Pets are not allowed in ONE89 Wireless Bangkok

No, foreigners cannot buy a condo at ONE89 Wireless Bangkok, as it is a leasehold property. However, foreigners can lease a condo there on a 30-year leasehold basis. This arrangement allows foreign buyers to occupy and use the property for the duration of the lease, but they do not own the property outright.

ONE89 Wireless Bangkok is located near Lumphini MRT Station.

Lumphini MRT Station: About 350 Meter away or approximately a 5-minute walk

No, ONE89 Wireless Bangkok is a leasehold condominium. Units are offered with an initial lease term of 30 years, with the option to renew for an additional 30 years.

A condo, which is short for condominium, refers to an independently owned residential unit that is situated in a building or complex with other residential units.

The owners of these condos usually share common spaces and are required to pay association fees to ensure the upkeep of the shared resources, amenities, and common spaces (CAM Fees)

How to Buy a Leasehold Condominium in Bangkok:

Understand Leasehold Ownership In Thailand, leasehold ownership allows you to lease a property for a set period, usually 30 years, with the option to extend for an additional 30 years under the "30+30" system. Unlike freehold ownership, a leasehold does not provide ownership of the land or permanent rights to the property. Instead, you gain possession of the property for the agreed term.

Find the Right Property Look for condominiums offering leasehold agreements. These properties may include units in buildings where foreign ownership quotas (49% of total units) have been filled.

Review the Lease Terms Carefully review the lease agreement to understand the lease duration, renewal options, and any restrictions regarding subletting or modifications to the property. Make sure the contract aligns with Thai property laws and safeguards your rights as a leaseholder.

Negotiate and Sign the Agreement Discuss key terms, including rental fees, maintenance charges, and renewal conditions with the developer or landlord. Once satisfied with the terms, sign the legally binding lease agreement that outlines all relevant conditions.

Register the Lease To make the lease legally enforceable, it must be registered with the Thai Land Department. This process involves paying a registration fee (1.1% of the total lease value) and annual rental tax (12.5%). Ensure all required documents, such as identification and financial proof, are prepared for registration.

Payment and Financial Requirements Unlike freehold properties, you don’t need to transfer funds from abroad for a leasehold property. Make payments based on the agreed terms in the lease, including any upfront deposit or ongoing rental payments.

Legal Assistance Consult a lawyer who is familiar with Thai property laws to review the lease contract and ensure it complies with all regulations. Legal assistance is especially important if you plan to sublet or transfer the lease during its term (inheritance etc)

Additional Considerations Leasehold properties are generally more affordable than freehold condos, but they come with limitations regarding resale and long-term investment potential. Be sure to understand your rights and responsibilities for repairs, maintenance, and property management during your lease term.