Condo Resale in Thailand 2026: Guide for Foreign Sellers

A foreign seller of a Thai condominium should budget 7 to 10% of the sale price in total costs (transfer fee share, SBT or stamp duty, withholding, and agent commission), and should plan for a sale timeline of 6 to 18 months. Repatriating proceeds abroad in foreign currency requires the original Foreign Exchange Transaction (FET) form from the purchase — without it, repatriation is capped and costly. Everything else — pricing, marketing, mistakes to avoid, tax planning — is downstream of those two facts. This guide walks through the full resale process from listing to the Land Department and onwards to repatriation, using Revenue Code rates as of 2026, the CBRE Thailand Market Outlook 2026, and REIC 2025 foreign-demand data.

Most public content on this topic stops at transfer fees. The harder problems — moving Thai Baht sale proceeds home in Euro or Pound Sterling, timing the sale around the five-year SBT threshold, finding buyers for foreign-quota units in buildings already near the 49% cap — are where foreign sellers actually lose money. The costed examples below use a 5,000,000 THB Jomtien one-bedroom and a 10,000,000 THB Bangkok Sukhumvit one-bedroom as reference units.

1. The resale process step by step

A foreign condo resale in Thailand follows the same eight-stage sequence every time: list, offer, contract, deposit, due diligence, tax and clearance, transfer at the Land Department, and fund repatriation. The Land Department registration is the single legal event that transfers ownership. Everything before it is negotiation.

1. 1

   Prepare unit and documents

   Chanote, original FET, CAM receipts, juristic person no-debt letter, Tabien Baan.

   Typical duration: 2-4 weeks

2. 2

   List the unit

   Exclusive agent + portals (FazWaz, Hipflat, DDProperty, Thailand-Property).

3. 3

   Offer and negotiation

   Typical compression 7-12% from asking to accepted price.

4. 4

   Reservation and deposit

   50,000-200,000 THB holds unit 14-30 days while buyer arranges funds.

   Typical duration: 2-4 weeks

5. 5

   Sign SPA

   Transfer fee split, long-stop date, deposit forfeiture, as-inspected condition.

6. 6

   Buyer due diligence

   Title search, juristic-person no-debt, quota verification, encumbrance check.

   Typical duration: 2-4 weeks

7. 7

   Land Department transfer

   Both parties attend; cashier's cheques; fees assessed; title reissued.

   Typical duration: 2-4 hours

8. 8

   Repatriation abroad

   Proceeds converted against original FET; remitted in foreign currency.

   Typical duration: 3-10 business days

Stage 1: prepare the unit and gather documents

Before listing, pull together the documents any serious buyer’s lawyer will ask for:

• Title deed (โฉนด or chanote) in the seller’s name with foreign quota notation.
• Foreign Exchange Transaction (FET) form from the original purchase.
• Original sale and purchase agreement with the developer or prior seller.
• Last 12 months of common area maintenance (CAM) receipts.
• Juristic person “no debt” letter (หนังสือรับรองการปลอดหนี้), renewed within 30 days of transfer.
• Tabien Baan (blue book) for the unit if registered.
• Passport of the seller with current entry stamp.
• Power of attorney if the seller will not attend in person (see Stage 7).

Units in poor condition sell for 10 to 20% less than comparable clean listings. A pre-listing refurbishment budget of 50,000 to 200,000 THB (paint, minor kitchen repair, deep clean, replacement soft furnishings) typically pays back 3 to 5 times in final sale price.

Stage 2: list the unit

Foreign sellers in 2026 typically list through three channels simultaneously: a primary agent on an exclusive contract (2 to 6 months), open portals (DDProperty, FazWaz, Hipflat, Thailand-Property), and the seller’s own direct network. Exclusive versus open listing trade-offs are discussed in Section 6.

Stage 3: offer and negotiation

Offers come through the agent. Experienced agents present offers with buyer profile (cash vs financed, Thai vs foreign, visa status, buying timeline), which shapes response strategy. Thai secondary-market negotiation typically compresses asking price by 7 to 12% before acceptance. A 5,000,000 THB listing realistically transacts at 4,400,000 to 4,650,000 THB.

Stage 4: reservation and deposit

A signed reservation agreement (ใบจอง) plus a deposit of 50,000 to 200,000 THB locks the unit off-market for 14 to 30 days while the buyer arranges funds and lawyer review. The deposit is non-refundable if the buyer withdraws without contractual cause. Any reservation without a written agreement is not enforceable; insist on a signed document.

Stage 5: sale and purchase agreement (SPA)

The SPA is the binding contract. Key clauses foreign sellers should fight for:

• Transfer fee split clearly specified (default custom: 50/50; increasingly: buyer pays full 2% on primary-market style deals).
• Seller’s withholding and SBT or stamp duty at seller’s cost (standard).
• Long-stop date for the buyer’s funding (60 to 90 days typical; shorter if buyer is all-cash).
• Deposit forfeiture if buyer does not complete.
• Unit condition clause specifying “as inspected” to avoid post-contract repair disputes.

Stage 6: buyer due diligence

The buyer’s lawyer will run a Land Department title search, verify the juristic person’s no-debt letter, confirm foreign-quota availability, and check for encumbrances. The seller cooperates by providing documents from Stage 1. This takes 2 to 4 weeks.

Stage 7: Land Department transfer

Both parties (or their appointed attorneys under notarised Power of Attorney) attend the local Land Office. The buyer brings the FET form for their inward remittance; the seller brings the title deed, the no-debt letter, and ID. The Land Office calculates transfer fee, SBT or stamp duty, and withholding tax, and issues a tax receipt. Payment is made on the spot by cashier’s cheque (แคชเชียร์เช็ค) in Thai Baht. The title deed is re-issued in the buyer’s name the same day.

Total elapsed time at the Land Office: 2 to 4 hours. Fee calculation and tax assessment is done by the Land Office officer; disputing the appraised value on the day is not practical.

Stage 8: repatriation

The seller’s Thai bank converts the sale-proceeds cashier’s cheque into the seller’s Thai Baht account, then remits the funds abroad in foreign currency against the original FET form. Repatriation typically completes within 5 to 10 business days after transfer. See Section 4 for the mechanics and limits.

2. Costs of selling

On a 5,000,000 THB Jomtien sale by a seller who has held for under 5 years, total transaction costs to the seller run to roughly 550,000 to 650,000 THB, or about 11 to 13% of sale price. On a sale by a seller who has held for over 5 years, this drops to roughly 370,000 to 450,000 THB (7 to 9%). The difference is almost entirely SBT. These costs combine the Land Department fees and taxes (covered in depth in the condo costs guide) with agent commission.

Transfer fee: 2% of appraised value

Market custom is a 50/50 split of the 2% transfer fee. On a 5,000,000 THB sale with 3,500,000 THB appraised value: 2% × 3,500,000 = 70,000 THB; seller’s half = 35,000 THB. Well-priced buyers in a cool market sometimes accept the full 2% to close a deal; this is a negotiation point.

Specific Business Tax (3.3%) if held under 5 years

SBT = 3.3% × higher of sale or appraised value. On a 5,000,000 THB sale: 165,000 THB. Paid by the seller at the Land Department. SBT replaces stamp duty — not both.

Stamp duty (0.5%) if held 5 years or more

Stamp duty = 0.5% × higher of sale or appraised value. On the same 5,000,000 THB sale held over 5 years: 25,000 THB. The SBT-to-stamp-duty cliff at five years is worth 140,000 THB on a 5M THB sale — more than the transfer fee itself.

Withholding tax on sale (progressive)

The Land Department withholds personal income tax under Revenue Code Section 50(5). The calculation uses the years-held reduction table (Ministerial Regulation No. 126) on the appraised value, divides by years held, applies progressive personal rates, and multiplies back. Effective withholding typically lands at 1 to 3% of appraised value. Worked examples in Section 3.

Agent commission: 3 to 5%

Resale agent commissions in Thailand are typically 3% for standard listings and 5% for exclusive high-touch service. The 5% often includes photography, staging guidance, marketing budget, and direct outreach to the agent’s buyer database. Commission is paid only on completed transfer. Beware “success fee” add-ons: a proper agent contract specifies a single percentage with no hidden extras.

Miscellaneous

• Notarised Power of Attorney (if seller not attending): 2,000 to 5,000 THB at a notarial services attorney.
• Courier of title deed to Land Office (if agent handles): 1,000 to 3,000 THB.
• Cashier’s cheque issuance fee: 20 to 30 THB per cheque.

Total seller cost summary

For the 5,000,000 THB reference unit, appraised value 3,500,000 THB, held 3 years, sold through an agent at 4% commission:

Line	Amount (THB)
Transfer fee (seller half)	35,000
SBT 3.3% × 5,000,000	165,000
Withholding tax (approx. 1.8% of appraised)	63,000
Agent commission 4% × 5,000,000	200,000
POA and admin	5,000
Total seller transaction cost	468,000 THB (9.4%)

For the same unit held 7 years instead of 3:

Line	Amount (THB)
Transfer fee (seller half)	35,000
Stamp duty 0.5% × 5,000,000	25,000
Withholding tax (years-held 55% reduction)	~48,000
Agent commission 4% × 5,000,000	200,000
POA and admin	5,000
Total seller transaction cost	313,000 THB (6.3%)

Holding four extra years saves 155,000 THB on this reference unit — equivalent to roughly 1.5 years of net rental income at a 6% gross yield.

Total: 468k THB

• SBT 3.3% of sale price 165k THB (35.3%)
• Agent commission 4% 200k THB (42.7%)
• Withholding tax (progressive) 63k THB (13.5%)
• Transfer fee (seller half) 35k THB (7.5%)
• POA and admin 5k THB (1.1%)

3. Capital gains tax calculation with worked examples

Thailand has no separate capital gains tax for individuals. The “CGT” on a condo sale is the Section 50(5) withholding tax, calculated on deemed profit derived from the Land Department appraised value (not the sale price) after the years-held reduction, at progressive personal rates. The effective rate lands between 1% and 3.5% of appraised value for most holding periods.

Calculation mechanics

1. Take the Land Department appraised value at sale.
2. Multiply by (1 – years-held deduction %). Result = taxable amount.
3. Divide by years held. Result = taxable amount per year.
4. Apply progressive personal rates to that annual amount.
5. Multiply by years held. Result = total withholding tax.

Worked example A: sold after 3 years

Reference unit sold for 5,000,000 THB; appraised value 3,500,000 THB; held 3 years.

• Deduction per Ministerial Reg No. 126: 77%.
• Taxable: 3,500,000 × (1 – 0.77) = 805,000 THB.
• Per year: 805,000 / 3 = 268,333 THB.
• Progressive tax on 268,333 THB: (150,000 × 0%) + (118,333 × 5%) = 5,917 THB.
• Multiply by 3 years: 17,750 THB withholding.

Worked example B: sold after 7 years

Same unit, same figures, held 7 years.

• Deduction: 55%.
• Taxable: 3,500,000 × 0.45 = 1,575,000 THB.
• Per year: 1,575,000 / 7 = 225,000 THB.
• Progressive tax: (150,000 × 0%) + (75,000 × 5%) = 3,750 THB.
• Multiply by 7: 26,250 THB withholding.

Worked example C: sold after 15 years, larger unit

10,000,000 THB Bangkok Sukhumvit one-bedroom; appraised value 6,800,000 THB; held 15 years.

• Deduction at 8+ years: 50%.
• Taxable: 6,800,000 × 0.5 = 3,400,000 THB.
• Per year: 3,400,000 / 15 = 226,667 THB.
• Progressive tax: (150,000 × 0%) + (76,667 × 5%) = 3,833 THB.
• Multiply by 15: 57,500 THB withholding.

Why these numbers are lower than most guides suggest

The withholding tax is punishing only on very high appraised values (above 30 to 40M THB) or very short holding periods. For the typical foreign-owned 5 to 15M THB unit, total Section 50(5) withholding usually sits under 1.5% of sale price. The larger line is SBT at 3.3% if the unit has been held under 5 years — which is why the five-year hold is the single biggest tax-planning lever.

For the full legal calculation framework see capital gains tax on Thai condos.

4. Repatriating sale proceeds

A foreign seller can remit sale proceeds abroad in foreign currency up to the amount of the original inward remittance certified by the Foreign Exchange Transaction (FET) form on the purchase. Amounts above the original FET require Bank of Thailand case-by-case approval. Sellers without an FET — typically those who bought pre-2010 or used a Thai friend’s account — face remittance caps and higher tax exposure.

The FET form (exchange transaction)

The FET form (formerly known as Tor Tor 3 until 2011) is issued by the receiving Thai bank when foreign currency of 50,000 USD or more is remitted into Thailand for condo purchase (threshold updated periodically by the Bank of Thailand). The form certifies:

• Currency and amount (USD, EUR, GBP, etc.).
• Thai Baht conversion at the date of receipt.
• Purpose (“purchase of condominium unit”).
• Beneficiary (the purchaser’s name).

The Land Department requires the FET (original or certified copy) at the time of purchase transfer for foreign-quota registration. Without it, the unit cannot be registered to a foreign buyer in the foreign quota. This is why competent buyer-side lawyers check the FET chain at due diligence on every resale.

Repatriation mechanics

On sale, the seller’s Thai bank converts the Thai Baht cashier’s cheque from the Land Department into the seller’s Thai Baht account. The seller then instructs the bank to remit the proceeds abroad in foreign currency. Two paths:

1. Against the original FET (preferred): up to the original inward remittance amount, the bank converts Thai Baht to foreign currency at the spot rate and wires abroad. Processing 3 to 10 business days. Bank fee 500 to 2,500 THB. No Bank of Thailand approval needed.
2. Above the original FET amount: the excess requires Bank of Thailand Form Tor Tor 4 approval via the commercial bank. Processing 2 to 8 weeks. Approval is granted for legitimate documented outflows (capital gain on property sale is standard) but takes time.

What happens if the FET is missing

Three scenarios:

• Original FET exists but is lost: the issuing bank can usually reprint a certified copy from archives up to 10 years back (Bank of Thailand record retention).
• No FET was ever issued (purchase was under the 50,000 USD threshold in older cycles): remittance is possible but requires Bank of Thailand approval and proof of foreign-currency origin via old SWIFT records.
• Purchase was funded by a Thai source (company structure, Thai partner’s account): repatriation abroad in foreign currency is very restricted. The seller may be limited to remitting a gift or transferring to their own foreign account through normal outward remittance limits (typically 5M USD per year for individuals under current Bank of Thailand regulations, documentation required).

Foreign sellers who bought through non-FET structures often hold Thai Baht in-country for years because repatriation is uneconomic. This is a consequence of buying outside the standard foreign-quota framework and is covered in more detail in transferring money into Thailand for a condo.

Tax residency and remittance

Thai tax residents (180+ days in Thailand per year) had been subject to a rule that foreign-source income remitted in the same year became taxable. The January 2024 Revenue Department reinterpretation (Order No. P.161/2566) extended this to include foreign-source income earned in any prior year and remitted later. This has no direct bearing on condo sale proceeds (the sale itself is Thai-source income taxed at source via Section 50(5) withholding), but it matters if sale proceeds are first remitted abroad and later brought back.

5. Pricing your condo

Price against three data sources: recent Land Department transfer records for the same building, active and sold FazWaz / Hipflat comparables in the same area, and the building’s own resale history via the juristic person. Do not price against developer-launch prices — those are always optimistic benchmarks.

Comparable-sale method

The most reliable price anchor is transfer data from the local Land Office. Under Thai law, any person can request transfer records for a specific building for a small fee (500 to 2,000 THB). The records show transfer date, appraised value, and declared sale price for each unit transfer. A lawyer or agent handling the sale can pull this.

For the 5,000,000 THB Jomtien reference unit in a 2019-completed building, typical comparable-sale pattern 2024-2026:

• Unit A (1BR 36 sqm, 7th floor, side view): sold 2024 for 4,200,000 THB.
• Unit B (1BR 38 sqm, 15th floor, sea view): sold 2025 for 4,900,000 THB.
• Unit C (1BR 38 sqm, 22nd floor, sea view): sold 2026 for 5,100,000 THB.

Pricing the seller’s unit (1BR 38 sqm, 18th floor, sea view) at 5,000,000 THB sits within this distribution and is defensible.

FazWaz / Hipflat active listing method

Active listings reflect what sellers are asking, not what buyers are paying. As a rule of thumb, actual sale price runs 85 to 92% of median active listing price in a given building. Thus a Jomtien 1BR with a median FazWaz listing of 5,500,000 THB likely transacts at 4,700,000 to 5,100,000 THB.

Price positioning strategy

Three options:

• Price at market median (break-even with good comparables). Sells in 6 to 12 months with normal marketing.
• Price 5% below median (priced-to-move). Sells in 2 to 6 months. Appropriate if the seller has a deadline, tax-timing reason, or currency trigger.
• Price 5 to 10% above median (testing the market). Sells in 12 to 24 months, sometimes not at all. Only appropriate if the seller is not under time pressure and the unit has a genuine differentiation (view, floor, corner).

Most foreign sellers overprice by 10 to 20% and carry the listing for 12 to 24 months before meaningfully reducing. The carry cost (CAM, tax, vacancy, price drift) over 18 months typically exceeds what the overprice ever could have captured.

6. Marketing channels and agent selection

The Thai secondary condo market in 2026 runs through four portals plus individual agents. Serious foreign sellers list on all four simultaneously and work with one exclusive primary agent for 3 to 6 months at a time.

The four major portals

• FazWaz. Largest foreign-buyer-focused portal. English interface, strong Pattaya and Phuket inventory, integrated messaging. Listing is free; agents pay for prominence.
• Hipflat. Bangkok-dominant, good for investors. Has a “Hipflat Index” comparable-sale data feature which helps sellers anchor pricing.
• DDProperty. Thai-audience portal, useful if the target buyer is a Thai investor or a Bangkok relocator. Larger total audience but lower conversion for foreign-focused beachfront units.
• Thailand-Property (formerly Thailand-Property.com). Asia-wide expat audience, strong in Hong Kong, Singapore, and mainland China buyer flow.

Private listing (pocket listing)

High-value units (15M THB+) sometimes sell off-market through individual agents’ private buyer databases without ever being listed publicly. This route preserves privacy and avoids “days on market” accumulation, but requires an agent with a genuine high-net-worth buyer network. Verify the agent has recent 15M THB+ comparable transactions.

Agent selection

Questions to ask before signing any exclusive agency agreement:

1. How many units has the agent transacted in this specific building in the past 24 months?
2. What is the agent’s average listing-to-sale ratio (percentage of exclusive listings that actually sold under the agent’s handling)?
3. Does the agent hold a Thai property agent licence? (Thailand does not yet have mandatory licensing, but the Real Estate Broker Association of Thailand issues a voluntary credential.)
4. Is the commission fixed at a single percentage, or are there performance tiers?
5. Is photography and marketing material included, or at additional cost?

Red flags: agents who promise a sale price well above comparable data, who demand an up-front “marketing fee” (pay on completion is standard), or who list the unit on their portals with prices above what they told the seller.

Direct-by-owner sales

Selling direct without an agent is legal and saves the 3 to 5% commission. It requires the seller to:

• Take and manage listing photos.
• Reply to buyer enquiries in English, Russian, Chinese, Thai as needed.
• Schedule viewings (usually in-person — a challenge if the seller is abroad).
• Negotiate and draft the SPA (lawyer-prepared, paid separately).
• Attend the Land Department or appoint a POA.

For foreign sellers living outside Thailand, direct-by-owner sales rarely work except with pre-existing buyers. The time and logistics cost is usually higher than the saved commission.

7. Common resale mistakes

The three most expensive mistakes by foreign sellers are holding too long with an overpriced listing, misunderstanding the leasehold-to-leasehold transfer mechanism, and forgetting the FET form.

Waiting too long

A unit that does not sell at asking price in the first 90 days is priced above market. Market data from FazWaz 2025 shows that units originally listed in the top 25% of price-per-sqm for their building take 3 to 5 times longer to sell, and ultimately transact at 10 to 15% below the initial asking price — worse than if they had been correctly priced from launch.

Overpricing against nominal purchase price

Foreign sellers often anchor to “I paid 5M for it in 2020, I want 5.5M”. If the market says 4.8M, the unit is 4.8M. Buyers do not care what the seller paid. Anchor pricing is the single most common cause of stale listings.

Leasehold resale complications

A leasehold Thai condo sold to a new foreign buyer is not a freehold-style transfer. The existing lessee transfers their leasehold interest (the remaining term of the 30-year lease) to the new buyer through a “deed of transfer of leasehold rights” at the Land Department. Three complications:

1. Lessor consent is usually required under the original lease agreement. The lessor (the freeholder, often the developer) can refuse or charge a transfer fee (5 to 15% typical).
2. The new buyer receives only the remaining lease term — a unit originally leased in 2015 for 30 years resold in 2028 offers only 17 years remaining. This prices at a steep discount.
3. Renewal option clauses in the original lease are not always enforceable; Thai Supreme Court rulings have split on this.

See freehold vs leasehold condos for the full legal framework. Foreign sellers of leasehold units should expect 30 to 50% discounts vs comparable freehold and should price accordingly.

Missing FET form

A foreign seller without the original FET cannot efficiently repatriate proceeds abroad. Sellers in this position sometimes list a unit for 6 to 12 months, complete the sale, and then discover they cannot remit the 4,700,000 THB proceeds home without Bank of Thailand approval. Check the FET exists before listing.

Juristic person debt

Any unpaid CAM or sinking fund liability must be cleared before the juristic person issues the no-debt letter. Sellers who have been abroad and missed CAM payments face surprise bills of 50,000 to 200,000 THB at transfer, plus interest and penalty. Settle CAM current before listing.

Unrealistic timelines

The minimum realistic timeline from listing to cash in foreign bank account is 4 to 6 months. Planning a relocation that requires sale proceeds by a specific month typically forces a discounted sale. Start the process 12 months before funds are needed.

8. Timeline: how long does it take to sell?

Typical time-to-sell from list to Land Department transfer in 2026: 6 to 12 months for well-priced foreign-quota beachfront units, 12 to 18 months for Thai-quota units needing a Thai buyer, and 18 to 36 months for leasehold or unusual structures. Add 4 to 10 business days after transfer for funds to arrive abroad.

Cushman and Wakefield Thailand Market Beat Q1 2026 reports median resale days-on-market across major cities:

Market	Foreign-quota units	Thai-quota units
Bangkok CBD	4 to 8 months	3 to 6 months
Bangkok outer	6 to 12 months	5 to 10 months
Pattaya (Jomtien, Wongamat, Central)	6 to 10 months	12 to 24 months
Phuket beachfront	4 to 9 months	8 to 16 months
Hua Hin	8 to 14 months	12 to 24 months
Chiang Mai	10 to 18 months	8 to 14 months
Koh Samui	10 to 18 months	14 to 30 months

Factors that shorten sale time:

• Foreign-quota status confirmed and documented.
• Price within 5% of comparable median.
• Professional photography and floor plan.
• Vacant and show-ready condition.
• Recent building refurbishment or new management.

Factors that lengthen sale time:

• Thai-quota unit restricting the buyer pool to Thai nationals or Thai spouses.
• Leasehold with short remaining term.
• Building near or above 49% foreign quota (blocks future foreign buyers).
• Pending juristic person lawsuit or special assessment.
• Outdated interior or visible maintenance defects.

9. Tax planning strategies before selling

The three highest-value tax-planning moves for a foreign seller are: time the sale to the 5-year SBT threshold, maximise the years-held deduction on withholding, and document the original FET for clean repatriation. These three moves routinely save 5 to 10% of sale value on a typical transaction.

The 5-year SBT cliff

SBT at 3.3% of sale value versus stamp duty at 0.5% of sale value is a 2.8 percentage-point gap. On a 5M THB sale, that is 140,000 THB. On a 15M THB Phuket beachfront: 420,000 THB.

The counting mechanism is strict: the 5-year period runs from the date of the original Land Department transfer to the seller, to the date of the new transfer from the seller. Not from SPA signing, not from purchase deposit. Always pull the title deed and check the exact registration date.

A seller approaching the 5-year mark with a willing buyer should consider: (a) signing the SPA before the anniversary with a long-stop date that forces transfer after the anniversary, or (b) paying a deposit premium to push the buyer to delay transfer to the post-anniversary date. Both require care on the buyer’s side to keep the deal alive.

Years-held deduction maximisation

The years-held deduction table (Ministerial Reg No. 126) rises sharply through year 8:

Years held	Deduction
1	92%
3	77%
5	65%
7	55%
8+	50%

Counter-intuitively, the deduction falls with more years held — because the law treats longer-held property as more likely to have generated taxable gain. But because the “taxable amount per year” is also divided by years held (pushing into lower progressive rates), the effective total withholding stays modest. The table favours 3 to 5-year holders; very long holders and very short holders pay slightly more on a proportional basis.

Structuring advice to avoid

Schemes promoted by some informal agents (“sell through a Thai company for 0% tax”, “use a Hong Kong wrapper”) almost always violate Revenue Code Section 37 (tax evasion) and Section 49 bis (transfer pricing). The Revenue Department cross-checks Land Department appraised-value data against declared sale prices and has levied reassessments on hundreds of under-reported foreign sales in 2024-2025. Do not under-report.

Gifting to a Thai spouse

A foreigner legally married to a Thai national cannot register the condo in the spouse’s name as Thai-quota property post-purchase without re-registration, which triggers full transfer costs plus potential gift tax. This is not a tax-saving route; it is a succession-planning route. See condo inheritance in Thailand for the succession framework.

Timing distributions

For foreign sellers who are also Thai tax residents, the timing of remittance matters. Sale proceeds withheld at source under Section 50(5) are final on the Thai side; but subsequent remittance of those proceeds abroad and back can trigger foreign-source income rules under the 2024 reinterpretation. A short conversation with a Thai-qualified tax adviser before transfer typically costs 5,000 to 15,000 THB and can save multiples of that.

FAQ

Can a foreigner sell a Thai condominium directly to another foreigner?

Yes, provided the unit is in the foreign quota and the building has not exceeded 49% foreign saleable area. The buyer must remit purchase funds in foreign currency against a fresh FET form. No Thai nominee or intermediary is required or helpful. See the 49% foreign quota rule.

Do I have to be in Thailand to sell my condo?

No. A notarised Power of Attorney (POA) in Thai, legalised at the Thai embassy or consulate in the seller’s country, authorises a Thai lawyer or agent to attend the Land Department and sign on the seller’s behalf. POA preparation takes 2 to 4 weeks; embassy legalisation adds 1 to 3 weeks.

How long does it take to get my money after the Land Department transfer?

The Thai Baht cashier’s cheque is paid on the transfer day. Deposit into the seller’s Thai bank account: same day or next business day. Conversion to foreign currency and outward remittance against the FET: 3 to 10 business days. Total from transfer date to funds abroad: typically 5 to 12 business days.

Can I remit more than the original FET amount?

Yes, but the excess requires Bank of Thailand Tor Tor 4 approval submitted through the commercial bank. Approval for a legitimate capital gain on property sale is routine but takes 2 to 8 weeks. The alternative is holding the excess Thai Baht in a non-resident Baht account and remitting in subsequent years.

What happens if the building is already over 49% foreign quota when I try to sell?

The unit can still be sold to another foreigner if it is already registered as a foreign-quota unit (the buyer simply takes over the existing foreign-quota allocation). It cannot be sold to a Thai and then re-sold to a foreigner — once a unit goes to Thai quota, it stays Thai quota until the building’s foreign quota drops below 49%. For foreign sellers this is rarely a barrier; for foreign buyers it is a major screening criterion.

Do I pay capital gains tax in my home country on the sale of my Thai condo?

Thailand has no separate CGT, but your home country probably does. Thailand has double-taxation agreements with most major countries (UK, US, Germany, France, Australia, and 60 others) which typically give credit for Thai withholding tax paid against home-country CGT. Consult a tax adviser in your home country; the Thai tax receipt from the Land Department is the evidence of Thai tax paid.

Can I sell my Thai condo to my own company to avoid tax?

Sale to a related Thai company triggers transfer pricing rules under Revenue Code Section 65 bis (4). The Revenue Department will assess the sale at market value regardless of the declared price, so no tax saving. Sale to a related foreign company triggers the same assessment plus foreign-exchange compliance review. Not a viable strategy.

How much is the agent commission really?

3% is typical for open listings where multiple agents can bring buyers. 5% is typical for exclusive listings where one agent handles photography, portal marketing, and direct buyer outreach. Hybrid models (3% base + 1% performance bonus for selling above a threshold) are appearing in the high-end market. Always get the commission structure in writing before signing anything.

Should I refurbish before selling or sell as-is?

Minor cosmetic refurbishment (paint, deep clean, replace damaged soft furnishings) at 50,000 to 150,000 THB typically adds 200,000 to 500,000 THB to final sale price on a 5M THB unit. Major refurbishment (new kitchen, new bathroom, structural alterations) at 300,000 to 1,000,000 THB rarely pays back in full. Rule of thumb: spend on presentation, not renovation.

What happens to my furniture at sale?

Furniture is almost always included at an agreed price increment. A 5M THB unfurnished unit is quoted at 5.2 to 5.4M THB furnished. The furniture package is not separately documented at the Land Department — it is rolled into the total sale price. Sellers removing the furniture before sale should reduce the asking price accordingly.