Ownership & Process
How a foreign buyer holds a villa at TerraVida, and what happens between reservation and keys.
- To reserve a plot
- 1%
- Handover
- Q4 2027–Q2 2028
The structure
The project operates through a registered Thai company under an approved land lease and villa ownership model. A foreign buyer takes a long leasehold interest in the plot together with ownership of the building on it — the standard route for foreign ownership of Thai residential property. We will set out the exact structure, and how and where the interest is recorded, in writing before you commit to anything.
This page describes the structure in general terms. It is not legal advice, and every buyer should take independent Thai counsel before signing. We will provide the full documentation set for your lawyer to review before any payment beyond the reservation.
From reservation to keys
- 01
Reservation
A 1% reservation payment holds the plot for one month and is the first instalment on the published payment schedule. It is refundable: if you decide not to proceed, it is returned in the currency you paid it in, less 3% of the amount paid. The reservation agreement sets this out before you pay.
- 02
Due diligence
We provide the title, lease structure, company documents, permits and construction contract for your lawyer.
- 03
Contract signing
Lease and construction agreements are signed and 29% falls due, bringing you to 30% paid.
- 04
Construction
Four further instalments track physical progress — start on site, structural completion, finishing completion, and handover — each verifiable before it is paid.
- 05
Registration & handover
The lease is registered, the final 15% is paid and the villa is handed over furnished to your selected package.
Programme
Phase One is on site.Phase Two follows.
Phase One
- Q1 2026Pre-sale, friends & familyComplete
- Q2 2026Open market releaseComplete
- Q2 2026Construction beginsComplete
- Q1 2027Structural completion
- Q4 2027Finishing completion
- Q4 2027Key handover
Phase Two
- Q3 2026Pre-sale, friends & familyComplete
- Q4 2026Open market release
- Q4 2026Construction begins
- Q3 2027Structural completion
- Q1 2028Finishing completion
- Q2 2028Key handover
Both phases run on the same payment schedule; only the dates differ. Phase Three has a master plan and prices but no published programme yet — we will send its terms with the plot documentation.
On site
Thirteen months of work.
The developer photographs the site as the work goes on. Four of those visits below — the same ground, from raw land to houses standing in formwork. These are site photographs, not visualisations.
July 2025
The land, with the canal and the first plot lines set out March 2026
Cleared and levelled, the plots being set out on the ground June 2026
Excavation and the first foundations going in August 2026
Frames up across the first houses, the hub excavated alongside
Most recent photographs taken on site 11 August 2026. We add to this as the works advance; ask us for the current position on any specific plot.
Questions buyers ask
- Is the reservation refundable?
- Yes. The 1% holds the plot for one month, and if you decide not to proceed it is returned in the currency you paid it in, less 3% of the amount paid. Nothing beyond the reservation is due until your lawyer has seen the full documentation set.
- Can a foreigner own this outright?
- A foreigner cannot own Thai land freehold. What you hold here is a long lease over the plot plus ownership of the building on it, which is the standard route. Your lawyer will receive the full structure — the lease term, the registration and the company documents — to review before you sign.
- What happens if construction stalls?
- Payments are tied to verified physical milestones rather than dates, so you are never far ahead of what has been built. The construction contract sets out remedies, and your lawyer should review them before you sign.
- Do I have to let it?
- No. Management is optional at both tiers, and a number of owners intend to use their villa themselves. The projections exist for those who want them, not as an obligation.
- Who pays for the shared areas?
- The wellness hub and the roads, planting and lighting are maintained through a service charge shared across the homes that use them. The figure, and how it is apportioned across the phases, is set out in the contract documents.
Ask us anythingspecific
If your lawyer wants the documentation set, say so and we will send it.
Or reach us directly
The site is open to visit — we will walk you around the plots and the plans in person, or cover the same ground on a call.
Koh Phangan