How to Buy a Condo in Foreign Ownership in Thailand
Purchasing a condominium in Thailand under foreign freehold ownership is the most straightforward property purchase available to non-Thai nationals. Here is a clear overview of the process from start to finish.
Step 1 — Find the Right Property Browse available condominiums and confirm with the agent or developer that the unit falls within the building’s foreign ownership quota. By Thai law, a maximum of 49% of the total floor area of any condominium building can be held under foreign freehold title.
Step 2 — Confirm Foreign Quota Availability Before proceeding, your agent or lawyer should verify with the juristic office of the building that foreign quota is still available for that specific unit.
Step 3 — Make an Offer & Sign a Reservation Agreement Once you have selected your property, a reservation agreement is signed and a deposit — typically between 50,000 THB and 200,000 THB — is paid to secure the unit and take it off the market.
Step 4 — Due Diligence Your lawyer will review the title deed (Chanote), check for any outstanding debts or encumbrances on the property, verify the building’s juristic status, and confirm all documentation is in order.
Step 5 — Sign the Sale & Purchase Agreement A formal Sale and Purchase Agreement is drawn up between buyer and seller outlining the agreed price, payment terms, and transfer date. A further deposit is typically paid at this stage.
Step 6 — Transfer Funds from Abroad This is a critical step for foreign buyers. The full purchase amount must be transferred to Thailand in a foreign currency and converted to Thai Baht. Your bank will issue a Foreign Exchange Transaction (FET) certificate — formerly known as a Thor Tor 3 — which is a required document at the Land Department to prove the funds originated from outside Thailand.
Step 7 — Transfer of Ownership at the Land Department On the agreed transfer date, both buyer and seller attend the Land Department Office. All fees are settled, documents are signed, and the title deed is transferred into the buyer’s name. The buyer receives the Chanote (title deed) with their name registered as the new owner.
Step 8 — Post Transfer Following the transfer, notify the building juristic office of the change of ownership and arrange for utility accounts, common area fees, and any other building obligations to be transferred to your name.