition for investment or for personal purposes.
Once you have decided that you want to buy a property in Thailand, the first recommended step would be to consult a real estate agent or a lawyer who will assist you on the legal aspects of the purchasing and documenting process.
This way you are assured that all regulations have been met according to the Thai law.
There are numerous cases where foreign buyers lost a lot of money (including the property purchased) due to void contacts.
Select the location of your property
Deciding on where you want to buy the property is a time consuming task. The location will largely depend on the reasons behind the purchase.
If you want to buy property for commercial purposes such as setting up an office, you should look around the commercial sector of Bangkok which are generally Silom and along the Sukhumvit Road.
Many major companies have their offices there.
The location will also dictate the price of the property.
Selecting the location of the property for residential purposes is much easier.
Basically there are two main options: condominiums and houses inside moobaans. Both of them can be found in downtown Bangkok to the outer-skirts.
The great thing about moobaans is that you can have a nice and quiet place with green surroundings in the middle of the city.
Some other important aspects that should be taken into consideration is the distance between your new house to the schools for the kids or to your workplace.
There are many areas which are purely residential, many among which are dominated by the expats.
What are moobans (muu-baan)?
Unlike many Western countries where residential houses are scattered all over the city, a moobaan is a sort of village in which the houses are “walled up” and shut out from the outside to maximize tranquility and security.
There is mostly only one entrance which is patrolled 24/7 by security guards.
Only residents with proper identification can enter.
Most moobaans have a nice green park; a swimming pool; and a small fitness room.
Do some research before purchasing
You have to be careful of pre-existing mortgages or any kind of legal holdups of the property you are interested in.
A legal check on the property needs to be done. Similarly, if the venture is commercial, you need to have an estimate done of the evaluation of the property in hand.
Choose a real estate agent with care and do not believe in everything you hear.
Remember before you invest your money, do some extensive research of your own.
Useful links to real estate agencies in Bangkok
Real Estate Agencies:
Here are two Real Estate Agencies in Bangkok which have proven to be reliable and trustworthy:
Soho Real Estate Agency
There are also many websites in which sellers can list their venues:
Bangkok Property Agents