Payment plan at The GENS by Botanica
In briefA unit at The GENS by Botanica is paid in four steps: a $3,018 booking deposit, 30% on signing the contract, 60% in instalments through construction, and 10% at ownership transfer. Completion is scheduled for Q3 2028.
- Booking deposit $3,018 holds the unit while the contract is drawn up
- Instalments are tied to the construction schedule, not to fixed calendar dates alone
- On top of the price: sinking fund 700 ฿/m² once, common area fee 70 ฿/m² monthly
- Foreign freehold requires funds transferred into Thailand in foreign currency
- Completion Q3 2028 — roughly two years of instalments from today
Updated: · purchase process, quota and taxes →
The four steps, in order
The structure is the standard Thai off-plan model: a small deposit to hold the unit, a contract payment, instalments tied to the build, and a balance at handover.
The 60% construction tranche is split into instalments; the number and timing of those instalments is set in the sale and purchase agreement. Ask for the schedule for the specific unit — it differs depending on when in the build you buy.
What that looks like on a real unit
Worked on the entry one-bedroom at its indicative price. Figures are illustrative; the contract is in Thai baht at the developer’s official price.
| Stage | Share | 34 m² from $117,682 | 73 m² from $271,877 |
|---|---|---|---|
| Booking deposit | fixed | $3,018 | $3,018 |
| On contract | 30% | $35,304 | $81,563 |
| During construction | 60% | $70,609 | $163,126 |
| At transfer | 10% | $11,768 | $27,187 |
Prices are indicative figures from open listings as of ; the contract currency is the Thai baht. The developer’s official baht price list is sent on request.
Mortgages, credit and the question everyone asks second
Can a foreigner get a mortgage in Thailand for a condo? In practice, almost never on the terms you would expect at home. Thai retail banks lend to Thai nationals and to foreigners with a Thai work permit and local income; a non-resident buyer with no Thai income is not the customer they underwrite. A handful of international branches run foreign-currency programmes for Thai property, but the rates and deposits make them a poor substitute for a developer instalment plan.
Which is why the payment plan itself is the finance. 60 per cent of the price is spread across the construction period at zero interest — no bank, no underwriting, no early-repayment penalty. On an interest-free instalment plan for an off-plan condo, the developer is effectively the lender, and the security is the unit itself.
Transferring money to Thailand to buy a condo
- Send in foreign currency; convert to baht inside Thailand, not before
- Sender name must match the buyer named on the contract
- Keep the Foreign Exchange Transaction form for every tranche
- State the purpose of payment as purchase of a condominium unit
The FET form is what proves the money came in from abroad. Without it the Land Department will not register a foreign-quota unit — and reconstructing a transfer two years after the fact is close to impossible.
Costs that sit outside the price
- Sinking fund — 700 ฿/m², paid once at transfer. This is the building’s capital reserve, not a service charge.
- Common area fee — 70 ฿/m² per month, billed by the juristic person.
- Transfer and registration fees — typically shared between buyer and developer; the split is written into the contract.
- Utility meters — connection deposits for electricity and water at handover.
Paying from abroad
For a freehold purchase under the foreign quota, the money must arrive in Thailand from overseas in foreign currency and be converted to baht locally. The bank issues a Foreign Exchange Transaction form, and the Land Department will ask for it at registration. Send the funds in your own name, matching the buyer on the contract — a transfer from a relative’s account is the single most common reason a transfer date slips.
Worth knowing: the deposit is normally non-refundable once the reservation form is signed. Read what it says about the cooling-off period before you send it, not after.
Frequently asked questions
Is the installment plan interest-free?
The developer's construction-stage instalments are part of the purchase price, not a loan, so no interest is charged on them. Confirm the exact wording in the sale and purchase agreement before signing.
Is the booking deposit refundable?
Normally no, once the reservation form is signed. Some developers allow a short cooling-off window. Read the reservation form's cancellation clause before you transfer — we send it to you in advance.
Can I pay in cryptocurrency?
Thai developers generally require funds through the banking system, and a foreign freehold purchase specifically requires a Foreign Exchange Transaction form from a Thai bank. Ask us to confirm the current position for this project in writing.