Can foreigners own property in Thailand?

Foreigners can own freehold condominium units (up to 49% of a building’s total units) but cannot directly own land. Alternatives include long-term leases (up to 30 years, renewable) or owning land via a Thai limited company with Thai majority shareholders.

What are the restrictions on foreign land ownership in Thailand?

Thai law prohibits foreigners from owning land under the Land Code Act. Options include leasing land for up to 30 years or setting up a Thai limited company (51% Thai-owned) to hold the land title.

How can foreigners buy a condo in Thailand?

Foreigners can buy freehold condos if the foreign ownership in the building is below 49%. Funds must be transferred from abroad, documented with a Foreign Exchange Transaction Form (FET). A lawyer is recommended for due diligence and title transfer.

What are the costs and taxes when buying property in Thailand?

Costs include transfer fees (2% of appraised value), withholding tax (1% of appraised or sale value), specific business tax (3.3% if sold within 5 years), and stamp duty (0.5% if no SBT applies). Legal fees range from 20,000–30,000 THB. Condo buyers may also pay sinking fund fees.

Can foreigners get a mortgage to buy property in Thailand?

Thai banks offer limited mortgages to foreigners (40–70% of property value, up to 15 years, with high interest rates of 6–9%). Eligibility requires proof of income and residency. Some developers offer financing, or buyers use overseas loans.

What is the process for buying property in Thailand as a foreigner?

Steps include finding a property, hiring a lawyer and agent, conducting a title search, signing a purchase agreement, transferring funds with a FET, and finalizing ownership at the Land Office (30–60 days).

Is it safe to buy property in Thailand as a foreigner?

Buying is safe with proper due diligence—hire a reputable lawyer, verify the seller’s title, and use registered agents. Risks include unregistered agents or buying without legal checks.

Can foreigners rent out their property in Thailand?

Foreigners can legally rent out their property, subject to income tax on rental earnings (progressive rates based on income). Management companies can handle rentals, but owners must comply with TM.30 tenant reporting.

What are the visa implications of buying property in Thailand?

Buying property does not grant visa privileges. However, investing 10 million THB in real estate may qualify for the Thailand Elite Visa (5–20 years). Standard visas (e.g., retirement, business) require separate applications.

What are the risks of buying property in Thailand as a foreigner?

Risks include buying without due diligence, using unregistered agents, condo depreciation, neglected building maintenance, or legal issues with leaseholds or companies. A lawyer mitigates these risks.

Buying a property in Thailand: What you need to know

Buying Property in Thailand as a Foreigner – Simple Guide

Thinking about buying property in Thailand? Whether it’s a condo, villa, or house, here’s an easy-to-follow guide to help you understand the process and make smart decisions.

🧭 Step 1: Choose a Trusted Property Agent

Why Use an Agent?	Benefit
Knows the area & speaks Thai	Saves time and avoids miscommunication
Acts as your local representative	Negotiates better deals on your behalf
Helps you avoid scams and fake listings	Ensures transparency and legal safety

📌 Tip: Don’t assume direct-from-developer is cheaper. Agents help you find the best deal overall.

⚖️ Step 2: Talk to a Property Lawyer

Before signing anything, consult a Thai property lawyer to:

Understand ownership options
Review contracts and deposit terms
Guide you through the legal process

🔒 Your lawyer protects your interests.

📜 Step 3: Do a Title Deed Check

Ask your lawyer to perform a full title search:

Confirm seller legally owns the land
Check for mortgages, liens, or encumbrances
Review zoning & building regulations
Ensure access rights to roads & utilities

✅ Only proceed if everything is clear.

💸 Step 4: Make a Deposit

Once satisfied:

Make a deposit to reserve the property
Request “subject to clear title” clause for protection

📌 Note: Without such a clause, deposits are often non-refundable.

🧾 Step 5: Review the Sales Contract (SPA)

What to Look For	Why It Matters
Penalty clauses	Avoid unfair fees for late payments
Delay & compensation clauses	Protects you if construction is delayed
Deposit conditions	Clarify refund rights or exit clauses

📋 Always have your lawyer review before signing.

🏢 Condo Ownership for Foreigners

Yes, foreigners can legally own condos:

Up to 49% of total floor area in a building
Must transfer full payment from overseas in foreign currency
Thai bank issues Foreign Exchange Transaction Form (FETF)

📝 You need this FETF to register ownership.

Example Fees

CAM Fee (Monthly)	Condo Size	Monthly Fee	Yearly Total
50 baht/sqm	100 sqm	5,000 THB	60,000 THB/year

Also: Sinking Fund Fee (one-time for first buyer)

🏡 Land Ownership: Can Foreigners Buy Land?

No, foreigners can’t own land directly but can:

Lease land long-term (30 years, renewable)
Build and own a house on leased land
Set up a Thai company (requires real Thai shareholders)

🔑 Make sure the lease & building terms are clear in contracts.

If Married to a Thai

Sign a lease or usufruct with your spouse to secure your rights

🧱 Can Foreigners Build a House in Thailand?

Yes, on leased land or land owned by your Thai spouse or company:

Apply for the construction permit in your name
House is yours, land is leased

🏠 The house and land are considered separate in this case.

🏢 Condo vs Landed Property: What’s Best?

Feature	Condo	Landed Property
Ownership	Easier (49% foreign quota)	Complicated (via lease/company)
Privacy & Control	Limited	High
Maintenance	Shared (CAM Fees)	Private
Resale & Liquidity	High	Moderate
Legal Complexity	Low	High

📌 For simplicity, condos are best. For space & privacy, consider land + lease.

🧠 Final Thoughts

Always use a lawyer and a local agent
Never skip the title check
Use official contracts and documents
Be clear on what you’re buying: land, house, or condo

📞 Need Help?

Let us assist you step-by-step:

Email: contact@centralcityproperty.com
WhatsApp: +66959920345

Buying a property in Thailand: What you need to know