The Foreign Buyer's Guide to Off-Plan Property in Thailand
Everything a foreign investor needs to know before reserving a Bangkok off-plan condo — quotas, payments, money transfers, taxes and the risk checklist.
Can foreigners buy property in Thailand?
Foreigners can own condominium units freehold, in their own name, as long as foreign owners hold no more than 49% of the building's saleable area — the “foreign quota”. Land, houses and townhomes cannot be owned freehold by foreigners, which is why this guide (and BaanScope's cost calculator) focuses on condos.
- ✓Freehold condo in your own name — yes, within the 49% quota
- ✓Land, house or townhome — not directly; 30-year leases or Thai-company structures exist but carry real trade-offs
- ✓Always get the remaining foreign quota confirmed in writing before you reserve
How off-plan payments work
Off-plan purchases are paid in stages, and in Thailand your money is generally not held in escrow — it goes to the developer. That makes the payment schedule and the developer's balance sheet the two things to understand before you sign.
- ✓Reservation: ฿50,000–100,000 to hold the unit
- ✓Contract (2–4 weeks later): typically 10–15% of the price
- ✓During construction: small monthly or milestone installments, varying by developer
- ✓At transfer: the remaining 70–85% plus transfer-day fees, once the building is registered
Bringing money into Thailand (FET)
To register a condo in a foreign name, the Land Office requires proof the purchase funds came from abroad in foreign currency. Your Thai bank issues a Foreign Exchange Transaction (FET) form — or a credit advice for smaller amounts — for each inbound transfer. Without these documents you cannot register foreign ownership, and you'll want them again to repatriate the proceeds when you sell.
- ✓Send funds in your own name, in foreign currency, converted to THB in Thailand
- ✓Reference the project and unit number in the transfer purpose
- ✓Keep every FET form and credit advice — permanently
Taxes & fees at transfer
Transfer day carries a predictable set of one-time costs on top of your final installment. For new off-plan units the big items are:
- ✓Transfer fee: 2% of registered value — commonly split 50/50 with the developer
- ✓Sinking fund: one-time, typically ฿500–800 per sqm
- ✓Common-area fees: usually 12 months prepaid at ฿50–80 per sqm per month
- ✓Utility meter deposits and, if you use one, your lawyer's fee
Freehold vs leasehold
Freehold means permanent ownership registered at the Land Office, available to foreigners within the 49% quota. Leasehold is a registered 30-year lease, sometimes offered when a building's foreign quota is full; renewal promises beyond 30 years are contractual, not guaranteed, and leasehold condos resell at a meaningful discount. For most foreign investors in Bangkok condos, freehold within quota is the default choice.
- ✓Freehold: permanent, within the 49% foreign quota
- ✓Leasehold: 30 years registered; renewals are promises, not rights
- ✓Leasehold resale liquidity is materially lower — price that in
Buying remotely
Plenty of foreign buyers complete a Thai off-plan purchase without setting foot in the country. Reservations and contracts are handled by courier or e-signature, payments follow the schedule by international transfer, and transfer day can be executed by a lawyer holding your power of attorney (Land Office forms). Use an independent lawyer — not one recommended by the seller.
- ✓Reserve online, sign the sale-and-purchase agreement remotely
- ✓Grant a narrowly scoped power of attorney for transfer day
- ✓Have your lawyer verify the developer, title deed and contract before the contract payment
Off-plan risk checklist
Off-plan pricing rewards early buyers, but you're buying a promise. Before signing, verify:
- ✓EIA (environmental) approval granted — construction can't legally start without it
- ✓Developer track record — all developers tracked on BaanScope are SET-listed
- ✓Construction progress against the promised completion date (BaanScope tracks published progress)
- ✓Contract terms: delay penalties, spec/material substitution clauses, maintenance-fee schedule
- ✓Remaining foreign quota confirmed in writing
- ✓Juristic rules on renting out and reselling your unit
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Frequently asked questions
- Can foreigners own condos in Thailand outright?
- Yes. Foreigners can own condominium units freehold in their own name, as long as foreign owners hold no more than 49% of the building's saleable area (the foreign quota). Land, houses and townhomes cannot be owned freehold by foreigners.
- How much deposit does an off-plan condo in Bangkok need?
- Typically a ฿50,000–100,000 reservation fee, then 10–15% of the price at contract signing, small installments during construction, and the balance (usually 70–85%) at transfer when the building completes.
- Do I need to transfer money from abroad to buy?
- Yes. To register foreign ownership, the Land Office requires evidence the funds arrived from overseas in foreign currency — your Thai bank issues a Foreign Exchange Transaction (FET) form for qualifying transfers. Keep every FET document; you need them at transfer and to repatriate proceeds when you sell.
- What taxes and fees do buyers pay at transfer?
- A 2% transfer fee on the registered value (commonly split 50/50 with the developer for off-plan), a one-time sinking fund contribution (typically ฿500–800 per sqm), and usually 12 months of common-area fees prepaid.
- Is buying off-plan in Thailand safe?
- Escrow is rare in Thailand, so developer quality is your main protection. Buy from listed developers with delivery track records, confirm the project's EIA approval, have an independent lawyer review the contract, and get the remaining foreign quota confirmed in writing before reserving.