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.

Riviera Wongamat A Naklua 2BR (S9822)

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For Sale The Riviera Wongamat

Pattaya, Thailand

12,720,500฿

Overview

Condo, Residential
Property Type

2
Bedrooms

2
Bathrooms

S9822
Property ID

Description

Two-bedroom condo on the 5th floor offering 84 sqm of living space with a sea view under foreign quota ownership. Priced at ฿12,720,500. High-end finishing, resort-level shared facilities, and superb location in Naklua’s Riviera Wongamat complex.

Available Amenities

Multiple communal swimming pools (ground level lagoon pools plus sky/infinity or elevated pools)
Fully equipped gym / fitness suites with sea or sky views
Sky lounges and elevated relaxation gardens (e.g. 4th & 33rd floor sky gardens)
Children’s play area / kids club and games room
Landscaped gardens and lush tropical greenery throughout the project
Large multi-level sun decks and pool decks with water features, waterfalls, fountains
Rooftop terraces and private elevated garden areas
Secure access systems (key card, face scan / digital access)
24-hour security and CCTV surveillance
Covered / resident parking
Lobby, reception / lounge common areas