I was wondering what the difference is between a freehold and a leasehold?

I currently live in the States and a "fee simple" condo is a condo that you own, can pay off, and have as your home for life.

A leasehold, on the other hand, is something that you lease, and all cushy descriptions aside, you are basically renting long term.

Can you literally OWN a condo in Bangkok? Can you pay it off and either stay in it yourself mortgage-free (or rent it out to a tenant for a rental income)?

Please let me know. Thanks.

if you buy a freehold condo, you hold strata title...you own the condo unit itself and you also have an undivided interest in the underlying land of the condo building (that would be equivalent to the "fee simple" you describe)

if you buy a leasehold apt unit, yes you are right, it is just a long-term leasehold. For example, many of the leasehold apartments around the Rajadamri area are on a 30 year leasehold from the ultimate land owner to a developer entity (which, in turn, long term sub-leases a particular unit to you). Of course, by the time you "buy" a leasehold, there are less than 30 years left in the term...

one of the top leasehold residences in Bangkok are the St Regis Residences (53 units on levels 25-45) sitting atop the St Regis Hotel on Rajadamri Road with panoramic views of the Royal Sports Club

http://www.rajadamriresidences.com/pdf/Factsheet_StRegis_Bkk.pdf