Buying Property & Condos in Phuket

Usual line first: I'm not a lawyer, and property is the one area where getting professional advice isn't optional. But people buy here all the time, and the rules aren't complicated once someone lays them out plainly. Here's the version I wish someone had given me.

Condos: the simple route

Foreigners can own a condo freehold, the same as a Thai owner, as long as it sits inside the building's foreign quota. By law a project can sell up to 49% of its total floor area to foreigners. Inside that quota you own the unit outright: live in it, rent it out, sell it, leave it to your kids. No expiry, no renewals. This is by far the cleanest way for a foreigner to own property in Thailand, which is why most do.

When the quota is full

If the foreign quota is full, the Land Office cannot register that unit to another foreign freehold buyer. A seller or developer may offer a lease instead, but that is a different legal interest rather than a substitute form of freehold. Compare the registered term, termination clauses and any renewal promise with independent advice before paying a deposit.

Land and villas: the catch

Here's the big one: foreign ownership of land is generally prohibited, apart from narrow statutory exceptions requiring specific approval. A house or villa transaction may instead use a registered lease, or separate ownership of the building while the land is leased. A lease can be registered for up to 30 years; a promised renewal is a contractual promise and is not the same as having the next term already registered. Use an independent lawyer to test the title, contract and exit position.

Bringing the money in

A foreign freehold buyer normally has to show that the purchase funds were remitted into Thailand from abroad in foreign currency. Depending on the amount and bank process, the evidence may be a Foreign Exchange Transaction form or another bank confirmation accepted by the Land Office. Put the buyer and purpose details on the transfer correctly, keep the remittance documents and confirm the required wording with the receiving bank before sending the money.

What it costs

Do not rely on one headline percentage. A transfer fee is calculated on the official appraised value, withholding tax depends on the seller and holding history, and either stamp duty or specific business tax may apply depending on the facts. Lease registration has its own fee and stamp-duty treatment. The sale contract decides the commercial split, but it does not change what the Land Office assesses. Ask your lawyer for a written completion statement using the current official valuation before you commit.

Do it properly

Use an independent lawyer, not the developer's or the agent's. Get the title checked, confirm the foreign quota actually has room, and look into the developer's track record before you put down a deposit. It's a small cost next to the purchase price, and it's the thing that keeps you out of trouble. For getting a feel for the areas first, the where to live guide is a good place to start.

This guide is general information, not legal advice. Property law is detailed and changes, so confirm the current rules and your own position with a qualified Thai property lawyer before you commit to anything.