Buying a Condo in Thailand — Foreign Quota 49% + FET in Phuket
Foreign quota up to 49% per building, funds wired in from abroad with a Foreign Exchange Transaction (FET) form
Phuket has a stark long-vs-short rental split — monthly long-stay (6-12 months) is 50-70% cheaper than Airbnb. A 3-bed private-pool villa runs THB 60-150k/month in Laguna; sea-view condos in Rawai THB 25-45k. High season fills up and rates 2-3x — sign before October.
Recommended places & options in Phuket
Phuket is Thailand's #1 destination for retirees, Elite Visa investors and digital nomads — 80,000+ foreigners (Russian, German, British, Australian). Phuket Airport (HKT) connects 25 countries with direct flights.
- Laguna Park (villas)
- Allamanda Laguna
- The Title Rawai
- Zen Space Cherng Talay
- Royal Phuket Marina
- Andamaya Surin Bay
Phuket-specific tips
- 1
Sign a 6+ month lease before early October to lock in low-season rates
- 2
Patong/tourist-rate electricity is THB 7-8/unit (higher than MEA)
- 3
49% foreign quotas fill fast in popular condos — rent before buying
General steps (5 steps)
- 1Project due diligence
Request Foreign Quota letter to confirm 49% still open / get Nor Sor 4 Jor title / check encumbrances / review juristic person financial statements
- 2Sign Reservation Agreement
Pay 50,000–200,000 THB deposit / specify 14–30 day due diligence period / refund clause if title check fails
- 3Wire funds from abroad
Open a Thai non-resident account or use existing offshore funds — wire with purpose 'Purchase of Condominium Unit XX' so the bank issues the FET form
- 4Due diligence + sign SPA
Lawyer reviews contract + Land Office search + chain of title + outstanding charges — sign Sale & Purchase Agreement + 20–30% down payment
- 5Transfer at Land Office
Both parties attend the Land Office + pay 6.3% transfer fees + receive title deed in your name — completed in one day
Top neighbourhoods in Phuket
- Patong (tourist)
- Cherng Talay-Bang Tao (Laguna, families)
- Rawai-Nai Harn (Digital Nomads)
- Karon-Kata (quiet families)
- Phuket Old Town
- Koh Kaew (near airport)
Russian (Rawai-Nai Harn), British/Australian (Cherng Talay-Bang Tao), German (Karon-Kata), American (Laguna-Layan), Digital Nomads (Rawai)
Frequently asked questions
How much does buying a condo in thailand — foreign quota 49% + fet cost in Phuket?
Rawai/Phuket Town -10% vs Bangkok · Laguna/Surin +20% · Patong sea-view +40%. National benchmark: Closing 6.3% + agent 3% + lawyer THB 20,000–50,000.
Which neighbourhoods in Phuket are best for expats?
Top picks: Patong (tourist), Cherng Talay-Bang Tao (Laguna, families), Rawai-Nai Harn (Digital Nomads), Karon-Kata (quiet families).
How long does buying a condo in thailand — foreign quota 49% + fet take?
Standard timeline 30–60 days including due diligence. Phuket is similar — NYC can pre-book to complete in a single day.
What about internet and getting around in Phuket?
500 Mbps-1 Gbps fiber (AIS/True) THB 690-990 islandwide · 5G covers 90%. Transit: Private/rental cars dominate (no BTS) — Grab/Bolt in town, airport-Patong 45 min, airport-Laguna 20 min; rental motorbikes THB 3,000/month.
When is the best season in Phuket?
Tropical — monsoon May-Oct (scattered rain, not all-day), peak season Nov-Apr (dry, 26-32°C)
Can I buy land?
No. Bare land is reserved for Thai nationals. The narrow exception is a BOI-approved investment of THB 40 million held for at least five years, which permits 1 rai for residential use. Condominium units, by contrast, can be held freehold in a foreigner's own name within the 49% quota.
What is the FET form and why is it needed?
The Foreign Exchange Transaction form is a bank certification proving the purchase funds were remitted from abroad in foreign currency and converted in Thailand. The Land Office will not register a foreign freehold transfer without it, and it is mandatory for every inbound transaction of USD 50,000 or more.
What if the 49% foreign quota is full?
Your options are a registered leasehold of 30 years in your own name (commonly written as 30+30+30), or purchase through a Thai company that genuinely trades. Nominee shareholder structures have been actively enforced against since 2022, so take Thai legal advice before choosing the company route.
Buying a Condo in Thailand — Foreign Quota 49% + FET in other cities
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