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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 Fifth Element you have to follow these steps:
Unit selection and agreement of terms and conditions
Sales and Purchase Agreement
1st Contract Payment
Fifth Element is conveniently located just 530 m from 7-Eleven, which can be reached within 6 mins. by foot.
There are many other shops situated in the area of Fifth Element, the 3 closest being:
- Plaza Del Mar is 400 m away (about 5 mins. by foot)
- Lagoon Thai Crafts is 720 m away (about 9 mins. by foot)
- MUDI essence of luxury (2) is 590 m away (about 7 mins. by foot)
The surrounding area, where Fifth Element is situated, offers a wide variety of restaurants. See the closest of them below:
- million food order is 390 m away (a walk of about 5 mins.)
- Pasta is 510 m away (a walk of about 6 mins.)
- Flame is 520 m away (a walk of about 6 mins.)
Bangkok Hospital Clinic Bangtao is the nearest health facility, which is 1.8 km away (you can drive there in 5 mins.) from the project, while the closest schools in the proximity of Fifth Element are:
- Phuket Driving Range is 160 m away (about 2 mins. by foot)
- Cherng Thalay Wittayakom School is 470 m away (about 6 mins. by foot)
- School DANI KAJUKIET is 1.7 km away (an approx. drive of 4 mins.)
Phuket International Airport is located 19.2 km from Fifth Element and it takes about 26 mins. by car or taxi (depending on the traffic) to get there.