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Learn more about the Koh Samui house market through trends and average prices.
Owning a house is a dream for many people, and Koh Samui is a popular location for those looking to buy property. While there are some restrictions on foreigners owning land in Thailand, it is possible for foreigners to buy houses in Koh Samui. There are a number of factors to consider when purchasing property in Thailand, such as the type of ownership, the location of the property, and the price. Houses in Koh Samui are available for sale from a number of sources, including real estate agents, developers, and private sellers. It is important to do your research before buying a property in Koh Samui to ensure that you are getting a good deal. With careful planning and research, you can find the perfect house for you in Koh Samui.
Yes, you are allowed to own a structure on land in Koh Samui. There are many houses for sale and you can buy them through a real estate agent. You may also be able to find some good deals by contacting the owners directly. If you are interested in buying a house, you should definitely consider Koh Samui as an option. The island is beautiful and there are plenty of activities to keep you busy. Plus, the prices are very reasonable. So, if you are thinking about buying a house, Koh Samui is definitely worth considering.
Houses in Koh Samui are offered for sale with what is called a Sinking Fund and Maintenance Fee. You will often see Houses advertised as ‘For Sale including Sinking Fund and Maintenance Fee’. So, let’s understand first what these 2 charges cover when you buy a house in Koh Samui.
The Sinking Fund is a sum of money that the developer collected from the buyers during the construction period of the project. Once the project is completed, this fund will be used for maintaining common areas in the housing estate such as gardens, swimming pools, clubhouses, etc.
The amount of each unit owner’s portion to contribute to the Sinking Fund is specified in the sales and purchase agreement (SPA). The funds will be jointly managed and operated by all unit owners through an on-site management company set up by the developer or an association of owners formed after the handover of possession. The on-site management company will have full power and authority to make expenditures from time to time on behalf of all unit owners for maintaining all facilities/equipment within the housing estate in good condition. With this arrangement, all unit owners can have peace of mind that their houses are well-taken care of even after the handover of possession.
The Maintenance Fee is a monthly charge to be paid by every unit owner for maintaining all facilities/equipment within the housing estate in good condition. In addition, it also covers employees’ salaries (including security guards), operational costs, repairs & replacement of broken items, etc. The monthly Maintenance Fee is also specified in the sales and purchase agreement (SPA). This fee shall be paid by every unit owner to the on-site management company which has been set up by the developer or an association of owners formed after the handover of possession.
To sum up, buying a House in Koh Samui that comes with a Sinking Fund and Maintenance Fee gives you peace of mind knowing that your house is taken care of even after you have purchased it. These fees also help to keep the value of your property appreciated because common areas are well maintained. Therefore, it is important that you take note of these fees when considering purchasing Houses in Koh Samui.
Yes, you can purchase a house from overseas without coming to Koh Samui. There are many houses for sale that are advertised online. You can buy a house through a real estate agent or directly from the owner. If you are buying directly from the owner, you will need to have a contract drawn up. This contract should be in Thai and English. The contract should include the price of the house, the address, and a description of the property. You will also need to provide your passport and proof of income. Once the contract is signed, you will need to transfer the funds to the owner. The funds can be transferred through a bank or using a wire transfer service. Once the funds have been transferred, the ownership of the house will be transferred to you.
Whether or not you can rent out a house that you bought as an investment in Koh Samui will depend on a number of factors. First, you'll need to check the deed restrictions on the property. If there are no restrictions against renting, then you should be able to do so without any problem. However, if there are restrictions against renting, you may need to get approval from the homeowners association or the developer before proceeding. Secondly, you'll need to consider the demand for rental properties in Koh Samui. If there is high demand, then you should be able to find tenants relatively easily. However, if demand is low, it may be difficult to find tenants willing to pay the rent that you're looking for. Finally, you'll need to factor in the costs of maintaining the property. If the costs of repairing and maintaining the property are high, it may not be worth renting out. However, if the costs are low, then renting out may be a good option for you. Ultimately, whether or not you can rent out a house that you bought as an investment in Koh Samui will depend on a number of factors.