Apartment building & house For Sale Chiang Mai Old Town, Near Wat Phra Singh "Walking Street" ฿77,000,000 ฿50,000,000/233 Sq. wah

Apartment building & house For Sale Chiang Mai Old Town, Near Wat Phra Singh "Walking Street", Suan Dok Gate

If you are looking for land and buildings in a prime location in the middle of Chiang Mai City. This is an opportunity you shouldn't miss! Land and buildings are in the Pratu Suan Dok moat area. This is considered an important and convenient area to travel to.

 Property details 

- Land size: Total 4 title deeds, size 932 square meters.
- Title deed chart: light brown
- Buildings: Consists of 3 buildings (dormitory building, residence, multi-purpose residence) and swimming pool.
- Current use: Originally a 40-room building, the ground floor is now converted into a residence.   The newly built house has 4 bedrooms, 4 bathrooms, 1 dining room, and 1 kitchen.
- Parking: Can Park 4 cars.

 Location 

This land is in a location that can be called the heart of Chiang Mai. Whether it's a 7-minute ride to Chiang Mai Airport (3.7 kilometers) or trips to important locations such as Wat Phra Singh and Suan Dok Gate. Located just a few steps away. This makes it a land with high potential for both living and investment development.

 Why should you buy this property? 

1. Prime location, excellent location: in an area of historical and cultural importance in Chiang Mai.
2. Convenient travel: Can travel to the airport and other important places easily.
3. Development opportunities: Land and buildings can be adapted for a variety of uses. Whether it is a residence, hotel, or commercial building.

 Important locations around 

1. Suan Dok Gate

    - Distance: Just a few minutes' walk from the land.

    - Importance: It is one of the old city gates of Chiang Mai with a long history. It's a good starting point for exploring Chiang Mai's old city.

2. Wat Phra Singh Woramahawihan

    - Distance: about 1 kilometer

    - Importance: Wat Phra Singh is one of the most important and famous temples in Chiang Mai. There is an important Buddha image, namely Phra Singh, which is a valuable Buddha image.

3. Chiang Mai International Airport

    - Distance: approximately 3.7 kilometers

    - Transportation: It only takes about 10 minutes by car. Makes it convenient to travel both within and abroad.

4. Nimmanhaemin Road

    - Distance: about 2 kilometers

    - Importance: Nimmanhaemin Road is the busiest area in Chiang Mai. Filled with shops, restaurants, cafes, and entertainment venues, it's ideal for shopping and socializing.

5. Chiang Mai University

    - Distance: about 3 kilometers

    - Importance: Chiang Mai University is a leading educational institution in the northern region. It has quality teaching and is a center of research and development.

6. Maharaj Nakorn Chiang Mai Hospital

    - Distance: approximately 1.5 kilometers

    - Importance: It is a large and important hospital in the northern region. There are comprehensive and modern medical services.

7. Warorot Market

    - Distance: about 3 kilometers

    - **Importance:** Warorot Market is a market that has a variety of products, from food, utensils, clothing, and local souvenirs. This is a popular destination for tourists and locals alike.

8. Nong Buak Hat Public Park

    - Distance: about 2 kilometers

    - Importance: It is a public park with a large area. There is a shady atmosphere. Suitable for relaxation and outdoor activities.

The location of this property is convenient for traveling. But it is also an area of historical, cultural, and social importance in Chiang Mai. This makes the land, and buildings have a high potential for development and is an opportunity that should not be missed. For those who want to invest or are looking for housing in the best location in Chiang Mai.

Please let me know if We can do more to support this, feel free to contact us or welcome to our  office Paul&Esther Real Estate @ 89 Plaza ChiangMai   or call to us.                         

Mr. Paul Chuenchai       Mobile   087-300-5078   
Ms. Esther Chuenchai    Mobile   085-614-8205
Mr.Kanong (Deang)       Mobile  063-589-1419
Office RealtorChiangmai Mobile  093-032-3738 

By Paul&Esther Real Estate Co., Ltd
@ International Realtors Association (USA) REALTORS
@ IEA Institutet of Estate Agents, Singapore Mr.Paul (MR.Bhumarin Chuenchai) / M’ship No: L00035 Certified Course in Marketing of Foreign Properties  (CCMFP; Thailand, Singapore, Malaysia, Indonesia, Philippine, Japan, China, Australia, New Zealand, India, and the United Kingdom)
@ Thailand RESAM ( Thai Real Estate Sales and Marketing Association)

MORE INFORMATION Welcome to our  office Paul&Esther Real Estate @ 89 Plaza ChiangMai       and feel free for our consult.

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Metric System-Land Measurement

The Metric System was adopted in 1923 BUT old Thai units of measurement are still commonly used. "Talang". "Wah" and "Rai" are most commonly used. Talang means square. 1 Talang equals 1 square meter.

Converting units of measurements like "Rai" and "Wah" can be quite complex - may create legal issues.

Caution - know what you are buying based on Thai units of measurements.

THE MEASUREMENTS USED FOR LAND IN THAILAND
In Thailand, Land is measured in Rai, Ngan and Sq.Wah.
1 Rai = 4 Ngan or 1600 Sq.m.
1 Ngan = 100 Sq.Wah  or 400 Sq.m. or 4,304 Sq.ft.
1 Sq.Wah = 4 Sq.m. or 40 Sq.ft
1 Acre = 2.53 Rai  or 43,535 Sq.ft
1 Hectare = 6.25 Rai
Land prices are usually expressed in Baht per Rai or Baht per Sq. Wah. 

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Tenures (Title Deeds): Chanote Or Nor Sor 4 Jor is most credible. Highest land Title - grants full rights over the property. Properties were surveyed in accordance with the national survey grid and properly marked.

House Book (Tabien Bahn)
A Ta. Bian.Baan or Tabien Bahn (house book), issued by the Thai government via their local municipality. It links a person having their domicile to an address and is Not proof of Ownership of Properties.
Two (2) types of Tabien Bahn: Bluebook (Thor. Ror.14) for Thais; Yellow book (Thor. Ror.13) for Foreigners.

Foreign Ownership of Real Estate
Thailand Land Code, Sect 95, Foreign investors bringing in or investing THB 40 million (USD1 million) into Thailand can acquire land with a freehold title (not coastal property) for personal use, not exceeding *1 Rai (1,600 sq.m) to be approved by the Minister.
Condition:
(1) Type of business in which foreigners invest that will economically and socially benefit the country or which is declared by the Board of Investment as eligible for the application of the investment promotion under the law thereon.
(2) The period of maintaining the investment shall not be less than three (3) years.
(3) The land that the foreigners may acquire shall be within the locality of Bangkok Metropolitan Administration, the City of Pattaya, Municipality, or the zone designated to be the residential area under the law on city planning.

Freehold Ownership
If you are buying a Freehold title property, you will need to form a Company. You can be a Director of the company that holds the title to the property with complete control. When a foreign national has invested (USD$1 million) in stocks, securities, or companies, and has Board of Investment (BOI) approval, the BOI may recommend that the foreign national be permitted to hold a freehold title not exceeding an area of 1,600 sq. m.

Leasehold Ownership
Buying a Leasehold property means that you are getting a 30 Years Lease but in practice, Leaseholds can be obtained for a 60 year period using the “30+30” mechanism, whereby a 30-years lease is agreed upon between the freehold titleholder and the lessee, which includes a legally binding extension contract for a further 30-year period.
Except under special circumstances, foreigners or foreign juristic entities may not own land and are limited to ownership of 49% of condominium units as defined by the Condominium Act of 1999.

Other Types of Properties (less popular)
Any Lease or Tenancy exceeding 3 years must be in writing and recorded on the land ownership title deed.
Any lease or tenancy longer than *3years must be registered with the Provincial Land Department, otherwise, it cannot have any legal effect.

Leasehold Period & Extension
Though Leasehold Tenure is generally 30+30, there are also Leasehold Tenure of 75 and 103 years.
For Example Mahanakorn Ritz Carlton initially sold their units with 103 years’ Leasehold. A year later, the Developer purchases the Freehold land. The Developer decided to sell the units as freehold land. Buyers who had previously bought units under have them converted to Freehold by topping up a certain percentage of money.

Foreigners can purchase condominiums or apartments without exceeding the quota of 49% of foreign ownership. Funds must be brought in externally for property purchases. A *Tor Thor 3 or Tor Thor Sam document or a Foreign Exchange Transaction Form from a Thai bank is required as proof of funds being transferred externally for property purchases by foreigners.

* Buyers must secure a Tor Thor 3 or Tor Thor Sam document or a Foreign Exchange Transaction Form as proof of their remittance or international transfer of funds (better in Thai Baht) for the purchase of the property. Buyers are required to bring this document to the Land Department when effecting property transfer.

* Foreign Buyers can acquire Leasehold land for a period of thirty (30) years with renewal for another thirty (30) years.

Each condominium shall have aliens or corporate as indicated under Section 19 holding ownership in the units collectively not exceeding forty-nine (49%) percent at the time of registration.

A joint venture formation; Special Purpose Vehicle (SPV) makes it possible for foreigners to acquire houses and land.

For an SPV, a max of up to *two (2) foreigners can be shareholders with the majority of the rest (51%) being Thai.

* Thailand Land Code, Sect 95, Foreign investors bringing in or investing THB 40 million (USD1 million) into Thailand can acquire land with a freehold title (not coastal property) for personal use, not exceeding *1 Rai (1,600 sq.m) to be approved by the Minister.

Condition:

(1) Type of business in which foreigners invest in that will economically and socially benefit the country or which is declared by the Board of Investment as eligible for the application of the investment promotion under the law thereon.

(2) The period of maintaining the investment shall not be three (3) years.

(3) The land that the foreigners may acquire shall be within the locality of Bangkok Metropolitan Administration, the City of Pattaya, Municipality, or the zone designated to be the residential area under the law on city planning.

Upfront Cost & Payment Schedules

Transfer Fee / Agent's Fee Transfer fee may also be split between a Buyer / Developer or between a Buyer / Private Seller in a Resale.  (Private negotiations.) Agent Commission - Usually 3% for Sales / For Rental, it is usually one (1) month's commission for a One (1) year tenancy. 

How to inspect land through Paul&Esther Real Estate?
1. Due diligence on the property.
1.1 Check the property title, tenure, location, features, and amenities.
1.2 Ascertain the details and specifications of the property, and get a better knowledge and understanding of the property and its surroundings by visiting the site.
1.3 If engaging third parties to do due diligence, ensure that the third parties are qualified to perform due diligence.
2. Due diligence on claims
The Conduct due diligence checks on claims related to the property

MORE INFORMATION welcome to "REALTORCHIANGMAI OFFICE" and feel free for our consult.

If you are interested in this property, do not hesitate to contact us to arrange a viewing or request further information.

This Property for sale is in area of  Chiangmai Map Zone1: Chiangmai Old City 

@ Sunday Night Walking Street Market  Chiangmai
@ 200 temples (inside the Chiangmai Old town)
@ Culture Museums Network of Chiangmai
@ Cafe De Museum
@ Nong Buak Hard Public Park  Chiangmai ( Buak Hat Park)
@ Statue of the three kings Chiangmai