Buying Property in Bangkok as a Foreigner

This guide offers a fundamental overview of considerations, processes, and standards for foreign buyers delving into Bangkok's real estate...

Bangkok offers an enticing investment opportunity due to several compelling factors. On one hand, the city’s vibrant culture, attractions, and exceptional lifestyle have cemented its status as a global travel hotspot. On the other hand, Bangkok stands as a bustling business hub, intrinsically tied to the dynamic Southeast Asian economy’s growth.

Adding to the allure, foreign buyers seeking real estate in Thailand benefit from a remarkably straightforward legal framework for foreign property ownership. This unique fusion of work and leisure has positioned the Thai capital as a preferred real estate destination for international buyers and expatriates alike.

However, delving into Bangkok’s real estate market can be an overwhelming adventure due to both the language barrier and the sheer expanse of the city. Non-Thai buyers are strongly advised to undertake thorough, diligent research to comprehend the local market’s standards and dynamics fully.

Achieving successful real estate investments depends on conducting personalized research. This guide is intended to assist newcomers in deciphering the intricacies of the Bangkok market.

Can Foreigners Buy Property in Thailand?

Foreign property ownership laws in Thailand might pleasantly surprise many with their relative straightforwardness.

Firstly, non-Thais can directly purchase condominium freehold property (Condo) and have their names on the title deed. This confers absolute ownership rights, enabling them to sell, enjoy, and possess the property indefinitely.

However, condominium ownership is governed by specific laws and regulations. A crucial one relates to the foreign and Thai quota: a condominium project can allocate up to 49% of ownership to foreigners, while a minimum of 51% must remain in Thai ownership. If foreign ownership surpasses the 49% mark, non-Thais can no longer acquire freehold properties within that project.

Direct ownership of land is not possible for foreigners, thereby barring them from owning landed properties like houses and villas outright. Nonetheless, there exist indirect avenues, including purchasing through a Thai Company or a Thai Spouse.

Although these methods offer indirect ownership, they come with inherent limitations and drawbacks. Thai Companies still necessitate a majority of Thai shareholders, while buying through a Thai spouse demands a level of trust.

The final option available to foreign investors is leasehold ownership. This entails restricted ownership for a defined period, with a maximum leasehold term of 30 years in Thailand. Some developers may offer automatic lease renewals, extending the leasehold period to 60 or even 90 years.

To recap:

  • Foreigners can acquire condos freehold, subject to available Foreign Quota.
  • Foreigners are unable to directly acquire land or landed properties like houses, townhouses, or villas. Indirect ownership is feasible through a Thai company or partner.
  • Foreigners can also opt for leasehold properties, with a maximum term of 30 years, extendable by some developers.

Selecting Resale Properties or Off-Plan Developments?

Another interesting side of Bangkok’s real estate market is the choice between purchasing properties on the secondary market or investing in off-plan new projects from the primary market.

In the secondary market, or with resale properties, buyers acquire completed properties directly from resellers or private landlords. On the other hand, off-plan projects involve purchasing unfinished or newly completed properties directly from residential developers.

Resale Properties

The chief advantage of buying resale properties is the transparency – what you see is what you get. Most properties are ready for immediate occupancy, a significant draw in real estate investment. Owning a tangible asset that can be inspected, assessed, and improved upon underscores the appeal. Secondary market properties are often easier to evaluate, with a quick viewing offering insights into a property’s suitability for residence or rental investment. 

Some possible challenges faced when buying resale, is given Bangkok’s hot and humid climate, property interiors, furnishings, and appliances can deteriorate quickly; this might necessitate additional investments to ensure the property is move-in ready. Older condos could demand substantial renovations to enhance the living environment.

Another drawback lies in the limited property loan options available to foreigners in Thailand. Generally, cash upfront is required for resale property acquisitions, tying up one’s funds in the real estate asset without leveraging.

Off-Plan Properties

Investing in off-plan properties entails entering a contractual agreement to take possession of a unit once the developer completes the project. Off-plan projects are especially popular among Thai and Asian buyers who prefer newly constructed properties. Off-plan investors often access lower prices that have the potential to appreciate upon completion.

Additionally, off-plan developments typically take 1-3 years to finish, with property payments spread across 2-4 installments. This delayed payment period allows buyers time to prepare or secure funds for a property purchase.

The primary risk associated with off-plan properties pertains to market downturns, potentially leading to a mismatch between premium price initially paid and the prevailing depressed market conditions. Although rare, there’s always the potential risk of a developer failing to complete the project

Essential Considerations When Searching for a Property

Investing in or purchasing a property in Bangkok shares similarities with real estate transactions worldwide. Certain fundamental factors demand careful consideration. Ultimately, whether it’s a condominium or a house, a property should not only be perceived as just an investment, it should offer a fulfilling living environment that aligns with desired lifestyle standards of future residents. 

Key Factors to Always Keep in Mind:

Proximity to Business Hubs and Mass Transit Network

A vitally important criterion is the property’s convenience in commuting to Bangkok’s bustling business districts and office hubs, as well as access to public transportation. Given the notorious peak-hour traffic, numerous Bangkok residents rely on the BTS Skytrain, MRT Underground, or Airport Rail Link (ARL) for their daily commutes. Residential complexes near Mass Transit Lines have witnessed remarkable increases in both real estate values and rental demand.

Neighborhood Dynamics and Demographics

Prudent analysis of a neighborhood’s rental and sales demand is vital. Different locales attract distinct market segments. For instance, the Chula-Samyan area caters to a substantial university student rental market due to Chulalongkorn University’s presence, a prestigious tertiary institution. Conversely, Thonglor appeals to affluent professionals due to its vibrant lifestyle and proximity to commercial centers.

Price-to-Size Ratio

Assessing a property’s relative value, particularly condos, can be straightforward by computing the price per square meter:

This is derived by dividing the total selling price by the property’s total square meterage.

Employing the property’s price per square meter facilitates comparisons with other condos within the same building or neighborhood. This metric greatly facilitates a buyers’ evaluation of whether the property is offered under market value as a discounted option or at a premium.

Developer and Building Management

In Bangkok, select developers have forged reputations for successful residential projects. Such developers give a branding advantage to specific developments, resulting in heightened demand and popularity. This holds true for publicly listed developers like Sansiri or Raimon Land.

As real estate assets appreciate over time, a robust and efficient building management team becomes increasingly significant. The management team, often referred to as the Juristic Office, safeguards the upkeep of common areas and service staff, thereby preserving the residential project’s long-term value and living environment. 

Property Specifications

Lastly, buyers should assess a property’s attributes and specifications at the foundational level. Aspects such as the property’s view, orientation, layout, and overall dimensions warrant careful evaluation. Moreover, scrutiny of interior quality, including bathroom fixtures and kitchen appliances, is pivotal to ensure compatibility with contemporary lifestyle standards.

Condominium projects in Bangkok frequently offer an array of amenities, which have become integral to Bangkok living. Consequently, evaluating amenities like pools, gyms, libraries, and gardens is crucial to assessing their appeal and functional utility to the residents. Finally, badly maintained facilities and common areas can also be signs of a deteriorating project! 

Choosing the Right Location for Your Property in Bangkok

As the age-old saying goes, “location, location, location”!

Location serves as an important factor that distinguishes a sound real estate investment from a potentially problematic one in Bangkok. This section will delve into essential considerations regarding general location and neighborhoods, catering to those seeking property within the Thai capital.

Central Business District (CBD)

Expatriates and foreigners typically gravitate toward Central Bangkok, primarily due to the Central Business District’s (CBD) concentration of business hubs, notably Asoke, Silom-Sathorn, and Rama 9.

Furthermore, the CBD offers a vibrant and diverse lifestyle, boasting an array of malls, restaurants, bars, and clubs. The majority of Bangkok’s social scene unfolds within this bustling area.

This fusion of business and leisure has led to soaring real estate prices in CBD areas or those with close proximity to it, paralleling rates in some of the world’s developed international markets.

The Central Business District generally encompasses the following districts:


Sukhumvit stands as a modern lifestyle district comprising diverse neighborhoods, each with its unique essence. Packed with shopping destinations, restaurants, eateries, and trendy hangouts, Sukhumvit is a magnet for working professionals and it offers an exhilarating lifestyle.

Neighborhoods in Sukhumvit include:

  • Nana
  • Asoke
  • Phrom Phong
  • Thonglor


Silom-Sathorn stands as Bangkok’s financial center, housing an array of financial institutions such as banks, insurance companies and fund companies. Beyond its financial significance, the district boasts a charming residential environment, complete with a rich assortment of restaurants, bars, and coffee shops.

Neighborhoods in Silom-Sathorn include:

  • Silom/Saladaeng
  • Chong Nongsi
  • Surasak


This affluent and desirable neighborhood reigns as Bangkok’s epitome of luxury, housing the city’s diplomatic quarters with numerous embassies. The area is also a vibrant shopping and entertainment hub, conveniently located near Siam.

Neighborhoods in Chidlom-Ploenchit include:

  • Ploenchit
  • Chidlom

Rama 9-Ratchada

Emerging as an extension of the CBD, Rama 9-Ratchada is a newly established business district boasting a modern and convenient living environment. This dynamic neighborhood is home to significant malls like Central Rama 9 and Fortune Town, alongside a bustling business environment with towering offices such as G-Tower, Unilever House and AIA Capital Center. 

Neighborhoods within Rama 9-Ratchada include:

  • Rama 9
  • Thailand Cultural Centre

Outer Bangkok

The surge in popularity within Central Bangkok has consequently driven property prices to remarkable heights. For those in search of superior investment returns or greater value for money, shifting attention to neighborhoods outside Central Bangkok presents an attractive alternative option. Bangkok hosts a variety of sought-after residential hubs, each teeming with potential as investments and offering appealing lifestyles.

Phra Khanong-On Nut

These neighborhoods have emerged as favored residential enclaves among working professionals that work in the Phrom Phong or Asoke business and leisure hubs. Phra Khanong and On Nut hold their appeal due to their convenient lifestyles, allowing residents easy access to Central Bangkok. Besides, these neighborhoods host various amenities, such as supermarkets, restaurants, and vibrant community atmospheres.


Situated on the western banks of the Chaophraya River, Thonburi emerges as an attractive residential address for professionals working in the Silom-Sathorn financial district. The neighborhood offers seamless access to the city’s financial districts through the BTS Skytrain or roadways. Thonburi encapsulates a tranquil living environment with an abundance of eateries and coffee shops. Moreover, the area boasts affordable condos that appeal to young professionals.

Phahon Yothin-Ladprao

Situated in North Bangkok, this region is progressively evolving into a bustling commercial and business hub. Its proximity to the Bangsue Grand Station, once fully operational, could establish it as Bangkok’s logistics and trading hub. At present, Phahon Yothin-Ladprao is vibrant, with malls like Central Ladprao and Union Mall. The area’s lively nightlife and diversity of hangout options make it appealing and desirable. 

Residents have easy access to Central Bangkok via the mass transit network. The neighborhood boasts reasonably priced condo and housing choices, making it a favorite among working professionals and young families alike.

Financing Bangkok Properties: Condos and Houses

Can foreign buyers secure property loans to buy real estate in Bangkok?

This question frequently arises and is commonly posed by non-Thais considering real estate acquisitions or investments in the city. However, it’s unfortunate that property financing such as loans or mortgages remains rather restricted for foreign purchasers.

The underlying cause lies in the directives and regulations established by the Bank of Thailand, which impose limitations on extending financing options for property acquisitions to non-Thai individuals. In most instances, the scarce financial institutions that do extend property financing necessitate that foreign buyers demonstrate a source of income or business within Thailand.

The key financial institutions offering non-Thai property loans are as follows:

  • United Overseas Bank (UOB)
  • MBK Finance

It is essential to note that foreign buyers typically aren’t granted access to the same conditions enjoyed by local Thai buyers. Specifically, loan-to-value ratios are generally higher, loan durations tend to be shorter, and interest rates lack the same level of competitiveness.

As a result, real estate purchases by foreigners in Bangkok are predominantly completed via cash transactions.

The Condo Buying Process: A Comprehensive Guide for Foreign Buyers

In this section, we’ll delve into the easiest route to property ownership: acquiring a condo.

Surprisingly, buying a condo in Bangkok is a relatively straightforward process. Here’s a simplified breakdown of the steps involved:

  1. Negotiations and Terms of Sale

As prospective buyers, it’s standard to engage in negotiations to secure favorable terms. Important details to negotiate include:

  • Selling Price
  • Sales Taxes and Transfer Fees*
  • Furniture and Appliances included in the Sale
  • Proposed Transfer Date
  • Amount of Sales Deposit

*Conventionally, the Seller is responsible for the Sales Taxes, while the Buyer and Seller equally split the Transfer Fee. However, this can serve as a point of negotiation as well.

  1. Reservation Form, Basic Checks, and Sales Deposit

After negotiating and confirming terms, securing a Reservation Form that delineates the sale’s conditions becomes crucial. Usually, this form requires supporting documents such as a Copy of the Title Deed and Seller ID. 

Additionally, if a Property Agency is involved, their company details, including Agent ID and Company Information, should be obtained. These preliminary checks ensure a secure transaction. 

Importantly, only upon receipt and mutual signing of the Reservation Form, along with the required documents, should the Sales Deposit be paid.

  1. Additional Due Diligence and Signing the Sales & Purchase Agreement

Upon settling the Sales Deposit, the Property Agency generally proceeds to draft a Sales and Purchase Agreement (SPA). 

After receiving the draft, the buyer is allotted a period for review and further ownership proof verification. During this stage, reconfirming pending matters or any existing property loans is advisable. 

If all prerequisites align, the buyer and seller sign the SPA. Following this, a 15-45 day window is typical to prepare for the transfer date.

  1. Preparing for the Property Transfer

In Bangkok, the transfer process is still an old-fashioned affair, when all parties (Buyer, seller, property agent and/or any third party) meet at the Land Department for formalization. In anticipation of this meeting, both the buyer and seller must assemble certain documents, including:


  • Debt Free Certificate, document issued by the Condo Juristic Office, attesting to the absence of outstanding payments to the building management (usually valid for 7 days).
  • Foreign Quota Certificate, from the Condo Juristic Office, verifying foreign quota availability.
  • Original Title Deed and Original Household Registration Book.
  • Original Passport or Thai ID.
  • Spouse Consent Form (if applicable).
  • Electricity Meter Deposit Receipt.
  • Condo Key Cards, Access Cards, Appliance Warranties, Parking Stickers, etc.


  • Foreign Exchange Transaction Form, confirming overseas fund transfer for property purchase.
  • Funds for Property Purchase, typically in the form of a Cashier’s Check and some cash.
  • Marriage Certificate and Spouse Consent Form (if buyer wishes to register as married).

With these documents in order, both parties are ready for the final step in the Buying Process!

  1. Transfer at Land Department

The concluding stage involves a meeting at the Land Department, comprising the buyer, seller, and property agent. Generally, all documents are ready at this stage for a smooth completion. 

The Land Officer undertakes a comprehensive document check, and upon verification, both parties are instructed to remit Sales Taxes and Transfer Fees. The transaction of taxes and fees usually occurs promptly at the Land Department. Following tax payment, the receipt is presented to the Land Officer, allowing the officialization of the sale through record updates.

Subsequently, the Title Deed is updated with the new owner’s information. Once this sequence concludes, the buyer provides a Cashier’s Check to the Seller, finalizing the transfer process!

Some post-transfer formalities include updating ownership records with the Juristic Office and transferring the electric meter owner at the MEA office.

Ongoing Expenses of Owning a Condo or House in Bangkok

Maintenance and property expenses have a significant impact on the potential rental yields of an investment property, and prospective homebuyers in Bangkok must thoughtfully assess the cost of homeownership.

Here’s a comprehensive list of potential expenses landlords may encounter in Bangkok:

Property Agency Fees

Property owners seeking to rent or sell their property usually enlist a Property Agency for assistance. In Bangkok, the standard agency commission rates are as follows:

  • 3% of Selling Price for Sales Commission
  • 1-Month Rent for a 1-year lease or 1.5 Months Rent for a 2-year lease.

(Example: If a condo rents for 10,000 THB under a 2-year lease, the real estate agent’s commission will amount to 15,000 THB)

Common Area and Management Fees

When purchasing property within a residential complex, such as a condominium or gated housing compound (often referred to as Moo Baans), Common Area and Management Fees typically apply. These fees, paid annually or bi-annually, to cover the upkeep and maintenance of communal spaces and resident services (e.g., Security Guards, building maintenance personnel, cleaners, etc.).

Maintenance Expenses and Utility Fees

Obviously a property will eventually get damaged through wear and tear, so ongoing maintenance expenses will be common. This is especially the case for condos due to the humid and hot climate which can often cause issues for fittings and appliances.   

Utility fees will usually include electricity which is charged by the Metropolitan Electricity Authority and the water bill which is usually paid directly to the Juristic Management Office. 

Property Taxes and the New Land and Building Tax

Recent years have seen the introduction of a new land and building tax for Thailand property owners. Generally targeted at large property holders, commercial landlords, and apartments, the tax’s impact remains limited for individual landlords. Bangkok property owners must pay the new land and building tax, which amounts to a minimal sum ranging from 500-5,000 THB based on property size, government appraisal value, and location.

Final Words: Purchasing a Condo or House in Bangkok

This guide offers a fundamental overview of considerations, processes, and standards for foreign buyers delving into Bangkok’s real estate. The adage “Buyer Beware” rings true—whether you’re a prospective homeowner or investor, diligent research and meticulous assessment of potential opportunities are vitally important. 

Purchasing property in Bangkok entails risks, including susceptibility to scams. It’s advisable to seek counsel from property professionals, such as reputable real estate agencies or law firms, before embarking on a property transaction. Additionally, thorough market research and exploration of various property portals, such as Dotproperty, DDproperty, and Hipflat, are vital to ensure competitive and reasonable pricing. 

Leading newspapers like the Bangkok Post and The Nation offer insightful Real Estate Sections. Periodically, real estate consultancies like CBRE and Knight Frank publish reports on the state of Bangkok’s real estate market. Independent research and self-evaluation remain paramount for informed decision-making.

With Bangkok’s rapid urban evolution, coupled with its thriving business environment and vibrant lifestyle, the city emerges as one of Southeast Asia’s most alluring real estate investment hubs. For astute and informed buyers, this amalgamation of favorable factors translates to promising property investment opportunities with attractive returns!

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