Condominium Purchase in Thailand Purchasing a condominium in a tropical paradise is a dream for many foreigners who wish to escape the cold winters and the high cost of living in their home country. Thailand offers the foreigner many benefits including beautiful beaches, tasty food, friendly people, world class health care and inexpensive property. Many foreigners come to Thailand to purchase a condo for various reasons: for their retirement, as a second residence or for investment purposes. For those who desire to stay longer in Thailand, the ability to acquire property is an important issue. Many foreigners prefer to reside
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Foreign Condominium Ownership In Thailand And Sale-able Floor Area
Foreigners are not allowed to own land in Thailand in their own name but foreigners are allowed to own and buy condos in Thailand freehold in their own name. Buying a condominium in Thailand is a popular real estate investment for foreigners but foreign ownership is limited to a quota. Foreign ownership in a condominium or condominium development project is limited to 49% of the sale-able total floor area within that condominium. The remaining 51% of the floor area in the condominium must be owned by Thais. An important aspect of a condominium purchase is the fact that the unit
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