Buying Property in Phuket

Although buying property in Phuket is relatively simple it is still a big step for  foreign investors and there are many variants in buying into the Phuket property market, as compared to other countries. Here are a few basics that are good to know before you dip your toes in!

1. A non-Thai cannot own land on a freehold basis. Instead the land is sold leasehold for a period of 30 years. This can be extended in two parts up to a total of 90 years (for a fee). Virtual ownership of the land is assured by the fact that the property occupies the land.

2. Many property dealers (including Vista del Mar Phuket) now include a choice to buy the land in the occurrence of Thai law changing and freehold ownership becoming available.

3. If a non-Thai owns or is going to open a business in Thailand then it is possible to purchase the freehold of the land through a Limited Company. In this instance the land will be owned by the Company, not the individual.

4.  It is advisable to hire a professional and well recommended lawyer to deal with your purchase. Although English is common in Phuket, all documentation must be in Thai. By dealing with a reputable agent you can be assured that any potential problems can be avoided.

5. Vista del Mar’s legal team include experts in all issues accompanying foreign investment. We pride ourselves on our strong relationships with our Thai partners involved in the development, all of whom are business professionals with solid real estate experience and an understanding of Thai property law. This partnership ensures a conducive and accessible sales path for our buyers.