Can a foreigner buy a condo in Thailand?
Foreigners looking to buy a condo within Thailand can follow a very simple investment process. The Thailand Condominium Act was introduced in 1979 meaning that foreigners can legally own a freehold condo in Thailand.
The rules specifically allow foreigners to own 49% of all available units with in a condominium under a freehold structure. For example, if a condominium building had 100 units, then 49 units can be sold to foreigners outright under the freehold structure. This has allowed over 20% of all condominiums in Bangkok to be sold to overseas foreign investors.
The easiest way for foreigners to purchase condo’s in Thailand is through the Freehold structure, but if the allocation of 49% has already been exceeded, units may be leased to foreigners under a 30-year leasehold agreement. There are some contracts that include renewal options to allow the lease to be extended to 90 years (3 x 30 years).
As with any real estate investment anywhere in the world, we recommend to seek good legal counsel to fully understand your options and ensure that you are legally protected.