Can Foreigners Buy Property in Phuket?
Yes. Foreigners can legally buy property in Phuket. You can own units in a registered Condominium (Foreign Freehold or Leasehold), and you can buy a House, Villa or Apartment (Leasehold). Under Thai law foreign nationals are not allowed to own land in Phuket.
What is Foreign Freehold Ownership?
With regards to buying property in Phuket, Foreign Freehold ownership applies only to the purchase of Condominium unit(s) and means that as a foreigner you own the unit outright.
What is Leasehold Ownership?
Leasehold ownership applies to any non-foreign freehold units in a condominium, or an apartment, house or villa – you buy the property on a lease basis which is 30 years . The leases last for 30 years and after this time there may be an option to renew.
Where is the best place to buy property in Thailand?
Usually the most popular cities and provinces for foreign homebuyers and investors to buy real estate in Thailand are as follows:
• Chiang Mai
• Hua Hin
• Koh Samui
How about the rest of Thailand – Can foreigners buy property in Thailand?
The rules for buying property in Phuket are the same for the rest of Thailand.