buy, sale or investment for property in phuket and samui with commercial real estate services » Condominium http://phuketpropertyplus.com Property in Phuket and Real Estate Experts Sat, 19 Dec 2009 16:00:14 +0000 http://wordpress.org/?v=2.7 en hourly 1 Can I Own a Condominium in Phuket? http://phuketpropertyplus.com/2009/06/can-i-own-a-condominium-in-phuket/ http://phuketpropertyplus.com/2009/06/can-i-own-a-condominium-in-phuket/#comments Sat, 06 Jun 2009 10:09:41 +0000 kris http://phuketpropertyplus.com/?p=21 Buying a condominium, is perhaps the simplest and easiest option available to foreigners. The only restrictions on purchasing a condominium, are that the percentage of units sold to foreigners cannot exceed forty nine percent (49% - although this has varied at times) of the total number of units in the condominium block; and that the funds used to buy the condominium have been remitted from abroad and correctly recorded as such by a Thai Bank on a Tor Tor Sam. Purchases of condominiums by foreign individuals come under the jurisdiction of the CONDOMINIUM ACT (No. 3) B.E. 2542 (1999).

The owner of each condominium is issued with a certificate of unit ownership. The certificate also has a statement saying exactly what percentage of rights over the common areas of the building each owner has.

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