Bangkok Condominium Purchase Guidelines (Updated 2025 Guide)
by WDX Properties Editorial Team
Things you should know before purchasing a condominium property in Thailand such as financial transfer procedures for foreign buyers, taxation, property transaction costs and ongoing expenses, visas for foreigners, and financing. Article by WDX Properties.
Guidelines for Purchasing a Condominium Property in Thailand
1. Financial Transfer Procedures for Foreign Buyers of Condos
Under the 1991 Condominium Act, non-residents who purchase condominium units must transfer funds from overseas in foreign currency (FX). Buyers need a Foreign Exchange Transaction Form or a bank certificate for each payment issued by the beneficiary bank. All these certificates must be presented at the Land Department to register the condominium.
2. Taxation
Individuals or companies investing in property in Thailand may be unaware of potential tax liabilities when buying or selling real estate. Foreigners commonly invest by purchasing a condominium unit in their own name or a company name, or by leasing a property. According to an analysis by Mazars, one of Thailand’s leading accounting and taxation advisory firms, all parties—whether individuals or legal entities—will be subject to Thai taxes upon selling a property.
3. Property Transaction Costs and Ongoing Expenses for Houses and Condominiums
- Transfer Fee: Typically 2% of the assessed value of a freehold property, usually split equally between buyer and seller. In some resale transactions, one party may cover the entire fee, depending on mutual agreement.
- Sinking Fund: For new condo projects, buyers pay a one-time fee upon transfer from developer to buyer. The rate (Baht 400–1,500 per sqm) covers major renovations and equipment replacements. If funds are withdrawn for renovation, the unit owner may need to replenish them.
- Utility Meter Deposit and Installment Fee: A fee for initial registration of electricity and/or water meters in new properties. For resale, a transfer of registration may also be required. Sometimes sellers ask buyers to reimburse the original meter deposit. The cost depends on the meter’s capacity.
- Lawyers’ Fees: Each party typically pays its own legal fees.
- Common Area Management (CAM) Fee: Owners pay for upkeep of shared facilities (e.g., landscaping, security). In new developments, 1–3 years of fees might be required in advance. Rates range from Baht 30–150 per sqm per month.
4. Visas for Foreigners
Foreigners can enter Thailand on various visas, including tourist, work, or retirement visas. For the latest details, consult the Ministry of Foreign Affairs and the Thai Government’s Department of Immigration.
5. Financing
Financing real estate in Thailand can be complex and subject to change. It’s advisable to check with local banks for the latest terms and conditions. Some banks offer limited loan programs to foreign buyers.
For more Bangkok condo insights, remember that WDX Properties provides a more extensive range of listings compared to other real estate websites. Whether you’re looking for a high-rise condominium or a home with more space, our team can guide you to the right options. Call +66 61 421 1596 or email sales@wdxproperties.com for personalized advice.
In this updated 2025 guide, we aim to ensure your property purchase experience is smooth and well-informed. Browse more listings with us and experience our superior service in Bangkok’s property market.
