Can foreigners buy a condo in Thailand?
Yes, and many people do. Thailand allows foreigners to own a condominium unit in their own name. What matters is understanding the few rules that make it possible, so the purchase is calm rather than complicated. The rules below apply across Thailand, whether you buy in Bangkok, Pattaya or Phuket.
Condominiums, not land
Foreign nationals cannot generally own land in Thailand in their own name. A condominium unit is different. Under the Condominium Act, a foreigner can hold a unit freehold, with their name on the title deed.
Houses and villas sit on land, so they are usually held through a long lease instead. That can work well, but it is a different conversation and deserves careful legal advice.
The foreign quota
In each condominium building, up to 49 percent of the total sellable floor area can be owned by foreigners. The remaining share is reserved for Thai owners.
In popular central buildings the foreign quota can be fully taken. When that happens, a unit may still be available on a Thai quota, but it cannot be transferred freehold to a foreign buyer. Checking the quota early is one of the first things we do when we help buyers find a home.
Bringing the money in
For a freehold foreign purchase, the funds are normally transferred into Thailand from abroad in a foreign currency and converted locally. The receiving Thai bank then issues a document confirming the transfer, often called a Foreign Exchange Transaction form or a bank credit advice.
The Land Office asks for this document when the unit is registered in your name. Planning the transfer before you pay any deposit avoids most of the stress people associate with buying abroad.
Costs at transfer
At the Land Office, transfer costs typically include a transfer fee, withholding tax, and either specific business tax or stamp duty, depending on how long the seller has owned the unit. Who pays what is agreed between buyer and seller, and it should be written into the sale agreement.
New developments may also ask for a sinking fund and maintenance fees in advance. None of this is unusual, but every number should be on paper before you commit.
What to check before you commit
Whether the foreign quota is available for the unit. Who holds the title deed today and whether there are any mortgages or encumbrances. The building’s common fees and how well the juristic person manages the building. And, for an off-plan unit, the developer’s track record.
If you are still deciding where to buy, our guide to choosing a Bangkok neighbourhood is a good place to start.
This is general information, not legal advice. Rules and fees change, so we always work alongside an independent lawyer on the transfer itself.
