Property in Thailand: buying and support

There is no annual property tax in the usual sense — there is a land and buildings tax at low rates for housing. On transfer: a 2% registration fee plus the seller's taxes.

On transfer of title the following apply: — a 2% transfer fee on the government appraised value. For housing under THB 7 million a reduced rate of 0.01% applies until 30 June 2026; — specific business tax of 3.3% if the property has been held for less than five years, or stamp duty of 0.5% where the business tax does not apply; — withholding tax: 1% when buying from a company, or on a progressive scale from an individual. Government charges normally total between 2.5% and 6.3% of the appraised value. Formally most of them sit with the seller; in practice the transfer fee is often split and the seller's taxes are built into the price.

1. Check the foreign quota in the specific building — in writing, from the management company or the Land Department. A verbal assurance from the sales office is not enough. 2. Reserve the unit and sign the contract. 3. Transfer the funds from abroad in foreign currency. This is mandatory: the bank issues an FET form, without which the unit cannot be registered to a foreigner. 4. Run legal checks on the property and the seller. 5. Register the transfer at the Land Department and receive the chanote. Legal support for a transaction usually costs THB 30,000–80,000.

Thai banks rarely lend to non-resident foreigners. The practical options are a developer payment plan or a loan from a bank in your country of residence.

Buying property in Thailand does not grant residency and is not a basis for a visa. This is a fundamental difference from the UAE, Greece and Cyprus. Long stays are arranged separately: the LTR visa for professionals and high-income applicants, the retirement visa for those over 50, or the Thailand Privilege programme. Owning a condominium may support a claim of ties to the country, but is not a ground in itself.

The key distinction is freehold versus leasehold. A unit within the 49% foreign quota is held in full ownership and is more liquid on resale. Where the quota is taken, the developer offers the same unit on a 30-year registered lease: you get the right to use it, but it is not ownership, and it is worth less on the secondary market. When modelling short-let income, allow for the pronounced seasonality of resort locations and the management company's fee.

What you need to know before the deal: — a foreigner cannot own land (Land Code, section 86), so a villa "in ownership" is structured through a land lease or a Thai company — the second route is challengeable if structured badly; — the maximum lease term for property is 30 years; a longer lease is reduced to 30 by operation of law, and a promised "renewal" is a contract term, not a statutory guarantee; — a proposal to raise the foreign quota to 75% and leases to 99 years is under discussion but had not become law as of 2026. Do not build your case on it passing; — the quota is checked at registration: if it is full, ownership cannot be registered. Checked in September 2026. Thresholds, rates and programme terms change — confirm the current requirements with a lawyer in the country before you buy.