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.

LK Legend Central Pattaya 2BR Condo (S9241)

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For Sale

Pattaya, Thailand

4,500,000฿

Overview

Condo
Property Type

2
Bedrooms

3
Bathrooms

123.82
m²

S9241
Property ID

Description

👉 Spacious Central Pattaya Condo – Great Value! 👈

📍 Location: Central Pattaya (LK Legend)
📏 Size: 123.82 Sq.m
🛏 2 Bedrooms | 🛁 3 Bathrooms
💰 Price: 4,500,000 THB
📜 Foreign Ownership (Foreigner Name)

This generously sized condo offers incredible value in a prime location. The unit comes unfurnished, allowing you to customize it to your preferences. It features a well-equipped European kitchen and a balcony with city views.

As part of the esteemed LK Legend community, residents enjoy:

✅ Access to a communal swimming pool
✅ Fitness center
✅ 24-hour security for peace of mind
✅ Quiet, resort-style living in the city center

Located just minutes from shopping centers, restaurants, and Pattaya’s vibrant attractions, LK Legend offers a serene escape while remaining conveniently connected to everything.

Perfect as a permanent residence or investment opportunity, this condo delivers excellent potential at an unbeatable price.

📞 Interested or want to arrange a viewing? Contact us today!