Buying a Condo in Thailand as a Foreigner: The Complete Process

Thailand's condominium law allows foreigners to own freehold condo units — this is one of the very few forms of direct property ownership available to non-Thais. The key rule: foreign ownership in any condominium building cannot exceed 49% of the total units. Units in the remaining 51% can only be sold to Thai nationals or Thai companies. When purchasing, verify the building's foreign quota availability — your real estate agent or the juristic person's office can confirm this. The buying process: find a unit, agree a price (negotiation is expected, typically 5–15% below asking price), and pay a reservation fee (฿50,000–200,000) to take the unit off the market. Due diligence: a Thai lawyer (฿10,000–30,000 for a transaction) should check the title deed (Chanote, โฉนดที่ดิน, is the highest-quality title), confirm no encumbrances, verify the building's foreign quota, check the juristic person's finances (annual maintenance fund, outstanding repair levies), and review the sale/purchase agreement. Transfer fees at the Land Department: 2% transfer fee (usually split 1/1 between buyer and seller), 0.5% stamp duty, and 3.3% specific business tax if the seller has owned the unit less than 5 years. Payment must come from abroad in foreign currency — get a Foreign Exchange Transaction (FET) form from your Thai bank for each transfer as this document is required at title registration and proves the funds came from outside Thailand. The Land Department title registration takes 1–3 hours on the day.