Buying a condominium in Thailand as a foreigner

Buying a condominium in Thailand as a foreigner is one of the easiest and most secure options for homeownership in the country. Unlike land or houses, condominiums have a well-defined legal framework that allows foreigners to hold a property in full ownership, under certain conditions.

In this article, we present the essential points to know before you start buying a condo in Thailand.

What is a condominium in Thailand?

A condominium (or “condo”) in Thailand refers to an apartment located in a condominium building, governed by the Condominium Act. This type of property is particularly popular with expatriates and foreign investors, as it is one of the only ones that they can legally own in their own name.

The condominium is managed by a syndicate, which takes care of the maintenance of the common areas, security, and associated services (swimming pool, gym, etc.).

What are the conditions for buying a condo as a foreigner?

The foreign quota of 49%

Thai law requires that no more than 49% of the total living area of a condominium building be owned by foreigners. This means that as long as this quota is not reached, a foreigner can buy an apartment in the freehold building.

Payment in foreign currencies

The purchase of a condo by a foreigner must be made via a transfer of funds in foreign currency from abroad. The Thai bank will issue a Foreign Exchange Transaction Form (FET), which is required to register the property with the Land Office.

Steps to Buying a Condominium

1. Find the right property

You can go through a local real estate agency or do your research online. It is recommended to visit several properties to compare services, locations and prices.

2. Legal Verification

Always have the following checked:

• The title deed (Chanote),

• The state of the building’s foreign quota ,

• The absence of a mortgage or litigation,

• Condominium fees.

Hiring a local lawyer is highly recommended at this stage.

3. Negotiation and booking

Once the property has been selected, you can negotiate the price. It is common to pay a reservation deposit (often 5 to 10%) to block the property.

4. Signing the purchase contract

The sales contract is signed between you and the seller. It must detail:

• The final price,

• The terms of payment,

• The date of transfer of ownership.

5. Payment and Transfer of Funds

The funds must come from an offshore account. The transfer must be clearly identified as a payment for the purchase of a property.

6. Transfer of ownership to the Land Office

On the day of the official transfer, the deed is amended to include your name. You will be responsible for paying the transfer fees and applicable taxes.

Costs to be expected

Here are the main costs related to the purchase:

• Transfer fee : approximately 2% of the official value,

• Mortgage registration fee (if loan): 1%,

• Specific business or stamp tax : 0.5 to 3.3% depending on the case,

• Condominium management fees .

Advantages and limitations of buying a condo

✅ Benefits:

• Full ownership possible for a foreigner,

• Relatively secure investment,

• Ease of resale or rental,

• Clear legal framework.

❌ Bounds:

• Access limited to 49% of the building,

• Need for foreign currency transfers,

• Impossible to modify the property structurally without agreement.

Conclusion: Buying a condominium in Thailand

Buying a condominium in Thailand as a foreigner is a simple, legal and secure process, as long as you follow the established rules. By respecting the quotas, by carrying out a rigorous legal check, and by surrounding yourself with competent professionals, you can enjoy a pied-à-terre in the sun or make a good rental investment.

In a future article, we will detail the necessary documents and the mistakes to avoid when buying a condo.