Condos and apartments for sale in Phuket

Yes. A foreigner can own a condo unit freehold in their own name, provided foreign ownership of the building stays within 49% of the total unit floor area and the purchase money is transferred into Thailand from abroad in a foreign currency. If the quota is full, a 30-year registered lease is the usual alternative. This is general guidance, not legal advice.

It can be, but it depends on the building more than the island. Location, management, how many competing units are on the rental market, and the fees you pay all affect the return. A well-run building near the beach or Boat Avenue usually rents and resells more easily than one in an oversupplied area. Khun Mark would rather run the numbers on a specific unit than quote an average.

Prices range widely by area, view and age of the building. A studio inland and a sea-view penthouse in Surin are different markets. Tell Khun Mark your budget and he will show you what it buys.

Expect a transfer fee and taxes at the Land Office, and in many sales these are split between buyer and seller by agreement. You will also pay a common area fee to the building each year and, in new projects, a one-off sinking fund contribution. In outline, the Land Office charges a transfer fee of 2% of the government appraised value, often split 50/50. The seller usually pays specific business tax of 3.3% of the higher of the appraised value or sale price if they have owned the condo for less than five years, or stamp duty of 0.5% where specific business tax does not apply, plus withholding tax: for a company seller, 1% of the appraised value or the registered sale price, whichever is higher; for an individual seller, progressive income tax rates on the appraised value, after a deduction for the years held. Who pays what can be agreed differently in the contract. To be reviewed by a Thai lawyer.

Yes, many buyers do. Reserve with a deposit, then pay in stages as the building rises. Check the developer's finished projects, make sure the contract states which units are allocated foreign freehold, and have the unit snagged before the final payment.