Buying a condo in Thailand is an attractive option for many foreign nationals.

There are less nationality restrictions on condo ownership than land ownership and it is possible for a foreigner to own a condo outright.

As one of the few property rights allowed to non-Thai nationals, condo ownership is popular for investment as well as residence and retirement purposes.

What condo units are foreign nationals legally permitted to purchase?
In general, non-Thai nationals may purchase condo units in condo buildings throughout Thailand, as long as their purchase would not cause the foreign ownership ratio of combined units in the building to exceed 49% of the total floor area.  Certain condo buildings in the Greater Bangkok Metropolitan Area may not be subject to the 49% foreign ownership ratio restriction.

What are the requirements for a foreign individual to purchase a condo unit in a building in which foreign purchases are permitted?
Foreigners who do not have a Thailand residence permit must show proof that the funds for purchase of the condominium were brought from outside of Thailand.  Non-Thais who have legal residence permits are not required to show evidence of funds coming from abroad.

What is the most typical way for a foreigner to purchase a condominium in Thailand?
Most foreigners purchase a condominium by showing evidence of an incoming remittance of foreign currency into their bank account from abroad.  This is typically demonstrated by requesting the issuance of a certifying document from a bank in Thailand. In order to purchase a condominium, foreigners are required to transfer funds from overseas with funds denominated in foreign currency. Once the funds are transferred, they are required to be marked as a "condominium purchase" and needs to be verified through obtaining an "FET - Foreign Exchange Transfer" certificate (previously called "Tor Tor 3") from the receiving bank in Thailand. The FET document is required when transferring the Title Deed at the Land Department for foreigners.

Can foreigners inherit ownership of a condo?
Property ownership of a condo may be inherited by either Thai or non-Thai descendents under normal circumstances.

Are condominium long-term leases available?
Yes. Condominiums may be leased to foreigners for periods of up to 30 years and may have options to renew. Leases of greater than 3 years are required to be registered with the Land Department.  This option may be useful to acquire condominiums in buildings that have exceeded their foreign ownership ratio quota.

However, wherever possible, it is always better to buy a freehold condominium as in the case of the Parkland Sri Nakarin.


LET US KNOW IF YOU HAVE ANY QUESTIONS ?