Buying a condo in Thailand is one of the most straightforward ways for foreigners to legally own property in the country. But beyond the advertised price of the unit, there are several fees, taxes, and ongoing costs you need to be aware of. This guide breaks down all the total costs involved—so you can budget with confidence.
📌 1. Purchase Price
This is the base price of the condominium unit. It varies depending on:
- Location (Bangkok, Phuket, Chiang Mai, Pattaya)
- Unit size and floor level
- Developer reputation and facilities
- Freehold or leasehold status
💡 Tip: Foreigners must transfer the full amount from overseas in foreign currency (usually USD or EUR), and convert it into Thai Baht before the purchase. You’ll need a Foreign Exchange Transaction form (FET) to complete the transfer at the Land Office.
🧾 2. Upfront Transaction Costs
| Fee / Tax | Rate | Who Pays? |
|---|---|---|
| Transfer Fee | 2% of government-assessed value | Usually split 50/50 |
| Stamp Duty | 0.5% of registered value | Seller (or negotiated) |
| Specific Business Tax | 3.3% (if owned <5 years by seller) | Seller |
| Withholding Tax | 1% of appraised/contract value | Seller |
| Mortgage Registration Fee | 1% of mortgage amount | Buyer (if applicable) |
➡️ You, as the buyer, typically cover:
- Half of the 2% transfer fee
- The mortgage registration fee (if you’re using a loan)
💡 Example Cost Breakdown
Let’s say you’re buying a THB 10 million condo in Bangkok.
| Item | Cost (THB) |
|---|---|
| Purchase price | 10,000,000 |
| Transfer fee (1%) | 100,000 |
| Mortgage registration | 0 – 100,000 |
| Stamp duty (if applied) | 0 – 50,000 |
| Sinking fund | ~50,000 |
| Utility setup fees | ~3,000 |
| Total Upfront Costs | ~THB 10.2–10.3M |
🛠️ 3. One-Time Project Fees
When buying from a developer (especially for new builds), expect the following:
| Fee | Amount (THB) |
|---|---|
| Sinking Fund | THB 500–1,200 / sq.m. (one-time fee) |
| Utility Connection Fees | THB 1,000–5,000 for water/electricity |
| Furniture Package | Optional, varies by developer |
🔁 4. Annual Ownership Costs
| Recurring Cost | Rate |
|---|---|
| Common Area (Management) Fee | THB 70–150 / sq.m. / month |
| Land & Building Tax | 0.02% – 0.10% of appraised value |
| Insurance | Optional (varies by coverage) |
For example, if your condo is 80 sq.m. and the common fee is THB 100/sq.m., that’s:
- THB 8,000/month or THB 96,000/year in management fees.
📜 5. Legal Fees (Optional but Recommended)
- Lawyer review of Sale & Purchase Agreement – THB 10,000–30,000
- Due diligence, title deed check – THB 15,000–50,000
- Power of Attorney (if you buy remotely) – THB 2,000–5,000
🧠 Final Thought
Buying a condo in Thailand is a great way for foreigners to legally own real estate, but it’s important to go beyond the listed price and calculate total ownership costs.
✅ Summary Checklist
| Cost Category | Approx. Range (THB) |
|---|---|
| Condo Price | 1M – 100M+ (depends on location) |
| Transfer & legal fees | ~2% – 4% of condo price |
| Sinking + utilities | 2,000 – 50,000+ (one-time) |
| Yearly fees/taxes | 0.02% – 0.1% of value + 100–150/sq.m. |
| Lawyer (optional) | 20,000 – 80,000 |
📞 Need Help Finding the Right Condo?
We sell and rent properties across Thailand and assist foreign buyers with expert guidance. While we don’t provide legal advice, we work closely with reliable, English-speaking lawyers and can refer you to trusted professionals.
📩 Email us: contact@centralcityproperty.com
📱 WhatsApp: +66 95 992 03
🌐 Website: www.centralcityproperty.com
Let us help you secure your dream home in Thailand—safely and legally.
