Chiang Mai Real Estate: Your Essential Property Questions Answered

International transfers can be made through your home country's bank or specialized brokerage companies, each offering advantages based on your needs.

Transfers between your home country and Thailand are legal. You can use banks or specialized brokerage companies for international transfers.

Yes, you can transfer money from your Thai account to an overseas account using many banking smartphone applications, subject to conditions.

Yes, foreigners can open various types of bank accounts in Thailand, such as savings accounts or foreign currency accounts, depending on their residency status.

A sinking fund is a one-off payment into the building reserve for major repairs such as lifts, roofs and structural work. It is separate from the monthly maintenance fee.

In Chiang Mai it typically runs 300 to 600 baht per square metre of your unit, paid at transfer on a new build. On a resale, ask to see the current balance of the fund, because a depleted fund can mean extra charges later.

Maintenance fees cover expenses related to the operation and maintenance of the building's communal spaces, these are calculated in proportion to the surface area owned by each co-owner in a condominium.

No. Thai property transfers do not go through a notary. The sale is registered directly at the Land Department. Your costs are the transfer taxes and fees, plus a lawyer if you use one, which I recommend for checking the title and the contract. Lawyer fees vary by firm.

Agency fees in Thailand are covered by the seller and included in the property's selling price. Buyers typically do not incur agency fees.

Yes. You can furnish a property and rent it out on monthly or yearly leases. It takes local market knowledge and good property management. Try my rental yield calculator to see realistic returns for a specific property.

Renting for less than 30 days at a time counts as a hotel business under Thai law and needs a hotel licence, which ordinary condos and houses do not have. Many condo buildings also ban short stays in their rules.

Monthly or longer rentals are legal, and they are what most owners here do.

They can work, but look carefully. The guaranteed return is only as strong as the developer or operator behind it. It usually runs for a fixed number of years, and it is often built into a higher purchase price.

Check who pays the guarantee, what happens when it ends, the track record of the operator, and how easily you could resell the unit. My guide to scams and red flags covers what to check.

The Land Department is the government agency responsible for issuing land titles, registering real estate transactions in Thailand, and dealing with topography and land mapping issues.

Freehold means you own the property outright. As a foreigner you can do this with a condo unit, as long as the foreign quota of the building (49% of the total unit area) is not already full. You cannot own land freehold.

Leasehold means you register a lease on the land or house at the Land Department, and the maximum registered term is 30 years. Many contracts add options to renew for further terms, but those renewals are promises in the contract, not rights registered on the title, so they rely on the owner or their heirs honouring them.

You may also see 99-year leases advertised. As of September 2026 that is still a proposal, not law.

A Thai limited company can own land, but only if Thai shareholders genuinely own the majority and put in their own money. Using Thai nominees who hold shares on behalf of a foreigner is illegal, and the authorities are actively investigating these structures.

A foreigner can hold up to 49% and be a director. The company also needs a real business, with accounts and tax filings every year. For most home buyers, a registered lease or a freehold condo is simpler and safer. My nominee crackdown guide explains the risks.

A Condominium is an apartment building that has obtained a Condominium license before its construction and whose legal status is governed by the Condominium Act.

A foreigner cannot fully own land in Thailand. Only persons of Thai nationality can hold a (chanote) title to a piece of land. There are a few exceptions involving large investments and rather restrictive procedures.

Yes, with limits. A foreigner can own a condominium unit outright (Foreign Freehold) in a building with a condominium licence, as long as the foreign quota is not full. You can also own a house as a building while holding the land under a registered lease. You cannot own the land itself.

You can sell privately or through an agent. If your property is in Chiang Mai, I can help. Tell me about it on my list your property page.

To maximize your chances, consider market research, professional photography, a compelling sales pitch, clarifying the property's legal status, and consulting multiple agencies.

Many factors impact the time taken to sell a property, many of which are out of our control, we can not give a definitive timeline. However, we work hard to give your property as much exposure as possible. Two of the main deterrents to an expedited sale/rent is the pricing and presentation, so it is important to be realistic about what you can ask for.

You can sell your property in Thailand, either independently or through various channels such as a real estate agency or property developer.

Withholding tax comes up in two situations. When a property is sold, withholding tax on the sale is collected at the Land Department on transfer day. If the seller is an individual, it is calculated on the government appraised value, using progressive income tax rates after a deduction for the number of years they have owned the property. If the seller is a company, it is 1% of the appraised value or the sale price, whichever is higher. Who pays it is negotiable, so make sure it is written into the sale contract.

Separately, if you buy into a development or hotel-managed property with guaranteed rental income, the operator deducts withholding tax from your payouts, typically between 3% and 15% depending on the case.

On a typical resale in Chiang Mai, these costs are paid at the Land Department on transfer day: a transfer fee of 2% of the official appraised value, the withholding tax on the sale (see the question above), and either specific business tax of 3.3% if the seller has owned the property for less than five years, or stamp duty of 0.5% if they have not. Buyer and seller agree in the contract who pays which, and I check that line with every buyer before they sign. My Thailand property tax guide walks through a worked example.

Yes. The Land and Building Tax, in force since 2020, is paid each year to the local authority and is based on the appraised value. For a home that is not your registered main residence, including one you rent out, the rate starts at 0.02% for the first 50 million baht of value.

Commercial property starts at 0.3%. Vacant or unused land is taxed at the commercial rate, and the rate rises if it stays unused. My Thailand property tax guide has worked examples.

Only on large inheritances. The tax applies when a single heir receives more than 100 million baht in total. The amount above 100 million baht is taxed at 10%, or 5% for parents and children of the deceased. Spouses are exempt.

For how leases, condos and wills are handled when an owner dies, see my inheritance guide.

Thailand and your country may have a Double Taxation Treaty that determines taxation on real estate income. It's advisable to consult competent authorities and lawyers in your home country for guidance.