Sri Lanka vs Bali vs Thailand: where can a foreigner buy a villa or land?
In none of the three can a foreigner own land freehold in their own name. Sri Lanka offers the longest secure term, a lease of up to 99 years. Bali offers leaseholds whose first term is usually around 25 to 30 years, or a right-to-use title for residents. Thailand caps leases at 30 years but sells condominiums freehold to foreigners within a 49% quota.
How do the ownership rules compare?
| Sri Lanka | Bali | Thailand | |
|---|---|---|---|
| Freehold land for foreigners | No | No | No |
| Main route for a villa | Lease of up to 99 years | Leasehold (first term often 25-30 years) or Hak Pakai for residents | Registered lease of up to 30 years |
| Apartments | Freehold, any floor, paid by inward remittance | Hak Pakai on qualifying condominiums | Freehold within the 49% foreign quota |
| Company route | Sri Lankan company with foreign shareholding below 50% for 20 years | PT PMA (foreign-owned) holding HGB, declared capital of IDR 10 billion | Thai company structures under strict limits; take advice |
| Residence permit needed to buy? | No | Yes for Hak Pakai (KITAS or KITAP); no for leasehold | No for a condominium or lease |
Sri Lanka. The 2014 Act bars freehold transfers to foreigners but allows leases of up to 99 years under Section 5, and the 15% lease tax was abolished in 2017. A 99-year lease is registered at the Land Registry like a deed. See the 99-year lease explained and can a foreigner buy land in Sri Lanka.
Bali. Indonesian freehold is reserved for citizens. Leasehold (Hak Sewa) is a notarised contract; it is often marketed as 30 + 20 + 30 years, but only the first term is guaranteed and extensions depend on the landowner. Hak Pakai, under Government Regulations No. 103 of 2015 and No. 18 of 2021, runs 30 years with a 20-year extension and a 30-year renewal, but only while you hold a residence permit; it is limited to one residential property of up to 2,000 m², a minimum price applies (IDR 2 to 2.5 billion in Bali and Bandung, according to Ray White), and short-term letting is not allowed. A PT PMA can hold a building right (HGB) and let villas through a licensed operator.
Thailand. Foreigners can buy condominium units freehold, provided foreign ownership in the building stays within 49%. Land can only be leased, for up to 30 years, registered with the Land Department. On 18 March 2025 the Supreme Court (case No. 4655/2566) held that renewal options and stacked leases designed to go beyond 30 years are void. The government announced plans in June 2024 to extend leases to 99 years and raise the condominium quota to 75%; check with a Thai lawyer whether either has become law before relying on it.
In all three countries, arrangements that put land in a local nominee's name for a foreigner's benefit are prohibited or void. Take local legal advice before you sign anything.
What do purchases cost?
| Sri Lanka | Bali | Thailand | |
|---|---|---|---|
| Transfer tax or duty | Stamp duty 3% on the first Rs 100,000, 4% on the balance; 2% of the aggregate rent on a lease | BPHTB 5% (buyer); 2.5% final income tax (seller) | Transfer fee 2% of appraised value, usually split; 3.3% specific business tax if sold within 5 years, otherwise 0.5% stamp duty |
| Capital gains on sale | 15% for individuals from 3 June 2026, 30% for companies | Seller's 2.5% final tax on freehold transfers | Withholding tax, falling with years of ownership |
Sri Lankan figures: stamp duty, legal fees and the real cost of buying land and Sri Lanka land tax for foreigners.
What do land and villas cost?
The figures below are not like for like: Sri Lanka's is a coast-wide median of agency asking prices for a long lease or freehold plot, Bali's are agents' estimates of annual leasehold rent in the most popular areas, and Phuket's are averages for branded and project villas. Treat them as orders of magnitude.
- Sri Lanka, south coast: median asking price for land LKR 907,856 a perch (about USD 2,730, or about USD 108 a square metre) across 160 agency listings on 3 November 2026; houses and villas at a median LKR 1,388,276 a perch of plot, house included. See land prices per perch.
- Bali: leasehold land in prime Pererenan, Berawa and Batu Bolong is estimated at IDR 400,000 to 500,000 or more per square metre per year, and IDR 100,000 to 250,000 in parts of the Bukit peninsula. At IDR 400,000, a 25-year lease costs about IDR 10 million per square metre in total, or roughly LKR 5 million a perch (about USD 15,000).
- Thailand, Phuket: Knight Frank puts average villa selling prices at about THB 256 million in Bang Tao and THB 150 to 180 million in Cherng Talay, Karon and Bang Jo in 2025 (at least LKR 1.5 billion, or USD 4.6 million), and condominium prices at THB 125,000 to 160,000 a square metre.
What do villas earn?
Short-let analytics from AirROI for the twelve months to September or October 2026:
| Area | Listings | Occupancy | Average daily rate | Revenue |
|---|---|---|---|---|
| Ahangama, Sri Lanka | 204 | 38.0% | LKR 43,974 (USD 132) | Two-bedroom median LKR 6.38 million |
| Kuta Selatan (Uluwatu, Bukit), Bali | 347 | 45.3% | IDR 2.92 million (USD 173) | Two-bedroom median IDR 372 million (about LKR 7.3 million) |
| Berawa (Canggu), Bali | 33 | 53.4% | IDR 3.98 million (USD 232) | Average IDR 608 million (about LKR 11.8 million) |
| Choeng Thale (Bang Tao), Phuket | 2,427 | 40% | THB 8,680 (USD 266) | Average THB 670,457 (about LKR 6.8 million) |
Revenue is gross, before management, platform fees, staff, upkeep and tax. Medians and averages are not interchangeable, and 57% of the Choeng Thale listings are apartments or condominiums. The yield you earn depends mainly on the price you pay; see the worked example in villa rental yields in Ahangama and Weligama. Tourist lets need registration in each country; in Sri Lanka, with the SLTDA.
How do seasons and lifestyle compare?
- Sri Lanka has two coasts with opposite seasons: the south coast's high season is November to April, and the east coast's is May to September, with Arugam Bay's surf from April to October. See land for sale in Arugam Bay.
- Bali is busiest from June to August in Kuta Selatan, with February the weakest month on AirROI's data.
- Phuket earns most from December to March; January is its strongest month and September its weakest.
Visa routes differ too. Sri Lanka has a 10-year Golden Paradise investor visa and a retirement visa; see buying property in Sri Lanka on a visa. In Bali, Hak Pakai depends on holding a KITAS or KITAP residence permit. Thailand runs its own long-stay schemes; check their current terms.
Frequently asked questions
Is it cheaper to buy a villa in Sri Lanka than in Bali or Thailand?
On the figures available, land on Sri Lanka's south coast is advertised at a coast-wide median of LKR 907,856 a perch, well below estimated leasehold costs in prime Bali and far below Phuket's project villas. The comparison is rough: the sources measure different things, so compare specific properties.
Which country gives a foreigner the most secure title?
Sri Lanka's lease of up to 99 years is the longest single registered term of the three. Bali's Hak Pakai can reach 80 years but only while you hold a residence permit, and a Bali leasehold's extensions depend on the landowner. Thailand caps leases at 30 years. Check with a lawyer in the country concerned.
Can a foreigner own an apartment freehold in all three?
In Sri Lanka, yes, on any floor if paid by inward remittance. In Thailand, yes, within the building's 49% foreign quota. In Indonesia, a foreigner holds an apartment under Hak Pakai rather than freehold, and needs a residence permit.
Where do villas earn the most?
On AirROI's 2025-26 data, Berawa in Bali had the highest average revenue of the areas above, at about LKR 11.8 million a year, and Ahangama's two-bedroom median was about LKR 6.4 million. Prices are higher in Bali and Phuket, so the yield, not the revenue, is what to compare.
Do I need a local lawyer?
Yes, in every case. In Sri Lanka check with a Sri Lankan lawyer, who will run a 30-year title search and register the lease. See the 8 steps to buy land safely.
Sources
- Everything foreigners need to know before buying property in Indonesia (PP 103/2015, PP 18/2021, Hak Pakai terms, minimum prices), Ray White Indonesia, 3 July 2025
- Foreigners buying property in Bali: leasehold, Hak Pakai, PT PMA with HGB, zoning, Neginski
- What taxes apply when buying property in Bali (BPHTB 5%, seller 2.5%), Bali Home Immo, 3 April 2025
- Bali land prices 2026: leasehold rates per square metre per year by area, Bali Home Immo
- Thai Supreme Court shuts door on long-term lease loopholes (case No. 4655/2566, 18 March 2025; Civil and Commercial Code sections 538 and 540), AustCham Thailand
- Thailand to extend duration of foreign land leases and condo ownership (proposal, 25 June 2024), Government Public Relations Department
- Thailand foreign ownership update: 49% condominium quota, 30-year leases, proposals not yet law (29 November 2025), Asia Lifestyle Magazine
- Thai property transfer taxes and fees (2% transfer fee, 3.3% specific business tax, 0.5% stamp duty), Terms.law
- Phuket villa and condominium market, year-end 2025, Knight Frank Thailand
- Choeng Thale, Phuket short-term rental market data, 12 months to October 2026, AirROI
- Phuket short-term rental market data (THB 32.6 per US dollar), AirROI
- Kecamatan Kuta Selatan, Bali short-term rental market data, October 2025 to September 2026 (IDR 16,870 per US dollar), AirROI
- Berawa, Bali short-term rental market data, November 2025 to October 2026 (IDR 17,136 per US dollar), AirROI
- Ahangama short-term rental market data, October 2025 to September 2026, AirROI
- Perch & Acre price snapshot of 3 November 2026: south coast land median LKR 907,856 per perch (n = 160); built property LKR 1,388,276 per perch of plot (n = 166). Rupee figures for Bali and Thailand converted through US dollars at the rates AirROI states, then at LKR 332.6 per US dollar.
General information, not legal advice. Laws and rates change; confirm every point with your own Sri Lankan lawyer before you pay a deposit.
