Buying Process and Fees for Purchasing Condominiums in Thailand (Updated 2025 Guide)

Thai Property Purchase

Step 1: Property Selection and Reservation

The first step is to choose a condominium that interests you. Start by selecting a location, such as a condo for sale in Bangkok. Next, compare various options based on criteria including project location, room size, amenities, and more. Visit WDX Properties for assistance. Our consultants can help you select suitable condos for sale and assist you throughout the reservation process. The reservation fee typically ranges from THB 50,000 to THB 300,000, depending on the property’s value, and it applies to the Sales and Purchase Agreement. If you decide not to buy the condominium, please note that the reservation fee is nonrefundable.

Step 2: Sales and Purchase Agreement

Sign within 14 days after completing the reservation agreement. At this point, you can expect to pay approximately 15% to 20% of the property’s net price. The amount due on the contract signing day will include the reservation fee from Step 1.

For example, if the net purchase price of a condominium in Bangkok is THB 10 million, with a reservation fee of THB 100,000 and a contract fee of 15%, the amount due on the contract signing day will be (10,000,000 × 15%) - 100,000 = THB 1,400,000.

Step 3: Installment Payments (if applicable)

For projects still under construction, you typically need to make a 15% to 30% initial payment within 30 days of finalizing the Sales and Purchase Agreement, followed by subsequent installments based on each project’s terms and conditions. Exact terms may vary by developer.

For instance, if the down payment is 20% and is divided into four installments every three months until the project is completed, the installment amount per period would be (10,000,000 × 20%) ÷ 4 = THB 500,000 per installment.

Step 4: Loan and Completion Inspection of the Property

If you want to take out a loan to purchase a condominium, submit your application to a bank ideally one to two months before the property ownership transfer date. It is recommended to contact WDX Properties for guidance on obtaining a loan for a condominium purchase in Thailand.

Once your loan is approved, the project will schedule an appointment for you to inspect and transfer the unit. We advise you to thoroughly inspect the unit before the transfer of ownership. This is crucial because inspecting the unit prior to purchase signifies your acceptance of the construction quality. You can carry out this inspection personally or hire a professional inspection company.

Step 5: Final Payment

The final step, once the project is completed, involves the transfer of ownership, during which you will need to pay the remaining balance of the unit price. This amount is calculated by subtracting the reservation fee, contract fee, and installment payment from the total unit price. Additionally, there are other costs on the transfer day, which will be outlined in the ‘Acquisition Costs’ section.

For individual property purchases in Thailand, you need to provide the following verified documentation:

1. Proof of Identity: A copy of your passport.
2. Proof of Reservation: FET certification issued by a bank to certify the transfer of funds from abroad into a bank account in Thailand and that the funds have been converted into Thai Baht.
3. Proof of Address: The most recent three-month utility bill or bank statement, bearing the buyer’s name and residential address, is required if the buyer intends to apply for a loan.

Acquisition Costs

*Approximation can vary depending on property type, property project, size and type of amenity, etc.
** Special rates may apply under certain circumstances. Please consult with WDX Properties Residential Project Sales team for more specific information.
Source: Department of Lands and WDX Properties Residential Sales Project (Data surveyed as of March 2024)

Cost of Ownership (Yearly Expenses)

Land and Building Tax

The owners of residential property are responsible for paying land and building tax, which ranges between 0.02% - 0.1%, depending on the appraised value of the property. This tax must be paid annually in April unless otherwise notified of an extension period.

Rates are subject to change.
Source: Thailand’s new Land and Building Tax Act B.E. 2567 (Data surveyed as of March 2024)

Common Fee (Property Management Fee)

These fees, collected by the developers, are generally calculated based on the size of the property in square meters and the facilities provided by the project. In Thailand, the common fees for condominium properties range from THB 70 to THB 150 per square meter per month. For housing projects, the fees range from THB 15 to THB 30 per square meter per month.

Frequently Asked Question

1. Can a foreigner own property in Thailand?

Yes, while foreigners can directly own condominiums, owning land is restricted and typically involves leasehold arrangements or a company registered in Thailand. We strongly recommend consulting a property expert.

Foreigners can own property in Thailand in two primary ways:

a) Freehold Condominium
Foreigners can directly own a condominium unit; however, ownership is capped at 49% of the total saleable area of each condominium project. Funds for purchase must be transferred from an overseas account specifically for buying a condominium.

b) Leasehold Condominium
There is no foreign ownership limitation regarding the foreign ownership quota. Foreigners can lease a condominium unit for up to 30 years, although some developers offer lease renewal options.

2. What taxes need to be paid when purchasing real estate in Thailand?

The associated costs are determined by the type of property. For instance, purchasing a condominium from a developer involves a transfer fee (1% of assessed value), a mortgage fee (1% of the loan amount, if any) and stamp duty tax (0.5% of the registered value, typically borne by the seller).

For properties such as a house or condominium acquired under a leasehold arrangement, only a transfer registration fee (1% of assessed value) and stamp duty tax (0.1% of unit price) are required.

3. Do I need to physically be in Thailand to purchase a property?

Your physical presence is not mandatory to conclude all transaction procedures. If you wish to delegate property viewing locally to family or friends, or if you choose to personally attend, WDX Properties has a professional team available to assist you.

4. Should I use a real estate agent or try and navigate the market by myself?

In Thailand, it is recommended to use a real estate agent when navigating the market. The reason being, there is no commission on the buyer’s side, meaning the agent’s fee is paid by the seller. Consequently, there is no disadvantage to employing a reputable agent. However, selecting a trusted team is crucial and might necessitate some investigation.

Check out our new residential projects for sale in Thailand or call +66 61 421 1596, or contact WDX Properties for more information.

Disclaimer:
All content, information, and/or services in this report are provided “as is” and “as available,” serving only as an information source. All statements and expressions about the property contained in these particulars are the sole opinion of WDX Properties and are made without responsibility, representation, or warranty of any kind on our part. All descriptions, dimensions, and other details are given in good faith. Any potential purchasers or any party should not rely on them as statements of fact and must conduct their own inspections or use other means to verify their accuracy. We strongly recommend discussing any purchase or sale decision with a financial advisor or obtaining independent professional advice before making any decision. Projections, opinions, assumptions, or estimates are for example only and do not represent the current or future performance of the property. Calculations and figures are best estimates based on publicly available information.