We explain how a foreigner can buy a property in Thailand
Are you dreaming of moving to Thailand? It suits you, but if it is the first time you will come for a long stay, renting is the easiest way to get familiar with the country. By renting a property, you will avoid many restrictive procedures that can sometimes be lengthy.
How much do you need to stay safe in Thailand? You should plan to live in Thailand on a budget of at least $1,500 per month, with $2,000 being more reasonable. This will allow you to live comfortably without breaking the bank. You can live a lot cheaper, as little as $1,000 a month, but you may have a hard time.
There are many good reasons to invest in Thailand property. The country has shown strong growth in recent years, and it looks set to continue. House and land prices are generally on the rise, as are rents, and this presents an attractive investment opportunity in the market.
Under the right circumstances, buying a condo in Thailand can be a rewarding purchase and a sound investment. If you are a foreigner interested in buying a condo in Thailand, there are several issues you should be aware of. Thai law allows foreigners to buy condos only in certain circumstances.
A 30 square meter studio room in Bangkok costs around 12,000 baht to 15,000 baht a month in residential areas such as Onnut. In business districts like Asok or Silom, the price can go up to 24,000 baht. In Chiang Mai, an apartment of the same size can cost you around 10,000 baht a month even in the capital city.
| Step | Price per m² |
|---|---|
| Between the Range | ฿70,000 – ฿89,999 |
| High-Mid-Range | ฿90,000 – ฿ 119,999 |
| The End of the End | ฿120,000 – ฿ 199,999 |
| Luxury | ฿200,000 – ฿299,999 |
Is it worth buying a condo in Thailand? Under the right circumstances, buying a condo in Thailand can be a rewarding purchase and a sound investment. If you are a foreigner interested in buying a condo in Thailand there are several issues you should be aware of. Thai law allows foreigners to buy condos only in certain circumstances.
An average one-bedroom apartment with few amenities in the suburbs of Bangkok will generally cost about 1 million baht, or about $32,000, to 2.5 million baht, or about $80,000. These numbers vary greatly depending on the location’s proximity to the city center and society passage.
In the fourth quarter of 2021, the average selling price per square meter of Bangkok in the central business district is about 240 thousand Thai baht.
The process of buying a condo in Thailand is simple, and a few requirements must be met: The property purchased must be part of the 49% of the project that can be owned by foreigners. This can be easily verified at the developer’s office directly with legal responsibility.
Given the restrictions on land ownership, foreigners cannot own a villa directly, instead they must purchase a rental agreement. Generally, this process is straightforward, and you should expect a 30-year lease offer on any villa or house, which is the average length of any lease in Thailand.
Can a foreigner buy a townhouse in Thailand? It is a common fact that although a foreigner cannot own land in Thailand, he can own a house or structure built on it. A person only has to apply for a building permit to build a house in his name.
Foreigners are not allowed to buy land in Thailand, but you can buy houses and apartments as a non-citizen. However, guests cannot occupy more than 40 percent of the apartment complex or the total number of unit owners. Interestingly, you can buy the entire building as a citizen, but not the land it is built on.
Buying a home in Thailand always requires the use of a real estate attorney who can guide you through the legal process. Thai property law is complex and for the best part unstructured. When we talk about real estate transactions in Thailand, it is common sense that the subject of sale is the land and the house.
Answer: Under Thai law, foreigners cannot own land directly in their name. However, they can buy houses outright (Freehold) or buy real estate and lease the land (usually for 30 years, with an option to extend) on which the property sits.
Expat Community in Thailand. Expats looking to join the great community of expats will find an easy home in Thailand. Thanks to its easy way of life and low cost of living, Thailand welcomes a large number of visitors every year as tourists and new residents.
Is it difficult for a foreigner to move to Thailand? When moving to Thailand, you need to obtain a visa – required by the Thai Immigration Law. Most people who move to Thailand do so with a tourist visa (valid for 60 days) or a visitor visa which is valid for 90 days and will need to be extended by Thai Immigration.
Common reasons for migration were preference for Thai lifestyle and culture, low cost of living, warm climate, and easy availability of good sex partners. Most Westerners in the country reported feeling better; half have Thai partners, and most plan to stay forever.
Travelers appreciate Thailand’s climate and low cost of living, making it a popular place to start a new life, especially for retirees. Accommodation is affordable and modern.
Buying a guest house is generally the only way that foreigners are allowed to buy real estate in Thailand directly. Other options include negotiating a long-term lease (up to 30 years) or buying real property using a Thai dummy company, a practice which, although common, is illegal in skill.
Can foreigners own houses in Thailand? Foreigners are subject to the law of the land that is prohibited from owning land in Thailand, so it is not possible for foreigners to own land and houses in Thailand. Foreigners are allowed to own a plot in a residential complex under the Companies Act.
Foreigners are not allowed to buy land in Thailand, but you can buy houses and apartments as a non-citizen. However, guests cannot occupy more than 40 percent of the apartment complex or the total number of unit owners. Interestingly, you can buy the entire building as a citizen, but not the land it is built on.
There are no restrictions on nationality and any foreigner who can enter Thailand legally (no visa class requirements) can buy and own a unit in the exclusive foreign ownership of the house, but each foreigner must personally qualify for the right property under Section 19. of the Condominium Act.
The simple answer is YES, it is legally possible! Property ownership by non-Thai people is possible with some restrictions. Foreign investors and home buyers can own condos; however, they cannot directly own land or land (i.e., Villas, Townhouses and Shops).
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