In Thailand, most properties can not be held freehold by foreign nationals. The exception are condominiums that fall within the "foreign freehold quota", which is defined as 49% of the sellable unit space in a registered condominium development.
Not all residential buildings can be registered as a condominium. Certain criteria need to be met, such as zoning, access roads, facilities, the ratio of green to green area among many others are required to pass the Environmental Impact Assessment (EIA).
Condominiums have individual ownership titles for each unit and can be held freehold, while apartments will have a single title for the land plot and each unit can only be held through leasehold.
Due to the straightforward ownership, foreign freehold condos are usually sold at a slight premium over leasehold condos or those in the remaining 51% "Thai quota", but generally appreciate better due to the higher demand over leasehold units.
For more information on foreign freehold properties for sale in Phuket, please Contact Us.