Glossary, tax and fees

Appraised value in Thai property

ราคาประเมินทุนทรัพย์

The appraised value is the official value that the Treasury Department assigns to land, buildings and condominium units as the base for government fees and taxes. It is usually lower than the market price.

The appraised value drives most of the costs at transfer. The 2% transfer fee and an individual seller's withholding tax are calculated on it. Specific business tax and stamp duty are charged on whichever is higher, the appraised value or the declared sale price. The annual land and building tax uses it too.

Values are reviewed on a four-year cycle. The current round covers 2023 to 2026. A new round for 2027 to 2030 is due to take effect on 1 January 2027, and the Treasury Department has signalled increases in many areas. A transfer registered after that date may therefore cost more than an estimate made today.

Your lawyer or the land office can confirm the figure for a specific property. Condominium values are set per square metre by building and floor.

Do not agree to declare a price below the real one at the land office. It is unlawful, and it leaves you with a lower documented purchase price when you sell and repatriate the proceeds. See property taxes and buying costs and the purchase cost calculator.

General guidance, not legal or tax advice. Take independent legal advice before you commit to a purchase.

Terms related to appraised value

Transfer fee: The transfer fee is the Department of Lands' charge for registering a change of ownership: 2% of the property's official appraised value, paid at the land office on the day of transfer.
Withholding tax: Withholding tax is income tax deducted from a payment before it reaches the person who earned it. On a Thai property sale the land office collects it from the seller at transfer: 1% for a company and a sliding-scale amount for an individual. Rent paid from Thailand to a non-resident owner carries 15% withholding.
Land and building tax: Land and building tax is Thailand's annual property tax, charged by the local authority on the official appraised value under the Land and Building Tax Act B.E. 2562 (2019). For a home that is not the owner's main residence the rate starts at 0.02%.
Land office: The land office is the local branch of the Department of Lands where title deeds are held and every sale, lease, mortgage and other right over property is registered. A transfer of Thai property takes legal effect only when it is registered there.