The quiet area of Hua Hin is a resort on the Gulf of Thailand, known for beautiful views and a lush environment. Hua Hin used to be a small fishing village until it was discovered by the Thai royal family and developed into an escape from the urban hubbub. The beach is now a popular locale for various water sports, including surfing and kite surfing. It is lined by hotels and seafood eateries that serve locals and tourists wanting to check out what all the fuss is about.
Due to the popularity of Hua Hin, it is in high demand in terms of property rental and investment. There are a number of small business opportunities for those looking to invest in property in Hua Hin and exercise some enterprising spirit.
Buying a Property in Thailand
If you are a foreigner and have an interest in buying property or a Hua Hin House for sale, there are some important things you need to be aware of. As with all investments in a foreign country, it is always wise to do plenty of research first before committing finances. To this end, here are some things you need to know.
If you’re unfamiliar with local customs, culture and property laws, the first thing to do is get in touch with a property agent. Ask as many questions as you can and let them guide you using their local knowledge and expertise. They know the lie of the land, the language and the local real estate market, and will be able to offer invaluable assistance in your search. The other advantage is that they can actually serve as a conduit to a developer and broker on your behalf to get the best price on property.
As well as contacting a property agent, you should also communicate with a lawyer familiar with property laws and regulations in Thailand. They will be able to inform you of your rights as a foreign investor and what you should expect regarding the legal processes around buying and owning property.
If you’re interested in buying a condo as a foreign investor in Thailand, it can be owned in your name. If your primary interest is in the acquisition of land for the construction of a house, the process involves signing a 30-year lease term on the property and applying for a construction permit for the house. In this scenario, it is possible to reassign the lease to another party should you wish to sell, or even set up a sub-lease arrangement with an option to purchase.
Ensure that you also visit the Land Department office to check on the encumbrances on the property and if the seller actually has a legal right to the land. You can also check on the zoning of the land and any other issues for construction during this process.
Once these preliminary checks and processes have been completed, a non-refundable deposit can be made and the contracts drawn up for signing and processing.
Making the Most of Your Investment Opportunity in Thailand
Buying property can be difficult in any scenario, but especially in a foreign country. If you follow common sense and some basic guidelines, you will find that the entire experience is optimized.