How you pay for Phuket property is a question not just of convenience but of correct paperwork. The payment method affects title registration, entry flexibility and final costs. Let’s cover the main options: developer installments (including the post-handover programmes found on the market), bank transfer and FET, currency nuances, payment via a company, the role of cryptocurrency and settlement on the resale market — with a focus on what’s more convenient and safer for an investor.
Contents
- Payment logic in a deal
- Developer installments
- Post-handover installments
- Bank transfer and FET
- Currency and exchange rate: what to count in
- Leasehold: a more flexible entry
- Payment via a company
- Cryptocurrency: how it works
- Mortgages and borrowed money
- Paying on the resale market
- Comparing methods
- Pitfalls
- Case: a convenient payment scheme
1. Payment logic in a deal
Payment ties to deal stages: reservation → contract → payments → registration. Key principles:
- any payment goes against signed documents and to verified account details;
- for a new-build, payments are spread across construction stages;
- the payment method affects registration (especially FET for freehold).
The reservation (e.g. 200,000 THB on Layan Verde) fixes the price and is usually credited toward the first payment. The reservation fee is the “lightest” payment in the deal, but it has rules too: it is paid under a reservation agreement with spelled-out refund terms, not on a manager’s “word of honour”. We covered this stage in detail here: deposit and reservation →.
A separate safety tool is escrow: an account from which the money goes to the seller only once the agreed conditions are met. On Phuket’s primary market escrow is not yet universal practice, but for a number of projects and on resale deals it can and should be built into the scheme — especially for large one-off payments.
🔗 Basics: Buying process →
2. Developer installments
A new-build’s key convenience is staged installments:
- payments spread over the construction period (e.g. a 35%/50% scheme);
- often interest-free during the build;
- lowers the entry barrier: no full sum needed upfront.
For an investor it’s a way to enter a project with less starting capital and spread the load over time, then lock in price growth by completion.
How a typical schedule is built: the reservation secures the unit, then the first payment on signing the contract, then several tranches tied either to the calendar or to construction milestones (foundation, frame, finishing), and a final payment before handover. What to find out before signing:
- What the payments are tied to — dates or construction stages. Tying to stages is fairer: a construction delay doesn’t force you to pay ahead.
- What happens if the buyer misses a payment — penalty, late interest, the developer’s right to terminate the contract and retain part of what was paid.
- Symmetry of liability — what compensation is provided if the developer delays completion.
- Where the money goes — to which account, of which legal entity, and whether it matches the entity in the contract.
Installments are also a filter of developer quality: a clear schedule tied to stages with transparent account details usually comes together with a clear construction process. You can compare projects with installments across the market in the installment plans catalogue selection →, and the broader context of construction timelines in our breakdown of new-build stages →.
3. Post-handover installments
A separate class of programmes on the market is post-handover: part of the price is paid after the unit is handed over. The logic for the buyer: the unit is completed, can earn rental income, and the rent partly covers the remaining payments. That convenience almost always comes at a premium on the price — compare not the size of the first payment but the full cost of the unit under each scheme.
What to look at in such programmes:
- the final price versus the price at 100% payment by completion — the difference is the “cost of credit”;
- the moment of title registration: some programmes register title after full payment, others earlier with an encumbrance;
- what happens if post-handover payments are missed when the unit is already yours.
The full breakdown with market examples is in post-handover plans in Phuket →, current projects are in the post-handover selection →. Important: the availability and terms of such programmes change from project to project and over time — check the terms in force on the date of your deal.
4. Bank transfer and FET
The main payment method is bank transfer. For a freehold condo, correct inbound funds from abroad matter:
- FET (Foreign Exchange Transaction) confirms the currency came from abroad;
- it’s a condition for registering freehold to a foreigner within the quota;
- funds are usually brought into a Thai bank with the correct payment purpose.
FET errors complicate registration, so the transfer scheme is prepared in advance: the sender’s name must match the name of the future owner, the payment purpose must reference the specific unit, and with installments every tranche must arrive in foreign currency, because a set of confirmations covering the full unit price is assembled for registration. It’s cheapest to follow these rules from the very first payment: unwinding an incorrect transfer takes weeks, not days.
🔗 In detail: FET and inbound currency →
5. Currency and exchange rate: what to count in
Contract prices in Phuket are denominated in Thai baht. This has three practical consequences for a buyer whose capital is in another currency:
- Exchange-rate risk across the installment schedule. With a 2–3-year installment plan, the cost of each tranche in your currency will float with the rate. It works both ways: budget the deal with a buffer, not at the rate on signing day.
- Where to convert. For freehold, conversion must happen on the Thai side — the money enters the country in foreign currency (USD/EUR etc.) and is exchanged into baht at a Thai bank; “sending it straight in baht” from your own bank is a trap that kills the FET.
- Route fees. An international transfer loses money to correspondent-bank fees; the “OUR” option and a small buffer on the amount save you from top-up payments.
For the general price level and market dynamics, so you can understand the budget in baht, see our Phuket price overview →.
6. Leasehold: a more flexible entry
For leasehold the payment logic is more flexible:
- there are usually fewer FET requirements than for freehold;
- fewer formalities on the Thai side;
- a lower entry price and more schedule options.
This makes leasehold a convenient “smart entry”: simpler paperwork, more flexible payment, and while quota lasts, conversion to freehold is possible. Home-country reporting still stays with the buyer.
One nuance that is often missed: if you plan to convert leasehold to freehold later, keep to currency discipline from the very beginning — on conversion the Land Department will ask for proof of inbound foreign currency, and payments that went through in “domestic” baht cannot be replayed retroactively.
7. Payment via a company
Some buyers hold ownership via a Thai company (more often for villas/land). This affects payment too:
- settlements run from the company’s account;
- costs are added for setting up and maintaining the structure;
- correct legal support is required.
The scheme isn’t for everyone and is justified in specific cases. For condos, a freehold quota or leasehold is often simpler. Bear the regulatory backdrop in mind too: in 2026 the Thai authorities continue to tighten control over nominee structures — the company must carry on real activity and have transparent shareholders, otherwise it’s not a tool but a risk. Money goes into such a structure officially as well: a capital contribution or a documented founder’s loan, not “a transfer to the account of a director you know”.
8. Cryptocurrency: how it works
The crypto question comes up often. In practice:
- final settlement and registration follow the legal process (usually in fiat);
- crypto is sometimes used as a conversion step before the bank transfer;
- the scheme is agreed individually, with correct inbound funds and documents.
Crypto isn’t a way to “bypass” paperwork but a possible intermediate step. Final payment and registration still follow the rules.
The working configuration looks like this: crypto assets are converted into fiat through a licensed platform, then the money follows the standard banking route — for freehold, with inbound foreign currency and FET. The conversion documents are kept: they settle the source-of-funds question both for Thai compliance and for your home reporting. A full breakdown of scenarios, restrictions and typical mistakes is in a separate article: buying with cryptocurrency in Thailand →.
9. Mortgages and borrowed money
A short but important block: classic mortgages from Thai banks are practically unavailable to foreigners — the few programmes with strict requirements don’t set the tone on the market. Don’t plan a Phuket purchase “like at home, with leverage from a local bank”.
What actually works:
- developer installments — the main substitute for a mortgage on the primary market: interest-free, no bank underwriting, with an entry threshold from the first payment;
- financing in your home country — a loan secured on existing assets where you have a credit history; the money enters Thailand as an ordinary foreign-currency transfer;
- post-handover programmes — in effect installments after completion, built into the price.
A detailed breakdown of all financing options, including why bank mortgages are almost never issued to foreigners and what to use instead, is in mortgages and financing in Thailand →.
10. Paying on the resale market
Resale (resale) is paid for differently from a new-build — there is no staged construction schedule, but there is a day X — registration at the Land Department:
- Deposit under the contract — secures the deal for the property-check period.
- Checks — due diligence on the title, encumbrances and debts to the project.
- Main settlement on registration day — the classic: a cashier’s cheque handed to the seller at the Land Department counter at the same moment the title is transferred; the alternative is a confirmed transfer or escrow.
- Taxes and fees on transfer — split between the parties by agreement, a separate budget line.
For a foreign buyer the inbound-currency requirement on a freehold condo doesn’t go away: FET is needed on the resale market too. Plus the seller has their own counter-question — repatriating the proceeds — so both sides have an interest in a clean banking scheme. A comparison of primary and resale as strategies is in resale vs new-build →.
11. Comparing methods
| Method | Pros | What to watch |
|---|---|---|
| Developer installments | Low entry, often 0% | New-build only, staged schedule |
| Post-handover plan | Payments after completion, rent helps pay | Price premium, moment of title registration |
| Bank transfer + FET | Standard for freehold | Correct inbound funds for registration |
| Leasehold payment | More flexible, fewer formalities | Lease term, conversion terms |
| Via a company | For villas/land | Structure costs and support |
| Crypto (as a step) | Conversion flexibility | Final is by law, agree the scheme |
| Cheque/escrow on resale | Settlement in sync with title transfer | Property checks before the main payment |
12. Pitfalls
- Paying before the contract. Any payment only against signed documents and to verified account details.
- Ignoring FET on freehold. Incorrect inbound funds complicate registration to a foreigner.
- Treating crypto as a “bypass”. Final payment and registration follow the law; crypto is only a possible step.
- Underestimating structure costs. Paying via a company adds setup and maintenance expenses.
- Forgetting home reporting. Proof of source of funds in your own country is on the buyer.
- Comparing schemes by the first payment. Post-handover and “long” installment plans are compared by the full unit price, not the opening payment.
- Not budgeting an exchange-rate buffer. A multi-year installment plan in baht with income in another currency needs a buffer in the budget.
- Account details from correspondence. Pay only to the account in the contract; swapped bank details in email are a classic fraud scheme.
13. Case: a convenient payment scheme
Consider a typical scenario. An investor wanted minimum starting capital and simple paperwork. They chose a new-build with staged installments: the reservation fixed the price, then payments followed the construction schedule interest-free. They took leasehold as the ownership form — fewer formalities and more flexible payment, while rental income of ~8–10% net via the pool started after completion. No full sum upfront was needed, and the transfer scheme was agreed in advance.
Takeaway: “how to pay” is part of the entry strategy. Installments lower the barrier, FET enables freehold registration, and leasehold adds flexibility. Choose the method to fit your goal, budget and ownership form.
I’ll match a convenient, correct payment scheme to your budget and ownership form, with deal support.
Payment scheme and installments
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