What is your property classed as – a villa or a condominium and how does Thai law decide what to define your property as. The answer lays in the Thai statues for a definition. Each area much like the West has zoning laws and this one can find at your local Tambon Administration Organization (OrBorTor). There are no laws which state how many floors a building must have in order to be classified as a condominium however laws with regards to condominiums are ruled by the Private, Commonly-Owned Housing Act of 2522 BE (1979), also known as the Condominium Act. A villa is a stand-alone building on a plot of land, whereas a condominium is a structure featuring both privately-owned property and common property, with the land owned jointly by the owners through a “juristic condominium person.
Buying a villa is more difficult than buying a condo. For this reason, most expats buy into a condominium block as their retirement home. Some do opt for a villa especially if they are married. On the other hand, many simply opt to rent on long term bases without the problems of property maintenance. Think about what it is that you need and how best to achieve that aim. Speak to one of our attorneys who will be able to point out the pro’s and con’s of what you have in mind.