When purchasing a condo, both new and used, there are five hidden expenses you need to agree to with a seller first before signing a contract. Otherwise, you may end up paying over 100,000 baht for transfer fees, stamp duty, and business tax.
Transfer Fee
Transfer fee is calculated at 2% of the estimated condo price from Department of Lands. The fee should be shared 50/50 by both seller and buyer.
Stamp Duty
There is a 0.5% stamp duty tax when buying a condo. It should be paid by seller only.
Business Tax
Similar to Stamp Duty, this 3.3% of the estimated condo price should be paid by seller as well.
Loan Related Fee
If you loan from a bank, there is additional 1% mortgage fee calculated from the amount of loan. Also, the bank will charge you additional 2,000baht to 3,000 baht for an appraisal, and a few thousands baht or more based on your condo price for insurance.
The only way to avoid these fees is to buy a condo with cash alone.
Contract Fee
You need to pay a contract fee to a seller for making a contract. Price can be a few thousand to over ten thousand based on the condo price.
Administrative Fee
Administrative fees need to be paid every month. It is calculated by the size of your room. The average price in Bangkok is 40 baht to 60 baht per square meter for a normal condo. If it’s a luxurious condo, an administrative fee can even be more than 100 baht per square meter.
Water and Electric
Note that water and electric fees between each condo is different. Some uses a standard rate from MWA and MEA, but some condo you need to pay a fixed rate per unit which can be two times higher than the standard rate.
In Summary
| Fee | Amount | Responsible Person |
| Transfer Fee | 2% of the condo price | 50/50 between buyer and seller |
| Stamp Duty | 0.5% of the condo price | Seller |
| Business Tax | 3.3% of the condo price | Seller |
| Loan Fee | 1% of the mortgage fee | Buyer |
| Contract Fee | 2,000 – 10,000+ baht | Buyer |
| Administrative Fee | 40 – 60 baht per sqm. | Buyer |
| Water and Electric | Depend on each condos | Buyer |
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