Is it possible to be a 100% owner?
YES, Thai law allows foreigners to own the construction but also land in the case of real estate complexes. Condominium ACT is available for any foreigners
What is the expected return ROI?
The return varies according to several criteria. Location, view, orientation,seavieaw, size of plot,the number of bedrooms,… The return varies from 7% to 20%
What budget should you count for an apartment or villa?
Depending on the type of property and its location, the budget for a 1-bedroom apartment starts from 49.000€, 2 bedrooms from 100.000€, villa from 269.000€ to 3.000.000€
Freehold or Leasehold?
The leasehold is widely in demand for its ease of access by foreigners. The lease of the plot spans 3 x 30 years. Also, the reduced registration fee allows you to making the purchase more interesting the Freehold, if offered by the builder, allows you to own 100% of the property and the field.
What are the registration fees ?
Leasehold = 1.1% every 30 years (max 90 years)
Freehold = 6.7%
What does the property management company take care of?
Often entrusted to the builder, the property manager will take care of the rental, the advertising on AirBNB, Booking,…, reservations, payments, check-ins cleaning, servicing and maintenance of equipment. Reporting is also available to analyze rental yields
Is it possible to open a Thai account with a tourist visa?
Some banks such as Kasikorn Bank or Bangkok Bank allow more easily access to a bank account with debit and credit card. An act of purchase allows you to go to any bank in the country to open accounts.
What seasons?
There are 3 seasons: the low season from April 15 to October 15, the high season from the 15th October to 15 April, including 1 month of very high season between 15 December and 15 January.
What occupancy rate should we expect?
The occupancy rate fluctuates by season. On average, it takes 88% over a year complete.
How does the payment work?
If a property is purchased off-plan, a payment schedule is submitted to you. A deposit is requested to block your property and then payment instalments if a property is already built, a full payment is required from a bank account
How to protect yourself from scams?
Our experience of more than 15 years in Phuket allows us to select the builders reliable and reputable. We accompany you from A to Z throughout the entire process of research and purchase. Our Thai but perfectly bilingual lawyer can also supporting you in your procedures and translations
Do I have to enter my rental income on my tax return in Belgium?
The double taxation agreement between Belgium and Thailand makes it possible to do so
tax in Thailand rather than in Belgium If your purchase is in Leasehold, it is not necessary to enter your rental income in Belgium.
If your purchase is in Freehold, it is advisable to enter the cadastral income on your country
Which areas are best in Phuket?
There are 3 main areas: The north of the island (airport area) is a still virgin and in full development. Very quiet and mainly served by large hotel chains. The center of the island is an intense tourist area with an influx of tourists passing through but very profitable. The south of the island is the preferred area for the
expats because of its tranquility, the beauty of the beaches and the reduced cost of living.
What are the facilities?
Phuket is full of facilities of all kinds. The majority of stores are open late and 24 hours a day. Everything is available quickly also online.
What transport is available?
The international airport connects the entire island with a maximum of 60 minutes. Public transport is very developed, but also tuk tuks will take you anywhere on the island at a lower cost.
A metro line is planned in the next few years that will connect the north to the south of the island
Also the rental of scooters (from 5€/day) or cars (17€/day) allow to visit the whole island in peace. If you decide to visit the islands, boats are available at a lower cost.
What to do in Phuket?
Phuket is full of activities of all kinds: temple visits, Big Buddha, island tour, sports boating, Forest activities, elephant Sanctuary, Zoo & Aquarium, Night Activities on Bangla Road,… The listThe list is too long to list, but there are certainly activities you can enjoy suit.
The international airport provides access to all the country’s main cities by less than 1 hour at very reasonable prices.
Where invest in Thailand ?
We have differents areas : Phuket 88% average occupancy remain the best destination for investors. Meanwhile other cities are growing fast : Pattaya/Jomtien, Hua Hin
What are the healthcare & hospitals?
In Thailand, you benefit from a top-notch medical infrastructure. Hospitals international clinics and clinics are full of quality specialists. Medical Advances are quite impressive and certainly ahead of Europe.
We advise you to take out travel and hospitalisation insurance in order to benefit from the best conditions for your stay.
Do I need a visa?
NO, foreigners are granted a 30-day visa waiver (30-day extension) + 30days extra
on a visit to the immigration office). In case of a longer stay, We advise you to apply for a long-term visa at the Thai embassy in Belgium
What type of food?
Ranked number 1 in the most appetizing countries in the world, the food is of high quality,
very diversified and cheap. You will also find all the Italian, French, Belgian, Indian, Chinese restaurants,…
How much does a hotel room cost per night?
It all depends on the location but you have to count between 50 and 70€ for an apartment 1
100€ for a 2-bedroom apartment and 200€ to 500€ for a villa. These amounts are averages observed in the island’s tourist areas.
Do I have to count a reserve fund when making a purchase?
A reserve fund for a villa is on average €4.50/m2 to be paid once at the end of the purchase
What are the common costs of a condominium?
Common expenses such as maintenance of the surroundings, security of guards and cameras,
The maintenance of the communal swimming pool, reception, communal parking are assessed at €1 and €1.50/m2/month.
What added value is expected ?
The capital gain of your property increases by 5.5% per year (average of the last 10 years covid included)
In case of resale?
You can opt for the resale of your property at any time. In the event of the owner’s death?
We recommend writing a will. If this is not the case, the heirs must be mentioned on the deed of purchase.
How much is the registration fee?
Freehold = 6.7%
Leasehold = 1.1% every 30 years (maximum 90 years)
What are the rental taxes?
Rental income, if reported in Thailand, is 15%. Foreigners are not required to declare rental income.
Do I have to enter my rental income on my tax return in Belgium?
Freehold, it is necessary to enter the estimated cadastral income
Leasehold, it is not necessary to enter this income since it comes from rental
Price per m2 in Phuket
Depending on the location, prices per m2 vary between 1600€ and 2500€
Moving to Thailand?
It is quite possible for you to settle in Thailand. Administrative formalities and visa are facilitated to welcome foreigners. You can also transfer your principal residence.
