Plenty of guides tell you how to buy a condo in Phuket as a foreigner. Far fewer explain what happens when you want to sell it — and yet this is where many expats get caught out. The selling process involves taxes that surprise first-timers, documentation requirements that most buyers' agents won't mention, and a repatriation process that requires you to have kept a document from when you first purchased.
I've been through this process and helped others navigate it. Here's what actually happens when a foreign condo owner sells in Phuket.
Selling Your Phuket Condo — Key Facts
- Foreigners can sell foreign-quota condos freely to buyers of any nationality
- Transfer fees + taxes: typically 3–6% of sale price total
- FET document critical: you need it to repatriate your proceeds overseas
- Specific Business Tax (SBT) 3.3%: applies if held under 5 years
- Stamp duty 0.5%: replaces SBT if held over 5 years
- Withholding tax: calculated on appraised value, not necessarily sale price
- Agent commission: typically 3–5% paid by seller
- Timeline: listing to completion typically 2–6 months
- Recommended: hire an independent property lawyer (฿15,000–30,000)
Can a Foreigner Sell a Condo in Phuket?
Yes, absolutely. If you purchased a foreign-quota condominium unit under the Condominium Act — meaning one of the 49% of units in the building that can be foreign-owned — you have full ownership rights and can sell it at any time, to anyone.
The key distinction: your ownership must be registered on the Chanote title deed in your name. If you hold via a Thai nominee company (which is a legally grey structure), the sale process is more complicated — and you should take independent legal advice before proceeding.
For standard foreign-quota condos with Chanote title, the process is straightforward. It just comes with taxes, fees, and documentation requirements that are worth understanding before you agree on a sale price.
The Taxes and Fees — What to Expect
This is the bit that catches most first-time sellers off guard. The costs at the Land Department are real and need to be factored into your sale price negotiation.
| Cost Item | Rate | Based On | Who Pays (Typically) | Notes |
|---|---|---|---|---|
| Transfer Fee | 2% | Appraised value (not necessarily sale price) | Split 50/50 (negotiable) | Always applies; appraised value often lower than market |
| Specific Business Tax (SBT) | 3.3% | Higher of appraised or sale price | Seller | Applies if held < 5 years OR not used as primary residence ≥ 1 year |
| Stamp Duty | 0.5% | Higher of appraised or sale price | Seller | Replaces SBT if held ≥ 5 years. Cannot pay both SBT and Stamp Duty. |
| Withholding Tax (WHT) | 1% (companies) or 1–37% (individuals) | Appraised value × years held (graduated) | Seller | Individual WHT calculated on appraised value with a deduction for holding period |
| Agent Commission | 3–5% | Sale price | Seller | Negotiable; some agents accept 3% for higher-priced units |
Real-World Cost Example
Here's a worked example for a 2-bedroom condo in Bang Tao selling at ฿6,500,000 (market value), with Land Department appraised value of ฿4,200,000, held for 3 years:
Worked Example: Selling a ฿6,500,000 Condo (Held 3 Years)
💡 Tip: Negotiate Who Pays What
In a strong seller's market, it's common to ask buyers to pay the full Transfer Fee (2%) as part of negotiation. Some sellers also negotiate for buyers to cover SBT. In a slower market, you may end up splitting everything. Always clarify which party pays which costs in the sale contract — don't assume. Your lawyer should confirm the standard practice for the current market conditions.
The FET Document — The Most Important Thing You Own
If you originally purchased your condo as a foreigner, you would have brought money into Thailand from abroad and obtained a Foreign Exchange Transaction (FET) document from your Thai bank (or TorTor 3 form). This document proves you brought foreign currency into the country to purchase the property.
When you sell and want to repatriate the proceeds, the bank requires you to show the original FET to confirm the funds originated overseas. Without it, transferring your sale proceeds out of Thailand is significantly more difficult.
⚠️ Lost Your FET? Do This Now
If you can't find your original FET document, contact the bank branch where you made the original transfer immediately. Banks keep records, and you can request a replacement letter confirming the original foreign currency transfer. This process takes time, so don't wait until you're mid-sale. Also check your filing system, your original lawyer's file, and the Land Department records — a copy is sometimes held there.
The Step-by-Step Selling Process
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Prepare Your Documents
Gather: Chanote title deed, your passport, original FET document from purchase, Tabien Baan (house registration book if applicable), mortgage discharge letter if relevant, and condominium juristic person clearance letter (confirming no outstanding common area fees). Missing any of these will delay completion.
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Appoint an Agent and Set a Price
Get comparable sales data before setting your price. Phuket property agents at established firms (Knight Frank Phuket, Coldwell Banker, local boutique agencies) can provide CMA reports. Sign a sole agency agreement (typically 90–180 days) or go open listing. Commission is negotiable — 3% for properties over ฿10M is normal.
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Accept an Offer and Sign a Reservation Agreement
When a buyer is found, they typically pay a holding deposit (฿50,000–200,000) and you both sign a Reservation Agreement. This locks in the price for 7–14 days while the Sale & Purchase Agreement (SPA) is drafted. The deposit becomes your financial protection if they back out.
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Review and Sign the Sale & Purchase Agreement
Your lawyer reviews the SPA. This document sets the completion date (typically 30–60 days hence), confirms the price and deposit structure, specifies who pays which taxes, and includes penalties for either party backing out. Never sign without legal review.
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Request the Juristic Clearance Letter
Contact your condo's juristic office (management office) and request a letter confirming no outstanding common area fees, sinking fund dues, or water/electricity charges. This takes 5–14 days. Many sellers forget this and face a last-minute scramble at the Land Department.
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Attend the Land Department Transfer
Both buyer and seller (or their authorised representatives via Power of Attorney) attend Phuket's Land Department. The transfer itself takes a few hours. Transfer fees and taxes are paid there. Bring original Chanote, your passport, FET document, juristic clearance letter, and all signed documents from your lawyer. The Land Department will issue a new Chanote with the buyer's name.
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Receive Payment and Get a New FET
Payment is typically made via bank transfer or certified cheque at completion. If the buyer is a foreigner bringing in foreign currency, they'll provide their own FET. Your bank will then issue you a new FET (or TorTor 3) for the sale proceeds, which you use to transfer the money overseas.
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Repatriate Your Funds
With the new FET document, your Thai bank (KBank Yaowarat branch for foreigners, Bangkok Bank Phang Nga Road) can process an international wire transfer. Use Wise for better exchange rates on the international portion if applicable. Keep records of the FET for any future tax purposes in your home country.
Common Selling Mistakes
These are the errors I see expat sellers make most often:
- Pricing on emotion, not comparables. Phuket's condo market is real — check what similar units in your building actually sold for, not what they're listed at. Listings are often aspirational. Actual sales tell the true story.
- Forgetting the juristic clearance letter. Outstanding common area fees mean the Land Department won't process the transfer. Settle everything before you try to complete.
- Not budgeting for selling costs. If you factor in agent commission + SBT + transfer fee + WHT, you're looking at 8–12% of sale price. Build this into your net proceeds calculation from the start.
- Missing the FET document. Addressed above — but this is the single most common paperwork disaster for foreign sellers. Keep it filed safely from day one.
- Not getting a Power of Attorney. If you're not in Phuket for the transfer, you need a properly notarised PoA for your lawyer to represent you at the Land Department. This needs to be arranged well in advance.
- Using the buyer's lawyer. Always have independent legal representation. The buyer's lawyer protects the buyer's interests. You need someone protecting yours.
Phuket Condo Market Conditions 2026
The Phuket condo market in 2026 is characterised by strong demand from Chinese and European buyers — particularly for sea-view units in Bang Tao, Surin, and Kata. Rawai and Nai Harn have seen significant price appreciation driven by the remote worker community establishing longer-term bases.
Phuket Town condos remain the most affordable and have seen steady capital appreciation as urban expat demand grows. Patong units are more liquid (easier to sell quickly) but yield-focused rather than capital-appreciation driven.
If you're selling in 2026, the market is genuinely active. Well-priced units in Bang Tao, Rawai, and Surin are moving in 60–90 days. Overpriced units sit unsold for 12+ months. The gap between aspirational listing prices and real transaction prices remains significant in some areas.
💼 Transfer Money Overseas with Wise
Once you have your FET document and sale proceeds in your Thai bank account, use Wise for the international transfer to save on exchange rates. Wire transfers via Thai banks cost 0.5–1% in fees plus poor FX rates. Wise typically saves 0.5–2% on large transfers — on a ฿6M proceed, that's ฿30,000–120,000 in savings. Compare Wise rates →
Looking for a Trusted Phuket Property Agent?
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Find a Trusted Agent →Tax Implications in Your Home Country
Selling a Thai property may have tax consequences in your country of residence. Key considerations:
- Capital Gains Tax (UK): CGT applies on gains from overseas property. You can offset the Thai withholding tax paid against your UK CGT liability (with restrictions). Keep all purchase and sale documents.
- Capital Gains Tax (Australia): CGT applies. Foreign residential property doesn't qualify for the 50% CGT discount if you're not a resident of the property. Get ATO guidance.
- USA: US citizens are taxed on worldwide income. Report the sale on your US tax return. You may be able to offset Thai taxes paid.
- EU residents: Varies by country. Many EU countries have DTAs (Double Taxation Agreements) with Thailand that govern property gains. Check with a tax adviser.
The 2024 Thai rule change (Paw 161/2566) means that income remitted to Thailand in the same tax year you earned it is potentially subject to Thai income tax for Thai tax residents. If you're a Thai tax resident selling a property and remitting the proceeds, take specialist tax advice before completing.
Frequently Asked Questions
Related Guides
- Buying a Condo in Phuket as a Foreigner
- Phuket Property Buying Guide (Complete)
- How to Find a Good Property Agent in Phuket
- Using Wise to Transfer Money to/from Thailand
- Thai Income Tax for Expats 2026
- Phuket Housing Hub
