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.

Nova Mirage Condominium Wongamat 2BR Condo (S9369)

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For Sale

Pattaya, Thailand

4,600,000฿

Overview

Condo
Property Type

2
Bedrooms

2
Bathrooms

S9369
Property ID

Description

🌴 2-Bedroom Condo with Sea View | Nova Mirage, Wongamat Beach

Enjoy tropical living in this spacious 94 sq.m. condo, ideally located just steps from Wongamat Beach in the heart of Naklua Soi 16. Set in the well-maintained Nova Mirage Condominium, this 2-bedroom, 2-bathroom unit sits on the 6th floor and features a large balcony with partial sea views—perfect for relaxing with your morning coffee or evening wine.

🛏️ Property Features:

2 Bedrooms | 2 Bathrooms
Size: 94 sq.m.
6th Floor | Large Balcony with Sea View
Spacious Kitchen Fully Equipped with Appliances
Fully Furnished | Ready to Move In

🏢 Facilities:

2 Swimming Pools
Fitness Area
Ample Parking
24/7 Security

📍 Prime Location:

Short walk to restaurants, massage shops, and convenience stores
Less than 10 mins to Terminal 21, local fresh market & Sanctuary of Truth
Easy beach access & walkable to The Glasshouse Silver, Surf & Turf, and Bamboo Beach

💰 For Sale: 4,600,000 THB
📍 Also available for rent – inquire for details!

This is your chance to own a beautiful seaside residence or a great rental investment in one of Pattaya’s most desirable neighborhoods.