Can foreigners buy property in Thailand for a long-term visa?

In Thailand, foreigners cannot own land but can lease it for long periods (30 or 60 years). They can legally own houses built on that land. However, for long-term residency, options like the Elite Visa exist, which require significant financial means. Foreigners can buy condos, provided that at least 51% of the building is owned by Thai nationals. For purchasing land legally, foreign companies may do so through BOI (Board of Investment) investments.