Give foreigners thirty year visas for million dollar investment and watch land prices rocket, says Phuket group

[Percy P]

2 hours ago, Smithson said:

And how does this proposal help all the poor Thais struggling so much ATM?

 

Not one bit. 

[Heng]

Surprisingly lots of protectionist comments.   No free market proponents?   

[Benmart]

Greed and slimy schemes are the foundations of corruption and ultimate failure. The wicked have never learned this concept.

[Percy P]

3 hours ago, MadMac said:

That train has left to other destinations. Thailand will not recover in the next 5...10 years. Remember how long there were construction ruins everywhere in Bangkok after the 1997/98 disaster. It is over. Regardless. And still getting worse. Shame.

And the same thing around the country .many building on the way to Hua Hin still empty and unfinished. Many start up estates just abandoned. 

[hotchilli]

3 hours ago, webfact said:

CISSA chairman Attanop Phanthukamnert was talking to Bangkok Business News after nearly a month of the Phuket Sandbox reopening to foreign tourists plan.

 

He said there was no indication yet whether the sandbox had helped local people as economic data was lacking. 

And yet just yesterday it was reported down to the last baht how much was being spent... so who's telling the truth?

[hotchilli]

3 hours ago, webfact said:

A Phuket real estate group has thrown it's support behind plans that have been presented to the government to attract a million foreigners to Thailand.

 

And CISSA have even gone farther suggesting that foreigners who invest 30 million baht in Thailand should be given 30 year visas.

Please foreigners, come back and help bail-out Thailand.

[geisha]

Not many will wish to invest any amount of money into Thailand, the country is in ruins ! Some expat pensioners maybe, rather like Benidorm or Malaga, a few million Baht (3/5) max would be my estimate. 

[PEE TEE]

Still have to do 90 day report ? 

[RandolphGB]

Seems like a very overpriced visa. 

 

After all, an elite visa is only 2 million baht for 20 years. 

 

Anyone with $1m to throw around won't be worrying much about visas.

[Tarteso]

39 millions and 30 years Visa ?

Then..we move to Thailand, Darling ?

 

 

 

Edited July 27, 2021 by metisdead
Trolling image removed.

[poskat]

3 hours ago, Smithson said:

And how does this proposal help all the poor Thais struggling so much ATM?

 

it isnt designed to help the thai people.

 

its designed to help the real estate agents who get paid as a percentage of the selling price.

 

3-fold increase in property value/selling price = 3-fold increase in their commissions w/o having to do a thing.

[BestB]

How is 1 000 000 baht 20 year visa selling? Did bright bulbs think charging 30 times more will attract more people? or they just can not use a calculator?

 

1 000 000 gets you 20 year visa, another 1 000 000 gets you another 20 years, total 40 years for 2 million baht 

30 000 000 baht gets you 30 year visa.

 

Geeeee, i wonder what is a better choice

[digger70]

Give foreigners thirty year visas for million dollar investment and watch land prices rocket, says Phuket group.  

 

Look at this , Must be A New Virus/Mutated  in Thailand.  GREED

[spidermike007]

Dead wrong. Though the idea of giving those of us who can demonstrate financial stability longer visas is smart, for a variety of reasons, it will not boost real estate prices. Not after the recent government imposed devastation. Not by a long shot. This recovery is going to be far worse than 1997, no matter how much they dream or lie, or attempt to fabricate an alternative reality. Real estate prices are bound to drop, with perhaps the exception being rural farm land. And even that, who knows?

[Nanaplaza666]

People that can spend 30milj baht can spend a milj more to get the Elite visa so why does he even come.up with this . And owning land will never be alowed not in 30milj years . 

[Bim Smith]

They just don't get it do they. They told us a year ago it's the new normal. The idea is to crash the economy not revive it. Bank of Thailand already signed to digital currency. The great reset is here. Doesn't matter what country you live the Marxists won.

[dsj]

It's not a great deal, up until several years ago, if you invested 20 million Baht in Canada, for 5 - 8years, in a business or (I believe) land, then they would give you permanent residence status in Canada.

[kiwikeith]

3 hours ago, thaibeachlovers said:

Which is exactly why this abominable scheme should never succeed. It's dreamed up by greedy people that care nothing about their fellow countrymen.

 

If it does succeed, there should be a 99% capital gain tax imposed for land sales over a million baht.

 

However, it seems like a typical Phuket scheme, given how greed runs deep there, IMO. Just look at what happened after the tsunami.

 

The USA today news reports say, the bubble has burst, real estate has stopped rising.

Seeing it is still going ballistic in NZ and Aussie, I wonder when that will apply to us.

The major problem World Wide is, there is not much left to do to make a buck.

The opp shops now have only junk in them, as dealers are buying anything good early or it does not hit the shop b4 it is sold under the table.

Car dealers are placing cars on the roadside everywhere trying to make them look like private sales, many of these cars are dealer owned, but they can not afford the yard anymore and work from home, cars are everywhere for sale on the streets in North NZ.

 

Thailand has a funny real estate market , you can see properties advertised for 10 million and sell for 4 /6 if lucky. location location.

I have tried to buy land b4 and been offered a price of 4 million and walked away, and seen it sold 6 months later for 1 million, depends on if your able, to not let anyone know your shopping --as normal Thais can become middle men in a few hours.

Given that, you only need to look at the big boys paying premium for art and classic BMW's and Porches, ect, as there is no money on investments to be made- unless you produce rubber gloves and face masks.

That means my trip to USA to buy a couple of classics , sell one to pay for the other is over, they are priced to high and you can not travel-- gazumped.

 

So poor old street vendors, knock off cloth sellers and the markets , restaurants, and all in the chain are at present in a financial meltdown.

So the beech vendors are forced back to the rice farm, or what's left of them, after your brother sold half of it to pay for his card playing debt.

Everyone's now drinking home made rice whiskey and fishing from the nearest  water hole to survive.

Given that I bet that there will be sharing and humour amongst them, that's why " The Land Of Smiles will return one day.

[LivinLOS]

They used to give PR for 40 million.. Now its just a visa.. 

[Airalee]

39 minutes ago, Heng said:

Surprisingly lots of protectionist comments.   No free market proponents?   

I’m not seeing all that many protectionist comments…only a few.  
 

The free market appears to have spoken already.  The Thailand elite visa hasn’t yet hit 10,000 members at $30,000 for a 20 year visa since it was introduced 18 years ago.  So now they think that somewhere there are a million multimillionaires chomping at the bit to pony up a little over $900,000 for a 30 year visa?

[Airalee]

27 minutes ago, RandolphGB said:

Seems like a very overpriced visa. 

 

After all, an elite visa is only 2 million baht for 20 years. 

 

Anyone with $1m to throw around won't be worrying much about visas.

It’s actually only a million baht for 20 years if you don’t want the golf/spa/limo from airport add ons.

 

https://www.thailandelite.com/at-your-service/card/elite-superiority-extension-membership?locate=en&popup=false

[kiwikeith]

2 minutes ago, Airalee said:

I’m not seeing all that many protectionist comments…only a few.  
 

The free market appears to have spoken already.  The Thailand elite visa hasn’t yet hit 10,000 members at $30,000 for a 20 year visa since it was introduced 18 years ago.  So now they think that somewhere there are a million multimillionaires chomping at the bit to pony up a little over $900,000 for a 30 year visa?

Superstition prevails, in LOS, if you nearly got run over by a car or truck and managed to remember 3 numbers of the license plate , then search all lottery sellers for a ticket with those numbers.

 

[crazykopite]

Where do they manage to find these clowns ,allow foreigners to buy land outright without having to form companies or take on leases and you might get a lot of interest .for a million $$$$ they could buy freehold properties and allowed to stay for as long as they want 

[WinterGael]

Pure stupidity... when you allow foreign ownership of property it does cause a huge jump in value of real estate.  And the only ones who benefit from it are developers, real estate agents, and the foreign buyers.  Look at Canada.  Cities like vancouver and Toronto are so expensive to buy in that average Canadians cannot afford a home.  Both the federal and provincial governments have stepped in to try and fix the problem but it really is too late.  The result has been vancouver watch new businesses and companies moving to smaller cities where life is affordable and they can attract workers who can afford to live there.  Can any sane person imagine that happening here?  The damage it could cause would be horrendous. 

[Surasak]

I am laughing, but this is no laughing matter.

If whit were, you know what, these people would be constipated.

[XJPSX]

And what Chinese name could they then call Phuket. Puxing? 
What a moronic idea. 
Thailand sells EVERYTHING but this would take the corruption allegations cake - sorry only 2nd behind owning a Vaccine Company.

[TheFishman1]

Million dollar question when can foreigners in Chiang Mai receive the vaccine tit

[Bluespunk]

4 hours ago, webfact said:

This he claimed along with the other measures being proposed could result in land prices in Phuket doubling or even trebling. 

“Growth for the sake of growth is the ideology of the cancer cell.”
― Edward Abbe

[Cake Monster]

4 hours ago, BobinBKK said:

If you really trust investing your hard earned money into a country that's prone to military coups and daily government flip-flops which are completely void common sense and logic, then have at it!!!

What sane individual would invest I M $ into Thailand.

This comes only a week after the Gov,t threatened to hijack all the Vaccines from the AZ plant, and whos to say they would not kick you out after you have parted with your money.

 

[kiwikeith]

2 minutes ago, WinterGael said:

Pure stupidity... when you allow foreign ownership of property it does cause a huge jump in value of real estate.  And the only ones who benefit from it are developers, real estate agents, and the foreign buyers.  Look at Canada.  Cities like vancouver and Toronto are so expensive to buy in that average Canadians cannot afford a home.  Both the federal and provincial governments have stepped in to try and fix the problem but it really is too late.  The result has been vancouver watch new businesses and companies moving to smaller cities where life is affordable and they can attract workers who can afford to live there.  Can any sane person imagine that happening here?  The damage it could cause would be horrendous. 

A few years ago now, Auckland NZ, houses rose from 100k to 400k, then they said where will this stop.

Chinese and developers flowed in were allowed to buy houses , land and farms, and open milk powder production factories, houses that were 400k are now 4 million, and they are just now, putting the breaks on foreign ownership.

Banks then compensated by offering loans at 1%, now they are talking of raising the OFC, you can't earn nothing on retirement savings and now the banks are going to create mortgagee sales and plunge those that borrowed at 1% into doom.

Vancouver our sister.