Thailand attracts every year thousands of people fall in love with its landscapes, its culture and quality of life. Whether as a second home, investment, or retirement, many are wondering if it is possible buying property in Thailand as a foreigner.
The good news is yes, though with some important conditions to consider. In this article we explain in a clear and practical, what are your options, what areas offer the best value for money, what additional costs are there, and what risks to avoid.
Is it legal for a foreigner to purchase property in Thailand?
The thai law does not allow foreigners to buy land directly. But that doesn't mean you can't have your corner in Thailand. In fact, there are several formulas legal to do so, each with its advantages and conditions:
1. Buying a condo
It is the simplest route. Aliens may be direct owners of units in condo buildings, provided that the total of foreign units does not exceed 49% of the building. It is ideal if you are looking for legal security, low maintenance costs and high demand for rentals, especially in cities like Bangkok or Phuket.
2. Long-term lease (leasehold)
Another option is to renting a land or property for a period of up to 30 yearswith possibility of renewal. This method is often used for homes or villas, and can include provisions to inherit or sell the contract.
3. Constitution of a thai company
To create a society in Thailand, with a majority of local shareholders can afford to buy land, although it requires legal advice to comply with the law.
4. Marriage with a citizen thai
If you are married to a person of thai, you can register the property in your name, even though this leads to limitations to protect the rights of the foreign spouse.
What is the best: condo, or house?
It all depends on your plans. If you want something easy to manage and with good resale value, a condo in a downtown area or desk is the best option. On the other hand, if you dream of a villa next to the sea or a traditional house in Chiang Mai, you will need to consider options, such as the leasehold or a business structure.
In addition, you must take into account the maintenance. Condominiums tend to have centralized management and fixed odds, while the homes require more attention and variable costs.
Hidden costs and tax aspects
In addition to the sale price, there are other major expenses that you must not ignore:
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Transfer tax: 2% of the value of the property.
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Stamp tax: 0,5% if the seller has owned it for more than 5 years.
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Capital gain: calculated according to the years that the property was in the hands of the seller.
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Legal fees: it is always recommended to hire an attorney for the verification of titles and contracts.
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Condominium fees, or community: they vary according to location, amenities and size.
👉 Tip: Before you sign anything, check well the monthly expenses and the regulations of each residential development.
Best areas to invest
Thailand has a very different regions to each other, and each one has an investment profile different:
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Bangkok: ideal for those who are looking for high-demand rental, good return and proximity to services.
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Phuket: destination top for vacationers, with properties premium, villas and resorts.
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Chiang Mai: city quiet, and cultural, extremely popular with retirees and nomads digital.
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Hua Hin, Pattaya or Krabi: alternatives more accessible, close to the sea and with growing foreign interest.
Risks to consider
Although the opportunities are many, there are also risks that are worth knowing:
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Fraud real estate: always check the title of the property and the reputation of the seller or promoter.
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Legal changes: laws can change, so stay informed.
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Difficulty for resale: not all areas have good liquidity in the secondary market.
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Incidental expenses: make sure you understand all the costs of maintenance and management before purchasing.
Is it worth investing in Thailand?
Investing in real estate in Thailand a decision may be very profitable and rewarding, provided that you do so well-informed and with a clear strategy. If you're a foreigner, condos are the most secure option, but with a little planning you can also buy villas or houses.
Whether you're looking for a home tropical, an investment with a return or a home for your retirement, Thailand has something for you.
Are you interested in investing in Thailand and do not know where to start? In IURIT help you in the entire process, from the search of opportunities to the legal closure of the operation.
🔍 Contact us and find out how to buy property in Thailand safely and cost-effectively.
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