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Property Investment in Krabi Thailand

Jul 8

If you are looking to invest in real estate in Krabi Thailand, might be an excellent choice for you. Not only is the cost of living in this area low, but there are many other reasons to consider investing real estate in Krabi. Before buying real estate in Krabi, it is best to consult with a real estate lawyer about transfer costs and other fees. You should also seek professional advice on how to finance the purchase of a real estate in Krabi.

 

Thai Property Title Deeds

There are three types of Thai property title deeds for those interested in investing in real estate. The first type is known as the chanotte, and it gives you full rights to occupy or transfer the land. The second type is called the Chanote, and it's useful for foreigners who want to build a home on the property. But what exactly are these different types of Thai property title deeds?

Thai property title deeds are not difficult to obtain. The most common form is the Chanote, which is a Nor Sor 4 document. This document outlines the exact location and size of the property, and it allows the development of the land. Another type is the Nor Sor 3 Gor, which is not a full title deed because the boundaries have not yet been approved. Nevertheless, the Nor Sor 3 Gor title deed can be upgraded into a full title deed.

 

Property Transfer Taxes in Thailand

If you are planning to buy a home in Krabi, Thailand, you must be aware of the Property Transfer Taxes in Krabi. Unless you are a foreign investor, you can apply for a tax credit if you are a member of a collective bargaining agreement. The total amount of property transfer tax depends on the type of property and its location. In general, the transfer taxes will be about 2% of the property's municipal or appraised value. The amount of transfer taxes is negotiated between the buyer and seller.

The transfer price of the property is subject to Property Transfer Taxes in Krabi, which are progressive and withheld at the source. For example, when selling a property in Krabi, the seller must pay 3.3% of the sale price, which is normally 8% of the property's market value. However, the transfer cost is shared by both the buyer and the seller. In addition to property transfer taxes, rental income is taxed according to the personal tax rate scale, which ranges from zero to 35% of the revenues declared.

 

Buying a Condo in Krabi

Purchasing a condominium in Krabi is a great way to live in the Andaman Sea area while still having the luxury of a private beachfront condo. Condos are much cheaper than houses, so foreign investors are increasingly targeting this area to develop condominiums. The region has 22 port facilities that facilitate tourism and merchandise shipping. The real estate market in Krabi includes condominiums, townhouses, and detached houses.

Despite the attractive price of a condo in Krabi, you should be aware of several drawbacks. The most notable of these is that Thai condos don't follow European standards. For example, building codes are nonexistent and craftsmanship is substandard, so many buildings start falling apart after just a few years. In addition, Thailand's real estate market is deflationary, so your condo will appreciate much slower than inflation. That means you'll make very little money in the long run. In addition, the second-hand condo market is weak, making it difficult for you to unload your condo in Thailand.