Can foreigners buy condos in Thailand?

The legal basis: the Condominium Act

Thailand's Condominium Act B.E. 2522 (1979), specifically Section 19, is what makes freehold foreign ownership possible at all. Foreigners cannot own land in Thailand under the Land Code, but a condominium unit is a distinct legal right, separate from the land title, and Section 19 permits qualifying foreigners to hold that right outright.

The 49% quota

Foreign ownership across a condominium building cannot exceed 49% of the total floor area of all units, calculated at the time each unit's ownership is registered. The remaining 51% must be Thai-owned. This is calculated by floor area, not by number of units, and applies per building — in a multi-building project, each building's quota is tracked separately.

Quota availability changes as units are bought and sold, and it is confirmed at registration, not at reservation. Get written confirmation of current quota status from the developer or the condominium's juristic person (management office) before paying a deposit — verbal assurance from a sales agent carries no legal weight.

The foreign exchange transaction form (FET)

To register freehold ownership, you must prove the purchase funds were remitted into Thailand from overseas in foreign currency. The receiving Thai bank converts the funds to Thai baht and issues a Foreign Exchange Transaction Form (commonly called an FET, and historically known as a Tor Tor 3). This document, together with your passport and the sale and purchase agreement, is required at the Land Office to register your ownership. Practical points that commonly cause registration problems:

• The transfer must be made from an account in your own name — a transfer from a spouse, family member, or company account (when you are buying as an individual) is typically not accepted as valid evidence.
• The payment reference should state the purpose as purchase of a condominium unit, ideally citing the unit number.
• Transfers above roughly USD 50,000 automatically generate an FET; smaller transfers should still carry the correct reference to be usable at registration.

Title deed

For condominium units, ownership is recorded on the Chanote (Nor Sor 4 Jor) — Thailand's strongest land title document — for the building as a whole, with your individual unit's ownership shown on a separate condominium title document. Your lawyer should verify this title is free of encumbrances before you complete.

If the quota is full

Once a building's 49% foreign quota is exhausted, further foreign buyers cannot register freehold ownership in that building. The remaining registered options are a 30-year leasehold (renewable by agreement, though renewal beyond the first term is not guaranteed by statute), or buying from an existing foreign owner whose unit already sits within the quota. We do not recommend, and this guide does not cover, using a Thai company or nominee shareholder structure to circumvent the quota — see the warning below.

Ownership is not tied to visa status

Any foreigner who can legally enter Thailand can buy and register a condo unit within quota — there is no minimum visa category or length-of-stay requirement tied to ownership itself.

Taxes and fees on resale

Selling a condo within a short holding period (commonly cited as within five years of acquisition) can trigger Specific Business Tax in addition to standard transfer fees and withholding tax, which materially affects short-term resale economics. Some sources also describe newer annual and "luxury" property tax bands introduced in 2025; we have not been able to independently confirm the specific rates cited across sources, so treat any such figures as unverified and confirm current tax rates directly with the Thai Revenue Department or a Thai tax adviser before relying on them.

Sources

• Terms.law, "Thailand Condo Foreign Quota: The 49% Rule Explained"
• Samuiforsale, "Legal Aspects of Buying & Owning Condos in Thailand"
• ThailandLawOnline, "Thailand Condominium Buying, Foreign Ownership"
• Varsovia Estate, "Thailand Property Law: Foreign Investor Guide 2026"
• Lex Bangkok, "Can Foreigners Buy Condominiums in Thailand? 2025 Update"
• Aster of Asia, "Thailand Condo Foreign Quota: 49% Rule Explained 2026"