Real estate in Thailand is not something unfamiliar to foreign nationals. On the contrary, it is popular with some categories of buyers. The reasons are different: some want a private holiday home in an exotic location, others are planning to move, some benefit by investing in high-liquidity properties, and some combine one with another and buy several properties for this purpose. You can read more about the last point in this article.
Content:
- Who buys two apartments in Thailand and why?
- How to buy two apartments?
- Registration procedure
- Tips for moving to Thailand
- What has changed since the interview
- We will help you purchase real estate in Thailand
- Frequently asked questions
Who buys two apartments in Thailand and why?
The heroes of our interview, John and Mary, shared their personal experiences of buying two apartments in Thailand. Currently, the family owns two properties in Phuket. One is used as a place of residence and the other is a source of income. The interview was recorded in 2021, so every sum and percentage in it reflects that time. Current figures are gathered in a separate section at the end of the article. When asked what advantages Thai housing has and why it is worth buying a house in Thailand, the couple answers as follows:
- Housing types and prices. "In Thailand, we found housing of the same quality as foreign apartments and some extra features such as overall quality, layout, and location (for obvious reasons, other countries will never offer the same view from the window, surroundings, etc.). Another advantage is the price. Our first apartment we currently live in costs ฿2,760,000 ($82,800). We bought it in a new condominium (built in 2018). There is a bedroom of 32 sq. m and a spacious living room, a separate bathroom, kitchen, balcony, and a stunning view of the pool and park! The beach is 2.3 km away. In Phuket, this is one of the best offers. I can't imagine finding something like this in my hometown and for this price."
- Nature and ecology. Mary describes her impression; "Phuket is truly Thailand’s beach capital. This is a paradise with snow-white sand, palm trees, pristine beaches, and lush vegetation! We have been living here for 2 years but I am still pleasantly surprised."
- Community. "Phuket is one of the most harmonious English-speaking communities in Thailand, at least in our experience. Moreover, the locals are always friendly and kind. We lived here for a while, went to dinner parties – it’s a tradition here and we made friends."
- Profitable rental. "The second apartment we bought is for profit and performs its task properly. We can say that February to May is the most profitable. During this period, many people come on vacation to warm up and the apartment makes a profit of 8-10% per annum," John said.
- The opportunity to enjoy the tropical climate and benefits of Thailand all year round.
What status a property purchase gives you
Two different things are often confused here. Thailand does not grant permanent residence for buying property: residency is applied for separately, after several years of visa extensions and within a quota of 100 people per nationality a year. A long-stay visa, however, a purchase can now provide.
| Route | What you need | What it gives |
|---|---|---|
| Property visa | Completed housing from THB 3 million (about $90,600) registered in your name | Three months, then annual extensions; family included. No right to work |
| Investment extension | An investment from THB 10 million (about $302,000) in property, a deposit or government bonds | A one-year extension of stay, renewed annually |
| Thailand Privilege | A membership fee from THB 650,000 ($19,625) | From 5 to 20 years of stay. Nothing to do with buying property |
| LTR | Income from $80,000 a year or assets from $1 million | 10 years, with one annual report instead of the 90-day one |
The property visa only appeared on 1 October 2025 and has been issued since 1 February 2026 — at the time of the interview no such option existed. Off-plan units do not qualify: the unit must be completed and registered in the buyer’s name.
Interim result
"In my view, if you are going to settle in Thailand, your housing will make your life easier. You are your own boss and you can dispose of housing at your discretion. There is also no need to worry about extending the lease. A second apartment is an option to earn money if you can buy it or take a mortgage. There are a lot of tourists here (especially during the holiday season) who want to live by the sea but do not want to live in a hotel, so this is a stable income," John summed up.
How to buy two apartments?
We should start by looking for the right housing. It is not as simple as it sounds. There are many nuances from the city/district where the housing is located to the liquidity of the property and local demand.
We should start analyzing housing from an end goal. Are you looking for a place to live or rent? John advises the following: "Analyze the districts, their infrastructure, transport accessibility, hospitals, educational institutions, shops, etc. You know, you need to get there, feel the atmosphere and see if it suits you or not.
Apartments on the coast are suitable for renting – there are a lot of potential tenants. You can search for offers yourself but it's better to contact a specialist – it's more reliable and faster. In addition, you can sign a contract with a management company that will monitor the housing, look for clients, and sends you the payment."
Registration procedure
- When you have found a home, you have to complete the registration and other formalities. A specialist will be in charge of your business so they must be a professional who speaks Thai and English well.
- Next, you will need a personal Thai bank account. This will allow you to make financial transactions including payment for real estate.
- The next step is signing a preliminary agreement. The buyer pays 1% of the cost of housing as a deposit – this is necessary for the housing to be taken off the market. Based on the contract, you can open an account. The document also specifies a deadline for the final payment.
What documents do you need?
- A copy of the buyer's passport;
- E-mail;
- Buyer's phone number;
- Postal address.
- After making a deposit and signing a preliminary contract, the money is transferred. You should know in advance what the main payment options are.
These include:
- Primary market – money is transferred to the developer's account. The transfer can be made from any part of the world. The main thing is that an account is opened for the buyer;
- Secondary market – payment is made by check from the buyer's account in a Thai bank;
- Freehold – payment is transferred only from a foreign account in foreign currency, and the bank issues proof of the transfer. Without that document the title cannot be registered in a foreigner’s name;
- Leasehold – payment in any way convenient for the payer.
- The final stage is obtaining property rights. All real estate transactions are registered with the Department of Lands. Foreign buyers visit only with Thai representatives as the local staff speak English poorly and documents are issued in Thai.
"We bought the first apartment with our savings. The second one is through installments with a developer as it is difficult to obtain a mortgage in Thailand. Developers often offer bonuses and discounts if you buy an apartment. An individual payment plan is made using installments. And the earlier the construction stage, the lower the price. It is possible to pay 50% of the cost of the housing before it is completed and another 50% can be shared for 3-5 years at 5-7% per annum and pay them with the money earned from renting the housing," John said.
Tips for moving to Thailand
The family who decided to move and buy two apartments in Thailand advised those who, like them, plan to live in the "sunny Kingdom":
- Moving to Thailand is a unique experience not comparable to any other. The main thing is to act properly and study the country;
- Before buying a home, it is better to conduct a thorough study of the area. It is best to experience it yourself; travel around the country, see the housing and get acquainted with the culture and atmosphere;
- Many developers offer discounts and individual conditions for buyers. The main thing is to carefully select developers, study markets and offers, look for proven businesses with ready-made projects and reviews;
- Do not neglect the help of specialists. An experienced real estate agent will save you time and money to find the perfect property for you;
- Think about a strategy. For what purposes do you need housing? Why do you want to buy two apartments? Where is it more profitable to buy for rent and resale?
What has changed since the interview
The market and the rules have moved on since 2021. Here is what to keep in mind when applying John and Mary’s experience to your own case.
- Yields. The real figures are more modest than "8–10%": gross yields in Phuket run at 7–8.4%, with long-term letting at 5–7% and daily letting at 7–11%. Maintenance fees, the management company, taxes and void periods come out of that.
"The live-in-one, let-the-other model works, but the second unit deserves different criteria from the first. For living you want quiet and a school nearby; for letting, the distance to the beach and whether the building rules allow daily rentals. Often that means two different buildings in two different areas."
— a manager working with investors in Thai property
- Prices. The median price per square metre in Phuket is now around THB 144,000 ($4,350), and THB 70,000–120,000 in the mass segment. A unit at THB 2.76 million, as in 2018, is now found only well away from the sea.
- Mortgages. "Difficult to obtain a mortgage" has softened: banks lend to foreigners at 5.5–8% a year and cover 50–70% of the value, though almost exclusively against a condominium unit.
- Daily letting. Since 2025 listings on booking platforms are cross-checked against the hotel licence register: letting for less than 30 days without a licence is prohibited.
- Leasehold. In March 2025 the Supreme Court ruled the "30+30+30" structure a circumvention of the law, so the maximum lease term is 30 years.
We will help you purchase real estate in Thailand
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Frequently asked questions
Does buying two apartments give you residency?
No. Permanent residence is applied for separately, after several years of extensions and within a quota of 100 people per nationality. But buying completed housing from THB 3 million has been grounds for a long-stay visa since 1 October 2025.
What does letting in Phuket really pay?
Gross yields of about 7 to 8.4% a year: 5–7% on long-term lets and 7–11% on daily ones. Maintenance contributions, the management company, taxes and void periods come out of that.
Can I buy the second unit with a mortgage?
Yes. Thai banks lend to foreigners at 5.5–8% a year and cover 50–70% of the value, almost exclusively against a condominium unit. The alternative is an interest-free developer instalment plan until handover.
Do I have to transfer the money from abroad?
To register a unit in a foreigner’s name, yes. The payment arrives in foreign currency and the bank issues proof of the transfer; without it the title will not be registered.
Can the second unit be let daily?
Only if the property holds a hotel licence and the building rules allow it. Since 2025 listings on booking platforms are cross-checked against the licence register.