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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 The Prospect you have to follow these steps:
Unit selection and agreement of terms and conditions
Sales and Purchase Agreement
1st Contract Payment
The Prospect is located 1.5 km away from 7-eleven Nong Hin intersection and it can be reached within 3 mins by car.
There are many other shops situated in the area of The Prospect, the 3 closest being:
- MD bedding is 1.5 km away (an approx. drive of 3 mins.)
- Amphornwatlaem is 2.3 km away (an approx. drive of 5 mins.)
- Mermaid Drinking Water Distribution Center is 2.0 km away (an approx. drive of 4 mins.)
The surrounding area, where The Prospect is situated, offers a wide variety of restaurants. See the closest of them below:
- Yui Relatives Restaurant is 340 m away (a walk of about 4 mins.)
- Chinchilla Lake View is 560 m away (a walk of about 7 mins.)
- Mirabel Resort is 540 m away (a walk of about 6 mins.)
Health Spa Jivica is the nearest health facility, which is 1.5 km away (you can drive there in 4 mins.) from the project, while the closest schools in the proximity of The Prospect are:
- Wealthy shop is 740 m away (about 10 mins. by foot)
- Lukomorye Children's Development Center is 860 m away (about 11 mins. by foot)
- Moto School Sabaimoto is 2.2 km away (an approx. drive of 5 mins.)
U-Tapao International Airport is located 37.7 km from The Prospect and it takes about 41 mins. by car or taxi (depending on the traffic) to get there.