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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 Teak Phuket you have to follow these steps:
Unit selection and agreement of terms and conditions
Sales and Purchase Agreement
1st Contract Payment
The Teak Phuket is conveniently located just 500 m from Seven-Eleven, which can be reached within 7 mins. by foot.
There are many other shops situated in the area of The Teak Phuket, the 3 closest being:
- Sunthorn Laundry Sunthorn Laundry is 790 m away (about 9 mins. by foot)
- Atcharaphon Mee Phon Clothing Store is 1.2 km away (an approx. drive of 3 mins.)
- Arjanphon has effect is 1.2 km away (an approx. drive of 3 mins.)
The surrounding area, where The Teak Phuket is situated, offers a wide variety of restaurants. See the closest of them below:
- Noodle House 💛 The Noodle House is 320 m away (a walk of about 4 mins.)
- Mr. Dom Restaurant is 310 m away (a walk of about 4 mins.)
- Mr. Dome Food is 250 m away (a walk of about 3 mins.)
Bankok International Hospital, 83,000 is the nearest health facility, which is 3.9 km away (you can drive there in 7 mins.) from the project, while the closest schools in the proximity of The Teak Phuket are:
- Track bayonet nursery pasak is 570 m away (about 7 mins. by foot)
- SCHOOL DAYS KAJUKIET is 570 m away (about 7 mins. by foot)
- Nursery Kajonkeat Pasak is 580 m away (about 7 mins. by foot)
Phuket International Airport is located 17.4 km from The Teak Phuket and it takes about 23 mins. by car or taxi (depending on the traffic) to get there.