Can foreigners really own condos or can they still lose access like with land lease?

[tomazbodner]

43 minutes ago, scorecard said:

I bought a second hand condo in central Bkk. 

At first AGM several old issues raise their heads.

Just one, 2 old Chinese-Thai condo owners were asked to show 2 Thai bank savings accounts which held funds built over many years for future maintenance. They totally refused.

 

At the same meeting a new owners committee was formed including a famous senior cop who was admired for his long-term stand against corruption and he spoke advanced English. He asked for further details re the bank books and one of the old ladies insisted that she would neve show the bank books because there ws several farng condo owners; she was convinced all farang are dangerous and dishonest.

 

The cop told the old ladies that they did not own the funds and they must comply with a request of many owners to see the bank books. They refused.

 

Cop started legal action to force exhibiting of the bank books.

 

That worked but in reality the total funds in the 2 savings accounts was in total under 10,000Baht.

 

Unpaid maintenance bills? That was harsh. Never saw anything like that happening here. In our condo they cut off water, refuse to extend parking rights and access to common areas, which is I think for 3 months overdue fees which are collected twice a year for building maintenance and every 3 months for water usage. Electricity is anyway paid directly to MEA. 

[tomazbodner]

1 hour ago, BumGun said:

but that's VERY simplistic way to look at it because you conveniently left our opportunity and sovereign risk, amongst other risks , not to say that's not a consideration

 

If 10 years ago you had invested in say Nvidia and Amazon shares with your capital and then paid rent to live in Thailand, you'd be far, far ahead now ie opportunity cost

 

Governments change and they decide to change the laws and you aren't allowed back in as they are not permanent resident ie sovereign risk eg some people  who purchased property in the US and have legal status but can't get it renewed will be nervous, or even because they have an unpaid parking ticket 10 years ago. If you can' get your retirement visa renewed because they changed the base requirement to 8 Million Baht in the bank , then what ?

 

Purchasing property to live in is really about a lifestyle choice, somewhere to hang your hat and call home but if you're not a citizen, you are their as a guest who can be kicked out.  If you're happy with that, go ahead.  I'd never look at it as an investment though.

 

As to Australians, they are property weird, because to them purchasing property is mostly a no brainier if you can afford it, there's no real analysis or due diligence necessary (flood plains and coastal erosion aside)  as its heavily subsidised by the government in terms of tax relief and supply is severely restricted by government, so prices just go up and even insurance is often subsidised by government eg northern Australia in uninsurable so government stepped in as the underwriter (similar to much of the US with the NFIP ).  Aussies then assume the same everywhere ie a business plan is 1.Buy property   2. ????  3. Profit !

 

Obviously simplistic. We didn't put in capital gain taxes, potential income from renting the unit out, differences in utility prices between rented and owned properties, potential losses from investing in something that went belly up, etc. My post was for someone who has a choice (and funds) between renting a place and buying one, that there are benefits to owning it if that's done in the right kind of property in the right area, at the right price. Like there are benefits to those who have few, if any ties to Thailand and are just longer term tourists, in renting, rather than owning a place.

 

One admission... I bought condo at the beginning of COVID when people thought there was the end of the World coming. Sansiri wanted to close the project and offered 50% discount on all unsold units. Hence if I went to sell mine, I'd probably get 50-60% profit on it. But I like it (despite being thrown around in last quake), especially sunsets out the windows... So I have no interest in selling it.

 

 

I'm not Aussie and have no knowledge nor interest in real-estate there, hence I would be useless in any discussion about it.

[Hummin]

2 hours ago, BritManToo said:

Those who succeed are those that don't chuck large amounts of money at business/property/cars when they first come here. Rent everything, buy nothing (maybe a second hand car or new scooter) and don't invest in any business ventures your new girlfriend suggests, if a bank won't finance her 'ideas', neither should you.

I havet claimed should either.

 

Understand the cultur and possibilities takes time, and I didn't see any business I wanted to make here, after learning the possibilities.

 

My investments in my wife, I refer to as my future lottery ticket based on others success rates. I still think I'm well off compared to others. 

 

By now I'm down to expensive rent. Another 3-4 years I'm on the cheap side of it. 10 more years? Won the lottery

 

[Yellowtail]

19 minutes ago, tomazbodner said:

Obviously simplistic. We didn't put in capital gain taxes, potential income from renting the unit out, differences in utility prices between rented and owned properties, potential losses from investing in something that went belly up, etc. My post was for someone who has a choice (and funds) between renting a place and buying one, that there are benefits to owning it if that's done in the right kind of property in the right area, at the right price. Like there are benefits to those who have few, if any ties to Thailand and are just longer term tourists, in renting, rather than owning a place.

 

One admission... I bought condo at the beginning of COVID when people thought there was the end of the World coming. Sansiri wanted to close the project and offered 50% discount on all unsold units. Hence if I went to sell mine, I'd probably get 50-60% profit on it. But I like it (despite being thrown around in last quake), especially sunsets out the windows... So I have no interest in selling it.

 

 

I'm not Aussie and have no knowledge nor interest in real-estate there, hence I would be useless in any discussion about it.

And I bought Apple for my Roth IRA after opening my fist iPod.

 

We own two homes in Thailand, and I am pretty happy with both of them. 

 

 

[Yellowtail]

I would add that anyone buying a condo make sure that the purchase includes at least one DEDICATED parking space. 

[tomazbodner]

16 minutes ago, Yellowtail said:

I would add that anyone buying a condo make sure that the purchase includes at least one DEDICATED parking space. 

Absolutely agree. Most condos now only have 30-40% of parking lots compared to number of units, and while some don't allow any dedicated slots, those that do, usually only do that for largest units.

[gargamon]

2 hours ago, Yellowtail said:

You never know when the karaoke bar, or the guy with chickens or a dog that barks all night, etc. moves into the condo next door? 

What's the difference. I said rent. Don't buy.

[tomazbodner]

Just now, gargamon said:

What's the difference. I said rent. Don't buy.

There is a difference. I think it's quite a stretch to see someone turning 40th floor unit into a karaoke bar, and pets are banned in most condos. Street dogs are a different story, especially if there's a moobaan nearby, but nothing that can't be fixed with double glazed windows on a high floor.

[Yellowtail]

Just now, gargamon said:

What's the difference. I said rent. Don't buy.

I've been happy with the homes I have purchased, and I'm sorry things have not worked out as well for you. 

[Yellowtail]

1 minute ago, tomazbodner said:

There is a difference. I think it's quite a stretch to see someone turning 40th floor unit into a karaoke bar, and pets are banned in most condos. Street dogs are a different story, especially if there's a moobaan nearby, but nothing that can't be fixed with double glazed windows on a high floor.

I think there are good reasons to buy, and good reasons to rent. 

 

 

[khunPer]

On 6/30/2025 at 8:16 AM, rikiderorck said:

Now moving to the main question I have. I heard condos are a different story. I heard that foreigners can own a condo. But isn’t the land under the condo still an issue. I heard something like the land must be majority owned by Thais. So what happens if the Thai majority one day wants to remove the foreign owners. Is that possible. Could they vote to change something that forces foreigners out later?

You can own a condo if 51% of the condo owners in the building are Thais; i.e. your condo is within the 49% quota that is allowed for foreigners. It woeks same way as shareholders in a Thai company limited.

[Hummin]

25 minutes ago, Yellowtail said:

I think there are good reasons to buy, and good reasons to rent. 

 

 

 

Well run condominiums is worth buying, but You wouldn't know if you didn't rent first. And that's one of the reasons I didn't buy in Hua Hin. They didn't let me rent for 3 months with intention of buying after 3 months. 

 

 

Renting an apartment before buying can be a good way to assess the property's management, including the board of directors' effectiveness and how they handle issues. This allows potential buyers to gauge the community's dynamics and potential long-term living experience.  

 

 

[pacovl46]

Condos can be owned outright. As far as I know, if you lease land and you build on it and they won’t renew the lease they will have to reimburse you for the house you built on it.

 

If you have 40 million Baht to invest for three years, you can invest it either  into a government fond, real estate or other activities approved by the BOI. This will give you the right to buy one rai of land, on which you can build a house or buy one rai that already has a building on it. There’s conditions attached to it, though. You can’t turn the property into a business, like a rental or accommodation business and you have to live in it yourself. If you have the cash, then this will be by far your best option. 

[placnx]

On 6/30/2025 at 1:16 PM, rikiderorck said:

Hello people ,

Ok so as a foreigner I believe I cannot own land in Thailand. The only thing I can do is lease the land for 30 years . I can own the house that sits on it. But after 30 years the problem starts because there is no guarantee I can stay. The landowner can refuse to renew and I lose access to the land. So the best I can do is maybe destroy or remove the house, if the contract allows it. I think I understand that, but correct me if I’m wrong please.

Now moving to the main question I have. I heard condos are a different story. I heard that foreigners can own a condo. But isn’t the land under the condo still an issue. I heard something like the land must be majority owned by Thais. So what happens if the Thai majority one day wants to remove the foreign owners. Is that possible. Could they vote to change something that forces foreigners out later?

In the end I just want to understand how condos are really different from leasehold villas. Because it still feels like in both cases the land is controlled by Thai law and Thai people, and foreigners can always be limited or blocked. So can someone explain how secure a condo really is long term. 

I'm not a specialist. Presumanbly, the building and land are registered in the name of an association. Why not look into this. Do they have decision-making provisions, such as flow-through of expenses, repairs, even eventual transformation of the building?

[henryford1958]

8 hours ago, TopThai54 said:

Why do Farangs (especially Americans & Australians) always want to buy Properties ! 
Rent ! You can always move if you have unpleasant neighbors or want to relocate to another town ! In many cases Houses or Condos turn to be difficult to sell and/or with a loss ! 

 

Buying is MUCH cheaper in the longer term. Why do you think there are so many landlords. But if you have money to burn then rent.

[newnative]

8 hours ago, TopThai54 said:

Why do Farangs (especially Americans & Australians) always want to buy Properties ! 
Rent ! You can always move if you have unpleasant neighbors or want to relocate to another town ! In many cases Houses or Condos turn to be difficult to sell and/or with a loss ! 

     Can only speak for myself but this American buys for the very simple reason that life is short and you possibly only go around once.  Not for me living my dwindling wonder years in someone else's space with very likely inferior everything--from the small tv to the cheap sofa to the poor refrigerator to the lousy art on the wall--if any--to the uncomfortable--and well-used--mattress on the bed to . . .   Well, the list goes on.   No thanks.  Spouse and I just sold our house today, by the way.  It wasn't hard.  Any time we feel like moving, we can.  Owning doesn't tie us down.