Condominium purchase and ownership costs in Thailand

Costs at purchase

Request an itemised estimate of registration and transfer charges, applicable taxes, legal advice, bank and currency exchange costs, and any amounts due to the condominium. Ask which party pays each item and what is included in the quoted price.

Government guidance describes transfer fees, but rates, concessions and allocation can depend on the transaction and change over time. Have your lawyer and the relevant land office confirm the current amount for your purchase.

Costs over time

Ask for the current common-area charge, payment frequency, any sinking fund contribution, utilities, insurance and maintenance responsibilities. Clarify what the charge covers and how future budgets and extraordinary works are decided.

If you plan to rent, include management, repairs, vacant periods and any applicable tax in your own budget. Request current figures rather than relying on an assumed return.

Build a purchase budget

Begin with the price for the specific unit and add each known one-time cost separately. Ask whether the price includes furnishings, appliances, taxes, registration, legal work and any contributions payable at handover. Record unknowns as unknown until you receive written figures.

For foreign currency purchases, ask your bank for its exchange rate, transfer and receiving charges and how long the quote remains valid. Exchange rates can move between budgeting and payment. Keep a contingency in your own currency and confirm the final amount before transferring.

Understand the building budget

Ask for the basis of common-area fees, the payment schedule and the latest available budget. What services are included? Are insurance, security, maintenance and management covered? Can the charge change, and how are decisions made? Request the rules and supporting documents rather than relying on a verbal estimate.

A reserve or sinking fund may be separate from recurring charges. Ask whether a contribution is due at purchase, what it supports and how future major repairs are funded. Confirm who pays any outstanding amounts for the unit.

Compare on the same basis

When comparing residences, use the same time horizon and assumptions. Separate one-time acquisition costs from annual expenses and potential future capital repairs. A low headline price does not reveal the whole cost of ownership.

Tax depends on the owner, use and transaction. Ask a qualified adviser about purchase, ownership, letting and eventual sale in your circumstances, including obligations outside Thailand where relevant. Revisit the budget when actual figures change.