Chaweng Ring Road

A busy thorough fare about one kilometer west of Chaweng Beach Road. Location for Lotus Tesco, Big C and Makro Wholesale stores. You will also find a Golf Driving Range and Shooting Range opposite Makro. Bandon Hospital and Bangkok Samui Hospital can both be found on the Ring Road with Thai Inter situated just off on a side road opposite Lotus Tesco.

There are two apartments for sale on the top floor of Citin Urbana, a recently completed apartment building. It is very conveniently located with all amenities within 10 minutes drive.

The facilities include 24-hour security, underground parking, CCTV, lift, public garden, fitness, restaurant and swimming pool among others.

The units are side by side and one of them is a corner unit.

The apartments consist of:

Key card entrance door

Separate bedroom

Bathroom with shower

Small balcony at the front of living area with view over the communal pool

Open space living area with kitchen corner and small table with chairs

Foreign ownership can be obtained but also available without Foreign Freehold at Baht 2,600,000.

What is a Foreign Freehold?

There are restrictions on Foreigners owning real estate in Thailand, specifically land. They are however permitted to own in their own name a structure on land. Full title to both land and house is therefore not easily possible.

The exception to this is provided by the Condominium Act 1979 which specifically allows foreigners to have a freehold interest in a Condominium unit in their own name. There are restrictions on the number of units in a building that may be owned by foreigners and only 49% of the space in a building may be so designated.

There are rules about how the Condominium must be paid for. The entire purchase price must be transferred into Thailand in foreign currency and converted to Thai Baht here. A Foreign Exchange Transaction Form will be issued and must be presented to the Land Office on registration of the purchase. This also allows the same amount to be transferred out of Thailand at a later date without tax implications.