Buy Your Dream Villa in Phuket

Yes, foreigners can buy property in Phuket, but there are restrictions. The most common methods are a 30-year renewable leasehold for villas or freehold ownership for a condominium unit, where foreign ownership is limited to 49% of the building’s total area. It is highly recommended to seek legal advice to navigate these options.

In addition to the property’s purchase price, you should budget for legal fees (1-3%), transfer tax (2%), and stamp duty (0.5%). There will also be ongoing costs for maintenance, property management, and utilities.

Freehold gives you complete ownership of the property and the land. In Thailand, this is generally available to foreigners only for condominiums (up to the 49% limit). Leasehold is a long-term lease, typically for 30 years, with the possibility of renewal, which is the most common way for foreigners to own a villa.

The process typically starts with a deposit to secure the property. After a legal review of the contract, the final payment is made, and the ownership transfer is completed at the Land Department. The entire process can take several weeks to a few months, depending on the specifics of the transaction.