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Buying Thai real estate under a leasehold interest is a very popular and preferred way for foreigners to acquire property in Thailand.
Why is it the favored alternative?

It is simple and straightforward.
Foreigners can obtain full interest on a lease in Thailand throughout the specified lease term.
This is preferred over purchasing through a limited company where you have several shareholders who may have interests that are different from yours.
You can transfer the leasehold interest or even sell it the same as you would for any other freehold title conveyance in Thailand.
The maximum lease term is 30 years.

An option to renew will not be automatic and an additional 30 year periods will depend on careful drafting and discretion of the Registrar at the Land Office.