What Defines A Condo?
13 replies to this topic
Posted 2012-09-23 01:18:50
In a condo units are sold. Buyers own the space within the walls of the unit. Building would be registered as a condo with separate titles/chanotes for each unit. Number of floors, units, common area don't have anything to do with it. A condo could have three units on three floors or 200 units on 20 floors.
Posted 2012-09-23 01:42:32
Basically my understanding is that a "condo" is anything that the developer decides and registers it to be. I don't know if you were thinking what I have been thinking, but I always thought that someone should buy/build Thai style shophouses, register each floor or whatnot as an individual unit, come up with by-laws, and then sell it to a Falang and Thai wife. Then the Falang would have partial (legal) ownership to protect his rights.
Alternatively someone could build 3 shophouses together as one building, register it as a condo, sell 2 of the shophouses to Thais and the Falang own one. If the number of rooms or shophouses that the Thai's own is more than 51% then the Falang can legally own the remaining 49%.
I don't know why anyone has not thought of doing this. It appears legal to me, and that way a Falang could have more space than a tiny condo. (BTW I have a shophouse in BKK that is 4 floors and that should be sufficient space for anyone.)
Posted 2012-09-23 05:13:00
I think this has actually been done. I have seen shophouse units for sale as condos (separate title). Basically I think you are correct in that its how the builder registers the building.
Posted 2012-09-23 05:35:26
hey thats a good idea about the split level ownership. I am considering either buying a portfolio of condos or constructing a high end condo unit 2 floors high, about 12 units. But wasn't sure if something this small could be considered a condo.
Kinda like the apartments in LA, which are more like a big house.
Posted 2012-09-23 05:46:57
Yes, exactly (that's what I was thinking about--like the 1970's style apartments that look like one big house). I was always toying with the idea of buying or building shophouses and then splitting them up into smaller units. I have seen where people have done that and turned them into apartments. Frankly I think it would be hard to compete with like the towering kind of condos if you are selling a small unit within the shophouses. But I think alot of people on this board would dig the idea of buying a shophouse which is 4 stories tall where you have the functional equivalent of a house. (Really there aren't many traditional, western type detached houses in BKK anyways.) Plus, you could probably put in a back yard as part of the condo. I think Falangs who are unable to own land would dig this arrangement since they would be able to buy it outright as a condo.
Posted 2012-09-23 10:19:42
I suppose the land office would refuse to register this as a condo (since they do not want you to buy a shop house) + I think I have seen somewhere that farangs can not own the ground floor units in a condo which means you could only own the higher floors in a shop house.
Posted 2012-09-23 10:31:34
A condo by definition is a ‘Commonly Owned Housing unit.’
Four individual unconnected shop houses in a row would not satisfy this definition –since there is nothing ‘common’ about them.
However if each floor had a common corridor connecting the 4 together then that would, I think ,satisfy the definition.
A condo cannot be used for commercial activity-so the ‘shop’ part of the shop house would have to disappear.
I suspect that internal stairs would not be allowed .
Of course you would have to have a JPM –a committee and maintenance fees. audited accounts ,AGM's etc.etc.
So apart from all the a fore mentioned limitations –no problem
Edited by Delight, 2012-09-23 10:44:06.
Posted 2012-09-23 21:10:24
This brings another question, what if the condo has "a JPM ľa committee and maintenance fees. audited accounts ,AGM's etc.etc." and later on, no one cares about it and it gets abandoned. What happens then?
Posted 2012-09-23 22:33:04
I can't remember all the details but to constitute a condominium you must have
1. a minimum number of units.......maybe 40 from my deteriorating memory, but certainly way more than 3.
2. a minimum size each unit I believe it's 25sqm.
3. Some other conditions I can't remember.
Fake condominium basically houses has been tried before in BKK but heard it won't ever be allowed again.
Personally I thought of a very low rise, 2 floor, or maybe 3 floor design, where units interlock but don't overlook each other because of smart design and facing varying directions. Each unit would have considerable balcony area more like a Babylonian garden on top of unit below, the fronts of each unit being offset backwards and maybe sideways. Plants hanging over from gardens above could look great. Fibreglass waterproofing on all garden roofs (I have done it before). Think one could get away with this but if anyone would like to be involved in a 40 unit + development in Thailand I suggest you commit yourself to an mental institution before it is done for you.
Edited by cheeryble, 2012-09-23 22:47:09.
Posted 2012-09-28 04:57:41
Interesting idea in here. Why not just have a Thai owned building that you convert to condo style rooms and then rent them out? The tennants wouldn't have any ownership rights, but that's about the only thing different (right?).
Posted 2012-10-02 13:40:40
To Clarify some of the statements so far made on this post and to correct part of my earlier post- I submit the following
Definition of a Condominium:-
The original Act was entitled-
1 This act shall be called "the Private, commonly-owned housing Act 1979."
2 "Private, commonly-owned housing" means a building that can be independently divided into parts for individual ownership holdings and, thereby, each part comprises ownership in private property and co-ownership in common property.
3 "Private property" means a housing unit, including the construction or the land that is allotted as the property of the individual owner of each housing unit.
I am assuming that the land referred to in ‘3’ is for example the land under a patio area.
Therefore a row of 3 town houses can be regarded as a condominium.-There is no actual stipulation of the minimum number of housing units in a condo –and no reference to minimum area size.
Other parts of the Act have an impact.
The Committee must have minimum 3 co –owners (therefore minimum 3 housing units )and
The 51%Thai 49% Foreigner area allocation
So one of the row can be owned by a Foreigner(49% of the total area) and the other 2 (sharing the 51%) via Thai companies.
The problem that I see is that whilst it is positive for the Foreigner it is negative for the co –owners with Thai companies i.e. JPM, maintenance fees –committees –audits AGM,s etc. They could simply buy a townhouse in the conventional way without all the complication.
That would all ,change if the 49%/51% rule was scrapped.
Edited by Delight, 2012-10-02 13:43:04.
Posted 2012-10-02 18:02:44
For those interested in the house condo concept, they are very rare and have heard of any done since, but suggest that you check out "Flora House" on Sathu Pradit 19 link here http://goo.gl/maps/SsTcx note that all "houses" are terraced and connected to a central raised common garden and pool, with parking below.
Posted 2012-10-03 13:07:57
The condo is the form of housing tenure and other real property where a specified part of a piece of property is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights associated with the individual ownership.
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