Buying on the Thai islands: the back story

Foreigners who want to own property in Thailand have few options, in the Thai government’s own words. The Condominium Act B.E. 2551 (2008) allows foreigners who enter Thailand legally to buy and own a condominium unit, as long as foreign ownership in a building does not exceed 49% of the space of all its units. Land is a different matter (thailand.go.th).

Condominiums

Under the Condominium Act B.E. 2551 (2008), foreigners or juristic persons who enter Thailand legally, or under the Investment Promotion Act, may buy and own a condominium unit; in total, foreigners may not own more than 49% of the space of the whole units in any one condominium. The government’s example: in a building of 1,000 units, 490 can be sold to foreigners (thailand.go.th, source: the Real Estate Information Center).

Land

Foreigners are generally prohibited from owning land. Section 96 bis of the Land Code allows a limited exception: a foreigner who invests at least 40 million baht in a qualifying investment, held for at least five years, may buy up to one rai for residence only, in designated areas and outside military zones (thailand.go.th).

Check the building’s foreign quota before you fall in love with the view.

On the islands

Most homes offered to international buyers on Phuket are condominiums, apartments and villas in resort communities such as Laguna Phuket at Bang Tao and the marinas of the east coast; on Samui, villas on the hills above the north and east coasts. Our property list names the consultancies and developers; we never publish prices.

Before you sign

Work with a licensed agent and an independent lawyer; ask the building’s juristic office for its current foreign quota; and keep the bank documents for the money you bring into Thailand.

Our advice: take independent legal advice from the start, especially for anything other than a condominium unit. Our page Buying property in Thailand sets out the official rules in full.