"It's not time yet" to relax Thailand’s laws on foreigners owning land/property, say analysts

[webfact]

Picture: Manager

 

Thai business media Manager have suggested that speculation that the Thai government were about to announce that foreigners could buy their own houses in estates is unlikely to be true.

 

They quoted unnamed sources as saying that the "time is not right" to enact any major changes.

 

This may also be true regarding the changing of the 49% ceiling on foreign ownership in condo buildings.

 

Earlier in the week sources in the media had suggested that the government were on the verge of allowing foreigners to buy houses of value 10-15 million baht in housing estates.

 

The condo ceiling was also being raised to as much as 80%, it was claimed. 

 

Manager suggested that earlier claims were wide of the mark.

 

They quoted Surachate Koncheep of Phoenix Property Development and Consultancy Co Ltd as saying that the issues at hand were detailed and delicate.

 

With the government currently fully occupied with fighting the pandemic there was unlikely to be any moves to make changes until the pandemic was contained or over.

 

In addition he pointed out that foreigners were hardly beating a path to Thailand's door. 

 

With other countries facing many of their own problems Thailand was unlikely to see any foreigners come at least until July 1st and possibly not even then. 

 

The message was clear - if things are going to change it won't be now.

 

Investors should adopt a wait and see policy.

 

Thaivisa notes that many people on its forums had reacted to the news earlier in the week with some welcoming the news of a chance to buy a home - even at the steep asking price for many. 

 

It has been something long dreamed of by those who want their own piece of land and a house in their own name. 

 

Others came out and said that there is no way the Thais will change things.

 

At least for now the skeptics seem to have been proved right, though Thaivisa cautions that the stories are all "sources" for now with no official word either way. 

 

-- © Copyright Thai Visa News 2021-04-17

 

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[Thailand]

Foreigners being allowed to own land and house! 

Only if there was some unknown benefit to the ptb.

[bobbin]

 

Quelle surprise..

[overherebc]

Lots of news on many things like this always seem to be based on might be/could be.

Wonder why?

[Surelynot]

These things needed to be mulled over, considered carefully, reviewed by a committee of stake holders, pondered upon..........before being kicked into the long grass.

[ikke1959]

Everything the Government or so called officials say is not true... Same sex marriage, 90 day report land and house owning.. no covid restrictions, just name it.... Stop giving fake hopes to people..

Edited April 17, 2021 by ikke1959

[HOAX]

Of course its not time, it never will be, but isn't it time for all other countries to ban Thais from owning property, not allowing Thais to do any other work than massage and cooking, not allowing Thais to invest and not giving them citizenship and all the benefits it gives? You know, an eye for an eye, for once.

[jak2002003]

9 minutes ago, ikke1959 said:

Everything the Government or so called officials say is not true... Same sex marriage, 90 day report land and house owning.. no covid restrictions, just name it.... Stop giving fake hopes to people..

Agree. See so many of these headlines. When I read them now is automatically replace the words like 'will, hopes to, aims to', etc with NEVER WILL'. 

 

So many things they get people's hopes up for, only to have the idea fade away over time to be forgotten. 

 

Remember the hundreds of 'hubs' that Thailand was going to be for this or that?  What about the zero plastic waste (more plastic then ever now), and the stopping the burning and pollution? 

 

So many things. 

[Neeranam]

11 minutes ago, HOAX said:

Of course its not time, it never will be, but isn't it time for all other countries to ban Thais from owning property, not allowing Thais to do any other work than massage and cooking, not allowing Thais to invest and not giving them citizenship and all the benefits it gives? You know, an eye for an eye, for once.

 

Do you want Thailand to make retirees invest $500,000 in order to get a long-term visa, like for Thais in the US?

Thailand gives citizenship to foreigners. Fairly simple 3-year process for me. 

Maybe just keep the things that benefit you and get rid of the ones that don't?

I know foreign chefs here.

[ParkerN]

Just now, overherebc said:

Lots of news on many things like this always seem to be based on might be/could be.

Wonder why?

 

Running it up the flagpole to see if it flutters... it appears not to have fluttered. Not the bargains some were hoping for perhaps?

[bluesofa]

51 minutes ago, overherebc said:

Lots of news on many things like this always seem to be based on might be/could be.

Wonder why?

You could have a point there.

[SoilSpoil]

Just wait a while, it's inevitable that foreigners will be able to buy land. Too many families have accumulated too much house hold debt debt, with NPL numbers soaring. Who or what will bail them out, Thailand firmly stuck in the middle income trap and dwindling FDI numbers? It's either QE or relaxing foreign property laws. 

[RichardColeman]

Actually I think they are missing a huge opportunity here.

 

I'd do this.

1. Allow foreigners to own a property, land and all. 

2. On 'natural' death - if not sold before - the house and property goes either to the foreigners half Thai children, Thai wife, allowed to pass down once to 'foreign family' ownership for 50 years or given up to the Thai state for auction.

 

This way the land is only temporarily owned and eventually returned to a Thai. 

 

 

 

 

 

 

 

 

[trainman34014]

Can't understand why anyone ever believes this type of Fake News anyway !   Anyone who has lived here for a few years knows it will never happen.

[overherebc]

13 minutes ago, RichardColeman said:

Actually I think they are missing a huge opportunity here.

 

I'd do this.

1. Allow foreigners to own a property, land and all. 

2. On 'natural' death - if not sold before - the house and property goes either to the foreigners half Thai children, Thai wife, allowed to pass down once to 'foreign family' ownership for 50 years or given up to the Thai state for auction.

 

This way the land is only temporarily owned and eventually returned to a Thai. 

 

 

 

 

 

 

 

 

Who would control the auction?

Think about it.

[RichardColeman]

3 minutes ago, overherebc said:

Who would control the auction?

Think about it.

I'd be dead, I would not care

[Mr Meeseeks]

The lyrics in the National Anthem say it all. The land belongs to the Thais.

 

Want to own land? Become a Thai citizen.

[overherebc]

1 hour ago, Neeranam said:

 

Do you want Thailand to make retirees invest $500,000 in order to get a long-term visa, like for Thais in the US?

Thailand gives citizenship to foreigners. Fairly simple 3-year process for me. 

Maybe just keep the things that benefit you and get rid of the ones that don't?

I know foreign chefs here.

Friend went back to UK with his Thai wife, she on a settlement visa.

Reported once at wherever after 18 months. Another 18 months later gets a UK passport.

[Neeranam]

25 minutes ago, RichardColeman said:

Actually I think they are missing a huge opportunity here.

 

I'd do this.

1. Allow foreigners to own a property, land and all. 

2. On 'natural' death - if not sold before - the house and property goes either to the foreigners half Thai children, Thai wife, allowed to pass down once to 'foreign family' ownership for 50 years or given up to the Thai state for auction.

 

This way the land is only temporarily owned and eventually returned to a Thai. 

 

 

 

 

 

 

 

 

The children of Foreigner man and Thai woman have full Thai nationality.   

[Excel]

11 minutes ago, Mr Meeseeks said:

The lyrics in the National Anthem say it all. The land belongs to the Thais.

 

Want to own land? Become a Thai citizen.

That's what a lot of Chinese did

[Mr Meeseeks]

1 minute ago, Excel said:

That's what a lot of Chinese did

[overherebc]

11 minutes ago, RichardColeman said:

I'd be dead, I would not care

I've never paid for a house here. Usually the companies I've worked for have picked up the tab for where I lived.

Still haven't paid rent either since I retired.

Seriously thinking about going back to UK and may buy a small flat. When I pop my cloggs my wife can have it to sell or rent out. That will be her choice.

[jvs]

So just maybe in the future a foreigner will be able to buy a house in an estate,

only upwards 10 million baht.

So your property will be worth 2 million but you paid 10 million and get to live in a ghetto.

Just so you can own it,not this guy.

 

[holy cow cm]

1 hour ago, Neeranam said:

 

Do you want Thailand to make retirees invest $500,000 in order to get a long-term visa, like for Thais in the US?

Thailand gives citizenship to foreigners. Fairly simple 3-year process for me. 

Maybe just keep the things that benefit you and get rid of the ones that don't?

I know foreign chefs here.

I think you are off base when talking about the Thai in the USA and requirements. It is still fairly easy for Thai to go to the USA and to get a green card and then PR and then citizenship. No way is it $500,000. I know a lot of Thai in the USA and a friend who just got approval for his gal fiancé' to go. And I will take your statement of Thai PR and Thai citizenship with a light light grain of salt because it is far from the truth for most-most all. And just because you have Thai citizenship doesn't make you a Thai. Only naturalized at best being in a second category which it can be revoked at anytime they deem want to. Plainly not secure. Yes, I would love the USA to reciprocate many of the actions the Thai government gives foreigners who are legit here but cannot get past third or forth stage level of treated fair to live under a long term visa, easy PR or becoming a citizen. I for one have past the hoops of more than a tourist more than 27+ years ago. Just for me and the many o many is we cannot jump through an impossible non existent hoop. Curious. do you have family and the nine yards here?

 

Anyway for me, I am on the title as contributor which covers me for the house and not the land. So in most matters don't care as the house is home and will be passed on down to my kids and such after me and the Mrs. have passed on. I am looking to buy some other property or house, would actually love to buy the next door neighbors property if it ever comes into a sell. So for me a long term visa or easy PR would be good enough for me in my lifetime here. My kids are already US citizens and the wife would never ever consider living in the USA and staying there just to get the citizenship and then my SS benefits. As for the 90 day check in, it would be nice if they ditched it, but the biggest pain in the you know what is the yearly renewal scramble I just hate after the decades. All in all I did not think they would allow land investment, so no big deal for me as already covered in part being the house portion. so life goes on. 

[tingtong]

While it seems in Thailand it is never the right time for a foreigner yo own anything, 

In a sense must agree with the notion that this time it is actually really not the right time, and here is why:

 

The condominium market is at an oversupply, with few if any foreigners buying now, simply bcos not many able to travel.

Part of the condominiums appeal was always to be able to hold it on name, and the building's 49% ownership limit creating some sort of price support for desirable units available with a tighter limit.

 

Open buying house and land now, with a parallel increase of foreign allotted condo units will most likely only see the already so-so condo market to fully collapse, and at places the house prices to rise to a level that most local middle class will be priced out of their part of town.

 

Perhaps a stinger economy and a healthy real estate market would create the " right time" got such move; right now Thailand has neither.

 

 

 

[ParkerN]

Just now, HOAX said:

Of course its not time, it never will be, but isn't it time for all other countries to ban Thais from owning property, not allowing Thais to do any other work than massage and cooking, not allowing Thais to invest and not giving them citizenship and all the benefits it gives? You know, an eye for an eye, for once.

 

Quite right. Quid Pro Quo and a sharp kick in the backside to teach them how to behave in polite company.

[OJAS]

2 hours ago, HOAX said:

Of course its not time, it never will be, but isn't it time for all other countries to ban Thais from owning property, not allowing Thais to do any other work than massage and cooking, not allowing Thais to invest and not giving them citizenship and all the benefits it gives? You know, an eye for an eye, for once.

 

It's also high time that Thais were allowed to stay in Western countries for up to 30 days without having to go through formidable bureaucratic hurdles involved in obtaining a suitable visa, like my Thai wife had to in order to accompany me on a 12-day trip back to the UK several years ago. An eye for an eye, as you say.

[bobbin]

3 hours ago, HOAX said:

Of course its not time, it never will be, but isn't it time for all other countries to ban Thais from owning property, not allowing Thais to do any other work than massage and cooking, not allowing Thais to invest and not giving them citizenship and all the benefits it gives? You know, an eye for an eye, for once.

That's how it works for visas. Reciprocity.

 

If you put barriers in my citizens way, I return the "favour"

[Mr Meeseeks]

5 minutes ago, OJAS said:

 

It's also high time that Thais were allowed to stay in Western countries for up to 30 days without having to go through formidable bureaucratic hurdles involved in obtaining a suitable visa, like my Thai wife had to in order to accompany me on a 12-day trip back to the UK several years ago. An eye for an eye, as you say.

Only when they can be trusted to abide by the conditions of their visa, which too large a percentage do not. 

[bobbin]

2 hours ago, Neeranam said:

 

Do you want Thailand to make retirees invest $500,000 in order to get a long-term visa, like for Thais in the US?

Thailand gives citizenship to foreigners. Fairly simple 3-year process for me. 

Maybe just keep the things that benefit you and get rid of the ones that don't?

I know foreign chefs here.

We don't get long-term "visas"..

 

We get 1 year visas with yearly extensions.. subject to changing whims.

 

No matter how invested you are here, financially or personally, you are only a year away from being shown the door.

 

That 3 year process involves marriage and a work history, the latter not an option for retirees. You are trying to compare apples and oranges.

 

And you know this well, so why try to troll this thread?