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The building (the bricks and mortar) can be owned by a non-Thai national outright in their name in what is called the house registry which secures ownership indefinitely of the structure.
In Thailand non-Thai nationals cannot own land outright in their name. Land can be controlled through either a Thai Company or a long-term registered lease. The longest registered lease term by Thai law is 30 years and most developers will offer 3 terms for a total of 90 years.
A 30-year lease period is legally protected under Thai law and ownership cannot be disrupted. It is common for developers to offer an additional two terms of 30 contractually obligating a total of 90 years.
Prior to purchasing a leasehold property it is important to secure a copy of the lease agreement or get further clarity on these three points.
#1 - Who is the lessor? (an individual or a Thai Company) Securing a lease from a Thai Company offers much more security than a private individual.
#2 - Do I have voting rights as a Lessee? (Some lease contracts do not allow lessee to have voting rights)
#3 - Is there a succession clause in the lease agreement that will allow inheritance of the lease?
After you have found the right property at Monotown2 Suthep you have to follow these steps:
Unit selection and agreement of terms and conditions
Sales and Purchase Agreement
1st Contract Payment
Monotown2 Suthep is located 1.7 km away from E-Trade International Company Limited and it can be reached within 4 mins by car.
There are many other shops situated in the area of Monotown2 Suthep, the 3 closest being:
- Krisana Paruay Lottery is 7.7 km away (an approx. drive of 15 mins.)
- King Power Chiang Mai Airport is 9.8 km away (an approx. drive of 20 mins.)
- Kids & Mom is 1.6 km away (an approx. drive of 4 mins.)
The surrounding area, where Monotown2 Suthep is situated, offers a wide variety of restaurants. See the closest of them below:
- Pra Nang Chiangmai Thai Cookery School is 150 m away (a walk of about 2 mins.)
- Phranang Kitchen is 160 m away (a walk of about 2 mins.)
- Mamala is 400 m away (a walk of about 5 mins.)
Mr. Pat Special Clinic is the nearest health facility, which is 1.4 km away (you can drive there in 3 mins.) from the project, while the closest schools in the proximity of Monotown2 Suthep are:
- The home of perfection is 990 m away (about 12 mins. by foot)
- Suu's Studio is 8.1 km away (an approx. drive of 16 mins.)
- Ban Huai Sai School is 1.2 km away (an approx. drive of 3 mins.)
Chiang Mai International Airport is located 1.8 km from Monotown2 Suthep and it takes about 4 mins. by car or taxi (depending on the traffic) to get there.