Buying property in Phuket as a foreigner

Identify exactly what you would acquire

Start by distinguishing a registered condominium unit, a building, land rights and contractual lease rights. Foreigners who meet the statutory conditions may own a unit in a registered condominium, subject to the foreign-ownership limit of 49% of the condominium's aggregate unit area. Foreign land ownership is generally restricted. An apartment marketed as freehold is not sufficient proof that the proposed buyer and unit qualify.

Sources for this section: [1]

Do not equate a lease with ownership

Freehold and leasehold describe different rights. A lease provides contractual rights for its registered term, not ownership of the underlying asset. Under Thailand's Civil and Commercial Code, a lease of immovable property generally may not exceed 30 years. Future renewals are not automatic ownership or guaranteed extensions. Have independent Thai counsel review the proposed term, registration, assignment, inheritance and renewal provisions.

Sources for this section: [2]

Review the reservation before sending money

Ask who receives the payment, what unit it reserves, whether the amount is refundable and what conditions apply if checks reveal a problem. Establish the seller's authority and obtain the draft agreement and supporting documents. Avoid treating a reservation form as a harmless expression of interest: payment and signature may create obligations before the full purchase contract is signed.

Prepare the costs and transfer documents

Request an itemised transaction-specific estimate of transfer-related charges, applicable taxes, professional fees, common charges, reserve contributions and furnishing costs. Confirm the funds-transfer evidence and Land Office documentation required for your ownership route with the lawyer and relevant institutions before transferring funds. The advertised asking price does not establish your final all-in cost.

Sources for this section: [1] [3]

Confirm personal use and rental restrictions

A property suitable for occasional holidays may not allow the rental model assumed in a sales presentation. Review condominium rules, lease restrictions, management agreements and the applicable permissions for short stays. Visa or immigration rights are a separate question from acquiring property; a purchase alone should not be treated as proof of permission to reside or work in Thailand.

Sources for this section: [4]

Coordinate an independent professional team

Freedom Group can help select properties, compare offers, negotiate and coordinate an acquisition under agreed written terms. Independent Thai lawyers advise on legal rights and contracts; technical inspectors and tax advisors address their own scopes. Company or nominee arrangements must not be used to bypass foreign ownership restrictions. Confirm each professional's responsibility, fees and conflicts before relying on their work.

Sources for this section: [5]