Thailand (TH)
Thailand is one of the world’s largest expat hubs, combining Bangkok’s regional business ecosystem, Chiang Mai’s remote-worker scene, Phuket and Pattaya’s retirement and tourism communities, and strong international schools and hospitals.
Buying Property in Thailand
The full buying process, transaction costs, mortgage, and legal requirements.
Thailand is attractive for lifestyle property, but foreign ownership is restricted and due diligence matters more than glossy sales material. Foreigners can generally own condominium units within the foreign freehold quota, but cannot directly own land in the ordinary way. Houses, villas, leaseholds and company structures require specialist Thai legal advice. Never treat a sales-office explanation as legal advice.
Rent vs. Buy
Renting is usually better for the first 6-12 months while you learn neighbourhoods, flood risk, commute patterns, building management and visa stability. Buying can make sense for long-term residents who understand foreign quota, transfer fees, sinking funds, maintenance quality and resale liquidity. Resort markets can be cyclical, and rental-yield promises are often optimistic.
Buying Process — Step by Step
Decide legal ownership route
1-2 weeksFor most expats this means foreign-freehold condominium. Land, villas and houses require lease, usufruct, superficies or company structures, each with major limitations.
Check foreign quota
Same week if management cooperatesA condominium building can sell no more than 49% of unit area as foreign freehold. Obtain written confirmation from the juristic person and verify before deposit.
Verify title and encumbrances
1-3 weeksA lawyer should check the title deed, owner identity, mortgages, servitudes, litigation, developer obligations and building permits where relevant.
Review sales contract
1-2 weeksContracts should specify price, taxes/fees split, transfer date, furniture list, defect handling, default penalties and refund rules. Developer contracts often favour the seller.
Arrange foreign-currency transfer evidence
Before transfer dateForeign buyers of freehold condo units typically need evidence that purchase funds entered Thailand in foreign currency for the condominium purchase, often through a Foreign Exchange Transaction form or bank certificate.
Inspect before transfer
1 day to 2 weeksCheck defects, water pressure, air-conditioning, electrical load, furniture, leaks, common-area condition, sinking fund arrears and juristic-person accounts.
Transfer at Land Office
Usually same day once documents are completeBuyer, seller or authorised representatives attend the Land Office. Taxes and transfer fees are paid, and title transfer is recorded.
Post-transfer setup
1-4 weeksUpdate juristic-person records, utilities, insurance, blue book/house book records where applicable, rental-management arrangements and tax records if renting out.
Transaction Costs
| Cost Item | Amount | Notes |
|---|---|---|
| Transfer fee | Commonly 2% of official appraised value | Often negotiated between buyer and seller; contract must state split. |
| Specific business tax | 3.3% where applicable | Often applies when seller owned property for less than qualifying period or is a company. |
| Stamp duty | 0.5% where applicable | Usually not charged when specific business tax applies. |
| Withholding tax | Formula-based for individuals; 1% for many companies | Seller-side tax, but contract economics can shift costs. |
| Sinking fund and common fees | Varies by condo, often charged per sqm | Check arrears and future special assessments. |
| Legal due diligence | THB 30,000-150,000+ depending on complexity | Money well spent for foreign buyers; use an independent lawyer, not the seller office. |
| Agent commission | Usually seller-paid in resale, but market practice varies | Confirm in writing so it is not hidden in price or demanded at transfer. |
| Total transaction buffer | Budget 3-8%+ beyond price | More for complex structures, financing, new builds or villa/leasehold deals. |
The Notary — Mandatory for All Purchases
Thailand does not use a German-style notary for every property transfer. Lawyers perform due diligence and contract review, while the Land Office records transfer. Notarial services attorneys can certify signatures/documents for some purposes, but they are not a substitute for title due diligence.
Mortgage
Thai mortgages for foreigners are limited. Some Thai banks, foreign-bank branches and developer finance schemes may support expat buyers, but eligibility is narrow and loan-to-value is lower than for Thai nationals.
Many foreign buyers pay cash or use offshore financing. Where financing is available, expect larger deposits, strong income proof and currency/tenor limits.
Work permit, Thai income, local credit history and long-stay visa improve options, but do not guarantee approval. Offshore loans secured against home-country assets may be simpler. Beware developer payment plans with unclear title-transfer risk.
Land Registry
Land and condominium title records are held through the Land Department/Land Office. Condo ownership should be reflected in the unit title and juristic-person records. For land structures, title type matters enormously: Chanote is strongest; lower title forms can be unsuitable for foreign investment.
Taxes
Transfer taxes and fees are paid at the Land Office based on official appraised values and transaction details. Rental income from Thai property can create Thai tax filing obligations. Capital gains are generally handled through withholding and income-tax mechanisms rather than a simple flat capital-gains tax.
New Build vs. Existing Property
New builds offer modern amenities and staged payments but carry developer, delay and defect risks. Existing condos let you inspect the real building, juristic management, neighbours, noise, flooding and maintenance. For off-plan purchases, check developer track record and escrow/payment protections carefully.
Selling Property
Resale liquidity varies sharply by building, location, price band and foreign quota. Before buying, check historical resale listings, juristic-person finances and whether the building appeals to both Thai and foreign buyers. On sale, foreign buyers may need bank documents to remit proceeds abroad cleanly.
Useful Links
Property Buying
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