Buying property abroad is a big decision, especially in Thailand. The market looks attractive, and the process seems simple...
Step 1. Understand restrictions and ownership structure
Foreigners cannot own land in Thailand, but they can buy a condo if:
- the project is registered as a condominium;
- the purchase is within the foreign quota (up to 49% of the building's residential area).
Make sure the unit is in the foreign quota and check the project's legal status.
Step 2. Check the developer or current owner
Before paying a deposit, evaluate:
- how many projects the developer completed;
- whether building permits are in place;
- if there are real photos, not just renders;
- reviews on forums and buyer feedback.
For resale properties, check:
- who owns the unit;
- any outstanding utility bills;
- whether it's under the foreign quota.
Step 3. Draft and review the contract
The purchase agreement is in English. It should include:
- unit details: size, floor, number;
- payment schedule and methods;
- deposit refund terms;
- penalties for delay or breach.
Translate it into your native language and consult a lawyer or agent.
Step 4. Make the payment correctly
You can pay:
- via Thai bank account;
- through international SWIFT transfer;
- via escrow (usually with big developers).
Always write “for purchase of condominium” in the transfer purpose. This is crucial for the FET form.
Step 5. Register ownership
Registration happens at the Land Department. You’ll get the Chanote showing:
- your name (in English);
- unit specifications;
- foreign quota registration.
If you can’t attend, a notarized power of attorney can be used.
Common mistakes
- Paying deposit before checking documents;
- Buying under Thai quota;
- Signing contracts you don’t understand;
- Incorrect fund transfer instructions.
Conclusion: how to protect your deal
With the right approach, buying a condo in Thailand is a clear and secure process. Move step-by-step, work with professionals, and take your time.
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