Lease Agreements in Thailand
Property leases are common in Pattaya. Thailand’s strict regulations when in foreign ownership of land and related properties prompted many foreign nationals to consider the benefits of renting immovable assets in the region.
On a closer look, leasing’s popularity in Pattaya can be attributed to several factors. First of all, leasing tends to be more cost effective or practical compared to purchasing properties.
Why Invest In Pattaya Properties?
There is no doubt that tourism is one of Thailand’s key economic drivers. However, this sector did not only bring hundreds of travellers and backpackers.
But most importantly, it brought forth technological diffusion, market niches, employment opportunities and industry developments.
Buying a Condo in Pattaya
Despite of the sudden economic downturn, Pattaya’s property market remained strong and competitive. This explains the continuous downpour of foreign investors in the country.
From time to time, many entrepreneurs and companies realize the potential of Pattaya’s real estate industry and thus create new ways to capitalize on its perceived benefits and advantages.
Conducting Due Diligence In Pattaya
Pattaya’s property market is one of the most attractive and marketable in Thailand. Amidst the financial crisis and the tsunami incident, it remained strong and even opened new avenues for growth and development.
Pattaya’s resiliency to fluctuating economic conditions and its ability to recognize new market frontiers thus explain its appeal to the international developers, investors and consumers.
Buying a Condo in Pattaya
Foreigners are not allowed to own land in Thailand but many have been able to purchase such by setting up a Thai limited company. These are the basics about placing your property in the name of a company.
This type of business structure can be established with a minimum of 7 different shareholders and one director who can be a foreign shareholder.
Pattaya Rental Agreements
Foreigners are allowed to have freehold ownership of condominiums and condominium units. However, they are not allowed to purchase land although they can own buildings and structures.
One common method employed to purchase land is by first setting up a Thai limited company and then buying a piece of real estate in its name.
