Investing in Chiang Mai: Yields, Appreciation & Ownership
Who can buy, how ownership works, and the taxes and duties for buying property in Chiang Mai.
Who can buy in Chiang Mai
Under Thailand's Condominium Act 1979, foreigners can own condo units freehold provided total foreign ownership in a building does not exceed 49% of floor area. Foreigners cannot own land. A Foreign Exchange Transaction (FET) form proving foreign currency inflow is required.
| Buyer | Permitted | Tenure | Conditions |
|---|---|---|---|
| Thai Citizen | Yes | Freehold | UnrestrictedApproval: Land registry |
| Foreign National (condo within 49% quota) | Yes | Freehold | Condo units only; within 49% building foreign quotaApproval: FET form + Land Office registration |
| Foreign National (land or quota full) | Conditional | Leasehold | Leasehold up to 30 years renewable; no direct land ownershipApproval: Land Office registration |
Thailand rule, applies in Chiang Mai.
Stamp duty and registration in Thailand
Property transfers in Thailand incur a transfer fee and, depending on the holding period, either a Specific Business Tax or Stamp Duty. These are typically paid at the Land Department during registration.
| Property value | Stamp duty | Registration |
|---|---|---|
| All | 0.5% of sale/appraised value (if SBT not applicable) | 2% of government-assessed value (transfer fee) |
Thailand rule, applies in Chiang Mai.
Capital gains on a sale
Thailand does not have a standalone capital gains tax. Instead, profit from property sales is treated as income and subject to personal income tax, with rates varying based on the holding period and seller's profile.
| Holding period | Classification | Tax rate | Indexation |
|---|---|---|---|
| < 5 years | Specific Business Tax (SBT) | 3.3% of sale/appraised value (whichever is higher) | N/A |
| >= 5 years | Stamp Duty | 0.5% of sale/appraised value (whichever is higher) | N/A |
| All | Withholding Tax (Individual) | Progressive scale (5-35%) based on assessed value and ownership duration | N/A |
| All | Withholding Tax (Corporate) | 1% of sale/appraised value (whichever is higher) | N/A |
Thailand rule, applies in Chiang Mai.
Always consult a licensed real estate attorney before purchase. Rules change; verify current law. Always confirm with a qualified tax professional. Rules change; verify with a professional before you transact.
Frequently asked questions about Chiang Mai
Yes. Condo units only; within 49% building foreign quota
Buying or selling in Chiang Mai?
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