Buying property in Phuket as a foreigner
What you can own, what it costs, and how the purchase works, in plain language.
Last updated
General information, not legal advice. Rules change; have an independent Thai lawyer check your contract before you pay.
Can foreigners own property?
Condominiums — yes, freehold. Foreigners can own a condo unit in their own name, provided foreign ownership in the building stays within 49% of the total unit floor area. You must show the money came into Thailand from abroad in foreign currency; the bank issues a Foreign Exchange Transaction form for this. Tilleke & Gibbins
Land — no, but you can lease it. Foreigners cannot own land. A lease can run for up to 30 years and must be registered at the Land Office if longer than three years. A renewal for another 30 years can be agreed in the contract, but it is a contractual promise, not a right under the law. You can own a house built on leased land. Tilleke & Gibbins
Thai company — only when it’s genuine. A company that is majority Thai-owned can own land. Thai shareholders who are only nominees, with no real investment, make the structure illegal, and the land can be lost.
Proposed changes. A 75% condo quota and 99-year leases have been studied since 2024, but are not law as of October 2026. The Thaiger
What does it cost?
These are the usual government fees and taxes at transfer. Who pays which is agreed in the sale contract; for new projects the developer’s terms usually apply.
| Cost | Rate | Notes |
|---|---|---|
| Transfer fee | 2% of the official appraised value | Often split between buyer and seller |
| Specific business tax | 3.3% of the higher of sale price or appraised value | Applies if the seller has owned the property for less than 5 years |
| Stamp duty | 0.5% | Only when specific business tax doesn’t apply |
| Withholding income tax | Varies | Paid on the seller’s side |
| Lease registration | 1% of total rent, plus 0.1% stamp duty | For leasehold villas and houses |
Sources: ILCT tax brief for foreigners (business tax and stamp duty), Pearl Property Thailand (transfer and lease registration fees).
Running costs include a monthly common-area fee, a one-off sinking fund for condos, utilities and, if you rent out, management fees and income tax on rental income.
How buying works
- Reserve. A reservation fee holds the unit. Get in writing whether it is refundable.
- Check. An independent lawyer checks the title deed, construction permits, the developer and the contract.
- Sign. You sign the sale or lease contract and pay the first instalment.
- Pay in stages. Off-plan projects are paid as construction progresses. For a freehold condo, send each payment from abroad in foreign currency and keep the bank forms.
- Transfer. Ownership or the lease is registered at the Land Office, the fees are paid, and you receive the keys.
Questions buyers ask us
Which areas have the most potential?
For a mix of beach, services and new investment, the north-west — Bang Tao and Kamala — is where we focus. See our market update and area guides for Bang Tao and Kamala.
What rental yield is realistic?
It depends on the individual property more than the market. Ask for the nightly rates and occupancy behind any projection, and be careful with returns “guaranteed” by the seller.
Can I get a visa by buying property?
Buying property does not by itself give you a visa. Thailand has separate long-stay visa programmes; check the current rules with an immigration lawyer or a Thai embassy.