Condominiums are slowly emerging as a popular investment for foreign buyers on Koh Samui as Thai law permits them to be purchased in a foreigner’s name. In Thailand a foreigner can personally own a building, but not the land it sits on.
The need for the complex Thai/Foreign company structure is removed making condominiums an obvious solution to the foreign ownership issue. According to Thai law, foreigners can own units in a condominium development, however there is a quota. No more than 49 per cent of a building’s units can be owned by foreigners.
Many luxurious, low-rise condominium developments are under construction all over the island. Most of these projects will include additional services and facilities, such as club houses, restaurants, pools, sports facilities and even spas. The critical consideration before purchasing a condo is who owns the building and how it will be maintained. Compared to houses, condominiums are comparatively expensive and their prices generally increase the higher up you are.
