Buy a condominium in Chiang Mai
They experienced “life” in Thailand. They relaxed on the beach, dined in a rooftop restaurant, gazed out over an endless mountain panorama, and wondered: “Could I enjoy this lifestyle for years? Could I make it a reality? Could I… buy a house or an apartment in Thailand?”
The Kingdom of Thailand exerts a magical attraction. Many come for a week and end up staying for a lifetime. It's intoxicating and never fails to captivate you.
In 2020, Covid-19 changed our travel habits. Spontaneous week-long trips are hardly possible anymore. Travel requires more planning, and longer stays are becoming increasingly common. For those who need more time, owning a property in Thailand is a sensible option.
Whether you are looking for dreamy white beaches and islands, want to experience the vibrant city life in the capital or escape to nature in the mountains – Thailand has something for you.
People ask themselves these questions year after year. Perhaps you've asked yourself this question too.
It is possible to create this reality. And we'll show you how.
What will the real estate market look like in 2022?
Although emerging markets slowed down during the period 2020-21, the beginning of 2022 offers new opportunities for those wishing to invest in real estate and lifestyle.
Although few new construction projects are currently starting, several projects that were completed in the last 3 years are available for initial purchase.
Thailand is a buyer's market, as companies seek foreign investment.
Thailand offers something for everyone. We will take a closer look at other popular regions (Phuket, Pattaya, Bangkok) in later articles, but for now we will focus on two things:
Why does Chiang Mai attract people?
Thailand's rich history and culture are strongly influenced by neighboring countries.
Chiang Mai and the surrounding regions have blended Thai, Chinese, Burmese and Laotian influences, creating the "taste of the North".
Surrounded by mountains, Chiang Mai was once the power center of La Na. The city is laid out around a central square, the so-called Old City. Visitors can stroll along the outer perimeter, encircled by a moat, and explore the preserved remains of the ancient fortifications.
It offers a relaxed lifestyle and a feeling of being at one with nature. From here, you can easily visit elephant sanctuaries, national parks, adventure sports, and historical buildings.
Markets and restaurants offer delicious food with flavors you won't find anywhere else, and if you're a coffee connoisseur, most of the coffee comes from local mountain plantations.
So, which properties are available for you to buy?
Popular types of real estate for sale
Condominium – A condominium is a building with private and common ownership. The owners of a condominium own the property through a legal entity that manages the condominium. (The Condominium Ownership Act – the Act on Jointly Owned Residential Property of 2522).
Simply put, a condominium is a residential unit that is part of a larger complex. The owner has legal ownership of the private apartment and a share of the common areas of the building.
For foreigners who wish to settle in Thailand, owning a condominium is the easiest way to acquire real estate.
The crucial question to ask yourself when entering the condominium market is: "Am I buying an existing, a new, or a condominium still under construction?"
House and land – It is possible to own a house in Thailand, but the process is more complex. Under Thai law, foreigners cannot own land. Any structure built on it is considered part of the land.
Don't let that discourage you. There are various ways to build and own a house. The three most common are:
In all these cases, you do not own the land on which you are building, but you do own your house.
We will discuss this in more detail in another article, but if you want more space for children and pets, or want to build a house in a quieter area, it is possible, and with the right legal support, it will be easy.
Villa – Villas are classified as residential buildings and are therefore subject to the same ownership and purchase laws.
The defining characteristic of a villa is its exclusivity. It is often located in a gated community and shares facilities (pools, restaurants, gyms, etc.) with other owners. A villa gives you the feeling of living in a holiday resort around the clock.
As a buyer, you will enjoy these facilities and be part of a community.
During the purchase process and in the contract, there are a few more details to consider, such as obligations regarding common areas and the house rules. But here, too, the right legal advice simplifies the process, protects you, and helps avoid potential financial risks.
Why should you buy a condominium (in Chiang Mai)?
Under Thai law, a foreigner can purchase a condominium in their own name, on behalf of a Thai limited liability company (LLC), or a legal entity. This grants them full ownership rights to their property.
Advantages of owning a condominium compared to other types of real estate:
Important points to consider:
As part of the due diligence process conducted by a legal service provider, it will be reviewed and confirmed whether your potential purchase meets this requirement. This early information can save you time and money.
If you use the condominium as a holiday home, a legal administrator or a building committee elected by the stakeholders can take on this task.
The operating cost flat rate is based on the square footage of the property and is payable monthly. It can be adjusted to current needs by a resolution of the shareholders at any general meeting.
Example: Utility costs 50 Baht per square meter per month, apartment size 100 square meters, total annual fee = 50 Baht x 100 square meters = 5,000 Baht per month x 12 months = 60,000 Baht per year.
A lawyer specializing in real estate law will confirm that these fees are reasonable when reviewing your purchase agreement.
Under Thai law, individuals with two visa types are prohibited from earning income in the country: the pensioner visa and the non-spouse visa. This includes rental income. However, with other visa types, you can generate income without restrictions.
Chiang Mai is a diverse city that feels like a large, old-fashioned small town.
Whether you are looking for an existing condominium with an established management team and a long history, a new condominium where you will be the first owner, or whether you are willing to wait for the development of a new complex (buying off plan); you will find a condominium to suit your lifestyle, location preference, and budget.
We will discuss different purchasing options and locations further below.
The purchase and legal process
Whether you are an experienced property investor or a first-time buyer, always remember that this is not your home country.
Even though many laws and procedures are the same, you will be putting down roots in a country with a foreign language and culture. Don't worry, there are professionals who can help you.
It's worth doing some research. Do you already know what type of apartment you want to buy? Do you have a specific area and budget in mind?
Your first port of call for your search is the internet. With one click, you can get an overview of the available properties and get a feel for "your" condominium.
Here are some popular real estate portals:
Siam Real Estate – Siam Real Estate offers you the latest real estate listings.
FazWaz – FazWaz is a great resource for new and existing construction projects.
Once you have done this, it is time to seek the help of a law firm in Chiang Mai.
Your real estate agent
In Thai culture, reputation and saving face play a vital role. A trustworthy agent is your language and cultural mediator and worth their weight in gold.
A competent real estate agent is familiar with both existing properties and future construction projects. They have a broad network throughout the city.
A reputable real estate agent acts in the best interests of both you and the seller.
An efficient real estate agent saves you time and money.
Once you have an idea of what you're looking for in your future apartment in Chiang Mai, your real estate agent will get to work. They will review your existing search results and, by asking targeted questions, can eliminate suitable properties or suggest unlisted alternatives.
Your real estate agent can arrange viewings and provide you with information about buildings, developers, property management companies, and the surrounding area. They will act as an interpreter between you and the sellers to assist with price negotiations and purchase terms.
Keep in mind that a real estate agent is not a lawyer. While they will help you find the perfect property, you should never sign anything before consulting a lawyer.
Your real estate lawyer (lawyer for notary services)
If your agent is worth their weight in silver, then your lawyer is worth their weight in gold. A trustworthy law firm saves you time, avoids hassle, and helps you avoid potential financial losses or legal disputes.
These are the experts. A reputable law firm will remain impartial within the framework of the law and protect your interests.
What does your lawyer do?
During the purchasing process, they will:
Unlike contracts in Western culture, which are dry, detailed, and numerous, many contractual agreements in Thailand focus on the relationship between buyer and seller. One could describe it as a "gentleman's agreement" or a "handshake agreement."
Unfortunately, this means they may be omitting important terms or clauses. Your lawyer will translate the most important terms for you and advise you on which ones you should include for your protection.
In any real estate transaction, money is the most important aspect. We will explain this in more detail later, but your notary will confirm what costs are due (including land registry fees, late payment fees, and other charges), who bears the costs and charges, and how payment will be made (payment schedule).
Your lawyer will ensure that all payments and timeframes are fair for both parties and will carefully review all hidden or ongoing costs with you.
Your lawyer will hand over and receive all relevant documents at the time of settlement. They can then act as your contact person at the Thai Land Registry to register and submit all documents and pay the fees and taxes according to your contract.
A trustworthy law firm can help you look to the future.
What happens in the worst-case scenario of your death?
We often draw up a will in our home country to secure our assets in the event of our death. Thailand does not recognize foreign wills, and they can be contested in court.
Your law firm can assist you in drafting a will that is legally valid in Thailand. While this is not part of the purchase process, it is an important aspect that is often overlooked when it comes to protecting assets and providing for spouses or dependents.
Where does the money go?
Your real estate agent has found the perfect condominium for you and helped you negotiate a purchase price.
Your lawyer has conducted the necessary due diligence and deemed the property acceptable. What happens next?
First, you should be aware that as a foreign investor, you must provide proof that your purchase funds originate from abroad.
All funds must be in foreign currency and have clear proof of the origin of the funds (withdrawal from the originating bank), the purpose of the funds (purchase of a condominium) and proof of currency conversion in the recipient's Thai bank account (foreign exchange form).
Your contract lists the amounts and deadlines for all payments. This includes the deposit, the remaining balance, any applicable government fees and taxes, and the respective payers.
A deposit is due upon signing the contract. This is usually 10–15% of the purchase price, but can also be up to 25%.
The remaining purchase price is due at the time of settlement, unless otherwise agreed in the payment plan.
When buying apartments in new construction projects off-plan, the payment schedule may differ, with several payments due at specific construction phases.
The official fees are paid upon registration in the land registry. The amount of the fee depends on the value of the property.
When calculating government fees and taxes, a property is assigned three different values:
Transfer fee: 2% of the registered property value
Stamp duty: 0.5% of the registered value. Only payable if exempt from trade tax.
Withholding tax: 1% of the market value or the registered sales value of the property (whichever is higher if the seller is a company). If the seller is a private individual, the withholding tax is calculated progressively based on the market value of the property.
Business tax*: 3.3% of the market value or the registered sales value of the property (whichever is higher). This applies to both private individuals and companies.
This tax is payable if the property has been owned by the owner for less than 5 years, which is often the case with new construction projects.
Who pays?
Where can you buy things (in Chiang Mai)?
In and around Chiang Mai, there are numerous new and recently completed construction projects. Below is a list of some of the best residential areas and information about the specific features of your neighborhood.
Nimmanhaemin/Suthep/Chang Phueak
Nimmanhaemin is known for its vibrant nightlife and convivial atmosphere, which revolves around the eponymous Nimmanhaemin Road.
Cozy restaurants serving northern Thai cuisine mingle with trendy cafes, bars, and live music lounges. Boutiques can be found in the modern shopping centers Think Park, One Nimman, and Maya Lifestyle.
On your journey up the mountain to Doi Suthep/Pui National Park and Wat Phra That Doi Suthep you will pass Chiang Mai University (CMU), a lively student market and Chiang Mai Zoo.
Nimmanhaemin and Chang Phueak are the most popular development areas with modern complexes offering top-level amenities.
The next Jed Yod
Completion: November 2020. Units: 78. Developer: Ornsirin Group. Price range: €2,200,000 – €5,100,000
This minimalist residential complex in Art Deco style is characterized by its beauty and timelessness.
The project combines classic charm with art and offers modern, functional facilities that cater to the lifestyle of urban residents. Amenities include a swimming pool, a gym, a lush garden, and a 24-hour video surveillance system.
Stylish Chiang Mai – Suthep
Completion: Dec. 2014 Units: 99 Developer: Siam Real Estate Price range: €3,000,000 – €10,800,000
Exclusive living amidst the Lanna culture. Elegant architecture blends seamlessly with modern design. The interior is designed for optimal use of space.
The project is equipped with high-quality furniture to make residents feel comfortable and offers a wide range of facilities to fulfill the residents' most beautiful moments, including a large outdoor pool, a gym, a communal garden, an excellent security system, etc.
Palm Springs Nimman – Suthep
Completion: February 2018 Units: 96 Developer: Palm Springs Place Co., Ltd. Price range: 3,000,000 – 4,500,000
A stylish residential project in a prime location in Suthep allows you to enjoy your most beautiful moments in life while conveniently reaching many destinations.
Surrounded by modern amenities, well-known shopping centers, educational institutions, hospitals and lifestyle centers.
"Palm Springs Nimman" offers relaxation opportunities and a high degree of privacy. Amenities include a saltwater pool, a lush garden, a gym, and a 24-hour video surveillance system.
Tha Thasala/Fa Ham
The east is the gateway to the beautiful mountain regions of Mae Kham Pong, the umbrella market of Bo Sang, and Doi Saket. It is an older area that offers a rich cultural experience with its museums and local cuisine.
It is also the current showcase area for new construction projects behind the Central Festival shopping center. Two complexes are being built there, offering the opportunity to purchase apartments even before construction begins.
The Spring Loft – Fa Ham (under construction)
Completion: October 2022 Units: 43 Developer: NTS Property Co., Ltd Price range: €2,500,000 – €6,000,000
A project in classic/modern colonial style. Lush, open gardens welcome residents all year round.
With varying room layouts and sizes, the architect offers a multitude of design options that residents can adapt to their preferences. The kitchen is open-plan and equipped with modern appliances.
Classic and bright. Large windows let in sunlight in the morning and offer a lovely view of the garden. Communal areas also include an outdoor pool, a gym, a jogging track, a coworking space, and a 24-hour video surveillance system.
The One Chiang Mai – San Sai Noi (under construction)
Completion: December 2022 Units: 760 Developer: Maya Chiangmai Co., Ltd. Price range: 2,500,000 – 5,000,000
"The One Chiang Mai" is a residential development project in San Sai Noi, scheduled for completion in December 2022. It comprises 760 residential units across 8 floors and is being developed by Maya Chiangmai Co., Ltd.
“The One Chiang Mai” combines all living functions in one place and offers you comprehensive service in a modern style to permanently improve your quality of life.
Modernly furnished and situated in a quiet suburban location amidst lush green nature, it offers an atmosphere of peace, security and privacy.
The project offers first-class facilities, including a swimming pool, an outdoor terrace, parking spaces, a gym, a playground and a 24-hour security service.
The rooms are furnished*. They are tastefully decorated and exude a pleasant fragrance throughout your stay.
The One Chiang Mai is located in close proximity to important places such as the Central Festival, Bangkok Hospital Chiang Mai and Chiang Mai Airport, and is only 7 kilometers from the old city.
This is particularly important when buying new-build properties. Not all new apartments are sold furnished. Many developers offer a furnishing package that can increase the purchase price by up to €100,000. It is advisable to discuss this with your real estate agent during negotiations and with your lawyer when reviewing the contract.
The Nine Condominium – Tha Thasala
Completion: Dec. 2019 Units: 23 Developer: The Nine (Thailand) Co., Ltd Price range: 3,700,000 – 8,800,000
This luxurious residence is situated in a highly desirable location, surrounded by numerous well-known attractions, including Makro (Chiang Mai), Warorot Market, Chiang Mai Promenade, MT Intermed Hospital, and various supermarkets and restaurants. Chiang Mai International Airport is just a short drive away.
The “The Nine Condominium” is equipped with facilities such as a swimming pool, a fitness center, parking spaces and a 24-hour security system, thus offering the highest level of comfort.
Wat Ket/Chang Khlan
Green Tree Condo – Wat Ket (under construction)
Completion: December 2022 Units: 295 Developer: Navasahatsawat Company Price range: 1,700,000 – 4,500,000
A comfortable living environment where you feel right at home. Designed as the perfect living space that makes optimal use of every square inch of your room.
High ceilings, built-in furniture, and a full range of electrical appliances underscore a design that makes your life easier. Thanks to home automation, you can conveniently control everything via a smartphone app.
It also offers a relaxation area, a lobby, an infinity pool, a fitness center, and gardens. Everything is designed to allow you to relax with a beautiful 360-degree panorama.
The Astra – Chang Khlan
Completion: Oct. 2017 Units: 589 Developer: Ornsirin Group Price range: 2,800,000 – 10,000,000 (Penthouse – 18,500,000)
This luxurious apartment building in Chiang Mai embodies the concept of "The Pearl of the North" and combines the charm of Lanna with modern, contemporary design to create a simple elegance.
Located southeast of the old town, it is in close proximity to leading shopping centers, the airport, educational institutions and hospitals.
The outstanding architecture raises the quality of living to a level that meets all urban lifestyles and offers, among other things, an infinity pool, spa & sauna, gym, meeting rooms, a kiosk library and a 24-hour security service.
The residents can relax as if they were at a holiday resort.
Arise Condo in Mahidol – Pa Daet
Completion: March 2020 Units: 380 Developer: Ornsirin Group Price range: €2,000,000 – €2,500,000
Luxury living south of the old town in the Mahidol district.
Surrounded by numerous attractions such as Wiang Kum Kam, the art and culture center of Chiang Mai, and the Central Airport shopping mall, the area offers everything for a comfortable and pleasant life, including various markets such as the Mueang Chiang Mai Market and the Sunday Night Market, as well as first-class restaurants.
“Arise Condo” offers comprehensive amenities, including a pool, gym, clubhouse, parking spaces and 24-hour video surveillance.
Old Town/Si Phum
Glory Boutique Suites
Completion: April 2020 Units: 44 Developer: CN Sure Co., Ltd Price range: 2,300,000 – 5,900,000
A luxurious 5-star condominium, inspired by colonial-style architecture and combined with Lanna-style elements. The project boasts an appealing, modern ambiance and comes fully furnished.
Located in the heart of Chiang Mai, north of the old city, the building is in close proximity to numerous amenities such as the Chang Phuak Gate, the Siri-wat Tana Market (Tha-Nin Market), the Kad Suan Kaew Shopping Centre, the Singapore International School Chiangmai, Chiang Mai Rajabhat University, and the Chiangmai Ram Hospital. It is nestled among trendy cafes and restaurants.
This complex offers something for every lifestyle and features a lobby, a pool, parking, and 24-hour video surveillance. A special highlight is the on-site restaurant and bar on the rooftop.
Glory Condominiums – Chang Phueak/Santitham
Completion: Dec. 2021 Units: 45 Developer: CN Sure Co., Ltd Price range: 1,700,000 – 5,400,000
"Less is more. Simple, yet luxurious." is the concept behind this complex.
Ideal for modern living, equipped with elegant furniture and household appliances to suit all living styles.
The Glory Condominium offers comprehensive amenities such as a swimming pool, a fitness center, parking spaces and a 24-hour security system, and is located close to some of the best shopping, dining and nightlife options in Chiang Mai, without being overwhelmed by the tourist crowds.
Offices of the County Administration (including address)
Even though a reliable real estate lawyer will assist you with the purchase and registration of your property, it's helpful to know the location of your local land registry office. Here you'll find a list of land registry offices in Chiang Mai and their contact information.
Chiang Mai Provincial Land Registry
Address: ศูนย์ราชการ, Chotana Road, Mueang Chiang Mai District, Chiang Mai 50300 Opening hours: Mon-Fri 8:30 a.m. - 4:30 p.m. Telephone: 053 112 983
San Sai branch
Address: 276 หมู่ 4 Nong Chom, San Sai District, Chiang Mai 50210 Opening hours: Mon-Fri 8:30 a.m. - 4:30 p.m. Telephone: +6653352880 Web: www.dol.go.th
Doi Saket branch
Address: 164 M. 1, Chiangmai-Sanpasak Rd. No.118 rd., Chengdoi, Doi Saket, Chiang Mai 50220 Opening Hours: Mon-Fri 8:00 AM – 4:30 PM Telephone: 053-495-512 Website: www.dol.go.th
Saraphi branch
Address: 242 Moo 4, Chiang Mai – Lamphun Road, Tambon Nong Phueng, Amphoe Saraphi, Chiang Mai, 50140 Opening Hours: Mon-Fri 8:30 AM – 4:30 PM Telephone: +6653321694
Hanging Dong branch
Address: Hot Road, Hang Dong, Hang Dong District, Chiang Mai 50230 Opening Hours: Mon-Fri 8:30 AM – 4:30 PM Phone: +6653426180
Real estate lawyers
If you want to buy your dream property in Thailand, sound legal advice is essential. A qualified real estate lawyer familiar with Thai law will advise and support you throughout the entire purchase process and take care of all the formalities.
Siam Legal is a registered law firm with over 16 years of experience in real estate law. The team maintains offices in the major metropolitan areas of Bangkok, Chiang Mai, Pattaya, and Phuket and is intimately familiar with each region.
You can contact the Siam Legal office (Chiang Mai) at the following address:
Address: Curve Mall, 2nd Floor, Rooms C219-C220, Chang Klan Road 215/2, Mueang, Chiang Mai, 50100 Opening Hours: 9:00 AM – 6:00 PM Telephone: +6653818306 Website: www.siam-legal.com
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