Condominium Act B.E. 2522
Condominium Act B.E. 2534
Condominium Act (No. 3) B.E. 2542
How to Buy an Apartment
The simplest way to acquire property in Thailand is to buy an apartment or condo, which you can legally own in your name. Unlike purchasing land or villas in Thailand, you don’t need to set up a Thai company or commit to a 30-year lease.
The legal framework for this is governed by three key laws:
Under these laws, foreigners are allowed to own up to 49% of the apartments or condos in any given building.
This quota provides ample opportunity for foreigners to buy this type of property in Thailand. It's also the safest and most straightforward way to invest in Thai real estate. If the 49% foreign ownership quota in a building has not yet been reached, you can acquire the apartment in your name without issue. You will have full ownership rights and can rent, sell, or hold it as an investment.
If you want to buy an apartment in a building where the foreign ownership quota is already full, you essentially have two options: you can buy through a Thai company where you are a partner, or you can secure a 30-year lease.
Currency for Property Purchase in Thailand
You can use any currency to purchase property in Thailand. However, the funds must be transferred to your Thai bank account or directly to the developer’s account, where they will be converted to Thai Baht at the current exchange rate.
We can assist you in setting up a bank account in Thailand. Once the funds are deposited into your Thai bank account, the bank will issue a document called "Thor Tor 3" upon request. This document is required when transferring the property into your name. Without it, the Thai Land Department will not process the transfer of ownership.
Thor Tor 3 Requirements:
It must be issued in the same name as the purchase agreement.
The transfer must be made in a foreign currency, not in Thai Baht.
The amount deposited must exceed USD 5,000, or the bank will not issue the Thor Tor 3.
It must specify that the funds are solely intended for purchasing property.
General Tips for Buying an Apartment or Condo in Thailand
Best Location
The better the location, the higher the rental income and property value appreciation you can expect in the future.
Infrastructure
Proximity to schools, shops, hospitals, and other essentials for daily life is a strong consideration.
Investment Timing
Currently, we recommend investing in development projects, as these are considered the highest quality and safest options for investing in Thai real estate. We work only with verified developers who have completed several successful projects. We strongly advise caution against buying from new developers offering opportunities in their first projects.
