Property ownership for foreigners
Legal fees and total cost of buying the property.
Thai will.
Apartment management/rental, cost and scope of service
Healthcare, what is available locally and at what cost?
Visa, tourist, retirement, business
Driving, left hand side of the road, international driving license, car rental
Tsunami, distance from coast and warning towers
Rental income and taxation
Personalise apartment
Financing available for purchase
Property resale
Phuket Property market prospects
Apartment complex upkeep and maintenance
Flying into Phuket


Property ownership for foreigners
- The normal method of owning property in Thailand is leasehold, usually of 30 year terms, extended twice to give a 90 year lease. However the condominium cat provides for foreigners to own up to 49% of the development as Freehold. Lakeside has applied for Condominium status and will offer freehold title to the first 49% of buyers who request freehold. The cost of the freehold title is Baht500,000 above the leasehold price.


Legal fees and total cost of buying the property.
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Standard Contract. We have an arrangement with a local office of an International Law company that will offer a fixed fee for managing the purchase on the standard contracts which have been vetted by them. Any additional requirements will be quoted on a case by case basis.
Leasehold Transfer cost and stamp duty is 1.1% of the apartment price
Freehold fees work out at approximately 4% of the sales price


Thai will.
- A will specifically related to your Thai property can be provided by the same International Law company for a flat fee of Baht xxx


Apartment management/rental, cost and scope of service
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Phuket PRD Properties Rental Co. Ltd will offer a rental pool for those owners who wish to obtain rental income from their property.
The projected return being forecast as 8-10% % net.
Owners will be able to use their apartment for 60 days each calendar year
Minimum term for rental being 3 years


Healthcare, what is available locally and at what cost?
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Phuket boasts two excellent international hospitals, where English is widely spoken
Typical fees are less that GBP12, USD24 for consultation and treatment
Dentistry, Lasic Eye treatment, and cosmetic surgery are of very high standard and relatively inexpensive.
For long term residents BUPA Thailand and other healthcare companies offer comprehensive medical coverage for local treatment.


Visa, tourist, retirement, business
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One should look at Royal Thai Embassy web sites but Visas are usually




Tourist, most countries have reciprocal visa arrangement that provide 28 days stay in Thailand as a tourist without visas; visas for longer stay must be applied for at the Royal Thai embassy in your country of residence
Retirement visa for the over 50's are readily available; the criteria should be verified at your local Thai embassy
Work permits can be obtained for foreigners with specific skills, applications need to be submitted to the Thai authorities in your country of residence. The local Thai embassy will define the required documentation and relevant information


Driving, left hand side of the road, international driving license, car rental
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As in the majority of Asia, driving in Thailand is on the left hand side of the road i.e. right hand drive cars
A Thai driving license can be acquired for long term residents, holders on Overseas license which specify the type of vehicle they are allowed to drive, can obtain a Thai driving license, subject to passing an eye test.
International driving licenses can be used for car hire and are acceptable to the police, should they require to see the license
Car hire is very easy, rates vary according to the length of hire, daily Baht1,400 to monthly Baht14,000


Tsunami, distance from coast and warning towers
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Much of the international press was extremely misleading about the tsunami. Phuket island suffered very little damage but even so the government has installed a complete warning system with loudspeaker broadcast in several languages.
Lakeside is 7km from the coast and thus cannot be affected by any tsunami.


Rental income and taxation
- Personal income is subject to Thai taxation but most management companies will deduct the tax from the income and pay this directly to the tax office.


Personalise apartment
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Buyers can make small changes to the apartment but these must be agreed by the developer.
Buyers choosing to opt for the rental pool must purchase the furniture package


Financing available for purchase
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In general financing is not available for foreigners however certain banks in Singapore and finance companies in Hong Kong will lend money to purchase freehold property in Thailand
Lakeside offers a 5 year repayment plan see payment plans


Property resale
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Buyers are free to sell their apartments; there are many agents on the island and the normal fees start at 5% of the sales price.


Phuket Property market prospects
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The market is still buoyant, both budget high end properties sell well and price increases have been around 15% per annum


Apartment complex upkeep and maintenance
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PRD Property Management Co. Ltd will maintain the common areas of Lakeside; this includes elevator maintenance, pool cleaning, gardens, roads, plus rubbish collection


Flying into Phuket
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There an increasing number of direct flights into Phuket; these include Hong Kong, Singapore, UK, Australia, Austria and many more but visitors should check the airlines.
Alternatively visitors transit in Bangkok , which adds around 3.5 hours to the journey.