Bangkok is a vibrant city that never sleeps, it is a transport hub that attracts all kinds of visitors each year. The condos in the city have excellent amenities, which is one of the main reasons why so many locals and expatriates choose these types of living quarters. However, purchasing a condo is a big investment and there are many factors to consider.
Understanding the Law
If you are an expat living in Thailand, you cannot legally own land as you are not a Thai national. If you are interested in buying property, you have 2 options.
- You can purchase an extended lease (usually 30 years)
- You can buy property through a limited company
When it comes to condos such as The Loft Silom (called เดอะ ลอฟท์ สีลม in Thai), you can own the property as long as the building is owned by a majority of locals. This means Thai owners must own over 50% of the condos in the apartment building.
There are plenty of outstanding condos and apartments in Bangkok, you will not be searching for too long to find the right place. If you are not familiar with the city, you should get to know certain areas before buying. The most popular parts of Bangkok include areas such as Silom, Sukhumvit and Sathorn. You should do a lot of research on locations and find a place that suits your needs.
Keep Your Options Open
You should always have a backup place when looking for a condo, if you limit yourself to a certain type of criteria, you could spend a long time searching. Try taking some time to shortlist a few areas and make a list of things you can and cannot do without.
You will probably be spending a lot of time at your condo, so make sure it has good quality facilities. If you like to exercise, see what kind of gym area is on offer. Bangkok is a warm city and it rarely gets cool throughout the year, so finding a condo with a nice pool is a must for most people.
There are many things to consider when choosing a condo in Bangkok. The most important thing to do is to create a list of your wants and needs and do a lot of research on the city. If you do not fancy looking around by yourself, there are lots of experienced estate agents in the city who can help. They cater for both foreign and Thai customers.