I believe that house prices in Australia, and elsewhere, rocketed because of supply and demand. More buyers, but no government permission to build new houses. Deliberate policy for the government to get more tax from the "high priced" houses. Land in Bangkok is already more expensive than London. So maybe the prices would not skyrocket. Outside of the big cities, allow houses / condos to be built. Supply and demand to keep the prices down. The problem will be. You buy your reasonably priced property in Thailand. Live in it, and after 180 days you become liable for Thai tax.