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.

City Garden Tower Pattaya 3rd Road 2BR Condo (S9059)

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For Sale

Pattaya, Thailand

8,500,000฿

Overview

Condo
Property Type

2
Bedrooms

2
Bathrooms

S9059
Property ID

Description

🏙 City Garden Tower Condominium – Corner Unit for Sale & Rent
📍 Prime Location on Pattaya 3rd Road – High Floor | Foreign Quota

💰 For Sale: 8,500,000 THB
💼 For Rent: 45,000 THB/month
📐 Size: 76 SQM | 21st Floor | Corner Unit
📝 Ownership: Foreign Quota
⚖️ Transfer Fee: 50/50

🛏 2 Bedrooms + 1 Bonus Area
🛁 2 Bathrooms
🌇 Spacious Balcony with Stunning City Views
🪑 Fully Furnished – Ready to Move In

Luxury Facilities Include:
🍽 On-Site Restaurants & Bar
🏊‍♂️ Large Swimming Pool
🔥 Sauna & Steam Rooms
🏋️ Fitness Center
🌿 Gardens & Recreation Areas
🧒 Indoor Children’s Playground
🛋 Lounge & Reception
🛡 24-Hour Security with CCTV & Key Card Access
🚗 Secure Parking
🧺 Laundry Services

📍 About the Location:
City Garden Tower is located on Pattaya 3rd Road, offering unmatched convenience. Just:
• 5 minutes to Walking Street
• 8 minutes to Central Festival
• Easy access to the beach and public transportation

🏢 Completed in 2018, the development offers 29 floors and 72 premium units.

✨ Ideal for both investment and comfortable city living. Inquire today to schedule a viewing!