THAILAND Market Leaders in Worldwide Property Investment
INVESTMENT GUIDE +44 (0)161 772 1370
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CONTENTS
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Pg 4-5
About Thailand
Pg 16-17
Buying a Freehold Title
Pg 6
About Pattaya & Jomtien Beach
Pg 18-19
Buying in a Thai Company Name
Pg 8-9
About Bang Saray & Wong Amat
Pg 20-21
Frequently Asked Questions
Pg 10-11
About Phuket & Koh Samui
Pg 22-23
Purchase Process
Pg 12-13
About Bangkok
Pg 24-29
Current Developments
Pg 14-15
Off-Plan Investment Guide
Pg 30-31
Why Invest with Knight Knox International?
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THAILAND
From the pristine white sands of Koh Samui, to the frantic pace of Bangkok, Thailand attracts over 14 million visitors every year. Lured by the tropical climate and breathtaking scenery, the country is an eclectic mix of backpackers, families, couples and celebrities, all wanting to take home memories of their own piece of paradise.
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As one of the largest countries in South East Asia, Thailand has much to offer. Serene Buddhist monks praying at their roadside temples and elephant treks through the rainforest, offer a tranquil alternative to those who prefer the hustle and bustle of Pattaya and Phuket. One trip seldom gives visitors the opportunity to see all of Thailand, meaning people return year-after-year to see all it has to offer.
An emerging economy, the country exports over $105 billion of goods and services annually and is the world’s largest exporters of rice, making it one of the strongest players in the South Asian market. With the World Travel and Tourism Council predicting a steady rise of 8.8% by 2021, tourism is currently Thailand’s largest revenue generator, enjoying a sustained period of growth since the mid 1980’s.
Buoyed by a strong economy, the real estate market is on the rise with a steady stream of expats buying investment properties and holiday homes to add to their portfolios. Off-plan resorts in tranquil beachfront towns are market gold, making Thailand the go-to destination for any savvy investor.
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A B O U T PAT TAYA & J O M T I E N B E AC H Situated on a small peninsula on the South Coast of Thailand, the beach-front resorts of Pattaya and Jomtien Beach are two of the most popular tourist attractions in the country. With excellent transport links from both Bangkok and Suvarnabhumi airports, in addition to frequent local transport in the form of taxis, trains and buses, it’s no wonder that Pattaya and Jomtien are two of the most sought-after destinations in Thailand.
Pattaya A popular weekend getaway for locals, Pattaya is famous for its beautiful beaches and vibrant nightlife. Divided into North, Central and South Pattaya, visitors have access to an excellent range of restaurants, bars and retail outlets, in addition to a wide variety of daytime activities including open water sports and cultural expeditions.
Jomtien Beach Already a popular holiday destination among native Thais, Jomtien Beach is fast becoming a fashionable hotspot. With over 6km of white sandy beaches and clear tropical waters, the resort is a desirable location for families and couples alike, as the former paddy fields have grown into a thriving community, with new hotels, shops and condominiums being built at a tremendous pace. The majority of the population is comprised of expats and retirees, in addition to the large amount of holiday homes that have been bought in recent years by Bangkok city workers desiring a quieter life.
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A B O U T B A N G S A R AY & WO N G A M AT Bang Saray Traditionally a sleepy fishing village, Bang Saray (Bang Sare) is an idyllic destination, popular with both families and couples alike for its white sand beaches and seafood restaurants serving freshly caught fish from the bay. Located just a short 15-minute drive to the South of Pattaya and 90-minutes from Bangkok airport,
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visitors can choose to take advantage of the tranquil setting and relax on the long stretch of white sand beaches, or take the regular bus service which travels back and forth from Pattaya all day and take advantage of the vast range of retail and entertainment outlets in the area.
Wong Amat & Naklua North of Pattaya, above the Pattaya North Road, is the exclusive district of Naklua and the beautiful coastal region of Wong Amat. Perhaps because of its rustic charm, in addition to it being widely regarded as having the best beaches in the area, Naklua and Wong Amat have both seen an increasing amount of luxury hotels
and condominium developments built, in harmony with the local landscape. Limited available space for construction has led to the area becoming more exclusive than central Pattaya and Jomtien Beach, ensuring that the local landscape will remain relatively unchanged for years to come.
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ABOUT PHUKET & KO H S A M U I
Phuket Home to its very own international airport and five star hospital, Phuket is a trendy, upmarket destination which caters extensively for its visitors, both foreign and domestic. Boasting a choice of championship golf courses, exhilarating water sports and word-class diving locations, the island is equally as famous for its white palm-lined beaches and the generous hospitality of its people.
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For those who prefer some retail therapy, Phuket is considered a serious rival to Bangkok for the shear breadth of its shopping outlets, from the colourful and diverse traditional street traders, to the larger local shops and Western-style department stores. Simply put, no matter how you choose to spend your time, you won’t want to leave!
Koh Samui Thailand’s third largest island, Koh Samui is a haven of beautiful white sand beaches, lush tropical gardens and gentle ocean breezes. Property on the island leans towards the higher end of the market, although there are a wide range of investment avenues available for a range of budgets, from large-scale condominium developments to private, beach-front villas.
One of the most popular tourist destinations in the country, Samui has a regular boat service operating daily to the neighbouring islands of Koh Tao and Koh Phangan, allowing visitors and residents’ access to a myriad of activities, including SCUBA diving and snorkelling.
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A B O U T B A N G KO K The capital and cultural centre of Thailand, Bangkok is one of the most cosmopolitan and eclectic cities in the world. A heady mix of old versus new, Bangkok has grown from a small trading post to one of the most popular destinations in the world. High-rise condominiums, huge retail outlets and five-star hotels create a stark contrast to the magnificent palaces, grand temples and traditional street markets found nestled on every corner. Easily one of the most accessible cities in Asia, Bangkok is a thriving hub of activity, boasting two airports (Suvarnabhumi International Airport and Don Muang Airport) and extremely efficient Skytrain (BTS) and underground (MRT) rail networks. Whether tourist, resident or trader, Bangkok will intoxicate the senses and transport you into a world like no other!
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OFF-PLAN INVESTMENT GUIDE
WHAT ARE THE ADVANTAGES TO BUYING OFF-PLAN?
WHY SHOULD I CHOOSE THAILAND?
Investing in off-plan property will always
Already an established tourist destination,
involve a certain amount of risk, due to the assumption that the capital appreciation of the development will be worth more upon completion of the project.
Thailand is an ideal location for any investor. Whether you are attracted by the thought of purchasing a holiday home that will appreciate in value, or a buy-to-let property in the lucrative rental market, Thailand offers you the opportunity to achieve a maximum return on investment.
One of the main advantages to buying off-plan is that, as the investor, you will not only benefit from an excellent purchase price, but will have access to attractive finance structures. As the developer will want to lessen its own risk with immediate cash investments, your initial deposit is usually around 25% of the value of the purchase, with the balance payable (at 0% interest) over the remaining construction period. When purchasing property that has not yet been constructed, you are relying on the developer to provide you with accurate artist impressions and diagrams of the site, which should be available freely to anyone with a serious interest in the development. You also need to take into account the location of the development and the value of the land in the surrounding area. Demand for popular locations will be high, so ensure that you have access to the development as early as possible, in order to secure the best value deal for your money .
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Foreign investment is welcomed and a stable social and political environment is enhanced by the strong business ethos of the Thai people. Unlike other markets, the Thai government has stringent procedures in place for ensuring that all developments are built to the highest of specifications, without harming the local environment. New developments are generally located in popular tourist areas, enabling investors to maximise the greatest return on their investment or generate the most profitable rental yields. Under Thai law, foreigners are allowed to buy condos freely without the hassle of having to set up a limited company, as long as the foreigner-to-Thai ownership ratio is less than 49%. Alternatively, investors can choose to buy in a Thai holding company, which may potentially generate a larger overall saving on your initial investment.
As the property market in Thailand is still developing, it is currently a very competitive environment for investors. Buying early will enable you to buy the best units on any given development, with the option to sell them at a later date, as the prices will increase as the development matures
WHICH AREA SHOULD I INVEST IN? Thailand is a country which caters for all tastes and one of the hardest decisions to make when purchasing a property is choosing where to buy. If a vibrant nightlife and the hustle and bustle of city living is what you seek, then Bangkok and Pattaya are the ideal destinations. Crammed full of bars, restaurants and retail outlets, you will never be far from the action. If you prefer a more tranquil setting; visit the idyllic islands of Koh Samui and Phuket for beautiful beaches and clear blue waters, or try Bang Saray and Wong Amat - ideal for those seeking a quieter pace of life and the more traditional charms of Thailand.
Wherever you decide to settle, the country is extremely easy to navigate as it has an excellent national transport network, allowing easy access between the districts, both inland and on the coast. Whether you are looking for a beautiful beach-front holiday home, or an up-scale apartment in a bustling city centre, you can be sure of an abundant choice of properties to choose from, to suit all requirements and budgets.
RECAP Act quickly, but smartly, in order to secure the best deal for your money. Remember, the more interest there is in a property, the less room you will have for negotiation! • If seeking a buy-to-let property, investigate the rental prices in similar developments in the area, to discover your best possible ROI • Speak to your Knight Knox International sales representative about which investment strategy is right for you
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BENEFITS OF BUYING A FREEHOLD TITLE IN MY NAME
Key points to remember when purchasing property freehold in Thailand are: To purchase a condominium in Thailand on a freehold basis, you do not need to set up a Thai bank account. The only requirements are that the funds must be transferred from a foreign bank account directly into the developer’s account, and there must be a trace of this too, i.e. proof of transfer.
When purchasing a condominium in Thailand, the Condominium Act stipulates that you are actually responsible for two separate parts of the property; the physical area of your apartment and a shared responsibility towards all of the communal areas, in partnership with the other residents. This will allow you to have input into the running and maintenance of the development, giving you greater control over your investment.
When considering the purchase of a condominium in Thailand, carry out your own due diligence and check that the quota of units allocated to foreigners has not been exceeded. Thai condo developers are legally obliged to sell 51% of the units within the development to Thai nationals, so if they have already reached this figure, then you need to look for an alternative project, unless you wish to investigate the prospect of buying in a Thai company name.
Many developers will offer special prices for foreigners looking to buy on a freehold basis, allowing for the possibility of a lucrative investment opportunity in one of the most popular destinations in the world
In 2008 the Thai government made changes to the Condominium Act, passing the fourth amendment which allowed foreigners to purchase property in Thailand on a freehold basis, under their own name. The passing of this act has opened up the Thai property market to a wealth of new investors, who were previously uneasy about having to buy property in a Thai company name and were only allowed to own a maximum of 49% of the shares.
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THE BENEFITS OF BUYING IN A T H A I C O M PA N Y N A M E
A number of key points to remember about buying in a company name are: First, you are setting up a holding company for the purpose of buying a home. You cannot use this company to do business, put another house or condo in, or any other active matters in a company.
You are protected under the World Trade Organisation, so international laws will apply to your company.
If there is a major coup or war and you have to leave Thailand, you will be able to still control your company and retain it through your local Thailand Embassy.
If you get into an accident and a Thai national dies, they can take you to court and demand money in the form of your condo. If your property is in a company name they cannot touch this asset.
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You can put this company in your will of testament to your loved ones - it is still Freehold.
When owning a property in Thailand, 51% must be owned by a Thai national(s) and 49% by a Farang, or Westerner. This is not a cause for concern, as all of the Thai shareholders must sign a power of attorney to you. They also have to submit their ID card and House Papers and they must sign over their shares to you. If for some reason you have a problem with a share holder (which usually only happens when you put your friends or loved ones in) you may take them out without them being present. You have all of the papers necessary to remove them and add another shareholder.
You one
will be the Director and the only who can sign company documents.
When you sell the property you do not have to go to the land office to pay taxes. You simply use a lawyer to change the Director and the customer can pay any way you would like.
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F R E Q U E N T LY AS K E D QUESTIONS What is the usual period of time for a visa in Thailand? It is possible to spend up to 90 days in Thailand without applying for a tourist visa. If you require a tourist visa, make sure you apply prior to leaving your home country. Do I need a bank account in Thailand to purchase a property? No, it is not a legal requirement, although you do need to prove that the funds have been transferred from a foreign account, into the country.
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Is there finance available? No! Thai banks do not offer finance to overseas investors. However, to compensate for this, most developers offer interest-free payment plans over the course of construction. Can I rent my condominium out when I am not using it? Yes! Rental management is an extremely competitive business in Pattaya, with many options available. Often developers will assist you with this if you ask.
Will my apartment be furnished? Certain developers will offer fullyfurnished options. Please check the terms & conditions before purchasing. Can I arrange a viewing before I buy? Yes! If you inform us of your travel dates, we can arrange for the developer to meet with you and show you around the properties. Can foreign nationals buy property in Thailand? Yes! In 2008 the Thai government introduced new laws which allows foreigners to invest in Thaiand.
Am I free to sell my condominium whenever I want? Yes! You can sell your unit anytime after you exchange contracts, as long as all of your payments are up-to-date. What is the weather like in Thailand? One of Thailand’s main attractions is its fabulous weather. Temperatures are fairly consistent throughout the year; averaging around 30°C. How accessible is Thailand? Thailand’s main airport is Bangkok, which is its main airport with regular flights going from major worldwide destinations.
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P U R C H AS E PROCESS
Once your unit(s) has been selected with the help of your property consultant, please complete the reservation agreement and return along with a copy of your passport, recent utility bill, and your deposit. The bank transfer details will be found on the reservation agreement.
At the time of exchange you will also be required to sign and return your contracts. If you are unable to do this due to your location your solicitor will be able to act as your Power of Attorney. Please note there is normally a small fee for this service.
You are required to pay a reservation deposit
After you have exchanged contracts you will receive a welcome letter from the developer, which will detail the future service they will provide and include all contact details.
Your consultant will be on hand to help you with this should you require assistance, as we have a selection of recommended solicitors.
Your first instalment payment will be made when you exchange contracts, your solicitor will inform you when they have the date for exchange, providing you with an adequate notice period.
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Your first payment will begin 28 days after the exchange of contracts.
Stage 1 Sign reservation form and return along with a copy of your passport and reservation payment
Stage 2 Contract amount payable upon signing contract
Stage 3 Payment plan as per contractual agreement
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OUR CURRENT D E V E LO P M E N T S
Ocean View
Bang Saray
PRICES FROM 790,000 THB 17,680 GBP
• 200m from the beach • 1 & 2 beds available • Freehold ownership available
Abatalay Condominium
Pattaya
PRICES FROM 825,000 THB 18,460 GBP
• Free exclusive furniture pack • Free kitchen and air con on selected units • Freehold ownership available
Bang Saray Condominium
Bang Saray • Fully furnished
• Only 200m from the beach • Located in an up-and-coming area
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PRICES FROM 880,000 THB 19,680 GBP
PRICES FROM 999,000 THB 22,370 GBP
The Maldives
Pattaya
• Exclusive pre-launch prices • Luxury resort living • Proven developer with excellent track records
PRICES FROM 1,249,000 THB 27,920 GBP
Laguna Beach Resort II
Pattaya
• An array of facilities available inclusive • Only 700m from Jomtien beach • 13,000sqm resort with over 250,000sqm pool area
Amazon Residence
PRICES FROM 1,399,000 THB 31,290 GBP
Jomtien
• 800m from the beach • 1 & 2 beds available • Freehold ownership available
Seven Seas Condominiums
Jomtien
PRICES FROM 1,399,000 THB 31,290 GBP
• Only 350m from Jomtien Beach • Fully furnished apartments • Flexible payment terms All prices are set in Thai Bart, Sterling prices are given an indicator at time of print
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OUR CURRENT D E V E LO P M E N T S
FeeLTure
Pattaya
PRICES FROM 1,459,000 THB 32,660 GBP
• 100% Freehold ownership • 8% projected rental returns • 20% over construction, up to 80% on completion
Club Royal
Wong Amat
PRICES FROM 1,490,000 THB 33,360 GBP
• 100 metres from the ocean • Direct access to Wong Amat Beach • First-class resort-style amenities
Central Point
Pattaya
PRICES FROM 1,490,000 THB 33,360 GBP
• Free exclusive furniture pack including TV and air con • Highly sought after central Pattaya location • Freehold ownership available
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Waterpark Comdoninium
PRICES FROM
Pratumnak
1,490,000 THB 33,360 GBP
• Exclusive family residence • Various rooftops pools and facilities • Next to royal golf course
PRICES FROM 1,600,000 THB 35,810 GBP
PR1 Pattaya Condos
Pattaya
• Distressed sale reduced by 300,000thb • Instant returns • Only 2 units remaining
Grande Caribbean
PRICES FROM 1,900,000 THB 42,530 GBP
Pattaya
• Water-themed park in a unique enviroment • Located between Pattaya and Jomtien beaches • Excellent payment plans available
Playground Condominiums
Koh Samui
PRICES FROM
1,950,000 THB 43,650 GBP
• Ocean view apartments • Beachside location • Completion July 2013 All prices are set in Thai Bart, Sterling prices are given an indicator at time of print
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OUR CURRENT D E V E LO P M E N T S
Atlantis Resort
Pattaya
PRICES FROM 1,950,000 THB 43,650 GBP
• Only 300m to Jomtien Beach • Largest swimming pool area in Pattaya at 2,600sqm • Returns of up to 15%!!!
Park Royal 3
Pattaya
PRICES FROM 2,790,000 THB 62,440 GBP
• 500m from the beach • Prime Pratumnak location • First class amenities and facilities
The Vision
Pattaya
PRICES FROM 3,690,000 THB 82,580 GBP
• 0% interest payment plan • Key location in Pattaya • Coming from a leading developer with a proven track record
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Wong Amat Tower
PRICES FROM 3,698,000 THB 82,760 GBP
Wong Amat
• 50m from the beach • Sky lit rooftop infinity pool and jacuzzi • Spectacular views
Royal Gardens
PRICES FROM 4,180,000 THB 93,537 GBP
Hua Hin
• Affordable luxury properties in Hua Hin • Fully managed villas • Gated community
PRICES FROM
Chaophraya Condos
4,999,950 THB 111,930 GBP
Bangkok
• Bangkok’s 5 Star neighbourhood • Located Directly on the Chaophraya River • Award winning developer
Ocean Palms
PRICES FROM 5,950,000 THB 133,210 GBP
Phuket
• Walking distance to Nai Thon Beach • Luxury apartments at a great price • Payment plans available - completion Q4 2013 All prices are set in Thai Bart, Sterling prices are given an indicator at time of print
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WHY BUY WITH K N I G H T K N OX I N T E R N AT I O N A L? We are a long-standing company founded in 1997 (a Ltd company since 2004) with an excellent reputation. We have a large, experienced team of over 30 staff, with a collective property experience of more than 300 years. We are one of very few companies to experience ‘full market cycles’.
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We have exclusive market-leading products that are handpicked proven investments that sell in volume. We sell property in over 50 countries worldwide and have local expertise on the ground in every location. We cater to ALL types of clients from first-time buyers to large investors, helping to build property portfolios and guarantee good income returns. Most of all, our clients buy with us again and again because we are honest, experienced, professional and market the best opportunities. Knight Knox International sell over 1,000 properties a year, with a total value of over ÂŁ100 million.
Saldord Quays, Manchester
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Knight Knox International Ltd Web: www.knightknox.com Email: info@knightknox.com Tel: 0161 772 1370