Fees Involved when Buying a Property in Thailand

If you are fond of acquiring various types of assets in different parts of the world, then it will be a great idea to purchase a holiday accommodation in Phuket. Acquiring a space in this lovely city is definitely a good investment more so that its market value constantly increases. Since it is located in a place that is accessible to various tourist attractions in the metropolis, its cost will surely soar high in just a couple of years.

However, you need to be aware that when purchasing a real property in Thailand, or any part of the globe, there are corresponding fees that you need to buy. Here is a list of some of the common charges.

• Transfer Fee

This cost is normally equally shared by the seller and the buyer. It is based on the selling price or the official valuation of the property, whichever is higher.

• Land Tax

This annual levy is not usually collected by the government on a regular basis. However, you need to be certain that the amount you owe will not be accumulated so that you will not be burdened with such a huge obligation. To be certain about the costs, you may get a legal counsel so that you will be properly guided.

• Structures Usage Tax

If you will opt to use the realty for commercial purposes, then you will be charged with a rate of around 12 percent on the assessed or actual gross rental value of your asset.

• Stamp Duty

You are required to pay a certain amount of percentage from the actual purchase price or the appraised value of your estate, whichever is higher. However, you will not be liable for this fee if you are subject to the Specific Business Tax.

These are some of the costs that you need to consider when buying a villa in this lovely nation. By knowing this information, you will be aware of some of the expenses that you need to take into account.

Now, if you will be able to locate the space that you want to buy, and if you opt to rent it out to the tourists that will be visiting in Thailand, then it will be ideal to look for ways on how to advertise your place to the market. One way of doing so is by adding your holiday accommodation in a popular website that promotes various villa rentals in the country. For more details, you can get in touch with us!

• Heritage Building Society and Phuket villas