Condo Buying Cost Calculator

Yes. Foreigners can own a condo unit outright (freehold) in their own name, as long as foreign ownership in the building stays under 49% of the total floor area. Foreigners cannot own land, so houses are usually leased instead.

The 2% transfer fee is often split 50/50 between buyer and seller, but it is negotiable and should be written in the sale contract. Developers sometimes pay it as a promotion on new projects.

The seller pays withholding income tax and either specific business tax (3.3%) if they owned the unit less than 5 years or are a company, or stamp duty (0.5%) otherwise. Check the contract, as some sellers try to pass these to the buyer.

The purchase money must come from abroad in foreign currency and be converted to baht in Thailand. Ask your Thai bank for a Foreign Exchange Transaction (FET) form for transfers of USD 50,000 or more, or a credit advice for smaller amounts. The Land Office needs this proof to register a foreign owner.

A monthly common area fee for the building (often 30 to 80 THB per square metre), electricity and water, and insurance for your contents. There is also an annual land and building tax, which is usually small or zero for a home you live in.