Thailand is facing renewed calls to tighten regulations governing foreign condominium ownership as the government considers raising the foreign ownership quota in condominium projects to attract overseas investment and support a property market still struggling with a slowdown.
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The proposal is viewed as a way to improve liquidity in the real estate sector and help developers clear unsold inventory. However, concerns have emerged over housing affordability for Thai citizens, property speculation and the long-term impact of increased foreign ownership.
Dr Sopon Pornchokchai, president of the Agency for Real Estate Affairs (AREA), said the debate should move beyond claims that Thailand is “selling the nation”. He noted that only a limited number of condominium projects have reached the current 49% foreign ownership quota and that foreign buyers accounted for less than 20% of total condominium purchases last year.
Sopon argued that Thailand’s rules are considerably more lenient than those in China. Foreign buyers in Thailand face no residency requirement before purchasing a condominium, whereas China generally requires foreigners to have lived in the country for around one to two years before becoming eligible to buy property.
He also highlighted the absence of a minimum purchase price in Thailand. AREA’s survey of foreign condominium purchases in Bangkok and surrounding provinces in 2025 found that around two-thirds of units purchased by foreigners were priced at 5 million baht or less. By comparison, foreigners purchasing condominiums in major Chinese cities typically face costs of around 10-20 million baht or more due to higher property values and larger unit sizes.
The number of units foreigners can purchase has also come under scrutiny. Thailand allows foreign buyers to acquire multiple units provided the building remains within the legal foreign ownership quota, while China generally limits foreign buyers to a single unit. Sopon also raised concerns about nominee ownership structures and claimed that foreign owners already play a significant role in the management of some condominium projects in Bangkok, Pattaya and Hua Hin.
Additional concerns relate to property speculation and short-term rentals. Sopon said Thailand permits foreign buyers to purchase condominiums for investment and resale, while enforcement against illegal daily rentals remains weak. He warned that some buildings could become dominated by owners from a single nationality, potentially creating foreign enclaves and affecting the hotel sector if units are used as unlicensed accommodation.
Sopon also criticised Thailand’s low property tax burden on foreign owners. He said annual property taxes, rental income taxes and capital gains taxes are significantly lower than those imposed in China, making Thailand particularly attractive for investment-focused buyers seeking returns rather than permanent residence.
The Nation reported that the government has yet to decide whether to increase the foreign ownership quota. Sopon said any expansion should be accompanied by stricter, more transparent regulations to balance foreign investment with the long-term interests of Thailand and its citizens.
Picture courtesy of The Nation
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Adapted by ASEAN Now Nation 21 June 2026