This document provides some basic and simplified information about buying property in Thailand.
Disclaimer : We have no legal qualifications, nor are we a real estate agent. Proper advice should be sought from other (legal) sources, before engaging in real estate transactions.

You will find many hundreds of websites in our directory. Many thousands of houses and condominiums are up for sale. It may be easy to conclude that everything is up for grabs in Thailand, and that you can acquire whatever property you like. However, this is definitively not the case.

In a nutshell :
The main property law in Thailand is actually quite simple : foreigners can NOT own land.
On the other hand, you can own a unit in a condominium. However, not more than 49 % of the total space in a condominium, can be owned by foreigners.
It is possible to lease a home or a condominium for a period of 30 years.

What about the hundreds of developments, websites about properties in English? (and presumably catering towards foreigners) What about the thousands of foreigners 'owning' and living in Thai houses?

Well, until recently, the following 'construction' in acquiring land, was used :

A Thai limited company is set up, but in such a way that the participating foreigner has effective management and control of the company. The company buys the land (and the house). The foreigner then kind of owns it. From what we understand, this scheme has worked in practical terms for many years. However, it has always been illegal to begin with. What is happening now apparently, is that the Thai government, is enforcing existing laws and reviewing this whole issue.
We would advise against the use of any company, specifically set up to buy property. You may part with your money, but it is not certain you will own a thing for sure. Do not look for loopholes in the law!

When you start talking to a real estate agent, and he brings up this issue, and all the possible 'legal' possibilities, you know you have been warned. There are surely a lot of wheeler dealers in the property market in Thailand, possibly more so outside Bangkok.

For what is mentioned above, it is clearly indicated that you search for INDEPENDENT legal advice before buying any property in the country. The legal help suggested by the real estate agent (or the office next door) will simply not do.

Leasing land and a house is possible. However, the maximum duration of a lease of property is limited to 30 years. Contrary to what is often mentioned by real estate agents, there is no law that guarantees automatic renewals of a lease. So, just think of 30 years ahead only, and try to be happy with that.

As mentioned before, foreigners can own a condominium, and that seems to be a much easier option if you want to own property in Thailand. But be aware, that according to the law, foreigners can not own more than 49 % of the total space in a condominium building. The seller should provide documentation that no more than 49 % of the building space is owned by foreigners.
Be advised that foreign currency must be transferred to a Thai bank and the bank should also be advised clearly about the purpose of the money. So that a foreign exchange transaction certificate can be issued. Do not forget to act on this from the moment you send in money. Banks can be a bit less helpful if you later declare that the purpose of the money is to buy a condominium.

For much more elaborate information about property laws, taxations of property, update news on property laws etc., we strongly recommend : SamuiForSale.com
Besides legal issues, you can find our other more common sense recommendations for buying property in Thailand.

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