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

[seancbk]

On 6/10/2021 at 1:21 PM, webfact said:

and work for up to 20 hours a week without a work permit.

 

Just this part of the statement shows how little thought goes into these ideas.  How do you determine if someone has worked 20 hours? 

They just don't seem to be able to think through the practical details of any of their proposals. 

 

[jacob29]

On 6/10/2021 at 2:25 PM, bkk_bwana said:

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

It's like asking Nestle if privatising water is a good idea.

On 6/10/2021 at 2:48 PM, 2009 said:

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!

The unremarkable growth of property in Thailand shows that their current policies are working as intended. The average citizen doesn't want to see themselves priced out of the market, and the government has a duty to encourage affordable housing. Why change a winning formula?

Edited June 12, 2021 by jacob29

[John Drake]

Easing restrictions on foreign property ownership in Thailand a good idea, says real estate salesman.

 

Headline adjusted for clarification purposes.

[ThLT]

Basically. . .

 

What half of the users in this thread hear and answer:
 

"Is it a good thing [for me] that foreigners/non-citizens be able to buy land in Thailand"?

"Yes!" ????

 

What the other half of the users in this thread hear:
 

"Is it a good thing [for Thailand and Thai citizens, and in the long-term] that foreigners/non-citizens be able to buy land in Thailand"? 

[TooBigToFit]

On 6/11/2021 at 8:32 AM, bradiston said:

Being set on, gunned down or run over in the street because of your ethnicity is hardly the same as not being allowed to buy land. 

I'm not comparing it. My point is Thai people that have no connection to the US, other than maybe the desire to move there, are complaining about this rather than speaking up to end the racism and xenophobia right in front of them. And even more, right here in Thailand, Thais are beaten in the streets or murdered for their political views and many Thais complaining about what's happening in America don't care about that either. Thousands of Thais get US citizenship every year. Hundreds of thousands of Thais own homes with land in America in their own names, how many Americans own them in Thailand despite living here for decades? Thailand is xenophobic and racist. It's laws show it clearly. Despite living in Thailand 10-20-30 years, you'll still get double charged as a foreigner at many places including national parks. Every Thai knows it because the sign is right there to see. It's straight out discrimination.

 

Honestly, I think Thailand's xenophobic laws may in fact be the way to go. They do help Thai people and Thai people aren't ashamed of being called xenophobic and racist because the terms mean nothing in their society. They think they are part of the modern world but in fact aren't. So xenophobia and racism still work in Asia and they can complain about the developed world using its own language against it. And of course, individual Thais don't get very angry about foreigners taking jobs or land or property because they know the laws prevent that from happening.

 

Of course, you can hear racism from some Thais but it rarely does get to the point of outright violence. My new neighbor through the marriage to a second niece in the Thai army fired his gun into the air while drinking on Thai New Year a month back and told people he wanted to kill me because I complained about his music shaking our house it was so loud. I guess I wasn't very Thai in doing that. But the village head dealt with it and it was brought to the local police. Things are quiet now. The Thai solution might be better than the way the US deals with stuff like this. I haven't dealt with him since that and actually never really knew or talked to him before or after the first time. I just hope for the best with this type of person next to me for life. Anyways, there are things going on but a lot is dampered by the laws and culture. My point with the Thai law being good is if other nations like the US which has this anger towards Asians had laws like Thailand's maybe there would be less open racism and violence. The law would be something for the people to see as security for them, not foreigners. They would know that every foreigner is just a 'guest' and that means they can be kicked out at any time whether they have a family in the US or not.  I'm only saying the Thai law works in some ways to be objective.

 

In reality after living in Thailand as a discriminated 'minority', of course I feel the US has more humane laws and Thailand should be as open as the US is to foreigners rights. Foreigners should be able to get residency more easily, own land, open businesses without ridiculous rules and have equal rights as the locals, outside of voting.

[Rampant Rabbit]

On 6/10/2021 at 1:52 PM, Fex Bluse said:

 

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 to exploit them when convenient.

 

What they mean by calling for clarification is some new law or revised law that is purposefully ambiguous, luring foreigners to the buy land that can be slowly stolen from them when the economy is stronger.

 

It's all a game - and the Thais never lose.

They do  lose.................eventually,  it's  just a longer  game.

[TooBigToFit]

On 6/11/2021 at 8:58 AM, Zack61 said:

This is not a good idea for the average Thai. The only winners from this proposal is "old mate" and his real estate buddies. The average Thai is going to be priced out of the market and future generations will be paying rent to foreign carpet baggers. The rules governing foreign ownership of property in Thailand, I believe, are one of the best things going and protects the vulnerable from overseas opportunists who would have no interest other than get rich at their expense. It'll be a sad day if and when this happens and god help future generations. The Thai government needs to serve the best interest of it's people and this would only sell them down the gurgler if allowed to happen. Selling off to foreign interests does not bode well in the long run.

Don't do it!!!!!

There's definitely some truth in that but as it is now, the vast majority of Thais only benefit from cheap prices. The hording by the rich still goes on but it's the Thai elite who are doing it. The US has ridiculous housing prices probably because it's open the world's rich to invest in. The issue is never really talked about but plenty of property in the US is owned by rich families from around the world including Thailand. And the masses of legal and illegal immigrants renting and buying land add to the pressure on prices. It's all great for the realtors and rich as you say but the working poor of America are getting screwed. Either way problems exist with both options. Thailand's choice to let the wealthy in is great for the friends of the rich Thais who own this place who are foreigners but not average people. You could say the new considered offering by the government really only benefits very wealthy people. Prayuth came to the same conclusion as Thaksin as to how to bring money into Thailand. These days its not stimulating business; it's stimulating the richest.

[bkk_bwana]

On 6/10/2021 at 2:48 PM, 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? 

 

It depends how you look at it. If you are looking for a home to live in and want to offset the cost of the property against not having to pay rent, then there is nothing wrong in owning. 

[LivinLOS]

On 6/12/2021 at 6:02 AM, mrmicbkktxl said:

I understand that but it's not my point.Point is you own a property and you got a visa for it.If I go to travel for a year and come back I still own a property but I don't get a visa because they changed the visa rules.So what is the point of owning a property here if they change the visa rules whenever it fits them?

They then have new rules.. Its a new visa and a new entry under a new system. You cant expect a countrys rules to never change into the future. 

Grandfathering is a simple concept.. The folks who obtained an extension of stay for 3 million investment were grandfathered and many are still here, extending each year under that basis.. To claim otherwise is not correct. 

Theres plenty that is valid to criticize but in this case I dont see it. 

[BigC]

this biggest problem here is neglecting the less wealthy foreigners

 

Thailand  must remember  that wealthy foreigners  can live anywhere in the world pretty much.

 

large amount  of income is lost  due to large living  visa costs for the lower paying  tourists  and expats 

 

expats in large numbers  as much as some of us do not like them make up a huge sum of income for the country in areas like pattaya  phuket samui islands chiangmai

 

even though  some of these people maybe considered  scummy  people they  have allot of value. in numbers 

 

there is plenty of places in these areas for rich or people or people  that want to be away from the less richer people

 

but remember 

 

everyone needs to eat

everyone needs a room to sleep

everyone  needs transport

 

 

that's  rooms/ houses  for rent

motorbike cars for rent 

restaurants 

 

then luxuries like entertainment 

massages at good prices

cheap  beer

 

all this makes jobs and families  for Thai  people 

 

and brings in allot of income

 

[fusion58]

Funny how the question “why would foreigners want to own property in Thailand when the paths to permanent residence and/or citizenship are extremely limited?” never seems to occur to them.