Buying a Condo in Phuket as a Foreigner: Rules, Costs and Steps (2026)

What a foreigner can own

Foreigners generally cannot own land in Thailand. They can own a condominium unit freehold under the Condominium Act, as long as foreign ownership in the building stays within 49 percent of the total unit area. The other 51 percent must be Thai-owned. A unit in the foreign quota is registered in your name on the title deed, and you can sell it or pass it to heirs, although heirs must also fit the foreign rules.

A house or villa on land is different. A foreigner usually leases the land, and a registered lease has a maximum term of 30 years. Other structures exist, but the risks are high and the authorities look closely at nominee arrangements, so take independent advice and do not buy on the basis of a verbal promise.

The foreign quota

Before you pay a deposit, ask the building's juristic person, the management body, for the current foreign-owned percentage and for a quota letter confirming there is room for your unit. If a building is close to 49 percent, resale to another foreigner can be hard later. The Land Office will not register a foreign purchase without the quota confirmation.

The money must come from abroad: the FET form

To register a condo in your name, you must show that the purchase funds were brought into Thailand in foreign currency and converted to baht here. The receiving Thai bank issues a Foreign Exchange Transaction form, called the FET, and formerly known as the Thor Thor 3, for inward transfers of 50,000 US dollars or more. Smaller transfers may need the form requested and the purpose explained.

• Send the funds in foreign currency, and not in baht, even from an overseas account.
• Ask the Thai bank for the form when the money arrives, and keep the original.
• If you send the money in several transfers, you may need a form for each.
• Without the FET form, the Land Office may refuse to register the title in your name, and you may also have trouble taking the sale proceeds out when you sell.

Costs to expect

• Transfer fee: about 2 percent of the officially appraised value, often split between buyer and seller by agreement.
• Other transfer taxes: stamp duty of about 0.5 percent or specific business tax, depending on how long the seller has owned it, and withholding tax on the seller. Ask your lawyer who pays what in your contract.
• Reservation deposit: commonly 1 to 2 percent of the price.
• Building charges: common-area fees and a sinking fund, which are often collected at transfer.
• Legal fees: a lawyer's fee for checking the purchase, with figures such as 50,000 to 100,000 baht quoted for a full service.
• Furniture, utilities and any agent fees.

Figures vary by project and over time, so ask each party for a written breakdown.

Steps in a typical purchase

• Choose a building and confirm foreign quota availability.
• Check the developer, the title deed (chanote), the building registration and any debts or encumbrances on the unit.
• Sign a reservation and then a sale and purchase agreement, ideally after a lawyer has read it.
• Send the funds from abroad and obtain the FET form.
• Obtain the quota letter and the debt-free letter from the juristic person.
• Attend the Land Department office for the transfer, where buyer and seller, or their representatives with a power of attorney, sign and pay the fees.
• Register your address and arrange the utilities.

If you use a power of attorney signed abroad, it may need the legalisation process described in our documents guide.

New builds and off-plan

Buying off-plan means paying in stages before the building is finished. Check the developer's track record, whether the building permit and the land title are in order, what happens to your money if the project is delayed, and the quota position. Do not pay large sums to a personal account, and make sure payments go to the developer's company account against a receipt.

Residency and rental considerations

Owning a condo does not give you a visa by itself, although some long-stay visas allow property investment as part of the qualification. If you plan to rent the unit out, check the building's rules, because short-term letting is restricted in many buildings, and rental income can be taxable. The long-term rentals and visa pages explain related points. For a quick comparison before you buy, rent in the area for a few months, as our areas guides recommend.