Buying in Bangkok vs back home: condos, quotas and the cash you need

You can own a Bangkok condo outright in your own name. You can't own the land under a house. And you'll probably be paying cash, which changes the whole comparison with buying back home.

The short version

• Foreigners can own condo units freehold, as long as total foreign ownership in the building stays within 49% of the floor area and the money comes in from overseas [1].
• Land is generally off limits to foreigners; houses are usually held through leases, which Thai law caps at 30 years a term [1][2].
• The single biggest cost difference: financing. Thai banks rarely lend to foreigners, so most Australians buy in Bangkok with cash, while back home you can borrow, though on tighter expat terms.
• Thailand's purchase costs are modest: a 2% transfer fee, often split, versus NSW transfer duty that runs to about 3.9% on a A$1 million home [3][6].
• Sell a Thai property within five years and a 3.3% specific business tax applies, generally a seller's cost [4].

Can an Australian buy in Thailand?

Condos: yes, within the quota

Under the Condominium Act, foreigners can hold units up to 49% of the combined floor area of all units in a building [1]. The quota applies to the whole building, so once earlier foreign buyers have used it up, you can't register a unit under it, however much you like the view from that 30th floor in Thong Lo.

To qualify, you generally have to bring the full purchase price into Thailand in foreign currency, or pay from a non-resident baht or foreign currency account. The receiving bank issues a Foreign Exchange Transaction form, and the Land Office expects to see it before it registers the unit in your name [1]. Lose the paper trail and you lose the foreign-quota route.

You'll see headlines about raising the condo quota to 75% and allowing 99-year leases. As of late 2026 these are proposals only. No amendment has been enacted [1].

Land and houses: generally no

Foreign individuals generally can't own land in Thailand. The exceptions are narrow: one involves investing at least 40 million baht and holding the investment for three years, which allows up to 1,600 square metres of residential land with Interior Ministry permission [2]. Most foreigners who want a house instead lease the land and own the building on it, since there's no restriction on owning a building [2].

A land lease is capped at 30 years per term. Renewals are possible but can't exceed 30 years from the renewal date, and a 2023 Supreme Court decision voided pre-agreed renewal promises designed to stretch rights to 90 years [1]. Treat any "30+30+30" pitch with care.

With a Thai passport or Thai family

If you hold Thai nationality, for example through a Thai parent, you buy as a Thai, including land. A Thai spouse can own land in their own name, but the property belongs to them under Thai law. Get independent legal advice before any arrangement that relies on someone else's name.

Upfront costs side by side

Rates as at November 2026. Thai amounts in baht, with AUD at the RBA rate of THB 23.44 on 5 November 2026 [10].

Read the sale contract closely. Developers sometimes advertise "fees split" or "fees included", and who pays the transfer fee and business tax is a matter of contract, not law.

Getting a loan

In Thailand

Here's the hard truth: Thai banks rarely lend to foreigners for residential property, and when they do, it's usually to people with a work permit, Thai income and a long-term visa. Some developers offer in-house financing on new projects, typically at higher rates than bank loans. We couldn't find a published official rule on foreigner lending, so treat this as a description of the market, not a regulation.

The practical result is that most Australians buy in Bangkok with cash brought in from overseas, which neatly matches the foreign-currency rule above.

Back home

Australian lenders do lend to Australians living in Thailand, but expect a smaller field of lenders and a lower maximum LVR than residents get. Baht income can be harder to get recognised than income in major currencies, and many lenders count only part of your foreign salary. If you're on a retirement visa with no Thai salary, your assessable income may be Australian rent, investments or a pension. Our guides on foreign income and deposits explain how lenders look at this.

So the trade-off is stark. Bangkok: lower prices and lower purchase costs, but paid for with your own money. Australia: higher prices and stamp duty, but leverage.

Holding costs

Australian side: if you're still an Australian tax resident while living in Bangkok, Australia taxes your worldwide income, Thai rent included, with credits for Thai tax paid. Retirees who split their year between the two countries are the ones most likely to stay Australian residents, so check rather than assume.

Selling and tax

Thailand

When you sell, the Land Office collects the taxes at transfer [4]:

1. Specific business tax of 3.3% if you sell within five years of buying, on the higher of the appraised value or sale price.
2. Stamp duty of 0.5% instead, if specific business tax doesn't apply.
3. Withholding income tax, calculated by the Land Office on the appraised value and how long you've held the property.
4. The transfer fee, if your contract says the seller pays all or part of it.

Getting money out matters too. Keep the Foreign Exchange Transaction form from your purchase. It's your evidence the funds came from abroad, which helps when you repatriate the sale proceeds.

Australia

Sell an Australian home while you're a foreign resident and you generally lose the main residence exemption, even for the years you lived in it, unless you meet the life events test [8]. Every Australian property sale now carries 15% foreign resident capital gains withholding unless the seller provides an ATO clearance certificate by settlement [9].

Currency

The baht has moved a lot against the Aussie dollar over the years. If you buy in Bangkok with AUD savings and sell when the baht is weaker, you'll get fewer Australian dollars back, even if the condo's baht price held up.

A worked example

Illustration only. Here we use a smaller budget, closer to what many Australians spend on a Bangkok condo: THB 10 million (about A$426,600). We compare it with a NSW purchase at the same A$426,600, which in NSW typically means a unit or a home outside the big-city centres. We assume a cash purchase in Bangkok, an appraised value equal to the price, and a 50/50 split of the transfer fee.

If the seller sells within five years, they'll owe specific business tax of THB 330,000 [4]. That's their cost, unless the contract shifts it to you.

Which suits whom

There's no recommendation here, just the things that usually tip it one way or the other:

• Cash versus leverage. Bangkok usually means paying cash. Australia lets you borrow, but on expat terms.
• What you want to own. A condo is straightforward. A house means a land lease, with all the limits that come with it.
• Plans to retire. Many Australians in Thailand are retirees. If you might need aged care or family support back home later, an Australian property keeps that option open.
• Rental market. Bangkok has plenty of condo supply; check vacancy and rents in your exact building before buying to rent out.
• Currency and repatriation. Keep your paperwork for getting money in and out.
• Inheritance. Thai succession rules apply to Thai assets. Make a will that works in Thailand as well as Australia.

To hear how others have handled it, join Cooee Thailand, our Facebook group for Australians in Thailand, at /join/.

Sources

1. Thailand's 75% condo quota and 99-year lease: what is proposed and what is law – Thai Law Online
2. Other legal issues: land and condominium ownership by foreigners – Thailand Board of Investment (OSOS)
3. Reduced registration fees for property transfers and mortgages extended for another year – HLB Thailand
4. Brief on taxation for foreigners under Thai laws – ILCT
5. Land and building tax rates for foreigners residing in Thailand – Thailand.go.th (Government Public Relations Department)
6. How to calculate transfer duty – Revenue NSW
7. Surcharge purchaser duty for individuals – Revenue NSW
8. Main residence exemption for foreign residents – Australian Taxation Office
9. Foreign resident capital gains withholding overview – Australian Taxation Office
10. Exchange rates – Reserve Bank of Australia

Keep reading

• Long-stay visas in Thailand for Australians
• Renting in Bangkok as an Australian
• Deposit and LVR as an expat borrower: how much you need
• Buying an investment property from overseas: step by step