Buying property in Thailand remains a major interest for international investors, retirees, and expatriates. While foreigners cannot own land directly under Thai law, condominium ownership is the one type of freehold property foreigners can legally own in their personal name.
This 2025 updated guide provides an easy-to-understand explanation of the rules, requirements, and processes involved, ensuring foreigners understand the legal framework before purchasing a condo in Thailand.
1. Can Foreigners Buy Condominiums in Thailand?
Yes. Foreigners can legally buy and own a condominium unit in Thailand, provided they comply with the Thailand Condominium Act and the foreign ownership quota.
Thailand allows foreigners to hold 100% freehold ownership of a condo unit, subject to these rules:
Key Requirements Under Thai Law
The building must be a registered condominium.
Foreign ownership in the building must not exceed 49% of total sellable floor area.
Funds used for the purchase must be transferred from overseas in foreign currency and recorded properly.
Ownership must be registered at the Land Office.
Foreigners cannot own land, but a condo unit is considered a separate property right under Thai law.
Note: The above is general legal information for educational purposes and not legal advice.
2. The 49% Foreign Quota Explained (2025 Update)
One of the most important legal limitations is the foreign quota, which restricts foreign ownership to 49% of the total unit area within the condominium project.
How the quota works
- Each condo project has a 49% maximum for non-Thai owners.
- Once the quota is full, foreigners cannot buy additional units as freehold.
- Foreigners may only buy remaining units under a leasehold structure, which is not equivalent to ownership.
Foreign buyers should always verify the quota status before signing any booking agreement.
3. Money Transfer Requirements: What Foreigners Must Know (FET Form)
Thai law requires that the purchase funds must be transferred from overseas in foreign currency, then converted into Thai Baht upon arrival.
At the receiving bank, the buyer must request a Foreign Exchange Transaction Form (FET Form) or an equivalent bank letter.
Purpose of the FET Form
- Proves the money originated from outside Thailand
- Required by the Land Office for foreign ownership registration
- Must match the purchaser’s name exactly
Minimum transfer amount
Transfers above USD 50,000 (or equivalent currency) must be recorded for the FET Form, but even smaller transfers should include the note:
“For purchase of condominium in Thailand.”
If the transfer is not done correctly, the Land Office may reject the ownership registration.
4. Required Documents for a Foreign Buyer
Foreigners must prepare the following:
For Individuals
- Passport
- Visa page (any visa type is acceptable; ownership is not tied to visa status)
- FET form / bank letter confirming foreign currency remittance
- Sale and Purchase Agreement
- Housing regulations acknowledgement (some condos require a signature)
For Foreign Companies
- Company registration documents
- Board resolution authorizing purchase
- Proof of remittance
(Additional due diligence typically applies.)
5. Leasehold vs Freehold: What’s the Difference?
| Type of Ownership | Freehold Condominium | Leasehold Condominium |
|---|---|---|
| Ownership | Full ownership of the unit | 30-year lease (renewable at discretion) |
| Registration | At Land Office | Lease agreement registered |
| Inheritance | Transferable to heirs | Transfer subject to lease terms |
| Resale Value | Higher | Limited by lease period |
| Foreign Eligibility | Allowed within quota | Always allowed |
A freehold unit is always more valuable and secure than a leasehold unit.
6. Can Foreigners Buy Multiple Condos in Thailand?
Yes. There is no restriction on the number of condominiums a foreigner can own, as long as:
- Each unit is within the 49% quota
- Funds were transferred correctly
- Ownership is registered under the buyer’s name
Foreigners can own condos nationwide without a limit on quantity.
7. Can Foreigners Rent Out Their Condos?
Yes. Foreign condo owners may legally rent out their units for long-term leases.
Important notes:
- Short-term rentals (e.g., Airbnb) may violate hotel laws unless the building has hotel licensing.
- Rental income is taxable in Thailand.
- Foreign owners may appoint a juristic person or agent for rental management.
8. Common Risks Foreign Buyers Should Avoid (2025 Update)
1. Buying in a project where the foreign quota is already full
→ Results in the buyer being forced into leasehold rather than freehold.
2. Incorrect money transfer method
→ Without a proper FET Form, the Land Office will reject registration.
3. Buying an unregistered condo project
→ Only registered condos qualify for legal foreign ownership.
4. Relying solely on the developer’s contracts
→ Buyers should seek independent contract review to avoid unfavorable terms.
5. Not performing due diligence
→ Including title deed verification, encumbrances, and building permits.
9. Step-by-Step Process: How a Foreigner Buys a Condo in Thailand (2025)
Step 1: Property Selection
Choose a registered condominium project and confirm the foreign quota is available.
Step 2: Reserve the Unit
Pay a booking fee to hold the unit temporarily.
Step 3: Review Contracts
Review the Sale and Purchase Agreement and confirm payment schedule.
Step 4: Transfer Funds from Overseas
Ensure transfers comply with FET requirements.
Step 5: Ownership Transfer at the Land Office
On transfer day:
- Buyer submits passport and FET Form
- Land Office registers the ownership
- Buyer receives the official Chanote (title deed)
Step 6: Post-Transfer
- Update juristic person records
- Begin utility connections
- Consider drafting a will for inheritance planning
10. Taxes & Fees for Condo Buyers in 2025
Typical transfer costs include:
| Fee Type | Rate |
|---|---|
| Transfer fee | 2% of the government appraisal value |
| Withholding tax | Varies (if resale) |
| Special business tax | 3.3% (if seller-owned <5 years) |
| Mortgage registration fee | 1% (if applicable) |
Developers often offer promotions where they cover certain fees; however, terms vary.
11. Inheritance Rules for Foreigners
Foreigners may inherit a condominium, but the heir must:
- Qualify under the foreign quota
- Or sell the unit if quota is exceeded
Thai law does not automatically grant permanent ownership rights to foreigners if the quota is full.
Frequently Asked Questions (FAQ)
1. Can foreigners buy condominiums in Thailand in 2025?
Yes. Foreigners can buy freehold condominium units subject to the 49% quota.
2. Do foreigners need a specific visa to own a condo?
No. Any visa type is acceptable. Ownership is not tied to visa status.
3. Can foreigners get a mortgage in Thailand?
Some Thai banks offer mortgages to foreigners, but with strict conditions. Many buyers choose cash purchases.
4. Can foreigners buy land in Thailand?
No. Foreigners cannot own land directly but can own condo units legally.
5. What happens if my money transfer doesn’t meet FET requirements?
The Land Office may reject your ownership registration. Proper transfer documentation is essential.
6. Can I rent out my condo through Airbnb?
Short-term rentals may require hotel licensing. Many condo buildings prohibit Airbnb.
Contact Lex Bangkok
Buying a condominium in Thailand is legally possible for foreigners, but the process requires careful compliance with Thai property laws, money transfer regulations, and documentation standards.
Lex Bangkok Law Firm specializes in helping foreigners purchase condos safely in Thailand.
- Contract review
- Title deed verification
- Foreign quota checks
- Money transfer compliance guidance
- Representation at the Land Office
- Land and title deed investigation
Contact Lex Bangkok today for professional legal assistance before you buy your condo in Thailand.
info@lexbangkok.com