PEYLAA 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.