Buying a condo in Chang Mai?

Hi Simon,

Welcome to Expat-blog!

I hope that other members will be able to advise you.

I wish you good luck
Christine

pacman741 wrote:

Hi all. I've heard from friends in Chang Mai that buying a condo is a realistic, and in most cases, viable way of getting established there. With partner, so 2 bedroomed ideal. However, whats the story on the ground, the good as well as the bad. Timeline to move within next 6/8 months.

Cheers all

Simon

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if thai's ever want to oust the foreigners, they merely declare the ownership of the complex to be 51% non-thai and the entire complex is lost to you.

also, maintenance and what not is very iffy and not controllable by expats, since 51% ownership in complex is thai, and other issues,  like bar sitting foreigner class.

What Cecco means is that The total percentage of the foreigner can own 49% of the whole condominium space, but for the block or a room that you buy, you can own it 100%.

Buying or renting a condominium comes with certain rights and privileges.  When you own or rent a condo you are entitled to the use of the common areas of the condominium block. Common areas can be defined as areas of the condominium block used by everyone such as the reception, hallways and elevators. Beware of development companies who appoint their own managers as this might create problems later as everything might not be transparent. Also be aware of the Condominium Act in Thailand which sets down certain rules and regulations for condominiums. Buying a condominium makes you a co-owner of the apartment block. Ensure that you have invested in a properly managed condominium block.

Hope this helps..

Boong

I believe there are ways to circumvent the ownership concepts Boong and I outlined.

1.  The major stockholder CAN be an AMERICAN owned holding company under the Amity Agreement. This is limited to Americans only.  The Amity Agreement requires either Thailand or the USA to give a 1 year advance notification of withdrawal.

2.  Currently, it is looking more and more possible that Thailand will withdraw from the Amity Agreement, because in the past the USA has given massive amounts of $ to Thailand, which will not be happening the future, either in NGO support or in miltary support.

3.  (America paid for friendship and special privileges). Now, America did a lot for Thailand, Thai history, Thai military, Thai monarchy, etc. in the past. But that America is gone, and Thailand is not known for having a long term memory.  So these times are changing, and will soon disappear from recollection.

4.  if the land upon which the Condo sits was bought by your wife, in her name, with her own indisputable wealth, you can                                                           be willed the land in the event of her death preceding yours, and you can hold the land in your name, but the LTO won't cooperate with Thai Law.

5.   If the property sits on land granted to foreign ownership by the monarchy, which is above the law, you can transact business with that land, without dispute from anybody.

6.  If any of the owners of condo's liquidate, abandon, change ownership in anyway to a non-Thai, and the ownership of the Condo goes foreign, u can not legally own your condo, if it goes "thai" the maintenance will go down over time, and the smell of chili and durian will fill the building.  this will happen .. unless things are very closely and expensively managed with integrity