When buying a condo in Phuket, you face a choice: Freehold or Leasehold type of ownership? Let's take a look at what each of them means.
In each project, no more than 49% is owned by foreigners. These percentages are referred to as the Foreign Freehold Quota.
The remaining 51% is owned by Thai citizens. Do Thai citizens want to buy real estate in such quantities? It is a big question.
It is unprofitable for developers to miss the chance to sell 51% of their real estate. The law prohibits selling it to foreigners in full possession, but it can be rented out. Leasehold is the right of long-term rent.