Caution urged for relaxing laws on foreigners owning land in Thailand

[webfact]

Picture: Sanook

 

A leading figure in the real estate business has urged caution regarding the Thai government’s plans to relax laws regarding foreigners owning condos and land in Thailand. 

 

 likened relaxing rules about condo and land ownership for foreign investors to allow them to live in Thailand to treason.

 

Plans are afoot to allow 100% of condo developments to be owned by foreigners and even allow foreigners to own land and buy their own homes on that land in certain areas, reported Sanook.

 

But Dr Sophon Pornchokchai, who is chairman of the Agency for Real Estate Affairs cautioned in an online rant that it was not necessarily a good idea. 

 

He even went as far to say the plans were treasonous.

 

Dr Sophon warned that Thailand did not have the preventative measures in place like other countries to prevent the widespread purchase of land in Thailand by foreigners. 

 

He called for all sides to engage in debate about the issue and for the government not to just listen to the views of foreign investors who want the laws changed. 

 

All sides and all views need to be aired and considered.

 

In other reports on ASEAN NOW today we report that changes to land and condo ownership laws could be pushed through as early as next year. 

 

Thailand wants to kickstart the economy and attract a million wealthy foreigners including retirees and digital nomads to spend a trillion baht over the next five years. 

 

The issue is likely to stir strong feelings and the use of expressions like "khai chart" (selling out the country or treason) will doubtless be bandied about as both genuinely held beliefs and political attack weapons.

 

 

-- © Copyright  ASEAN NOW 2021-09-20

 

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[mahtin]

But it's all part of the master plan...

[Will B Good]

5 minutes ago, webfact said:

He even went as far to say the plans were treasonous.

There must be a defamation case coming his way.

[Shuya]

Relax buddy.... They just make a new law in five years that foreigners can't own land and have to sell within 12 months. All part of the master plan. 

[RotBenz8888]

6 minutes ago, webfact said:

A leading figure in the real estate business has urged caution

So he hasnt been invited to the "buffet" ? 

[Elkski]

It's starting

[MRToMRT]

25 minutes ago, webfact said:

Dr Sophon Pornchokchai, who is chairman of the Agency for Real Estate Affairs

You will find Sophon's name all over the place in the past, I would term him a bit of my idea of a right wing xenophobist. "Agency FREA" is his private company, I know him and the company as I hired them to value my home back in the day. He was University (thats how I came to know him) lecturer with private business interests.

[herfiehandbag]

1 hour ago, webfact said:

But Dr Sophon Pornchokchai, who is chairman of the Agency for Real Estate Affairs

and, it would appear an absolutely raving xenephobe!

[Geoffggi]

The Chinese will be happy, the parts they don't already own will soon be theirs ...........????????????

[LongTimeLurker]

2 hours ago, webfact said:

Dr Sophon warned that Thailand did not have the preventative measures in place like other countries to prevent the widespread purchase of land in Thailand by foreigners. 

Of course they do, otherwise there would already be widespread purchase of land in Thailand by foreigners. 

[Doctor Tom]

It would be an extreme folly for the Thais to allow extensive foreign ownership of land.  Land is your Nation in physical form, sell it off at your peril.  They could restrict it to the building of say one official family holding and dwelling of say 1 Rai maximum. I just wish the UK government would stop selling off land and other National assets to various Russian oligarchs and Chinese criminals. It is a mistake beyond words

[Sir Dude]

This guy sounds like exactly the type of xenophobic relic from the early 20th century that should not have any input into the future of Thailand... exactly the type of intolerant elitist nonsense that is unhelpful and welcome. He probably thinks protesting about inequality in society is treasonous too. As an aside, likely he owns a property outright in London, Paris, New York or such place.

Edited September 20, 2021 by Sir Dude
Typos

[daveAustin]

I wonder how much property this character owns overseas! True, free for all foreign ownership would probably push up prices beyond ordinary Thais but that’s never going to happen. There’d be all sorts of quirks and it’d only be certain areas. What they should be looking at is being more accommodating to foreigners with a genuine connection that have lived there for years… say, to buy ONE house and own a rai. 

[RichardColeman]

I do not see an issue with foreigners holding land if certain agreements were put into law.

 

1. Your property passes into the hands of your Thai partner or children after your death. Or one generation on non-thai children living in Thailand, thereby giving them a chance to sell it.

2. if you die and  you still own a property, your direct family have 5 years to sell it before it is returned to the state.

 

This way the property always returns to the Thai people and only owned by foreigners until death, and let's face it most of us when we are dead will not give a hoot about owning land. 

 

 

 

[Clutch]

The land idea has Dual Pricing written all over it... 

Edited September 20, 2021 by Clutch

[G Rex]

5 minutes ago, Clutch said:

The land idea has Duel Pricing written all over it... 

Pistols at dawn??

[BKKTRAVELER]

I honestly think each country should preserve the ownership of their own land. But that's not the case in many countries nowadays. But then it should bilateral agreements. If a Thai can purchase a land in the US for example, they should allow US citizens to buy land in Thailand. Since Thailand forbids any foreigner to buy their land, they shouldn't be allowed to buy land abroad either. 

 

But I know that other countries see beneficial interests in selling their lands to whoever so it won't happen, Thailand is in a good spot right now. They keep their land and can expand their influence in other countries. Why would they change that?

[samtam]

33 minutes ago, RichardColeman said:

I do not see an issue with foreigners holding land if certain agreements were put into law.

 

1. Your property passes into the hands of your Thai partner or children after your death. Or one generation on non-thai children living in Thailand, thereby giving them a chance to sell it.

2. if you die and  you still own a property, your direct family have 5 years to sell it before it is returned to the state.

 

This way the property always returns to the Thai people and only owned by foreigners until death, and let's face it most of us when we are dead will not give a hoot about owning land. 

 

 

 

You're assuming all foreigners are married to Thais, or you want land ownership to only be available to those who are?

[cyril sneer]

41 minutes ago, RichardColeman said:

 

This way the property always returns to the Thai people and only owned by foreigners until death, and let's face it most of us when we are dead will not give a hoot about owning land. 

problem is Thai people are most likely to sell the land and buy gold and lottery tickets

 

eventually the government gets it all back

[tingtongfarang]

5 minutes ago, cyril sneer said:

problem is Thai people are most likely to sell the land and buy gold and lottery tickets

 

eventually the government gets it all back

Nope... they buy pickups and have accidents resulting in death

[tingtongfarang]

its all fine by me what ever they do, i have no wish to own anything in thailand apart from the car and motocyc i have,

renting is the way to go here

[Rookiescot]

He has a point though.

The issue will not be westerners buying one rai out in the sticks somewhere and building a house for him and his familly.

The issue will be Chinese companies buying up huge tracts of land and developing them as a home from home for use by a select few of their fellow countrymen.

Myanmar, Cambodia and Laos are already experiencing this. 

[Thailion]

I don't understand why it is so difficult.

You could have say 4 moo bahns (N, S, E and W) in somewhere like Chiang Mai where foreigners could legally buy and sell land and homes.

If they sell out and Thais want to attract more investment they can add (and obviously control) more moo bahns or cap it when they feel there is enough.

[MGM16]

1 hour ago, RichardColeman said:

This way the property always returns to the Thai people and only owned by foreigners until death, and let's face it most of us when we are dead will not give a hoot about owning land. 

 

 

 

Stop giving them ideas!????

[mvdf]

There will be fine/small print somewhere that says ownership rights expire in 5 years whether the falang likes it or not

[inThailand]

How many tens of times have they discussed this issue over the years. We expats will all be dead and burnt before it ever happens. The original fake news? 

[Chang_paarp]

4 hours ago, webfact said:

 

But Dr Sophon Pornchokchai, who is chairman of the Agency for Real Estate Affairs cautioned in an online rant that it was not necessarily a good idea. 

 

I wonder what the rest of the real estate industry thinks about this loss of potential commissions? Prices rise more commission.

[mjakob007]

4 hours ago, webfact said:

But Dr Sophon Pornchokchai, who is chairman of the Agency for Real Estate Affairs cautioned in an online rant that it was not necessarily a good idea. 

Wonder how many properties Dr owns overseas!

 

We like to be 'super sure' about winning every time. Cant afford any risks of losing.

- when a farang gets beaten up, it has to be at least 4 Vs 1.

- in a condo, minimum thai ownership has to be 51%

- Land or businesses - no way

- Even countries such as Saudi (which is deemed the seat of islam) has eased restrictions, to attract Foreign investments.

 

But we are going to attract a million, of the global 'creme de la creme' without giving them any chances of winning!

 

[Scouse123]

I wish they would hurry up , I can't wait to add another 6 rai in my name on to the 8 rai in my other half's name that we already have and 6 of that isn't used, and for all their grandiose ideas, hasn't been used for 20 years.

 

I suggested renting it off at a peppercorn rent just to get a farmer willing to use it instead of it being scrub-land. 

 

The answers I got back was they wanted to keep it to make a house for the older brother after he finished working in Bangkok, the nieces at university for their futures, blah, blah, blah.

 

Still there, doing nothing.

[Guderian]

Is this the same nutter who, a few years back, claimed that farangs already own 30% of the land Thailand? When you checked his numbers, it turned out he was also claiming that farangs owned 150% of the land in Phuket! Please, turn him off somebody, lol.

Edited September 20, 2021 by Guderian