Buying a Foreign Freehold Property in Thailand

Buying Freehold Property in Thailand: Step-by-Step Guide for Foreigners

For many international buyers, the idea of owning freehold property in Thailand is exciting and full of potential. Whether you're looking for a lifestyle upgrade, a holiday home, or a smart long-term investment, buying property in Thailand can be a rewarding decision. However, it's important to understand the legal framework, ownership rules, and the steps involved in the purchase process. In this guide, I’ll walk you through how to buy freehold property in Thailand as a foreigner and what to keep in mind at each stage.

What Is Freehold Ownership?

Freehold means full legal ownership of the property, including the right to sell, transfer, or pass it on as inheritance. In Thailand, foreigners can legally own freehold condominium units, as long as foreign ownership in a given building does not exceed 49 percent of the total sellable area. Foreigners cannot own land in their personal name, so freehold ownership applies primarily to condominiums.

Step 1: Define Your Purpose and Budget

Start by getting clear about your goals. Are you buying a property to live in, use as a vacation home, or generate rental income? Your purpose will help determine the location, size, and style of property that suits you best. Thailand offers a wide range of options—from affordable studios in the city to high-end beachfront condos in resort areas. Establishing a clear budget will help you filter properties and avoid wasted time.

Step 2: Search for Freehold Units Within the Foreign Quota

Once your criteria are set, the next step is to look for condominium projects where the foreign freehold quota is still available. Since only 49 percent of the total project area can be sold to foreign buyers under freehold, this is an essential part of your search. Working with an experienced agent ensures you’re only shown properties that meet legal requirements and are eligible for foreign ownership.

Step 3: Reserve the Property

Once you’ve selected a unit, the seller or developer will typically require a Reservation Agreement along with a deposit to secure the property. The deposit usually ranges between 100,000 and 300,000 THB, or in some cases, around 5 percent of the purchase price. This step takes the property off the market temporarily and gives you time to complete due diligence.

Step 4: Conduct Legal Due Diligence

This step is critical and should not be skipped. It’s important to work with a licensed Thai property lawyer to conduct a thorough review of the property. This includes checking the title deed, ensuring the unit falls under the foreign freehold quota, verifying that the developer or seller has legal rights to sell, and reviewing the contract. Due diligence protects you from legal issues and helps you move forward with confidence.

Step 5: Sign the Sale and Purchase Agreement (SPA)

After the legal checks are complete, the next step is to sign the Sale and Purchase Agreement. This agreement outlines all the important details—price, payment schedule, handover date, and any included fixtures or furnishings. At this stage, a larger payment is typically required, which may range from 25 to 30 percent of the total purchase price for completed units or follow a staged payment plan for off-plan properties.

Step 6: Transfer Funds From Abroad

For a foreigner to legally register freehold ownership, the funds for the purchase must be sent from overseas in foreign currency. The receiving Thai bank will issue a Foreign Exchange Transaction Form (FET), which is required at the Land Office during the title transfer. Make sure the money is transferred in your name and is clearly marked as being for the purchase of a condominium. This step is crucial for compliance with Thai property laws.

Step 7: Complete Ownership Transfer at the Land Office

The final step is the ownership transfer, which takes place at the local Land Office. The buyer (or their appointed lawyer through Power of Attorney) and the seller will attend together to finalize the transfer. Government transfer fees and any taxes are paid during this appointment, and once completed, your name will be registered on the title deed. You now officially own freehold property in Thailand.

Important Things to Keep in Mind

Make sure to confirm the availability of the foreign quota in advance before committing to any property. Always use a professional lawyer for contract review and title deed verification. Remember that funds must be transferred from abroad in foreign currency to ensure legal compliance for foreign ownership registration. Also, understand all taxes and transfer fees beforehand—these are typically shared between buyer and seller but can be negotiated. Most importantly, work with someone local and experienced who can guide you through the process with transparency.

Final Thoughts

Buying a freehold condominium in Thailand is one of the most secure and straightforward ways for foreigners to own real estate in the country. With proper planning, legal support, and guidance from a trusted consultant, the process can be smooth and rewarding. Whether you’re purchasing your first unit or expanding your portfolio, Thailand continues to offer excellent value, lifestyle, and long-term potential.

If you're considering buying property in Thailand and want someone to walk you through the process step by step, feel free to reach out. I’d be happy to assist you with everything—from finding the right property to connecting you with trusted legal professionals.