Krabi makes for an excellent investment holding. Despite the political turmoil in Thailand there has still been a huge investment in Thailand. Property prices at the top end have come down in Krabi and now might be the time. Property and commercial investors see Thailand as a good location for investment as the property taxes, investment incentives and the location of Thailand in Asia makes it an ideal spot for any corporate regional office.
Krabi property has also seen a huge investment with new property developments in the area. With the global property market on the up, Krabi still has a huge amount of investment potential as prices in the upper sector has come down. Right now Krabi is an investors paradise as the bottom and mid range villa and condo units are still selling well however the top end projects are lowering their prices to make sales.
Buying any form of real-estate in Thailand can have more than the average problems. Firstly you don’t speak the language, read the Thai script for for that matter know the laws or the land measurement system. Why risk your investment by not using us at Siam Legal. With offices in all the major tourist cities of Thailand, we are best able to serve your needs, be it in Krabi or Issan. We are always able to help. Speak to us today by visiting our main website.
Real Estate taxes in Thailand are calculated under 6 basic rules when it comes to the sale and transfer of any property. We will give you the basics of what to possible expect when buying in Krabi or anywhere in Thailand. The first tax for any real estate transfer in Thailand is the income tax or withholding tax.
This is based on a number of factors based on a formula which the Land Department of Thailand has calculated as being fair. Safe to say that normally the shorter the period for which you held the property the more taxes you pay as it is to discourage property flipping or any real estate speculation. The taxes is based on this value and it is usually between 1 -3 % of the value.Normally the seller would pay this tax.
If you are looking at buying property in Thailand you would need to know what land measurements are in Thailand as they are not anything like the West. Do you know the size of a Rai of land? Buying any real estate in Thailand or Krabi always involves measurements. Say you want to buy a condo or a villa in Krabi and the measurements of the property is 1 Talang Wah. Well that is 4 square meters.
If you want to convert Rai to square meters or convert Rai to Acre then use any of these conversions.
If you are looking at buying real estate in Krabi then speak to our lawyers first with regards to the classification of land and the use of title deeds in Thailand. Not all land in Krabi can be sold. Buying land in Thailand that is totally freehold land requires what is called a Chanote or Nor Sor 4.
This is the only type of title deed that most people want. There is also a Nor Sor 3 Gor title deed however this title deed shows that it is still awaiting a full title deed. The Chanote has to be measured and the boundaries set by the Thai Land Department before it can be sold or transferred. The Nor Sor 3 Gor title deed can be sold and transferred while it awaits to be classified as a Chanote.