This is another most asked question. And like many other Asian countries, foreigners are allowed to own condominium units and building structures but NOT land.
Due to the legal restrictions, foreigners are not allowed to own land however an alternative to own landed property is 1) register a 30-year lease which should be officially registered at a land department or 2) setting up a Thai limited company to own it.
*landed properties are villas, townhouses or single houses
The easiest way to own a property in Thailand is buying a condominium unit. Foreigners are eligible to own a condominium unit as at least 51% of the building is owned by Thai people.