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.

Simple Step-by-Step Guide to Buying a Home in Thailand

Buying a home is a big decision—and in Thailand, there are some special things to consider. Whether you’re buying for yourself, your family, or as an investment, this guide will walk you through the important steps in a clear and easy way.

🗓️ Plan at Least 6 Months Ahead

Step	What to Do
💰 Budget	Save for deposit & closing costs, renovation, furnishings
🏦 Mortgage	Research loan options or bank pre-approval
🏠 Family Needs	Consider family, pets, elderly parents
🔍 Start Your Search	Browse listings on reliable websites
🧑‍💼 Hire an Agent	Use trusted agents who know the area

🔍 Start Your Property Search

Browse online portals like www.centralcityproperty.com
Use filters: location, price, bedrooms, proximity to school/work
Create a shortlist of your favorites
Make side-by-side comparisons
Sign up for alerts on new listings

📋 Tip: Make a checklist of what you need (e.g., “must have 3 bedrooms,” “near BTS,” etc.)

🧑‍💼 Choosing the Right Real Estate Agent

Look for agents who:

Know the local market
Work full-time
Can show you all properties, not just their listings

Ask Questions Like:

Do you have experience in my target area?
Can you provide references?
What makes you different?

✅ A good agent saves you time, money, and stress.

🏠 Viewing Properties – What to Look For

Use this visual checklist when inspecting homes:

What to Check	Why It Matters
👃 Smell	Check for mold or water damage
🧱 Wall Cracks	May signal structural issues
📦 Storage Space	Often forgotten, but important long-term
🌞 House Facing Direction	Affects sunlight, temperature, electricity use
📐 Room Sizes	Will it suit your needs as your family grows?
⚡ Electrical Condition	Old or unsafe wiring can be costly to fix
🚰 Plumbing & Water	Low pressure, leaks = hidden costs
🌊 Flood Risk	Some areas in Thailand are prone to flooding
🔇 Insulation	Helps control temperature and reduce noise

📝 Making an Offer & Due Diligence

🗓️ 2 Months Before Closing

Found the right place? Ask your agent to submit an offer.

🗓️ 3 Weeks Before Closing

Hire a lawyer to:
- Check the title deed
- Review the sale agreement
- Arrange deposit (usually 10%)
- Conduct a final property inspection

🛠️ Also Check:

Furniture list
Outstanding debts
Transfer fees, taxes, utilities

📄 Documents You’ll Need Before Closing

Document	Notes
FET Form	Foreign exchange confirmation
ID/Passport	Required for all buyers
Marriage Certificate	If buying jointly
House Registration Book	Thai document for residential properties
Cashier’s Cheque	For payment at Land Office

🎉 Closing Day!

Meet at the Land Office to complete the transfer
Pay remaining balance and taxes
Get the title deed and keys

🏡 Welcome to your new home in Thailand!

📦 Don’t forget to transfer the utility bills: electricity, water, internet, etc.

📞 Need Help?

Reach out anytime:

Email: contact@centralcityproperty.com
WhatsApp: +66959920345