Under Thailand condominium law, units can usually be freehold providing the unit falls within the foreign quota.
Although leasing a condo is less desirable from a legal stand point than purchasing one, condos may be leased to foreigners for periods lasting up to 30 years with options to renew (for 30 year periods) under Thailand lease law.
However, leasing a condo in Thailand may be preferable for some foreigners especially if the building is already outside of the foreign quota or if the condo is located in certain projects such as a holiday area which only allows condo leases rather than sales of condo. Usually however, leasing a condo in Thailand occurs when an individual requires a property on a short term basis. Condo leases of 6-12 months duration in Thailand are common.
In Thailand, condo leases of longer than 3 years must be registered with the Land Department.
