What foreigners can own
Condominium units can be owned freehold by foreigners within the building's 49% foreign quota. Land cannot be owned in a foreign name, apart from rare investment-based exceptions.
| Property | Route | What to know |
|---|---|---|
| Condominium unit | Freehold | Total foreign ownership must stay within 49% of the building's saleable area. Ask the building's juristic person for a letter confirming quota. |
| Condo above the quota | Leasehold | Units above the foreign quota can only be leased by foreigners. |
| Land, house or villa | Registered lease | Up to 30 years, registered at the Land Office. Renewal options are not guaranteed against later owners. |
| House on leased land | Own the building | A foreigner can own the building (construction permit in their name) while leasing the land. |
With a Thai spouse, the land is owned by the Thai spouse and the foreign spouse signs a declaration that the funds are the Thai spouse's personal property.
- Chanote (Nor Sor 4 Jor) is the full title with GPS-surveyed boundaries, and the strongest.
- Nor Sor 3 Gor is a confirmed right of use with surveyed boundaries. It can be upgraded.
- Weaker documents (Sor Kor 1, Por Bor Tor 5) cannot be transferred safely.
Bringing the money in
To register a foreign freehold, the purchase money must be brought into Thailand in foreign currency and converted by a Thai bank, which issues the FET form.
- Transfer the funds in foreign currency and state the purpose: the purchase of the condominium unit.
- The Thai bank issues a Foreign Exchange Transaction (FET) form, or a credit advice for smaller amounts. The Land Office requires it.
- Keep the FET form and all transfer records. They are needed again to take the sale proceeds out of Thailand later.
Costs and taxes
A buyer should budget about 1–3% on top of the price, depending on how the transfer costs are split, plus the building's sinking fund. Most taxes at transfer are normally paid by the seller.
| Cost | Amount | Normally paid by |
|---|---|---|
| Transfer fee | 2% of the Land Department's appraised value | Split 50/50. Developers often pay part on new projects. |
| Specific business tax | 3.3% of the higher of appraised value or price | Seller, if selling within 5 years of acquiring. |
| Stamp duty | 0.5%, only when specific business tax does not apply | Seller. |
| Withholding tax | Progressive for individuals; 1% for companies | Seller. |
| Agency commission | Typically 3% + 7% VAT | Seller. |
Who pays what is negotiable and must be written in the sale and purchase agreement.
Buying cost calculator
TH- Transfer fee (your half)฿80,000Of the Land Office appraised value; split is negotiable
- 1.0% of the pricePrice plus costs: ฿8,080,000
Buyer's share when the 2% transfer fee is split 50/50, shown on the price (it is charged on the appraised value). The seller normally pays specific business tax or stamp duty, withholding tax and the agency commission. The building's sinking fund comes on top.
Indicative figures from each market's standard fees. Not a quote.
| Cost | Amount |
|---|---|
| Common area fee | Monthly or yearly, per m², set by the condo's juristic person. |
| Sinking fund | A one-off contribution at purchase, per m². |
| Land and building tax | Annual, at low rates for residential property. |
| Rental income | Taxed as personal income in Thailand. Company tenants may withhold 5%. |
| Registering a lease | 1% of the total rent for the whole term + 0.1% stamp duty. |
How a condo purchase runs
A resale condo purchase runs from a reservation deposit to a same-day transfer at the Land Office, with a lawyer's due diligence in between.
- ReservationSign a reservation agreement and pay a deposit, often THB 50,000–200,000, to take the unit off the market for 2–4 weeks.
- Due diligenceA lawyer checks the title deed, mortgages, the seller's right to sell, the foreign quota and outstanding common fees.
- Sale and purchase agreementPrice, payment schedule, transfer date and who pays which costs. A further deposit is usual, commonly 10–30% in total.
- Transfer the funds from abroadIn foreign currency, stating the purpose, so the Thai bank issues the FET form.
- Transfer at the Land OfficeBoth parties sign, the balance is paid by cashier's cheque, fees and taxes are paid, and the title is endorsed in your name the same day.
- After transferRegister with the juristic person, pay the sinking fund and set up the utilities.
Followed step by step in ReconciergeTH
- Offer
- Reservation deposit
- Due diligence (title & foreign quota)
- Sale and purchase agreement
- Funds transfer from abroad (FET)
- Land Office transfer
Each step comes with its checklist of documents, payments and checks, shared with the people you invite.
Buying off-plan: you pay by instalments during construction, with the balance at completion. Check the developer's track record, the completion date, the penalties for delay and whether your payments are protected.
Visas and financing
Buying property does not give a visa or residence in Thailand by itself, and Thai banks rarely lend to foreigners without Thai residence, a work permit and local income.
- Thailand Privilege: a paid membership visa for 5–20 years.
- Long-Term Resident (LTR) visa: 10 years. The wealthy global citizen category asks for substantial assets and an investment in Thailand, which can include property.
- Retirement visas from age 50, and the Destination Thailand Visa (DTV) for remote workers.
- Financing: cash, a loan against assets abroad from an international bank, or developer financing on new projects (higher rates, shorter terms).
Renting in Thailand
Leases typically run for one year, with a two-month security deposit and the first month's rent paid at signing.
- Lease terms: one year is standard, shorter in tourist areas. Leases over 3 years must be registered at the Land Office to be enforceable for the full term.
- Utilities: electricity and water are often charged by the building or the landlord. Check the rate per unit.
- TM30: the landlord must notify Immigration of a foreign tenant's address within 24 hours of arrival. Tenants need the receipt for visa extensions.
- Short lets: renting a condo for less than 30 days is generally not allowed without a hotel licence, and many buildings forbid it.
For investors
Gross yields for condos in Bangkok and Phuket have commonly been in the 4–7% range. Deduct common fees, furnishing, vacancy and management to reach a net figure.
- Check the foreign quota first. It decides whether you can own a unit freehold, and it matters again when you sell to another foreign buyer.
- Mind the five-year mark. A seller within 5 years of acquiring pays 3.3% specific business tax instead of 0.5% stamp duty.
- Plan the exit when you enter. The FET form and transfer records let you take the proceeds out later.
- Holiday rentals depend on the building's rules and the 30-day rule. Ask before you count on nightly income.
Where we cover
- Bangkok
- Phuket
- Pattaya
- Chiang Mai
- Hua Hin
How Reconcierge helps in Thailand
The guide tells you the rules. Your concierge applies them to your brief and to each listing.
- A selection, not a searchListings from agencies, developers and portals, ranked against your brief and refreshed as prices change.
- The real cost of each oneFees and taxes itemised for the price in front of you, with the yield it could earn.
- Answers at any hourAsk about areas, ownership, visas or financing, and have contracts explained before you sign.
- The right people, then one placeMeet qualified agents and developers, then follow offers, documents and deadlines together.
Questions people ask
Can foreigners buy property in Thailand?
Yes, with limits. Foreigners can own condominium units freehold, provided total foreign ownership in the building stays within 49% of its saleable area. Land cannot be owned in a foreign name, so houses and villas are usually held on a registered lease of up to 30 years.
Can a foreigner own a villa in Phuket?
Not the land. The usual legal routes are a registered lease of the land for up to 30 years, or owning the building while leasing the land. Companies with nominee Thai shareholders set up to hold land for a foreigner are illegal.
What is the FET form?
The Foreign Exchange Transaction form is issued by a Thai bank when purchase money arrives from abroad in foreign currency. The Land Office requires it to register a foreign freehold, and it is needed again to take sale proceeds out of Thailand.
How much are the costs when buying a condo in Thailand?
A buyer should budget about 1–3% on top of the price, plus the sinking fund. The 2% transfer fee is commonly split 50/50, while specific business tax or stamp duty, withholding tax and the agency commission are normally paid by the seller.
Does buying property in Thailand give a visa?
No. Buying property does not give a visa or residence by itself. Long-stay options exist separately, such as Thailand Privilege, the Long-Term Resident visa, retirement visas and the Destination Thailand Visa.
Can foreigners get a mortgage in Thailand?
Rarely from Thai banks without Thai residence, a work permit and local income. Most foreign buyers pay cash, borrow against assets abroad or use developer financing on new projects.
Which parts of Thailand does Reconcierge cover?
Bangkok, Phuket, Pattaya and the wider Chon Buri province, Chiang Mai and Hua Hin.
Figures are indicative. Fees and taxes are collected by the Land Department and the Revenue Department at transfer and can change. Check ownership and visa questions with the Land Department, the Immigration Bureau and a Thai property lawyer.
