Thailand PLS Real Estate

This 4 bedroom, 5 bathroom Petchaburi Road condominium unit with 175 square meters of living space is up for sale. This property is situated in Villa Asoke which is a 42 floor residential highrise condominium/apartment building with 525 units in all. The building amenities include swimming pool, fitness center, sauna, garden, childrens playground in addition to full-time on-site security.

Villa Asoke is a modern residential building which was newly completed in 2013. The condominium is located on Petchaburi Road in the Petchaburi Road community of central Bangkok. For public transit, this Bangkok condo is located convenient to the Petchaburi MRT station. The subway is only 167 meters away so you can walk there in about 2 minutes.

The asking sale price for this Bangkok property is ฿20,500,000 THB (Thailand Baht) which equals ฿117,143 per square meter. As a buyer you will be responsible for a portion of the transfer fee, which may or may not be included in the asking price, please ask your Bangkok real estate agent before you view.

Petchaburi Road which stretches all the way from Phaya Thai to Thonglor had long been considered simply an alternate driving route for avoiding the heavy traffic jams of Sukhumvit Road. With the emergence of the MRT subway in 2004 and the Airport Rail Link lines in 2010, Thailand?s top real estate developers decided to take advantage of the lower land prices and are attempting to make Petchaburi Road a convenient, desirable place to live in Central Bangkok.

The Petchaburi MRT and Makkasan Airport Rail Link station allow you to travel quickly to every corner of Bangkok. The Sukhumvit MRT is only one stop away which allows you to transfer to BTS and the Makkasan airport link express train station which is across the way from the MRT can whisk you to Suvarnabhumi (BKK) International Airport in 15 minutes.

While the real estate along Petchaburi Road may never be residential like that of mid Sukhumvit, Petchaburi Road offers an alternative area which has high quality, modern condominiums by the same top developers as prime central Bangkok at more affordable prices..

• ST. Stephen’s International School
• Sinakharinwirot University, Prasanmit Campus
• Health Land Thai Massage School
• Watdishongsarama School
• Saint Dominic School
• Maha Nakhon University
• St. Stephen’s International School

• Makkasan Airport Link (Asoke-Din Daeng Rd.)
• Pantip Plaza IT Mall (Pratunam)
• Platinum Fashion Mall (Pratunam)
• RCA Driving Range
• Central World Shopping Mall (Rajprasong)
• Petcharavej Hospital
• Asoke Skin Hospital (Din Daeng Rd.)
• Rutnin Eye Hospital (Asok Rd.)
• Bangkok Hospital (Soi Soonvijai 7)

Buying a condominium in Thailand as a foreigner is a relatively simple process as it not subject to the many rules and regulations of land ownership. Most condominiums in Bangkok have foreign quota available. Foreign quota means the title deed (chanote) can be in a foreigners name. If a condominium building’s Thai ownership is less than 51%, the remaining units will be Thai quota. Thai quota means they can only be purchased by a Thai national. If you are a foreign national married to a Thai, you can purchase a Thai quota property but it must be in the Thai name.

There are fees associated with condo purchase that vary slightly but are pretty straight forward. In addition to the sale price which in this case is ฿20,500,000 the buyer is responsible for part (usually 50%) of the 2% transfer fee. The transfer fee is not based on the actual sale price, but the appraisal price from the land department. The seller is responsible for business tax, stamp duty and withholding tax. Along with the sale price, taxes and fees are somewhat negotiable. If you find a property you like, the purchase process usually begins by making a booking deposit along with preparing the sales contract, this holds the property and allowing you the time to prepare and execute the consequent funds transfers before the closing date determined in your contract.

Financing Your Bangkok Real Estate Purchase

Make sure you have your finances in order before viewing condos for sale. It is often difficult for foreigners to get financing for purchasing property in Thailand. If buying a property under your name with cash you must transfer the money into Thailand from a foreign bank. If you have a longstanding Thai corporation you can also purchase property using funds located in a Thailand bank account. If you are a first time Thailand real estate buyer it is best practice to hire an attorney who is well versed in Thai real estate laww.