 The face of property development is changing rapidly in Thailand. It has thrived over the years due to many factors including better regulation, better infrastructure, stronger economic growth and the continual growth in tourism, particularly in the high-end spectrum. All this, in turn, has led to greater demand for properties in Thailand. In fact, last year alone, the real estate and construction industry accounted for 6.3% of the GDP or 264 billion baht. The Thai government has, therefore, recognized the significance of property development and we have seen them just recently implementing various tax breaks in order to further stimulate the real estate and construction industry. The government hopes to increase the GDP of the sector to as much as 7% with this stimulus package. |
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 The question always come to the fore as to why people need to use a reputable law firm in Thailand when buying any form of real estate., be the property a condominium in Pattaya, Bangkok or Hua Hin or a villa on Phuket island. Legal advice is always best taken from a registered law firm and independant from the estate agent. There are certain documents which can and will be drafted for you when looking at property. We have listed the legal documents below. Would you buy a property at home from an estate agent without consulting an attorney if the property market was unregulated? So why do it in Thailand?
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 Condominiums are very popular with most expats and investors in Thailand. The reason being that many foreigners but condominium units in Bangkok, Pattaya, and villa's in Phuket for the purposes of investment or for their retirement in Thailand. Unlike your home country the rules with regard to property and property transfers are not the same as in your home country. There are rules but it is always best to seek advice from a registered law firm in Thailand to avoid the many pitfalls with regards to property and transfers in the Kingdom. |
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