Thai authorities are working through tens of thousands of companies suspected of holding land for foreign buyers. Foreigners have been acquiring a registered interest in Thai land this way, lawfully and in the open, for more than four decades. Thailand Property FAQ Can foreigners buy property in Thailand? Foreigners can own condominium units freehold, as long as foreign buyers hold no more than 49% of the building's saleable area. The quota applies only to condos — not houses, land or leaseholds — and popular buildings in Bangkok, Phuket and Pattaya can hit the cap.