Sai Taan villa | 4 bedroom

Ownership type: Long-term lease or full ownership

Land square: 864 sq.m.

Building square: 430 sq.m.

Location area

Distance to the sea: 1 km

Is it possible for a foreigner to buy property in full ownership in Thailand?

Buying property in Thailand is a process that can raise many questions for foreigners, especially when it comes to ownership rights and property registration options. Let’s take a closer look at how one can acquire property in Phuket and what options are available for foreign nationals.

- Buying apartments in a condominium

According to Thai law, foreigners have the right to purchase apartments in condominiums in full ownership, also known as “freehold.” This means that you become the rightful owner of your apartment. The only limitation is that the share of foreign owners in one condominium cannot exceed 49% of the total number of apartments. This ensures that the majority of the property remains in the hands of Thai citizens. Alternatively, there is the long-term leasehold option (30+30+30 years).

Developers usually offer buyers the choice between two main options: “freehold” (full ownership) and “leasehold” (long-term lease). The choice depends on your preferences and long-term plans, as well as the developer from whom you are purchasing the property.

- Buying land and a villa

Acquiring land and a villa is a more complex process for foreigners, as under Thai law, land can only be fully owned by a Thai citizen or a Thai company. However, there are legal ways to acquire a villa:

1. “Leasehold”
   Long-term land lease + freehold house. In this case, you lease the land (usually for a period of up to 30 years with the option to extend) and become the full owner of the house. This is a convenient and popular option for foreigners wishing to own property in Thailand.
   
   

2. “Freehold” – full ownership of land and building through a Thai company. For this, you need to register a Thai company to which the land will be transferred. This option allows full ownership of both the land and the building but requires additional effort and consultation with legal specialists.
   
   

3. “Leasehold land + leasehold building” – this option involves long-term lease agreements for both the land and the building. It is the least expensive and simplest method of property ownership, especially if your plans involve temporary living or renting out the property. It also benefits from significantly lower taxes in case of a resale.
   
   

Conclusion:
Foreigners have several legal ways to acquire property in Thailand, and the choice depends on your personal goals and preferences. Whether it’s purchasing apartments with full ownership rights or registering a long-term land lease for a villa, it is always best to consult with professionals to choose the most suitable and safe option.

If you are considering purchasing property in Phuket, our team at Get Your Phuket will help you navigate the intricacies of local laws and offer the best options tailored to your needs.

Can third parties (legal entities or individuals) make payments under the contract?

Yes, any legal entity or individual can make payment under the contract.

What factors influence the price of real estate in Phuket?

Distance from the beach, view from the window, class of the property itself and amenities that come “included”

What taxes and fees are required when purchasing property in Phuket?

The payment of taxes and government fees will be required. A lawyer or real estate agent will help navigate all the financial aspects and ensure that you are prepared for these expenses.

How does the buying and selling transaction work when purchasing property on the secondary market

The process of purchasing property on the secondary market in Thailand includes several stages, similar to the process of acquiring property from a developer. It starts with selecting a property, verifying the ownership rights, signing the sale and purchase agreement, and ends with registering the transaction at the Land Department. An important aspect is agreeing on terms such as the payment of taxes and fees.