It is no secret that Thailand’s real property market has become an economic hotbed for foreign property investors. Development projects increase each year as local supply tries to catch-up with international demand. Despite this, procuring property in the country remains to be an arduous task as foreign investors experience problems ranging from the mundane to the exceptional.

A general problem encountered by most foreign investor deals with the legal rules prohibiting them from owning real property within the country. Resort to alternatives such as leasehold and owning condominium units have been discouraged as these arrangements pale in comparison with the rights and privileges that direct ownership provides. Foreigners have noted the lack of security in lease agreements as extensions are entirely dependent upon the lessor’s own volition thereby making them susceptible to the latter’s whims and caprices. Moreover, the thirty (30) year limitation would seem to most as a short period of time considering the nature of the industries that usually rent or lease property. Concerns regarding the ownership of condominium units stray within the same lines as foreign investors are merely permitted to have interest in individual units and not on the land on which the condominium is built.

Another common problem encountered by foreign investors is the fact that some of the newly purchased properties do not come with certain specialized utilities. Of novel complaint is the lack of ready internet access within the immediate area where these properties are located. This problem may be resolved expediently by availing of the services of local providers who may offer alternative measures to remedy any perceived deficiency.

A more serious concern is the availability of translators who can accurately translate documents to English or to any other language. Documents such as title deeds, purchase and leasehold agreements are usually written in Thai and translations of these are quite uncommon. Some foreigners, such as those owning condominium units, were lucky enough to have purchased properties from entities that provide translated documents. But for a vast majority of foreign investors, resort to accredited translators or law firms providing translation services remain to be the most viable option.

An additional difficulty encountered is the availability of professional legal help as a number of foreigners have found it hard in finding a proper law firm to advise them. Buyers have encountered the situation where the counsel supervising the sale agreement is the same one representing the seller. Situations such as these may be remedied by inquiring in the internet or local telephone directory as major law firms have been known to provide free legal advice.

As a final concern, foreign investors have often been misled by the various titles and deeds used in the Thai legal system. Particularly, it is their lack of understanding of the varied degrees of interests over real property that these documents represent that has led to their misfortune. Common are the occurrences where a foreign investor has been misled into believing that possession of a particular title deed conferred right of ownership when in fact no rights were transferred. To be sure, professional legal advice should be sought in every decision regarding the transfer and titling of land.