How developer payment plans work in Thailand in 2026
How a developer payment plan works in Thailand: booking, first instalment, real Pattaya schedules, transfers from abroad, risks and a 4.42M ฿ example.
A developer payment plan in Thailand means paying for an off-plan condo in parts while the building goes up: a booking deposit, a first instalment when the contract is signed, scheduled payments during construction and the balance at key handover. Developers usually charge no interest during construction: the buyer pays the same price as with full payment, just spread over 1–3 years. For a foreigner, every payment must arrive from abroad in foreign currency — otherwise the unit cannot be registered in their name as freehold.
Below is how a developer payment plan works step by step, the typical schedules with examples from Pattaya projects, what to check in the contract, and how it differs from a mortgage or post-completion financing. At the end — a payment calculation for a 4.42M ฿ condo and answers to common questions.
In short: how a payment plan works
| Stage | What is paid | Typical amount | When |
|---|---|---|---|
| Booking | Reservation deposit | 100,000–300,000 ฿ in our examples | On the day you choose the unit |
| Contract | First instalment | 10–30% of the price | Within 14–30 days of booking |
| Construction | Scheduled payments | 20–60% of the price | Monthly or every few months |
| Key handover | Balance | 10–70% of the price | After the building is completed |
| Transfer | Fees and funds on top of the price | usually 1–3% of the price | On the day of registration at the Land Office |
The booking deposit is part of the price, not an extra. Interest is normally not charged during construction. Transfer fees, the sinking fund and the first period of common fees are paid separately from the price — see below.
What a developer payment plan is
In Thailand new condos are sold off-plan and during construction. Developers want buyers early, so they let them pay in parts tied to dates or construction stages rather than all at once. This is called a payment plan or instalment plan.
The key difference from a loan: there is no bank, no income check and no interest. The buyer simply pays the price of the unit according to the schedule written in the contract. If the schedule runs for 36 months and the building is completed in 36 months, the buyer will have paid part of the price by handover and pays the balance at transfer.
A construction-period payment plan is the most common way foreigners buy new condos in Pattaya and Phuket. Thai banks rarely lend to foreigners, and not every buyer wants to pay the full amount upfront.
How buying on a payment plan works: step by step
1. Choosing the unit and booking
The buyer chooses a specific unit: building, floor, view, layout. Then they pay a booking deposit — a fixed amount after which the developer takes the unit off the market. The amount usually depends on the unit size. For example, at Wyndham Jomtien Pattaya the booking is 100,000 ฿ for a studio, 200,000 ฿ for a one-bedroom and 300,000 ฿ for a two-bedroom.
The deposit counts towards the price. But if the buyer changes their mind and does not sign the contract, the deposit is usually not refunded — check the booking form.
2. Sale and purchase agreement
Within 14–30 days of booking, the parties sign the sale and purchase agreement. It states the price, area, unit number, payment schedule, completion date and what happens in case of delay. The first instalment — 10 to 30% of the price — is usually paid at the same time.
The contract is drawn up in Thai and English. Only this version has legal force in Thailand; a translation into another language is for understanding, not for court.
3. Payments during construction
Then the buyer pays according to the schedule. Common options:
- equal monthly payments — for example, 20% of the price over 36 months;
- larger payments every few months — for example, 15% every 4 months;
- by construction stage — after the foundation, after the structure, after finishing.
A foreign buyer transfers each payment from abroad in foreign currency — more on this in a separate section below.
4. Key handover and balance
When the building is ready, the developer invites the buyer to inspect the unit. The buyer checks it, lists defects, and the developer fixes them. Then the buyer pays the balance, and the unit is transferred into their name at the Land Office.
In many schedules the balance at handover is the largest payment: from 10% to 70% of the price. By then the money should already be in a Thai account or ready to transfer.
5. Transfer fees
On the day of registration the buyer pays on top of the price their share of the transfer fee (2% of the appraised value; often split with the developer, or paid fully by the buyer — per the contract), the sinking fund and the first period of common fees. All amounts are explained in the article Property Taxes in Thailand.
Typical schedules: examples from Pattaya projects
Schedules vary a lot between developers. Here are the actual terms of three projects from our catalogue as of November 2026.
| Project | Booking | At contract | During construction | At handover |
|---|---|---|---|---|
| Seaspire Jomtien | 100,000–200,000 ฿ | 20% | 20% in equal parts over 36 months | 60% |
| Zenith 2 Pattaya | 100,000 ฿ | 30% | 4 payments of 15% every 4 months | 10% |
| Wyndham Jomtien Pattaya, plan A | 100,000–300,000 ฿ | 30% | — | 70% |
| Wyndham Jomtien Pattaya, plan C | 100,000–300,000 ฿ | 30% | 30% in parts | 40% |
Soft schedule: small payments, large balance
At Seaspire Jomtien the buyer pays 40% during construction: 20% at contract and another 20% in equal parts over 36 months. The monthly payment is small. But 60% of the price has to be paid at once at key handover.
This schedule suits buyers who plan to sell another property or save up by completion. The risk is that the money must be ready at handover — otherwise the developer may apply the penalties set out in the contract.
Dense schedule: almost everything before completion
At Zenith 2 Pattaya the buyer pays 30% at contract and four times 15% every 4 months. Only 10% is left for handover. The payments are large, but by completion the unit is almost paid off.
This schedule suits buyers who already have the money but want to spread transfers over time and see construction progress before paying the full amount.
No payments during construction
Wyndham Jomtien Pattaya offers plan A: 30% at contract and 70% at handover. Strictly speaking, this is not an instalment plan but a deferred payment: the buyer pays nothing between contract and completion. There is also plan B — the full amount within 15 days of booking. In the second building of this project units are sold with full payment only.
Completed buildings and resale
In a completed building there is usually no developer payment plan. For example, at Water Park Pattaya a ready unit is paid in full within 30 days of booking, on the day of transfer. On the resale market the seller is a private person and rarely offers instalments.
Is there interest, and a discount for full payment?
Thai developers normally charge no interest during construction. The price with a payment plan and with full payment is the same — this is visible in most project price lists.
But there are two nuances:
- Discount for full payment. Some developers give a discount to those who pay everything at once or choose a schedule with a large first instalment. The size varies by project and changes with promotions — we check it against the specific price list.
- Post-completion financing. If the developer offers to spread the balance over years after handover, that is financing, and interest is usually charged. Until the balance is paid, the unit may not be transferred to the buyer. Read such terms especially carefully.
Transferring money from abroad: the FET document
A foreigner can buy a condo as Foreign Freehold only if the money came into Thailand from abroad in foreign currency. This is a requirement of the Condominium Act. Without proof, the Land Office will not register the unit under the foreign quota.
With a payment plan this rule applies to every payment:
- Transfer from abroad. The money is sent from a foreign account in foreign currency to the buyer's Thai account or directly to the developer's account. The payment purpose states that it is for the purchase of a condo, with the project name and unit number.
- Conversion in Thailand. The currency is converted into baht by the Thai bank on receipt.
- Bank document. For each transfer the Thai bank issues a confirmation. For large amounts this is a Foreign Exchange Transaction (FET) form, for smaller ones a credit advice. Ask the bank for the threshold above which an FET form is issued.
Keep all documents for all payments until the day of transfer. If one payment came in baht from a Thai account without proof that it originated abroad, that part of the price may not count towards the foreign quota.
A separate article on transferring money for a purchase is being prepared for our blog.
What to check in the payment plan contract
The sale and purchase agreement for an off-plan condo is the main document for the 1–3 years of construction. Here is what we check before signing.
Completion date and what happens if it is late
The contract must state the completion date and the allowed extension. What matters is what the buyer gets if the developer is late: the right to terminate and get the paid money back, a penalty, or just a new date. Condo sale contracts in Thailand are among the contracts whose terms are controlled by the Office of the Consumer Protection Board (OCPB), so part of the buyer's protection is written into mandatory terms.
What happens if the buyer pays late
If the buyer misses a payment, the contract usually allows the developer to charge a penalty for each day of delay and, after a certain number of missed payments, to terminate the contract. On termination due to the buyer's fault, part of the money paid may not be returned. The exact amount should be written in the contract.
Area and deviations
The unit area in the contract is the design area. After construction the actual area may differ slightly. The contract should say how the price is recalculated if the difference exceeds the allowed tolerance, and in which direction.
Finishing, furniture and appliances
The contract or its annex lists what the unit comes with: finishing, kitchen, air conditioners, furniture package. Anything promised in advertising but not written in the contract does not have to be delivered.
Assignment before completion
Some buyers want to sell the unit before completion. This is possible by assigning the contract, but only if the contract allows it. The developer usually charges a fee for assignment and allows it only after a certain part of the price has been paid.
Costs at handover
Check who pays the transfer fee: the buyer in full or split with the developer. This can be a noticeable amount. The contract also states the sinking fund and common fees — at Seaspire Jomtien, for example, common fees are paid for the first two years in advance.
Payment plan risks and how to reduce them
The developer delays completion
Delays of several months happen even with large developers. The buyer's money is tied up during that time. What reduces the risk:
- choosing developers with a record of buildings completed on time;
- looking at the construction stage: buying when the structure is up is less risky than at the foundation stage;
- reading the delay clause before signing.
You can see developers' completed projects in the Developers section.
Money is not protected by escrow
Thailand has an Escrow Act from 2008, but it is not mandatory for selling off-plan condos. As a rule, buyer payments go directly to the developer. That is why the developer's reliability matters more than in countries with mandatory escrow.
Exchange rates change
The price is fixed in baht, while the buyer often pays from dollars, euros or other currencies. Over 2–3 years of construction the rate can move either way. If the baht strengthens, each next payment in the buyer's currency becomes more expensive.
The buyer cannot pay the balance
The most common risk of a soft schedule is that 50–70% of the price is due at completion and the money is not ready. Thai banks rarely give mortgages to foreigners. So a large balance should be planned in advance rather than relying on a last-minute loan.
The unit is not in the foreign quota
Foreigners may own no more than 49% of the total unit area in a building. If the quota is used up, the unit can only be registered as a long-term lease (leasehold) — how it differs from ownership is explained in Foreign Freehold, Thai Freehold and Leasehold. We check quota availability for the specific unit before booking.
Payment plan, mortgage or full payment: which to choose
| Method | Pros | Cons | Who it suits |
|---|---|---|---|
| Developer payment plan during construction | No interest, no income check, payments spread out | New builds only, risk of delay, large balance at completion | Buyers of new builds with money in parts |
| Full payment | Sometimes a discount, immediate ownership in a ready building | Requires the full amount at once | Buyers of ready and resale units |
| Post-completion financing | You can move in before paying in full | Usually with interest, ownership after payoff | Those who want to live in the unit right away |
| Thai bank mortgage | Payments spread over years | Rarely granted to foreigners, strict conditions | Foreigners with income and a work permit in Thailand |
A separate article on mortgages for foreigners is coming to the blog.
Calculation: a 4,420,000 ฿ condo on a payment plan
Let's take a real 34 m² one-bedroom at Zenith 2 Pattaya from the developer's price list — 4,420,000 ฿ under the foreign quota.
| Payment | Share | Amount |
|---|---|---|
| Booking | — | 100,000 ฿ (part of the price) |
| At contract | 30% | 1,326,000 ฿ |
| After 4 months | 15% | 663,000 ฿ |
| After 8 months | 15% | 663,000 ฿ |
| After 12 months | 15% | 663,000 ฿ |
| After 16 months | 15% | 663,000 ฿ |
| At key handover | 10% | 442,000 ฿ |
| Total price | 100% | 4,420,000 ฿ |
How the booking deposit is credited — against the first instalment or the last payment — is stated in the specific developer's contract.
On top of the price at handover, per the project price list:
- common fees — 60 ฿ per m² per month, about 2,040 ฿ per month for 34 m²;
- sinking fund — 600 ฿ per m² once, 20,400 ฿;
- water and electricity meters — 7,000 ฿;
- transfer fee — about 1% on the buyer's side, roughly 44,200 ฿.
In total, about 72,000 ฿ on top of the price at handover plus common fees for the first billed period. That is roughly 1.6% of the unit price.
What to check before booking
A short list of what we check with the buyer before paying the deposit:
- Quota. Is foreign quota available for this exact unit.
- Schedule. Which schedules the developer offers and whether there is a discount for full payment.
- Balance. How much is due at handover and where that money will come from.
- Date. The completion date in the contract and what is due if it is late.
- Penalties. What happens if a payment is late and if the buyer withdraws.
- Costs. Who pays the transfer fee, the size of the sinking fund and common fees.
- Transfers. Which bank will receive the money and how to get documents for each payment.
- Developer. Which buildings it has already completed and whether there were delays.
You can choose a new build with a convenient schedule in the sections Buy in Pattaya and Buy in Phuket. We compare schedules across projects, check the quota for the specific unit and support the deal from booking to transfer.
FAQ about developer payment plans in Thailand
Is there interest on a developer payment plan?
During construction — usually not. The price on a payment plan normally matches the price with full payment. Interest may apply if the developer spreads payments over years after completion.
What first payment is needed for a payment plan?
Usually a booking deposit — a fixed amount, in our examples from 100,000 to 300,000 ฿ — and a first instalment at contract of 10 to 30% of the price. In the examples above it is 20% at Seaspire Jomtien and 30% at Zenith 2 Pattaya and Wyndham Jomtien Pattaya.
Can I buy a completed condo on a payment plan?
Rarely. In completed buildings developers usually sell units with full payment at transfer. Sometimes post-completion financing is offered, but with interest.
Can a foreigner pay instalments from a Thai account?
Yes, if the money in that account came from abroad in foreign currency and there is a bank document for each transfer. Without this the unit cannot be registered under the foreign quota.
What happens if I miss a payment?
The developer will charge a penalty for each day of delay at the rate in the contract. After several missed payments it may terminate the contract, and part of the money paid may not be returned.
Can I sell the unit before completion?
Yes, by assigning the contract, if the contract allows it. The developer usually charges a fee and allows assignment after a certain part of the price has been paid.
When does the unit become the buyer's property?
After full payment and registration at the Land Office. Until then the buyer has a sale and purchase agreement, but not ownership.
See also
Read also
Is Buying an Apartment in Pattaya Worth It in 2026? Pros, Cons
Renting in Pattaya 2026: Prices, Deposit and Lease
Remote Work in Pattaya 2026: Internet, Housing, Coworking, Costs
Sources
- Department of Lands — dol.go.th — https://www.dol.go.th
- Office of the Consumer Protection Board (OCPB) — https://www.ocpb.go.th
- Bank of Thailand — Foreign Exchange — https://www.bot.or.th
This blog is written by Anna — Realty 51’s AI guide. The agency team checks the facts against open sources; still, errors are possible — double-check the details with us. Base any decision about buying, renting or relocating on the documents of the specific property and on professional advice.