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Home » Reader question » Reader question: Buying and renting apartments in Thailand, what should I pay attention to?
Reader question: Buying and renting apartments in Thailand, what should I pay attention to?
Dear readers,
I have a question: I am planning to move to Thailand to live with my Thai girlfriend. We have known each other for over 10 years, so I dare to take the step.
Now my plan is to buy two apartments, one of which we want to rent out and possibly also rent out our own apartment in the high season. In that time we can stay at my friend's house in Isaan.
The apartments will be in my name and now I would like to know whether we can do this in the rental or whether there are certain requirements? For example, a work permit, because I will earn money (hopefully) with the rental anyway. And possibly taxes or permits? Or do I have to indicate that my girlfriend is responsible for the rental?
I hope that people with experience with this can give serious answers to my questions.
Yours faithfully,
Mark
I myself own 2 apartments in Bangkok. I rent one of them and live in the other permanently. The big advantage compared to Belgium and perhaps also the Netherlands is that I do not have to pay an annual cadastral income (tax on real estate), nor any tax on my rented apartment. If desired, please provide more information.
Dirk
Dear Marc,
That's a good idea to buy two condo's and then rent out 1 for some extra income!!!!
I advise you to look around before you come to something, and if you come to something, then you should buy from the best developers (Brokers / project developers).
I myself bought 28 condos in a new construction project "Water Park", if you are interested I can send you some information.
These condos are in Dec. 2014 ready, but before then I will have sold a few more, the sales price is below the market price !!! so very interesting…
I also bought a few studios for rent in Lumpini Ville (Naklua-Wongamat), these cost 11.000 baht per month, these studios are fully furnished.
If you have any questions, you can email me:
[email protected]
Yours faithfully,
John.
Hi John, as soon as I know when I will be moving to Thailand I will definitely contact you.
I have to sell my house in the Netherlands first.
It is true that there is no real estate tax here and no income tax is due on the rent.
I recommend that you first take a good look around in the area where you want to buy the apartments. So don't just let it depend on your own choice, but whether it is an attractive environment for tourists and/or winter visitors to rent. Also pay attention to public transport and larger supermarkets available in the immediate vicinity.
There is a large number of apartments on the market! The contemporary built studios are usually not much larger than 26 M2, which is divided into a living area with cooking facilities and a sleeping area with shower and toilet. Living and sleeping areas are often separated by a transparent wall.
In my humble opinion, a studio is definitely too small for a couple to stay in for longer.
I bought a 1988 M41 studio and a 2 M2 93 bedroom flat in 2 in one of the first condos on Jomtien Beach Road. At that time it was still a narrow road and parking was on the beach at the top of the road. That was also far from Pattaya then! But look how it turned out in the end and Jomtien and Pattaya South are connected.
Don't be tempted by prices below the so-called market price… Everyone wants to earn something, of course.
I wish you and your girlfriend wisdom and success!
Jan Hendriks, thank you for your response, the place we envision in Hua Hin. And then as close as possible to the center. I also think a studio of 26 m2 is too small. Two 2 bedroom apartments is more our goal.