How Much Does It Really Cost to Buy Property in Phuket?

Buying a property in Phuket is an exciting step — whether it’s a condo by the beach, a private villa in the hills, or an investment unit in a rental-friendly area. But beyond the listing price, there are several hidden or extra costs that buyers often don’t consider upfront.

In this guide, I’ll walk you through the true costs of buying property in Phuket, including transfer fees, taxes, legal expenses, maintenance fees, and more — so you can make smart, fully informed decisions.

1. Property Price (Agreed Sale Price)

The price you agree to with the seller is your base cost, and in most listings, this is what’s displayed. It may or may not include furniture, depending on the deal. For off-plan projects, prices may be fixed by the developer, while resale properties often allow more room for negotiation.

Keep in mind: Thai property prices are typically listed in Thai Baht (THB), and foreign buyers usually pay by overseas transfer in foreign currency.

2. Transfer Fee – 2% of the Government Appraised Value

This is paid to the Land Office at the time of ownership transfer. The transfer fee is 2% of the property’s appraised value, which is often lower than the actual market value.

Who pays? It depends on the negotiation, but typically shared 50/50 between buyer and seller. In developer projects, the buyer often pays the full 2%.

3. Withholding Tax / Income Tax – 1% to 3.3%

This tax is usually the seller’s responsibility, but it affects the negotiation and final closing costs.

• If the seller is an individual: the tax is calculated based on personal income tax rules (between 1–3.3% of the appraised value or declared price, whichever is higher).

• If the seller is a company: 1% of the appraised or declared value (whichever is higher).

Note: While this is not your direct expense as a buyer, it may be factored into the price or passed on in negotiations.

4. Specific Business Tax (SBT) – 3.3%

This tax applies if the seller has owned the property for less than 5 years and is not using it as a primary residence.

• Rate: 3.3% of the property’s appraised value

• Usually paid by the seller, but again — this can influence the overall price or negotiation outcome.

5. Stamp Duty – 0.5%

Stamp duty is applied only if Specific Business Tax is not charged. It’s 0.5% of the appraised or declared value, and generally paid by the seller.

In some cases, especially for resale units, this may be shared or transferred to the buyer depending on the agreement.

6. Legal Fees – 20,000 to 50,000 THB (or more)

While not legally required, hiring a lawyer is strongly recommended — especially for foreigners unfamiliar with Thai property law.

Legal fees vary based on the complexity of the deal and the lawyer’s reputation. Services often include:

• Title deed and background check

• Contract review or drafting

• Due diligence on the land or building

• Coordination with the developer or seller

• Representation at the Land Office

Expect to pay anywhere between 20,000 to 50,000 THB, though premium legal firms may charge more.

7. Property Maintenance Fees (Condos or Managed Villas)

If you’re buying in a condo or a gated villa community, you’ll pay ongoing maintenance fees. These cover services like security, landscaping, pool upkeep, and common area maintenance.

• Condos: usually 40–70 THB per square meter per month

• Villas: varies by estate — some charge fixed monthly or yearly fees

Be sure to ask if these fees are prepaid annually, and whether a sinking fund (one-time contribution for major repairs) applies.

8. Furniture Package or Renovation Costs

Some resale units or off-plan condos come fully furnished. Others offer a furniture package for an additional cost — typically ranging from 150,000 to 500,000 THB, depending on size and quality.

If you're buying a resale property that needs renovation, factor in costs for:

• Painting

• Plumbing or electrical upgrades

• Kitchen and bathroom refits
  
  

9. Utility Connection and Deposits

New owners are typically responsible for transferring utility accounts (electricity, water, internet). In some cases, you may need to pay a deposit or reconnect services. This is usually a small cost, but it’s worth budgeting 5,000–10,000 THB for setup and installation.

10. Agent Fees – Usually Paid by the Seller or Developer

In most cases, the property agent’s fee is paid by the seller or developer, not the buyer. That means working with an experienced local consultant (like myself) costs you nothing extra — but gives you the benefit of local market knowledge, negotiation help, and full support throughout the process.