Condo Ownership in Thailand Explained
Buying a condominium is the only way for a foreigner to own real estate in Thailand outright, in their own name, with a full title deed. Land and houses are off-limits for direct foreign ownership — but a condo unit registered under the Condominium Act can be 100% yours, freehold, forever. Here is how it works in 2026.
Can foreigners really own a condo in Thailand?
Yes. Under Thailand's Condominium Act, a foreigner can hold freehold title to a condominium unit — the same perpetual ownership a Thai citizen gets. Your name goes on the unit's title deed (chanote), registered at the Land Office, and you can sell, rent out, or leave the unit to your heirs.
Two conditions must be met: the building must be a legally registered condominium (not just an "apartment" project), and your purchase must fit within the building's foreign ownership quota.
The 49% foreign quota
Foreigners as a group may own no more than 49% of the total sellable floor area of any condominium building. The remaining 51% must stay in Thai hands. The quota is counted by square metres of floor space, not by number of units — and since 2025 it has been clarified that separately deeded parking spaces count toward it too.
Before you transfer any money, ask the building's juristic person office for a foreign quota confirmation letter. It states how much of the quota is still available and is required by the Land Office at transfer. In popular buildings in Bangkok, Phuket or Pattaya the foreign quota can sell out — in that case your options are a leasehold or another building.
Freehold vs leasehold
If the foreign quota is full, developers often offer the same unit as a 30-year registered lease. Understand the difference before choosing the cheaper leasehold price.
A freehold unit is yours permanently, is easier to resell, and holds its value. A leasehold runs a maximum of 30 years — and a Supreme Court ruling in March 2025 confirmed that the popular "30+30+30 renewal" contracts are not enforceable beyond the first 30 years. A leasehold condo is closer to a long prepaid rental: its resale value declines as the term runs down, and financing is very hard to get. For most buyers: if freehold quota is available, take freehold.
Read more: Leasehold vs Freehold in Thailand Explained.
The FET form: bring your money in correctly
To register foreign ownership, you must prove the purchase money came from abroad in foreign currency. This is the step that trips up more buyers than any other.
Transfer the funds from your overseas account to a Thai bank, in foreign currency (the Thai bank converts to baht), with the purpose stated as "purchase of condominium unit [name/number]". For transfers of USD 50,000 or more, the receiving bank issues a Foreign Exchange Transaction (FET) form; for smaller amounts, request a bank credit advice or confirmation letter stating your name and the purpose. The Land Office will not register the unit in a foreign name without this paperwork. Paying with baht earned inside Thailand does not qualify (with narrow exceptions for permanent residents).
Step-by-step buying process
- Choose the unit and verify the building is a registered condominium with foreign quota available.
- Do due diligence: title deed check, developer reputation, outstanding common-area fees, any mortgages on the unit. A lawyer typically charges 30,000–60,000 THB for this.
- Sign the reservation and sale & purchase agreement. For off-plan units, since January 2025 developers must use the OCPB's standardized reservation contract, which bans unfair clauses.
- Transfer funds from abroad and collect the FET form / credit advice.
- Obtain the foreign quota letter and debt-free letter from the juristic person.
- Register the transfer at the Land Office. You (or your lawyer with power of attorney) sign, pay the fees, and receive the title deed with your name on the back.
Taxes and transfer costs
Who pays what is negotiable and should be fixed in the contract:
| Cost | Rate | Usually paid by |
|---|---|---|
| Transfer fee | 2% of appraised value | Split 50/50 |
| Specific Business Tax | 3.3% (if seller owned < 5 years) | Seller |
| Stamp duty | 0.5% (only if SBT doesn't apply) | Seller |
| Withholding tax | 1% (company seller) or progressive scale (individual) | Seller |
Ongoing costs are modest: common area fees (typically 40–80 THB/m²/month), a one-time sinking fund contribution at purchase, and utilities.
What about buying through a Thai company?
Don't — not for a condo, and in 2026 more than ever. Using a Thai company with nominee shareholders to hold property has been the target of an unprecedented government crackdown: since mid-2025 authorities have screened tens of thousands of companies and prosecuted hundreds for illegal nominee arrangements, and new Department of Business Development orders (effective 1 January and 1 April 2026) require proof of genuine Thai shareholder funds. Penalties range from forced sale to criminal prosecution. The beauty of a condo is precisely that you don't need any of these structures — the law gives you a clean, legal freehold path.
Will the quota rise to 75%? Will leases go to 99 years?
You may have seen headlines about raising the foreign quota to 75% and extending leaseholds to 99 years. As of 2026, neither proposal has become law — they remain announcements under study. Make your purchase decision based on the law as it stands: 49% quota, 30-year leases.
FAQ
Can I get a Thai mortgage as a foreigner? Difficult but possible — a few banks offer programs for foreigners, usually with 30–40% down payment. Most foreign buyers pay cash.
Can I rent out my condo? Long-term rentals are fully legal. Daily/short-term rental (under 30 days) generally violates the Hotel Act unless licensed.
Does buying a condo give me a visa? No. Property ownership grants no residency rights, though it can support programs like the Long-Term Resident or Thailand Privilege visas.
Can my heirs inherit the unit? Yes, but a foreign heir must also qualify under the foreign quota and, in some cases, may be required to sell within a year. Worth planning with a lawyer.
This article is general information, not legal advice. Rules change and individual situations differ — consult a licensed Thai property lawyer before buying.
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