Update – Thailand Foreign Housing Loan:
Currently ICBC Bank Thailand offers only foreign housing loan in HKD, available for Hong Kong citizens only.
Right now ICBC Bank Thailand is not able to accept cases if not working in Thailand.
As a foreigner non-resident in Thailand purchasing a condominium for own-use or investment purposes, I am able to get finance or a property loan when purchasing a property in Thailand? This question is often rising when thinking about buying a property in Thailand. The team at Keller Henson is here to help you answer this question.
Foreigners non-residents in Thailand are able to process a loan application for a purchase of freehold condominium in Thailand. Nevertheless the criteria are a bit specific. Keller Henson team will help you to analyze the foreign housing loan application conditions in Thailand. Do not hesitate to contact us in case you would like to get more details and assistance regarding any question you might have.
In this article we will describe the main criteria regarding finance for a condominium in Thailand as a foreigner non-resident. Then compare the finance options. We will end by an analyze in details for each loan option.
Keller Henson – Summary of Foreign Housing Loan in Thailand:
- 2 Banks in Thailand offer finance to foreign purchaser of condominiums: UOB Bank Thailand and ICBC Bank Thailand.
Below you can have a look of the main criteria regarding the finance for a condominium in Thailand as a foreigner non-resident:
- Age 21 – 65 years old.
- Minimum income of approx. 100,000 SGD per year.
- No fixed interest rate, variable interest rate.
- Freehold condominium with minimum value THB 3 Million.
- Financing areas: Bangkok and selected upcountry locations.
- Maximum 70% Loan to Value.
- Minimum Loan amount THB 2 Million.
- 30 years loan tenor maximum.
- 3 years loan tenor minimum.
- Preferentially stable income and good credit.
- Loan available in SGD, USD and HKD.
- Interest rate is moderate starting a bit higher than 7% (minimum interest is 3M Compound SORA + 3.90%).
- The eligibility can be sometimes limited according to the applicant’s residence country: Australia, Brunei, Canada, France, Hong Kong, Macau, India, Indonesia, Japan, Malaysia Myanmar, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam, UK and USA.
Can I get finance in Thailand for a Off Plan condominium? Can I apply for a loan in Thailand if my condominium is under-construction?
In Thailand, the loan application for off plan properties and under-construction condominiums can only be done few months before project’s completion date. Once the project has been registered as condominium and the title deed has been issued.
Foreign Housing Loan Comparison in Thailand. Update 2023
Foreigners non-residents in Thailand are able to process a loan application for a purchase of freehold condominium in Thailand. Nevertheless the criteria are a bit specific. Keller Henson did a brief comparison of the Foreign Housing Loan criteria in Thailand for you to easily decide which Bank suits your needs at best. Do not hesitate to contact us in case you would like to get more details and assistance to answer any question you might have.
| Update April 2023 | ICBC Bank Thailand | UOB Bank Thailand |
| Eligible Applicant: | Non-residents (HK Citizens only) | Non-residents (Limited per country) |
| Age: | 21-55 years old | 21-65 years old |
| Property Type: | Freehold condominium | Freehold condominium |
| Property Value: | Min. 2,500,000 THB | Min. 3,000,000 THB |
| Loan To Value: | Max. 70% | Max. 70% |
| Loan Amount: | Min. 1,500,000 THB | Min. 2,000,000 THB |
| Loan Tenure: | 3-15 years | 3-30 years |
| Interest Rate: | Min. 5.25% Max. 3M SIBOR + 6.00% | Min. USD Prime + 2.75% / 3M Compound SORA + 3.90% Max. USD Prime + 3.75% / 3M Compound SORA + 6.30% |
| Currency: | SGD / HKD | SGD / USD |
Here are below the details for a loan application with 2 International Banks offering Foreign Housing Loan in Thailand: UOB Bank Thailand and ICBC Bank Thailand.
UOB BANK – 2023 International Property Loans Thailand details (updated April 2023):
With the UOB Bank Thailand, the eligibility for a foreign housing loan is limited according to the applicant’s residence country:
- Australia, Brunei, Canada, France, Hong Kong, Macau, India, Indonesia, Japan, Malaysia Myanmar, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam, UK and USA.
At UOB Bank Thailand, the loan is available either in SGD or USD currency.
- With a loan in SGD currency, 3 different mortgage interest rate are offered. The mortgage interest rate will vary according to the minimum loan amount.
- With a loan in USD currency, 1 single type of mortgage interest rate is offered.
UOB BANK – 2023 International Property Loan Thailand details:
- Eligible Applicant: Non-resident (limited per country)
- Minimum income of approx. 100,000 SGD per year.
- Age: 21 – 65 years old
- Property Type: Freehold condominium
- Property Value: Min. 3,000,000 THB
- Loan to Value: Max. 70%
- Loan Amount: Min. 2,000,000 THB
- Loan Tenure: 3 – 30 years
- Interest Rate: Minimum. USD Prime + 2.75% / 3M Compound SORA + 3.90% — Maximum. USD Prime +3.75% / 3M Compound SORA + 6.30%
- Currency: SGD/USD
- Note: 3M Compound SORA is a floating rate = 3.60% as of April 14, 2023. USD Prime is currently at 8.00% p.a as of April 2023.
ICBC BANK – Foreigner Housing Loan Thailand details:
Update COVID-19 – ICBC Bank Thailand Foreign Housing Loan:
Right now ICBC Bank Thailand is not able to accept cases if not working in Thailand.
Currently ICBC Bank Thailand offers only foreign housing loan in HKD, available for Hong Kong citizens only.
ICBC BANK – International Property Loan Thailand details:
- Eligible Applicant: Non-resident (HK citizens only)
- Age: 21 – 55 years old
- Property Type: Freehold condominium
- Property Value: Min. 2,500,000 THB
- Loan to Value: Max. 70%
- Loan Amount: Min. 1,500,000 THB
- Loan Tenure: 3 – 15 years
- Interest Rate: Min. 5.25% — Max. 3M SIBOR+6.0%
- Currency: SGD/HKD
Check our blog post – Foreign Housing Loan Comparison in Thailand
