Property in Thailand · Phuket

Yes. Foreigners can own condominiums freehold in their own name, provided no more than 49% of a building's total floor area is foreign-held (the foreign quota). Villas sit on Thai land, so foreigners typically take a long registered leasehold instead. In Phuket, freehold beachside condos and leasehold pool villas are the two standard routes for overseas investors.

Transaction costs are low, at roughly 2-3% of the price. The main charge is a 2% transfer fee on the Land Department appraised value, plus modest stamp duty or a 3.3% specific business tax on resale within five years. There is no VAT on residential property, keeping Phuket's entry costs among the lowest in Asia.

Non-resident rental income is taxed at a flat 15% (usually collected as withholding), well below most European rates. Owners also pay a small annual Land & Building Tax of just 0.02-0.1% for residential use. Thailand has no separate capital gains tax; instead a withholding tax applies at the point of sale, calculated on the appraised value.

Property alone does not grant residency, but buying a freehold condo worth at least 3 million baht (about $85,000) can help qualify you for the 10-year Long-Term Resident (LTR) visa. Alternatively, the Thailand Privilege (Elite) visa starts at 650,000 baht (around $18,700) for five years, offering long-stay residence independent of any purchase.

Phuket typically delivers 6-8% gross yields on long lets and 8-15% on short-term holiday rentals, with capital growth around 8-10% per year. Well-run pool villas net roughly 8%, and short-let occupancy runs above 70%. Phuket is forecast to outpace Bangkok, driven by five-star resort demand and steady international tourism.

Off-plan purchases are staged: you reserve a unit, sign the sale contract, then pay in instalments tied to construction milestones, with the balance due at completion and title transfer. Foreign condo buyers must remit funds from abroad in foreign currency to secure freehold title. INOVO's Phuket projects include Sudara Residences, Serenity Naiyang, Cielo Rawai and Casa de Monte.

Not on a daily or weekly basis unless the building holds a hotel licence. Under Thailand's Hotel Act, lets shorter than 30 days require that licence, and Phuket enforces it - penalties start at THB 20,000 plus a daily fine while the breach continues. The two legal routes are to buy into a project that runs a licensed hotel or resort rental programme, or to let for 30 days and longer.

A lease can be registered against the title for a maximum of 30 years, and that registered term is genuinely strong. The common '30+30' renewal is a contractual promise from the seller rather than an automatic right, and Thai courts have not reliably enforced pre-agreed renewals against a later landowner. Treat the first 30 years as the asset you are buying, register the lease at the Land Office, and check who controls the land-owning entity.

Rarely from a domestic Thai bank. A small number of lenders offer foreign-currency loans to non-residents, usually through overseas branches and at conservative loan-to-value. There is also a practical catch: freehold condo purchases require the money to be remitted into Thailand from abroad in foreign currency and evidenced on the FET form, so any financing has to be structured around that. Most buyers use cash or the developer's staged payment plan.

Two recurring items, plus one at purchase. The common area maintenance fee is charged per square metre per month and scales with amenity level, so a resort-grade branded scheme costs materially more to run than a mid-range block. Land and Building Tax on residential use is 0.02-0.1% a year. At transfer you also pay a one-off sinking fund contribution towards major future repairs.

It depends on whether you value clean title or higher net income. A condo inside the 49% foreign quota is freehold in your own name, simpler to resell to another foreigner, and typically yields 6-8% on long lets. A pool villa is normally leasehold and costs more to run, but a well-managed one can net around 8% with short-let occupancy above 70%, while appealing to a smaller resale pool. Most first-time overseas buyers start with the condo.