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Condominium Freehold Ownership
The great advantage of investing in condos in Thailand is that you can own the property in your name, i.e. freehold ownership. This is possible in accordance with the articles of the Condominium Act of 1979 (revised in 1991, 1999 and as recently as July 2008). The Act states that foreigners can own condo units up to 49 percent of the total space in every condominium project (in projects located in some selected areas, the total foreign holding can exceed 49 percent). Together with the property holding comes the right to utilize the common facilities for a yearly maintenance fee. |
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