If you’re looking to buy a Chiang Mai condo in the highly prized “Punna”, you will find what you’re looking
for and then some. The Punna is a
community in a much sought after residential area in the popular Nimmanhaemin
Road area. This community was built by
developers who had a vision of creating a spot where you had everything you
needed within a close proximity.
If luxury is what you are looking for, there are condos in
The Punna which you can buy that have amenities that you could only imagine. The
location has many facilities, such as a pool, 24 hour security, sauna, business
centers, and every imaginable activity you could want to do within walking distance
or a short bicycle ride. It doesn’t get
much better than the Punna in Chiang Mai.
The Punna’s prices tend to be in the 4-10,000,000 Baht range
for a luxury spot in The Punna. If you
have a budget around this much or higher, you are sure to find some really
luxurious places to choose from. Condos
with full amenities offered, fully furnished with TVs, furniture, and in some
instances cable and internet already included.
Also in these luxurious condos have full kitchens and baths, a/c units,
access to The Punna’s private pool and local spas, gyms. If you do not need something
with so much space, there are studio condos for sale also. You can pretty much guarantee that if The
Punna is where you want to buy a condo, they will have something you are sure
to like.
When buying a condo in The Punna you should know that the
condo has restrictions on pets, on the ages children can use amenities, noise
restrictions, limitations on use of the recreational equipment the condo units
have, restrictions on parking vehicles and more.
Being sure to read through all these will keep you from
rushing to sign something that looks perfect only to find out there are so many
rules and restrictions that you wouldn’t have bought it if you had read it
first…so READ those restrictions lists.
It’ll save you a lot of headache later on.
There are several fees that you will have to pay or
negotiate with the seller to share with you.
Those are stamp duty, transfer fee, withholding tax, and business
tax. Typically, these are all split
50/50 which is the standard practice in Chiang Mai. When negotiating the price on your condo
purchase, be sure to include this in your contract, so you how much you have to
pay.
Buying a condo in The Punna is possible for foreigners, and
it’s not overly complicated, but you just need to make sure that you know
exactly what is expected of you so it goes smoothly. These purchases are cash purchases, so you
will need to have the money in full in advance and not plan on making payments
or financing like you do in the US.
Buying a condo is an exciting event, just be sure to read everything
BEFORE you sign so there are no surprises later.
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