Thailand is one of the prime destinations when foreigners look for investment and lifestyle property in Asia. Even if the country started to develop decades back, and is far ahead of countries like Vietnam, you’ll see a limited amount of loan options available.
Still, there are a handful of international banks and other loan providers that are worth contacting.
It’s important that you have a fundamental understanding of the application process and what documents that banks require. In this guide, I explain the basics you need to know when applying for a property loan in Thailand.
Process when applying for a property loan in Thailand
It was virtually impossible for foreigners to obtain property loans and mortgages in Thailand in the past. Things have become a bit easier since 2005, when Bangkok Bank and UOB Singapore started offering loans, but still, I wouldn’t say that there are many options available.
The same as it goes in Vietnam, things will become remarkably easier if you’re married to a Thai spouse. You should preferably also have lived in Thailand for at least one year (working) or be a permanent resident.