Since Jay has been working in real estate business for 8 years, from the experience it founds that the mid - north west of Phuket (Kamala, Surin, Bang Tao, Nai Thorn and Mai khao) have been popular for vacation home and good for investment. In addition, the location is convenient because there are international schools, international hospitals, big shopping malls, Central festival and Jungceylon at Patong with less than an hours drive and there are many 3 - 5 star hotels in these area. Moreover going to airport would take around 30 - 45 minutes only. Therefore My Phuket Home focus and specialize in Properties in these area by selecting the quality, trusted developers, good property management and after sales services to offer to our clients.
Frequently Asked Questions
- Villa / house with landed property
The landed properties are available on a 90 or 120 leasehold basis depend on each developers (consecutive terms of 30 year leases) for the land for foreigners and freehold ownership of the building. According to Thai Law, foreigners may have an ownership of buildings developed upon the land leased by them, but not the land itself. Land may be available for freehold ownership for Thai buyers.
Under the Condominium Act. Condominiums can be acquired on both a leasehold and freehold basis. However, the number of freeholds held by foreigners in a condominium is limited to 49% of the total area of the units, excluding the area of the registered common property.
Apartment development are offering leasehold a 90 or 120 year lease (consecutive terms of 30 year leases). Leasehold apartment normally is the resort property with branded management.
What are the costs associated with the lease / freehold registration that normally responsible for the buyer?
- Leasehold land title
- Freehold building title
Lease registration fees and stamp duty (currently 1.1% of the land rental or lease premium) is payable to the Land Department upon registration of the lease.
Freehold registration fee (2% of the appraisal price of building) is payable to the Land Department upon transfer and registration of title of the building. The appraisal price is calculated relative to the government's tax assessment value which is generally well below market value. Other applicable taxes upon transfer and registration of freehold building title are:
Note: Applicable registration fees and tax rates are current but may be subject to change by the relevant Thai authorities.
Is leasehold land transferable?
Leasehold land may be transferred subject to the terms and conditions of the agreements of each developer. Generally, an assignment fee is payable. In addition, the assignee must agree to be bound by the terms and conditions contained in the original lease agreement.
Is leasehold land ownership secure?
Leasehold land ownership is the preferred method of ownership for foreign buyers. Once the lease is registered at the Land Department, the right of use to the land will be vested with the lessee.
- Resort properties always offer rental programs with revenues share between owner and the resort, usually resort property will provide property management services which manage by resort. In addition, owner can stay in their property for couple months during the year. For clients who would like to combine their investment and vacation home, they will choose the resort property with well established brand.
- Residential properties also popular for short and long term rental, the owner may appointment management company to provide basic services such as swimming pool cleaning, gardening, pest control and house keeping. For rental owner can appoint My Phuket Home Company to market to potential clients.
Infrastructure and common areas
My Phuket Home Company has reviewed and selected the properties where offer the good infrastructure and common areas includes good security, roads, electricity, water, landscape, assessable communication TV and internet, garbage collection.
New properties may have deferred payment plan and financing option available for the buyer while resales properties usually buyer need to put down deposit then pay full final payment within 1 - 2 months. Information is available on request.
My Phuket Home Company will be pleased to provide good consultant and advise for further information on your interested property. Feel free to contact us.