Thailand land & development market intelligence: prices, taxes & BOI
The national data view of Thailand’s land and development market — raw land price trends across Bangkok’s transit corridors, the Eastern Economic Corridor and resort islands, the transfer fees, taxes and duties that apply to a land deal, how foreign-ownership structures are actually being used, and BOI incentive uptake for development projects. Indicative, educational figures built for investors and developers — never legal or tax advice.
2%Standard land transfer feeOf the official appraised value, commonly split buyer/seller
3.3%Specific Business Tax (SBT)On sales within 5 years by companies or frequent sellers, in lieu of stamp duty
0.3-1.2%Land & Building Tax (commercial/other use)Annual rate band; residential and agricultural rates run far lower
30+30 yrCommon leasehold structureTypical renewable leasehold term used by foreign investors and developers
The one-line version
Land along Bangkok’s expanding transit corridors and within the Eastern Economic Corridor has generally shown the strongest price growth, while resort islands command high per-rai prices for scarce sea-view parcels. A typical deal carries a 2% transfer fee plus either Specific Business Tax (about 3.3%) or stamp duty (0.5%), on top of an annual Land and Building Tax that runs higher for commercial or vacant land. Foreigners cannot directly own land, so most structures rely on long-term leasehold, a Thai-majority company, or BOI Section 27 promotion — each with real limits that a Thai lawyer should confirm before committing capital.
01
Raw land price trends by region
Land pricing in Thailand does not move as one national market — it splits along infrastructure, industrial policy and tourism demand:
Bangkok transit corridors — land along the Purple, Pink and Yellow Line extensions and other planned mass-transit routes has generally seen the strongest urban-fringe appreciation, as transit-oriented development pulls demand outward from the historic core toward previously lower-value suburban plots.
Eastern Economic Corridor (EEC) — land in Chonburi, Rayong and Chachoengsao supporting industrial estates and logistics parks has been underpinned by BOI-zone investment and continued infrastructure buildout (U-Tapao airport expansion, high-speed rail, deep-sea ports).
Secondary cities — markets such as Chiang Mai have shown steadier, more moderate land appreciation, tracking population growth, tourism and a smaller base of institutional development activity.
Resort islands — Phuket and Koh Samui command comparatively high per-rai prices for scarce sea-view and beachfront parcels, driven by villa and resort development demand and constrained buildable supply.
These are directional patterns, not a substitute for a per-parcel appraisal — land value depends heavily on title type, zoning, road access and utility availability. See land title types and zoning & FAR rules for the factors that drive value parcel by parcel.
02
Transfer fees, SBT and land & building tax
A Thai land transaction typically involves several separate costs, not one flat fee:
Transfer fee — roughly 2% of the official (government-appraised) value, commonly split between buyer and seller by negotiation, paid at the Land Department on registration.
Specific Business Tax (SBT) — about 3.3% (inclusive of a municipal surcharge), generally applying when the seller is a registered company or an individual who has held the land under five years.
Stamp duty — 0.5%, applied instead of SBT when SBT does not apply (for example, an individual seller who has held the land five years or more).
Withholding tax — calculated differently for corporate and individual sellers, deducted at the point of transfer.
Land and Building Tax (annual) — owner-occupied residential and agricultural land sit at the lowest rates; commercial and other-use land runs roughly 0.3-1.2% of assessed value annually; land left vacant or unused can be taxed at escalating rates over time.
Rates, thresholds and who bears each cost are set by regulation and routinely negotiated between parties — treat the figures above as a starting point, not a quote, and confirm current rates with the property and land tax guide or a licensed conveyancing lawyer before signing.
03
Foreign-ownership-structure demand trends
Direct foreign land ownership remains restricted, so demand concentrates into a small set of recognized structures:
Long-term leasehold — the most common route for foreign buyers and developers, typically structured as a 30-year lease with renewal options, registered against the title at the Land Department.
Thai-majority limited company — a Thai company structure in which Thai shareholders hold the legal majority; nominee-shareholder arrangements that disguise real foreign control are restricted and actively enforced against, so this route requires genuine Thai capital participation and proper legal structuring.
BOI Section 27 land rights — see the incentive section below.
Demand for leasehold and BOI-linked structures has tracked broader foreign investment interest in Thai property and manufacturing, particularly from developers and manufacturers relocating supply chains into the EEC. See foreign ownership structures for a full breakdown of the legal mechanics and real limits of each option.
04
BOI incentive uptake for land & development
Board of Investment promotion remains a central lever for land-intensive projects. Under Section 27 of the Investment Promotion Act, a BOI-promoted company can, subject to its specific promotion conditions, be permitted to own land for its promoted activity even where majority foreign shareholding would otherwise restrict ownership — a meaningful advantage for manufacturers, large-scale developers and infrastructure operators. Beyond land rights, promoted projects can access corporate income tax holidays, import duty exemptions on machinery and raw materials, and streamlined work-permit processes for foreign specialists. Uptake has run highest in EEC-zone industrial and logistics land, targeted-technology manufacturing, and larger mixed-use or hospitality developments that meet minimum investment thresholds. Eligibility criteria, land-area limits and promoted-activity categories change periodically, so any project targeting BOI promotion should confirm current requirements directly with the BOI incentives guide or a BOI-registered project consultant before committing to a site.
Living Summary
Thailand Land & Development Market — Living Summary
Editorial analysis compiled and periodically refreshed by BAANLYY’s research team — not a live data feed.
What changed in Thai land pricing this year?
Per-rai prices along Bangkok's newest transit extensions (Pink and Yellow lines) and inside EEC industrial zones have continued to outpace national land-price growth, while land in areas without a clear infrastructure or industrial catalyst has moved far more slowly. The gap between 'story' land -- parcels with a transit, BOI-zone or tourism narrative -- and plain agricultural or unserviced land has widened rather than closed.
Is EEC land value growth still accelerating?
Land inside and adjacent to Eastern Economic Corridor industrial estates (Chonburi, Rayong, Chachoengsao) has kept appreciating as infrastructure milestones -- U-Tapao airport expansion, high-speed rail progress, deep-sea port capacity -- move forward, though the pace has moderated from the sharpest early-EEC-era gains as easy, well-located industrial plots become scarcer and buyers push further from the core zones.
Are BOI incentive zones drawing more development activity?
Yes -- BOI Section 27 land-rights promotion remains the single biggest lever pulling foreign-backed manufacturing and large-scale development onto Thai land, and uptake has stayed concentrated in EEC-zone industrial and logistics parcels plus targeted-technology and larger mixed-use projects that clear the minimum investment thresholds.
How are foreign buyers structuring land deals right now?
Long-term renewable leasehold remains the dominant structure for foreign buyers and smaller developers, while BOI Section 27 land rights are increasingly the preferred route for larger, capital-intensive projects that qualify for promotion. Thai-majority company structures continue to see use but face sustained regulatory scrutiny of nominee-shareholder arrangements, keeping genuine Thai capital participation a real requirement rather than a formality.
Analysis last reviewed July 2026.
Growth Trajectory
Thailand Land & Development Market — Growth Trajectory
2010s
Pre-EEC baseline
Land price growth outside central Bangkok tracked general economic growth and tourism expansion, with Phuket and Koh Samui already commanding a premium for scarce sea-view and beachfront parcels.
2018
EEC Act takes effect
The Eastern Economic Corridor Act formalized Chonburi, Rayong and Chachoengsao as a targeted investment zone, giving industrial and logistics land in the region a clear policy catalyst that reshaped buyer demand.
2019–2020
Transit-corridor land re-rates
Confirmed routes and extensions for the Purple, Pink and Yellow mass-transit lines pulled speculative and development-stage land buying outward from Bangkok's historic core toward previously overlooked suburban plots.
2020–2021
COVID-19 slowdown
Transaction volumes and price growth cooled sharply as tourism-linked land demand (particularly in resort markets) stalled and developers paused new land-banking pending clearer economic signals.
2022–2023
EEC and transit land recovers first
Land tied to concrete infrastructure progress -- EEC industrial estates and confirmed transit extensions -- recovered and re-accelerated faster than land with only a tourism or speculative story behind it.
2024–2026
Bifurcated market matures
The gap between infrastructure- and policy-linked land (EEC, transit corridors, BOI zones) and land without a clear catalyst has become a defining feature of the market, with per-rai pricing increasingly reflecting proximity to a specific project rather than broad regional trends.
Can foreigners buy land in Thailand?As a general rule, foreign individuals cannot directly own land in Thailand. The common workarounds are a long-term renewable leasehold (often structured as 30 years plus renewal options), a Thai limited company in which Thai shareholders hold the majority of shares (subject to nominee-shareholder restrictions that are actively enforced), or land rights granted to a BOI-promoted company under Section 27 of the Investment Promotion Act. Each route carries real legal and practical limits; a Thai property lawyer should structure and review any land acquisition before funds move.
What are the main transaction costs when buying land in Thailand?Expect a transfer fee of roughly 2% of the official appraised value (commonly split between buyer and seller by negotiation), plus either Specific Business Tax of about 3.3% (if the seller is a company or has held the land under five years) or stamp duty of 0.5% as an alternative when SBT does not apply. Withholding tax on the seller side also applies and is calculated differently for individuals and companies. These are indicative figures — confirm current rates and who bears each cost with the Revenue Department or a licensed conveyancing lawyer before signing.
How does BOI promotion affect land ownership for a development project?A company granted BOI promotion under Section 27 of the Investment Promotion Act can, subject to project conditions, be permitted to own land for its promoted activity even with majority-foreign shareholding, which is otherwise restricted. BOI promotion can also unlock corporate income tax holidays, import duty exemptions on machinery, and other incentives relevant to development projects, particularly in targeted sectors and zones such as the Eastern Economic Corridor. Eligibility, land area limits, and conditions vary by promoted category, so a BOI-registered project consultant should confirm the current criteria for a specific project.
Which regions are seeing the strongest land price growth?Land along new and extended Bangkok mass-transit corridors (Purple, Pink and Yellow lines and their extensions) has generally seen the strongest urban-fringe appreciation as transit-oriented development pulls demand outward from the historic core. Within the Eastern Economic Corridor (Chonburi, Rayong and Chachoengsao), industrial and logistics land has been supported by BOI-zone investment and infrastructure buildout. Resort markets — Phuket and Koh Samui in particular — see comparatively high per-rai pricing for scarce sea-view and beachfront parcels, driven largely by tourism-linked development and foreign demand for villa and resort projects, while secondary cities such as Chiang Mai have shown steadier, more moderate appreciation.
What is the Land and Building Tax and who pays it?Thailand's annual Land and Building Tax replaced the old house and land tax, with rates that vary by how the land is used: agricultural and owner-occupied residential land carry the lowest rates, commercial and other-use land sits in a higher band (broadly 0.3-1.2%), and land left vacant or unused for extended periods can be taxed at escalating rates over time as a disincentive to land-banking. The registered owner of record is responsible for payment, assessed annually by the local municipality. Rates, exemption thresholds and bands are set by regulation and can change, so confirm the current schedule with the Revenue Department or the relevant local administrative office.
Evaluating a Thai land or development deal?
BAANLYY can connect you with vetted property lawyers and BOI project consultants for land structuring and due diligence.
General information only — not legal or tax advice. Land prices, transfer fees, Specific Business Tax, stamp duty, Land and Building Tax rates and BOI promotion criteria change over time and are complex; always confirm current requirements with the Department of Lands, the Revenue Department, the Board of Investment, or a licensed Thai lawyer before acting. BAANLYY never takes paid placement.
Primary and official sources are cited above. Government rules, fees and procedures in Thailand change over time and vary by office; always confirm current requirements with the relevant authority before relying on them. BAANLYY never takes paid placement in editorial content.