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Commercial Condominiums in Thailand

Transcript of the above video:

As the title of this video suggests, we are discussing so-called commercial condominiums here in Thailand. This could be stated to be something of a misnomer but basically what we are talking about here, and this is not as frequent as it once was, in the past, a lot of developers would do commercial property development along the lines that the property was going to be sold as essentially condo units. It is a building; it has a Juristic Person; it has common areas and the spaces could be bought. Now if it comported with the provisions of the Thai Condominium Act, with respect to freehold foreign title, it might be possible that a foreigner could own that particular property notwithstanding the fact that they are in fact a foreign national. 

Again Thai Condos are often exclusively seen in the context of residential property. They don't necessarily have to be. Again, it is going to depend on the legal framework under which they were developed; it is going to depend if they maintain their compliance but it may be possible to purchase a condominium that in all respects is a commercial unit, although in theory you could live in a place that is otherwise occupied by you know commercial units. Again it is going to be very dependent, oftentimes on the Juristic Person. That is basically the Administrator of that given building, of that given condominium complex. 

So for those who are interested in so-called commercial condominiums, it is probably a good idea to contact a legal professional. Again, due diligence is going to be a major concern with respect to these especially for those foreign nationals who may be looking to gain some insight into this or to make a purchase of property that could be used for lack of a better term, in a commercial context but again this is all going to be very fact dependent. This is why frankly it is a good idea to gain some insight and guidance from a legal professional and especially conduct diligence so that one doesn't end up with a purchase that doesn't comport with their needs.