Question 1

Can foreigners own a condo in Phuket freehold?

Accepted Answer

Yes. Under Thai condominium law, foreigners can own condo units freehold (chanote title) provided foreign ownership does not exceed 49% of the total saleable area in the building. This is the simplest and most secure form of property ownership available to foreigners in Thailand. The purchase process is straightforward: funds must be transferred from overseas in foreign currency, with a Foreign Exchange Transaction Form (FETF) issued by the receiving Thai bank as proof. MechThai verifies foreign quota availability before you commit to any purchase.

Question 2

What rental yields can I expect from a Phuket condo?

Accepted Answer

Rental yields for Phuket condos typically range from 5% to 10% net annually, depending on location, management quality, and unit type. Condos in high-tourism zones like Kata, Karon, and Patong achieve 7-10% through short-term rental programs. Bang Tao and Surin condos yield 6-8% with a mix of holiday and medium-term rentals. Many developers offer guaranteed rental return programs of 6-8% for the first 3-5 years. Studio and one-bedroom units generally achieve the highest yield percentages, while larger units offer stronger capital appreciation.

Question 3

What are the ongoing costs of owning a condo in Phuket?

Accepted Answer

Common area maintenance (CAM) fees range from ฿40-80 per sqm per month, covering pools, gyms, security, and building maintenance. A sinking fund contribution is typically paid once at purchase (฿500-1,000 per sqm). Annual property tax is minimal for residential properties under Thai law. If using a rental management company, expect fees of 20-30% of gross rental income, covering marketing, guest management, cleaning, and maintenance. Utility costs for an unoccupied unit are minimal. Total annual holding costs for a ฿5M condo are approximately ฿50,000-80,000 excluding rental management.

Condominiums in Phuket
freehold ownership for foreigners

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Condominiums in Phuketfreehold ownership for foreigners