How the 49% foreign-ownership quota actually works, what changed with 2026 nominee-structure enforcement, where the pending 99-year leasehold reform stands, and which nationalities and regions are driving Thailand's foreign condo market right now.
Thailand's condominium market has run on the same core rule for foreign buyers since 1979: a 49% freehold ownership quota per building. What has changed is everything around it — enforcement against nominee structures tightened sharply in 2026, a long-discussed 99-year leasehold reform remains stuck in the legislative pipeline, and the buyer-nationality mix is shifting fast, with Chinese demand cooling while Myanmar and Russian buyers surge. This report walks through the legal mechanics, the 2026 enforcement changes, and the current data on who is buying, where, drawing on the Real Estate Information Center (REIC), the Department of Lands and the Board of Investment (BOI).
The Condominium Act B.E. 2522 (1979), amended by B.E. 2551 (2008), caps foreign freehold ownership at 49% of a condominium building's total registered floor area. The remaining 51% must remain Thai-owned. This is a per-building limit — every registered condominium tower has its own quota, tracked and enforced by the Land Department, and two towers within the same master development can sit at different points toward their individual 49% cap. The rule has not changed in over four decades, and it is the single most important legal fact for any foreign buyer to understand before shortlisting a unit.
In late April 2026, the Department of Lands and allied Thai government agencies formalized a cooperation pact enabling real-time cross-checking of company shareholder data against land-title registries. This closes a long-standing gap: previously, a Thai-majority company nominally holding land or a condominium quota-exempt structure could be funded and effectively controlled by a foreign buyer with limited practical scrutiny. Now, land offices can flag transactions showing nominee-arrangement indicators — disproportionate foreign funding relative to declared Thai shareholding, for instance — and refer them for criminal investigation. Anyone using or considering a Thai company structure to hold property should treat this as a materially higher-risk environment than it was even twelve months ago, and should have that structure reviewed by a Thai property lawyer against the current enforcement posture, not historical norms.
A bill to extend Thailand's maximum statutory lease term for non-agricultural land — residential, commercial and industrial — from 30 to 99 years was fast-tracked through parliamentary readings in late 2025. As proposed, it would let lessees register, mortgage, transfer and inherit the lease during its term, with the land itself reverting to the state only at the end of the full 99 years. As of mid-2026, however, the bill has not received final Royal Assent or been published in the Royal Gazette, so it is not yet law. Thirty years remains the legal maximum leasehold term today, and any renewal beyond that is a matter of contractual negotiation between landlord and tenant rather than a legal guarantee. Buyers relying on a leasehold structure should plan around the current 30-year framework and treat the 99-year reform as a possible future improvement, not a certainty to build a purchase decision around.
China remains Thailand's largest source of foreign condo buyers, but its share is shrinking on both measures. Meanwhile Myanmar surged to become the second-largest buyer nationality for full-year 2025, and Russia overtook the field to become the second-largest buyer nationality specifically in the first quarter of 2026 — with transaction value growing more than twice as fast as unit count, suggesting a move into higher-end product. India is emerging as a distinct segment, buying larger family-sized units more associated with long-term residency planning than pure investment.
| Nationality | Units transferred | YoY change | Transfer value | Notes |
|---|---|---|---|---|
| China | 4,940 units (2025) | -12.9% YoY | THB 18.59bn (-30% YoY) | Still #1 by units and value; concentrated in Bangkok, Chonburi and Chiang Mai |
| Myanmar | 1,968 units (2025) | +41.8% YoY | Not separately reported | Jumped to #2 for full-year 2025, the sharpest gainer among major buyer nations |
| Russia | 383 units (Q1 2026) | +33% YoY | THB 1.67bn (+68.7% YoY) | Became the 2nd-largest buyer nationality in Q1 2026; value growing faster than unit count, pointing to higher-end purchases in Phuket and Pattaya |
| India | Rising, not yet top-3 | Growing | Not separately reported | Emerging as a distinct segment buying larger, family-sized units linked to residency planning rather than pure investment |
Figures for China and Myanmar cover full-year 2025; Russia's figures are for Q1 2026 specifically, the period in which it overtook other nationalities to rank second. India figures are directional, reflecting an emerging trend rather than a published unit count.
No single region leads on every measure. Bangkok dominates by transaction value and nationality breadth; Chonburi (effectively Pattaya) dominates by sheer unit count at more affordable price points; and Phuket, while smaller in volume, is seeing the fastest value growth of the three, driven by luxury and high-priced housing demand.
| Region | Leads on | 2025 figure | Character |
|---|---|---|---|
| Bangkok | Largest by value | THB 6.14bn — 45.63% of total foreign transfer value (2025) | Draws the broadest nationality mix, led by Chinese buyers; premium on transit-connected, newer towers |
| Chonburi (Pattaya) | Largest by unit count | 1,167 transfers — 36% of all foreign-buyer transactions (2025) | Primarily Chinese and Russian demand; more affordable per-unit pricing than Bangkok or Phuket |
| Phuket | Fastest value growth | +34.9% YoY transfer value (2025) | Driven by high-priced and luxury housing demand; smaller unit numbers but disproportionate value growth |
| Chiang Mai | Secondary Chinese hub | Named alongside Bangkok and Chonburi as a Chinese-buyer concentration | Established but smaller foreign-buyer market versus the three leaders above |
Foreign condo transfers rose 2.2% to 14,899 units in 2025, which on its own would read as a healthy year. But total transaction value fell 10.7% to THB 60.9 billion over the same period. Put together, these two figures point to the same underlying story told by the nationality data: the buyer mix is shifting from fewer, higher-spending Chinese buyers toward a larger number of buyers from Myanmar, Russia and other markets purchasing more moderately priced units. For sellers and developers, this means the addressable foreign-buyer market has broadened even as the average deal size has shrunk — a market that rewards well-priced, well-located mid-market product more than it rewards top-of-market pricing on volume alone.
Foreign condominium transfer statistics (unit counts, year-on-year changes and transfer values by nationality and region) are drawn from Real Estate Information Center (REIC) data as reported through established Thai business press (Nation Thailand, Khaosod English) covering REIC's official releases; BAANLYY has not independently re-derived REIC's raw dataset. Legal and regulatory detail on the foreign-ownership quota, the 2026 nominee-enforcement cooperation pact, and the pending leasehold reform is drawn from the Condominium Act B.E. 2522/2551, public reporting on the April 2026 Land Department cooperation announcement, and coverage of the leasehold-reform bill's parliamentary progress. All figures reflect condominium unit transfers specifically, not landed property, villas or off-plan reservations, and should be treated as directional market intelligence rather than a substitute for a current Land Office check or licensed legal advice on any individual transaction.
More, by unit count: 14,899 units transferred to foreign buyers in 2025, up 2.2% on the prior year. But total transaction value fell 10.7% to THB 60.9 billion, meaning the average foreign buyer is now purchasing a less expensive unit than a year earlier — a rebalancing toward more affordable stock rather than a simple slowdown.
China remains the largest foreign buyer nationality by both units and value — 4,940 units and roughly THB 18.59 billion in 2025 — though both figures fell year on year (-12.9% and -30% respectively). Myanmar overtook other nationalities to rank second for full-year 2025 with 1,968 units (+41.8%), while Russia became the second-largest buyer nationality specifically in Q1 2026, with unit and value growth outpacing China.
Bangkok takes the largest share of transaction value (45.63% of the 2025 total), reflecting its broad, established foreign-buyer base. Chonburi province — driven overwhelmingly by Pattaya — leads on unit count, accounting for 36% of all foreign-buyer transactions nationwide. Phuket stands out for value growth rather than volume, posting a 34.9% year-on-year rise in foreign transfer value on the back of high-priced and luxury demand.
A bill to extend the maximum statutory lease term from 30 to 99 years was fast-tracked through parliamentary readings in late 2025, but as of mid-2026 it has not received final Royal Assent or been published in the Royal Gazette — meaning it is not yet law. Until it is, 30 years (with negotiated renewal options) remains the legal maximum lease term, and legal practitioners advise structuring deals on that basis rather than assuming the reform will pass on any particular timeline.
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.
BAANLYY can connect you with vetted property lawyers for quota checks, leasehold structuring and BOI-linked projects.
Hero photo by Expect Best on Pexels. General information only, not legal, tax or investment advice. Foreign-quota status, leasehold law, nominee-enforcement practice and buyer statistics change over time; confirm current details with the Department of Lands, the Board of Investment, or a licensed Thai property lawyer before acting.