Over recent times, Phuket has become a real hotbed for crypto investors due to the appearance of more and more unique projects that use digital currency. These new developments boast spectacular properties with special features to fit in with one's modern lifestyle. A quick look at some of the most promising projects welcoming cryptocurrency payments follows.
In Thailand, the real estate market has been revived anew. New policies in Thailand accommodate more and more investment. Recent regulations include the extension of leasehold to 99 years. The foreign ownership limit has also been increased in condos from 49% to 75%. But it is a piece of the puzzle for the market. How will it differ for both buyers and sellers? Some foreign investors have shown interest in Thailand. They are looking for answers as to how these changes can benefit them.
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.
There is a special term Foreign Quota that basically means that foreigners can have up to 49% in each condominium building, not more.
Why shouldn't you be afraid of leasehold? What do you need to know before registering a leasehold property?