Monday, 26 August 2013
Would you buy a house in Chiang Mai?
Would you buy a house in Chiang Mai is a common question asked around the local expat communities. As a foreigner you can not own a property out right. You used to be able to open a fictitious company and put the property in the company’s name, but those days are over.
Nowadays most people use a lease or a usufruct this gives them the right to live in the property for 60 years or life depending on the choice made. Both of these options are fully legal as long as you register them at the land office.
So the bottom line is, Yes, I would and have brought a house in Chiang Mai safe in the knowledge that I can sell the property if I so wish and that I have full rights to the land and the property for the duration of the lease.
For More information on this subject why not give Perfect Homes a call and speak to an expert!