When you buy an apartment in Thailand, the amount of expenses depends on the form of the ownership. Besides that, you are still expected to pay taxes and several different fees.
Registration Fee
When you registrate your transaction, the Land office takes several types of one-time fees. The amount of each depends on the type of a property and ownership (leasehold or freehold), period of ownership. The total sum is shared between a buyer and a seller in equal proportions. If you buy in a leasehold, you will have to pay 1.1%. Buying in a freehold would make you pay 2% from the property cost.
Realtor’s Fee for the Deal
In Thailand buyers don’t pay commission to their real estate agent. It is an obligation of sellers. You can count on full support on every stage of the deal, up to the control of the construction process and acceptance of the finished apartment.
According to the Thai law, the construction company must have a capital repair fund that contains of money that will be spent on unforeseen work in the complex. These funds are collected from real estate buyers. It is a one-time payment of 400-800 baht per sq. m. You will pay about $650 for a regular 50-meter apartment.
Freehold Fee
Developers specify standard prices for apartments in leasehold. If the freehold status is important, the surcharge will be about 10% of the property cost.
What is leasehold?
There are two forms of property ownership, like in the UK, where this system is borrowed. Freehold is free ownership. Leasehold is a long-term lease (standard term - 90 years). Leasehold transactions are registered with the Land Department, and the buyer gets all typical rights to dispose of the property, which are to lease, sell, gift, pass on inheritance, and so on. The only restriction is the need to extend the lease term every 30 years.
Furnishing
New buildings in Thailand are sold with full finish, plumbing, air conditioning, equipped kitchen and built-in wardrobes. But to start earning money on rent, housing must be furnished and have all necessary accessories. A standard package from the developer for a 30-meter apartment costs about $10 000.
Connection of Utilities
State agencies charge developers a fee for connecting each apartment to utility services – $300-600. Some companies collect this money from buyers.
State Tax
Thailand didn’t have annual taxes until 2020. The media reported that in the future they will appear. In any case, the discussed rates are minimal: 0.03% of the real estate price per year and only for properties of more than $315 000.
Compound Maintenance
Almost every new building in the resort areas of Thailand has a shared pool, gym and security. Usually, those compounds that are built according to the hotel standards have such infrastructure as SPA, tennis courts, golf course, water slides, play rooms for kids and much more. Property owners pay for the maintenance of these facilities. The standard rate is $2 per sq.m. of real estate per month. As a result, you pay about $1 200 a year for a 50-meter apartment.
Residential Property For Sale
420 232 €
Townhouse on Phuket Island, Thailand
211 sq.m23
In the complex: a large complex of townhouses and villas with their own park areas, a protected area, located on the territory of one of the largest hotel complexes in Asia. About thirty restaurants and bars, several SPA centers, a golf club, an excellent beach club, a large swimming pool, a children's center (up to 12 years old), sailing,...
Exotic Property
65 377 €
Apartment on Phuket Island, Thailand
27 sq.m11
In the complex: a large complex of 7 four-storey buildings with 40 apartments each, three communal swimming pools, sauna, gym, reception, office of the management company, parking, 24-hour security.
In the apartments: the complex has a unique location, directly on the first line of Rawai beach, 30 meters from the sea. Inside the apartment,...
Exotic Property
109 515 €
Apartment on Phuket Island, Thailand
29 sq.m11
In the complex: a large complex with various apartment layouts, 9 buildings in total, 8 studio apartments with 1st and 2nd bedrooms are located. A separate building is dedicated to the infrastructure of the complex, which includes: lobby, reception, SPA, restaurant, banquet hall, fitness center. There are several large swimming pools on the...
Exotic Property
136 413 €
Studio on Phuket Island, Thailand
44 sq.m111
The condominium with sea view consists of 112 studios and 61 apartments with 2 bedrooms.
Apartment - type A: studio - 44.2 sq.m
Price: from THB 5.170.700 ($145.375)
The location is within walking distance to the beaches of Karon - 650 m and Kata - 1.5 km.
Infrastructure of the complex: 3 swimming pools with panoramic views, 3 bars,...
Intermark Global
84 734 €
Apartment on Phuket Island, Thailand
36 sq.m111
Fantastic one bedroom pool access condominium, only two years old, five minutes from the beautiful Nai Harn and Rawai beaches. fantastic location within walking distance of many local and international bars restaurants and shops .
Habita International Estates Ltd
101 823 €
Apartment on Phuket Island, Thailand
37 sq.m111
Every resident enjoys the simple pleasure of a stunning sea view of The Andaman Sea from the tranquility of this boutique hillside collection of just 27 bespoke units on the west coast of Phuket.
Habita International Estates Ltd
102 644 €
Studio in Phuket, Thailand
25 sq.m1
Online ViewingRemote Transaction
The complex is located on the east coast near the city of Phuket, Asia's largest water park, marina and secluded islands - all this attracts tourists from all over the world to the location. The East coast is a more secluded part of the island, the Thai cultural atmosphere is better preserved here, while there is a high potential for price...
Intermark Global
347 863 €
Flat in Pattaya, Thailand
165 sq.m32
Grand Condotel Pattaya is a condominium located in the South Pattaya area at the beginning of Jomtien district, a few steps from the beach. The condominium was built in 1988. The complex includes two buildings with a height of 12 floors. There is a tennis court, a large communal swimming pool, a gym, a tropical garden, parking. There are many...
Discover an exclusive standard of living in a luxurious apartment complex by the renowned developer Art House Group, located just 100 meters from the stunning Karon Beach on the island of Phuket.
The Hennessy Apartment Complex provides a complete set of premium-class amenities, including restaurants with exquisite cuisine, pools, lobbies,...
The villa is a property consisting of 4 bedrooms with bathrooms. The villa is located in the highest part of the estate and has a large garden with an ancient gazebo, a private road and a covered garage for 2 cars.
The estate is a prestigious and relaxed refined residence consisting of only 6 exclusive houses, thoughtfully scattered over 22,400...
The largest residential area in Phuket. Situated on 1 square kilometer among green hills, forests and lakes. Own beach club. New residential complex from the world-famous Laguna Phuket resort.
Offer from 6,480,000 baht!
Luxurious life in a luxurious nature reserve.
Away from the daily hustle and bustle of the city, Phuket is a green...
Sea Heaven is a luxury investment condominium on the shore of Nai Ton Bay, made in a modern design and various layouts, with an area of 29 to 77 sq.m.
The complex consists of 5 residential 8-storey buildings and accommodates 476 apartments.
Each apartment has a living room area, a European-style kitchen and will be an ideal place for an...
Apartments from 27 square meters with one bedroom to penthouses of 214 square meters prices range from 3.04 million baht - 41.4 million baht in a luxury High-Rise condominium located in one of Pratumnak’s most sought-after areas. Allowing Owners to enjoy 5-Star Living, with World Class Facilities offers escape from the city whilst still being...
Habita International Estates Ltd
365 000 €
Flat in Phuket, Thailand
72 sq.m111
Discover an exclusive place to live in the picturesque Layan Beach area. This project is the embodiment of an innovative concept in architecture and design, where nature and modern technology are harmoniously combined.
We offer unique living conditions surrounded by a variety of parks, gardens and lakes. Our residential complex is located on...
Mercury Group
760 000 €
Flat in Phuket, Thailand
168 sq.m333
The complex represents a new benchmark in the world of hospitality, offering a unique experience to its guests. Located in leading cities around the world, including New York, Miami and London, the complex strives to offer its guests not just housing, but a lifestyle filled with aesthetics and amenities.
At this hotel, art and fashion culture...
Mercury Group
144 356 €
Flat in Phuket, Thailand
42 sq.m211
Online ViewingRemote Transaction
Investing in Oceana Resort Kamala Phuket apartments is a unique opportunity to earn rental income and increase prices per year. The yield is from 7%!
There is an installment plan!
The apartment is furnished!
Oceana Resort Kamala Phuket is an apartment located about 700 meters from Kamala Beach. The windows overlook the sea.
Facilities:...
DDA Real Estate
200 000 €
Flat in Phuket, Thailand
34 sq.m111
Offering not only real estate, but also inspiration taken from nature itself, this project is located in a strategically advantageous location. Every aspect of this project is designed to capture and convey the essence of harmony and beauty in the world around us.
Architecture inspired by nature: the curves and lines of the facade of this...
Mercury Group
51 983 €
Apartment in Phuket, Thailand
24 sq.m
Modern condominium consisting of three 8-storey buildings located in the center of the island, in the Kathu area. The design of the project is based on the concept of unity with nature, inspired by the sea, sandy beaches and green mountains of Phuket. Developed amenities of the complex provides access to an unforgettable and comfortable...
Location:
➤ The north of Phuket is the direction for prospects. The south of the island is already quite built up, the next location for development will be this part of Phuket
➤ 400 meters to the beach, with a reef 1 km from the shore. The reef is a place for diving and snorkeling, as well as during the rainy season, the reef prevents the...
LIFE CITY REAL ESTATE
209 796 €
Flat on Phuket Island, Thailand
47 sq.m211
Online ViewingRemote Transaction
A unique offer from a leading developer in Phuket. It is one of the top 5 best developers in Phuket. The complex is 100 meters from the sea. Guaranteed income of up to 7% for 3 years, projected income of up to 12%. Just now, the start of sales, the lowest price! A discount of $ 14044! After the start of sales, the price will increase by 30-40%!...
In Thailand apartments have utility meters. You must pay for electricity and water according to them. Prices are lower than in Europe. The city's electricity rate is about 4 baht per kWh, and water costs a penny. Good news: if your apartment is rented by a hotel, you don’t pay for utilities.
Realtor’s Fee After the Deal
The standard rate for working with tenants is 20% of the income. But if you buy property in an apart-hotel with a rental program, these costs will not be incurred.
Taxes on Rental Income
The maximum income tax rate for foreigners is 15%. It is possible to reduce the burden.
Calculation example for real estate in Thailand
A studio apartment with a sea view
33.9 sq.m.
Kamala, Phuket
Market price: $125 000 (furnishing in included)
Sinking fund: $850
Compound maintenance: $765
Connection of utility metres: $630
Leasehold fee: $1380 Total expenses: $3625
