The Joys and Pitfalls of
renting or buying Thai property

Buying Thai property
Renting vs buying Thai property

Last updated on September 15th, 2025 at 05:47 am

Contemplating the decision to rent or buy Thai property when it comes to a Condo or House necessitates careful consideration of personal circumstances, financial factors, and lifestyle preferences. With a diverse array of homes and condos for rent across the country, individuals can discover the ideal living space that caters to their needs. Opting to rent an apartment delivers flexibility and affordability, whereas choosing to buy brings stability and the potential for long-term financial growth. Through evaluating individual goals and conducting comprehensive research, individuals can make an informed decision that aligns with their aspirations and ensures a fulfilling living experience in Thailand. Below, we try to provide some insight into the Pros and Cons of each option.

Understanding the Thai Property Market.

This section is under development. It will cover topics such as :

  • Don’t Buy until you are sure you want to stay in a specific area. 
  • Buying new is not always the best way to go.
  • Pros and Cons of each :

What property an Expat can buy in Thailand

Thai Home

Expats can buy condos and be shareholders on business that own property. However, they can not own the land itself.

Expats can buy condos. There is a 49% rule in place that allow Foreigners to only own up to 49% of the condos in a single building condo building, additionally, an Expat can be a co-owner with Thais of a business that owns a condo.

There are other options to buying a home since land can not be owner by Expats. You can do a long term rent or 30 years.  Build a home as you wish on the property, but keep in mind after 30 years the property and anything you build on it goes back to the original owner.

Tip: Land or DBD Office offer huge tax discounts at times !

Before buying a home, check for tax discounts

Thailand occasionally offers “specials discounts”  in which the tax rates for a property or business purchase can be discounted drastically. 

I have personally benefited from this taxes discount in which the tax rate went from 2% tax to 0.2%!

These are posted at the land office and DBD business registration websites as well as on Thai public news websites, however, if you don’t dig to find these promotions and request the discount, it will not likely to be offered at the time of the purchase. 

Reference example here: https://www.bangkokpost.com/business/general/2289726/land-and-building-tax-discount-in-effect-for-2022

Thailand’s DBD business registration office – click here 

Thailand s land and transport office-click here

 
The Pros and Cons of each method to reside in Thailand.
  • Condo Residence;
    • Buy in Foreign name
    • Buy in Thai name
    • Buy in Business name 
    • Renting a condo
  • House and Land;
    • Buy in Thai name
    • Buy in Business name
    • 30-year lease
    • Annual rental

Should Expats carry property Insurance in Thailand

Home Insurance

Home insurance in Thailand is often overlooked,  but should be considered to protect your investment and liability. Whether you’re renting a condo in Pattaya or own a villa in Phuket, Thailand is susceptibility to natural disasters like floods and the unique legal considerations for foreign property ownership, having adequate coverage is an important consideration. Property insurance options range from basic fire coverage to comprehensive plans that protect against theft, liability claims, and damage to personal belongings.

Property insurance Thailand typically includes several core coverage types that can be customized based on your specific needs:

Building Insurance

This covers the physical structure of your property, including walls, roof, built-in fixtures, and permanent installations. For foreign property owners, ensuring accurate valuation of your building is crucial, as reconstruction costs in Thailand may differ significantly from your home country.

Contents Insurance

This protects your personal belongings such as furniture, electronics, clothing, and household items. When purchasing home insurance in Thailand, you can typically choose between “new for old” replacement or actual cash value coverage for your possessions.

Personal Liability

This important but often overlooked coverage protects you financially if someone is injured on your property or if you accidentally damage someone else’s property. For foreigners operating vacation rentals or frequently entertaining guests, this coverage is particularly valuable.

Additional Coverage Options

Many insurers offer specialized add-ons to basic household insurance Thailand policies:

  • Flood insurance – Essential in low-lying areas and during monsoon season
  • Earthquake coverage – Important in northern regions
  • Theft protection – With varying requirements for security measures
  • Accidental damage – Covers unintentional damage to your property
  • Temporary accommodation – Pays for alternative housing if your home becomes uninhabitable