Why buy secondary housing in Pattaya?
Pattaya has long attracted foreign buyers with its climate, beaches, and vibrant lifestyle. But did you know that secondary housing here is actually beneficial? Why? You get a ready-made apartment with a history and often at a more advantageous price than a new building. Additionally, secondary properties are often located in already developed areas with established infrastructure.
Condominiums: how can foreigners acquire their share?
Foreigners can own apartments in condominiums, but there is an important condition: the share of foreigners in one building must not exceed 49%. This is the rule of the Condominium Act. Therefore, before rushing for the keys, make sure that there are still «foreign» quotas available in the complex you have chosen.
Taxes and fees: what should be considered?
If you think that the buying process ends with the transfer of money, think again. When purchasing property in Pattaya, a transfer fee is charged — usually 2% of the appraised value. There is also a withholding tax when selling property — 1% of the appraised value or sale price, depending on which is higher. Don’t forget this when budgeting!
Where is the best place to look for secondary housing?
Pattaya is diverse: from the bustling Walking Street to the quiet Jomtien. By the way, we have 17 ready-made apartments in the latter. Or perhaps you prefer Pratumnak with its elite atmosphere? We have 4 hot offers here. And this is just the beginning! The choice is vast, so hop on a bike and hit the road today.
Recommendations for closing the deal
The buying process can take anywhere from a few weeks to months depending on the complexity. Therefore, do not hesitate to contact licensed lawyers and agents — they will check the documents and help you stay on track. We will gladly recommend a trusted partner.
Long-term rental as an alternative
Not ready to buy? Consider renting. The law allows foreigners to lease land for up to 30 years, with the possibility of extension. This is a good way to feel like a local without getting bogged down in the paperwork of buying.
Your dream of owning square meters in Thailand is closer than ever. Call: +66 80 249 1400, +66 80 002 0600 or write to landofsmile-realestate.com — we will help you figure it out.