Thailand draws the hardest line in the region on land — and the most generous one on condos. Vietnam sits in the middle on both. The details decide which middle suits you.
Thailand: no land, generous condos, short leases
The Land Code (§86) prohibits foreign land ownership (narrow treaty/BOI exceptions aside). Condos: foreigners may own up to 49% of a building’s area — more generous than Vietnam’s 30%. Long leases cap at 30 years (renewable by agreement, never automatic).
Vietnam: leased land, tighter condos, longer terms
Foreign investors lease project land up to 50/70 years (Land Law Article 172) — longer than Thailand’s 30. Housing: 50 years extendable once (Housing Law Article 20(2)), but only 30% of units per building (Article 19) — tighter than Thailand’s 49%.
The investor’s takeaway
Choose Thailand for maximum condo quota and simplicity of the ban (nothing to negotiate on land); choose Vietnam for longer land-use terms and housing ownership with an extension path. Neither market gives foreigners land ownership — the question is which bundle of second-best rights fits your plan.
Frequently Asked Questions
Can foreigners own land in Thailand?
No — the Land Code §86 prohibits foreign land ownership, with only narrow exceptions. Long leases are capped at 30 years.
What is Thailand’s condo quota?
Up to 49% of a building’s area under the Condominium Act — more generous than Vietnam’s 30% unit quota.
What does Vietnam offer that Thailand doesn’t?
Longer land-use terms (up to 50/70 years vs 30) and a 50-year housing term with one extension — but a tighter 30% condo quota.
This article has been quality-reviewed by the FLAW AI Legal Council
