Phukettia Real Estate: Frequently Asked Questions (FAQ)

1. Can foreigners own land in Thailand?

• Answer: Generally, foreigners cannot own land in their own name under Thai law. However, they can own buildings or structures on the land. There are also alternative legal structures like setting up a Thai company or entering a long-term lease (up to 30 years) to secure land use.

  
  

2. What is the process for buying a condominium in Phuket?

• Answer: Foreigners can own a condominium unit in their own name, as long as the project has a “foreign quota” (up to 49% of the total unit area). The process involves selecting a unit, signing a reservation agreement, making a down payment, and then completing the transfer of ownership at the Land Office.

  
  

3. What is a “Leasehold” vs. “Freehold” property?

• Answer: “Freehold” means you own the property outright. “Leasehold” means you have the right to use the property for a long period, typically a 30-year lease, which can often be renewed. Freehold is generally available for condominiums (within the foreign quota), while villas and land are often sold under a leasehold agreement to foreigners.

  
  

4. What are the associated costs of buying a property in Phuket?

• Answer: Besides the purchase price, you should budget for transfer fees, stamp duty, specific business tax (if applicable), and possibly legal fees. We will provide a clear breakdown of all costs for your chosen property.

  
  

5. How long does the purchasing process take?

• Answer: The timeline can vary. A straightforward condominium purchase can take 2-4 weeks, while more complex transactions involving land leases or company setups may take a bit longer, typically 1-3 months.

  
  

6. Do I need a lawyer for the property purchase?

• Answer: While not legally required, we highly recommend engaging a reputable, independent lawyer. They can perform due diligence on the property, review contracts, and ensure your interests are protected throughout the process. We can recommend trusted legal partners.

  
  

7. Can I get a mortgage in Thailand as a foreigner?

• Answer: This can be challenging as most Thai banks do not provide mortgages to foreigners. However, some international banks with branches in Thailand may offer this service, subject to strict criteria. We can provide guidance on this.

  
  

8. What documents do I need to prepare for a property purchase?

• Answer: You will need a valid passport. For a condominium purchase, you will also need to prove that the funds for the purchase were transferred from overseas in a foreign currency. We will guide you through all the necessary documentation.

  
  

9. Can I rent out my property when I’m not in Phuket?

• Answer: Yes. Many of our clients purchase properties for both personal use and as an investment. We offer comprehensive property management services, including marketing your property, managing bookings, and handling maintenance.

  
  

10. Why should I choose Phukettia Real Estate and Yacht?

• Answer: We are more than just real estate agents; we are your local experts. We offer a curated selection of premium properties, provide a complete end-to-end service, and have a deep understanding of the Phuket market. Our goal is to help you find not just a property, but your perfect lifestyle.