Foreigners are not allowed to own land in Thailand in their own name but foreigners are allowed to own and buy condos in Thailand freehold in their own name. Buying a condominium in Thailand is a popular real estate investment for foreigners but foreign ownership is limited to a quota. Foreign ownership in a condominium or condominium development project is limited to 49% of the sale-able total floor area within that condominium. The remaining 51% of the floor area in the condominium must be owned by Thais.

An important aspect of a condominium purchase is the fact that the unit falls within the 49% foreign ownership quota within such condominium.

With sale-able floor area is referred to the floor area of the condo, and not the common areas within a condominium. The floor area of a condominium unit is stated in the condominium unit title deed, which again relates to the voting rights in the condominium juristic person and co-ownership in the common areas.

Condominium projects in Thailand are often sold during the construction and prior to completion of the building and issuance of the official government issued ‘condominium unit title deed’. The foreigners buying a condominium under construction in Thailand will find in the sale and purchase agreement that the purchase price is based on the square meters of such unit to be built or completed. The purchase price usually contains the condition that the purchase price will be adjusted based on the final floor area as will be measured by the Thailand land office surveyor when the unit is finished. Upon completion of the condominium building in Thailand the final floor area will be stated in the official ownership condominium unit title deed. This size is based on the official survey by the Land Department. It is not uncommon that the final purchase price is adjusted with up to 10% difference from the purchase price in the condominium sale and purchase agreement. It is important to be aware of this aspect.

The final floor area is measured by the Land Department and stated in the condominium unit title deed which is administrated and issued by the Land Department. In the Thailand Condominium Act the floor area of a condominium is referred to as private ownership and the wall dividing apartment units shall be joint ownership between the adjoining units.

Common ownership in the condominium is among other the land on which the condominium is situated, the frame structure of a condominium, the office of the condominium juristic person.

When buying a condominium in Thailand it is important to understand the legal procedure and restrictions for ownership in a condominium based on the saleable floor area.

For more information samuiforsale offers free Thailand property related legal information for foreigners.

New York real estate welcomes foreign buyers with a wealth of opportunities and countless chances for diversification. With the citys limited landmass and population growth as well as its global significance and innovative high-end condominium development, New York real estate is in high demand by national and international buyers. Within this competitive buying market, buyers agents can help foreign investors locate and utilize market values through analysis of the current investment market. The NYC real estate market is friendly to foreign buyers and New York condominiums are the popular choice of international investors.

Top 5 Reasons for Foreign Investment in NYC

1. High-End Development

Median prices in Manhattan are expected to rise by 10-20% during the next five years and investors can make between 20-100% profit. Offering a luxurious lifestyle, the latest high-end New York condominiums are the perfect choice for foreign buyers. Condominiums come with fewer restrictions for buying and selling and condos require smaller down payments. A 10% deposit is a standard requirement and foreign buyers are advised to open a US bank account or transfer funds to an attorney’s escrow account.

2. Mortgage-Friendly

Most US banks accommodate international investors and make it easy for foreign buyers to get a mortgage and purchase New York properties. Foreign buyers can finance between 65% and 75% of loans up to $1,000,000 and 60% of loans between $1,000,000 and $2,000,000. International buyers must provide documentation including proper Visa or foreign passport copy and credit references as well as verification of rent/mortgage payments and proof of employment.

3. Attractive Market

The undeniable appeal of New York City always attracts foreign buyers. In addition, investing in NYC property makes financial sense. For foreign buyers with strong currencies, purchasing New York property is a profitable move. Even the New York resale market is experiencing growth in recent years. Often new construction offers the benefit of tax abatements. Real estate brokers can update international buyers on the tax status of any New York building.

4. Zero Brokerage Fees

Foreign buyers do not pay brokerage fees in New York City. Generally, the seller pays the brokerage fee which is divided between the brokers for the buyer and seller. With zero fees for broker services, every foreign buyer can get maximum protection and the best advantage.

5. Buyers Agents

Buyers agents are a foreign buyers best friend because they work for the buyer. Without exception, a foreign buyer needs an experienced broker. Buyers agents have complete access to New York properties and they provide unbiased advice, feasibility reports, and a comparable market analysis. Real estate brokers can connect foreign buyers with trained professionals such as attorneys, appraisers, and accountants. Foreign buyers need the help of tax experts to advise them about US tax regulations.

An increasing number of foreign buyers are investing in New York property. Getting a piece of the Big Apple can be a reality for any foreign buyer. Invest in New York real estate today!

Condominiums are considered by many Filipinos as one of the most popular types of housings in the Philippines today. This is because of the many benefits that residents can take advantage of, such as its accessibility to popular locations in the city, amenities, and its family-oriented environment, which led to the significant increase of condo for sale in the market.

However, these benefits are separated into two different types of condominiums. These are condominiums and condominium complexes.

Condominiums These types of condominiums are mostly found in business and commercial districts. Because of its location, many modern Filipinos, particularly the HNWIs or High Net Worth Individuals, found these types of housing appropriate for their fast-paced lifestyles. This is because residents can easily access their workplaces without having to go through the usual hassles of rush hour, or hang out on popular entertainment places such as malls.

Another major advantage of these types of housing compared to other modern housings such as apartment buildings and townhouses is its amenities. Many new condominiums in the Philippines can even offer amenities such as gyms and even a full-size sports complex.

The disadvantage of these types of housings is also because of its location, in which many Filipino families found unsuitable for their familys needs. This is the reason why condominium complexes became popular in the Philippines.

Condominium Complexes Condominium complexes, on the other hand, are mostly found in the outskirts and in the provinces. Because of its location, which is known for its wide open spaces and peaceful environment, many Filipino families found these types of condo for sale appropriate for their growing familys needs.

However, what made these types of condominiums more popular in among many modern Filipino families is its amenities. Other than gyms and sports complexes, these condominiums can also offer recreational parks and playgrounds which can be enjoyed by all their residents.

However, the disadvantage of these types of housing is also because of its location, which is unsuitable for Filipinos who are working almost around the clock. Because of its location, many of its residents have had a hard time getting back to their workplaces.

Common Benefits Both of these types of condominiums can offer a common benefit, such as its maintainability and security. All types of condominiums are known to hire their own maintenance personnel who maintains all facilities found in the condominium, while its security personnel assure the safety of their residents.

Off plan condominium purchase in Thailand means buying a condo in a planning stage or a condominium not yet fully constructed. The standard payment schedule found in an off-the-plan sale and purchase agreement of a condominium in Thailand is:

1. a reservation agreement with a reservation fee of 100,000 baht (approx 3300 USD)
2. a deposit of 10 to 20% of the purchase price on the execution of the condominium sale and purchase agreement
3. periodical installments during the construction of the condominium with a final installment of 1/12th to 1/20th of the purchase price upon transfer of ownership of the condominium.

Who to pay to?

Paying in escrow for a condo in Thailand means that payments are made to an Escrow Act licensed third party financial institution or bank that will hold the deposited monies till the conditions of the condominium sale and purchase agreement have been met, depending on the contract. The use of escrow services in Thailand for property purchases is not common!!

Generally developers in Thailand DO NOT offer escrow payment arrangements. Property developers in Thailand are under the Escrow Act or new Condominium Act and Condo Act regulations NOT required to offer escrow agreements to consumers. Property developers in Thailand are free to require deposits and installments in agreements without offering any protection for the purchaser payments. There is no legal protection structure in place for realty buyers. This part simply depends on the agreed and accepted contract terms and conditions between the seller and purchaser. If the buyer pays directly into the developer’s account this is an accepted risk he as the purchaser takes.

In 99% of the property development projects in Thailand the purchaser makes the payments directly to the developers bank account. Obviously payment made directly to the developer, as opposed to payments made in escrow, carries some serious financial risks for buyers in case of default by the developer. They risk loosing all. In addition, pre-paying the development, the buyer looses all leverage in case of delay or poor workmanship. At the time of completion the buyer has paid up to 95% of the purchase price and the developer is in a much stronger position and can simply refuse transfer of ownership to the buyer.

The developers company

The standard payment schedule by which the purchase price is paid directly to the developers bank account during the construction or even before the start of a condominium project carries risks of losing your payments in case of default or bankruptcy of the developer.

An important part of this arrangement is the developers company. Is it a large SET listed (Thailand stock exchange) real estate developer or a limited liability company with a low share capital and a poor track record? Limited liability for the developer means limited liability and in case of default there is for the buyers little chance of getting any of the payments back.

The Condominium Act supposed to protect the interests of the buyers of condos in Thailand but does not require the establishment of escrow arrangements in an off-plan condominium development.

Paying directly to the developer in Thailand is taking a risk.

What are the advantages and disadvantages of using living in a condominium unit in the Philippines? Condominiums, or condos, have become very popular types of housing in the Philippines today. According to many Filipinos, part of the reason why it became popular and highly in-demand is because of today’s modern and fast-paced lifestyles.

Advantages of living in a condo unit in today’s modern trends Because of today’s modern and fast-paced lifestyles, many Filipinos today are looking for a kind of house which they can easily access from the work. Because most Filipinos today are working around the clock, the kind of home they are looking for may involve most necessities, such as a relaxing and quiet space where they can retreat to once their work is done.

Accessibility to workplaces At that time, condominiums, along with a few apartment buildings, were found in locations such as in business and commercial districts, such as the many towering condo manila. And because of this, condominiums became a very popular type of housing for Filipinos living in a fast-paced lifestyle, which in-turn led to a massive demand for these types of housing.

Eventually, the number of condominiums has significantly increased within and outside business and commercial districts, allowing more Filipinos to benefit from its advantages. But other than its accessibility to workplaces, condominiums are also known for its ease of access with entertainment areas such as malls.

However, other than its location, condominiums are also known for its other benefits, such as its maintainability as well as its security.

Maintainability and security All types of condominiums are known for their maintenance personnel who are tasked to maintain all facilities found in the condominium, from its hallways to elevators, to cooling systems and its garages. This makes it easier for its residents to focus more on their own units rather than the whole condominium.

In addition to its maintainability, condominiums are also known for their security personnel who assure the safety of their residents, particularly because most if its residents are of high-statures such as company and corporation executives.

Disadvantages of living in a condo unit in today’s modern trends There are, however, several disadvantages to living in a condominium, particularly in most condo manila. One of those is its lack of environment for growing a family. Because most condominiums are found in the city, many Filipino families found these unsuitable for their growing family.

Another major disadvantage of condominiums is its expensiveness and condo fees. Because most of these condominiums are found in areas near or within business and commercial districts, as well as with its growing demands, condominiums became one of the most expensive types of housing in the Philippines.

In addition to that, condominiums are also known for its condo fees, which are mostly used for the maintenance of the condominium as well as wages for its security and maintenance personnel.