The condominium is the ideal investment for any foreigner in Thailand. It’s the only the form of real estate that expats and foreign retirees can place their money into, as according to the laws of Thailand. The 1979 Condominium Act of Thailand lays out the rules for foreign ownership of condominium units in the country.
Just in case that you do not remember, click here to refresh your knowledge on what the law says about foreign condominium ownership.
We have mentioned several times that it is totally legal for a foreigner to acquire a condominium unit in Thailand. To recap, Thai law makes a provision for foreign ownership of condos provided that 60% of the units in the project are reserved for Thai locals. If the remaining 40% allowance has been bought up by the foreigners, what does a foreign national looking to own a condominium unit do?