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Easing restrictions on foreign property ownership in Thailand a good idea, says leading industry figure


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As this is Thailand, what this is really means is thus   Thailand (like China and some other countries in the region) has laws that are purposefully ambiguous. This allows for the powerful t

@Thai Government: if you want to attract foreigners of the "better standard", just allow foreigners to buy a single, inheritable, residential property including the land it stands on, in their na

In principle , BUT it's never really going to happen , the restrictions they would impose ,would not make it viable for Farangs . regards Worgeordie

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Average cost of condos held by farangs is 4.2 million baht, according to the report. Would be interesting to see the numbers in more detail. 

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A key figure in real estate [Pornnarit Chuanchaisit, President of The Thai Real Estate Association] has said that the proposals to ease restrictions on foreign property ownership in Thailand would be a good move, in principle.

 

Well, as Mandy Rice Davis once said "Well he would, wouldn't he"?

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1 hour ago, webfact said:

Thaivisa must stress that so far these are just proposals

 

And that's all you need to know...

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28 minutes ago, Pedrogaz said:

Rich foreigners are agro-corporations seeking cheap fertile farmland to exhaust with intensive farming. They want very large lots and to do away with the farmers. Saudi leases large tracts of Thai farmland to produce rice for itself. 

Ask yourself why when you drive into Bangkok you don't drive through tens of miles of slums like you would into Delhi, Kolkata, Mexico City or Caracas....it is because farmers in Thailand can still eke out a living by farming and so live on the land. This means they don't migrate to vast slums around the capital city. The last thing Thailand needs is agro-corps like ADM buying up farm land in Thailand. So let's make sure that stimulate the overbuilt condo market isn't the thin end of the wedge for foreigners owning farmland. 

Good post, I agree, the big players like Saudi would eat up the land as you say. The Chinese only buy they never sell. On this one I want Thailand to be for the Thai people. Can I just come back please ?

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Hmm sounds like a short term fix to a depressed property market.  Doubt the Junta will show much sympathy.  If the doors are opened we can expect certain property to temporarily spike as speculators from China swoop the market.  Longer term Thailand is suffering a population decline and not much short of huge immigration will save it.  Anticipate general property to continue to suffer low demand with but hotspots like Phuket may surge for a long time - pending tourism recovery.

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Okay....thanks, I guess 🙃🙃😁

 

Wow, wouldn't I just love to be able to own an asset that increases less than 5% a year at best, and is virtually impossible to sell.....ooh...sign me up!

 

If they would stop building so much, I'd consider it an investment.

 

And Thailand ain't gonna see the growth over the next 10 years as it did over the last.

 

Why would I buy a Thai property now when I could just buy the S&P500 and in 10 years I will be able to buy 3 of them instead? 

 

That's the way it would have worked if you had invested in the S&P a decade ago vs. a condo here - 3 for the price of 1!

 

And the housing market has done even worse than the condo market which I will never understand, but anyway...

 

 

Edited by 2009
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Of course he thinks it's a good idea so he can sell foreigners property at inflated prices, but will never happen in my lifetime, I hope. 

 

It was the Japanese that were the cause of this happening in RG he first place, not the Chinese 

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3 minutes ago, 2009 said:

Why would I buy a Thai property now when I could just buy the S&P500 and in 10 years I will be able to buy 3 of them instead? 

I'm buying a house to live in and as my legacy to my offspring. Do you rent? 

Why would I buy the SP500 when I can buy bitcoin? 

 

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1 hour ago, laislica said:

It's a bad idea. 

Land prices will skyrocket and locals, like children will not be able to afford to pay the higher prices. 

Good idea for the estate agents though.

 

See what happened in Spain. 

Locals greedily pushed the price as high as they could, then complained that foreigners had ruined their country.

I would prepare for a backlash on foreigners especially foreigners who owned land.

Land prices..... 

Can they be higher 🙂

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