Real Estate Opportunities On the Island Of Ko Samui, Thailand

Buying property on Ko Samui is a good investment of your capital, regardless of the purpose of the purchase: for your own residence or for investment with an eventual sale. Today there is a wide variety of Ko Samui properties for sale ranging from multi-bedroom luxury villas to small cottages and condominiums. In other words, the island provides properties of different types to suit any taste and need. If you want to have your own home on the resort island, explore the world of real estate in Ko Samui.  

About the island of Ko Samui 

An island untouched by man, Samui has become the second tourist destination in Thailand, after Phuket. The island has 34 beaches filled with white sand for those who love beautiful tans, and if you are interested in the history and culture of Thailand, then you will be useful to visit the temple of Wat Phrai, above which rumbles a 12-meter golden statue of Buddha. Extreme vacation on the island is not difficult to find, because the beaches are adjacent to the wild jungle. 

Location of Ko Samui 

A comfortable way is an hour and a half flight from Bangkok to Samui. To date, there are three Thai airlines in this direction: Bangkok Airways, Air Asia, Nok Air. You can choose a flight that is convenient for you, because almost every hour planes take off in this direction.

And the way full of experience – by bus to Surat Thani, and when you arrive in the village, you take a speedboat and sail to Samui. It takes you 15 hours.

Real estate for sale in Ko Samui

Purchase of any type of real estate on the resort island is a sensible investment. This rational decision will help you to get a huge income, to say nothing of owning a home abroad. After all, at any time of the year you can go there, and you do not have to spend time and money to find a home. In addition, it is ideal for those who work remotely. What you need to focus your attention on and how to buy a house, we will tell you step by step in this article.

Ways of buying real estate in Ko Samui

Roughly speaking, there are two ways of buying real estate on the island in Thailand. Any foreigner has the right to perform all the steps themselves and be responsible for every detail, or address the real estate agency and work in cooperation with a professional agent. Both options are available and have their benefits and drawbacks. Let`s have a closer look at each procedure. 

Purchase of real estate in Ko Samui by yourself 

The government of Thailand has outlined four ways to become a house owner for foreigners. 

  • Rent for a Thai citizen 

This option is suitable for those who are not ready for the responsible process of re-registering your property. Here it is a little easier. The only important step will be to register the lease with the Land Department, so that there is legal force. In this case, the costs will not be so huge, and you only need to pay the registration and stamp duty. You can rent such a house for a period of 30 years with the possibility of two extensions. In total, the lease will be for 90 years. 

  • Secured lease for a Thai citizen 

There are plenty of people in Samui who will be able to give you a plot of land or a house as collateral. This type of real estate ownership is also registered with the Land Department in order to be legally enforceable. Please note that only the owner has the right to mortgage the land. The lessee does not have such a right.

  • Buying real estate on mortgage 

The Thai law imposes some restrictions on foreign investors as they cannot directly arrange a housing unit on mortgage. However, some schemes do exist. Since the banks in Thailand are forbidden to grant mortgages to foreign visitors, you can arrange it in the developers. Selling property on Samui in this way is possible at different stages of construction.

Standard installment payment without interest is carried out during the construction period (about 2 years). Paying the entire cost is not necessary. It is recommended to pay 50% of the full price, which can be paid during the construction. The balance should be paid in the next five years (with 5-7%). So the installment will be a maximum of seven years.

  • Performing a transaction from a foreign bank account 

Having any financial difficulties on the island or with your Thai bank account, it is possible to pay for a real estate offer from your foreign bank. As a rule, the government does not track the location of a transaction as they are highly interested in foreign investments. 

Purchase of real estate in Ko Samui with the help of real estate agency

The procedure of real estate purchase in cooperation with an experienced agent gives an opportunity to perform a deep examination of a chosen object and avoid any difficulties. Thailand-Real.Estate represents a wide selection of high-quality profitable properties from popular agencies and famous developers. 

To describe it briefly, the process of purchase consists of the following steps: 

  • Selection of an object 
  • Negotiations with a seller 
  • Signing an agreement at the law office
  • Checking the documents of both sides
  • Making a deposit 
  • Providing proofs of ability to pay the whole value of an object 
  • Obtaining a Chanot or a title deed.  

Key points to remember 

Having visited the island of Ko Samui in Thailand, it is difficult not to fall in love with its pristine nature, breathtaking landscapes, and welcoming locals. For this reason, many foreigners consider buying real estate on the island as a wise investment. The destination offers a huge variety of housing units as well as several official ways to become their owners.