For those looking to buy property in Chiang Mai and Thailand, these are the general rules for foreigners:
Foreigners can own Condos, however a Condo building can only have up to 50% of units that are owned by foreigners.
Foreigners cannot own land. However, they can own a house on the land as part of a leasehold agreement. If you have a Thai Limited Company, the company can own land/property on your behalf.
Always consult a reputable real estate lawyer when purchasing property.
For more details please see these articles below:
Many people living in Chiang Mai and Thailand take the option of renting houses and/or Condominiums. Generally rents are cheap compared to other countries and in regards to the value of the house/condo. Anyone can rent in Thailand, but we would advise looking around and checking a few houses. It is a renters market, so you don't need to rent the first place you see.
A couple of things:
You will need to put down between a 1-3 month deposit when renting a place. The Landlord will deduct a damages from this at the end of the contract. Most landlords are good, however there are a few that will make up costs so they can take money off of deposits.
Our advise: 1, Take photos of any damage in the house/condo when you start renting, 2, Make sure you get a rental contract in English and Thai, 3, Use a reputable real estate agent and/or get recommendations from people who know good landlords.
Read this article for more information.
Below are a few of the bigger/more reputable Real Estate Companies (These are not necessarily our recommendations)
Perfect Homes has a good reputation in Chiang Mai and is owned by a British man and his Thai Wife. Professionally run, they deal with both renting and purchasing property. They have a full range of properties all over Chiang Mai, however generally they have more Condos and higher end houses.
Office Phone: 053 245 055
Mobile: 061 267 5111 (English) / 065 115 5512 (Thai)
WhatsApp: +66 612681999
Line ID: @perfecthomes
Email: info@perfecthomes.co.th
Mae Rim property specialises in property in the Mae Rim area (Where Prem is located). Prem has a long history of working with Mae Rim Property to find houses/condos for our community members.
Tel. 086-924 2692
E-mail: info@maerimproperty.com, maerimproperty@hotmail.com
DD Property is one of the biggest real estate companies in Thailand, selling and renting property all over Thailand. The website has probably the widest variety of houses/condos in Chiang Mai, across all districts of Chiang Mai.
They have mobile Apps and a very professional website.
All the information can be found on the website below.