How to Buy a Condo in Thailand as a Foreigner

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You can own a freehold condominium outright, provided the building’s foreign ownership quota, 49 percent, has room. That rule is why condos are by far the most common route for expat buyers.

This is a practical walkthrough of the process, plus the investor points you should not skip. Short and useful.

1. Know the rules and your eligibility

Yes, foreigners can own a condo. Do not assume the quota is fine just because a salesperson said so. Ask for written confirmation of the 49 percent quota and get the juristic person rules in writing. Those building rules matter. Renovation limits, guest policies, and short-term rental rules can derail plans if you skip them.

Quick definitions: Freehold condo ownership means you get the unit title deed in your name. Leasehold is different; it is common for land and villas and usually runs in 30-year blocks with possible renewals. Every building has an owners’ association that manages common areas and issues the letters you will need.

Practical step: before you sign anything, ask the developer or building manager to email the quota confirmation and the juristic person rules.

Many buyers also ask about visas — here’s what you need to know about buying property in Thailand and getting a visa

2. Budget and finance plan before you fall in love

Pictures look great, but money is what matters.

Plan on 5 to 7 percent extra on top of the purchase price for transfer fees, taxes, the sinking fund, and initial set-ups. If a Thai bank will lend to you, expect larger down payments, typically 20 to 30 percent or more. Many expats still buy cash or use developer payment plans for off-plan units.

If your income is in USD, EUR, or SGD, talk to your bank about foreign exchange timing and costs. Small timing moves can save serious money.

Worked example: a THB 5 million condo (about USD 139,000) — plan THB 250,000 to 350,000 extra (about USD 6,900 to 9,700) for fees, furnishing, and legal steps.

Practical tip: line up your bank and a lawyer before you reserve anything. You will sleep better.

3. Pick a location with lifestyle and exit in mind

Location still decides everything. If you need rental income or easy resale, choose places people actually want to live.

In Bangkok, transit-linked spots win: BTS and MRT stations, new lines, and the Central Business District pockets such as Rama 9 and Ratchada. Ari and Thong Lor attract young professionals who want cafés and short commutes.

Local insight from the market: in the heart of the CBDs, such as Sukhumvit, Silom, Sathorn, and Ratchadamri, you will find ultra high-end condo developments. Prices per SQM in those areas are often out of reach for regular office workers unless they grew up wealthy. Many local Thais and expats without company housing live further out, in places like Ladprao, On Nut, Rama 9, or suburban areas with BTS or MRT links. Those farther-out options usually offer better value and steadier tenant pools.

Resort markets such as Phuket and Chiang Mai work for lifestyle buyers and seasonal rentals, but expect longer vacancy cycles and higher management needs.

Browse available projects in Thailand now

Do your developer homework. Did previous projects finish on time? What do owners say about management and common fees? Marketing looks slick. Reality sometimes does not.

Typical yields to expect, project dependent:

Bangkok long-let: around 3 to 5 percent gross near transit.

Resort short-season: 5 to 7 percent gross in peak months if rules and management allow.

If you need rent to cover costs, focus on units with steady tenant demand near hospitals, universities, offices, or strong transit links.

4. Reserve the unit, but protect yourself

Reservation fees are normal and usually range from THB 50,000 to 200,000, depending on the project. Always get a dated receipt and a reservation agreement that explains refund conditions and the timeline to sign the Sales and Purchase Agreement, the S&P.

For resale purchases, use a short option or deposit agreement with clear deadlines and conditions precedent, such as a clean title and no encumbrances. Keep everything in writing. Those documents are your safety net.

5. Read the Sales and Purchase Agreement carefully

Before you sign, make sure the S&P lists the price, exact specifications, payment schedule, handover date, penalties for delays, and defect liability. Your name must match your passport exactly. For off-plan purchases, double-check escrow arrangements and refund conditions.

A lawyer’s review is modest compared with the protection it gives.

6. Move money the right way. Do not improvise

Many buyers trip up here.

The Land Office requires proof that purchase funds were remitted from overseas in foreign currency and converted in Thailand. Transfer funds in foreign currency to your Thai bank and state the purpose clearly, for example: “For purchase of condominium unit, Project X, Unit Y.” Ask the bank for a Foreign Exchange Transaction certificate or bank letter that the Land Office accepts. If you used multiple transfers, ensure names and purposes match so the bank can aggregate them into one certificate.

Without that certificate, you might not be able to register the unit. Do not skip this.

7. Registration day at the Land Office

Bring a passport, the FET or bank certificate(s), the S&P, payment proofs, and developer handover documents. For resale deals, the seller should bring the original title deed.

Common fees include a transfer fee of about 2 percent of appraised value, a mortgage registration fee of 1 percent if financed, and either stamp duty or specific business tax depending on the seller’s situation. Confirm in the contract who pays what.

After registration, you should receive the unit title deed in your name. Keep the receipts.

8. After transfer, settling in

Register with the juristic office and pay the sinking fund, often THB 500 to 700 per SQM (about USD 14 to 19). Set up monthly common fees, typically THB 30 to 80 per SQM (about USD 1 to 2 depending on the project). Transfer utilities and internet into your name and consider contents insurance.

Keep copies of the FET, the S&P, and fee receipts. Those documents matter when you sell or repatriate funds.

Investment angle — does a condo still stack up in 2025?

Short answer: yes, if you pick carefully and run the numbers. Demand drivers are transit, offices, hospitals, universities, and a clear tenant profile. Bangkok yields are modest, around 3 to 5 percent gross. Resort markets can offer higher seasonal yields but factor in vacancy, management, and local rules.

One important warning: most condos do not allow daily rentals. If your plan depends on short lets, confirm the building rules and local regulations first.

Quick market reality: quality leads are rare right now, so matching the right buyer to the right unit matters more than ever.

Quick FAQs

Q: Can foreigners get a Thai mortgage?

A: Sometimes. Approvals are limited and terms are stricter for non-resident income. Many foreigners pay cash, use developer plans, or finance offshore.

Q: How long does the process take?

A: For finished units, expect two to eight weeks. Off-plan purchases follow construction schedules.

Q: Can two people buy together?

A: Yes. Joint ownership is allowed. Make sure remittances and the documents list both names consistently.

Q: Are short-term rentals legal?

A: Most condos disallow daily rentals. Hotel regulations also apply. Rely on monthly or longer lets unless you have licensed permission.

Q: Do I need a lawyer?

A: Not mandatory, but strongly recommended for due diligence, contract review, and Land Office work.

The takeaway

Buying a condo as a foreigner in Thailand works when you follow the basics: confirm the quota, move funds correctly, and buy where demand is durable. Let the numbers, not wishful thinking, guide your decision.

Friendly reminder

This guide offers general insights to help you understand the process. It is not legal, financial, or tax advice. Rules vary by case, so always consult licensed professionals such as lawyers, tax advisers, or visa agents before making final decisions.

Step-by-Step Guide to Buying a Condo in Thailand as a Foreigner (2025)