The concept of 'condo' in Thailand goes far beyond a typical apartment building. It's a specific real estate format enshrined in law and regulated by the Thai Condominium Act. This structure includes unique rights, obligations, and management systems, including Freehold ownership and an official property document called the Title Deed (Chanote). Understanding these details is especially important for those planning to buy property — particularly foreigners.
We’ll explore how the condominium system works, its legal specifics, who manages such buildings, and why this format is considered one of the most convenient for non-residents.
What is included in common property
Common property consists of all elements of the building not owned privately by individual residents. This includes:
- the land under the building;
- hallways, staircases;
- elevators;
- parking areas;
- pools, gyms, recreation zones;
- water, electricity, and air conditioning systems;
- security and surveillance systems.
Maintenance of these areas is funded through monthly fees paid by all owners. The fee amount depends on the size of your apartment.
Who manages the building: Condo Juristic Person
Each registered condominium has a legal entity — the Condo Juristic Person. This body is responsible for the operation and maintenance of the building. Its duties include:
- day-to-day maintenance and cleaning;
- organizing security and technical monitoring;
- keeping financial records;
- issuing bills to owners;
- organizing owner meetings.
Management is carried out by a board elected from among the resident owners. Meetings are held at least once a year to approve budgets, reports, and major expenditures. Each owner has voting rights proportional to their share of ownership.
FAQ: Frequently Asked Questions
- Can a foreigner buy a condominium in Thailand?
Yes, provided that foreign ownership does not exceed 49% of the total residential area of the building. - What is included in common ownership?
Land, elevators, hallways, recreational areas, gyms, parking spaces, and other shared facilities. - Are there restrictions for foreigners?
A foreigner cannot own land directly. When purchasing a condo, payment must come from abroad and the transaction must be registered with the Land Department.
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