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Phuket Property Guide: What makes a condo in Phuket?
In our previous article we wrote about freehold property ownership, which is mostly limited to condominiums. Here, we go through the basics of what is defined as a condo in Thailand, and what that ownership means.
Phuket Property Guide: Getting a foothold on freehold
Any foreigner buying a property in Thailand must always contend with one major hurdle: they are prohibited from owning land. For the sake of clarity, this refers to any villa, estate house, shophouse or townhouse, the ownership of which is inextricably tied to the land. In other words, “landed property”.
Phuket Property Guide: Driving downward pressures
While the outlook for Phuket property is generally positive, as we detailed last week, every market carries potential risks and pitfalls. This week we look at the factors that negatively affect Phuket’s property market.
Phuket Property Guide: Positives in the driving seat
The vast majority of buyers in Phuket today have a positive outlook on the property market, and it is easy to see why. It is always good to understand what influences any market, and here we examine the key drivers ahead for the Phuket real estate sector.
Phuket Property Guide: Your shelter is not a tax shelter
We touched on this in our first instalment, but we’ve since had a lot of questions about why a company-owned property should create an income tax liability for you. Today we expand on this – and we hope that existing owners don’t find it too frightening.
Phuket Property Guide: The Law & Due Diligence
Buying a property in Thailand is no different to most other countries, in that a capable legal professional is needed to guide you through the entire process. This suggestion is, of course, a no-brainer, and you’ve doubtless heard it before. But it is astounding just how people decide to ’go it alone’ or rely on a friend’s ‘expert understanding’ of Thai law when buying a property here – only to come seriously unstuck later.
Phuket Property Guide: Taking on the taxman
This is the first in a series of articles on the Phuket property market, including its bear traps and pitfalls. For example: Did you know you should be paying tax on your rental income?