Phuket property for first-time international buyers.
Your first Phuket property purchase. Mario Costa walks first-time international buyers through every step from initial inquiry to handover, with the numbers, the paperwork, and the diligence trail in plain English.
The full process, end to end
1. Qualification call (15-30 min). Understand goals, budget, timeline. 2. Short-list of 2 to 4 specific properties matching the brief. 3. Video viewings or in-person visits if available. 4. Offer and negotiation. 5. Booking deposit (THB 100,000 to 200,000 on apartments, around 2 percent on villas), usually non-refundable. 6. SPA signing around 30 days later, your legally binding contract. 7. Funds remitted from abroad in foreign currency; the receiving Thai bank issues the FET (Foreign Exchange Transaction Form), which the Land Office needs to register foreign freehold ownership. 8. Land Office transfer day at completion, title deed (chanot) registered. 9. Handover (for off-plan: 18 to 48 months later). End to end on a ready property: 30 to 90 days from first call to keys.
Total closing costs to expect
Costs depend on ownership type. Leasehold: lease registration fee of around 1.1 percent of the total lease value (1 percent registration plus 0.1 percent stamp duty), customarily split 50/50, around 0.55 percent on the buyer's side. Freehold: around 6.3 percent all-in (2 percent transfer fee, 3.3 percent specific business tax, around 1 percent withholding tax), commonly split with the developer on new units, around 3.15 percent on the buyer's side. Land Office admin: THB 4,000 apartment / THB 2,000 villa. Real estate commission: 2 percent (typically buyer side) plus 5 percent VAT on the commission. Total typical closing on a new freehold unit: around 5.5 to 6.5 percent of purchase price all-in.
Remote purchasing without flying in
Most first-time European buyers close their first deal entirely remote. Mario's process: video walkthroughs, drone exterior shots, neighborhood video tours, plus a POA (Power of Attorney) that lets a Phuket-based legal rep sign the SPA and complete the Land Office transfer on the buyer's behalf. Funds are still remitted from abroad in foreign currency so the Thai bank can issue the FET the Land Office requires. Mario provides the POA template his Phuket notary accepts. Total remote-purchase cost adds THB 2,000 to THB 4,000 in legal fees over and above standard closing.
First-time-buyer red flags Mario watches for
Off-plan from non-Tier 1 developers without verified escrow. Properties priced 10 to 15 percent below comparable market without a clear reason (often distressed sales with hidden community or service charge arrears). Agents who avoid a written contract or the proper Land Office process. Any pressure to sign within 24 hours. Mario walks every first-time buyer through his standard checklist before they commit.
Want the team's read on your specific brief?
Every conversation starts with a 30-minute call to understand goals, budget, and timeline. No pitch, no pressure.