Noob question about buying property

[TimboMull]

Hi - I gather from all the stuff I see online, that to say the Thai property market is complex would be an understatement.
So I'd like to clarify two things, if possible?
1. Foreigners can buy a condo, as long as farng occupancy in the building doesn't exceed 49%
and
2. Foreigners can buy a townhouse, but only on a leasehold basis, renewable every thirty years or so.
If No. 2 is correct, is there a huge fee or something, for a renewal?

There's no wife or Thai involved, by the way.

Any help, greatly app!

Tim.

[Nereus]

Hi - I gather from all the stuff I see online, that to say the Thai property market is complex would be an understatement.
So I'd like to clarify two things, if possible?
1. Foreigners can buy a condo, as long as farng occupancy in the building doesn't exceed 49%
and
2. Foreigners can buy a townhouse, but only on a leasehold basis, renewable every thirty years or so.
If No. 2 is correct, is there a huge fee or something, for a renewal?

There's no wife or Thai involved, by the way.
Any help, greatly app! Tim.

Yes, you are basically correct. For a townhouse it is basically the same as a separate house and the fees, AND the renewal, depends entirely on the owner of the land, plus what it costs to register a lease.

Stay away! Buy a Condo in you own name, if you must!

[TimboMull]

Cheers Nereus!
Not sure if there's a slight ambiguity here: do you mean buying a condo is prefereble (legally/financially) to a townhouse?
It's the '... if you must' that threw me!
Thanks again - Tim.

[Nereus]

It's the '... if you must' that threw me!

No ambiguity. It simply means if buying something is what you need to do!

Condos are secure and legal, but one thing that you need to watch out for is how the Juristic is managed. Try and find out from existing owners how well the complex is maintained. It can become a problem with some developments where some of the co-owners consider themselves above paying the common fees. The result is rapid deterioration of the building and services, resulting in rapid lowering of the value. If a lot of the units are rented out that can also result in problems. Much better if the majority of residents are actual owners.

[TimboMull]

Ah.... I see - thanks for that excellent insight.
There's more to this than meets the eye!
Cheers