Buying a condo in Bangkok as an American

As an American, you can own a Bangkok condo in your own name, outright and forever. You can't own land, and the money has to arrive the right way.

The short version

Foreigners together may own up to 49% of the total unit area in a condo building, under Section 19 bis of the Condominium Act [1][2].
To register a foreign purchase, you must bring the money in as foreign currency (or pay from a qualifying foreign-currency or non-resident account). For transfers of USD 50,000 or more, the bank issues a Foreign Exchange Transaction (FET) form [1].
Foreigners generally can't own land. A house usually means a lease of up to 30 years, and longer terms are cut back to 30 [2].
Expect a 2% transfer fee on the official appraised value. The Thai-only fee cut to 0.01% doesn't apply to Americans [3][4].
Plans to raise the quota to 75% and allow 99-year leases were proposed in 2024 and haven't become law [5][2].

USD conversions use the Federal Reserve H.10 rate of October 30, 2026 (USD 1 = THB 33.76).

The 49% foreign quota

Thailand's Condominium Act says foreign owners as a group can't hold more than 49% of the total unit area of a building, measured when the condo was registered [1]. The other 51% has to be Thai-owned. Each unit owner also co-owns the common property, including the land under the building, in proportion to their unit's size [2]. That share of common property is the one legal way an American ends up owning a slice of Thai land.

In practice:

Ask the developer or juristic person (the building's management body) for a letter confirming there's foreign quota left before you put down a deposit. Popular buildings near BTS stations in Sukhumvit, Thonglor and Silom can run out.
Resale units may already be registered to a foreigner, so the quota moves with the sale. Confirm it anyway.
"Thai quota" units sold to foreigners through a Thai company or nominee are a bad idea. Having a Thai person or company hold property on a foreigner's behalf is against Thai law, and you'd have little protection if things go sideways.

Getting the money in: foreign currency and the FET

This is the step Americans most often get wrong, and it can block the transfer at the Land Office.

Under Section 19 of the Condominium Act, a foreign buyer qualifies by bringing in foreign currency equal to at least the purchase price, or by paying from a non-resident baht account or a foreign-currency deposit account in Thailand [1]. The Land Office checks the evidence before it registers your purchase [1].

How to do it right:

Wire US dollars, not baht. Send USD from your US bank to a Thai bank and let the Thai bank convert. Baht sent from abroad doesn't generate an FET [1].
Send it in your own name if you'll be the registered owner. If your spouse sends it, the paper trail gets messy [1].
State the purpose clearly: "purchase of condominium unit," ideally with the project name and unit number. Vague purposes like "investment" or "family support" may not connect to the purchase [1].
Get the FET. Thai banks issue an FET for inbound transfers of USD 50,000 or more. Below that, ask for a bank letter confirming each transfer, the foreign currency amount, the baht conversion and the purpose [1]. The USD 50,000 line is bank practice rather than statute, so ask your bank first [1].
Keep originals forever. Store the FETs with your title deed and contract. When you sell, the bank sending money back out will want to see that it matches what came in, plus any gain [1].

Money that's already sitting in an ordinary Thai savings account from your pension deposits doesn't count toward a foreign purchase [1]. Plan the wire before you sign.

Transfer fees and taxes

Thai property transfers carry a handful of government charges, split by custom and negotiation between buyer and seller. Get the split written into your contract.

Charge	Rate	Notes
Transfer registration fee	2% of the official appraised value [3]	Split by negotiation; charged on the Land Department's appraised value [8]
Thai-buyer fee cut	0.01%	Only Thai individuals, units up to THB 7 million, until June 30, 2027 [3][4]
Specific business tax	3.3% (3% plus local tax) [6]	Seller's tax if the seller owned the unit under 5 years [7]
Stamp duty	0.5%	Applies instead of specific business tax; usually the seller's [8]
Withholding tax	Varies	Seller's income tax, withheld at transfer [8]
Mortgage registration fee	1% of the loan [3]	Only if you register a Thai mortgage at the same time

The 0.01% cut, extended in July 2026, is limited to Thai nationals buying homes or condos priced at THB 7 million (about USD 207,300) or less [3][4]. Americans pay the full 2%.

The specific business tax applies when a property is sold within five years of purchase, unless the seller's name has been on the unit's house registration for at least a year as their main home [7]. On a resale, you'll mostly feel these through the price, since they're the seller's taxes, but developers sometimes ask buyers to share costs on a new unit.

Our stamp duty and withholding figures come from a 2019 Phuket News law column [8]; confirm current rates with the Land Office or a Thai property lawyer before closing.

Land, houses and leaseholds

The Land Code generally bars foreigners from owning land [2]. That rules out a house with a yard, a townhouse on its own lot, or a plot to build on, at least in your own name.

The usual workaround is a lease:

A lease longer than three years must be registered at the Land Office, or it's only enforceable for three years [2].
The maximum term is 30 years; anything longer is void and cut back to 30 [2].
Contracts often promise renewals for two more 30-year terms (the "30+30+30" pitch). Thai courts have treated those promises cautiously, and a 2023 Supreme Court case in Phuket showed the risks of counting on extensions beyond the first 30 years [2].

You can own the building on leased land, but your security still depends on the lease. Company structures with Thai nominee shareholders are a well-known way people get burned.

What the 2024 proposals would change

In June 2024 the Thai government proposed raising the foreign condo quota from 49% to 75% and extending land leases from 30 to 99 years, and asked the Interior Ministry to draft amendments [5]. Foreign owners would have had voting rights capped at 49% [5]. The Chambers Real Estate 2026 guide, written by lawyers at Nagashima Ohno & Tsunematsu, still describes the 49% limit and the 30-year lease cap [2], and we found nothing showing either change was enacted. Treat both as proposals until the law changes.

Buying, step by step

Check the quota and the title. Get written confirmation of foreign quota and do a title search at the Land Office, ideally through an independent Thai lawyer, not the developer's.
Sign a reservation and purchase contract that spells out who pays which fees and taxes.
Wire USD in your own name with the right purpose, and collect the FET or bank letters.
Get the juristic person's debt-free letter showing common fees are paid up.
Transfer at the Land Office. You pay the balance, the fees and taxes are settled, and the unit's title deed is registered in your name.
Remember the US side. Thai property itself isn't on the FBAR, but the Thai bank accounts you use to buy and run it are. If you rent the unit out, the income goes on your US return, and a later sale can trigger US capital gains. A US expat tax preparer can check your situation.

Before you sign anything, ask our community group for Americans in Thailand which buildings have been good to own in.

Buying a condo in Bangkok: the 49% rule, the FET and what you can't own