Sena Development opens rent-to-own condo scheme to foreign buyers to clear 6,000 unsold units

Foreigners looking to purchase a condominium in Thailand have a new route to ownership. SET-listed developer Sena Development is expanding its rent-to-own scheme to include foreign buyers, according to a recent report by the Bangkok Post.

The move is a direct response to a surplus of property on the market. Sena is opening the program to non-Thais in an attempt to clear a massive inventory of more than 6,000 unsold condo units.

While rent-to-own models are common in some Western markets, they have traditionally been restricted or unavailable to foreign buyers in Thailand. This expansion signals a shift as developers look for new ways to move stagnant stock.

What this means for you

If you are an expat who wants to buy a condo but prefers not to drop a lump sum upfront—or if you face hurdles securing a local Thai mortgage—this program offers an alternative path.

Because the specific terms of Sena's expanded program were just announced, interested buyers should verify a few key details before signing a contract:

• Foreign quota: Ensure the building still has room within its 49% foreign ownership quota before you begin the rent-to-own process.
• Payment structure: Clarify exactly what percentage of your monthly rent goes toward the principal purchase price, and what happens to that equity if you decide to move.
• Visa requirements: Check if the developer requires a specific long-term visa to qualify for the scheme.

As developers across Thailand deal with excess inventory, we may see other companies introduce similar flexible purchasing options for expats. For now, Sena's program offers a practical option for those looking to transition from renting to owning.