Buying a House in Koh Samui
Everything You Need to Know Before Getting Started
Understanding Regulations for Foreigners
In Thailand, foreigners cannot directly own land. However, there are several legal solutions to acquire a house:
- Long-term Lease (Leasehold): you can lease land for a 30-year period while owning the house built on it.
- Purchasing through a Thai Company: by creating a local company (where you hold 49% of the shares, with the remaining 51% belonging to Thai partners), your company can buy the property.
- Freehold Purchase through a Condominium: if you prefer an apartment, foreigners can fully own up to 49% of the habitable space in a condominium building.
Key Steps to Buying a House in Koh Samui
Define Your Budget and Needs
Before starting your search, it’s important to determine:
- Your total budget, including additional costs (notary fees, taxes, maintenance).
- The type of house you are looking for: villa with a pool, beachfront home, bungalow in a natural setting, etc.
- The ideal location based on your preferences (close to amenities, lively areas, or quieter zones).
Search and Visit Properties with a Trusted Agency
Once you have defined your criteria, working with an experienced local real estate agency is essential to guide you through your project.
MISS My Immo Services Samui is a well-known agency on the island, helping buyers with their investment. Their deep knowledge of the local market, personalized support, and large portfolio of properties will help you find the perfect house safely.
Sign a Reservation Contract and Make a Deposit
If you find your ideal house, you will need to make a deposit to reserve it. A reservation contract specifies the purchase conditions and ensures that the property will not be sold to another buyer.
Conduct Legal Checks and Sign the Sales Agreement
Hire a specialized lawyer to draft the sales agreement and ensure that all legal obligations are met before transferring ownership.
Verify Property Titles
Before signing, it is essential to check that the property title is legally valid. The different property titles in Thailand include:
- Chanote: The most secure property title, with land boundaries defined by GPS.
- Nor Sor 3 Gor: A title being upgraded to Chanote, allowing construction and sale.
- Nor Sor 3: An older title, often awaiting regularization.
To ensure a safe purchase, we recommend having all documents verified by a lawyer of your choice and conducting due diligence.
Costs to Anticipate When Buying
Buying a house in Koh Samui involves additional costs that should be planned for:
- Transfer fees.
- Stamp duty.
- Capital gains tax: Based on the holding period and property value.
- Legal and notary fees: Vary depending on the services required.
- Maintenance and co-ownership fees: If buying in a managed residence.
Real Estate Market Trends in Koh Samui
The Koh Samui real estate market remains attractive to foreign investors, with:
- Consistent demand for villas with sea views.
- Infrastructure developments improving accessibility.
- Growing interest in short-term rentals through Airbnb, offering attractive rental yields.
Buying a house in Koh Samui is an excellent project if you take the time to gather the right information and follow best practices. By working with qualified professionals, you can complete your purchase safely and fully enjoy your new tropical lifestyle.
Need Personalized Assistance for Your Real Estate Project in Koh Samui? Contact us for expert local guidance and tailored support!
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