What foreigners can buy
Foreigners cannot own land directly in Thailand, but can own a condominium unit freehold — full ownership recorded on the unit title deed, which can be sold, gifted or inherited.
The one limit: under the Condominium Act, foreigners combined may own no more than 49% of a project's saleable area; the other 51% is for Thai nationals. In projects popular with foreign buyers the quota sells quickly, so confirm availability when reserving.
Freehold vs leasehold
Foreign freehold — perpetual ownership within the foreign quota. The most secure and liquid option for condos.
Leasehold — a long lease registered at the Land Department for up to 30 years; renewals are usually written into the contract but are not guaranteed by law. Used when the foreign quota is full, and for villas.
Transferring funds
For freehold, purchase funds must come from abroad in foreign currency and be converted to baht by a Thai bank. The bank issues proof — for larger amounts a Foreign Exchange Transaction (FET) form. It is required at title registration, so state "purchase of condominium unit" and the unit number as the payment purpose.
You can pay in instalments according to the developer's schedule; follow the same rules for each transfer so the proofs add up to the full price.
Transfer fees and taxes
- Transfer fee — 2% of the appraised value; for new developments it is often split 50/50 between buyer and developer.
- Specific business tax 3.3% (if the seller held the property under 5 years) or stamp duty 0.5% — usually paid by the seller.
- Withholding tax — deducted from the seller.
- Who pays what is set in the sale and purchase agreement — check this clause.
New condo buyers also pay a one-off sinking fund and a monthly common area maintenance (CAM) fee per sq.m.
Steps to buy off-plan
- Choose a unit and confirm foreign quota availability.
- Reserve with a deposit to lock the unit and price.
- Sign the sale and purchase agreement — payment schedule, timeline, specification, obligations.
- Pay instalments during construction via transfers from abroad.
- Inspect and accept the unit on completion.
- Register the transfer at the Land Department, pay fees and receive the unit title deed.
Renting out
Foreign owners can rent out their unit; rental income is taxable in Thailand. Note that short-term rentals under 30 days legally require a hotel licence — check the project's rules and use a management company. Monthly and long-term rentals do not.
Guide rates in Karon and Kata: a 1-bedroom rents for about 30,000 THB/month in low season and 60,000 THB in high season. See The Kuartz and Fizz for details.
Does buying give a visa?
Buying a condo does not by itself grant a visa or residency in Thailand. For long stays people use separate programmes such as Thailand Privilege (formerly Elite), the LTR visa or a retirement visa.
Why buy at pre-launch
Buying before launch gives first pick of units and foreign quota, and typically the best prices and payment terms. The risk is the construction timeline, so choose a reliable developer and read the contract carefully.
Two AssetWise projects are currently at pre-launch: The Kuartz by Karon Beach (189 units, 400 m to the beach) and Fizz by Kata Beach (135 units with a clubhouse). Planned completion is Q1 2029.
