Property from developers in Thailand

Property from developers in Thailand - known as the new-build market - is today one of the most attractive segments for foreign investors. A brand-new finish standard, clear legal titles, instalment payment schedules tied to construction progress and guaranteed-rental programmes make buying from a developer in Phuket or another resort often less risky than buying on the secondary market - provided you know how to vet the developer and what to look out for in the contract.

What the new-build market in Thailand is - buying from a developer

The new-build market means buying a property directly from a developer - as the first person entered on the title deed. In practice in Phuket this most often means a condominium (an apartment in a multi-unit building) or a villa purchased in a new project, before the building is even completed.

Unlike the secondary market - where you buy from a private seller who already acquired the property earlier - buying from a developer involves standardised procedures: a reservation agreement, a sale-and-purchase agreement (SPA) and transfer of title after construction is finished. The developer is obliged to disclose the building permits, the land title (Chanote or Nor Sor 3 Gor) and the breakdown of freehold and leasehold floor area.

The broader legal context - including purchases from private individuals - is covered in our guide: How to buy property in Thailand - step by step.

Advantages of property from developers in Phuket

The new-build market in Thailand - and in Phuket in particular - offers several significant advantages over a second-hand purchase:

• A brand-new finish standard. You buy a furnished unit with the developer's warranty on the structural elements and installations. No usage history means no hidden technical defects.
• Interest-free instalment plan. Most developers in Phuket offer payment spread across construction stages - usually with no additional interest. This lets you commit capital gradually rather than all at once.
• A lower price for early entry. Buying at the pre-launch or early-sales (off-plan) stage gives prices 10-25% lower than those after the building is completed. That's real appreciation potential before the project is even finished.
• Construction warranties. The developer is liable for structural defects for the period set out in the contract - standardly 1-2 years on the finish, longer on structural elements.
• Guaranteed-rental programmes. Many developers offer a guaranteed rental return for 3-5 years after handover (typically 5-7% per year on the purchase price). This is a form of income protection in the first years of the investment.

Off-plan in Thailand - how it works and how to buy safely

Off-plan is buying a property that doesn't yet physically exist - the developer sells units on the basis of the architectural design, renders and a model. In Phuket this is the dominant form of sale in new developments: buildings come to market as early as the building-permit stage or the early foundation works.

The mechanism is simple: you reserve a specific unit (floor, aspect, floor area), pay a reservation deposit (usually 50,000-100,000 THB), then sign the sale-and-purchase agreement (SPA) and follow a payment schedule parallel to construction. Transfer of title takes place after the building is handed over and the full amount is settled.

Key rules for buying off-plan safely in Thailand:

• Escrow account. Funds paid by buyers before the building is handed over should go into a separate escrow account, not directly to the developer. Ask about this before signing the contract.
• Checking the permits. The developer should hold a current building permit (an EIA - Environmental Impact Assessment for large projects, and a Construction Permit). The absence of these documents is a warning sign.
• Land title. The land under the project should have a Chanote title (Nor Sor 4 Jor) - the strongest legal title in Thailand. We check this before recommending a project to clients.
• Developer track record. What counts is the number of completed projects, delivery on time and build quality. New players without a portfolio carry higher risk.

The mistakes worth avoiding when buying off-plan are described in detail in: The most common mistakes when buying property in Thailand.

How we vet developers - Twins Real Estate due diligence

We don't bring every developer into our portfolio. Before we recommend a project to clients, we run an internal vetting process covering several areas:

• History of completed projects. We check how many projects the developer has already delivered, whether they met deadlines and whether the quality matches the promises in the sales material.
• Legal title to the land. We verify the entry at the Thai Land Department - the type of title, the absence of mortgage encumbrances and the plot's consistency with the developer's declarations.
• Building and environmental permits. Larger projects require a positive EIA opinion. The absence of this document can result in the authorities halting construction.
• Financial standing. We analyse whether the developer has the financial backing to deliver - their own capital, credit lines or pre-sales at a level sufficient to start construction.
• SPA contract terms. We read the sale contract for clauses protecting the buyer - deadlines, penalty clauses for the developer for delay, refund conditions.

As a result, the client receives from us only listings we ourselves consider trustworthy. A full description of the purchase process - from reservation to handover - is in the guide: Property in Thailand - a buyer's guide.

Payment schedule when buying from a developer

A typical payment schedule when buying property from a developer in Thailand consists of several stages tied to construction milestones:

• Reservation deposit: 50,000 - 100,000 THB (sometimes higher for premium properties) - secures the unit and locks in the price.
• First instalment (signing the SPA): usually 25-30% of the contract price, payable within 14-30 days of reservation.
• Construction instalments: a further 30-50% spread over 3-5 stages tied to construction progress (completion of foundations, structure, finishing of floors, etc.).
• Final payment: the remaining 20-30% on transfer of title at the Land Office.

This structure means that for most of the construction period you have just 30-50% of the total amount committed, paying the rest only once the building is finished or almost finished. That's a significant difference from the European market, where developer contracts often require paying more at earlier stages.

An important formal point: funds used to buy freehold property by a foreigner must be transferred from abroad in a foreign currency - the Thai bank will then issue the FET document (Foreign Exchange Transaction), essential for the title transfer and the later repatriation of funds.

Listings from vetted developers in Phuket

In our portfolio you'll find current developments in Phuket - selected after passing the vetting process described above. We work with developers who have years of experience on the Thai market, completed projects and transparent contract terms.

The listings available in our portfolio include condominiums and villas in the most popular locations on Phuket's west and south coast - from entry-level apartments to exclusive villas with sea views. Prices start at around 3.5 million THB; instalment schedules with no additional interest.

Browse the available property listings in Phuket or get in touch - we'll match a project to your budget and goals (rental, personal use, capital appreciation) free of charge. Our income comes from the developer - for you, 0% commission.

This material is informational and does not constitute legal or investment advice; the details of contracts, payment schedules and unit availability depend on the specific project and may change. This article does not constitute legal or investment advice. Last updated: 6 June 2026.