For many international buyers, purchasing a condominium in Thailand is the most straightforward way to enter the real estate market. Condos offer the advantage of freehold ownership, making them highly attractive for investors and those looking for a holiday or permanent residence. While foreign ownership of land is restricted, Thai law allows foreigners to legally own condominium units outright, giving a clear and secure title.
How Foreign Ownership Works
Under the Condominium Act B.E. 2522 (1979), foreigners may own up to 49% of the total units in a condominium building. In some special projects, foreigners can even acquire 100% of units in specific blocks, subject to approval.
Ownership must be registered at the Land Department, and funds for the purchase must come from foreign currency transferred from abroad. The receiving Thai bank must issue a Foreign Exchange Transaction Form (FETF/Tor Tor 3) as proof. This document is mandatory for the Land Office registration and protects your legal ownership rights.
An additional advantage is that the FETF/Tor Tor 3 also enables you to repatriate your funds back to your home country when you sell the property, provided the document is properly recorded at the time of purchase. Without it, moving money back abroad can become complicated.
Key Points :
- Foreigners can own up to 49% of condominium units per building.
- Funds must be transferred from abroad.
- An FETF/Tor Tor 3 is required for registration and future repatriation of funds.
- Siam Immobilier assists with bank coordination to ensure the document is properly issued.
Benefits of Condominium Ownership
- Freehold Title: You receive an official title deed in your name, giving legal certainty and ease of resale.
- Simplified Process: Compared to landed property, condos require less paperwork and no need to navigate complex land laws.
- Amenities and Services: Many developments include pools, gyms, security, and maintenance services, adding convenience for owners and tenants.
- Rental Potential: Condos in popular tourist areas like Koh Samui can generate steady rental income if managed well.
Key Points :
Provides clear legal ownership, resale potential, easier purchase process than land/villa, and amenities increase investment appeal. Siam Immobilier helps identify high-demand areas and rental opportunities.
Considerations for Foreign Buyers
While condo ownership is simpler, buyers should be aware of the 49% foreign quota per building. Once this quota is fully sold, foreigners can only purchase leasehold units, which come with their own terms and limitations.
It is also essential to conduct proper due diligence, including verifying the developer’s credentials, confirming the building’s foreign quota, and ensuring that all documentation is complete and correct. Siam Immobilier works closely with trusted Thai property lawyers to help you navigate these steps efficiently and securely.
Key Points :
- Watch for the 49% foreign quota per building.
- Due diligence ensures legal compliance and protects your investment.
- Siam Immobilier connects buyers to reliable lawyers for verification.
Conclusion: Why Condos Are the Preferred Choice
For foreign investors and lifestyle buyers alike, condominiums remain the easiest and most secure way to enter Thailand’s real estate market. They offer legal clarity, manageable processes, and access to prime locations across urban and resort areas.
At Siam Immobilier, we specialize in guiding foreign buyers through the condo acquisition process, ensuring your funds are properly transferred, your FETF/Tor Tor 3 form is in order, and all legal requirements are met. While we cannot provide legal advice ourselves, our partnered lawyers handle all necessary legal matters, giving you confidence throughout your investment journey.
Key Points :
- Condos offer legal clarity and security for foreign buyers.
- FETF/Tor Tor 3 form is essential for registration.
- Siam Immobilier supports buyers from property selection to registration.
- Trusted lawyers manage all legal documentation.