Are you looking for property abroad? Whether you are looking to buy, sell or even invest in a property overseas, the following article will provide you with a guide on where to find property in Thailand, if Thailand is on your list.
Facts for you
Thailand is officially the Kingdom of Thailand, and formerly known as Siam. It is a country located at the centre of southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and then to the west by the Andaman sea and the southern extremity of Burma. Thailand is overflowing with endless sandy beaches, gorgeous sunsets, excellent cuisine and fantastic culture to explore. Thailand accommodation
Travelling in Thailand for a holiday is a completely different story for those who want to purchase accommodation. There are many hotels in Thailand where you can temporarily have your stay, however real estate is a completely different story.
Your buying guide
How much do you plan on spending on your property? One way that foreigners often finance the purchase of a property in Thailand is to remortgage a house which they own in their native country, and thus releasing equity for their new purchase. Thailand property financing up to around 60% of the purchase price is available to foreigners through Bangkok Bank in Singapore. This is only offered through their Singapore branch, and they have an annual allocation for these mortgages, so this facility may not always be available. Considerations You also need to consider the property taxes in Thailand including: - Income tax or withholding tax
- Land transfer fee
- Stamp duty
- Specific Business Tax (SBT) Conclusion The location of your desired property will dictate the amount of property tax that is imposed. The buying process will differ from the process in the UK, and therefore it is necessary for you to do your research before taking on a responsibilty. You should always seek advice from a professional solicitor or a realtor with regards to accommodation in Thailand, ensuring that you check their credentials before doing so. Additionally, the Internet also provides many websites where you can customise searches to find the latest property lisitngs and values for the property that you want.