Can foreigners buy apartments in Thailand?

Authored by the expert who managed and guided the team behind the Thailand Property Pack

Everything you need to know before buying real estate is included in our Thailand Property Pack

Who is the author of this content?

BAMBOOROUTES

A team specialized in real estate investing in APAC countries (Japan, Thailand, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Thailand. If you'd like to learn more about us, you can check our presentation page.

How this content was created 🔎📝

At BambooRoutes, we explore the Thai real estate market every day. Our team doesn't just analyze data from a distance—we're actively engaging with local realtors, investors, and property managers in cities like Bangkok, Chiang Mai, and Phuket. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

These observations are originally based on what we've learned through these conversations and our observations. But it was not enough. To back them up, we also needed to rely on trusted resources

We prioritize accuracy and authority. Trends lacking solid data or expert validation were excluded.

Trustworthiness is central to our work. Every source and citation is clearly listed, ensuring transparency. A writing AI-powered tool was used solely to refine readability and engagement.

To make the information accessible, our team designed custom infographics that clarify key points. We hope you will like them! All illustrations and media were created in-house and added manually.

Fact-checked and reviewed by our local expert

✓✓✓

Attaya Suriyawonghae 🇹🇭

Real Estate Broker, Zest Real Estate

As a Thai Real Estate Broker based in Phuket, Attaya possesses deep knowledge of the Thai market. Her insider perspective and local connections provide invaluable insights for property investors who want to make their dream come true in the Land of Smiles. Speaking with her allowed us to go back to the blog post, improve a few elements, and include her personal insights for a richer experience.

Can foreigners legally own an apartment in Thailand under their own name?

Yes, foreigners can legally own condominium apartments in Thailand under their own name with full ownership rights.

This ownership is protected under the Condominium Act and gives you the same rights as Thai nationals for the unit itself. You receive a proper title deed (chanote) showing you as the legal owner, which can be used as collateral for loans or freely transferred to other parties.

The key requirement is that the building must be officially registered as a condominium project under Thai law. Single-family houses or townhouses cannot be owned outright by foreigners, but individual units within approved condominium buildings can be. As we reach mid-2025, this remains the most secure and straightforward property ownership option for international buyers in Thailand.

Foreign ownership is completely legal and protected, meaning you can buy, sell, rent out, or pass the property to heirs without restriction. The government cannot seize your unit, and you have full rights to any capital appreciation when you sell.

It's something we develop in our Thailand property pack.

Are there any restrictions on how much of a condo building foreigners can collectively own?

Yes, foreigners are collectively limited to owning a maximum of 49% of the total saleable floor area in any condominium building.

This means that once foreign ownership reaches 49% of all units by floor space, no additional units in that building can be sold to non-Thais. The remaining 51% must be reserved for Thai nationals or companies with majority Thai ownership.

Before making any deposit or signing contracts, you must verify that foreign quota space is still available in your chosen building. Developers and real estate agents should provide documentation showing the current foreign ownership percentage. If the 49% limit has been reached, you cannot purchase a unit regardless of your willingness to pay premium prices.

This restriction applies to the total floor area, not the number of units. A single large penthouse owned by a foreigner takes up more of the quota than several smaller studio apartments. Smart buyers check quota availability early in their search process to avoid disappointment.

Do I need a specific visa or residency status to purchase an apartment in Thailand?

No, you do not need any specific visa or residency status to purchase and own a condominium in Thailand.

Any foreigner who is legally admitted to Thailand can buy a condo, whether you're on a tourist visa, business visa, retirement visa, or any other legal status. Even visitors on visa exemption stamps can complete property purchases during their stay.

The critical requirement is not your visa type, but how you bring money into the country. You must transfer the full purchase amount from overseas in foreign currency and convert it to Thai baht through a Thai bank. This foreign exchange transaction creates the legal documentation needed for ownership registration.

Your visa status does not affect your property ownership rights once you complete the purchase. Whether you leave Thailand permanently or stay for decades, your ownership remains valid and protected under Thai law.

Is it necessary to be physically present in Thailand to complete the apartment purchase?

No, physical presence in Thailand is not strictly required to complete your apartment purchase.

You can appoint a representative using a notarized Power of Attorney to handle the entire transaction on your behalf. This representative can be a lawyer, real estate agent, or trusted individual who will sign documents and complete the ownership transfer at the Land Department.

The Power of Attorney must be properly notarized at a Thai consulate or embassy in your home country, or notarized locally and then legalized through the Thai embassy. This document gives your representative legal authority to act on your behalf for the specific property transaction.

However, being physically present offers advantages including personal oversight of the process, ability to inspect the property thoroughly, and direct communication with all parties involved. Many buyers prefer to travel to Thailand for the final signing to ensure everything proceeds smoothly.

What are the exact steps and documents needed for a foreigner to buy an apartment in Thailand?

The apartment buying process for foreigners follows eight specific steps with required documentation at each stage.**Step 1: Property Research and Selection**Research the developer's track record, verify the building's condominium registration, and confirm foreign quota availability. Request the building's Foreign Quota Certificate showing current ownership percentages.**Step 2: Reservation Agreement**Pay a reservation fee (typically 50,000-100,000 THB) to hold the unit while completing due diligence. Sign a reservation agreement outlining the terms and timeline for final purchase.**Step 3: Sales and Purchase Agreement**Sign the main contract detailing purchase price, payment schedule, completion date, and penalty clauses. Review all terms carefully, especially regarding foreign quota availability and developer obligations.**Step 4: Overseas Fund Transfer**Transfer the full purchase amount from a foreign bank account to a Thai bank in foreign currency. The Thai bank will convert the funds to baht and issue a Foreign Exchange Transaction Form (FET) as proof of overseas origin.**Step 5: Document Preparation**Gather required documents including valid passport, FET form, bank certificate confirming overseas transfer, sales agreement, and Power of Attorney if using a representative.**Step 6: Final Payment and Title Transfer**Complete final payment and register ownership transfer at the local Land Department office. Pay transfer fees, taxes, and stamp duties at this time.**Step 7: Title Deed Registration**Receive your official title deed (chanote) showing you as the legal owner. Ensure all details are correct including your name, unit number, and building registration details.**Step 8: Property Handover**Complete final property inspection, receive keys, and get all building access cards, utility account transfers, and maintenance fee information from the developer or management company.

Do I need to hire a lawyer, or can I handle the process without one?

While not legally required, hiring a qualified Thai property lawyer is strongly recommended for foreign apartment buyers.

Thai property law contains complex regulations that can significantly impact your investment if not properly handled. A lawyer will verify the developer's legal standing, confirm building registration compliance, check foreign quota availability, and review all contracts for unfavorable terms.

Lawyers also help identify potential fraud situations, which unfortunately target foreign buyers in Thailand's property market. They can spot irregular documentation, verify that developers have proper permits, and ensure funds are handled through legitimate channels.

Legal fees typically range from 30,000-80,000 THB for a standard condominium purchase, which represents excellent insurance against much larger potential losses. The lawyer handles Land Department procedures, ensures proper tax payments, and provides peace of mind throughout the transaction.

It's something we develop in our Thailand property pack.

Can foreigners get a mortgage from a Thai bank to finance an apartment, and what are the typical rates and conditions?

Yes, some Thai banks offer mortgages to foreigners, but options are limited with strict qualification requirements.

UOB Bank and ICBC Bank are the primary lenders offering foreigner mortgages as of June 2025. These banks typically require properties to be located in prime areas of Bangkok, Phuket, or Pattaya with minimum values of 2-3 million THB.

Loan conditions include maximum loan-to-value ratios of 60-70%, meaning you need at least 30-40% down payment. Interest rates range from 5-7% annually depending on your financial profile and loan currency. Most foreign loans are denominated in foreign currencies like USD or SGD rather than Thai baht.

Qualification requirements include proof of stable income (often requiring work permits if earning in Thailand), good credit history, and comprehensive financial documentation. Loan terms can extend up to 30 years, but banks prefer borrowers under 50 years old at application time.

What taxes, fees, and ongoing costs should I expect when buying, owning, and reselling an apartment in Thailand?

Cost Type	Rate/Amount	When Paid
Transfer Fee	2% of appraised value	At purchase completion
Stamp Duty	0.5% of purchase price	At purchase (if no SBT)
Specific Business Tax	3.3% (if selling within 5 years)	At resale by seller
Withholding Tax	1% for companies, progressive for individuals	At resale by seller
Monthly Maintenance	30-80 THB per square meter	Monthly to building management
Sinking Fund	300-800 THB per square meter	One-time at purchase
Property Management	5-15% of rental income	Monthly if using services

Where do most foreigners prefer to buy apartments in Thailand, and why?

Bangkok's Sukhumvit corridor attracts the highest concentration of foreign apartment buyers due to excellent infrastructure and expat amenities.

Specific areas like Thonglor, Phrom Phong, Asoke, and Sathorn offer direct BTS Skytrain access, international schools, western restaurants, and established expat communities. These neighborhoods provide urban convenience with strong rental demand from international professionals working in Bangkok's business districts.

Phuket appeals to foreigners seeking beachside living with tourism-driven rental income potential. Areas like Patong, Kata, and Bang Tao offer sea views and vacation rental opportunities, though prices command premium rates compared to Bangkok.

Chiang Mai attracts digital nomads and retirees looking for affordable living costs with cultural richness. The Nimman and Old City areas provide cafe culture, co-working spaces, and relaxed atmosphere at significantly lower prices than Bangkok or Phuket.

Pattaya and Hua Hin serve different foreign demographics, with Pattaya attracting younger tourists and investors while Hua Hin appeals to retirees seeking quieter coastal living with proximity to Bangkok.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Thailand versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.

Which cities or neighborhoods offer the best rental yields, capital appreciation, and liveability scores right now?

Bangkok's Sukhumvit areas deliver the strongest combination of rental yields and capital appreciation as of mid-2025.

Thonglor and Phrom Phong generate rental yields of 4-6% annually with steady capital appreciation of 3-5% per year. These areas benefit from completed mass transit development, established expat communities, and strong corporate rental demand from multinational companies.

Chiang Mai's Nimman district offers exceptional value with rental yields reaching 6-8% annually and rapid capital appreciation of 5-7% as the city develops its tech hub status. Lower entry prices of 60,000-80,000 THB per square meter make it attractive for first-time investors.

Phuket's Patong and Kata areas provide higher rental yields of 6-9% from vacation rentals but with more volatile capital appreciation depending on tourism cycles. These areas work best for investors comfortable with seasonal income variations.

For liveability, Bangkok's Sathorn and Silom areas score highest for urban amenities, healthcare access, and international connectivity. Chiang Mai leads for lifestyle and cost of living, while Hua Hin offers the best balance for retirees seeking peaceful coastal living.

How do apartment prices compare across Bangkok, Chiang Mai, Phuket, Pattaya, and Hua Hin today?

City	Average Price Per Square Meter (THB)	Typical Unit Price Range (THB)
Bangkok (Sukhumvit)	120,000-200,000	4-7 million
Bangkok (CBD)	150,000-250,000	5-10 million
Chiang Mai	60,000-80,000	2-3.5 million
Phuket (Beachfront)	100,000-180,000	4-8 million
Pattaya	70,000-120,000	2.5-5 million
Hua Hin	60,000-100,000	2-4 million

What are the most common mistakes foreigners make when buying apartments in Thailand, and how can I avoid them?

Foreign buyers frequently make six critical mistakes that can cost thousands of dollars or result in complete investment loss.1. **Not Verifying Foreign Quota Availability**Always confirm the building's current foreign ownership percentage before paying any deposits. Request written documentation showing quota space remains available, as some unscrupulous agents accept deposits knowing quota is exhausted.2. **Inadequate Developer Due Diligence**Research the developer's track record, financial stability, and previous project completions. Check if they have proper permits and licenses through official government databases before committing funds.3. **Improper Fund Transfer Documentation**Ensure all purchase funds come from overseas in foreign currency with proper banking documentation. Using Thai-sourced funds or informal transfers can invalidate your ownership and prevent future fund repatriation.4. **Skipping Independent Legal Review**Never rely solely on developer-provided contracts or advice. Hire an independent Thai lawyer to review all agreements, verify property legality, and protect your interests throughout the transaction.5. **Ignoring Total Cost Calculations**Budget beyond the purchase price for transfer fees, taxes, monthly maintenance, sinking funds, and ongoing utility costs. Many buyers experience cash flow problems by underestimating ongoing expenses.6. **Buying in Oversupplied Markets**Research local supply and demand dynamics before purchasing. Areas with excessive new construction may experience weak rental demand and poor capital appreciation despite attractive initial prices.

It's something we develop in our Thailand property pack.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Sources

1. Thai Embassy - Buying a Condo in Thailand
2. Property Scout - Property Ownership for Foreigners
3. BambooRoutes - Thailand Real Estate for Foreigners
4. CBRE - Bangkok Condo Ownership Law
5. Thailand Law Online - Ownership and Buying Real Estate
6. Siam Legal - Thailand Buying Condo
7. Benoit Partners - Foreigner Buying Condo in Thailand
8. Wise - Buying Property in Thailand