According to the Thai laws it is not possible for foreigners to own properties in Thailand. Strictly speaking, foreigners can own flats or houses in Thailand but not the land. Nevertheless, foreigners still invest more and more in land and properties in Thailand in order to make an investment or just use them.
How is it possible?
Lawyers found a solution long time ago.

Another way is to establish a company in Thailand, whereas the company can own the entire land. Although in Thailand at least 51 percent of a company must be owned by a Thai native, foreigners can, by choosing the right form of company establishment and its structure, hold total control over the company and decide on investments, sale, purchase, simply anything.
Nowadays the government is passing a law which would enable foreigners own land but it is not clear when this law will come into force. Nevertheless, this has already been taken into account in our contracts and we will include the fact that if the law changes in Thailand in the future foreigners will be allowed to own land in their names and this will be provided without any other financial conditions given by previous owner. This will be included in the contract in the form of an annex.
Foreigners investing in properties in Thailand know that in case that this law will not be passed, the period of land use is 90 years which is more than 3 generations and more than sufficient (from today’s point of view it would be 30 years before World War II). Nevertheless, such a piece of land can still be sold with remaining number of years. Most of the purchasers speculate that they can use their property for approx. 20 – 30 years and then sell it for a multiple price.
Concerning apartments the situation is different. Foreigners can, in most cases, own the entire property and have it written in their names. It means using the property for an indefinite period of time.