Many foreigners are interested in making Thailand their home and start contemplating a property purchase in Thailand. Purchasing of land or a house, a villa or a condominium unit, are some options available.
As a foreign buyer, it is essential to be familiar with and comply with Thai laws relating to property purchase. That is why we recommend consulting with a property specialist.
Generally, foreigners may purchase condominiums outright, 100% freehold, but at the same time there are Condominium development quotas for foreign ownership that must be respected. The condo that will be purchased and owned 100% by a foreigner must be in the foreign allocated quota of the building.
There are also origin of funds stipulations as well as certain fees associated with condo ownership. So, although, at face value, the purchase of a condo may appear less complicated than any another property, it’s best that a property expert examine your proposed property, performing a due diligence and review the paperwork, in order to avoid any surprises. For more information please review the content on this page, Buying a Condominium in Thailand.
Foreigners are also interested in purchasing land in Thailand and want to build their dream house or villa. BUT it must be noted and made crystal clear that a foreigner may NEVER own land in Thailand. Royal decree states clearly that a foreigner may not purchase land.
There are no work arounds concerning land ownership it must be owned and controlled by Thai Juristic Person (individual or company) but there is a way to own the house or villa that is built on the land. We can advise you on how that can be accomplished. Please review the details on the following page Buying Land in Thailand
In order to secure your investment, our team of real estate experts in Thailand would be pleased to provide you the following legal assistance:
Whether purchasing a condominium, villa, land or a house, it is suggested that prior to making a purchase, please contact or visit a lawyer or solicitor to assist with your acquisition of the property. If you want more information on buying land in Thailand, buying a villa in Thailand, buying a condominium in Thailand or on real estate due diligence please do not hesitate to contact Juslaws & Consult at our Bangkok or Phuket office to learn more.