Selling Property in Phuket

TL;DR

How much does it cost to sell property in Phuket?

A seller in Phuket typically pays about 6–12% of the price: 3.3% Specific Business Tax if the property was owned for under five years (otherwise 0.5% stamp duty), withholding tax on the gain, often half of the 2% transfer fee, and an agency commission of typically 3–5%. Transfer usually happens 30–90 days after the contract.

Specific Business Tax if sold within 5 years

3.3%

stamp duty instead, when SBT does not apply

0.5%

transfer fee, often split 50/50 with the buyer

2%

typical agency commission, paid by the seller

3–5%

Every tax is settled in one go at the Land Office on transfer day, deducted from the buyer’s cheques before you receive the balance. Most are calculated on the official appraised value or the sale price, whichever is higher, so the price you write in the contract matters less than many sellers think. The sections below walk through each step, each charge, a full ฿10 million example, and the special cases: leaseholds, tenants and foreign owners who want their money back abroad.

The process

What are the steps to sell a property in Phuket?

A Phuket sale runs in seven steps: valuation and documents, preparation and listing, marketing and viewings, an accepted offer with a reservation deposit, a signed sale and purchase agreement with a deposit of typically 10%, the buyer’s checks and funds, then a one-day transfer at the Land Office. After the contract, 30–90 days to transfer is typical.

Seller costs

Which taxes and fees does a seller pay in Phuket?

The seller normally pays the Specific Business Tax (3.3%) if the property was owned for under five years, or 0.5% stamp duty otherwise, plus withholding tax: progressive for individuals, 1% for companies. The 2% transfer fee is negotiable and is very often split 50/50. Agency commission, typically 3–5%, is usually the largest single cost.

SBT and stamp duty never apply to the same sale. SBT is due when you sell within five years of acquiring the property; after five years you pay stamp duty instead. An individual who has had their name in the property’s house registration for at least one year before the sale, and used it as their home, can also be exempt from SBT even within five years — ask the Land Office in advance whether your registration qualifies.

Withholding tax is income tax on the sale, collected at source. For an individual — Thai or foreign — it is calculated on the appraised value, not on your real profit, so it is due even if you sell at a loss. For a company it is a flat 1%, later credited against the company’s corporate income tax. A resident individual can, in principle, file a return to recover tax overpaid against the actual gain; non-residents normally treat it as final.

If the buyer is a Thai individual and both the price and the appraised value are ฿7 million or less, the transfer fee is temporarily cut from 2% to 0.01% (1 July 2026 to 30 June 2027). That lowers the shared fee, not your SBT, stamp duty or withholding tax.

Worked example

What does a seller pay on a ฿10 million condo?

On a ฿10 million condo sold by a foreign individual, seller costs are about ฿821,500–1,157,500 after three years of ownership and ฿610,000–1,010,000 after six years, depending on the appraised value (assumed ฿7–10 million) and a 3–5% commission. Passing five years swaps 3.3% SBT for 0.5% stamp duty.

How the withholding tax is estimated: start from the official appraised value; deduct a standard allowance that depends on the years owned (92% for one year, 84% for two, 77% for three, 71% for four, 65% for five, 60% for six, 55% for seven, 50% for eight or more); divide the rest by the number of years owned (ten at most); apply the progressive personal income tax scale without the usual tax-free band (5% up to ฿300,000, then 10%, 15%, 20% and up); multiply by the years owned. The result may not exceed 20% of the price.

With a ฿10 million appraisal and three years of ownership: ฿10,000,000 − 77% = ฿2,300,000; ÷ 3 = ฿766,667 a year; tax on that slice is about ฿75,833; × 3 = ฿227,500. After six years: ฿10,000,000 − 60% = ฿4,000,000; ÷ 6 = ฿666,667; tax ฿60,000; × 6 = ฿360,000. With a ฿7 million appraisal the same steps give ฿121,500 and ฿190,000. Withholding tax rises with time here, but the switch from SBT to stamp duty saves far more.

Treat these as estimates. The Land Office counts years by calendar year, so a purchase in December and a sale in January of the year after next already counts as three years; the appraised value of your unit can be checked on the Treasury Department’s website or at the Land Office. Selling through a Thai company changes the picture: 1% withholding tax and SBT regardless of how long it was held, then corporate tax on the profit.

Pricing & preparation

How should you price and prepare a property for sale?

Price from evidence, not hope: compare current listings and recent sales in the same building or estate, adjust for size, view, floor and condition, and leave a modest margin for negotiation. Then fix small defects, gather every document before listing, and invest in professional photos — buyers abroad shortlist from images.

Leasehold

Can you sell a leasehold property in Phuket?

Yes, by assigning the registered lease to the buyer at the Land Office. A lessee cannot transfer the lease without the lessor’s consent unless the contract allows it (Civil and Commercial Code s.544), so check your lease first. Buyers pay for the years remaining: a lease can run at most 30 years (s.540), and renewal options are only contractual promises.

In practice, a leasehold villa or condo sells best with the lessor on board: either a lease that allows free assignment, or a lessor (often the developer) who agrees in writing to register a new lease for the buyer. Because the term only runs down, leasehold prices tend to fall as the end date approaches, so selling with 20 or more years left is easier than with ten. Our leasehold vs freehold guide explains the 30-year limit, renewals and inheritance in detail.

Selling with tenants

Can you sell a property in Phuket with tenants in it?

Yes. Under section 569 of the Civil and Commercial Code, selling a leased property does not end the lease: the buyer steps into your shoes and must honour the tenant’s contract and deposit. A tenanted home can appeal to investors, but the lease terms, the deposit and access for viewings must be agreed and written into the sale contract.

Sending money home

How do you send sale proceeds out of Thailand?

A foreign seller can remit the sale proceeds abroad through a Thai bank by showing the sale and transfer documents and, ideally, the original foreign-exchange record — the FET form or bank credit advice issued when the purchase money arrived in Thailand. Keep those papers from the day you buy; the bank converts and remits under Bank of Thailand rules.

If you are selling a freehold condo to another foreigner, the unit stays within the building’s 49% foreign quota (Condominium Act, section 19 bis) and the buyer must bring their money from abroad in foreign currency. Selling to a Thai buyer is always possible, but if you later want to buy back into a full building, the foreign quota may be gone. Our condo foreign quota guide explains how the quota and FET work for buyers.

Have the buyer pay into a Thai account in your own name, opened well before transfer day; a manager’s cheque is the norm at the Land Office. Avoid paying or receiving any part of the price outside the official transfer — it breaks the paper trail you need to remit the money.

With Empire Estates

How we help you sell your property in Phuket

We value your home against real comparables, prepare the listing with professional photos, market it to international buyers in English, French and Thai, organise viewings, negotiate, and coordinate the contract and Land Office transfer with the buyer and your independent lawyer. We work from Cherng Talay and charge no upfront fees.