Your guide to buying an apartment in Thailand as a Canadian

Thailand's tropical landscapes, vibrant culture, and affordable property options have made it a popular choice for Canadian buyers. From a retirement haven, condo, or beachfront escape in Pattaya, owning an apartment in Thailand is achievable! Read this guide to learn how Canadians can purchase apartments, navigate the legal and financial steps, and use tools like Wise to transfer funds safely, quickly, and cost-effectively.

Can Canadians buy apartments in Thailand?

Canadians can legally buy apartments across Thailand with specific conditions. A key requirement is that foreign ownership in the condominium building must not exceed 49% of the total units, meaning you can only buy a unit if the foreign quota has not yet been filled.

The money for the purchase must come from an overseas source, transferred into a Thai bank account under the buyer's name, before being converted into Thai Baht inside of Thailand. Mortgages are generally not available for non-Thai buyers, so the full amount typically must be paid up front.¹

Canadians must typically complete a Foreign Exchange Transaction (FET) form when transferring large sums into Thailand, as required by Thai law. This ensures the transaction is properly documented for property registration.¹

Understanding foreign ownership rules for Thai apartments

Thailand's property laws restrict foreign ownership in condominium buildings.¹

The 49% foreign ownership limit explained

Thailand's property laws restrict foreign ownership in condominium buildings to 49% of the total floor area. This means that, in any given building, Thai nationals must collectively own at least 51% of the units.

For Canadian buyers, this rule simply means acting early in developments where the foreign quota hasn't been filled. Once you purchase within that 49% allowance, your ownership is registered with the Land Department, giving you full freehold rights over your unit—just as a Thai citizen would have.

Condominium ownership vs. leasehold

In the case that the 49% quota is already full, or if you're interested in other types of property, like villas or townhouses, you can still acquire rights through a leasehold agreement. Foreigners are allowed to lease land or property for up to 30 years, often renewable in additional 30-year terms.¹

While leasehold doesn't grant full ownership, it offers long-term stability and legal recognition, making it a practical choice for Canadians looking for vacation homes or investment properties.

Finding the right apartment in Thailand

Popular locations for Canadian expats in Thailand

Thailand is a wildly diverse country that offers a huge range of lifestyles. Whatever one is seeking, from the urban energy of Bangkok to the serene beaches of Phuket, this country offers it. Here are three of the most popular spots for Canadian buyers:

Bangkok apartments

Bangkok, Thailand's capital and business hub, appeals to Canadians seeking investment opportunities or modern city living. Neighbourhoods that stand out are Sukhumvit, Sathorn, and Silom as hotspots for high-rise condos featuring excellent facilities and high rental demand.

Pattaya apartments

If coastal living is your thing, Pattaya offers an excellent balance of relaxation and city conveniences. It has a growing community of Canadian retirees and digital nomads. Condos near Jomtien Beach or Pratumnak Hill often provide ocean views, resort amenities, and strong rental yields thanks to the area's year-round tourism industry.

Phuket apartments

Phuket is amongst Thailand's most beloved islands for luxury and lifestyle. Canadians love its dreamy sandy beaches, impressive international schools, and established expat community. While prices here are higher, especially in areas like Patong, Kata, or Bang Tao, the long-term value and strong vacation rental market make Phuket a solid investment.

Financial steps: Transferring funds for your Thai apartment

Thai law requires that funds for property purchases come from overseas accounts and be converted into Thai Baht through a domestic bank. Even if funds are already in a Thai account, banks may require a transfer from abroad via telegraphic transfer (T/T), which can involve fees and delays. International transfers carry risks, including potential errors, fraud, and extra bank charges.²

Mortgages for foreigners are limited. Some Thai banks refuse non-residents, while those that do impose strict conditions, such as requiring a Thai work permit.²

Transferring Money to Thailand

To transfer funds:

1. Open a Thai bank account.
2. Send the purchase amount from your overseas account.
3. Specify the transfer purpose (e.g., property purchase).
4. The bank converts the funds to Thai Baht and issues an FET.²

Alternatively, some buyers send funds directly to a seller's or developer's Thai account, though not all developers allow this.

Understanding Thai Baht (THB) and Canadian Dollar (CAD) exchange rates

Thai Baht and Canadian Dollar exchange rates can significantly impact the total cost of your purchase. Even a small rate change can mean thousands of dollars saved or lost. Wise is a trusted method when transferring money, offering a real mid-market exchange rate with zero hidden markups. Wise offers low, transparent fees and the ability to send large transfers quickly and securely, making it ideal for moving significant sums like property payments.

With Wise, you can hold and convert CAD to THB at the mid market rate, so more of your money goes toward your new apartment rather than towards fees.

Legalities and due diligence when buying a Thai apartment

Hiring a Thai property lawyer for Canadians

Even though condo purchases are relatively straightforward, hiring a qualified Thai property lawyer is essential to:

• Conduct due diligence on the developer or seller.
• Review the title deed and ensure there are no encumbrances.
• Draft or review the sales and purchase agreement.
• Oversee the registration at the Land Department.³

Essential documents for buying property in Thailand

To complete your purchase, you'll need the following key documents:

• A passport and a valid visa.
• Sale and Purchase Agreement (SPA).
• Proof of funds transfer (FET form or bank letter).
• Title deed (Chanote) for registration.
• Developer's permit and building registration (for new properties).

Having these in order ensures your ownership is properly recorded and legally protected.

Investment potential: Apartments in Thailand for Canadians

Rental yields and property management

Thailand's rental market is attractive for Canadian investors. In popular cities and resort areas, gross rental yields can be impressive, depending on location and property type.

If you live away, local property management companies can be hired to manage tenant sourcing, maintenance, and rent collection, usually charging a percentage of the monthly rent or earnings. Short-term rental platforms (like Airbnb) can also generate strong returns, though local regulations vary by area.

Long-term value and market trends

Thailand's property market has shown resilience and steady appreciation over time, and continues to experience long-term demand.

For Canadians, this means a stable market with growth potential, particularly for mid-range and luxury condos in prime areas. Additionally, owning property in Thailand provides a hedge against currency fluctuations and diversification outside the Canadian real estate market.

Managing your finances in Thailand post-purchase

Once you've purchased your apartment, you may still need to send funds regularly towards maintenance fees, renovations, or property management costs. For all ongoing international payments to Thailand, Wise is an excellent choice. Wise allows users to send CAD to THB directly into Thai bank accounts at the real exchange rate, saving on traditional bank charges and delays.

Sources verified on 30 December 2025