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.

What to do if construction is delayed or cancelled?

Buying off-plan property in Thailand can be rewarding — but delays or cancellations do happen. Here’s a professional, easy-to-read guide on how to protect yourself and what steps to take if things go wrong.

🕒 If Construction Is Delayed

✅ Step-by-Step Action Plan:

Action	What to Do	Why It Matters
1. Review your contract	Look for delivery timeline, penalty clauses, and refund terms	Most legit contracts include delay penalties (e.g., ฿ per day/month)
2. Contact the developer	Ask for written updates or revised timeline	Establish a paper trail for future claims
3. Visit the site (if possible)	See if actual work is ongoing	Helps detect if it’s a real delay or a serious problem
4. Check government permits	Verify EIA approval, construction license status	Delays often come from permit issues
5. Send formal notice	Via lawyer or registered letter	Ensures your legal rights are documented in case of escalation

🚨 If the Project Is Cancelled

Cancellation can happen if the developer fails to secure funding, permits, or sells too few units.

💼 Legal Remedies:

Option	What It Means	Key Notes
Full refund claim	You are entitled to all money paid	Should be outlined in your contract
Interest/penalty compensation	Some contracts include this	Not always enforced unless you push legally
Join a class action	Other buyers may be taking legal steps	Strength in numbers (and media attention)
File civil court case	Sue the developer directly	May take 6–24 months, depending on complexity

🔍 Red Flags That Suggest Cancellation Risk

Long gaps in construction activity
Sales offices suddenly closing
Developer stops communicating
“Change of ownership” of the project

🛡️ How to Protect Yourself (Before You Buy)

✅ Choose established developers with completed past projects
✅ Verify construction permits and land title before paying
✅ Use a lawyer to review your contract
✅ Ask for bank guarantees or escrow agreements (some projects offer this)