A foreigner can own a condo outright inside a 49% quota, but not land. Condo prices run from about 60,000 baht per m² in Chiang Mai to 125,000 and more in Bangkok and Phuket.
A foreigner in Thailand can buy a condominium unit in their own name and own it outright, but cannot own land. That one rule shapes almost everything else: where you can buy, what it costs, how you hold a villa, and which shortcuts have become risky. This guide covers the rules, the price levels by city, the yield you can realistically expect, and the costs of closing. Figures are as of October 2026, in baht, and come from market and agency sources rather than official transaction registers, so treat them as indicative.
Can a foreigner buy property in Thailand?
Yes, in two main ways.
- Freehold condo: a foreigner may own a condominium unit outright as long as foreign-owned floor area in the building does not exceed 49% of the total saleable area. The quota is counted per building, by area, not by number of units, so always ask the Land Office or your lawyer whether quota is still available before you pay a deposit.
- Leasehold: where the foreign quota is used up, units, and villas on land, are often sold to foreigners on a registered lease. The longest legally enforceable registered term is 30 years. The 30+30+30 renewals that sellers mention are a contractual promise, not a guarantee.
Buying with foreign money also requires proof that the funds were sent into Thailand in foreign currency, documented on a bank transaction form (known as the Thor Tor 3). Without it the Land Office will not register a freehold condo in your name.
A proposal to raise the foreign quota to 75% and extend leases toward 99 years has been discussed. As of mid-2026 it is a proposal, not law.
What does not work any more is holding land through a Thai nominee, a Thai company or a Thai spouse who is not the real owner. On 25 August 2026 the Ministry of Interior sent provincial governors enhanced enforcement guidelines against nominee land ownership, with deadlines to sell for companies treated as foreign and criminal complaints for companies set up to hold land for a foreigner. We summarised it in Thailand tightens enforcement against nominee land ownership. If a villa deal depends on a company structure, get written advice from an independent Thai lawyer first.
Condo prices per square metre by city
These are median or typical asking prices reported by portals and agencies in 2026, per square metre of condo space. Registered prices can be lower.
- Bangkok: median about 125,000 baht per m², mean about 150,000, prime central districts (Sukhumvit, Silom, Sathorn) about 200,000 to 350,000.
- Phuket: median about 135,000 to 140,000 baht per m², west-coast prime about 170,000 to 350,000.
- Pattaya: median about 67,000 to 75,000 baht per m², beachfront towers about 100,000 to 150,000. Sources differ widely here, so compare live listings.
- Koh Samui: about 75,000 baht per m² as an island-wide blend; beachfront and branded projects are far higher.
- Chiang Mai: median about 58,000 to 63,000 baht per m², a typical unit around 3 million baht.
Convert at the current exchange rate before you compare with Europe. In rough terms, Phuket and Bangkok price like a mid-market Mediterranean city, Pattaya and Chiang Mai are cheaper, and prime beachfront on Phuket is a luxury market.
Rental yield: gross, net and the holiday-let problem
Global Property Guide put the national average gross yield at about 6.5% in the first quarter of 2026. By city, agency and portal sources give roughly:
- Bangkok: 4% to 6% gross on long-term lets, a little more in older buildings with good amenities.
- Phuket: 8% to 10% gross is quoted by agencies.
- Pattaya: 8% to 9% gross is quoted by agencies.
The Phuket and Pattaya numbers are marketing-grade. They usually describe a well-run holiday let in high season, and they depend on a rule that is easy to miss. Under the Hotel Act, renting a home for less than 30 days needs a hotel licence, and most condo buildings are residential. Reported penalties include fines of up to 20,000 baht plus 10,000 baht per day and, in principle, prison. Enforcement against individual hosts has been uneven, with crackdowns in Bangkok, Phuket and Pattaya, and many condo committees ban short lets and fine owners. Before you count on holiday income, check the building's rules and licence. Our comparison of short-term and long-term rental and the warning on guaranteed rental schemes apply fully here.
What you keep is lower. As an illustration, one portal shows a 5.14% gross yield becoming about 3% to 3.8% after common-area fees, management, maintenance and tax. For a non-resident, Thai rental income is generally taxed, with 15% often withheld at source on gross rent and a 30% standard deduction available when you file; the final tax can be lower. Ask a Thai tax adviser how it works for you and in your home country.
Purchase and ownership costs
At the Land Office the usual items are these, according to Thai law-firm summaries.
- Transfer fee: 2% of the government-appraised value, which can differ from your contract price.
- Specific business tax of 3.3%, charged on the higher of appraised value and price, when an individual sells within five years or when a company sells; otherwise stamp duty of 0.5%. The two are never paid together.
- Withholding tax on the seller's gain.
By law the split is a matter of negotiation, and in practice the parties often share it, so write it into the contract. A temporary cut of the transfer fee to 0.01% runs from 1 July 2026 to 30 June 2027 for homes up to 7 million baht, but it is reported to apply only where the buyer is a Thai individual, so do not count on it as a foreign buyer.
On top of that come lawyer fees, agent commission and, in a condo, monthly common-area fees and a sinking fund. We could not find reliable figures for these, so ask the developer or the juristic person for the actual statement of fees for the building. For the full picture see total cost of ownership abroad.
The market in 2026: slower foreign demand
Foreign demand has cooled. According to the Real Estate Information Center, condo transfers to foreigners in the first half of 2026 were 6,533 units, down 8.8% on the year, with a value of about 28.3 billion baht, down 1.5%. Chinese buyers, the largest group, fell 27.7% by value. Russian buyers went the other way, up 75.9% by value to about 3.6 billion baht, concentrated in Phuket and Chonburi, which includes Pattaya. Market write-ups also describe oversupply pressing on prices in several segments, which is good for a buyer who negotiates and a reason to be careful with off-plan promises. Read how to verify a developer abroad before any deposit.
Residency in brief
Property does not buy a standard residence permit. The Long-Term Resident visa has a property route, with a reported minimum investment of USD 500,000 for wealthy global citizens and USD 250,000 for wealthy pensioners, in a freehold condo or a lease with at least 10 years left. The regular retirement visa needs 800,000 baht held in a Thai bank, and a property does not count toward it. The Privilege visa is a paid product that is independent of any property. Check the current rules on the official sites before relying on any of them.
FAQ
Can I own a villa in Thailand? You cannot own the land. You can hold a registered lease of up to 30 years, or buy a condo or a villa inside a project that is legally structured for foreigners. Avoid nominee arrangements.
Which city gives the best yield? Agencies quote the highest yields for Phuket and Pattaya and lower ones for Bangkok, but the high numbers rely on short lets that need a licence. A long-term let in Bangkok is the steadier case.
Can I buy remotely? Yes, with a power of attorney and a Thai lawyer, but the foreign-currency transfer and the quota check must be done before registration. See buying property abroad remotely and property management for remote owners.
How we help
We shortlist condos by your goal, check whether quota and licence rules fit your plan, model net numbers after fees, tax and vacancy, and coordinate independent Thai lawyers and property managers. You can browse current options on the Thailand page. This article is informational only and is not legal, tax or investment advice; rules and prices change, so confirm them with a licensed Thai lawyer before buying.