Thailand PLS Real Estate

This 1 bedroom, 1 bathroom Sathorn condominium unit with 46.5 square meters of living space is fully furnished and ready to move in. The unit is situated in Address Sathorn a modern residential highrise building with 40 floors. The condominium was completed in 2010 and the building amenities include in addition to full-time on-site security.

The condominium is located on Sathorn Road in the Sathorn community of central Bangkok. The Address Sathorn building is conveniently located just 400 meters to the Chong Nonsi BTS Skytrain station which amounts to about a 5 minute walk. The asking sale price for this Bangkok property is ฿6,300,000 THB (Thailand Baht) which equals ฿ 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.

Sathorn real estate includes the area along Sathorn Road which goes all the way from Lumpini Park to the Chao Phaya River and much of what is south towards Rama 3 Road and another part of the river. The general area along Sathorn which is sometimes spelled Sathon Road is widely considered to be Bangkok’s primary Central Business District (CBD) as it is full with corporate highrises along with hotels and some high-end condominiums and apartments.

What expats lazily refer to as Sathorn may differ from the actual district. In addition to Sathorn Road, the real estate around several other main roads such as Rama IV, Rama III, Nanglinchee along with Narathiwas and Yen Akart which are considered neighborhoods within Sathorn.

Sathorn is a vast area which includes a wide variety of condos and apartments. Generally the closer to Sathorn Road the condos/apartments are, the more expensive they will be. While Sathorn Road real estate tends to cater towards the elite business people, the inner areas of Sathorn has more family orientated properties which includes a mix of high-end, Western quality highrise and lowrise residences along with some budget accommodations. Although there are no BTS/MRT metro stations in Sathorn, some Sathorn real estate is convenient to one of several stations which include Silom, Lumphini and Khlong Toei MRT, Sala Daeng, Chong Nonsi and Surasak BTS.

• Shrewsbury International School (Charoen Krung Rd.)
• International Pioneers School (Charoen Nakorn Rd.)
• St. Andrews International School (Sathorn soi 4)
• Garden International School (Yen Akart Soi 2)
• Acacia (Yen Akart Soi 2)
• Learning Home International Kindergarten (Narathiwas Rd.)
• New Sathorn International School (Narathiwas Rd.)
• International Community School ICS Prong Jai (Sri Bhumpen Rd.)

• Lumpini Park (Wittayu Rd.)
• Asiatique The Riverfront (Charoen Krung Rd.)
• Bang Rak Hospital (Sathorn Rd.)
• St. Louis Hospital (Sathorn Rd.)
• BNH Hospital (Convent Rd.)
• Embassy of Australia (Sathorn Rd.)

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 ฿6,300,000 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, holding the property and allowing you the time to prepare the consequent funds transfers.

Financing

Make sure you have your finances in order before viewing condos for sale. It is often difficult for foreigners to get financing for purchasing Thai properties. 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 money located in Thailand.