Easing of property laws for foreigners should not price Thais out of the market

[the green light]

this new law is still shady.. typical Thai laws. It leaves something for  its interpretation.

Need to read between the line here.

the reason behind it is influx of foreign currency to keep the value Baht high . 2 reasons

1. Tourism is down to almost zero.. and what ever $$ they collect is barely enough to pay the bribes.

2. many expensive condos are not selling

 

the reasoning is they attract people with a lot of money ( legally or illegibly collected) and dump in Thailand. The bank will have enough resources to justify keep the Baht high and at the same time increase the condo sales.  

 

Later the government can establish back the restriction. simple math. and back to normal

 

one obstacle: how to lure the rich people to put money in Thailand knowing that it could be a trick? unless $350k are just illegal money and care about it.

[3NUMBAS]

soyh of france beckons for wealthy expats  not a banana republic with a flip flop junta in control

[the green light]

one must understand the reason why most of foreigners want to live in Thailand :

 

1. retirees with cheap cost of living - foreigners have limited funds.

2. marry Thai wives and have children. - foreigners have limited funds.

3. work in Thailand for a company - still foreigner with limited funds.

 

One other reason would be short trip to enjoy the entertainment ,spend a lot of money on girls,  beaches and food. Very few things to do like sightseeing or museum. It does wear off after 2 month. There is nothing to do unless you have long term girlfriend.

 

The main attraction to Thailand is not beaches but foreigners are lured by the availability of Thai women who were rejected by Thai man. and the ability  to make a life with them. Some foreigners come an live in Thailand with them and others take them back to their home country.

 

One must wonder : If a rich foreigner who do not qualify to the points above.. what is the purpose to come to Thailand an ump  Baht10 million and buy condos. --I can't figure it out.

 

The right solution is  to improve the life  of the retiree and attract more regardless on how much money they have.

 

[WinterGael]

9 hours ago, ezzra said:

Thai people has this inherited phobia about being colonized and lose land and control to foreigners, this is deep seeded fears going back many generations, only now and out of desperation for capital injections they're reluctantly letting go but not for long i envisage...

You are wrong.  I'm from Canada, and foreign ownership of private land has been a disaster for Canadians and Canadian cities like Vancouver.  Allowing foreign ownership has brought about a huge jump in the cost of homes, such that many young people I know now have no interest in owning a mortgage prison (as one called it).  The rising prices of homes has led to increased wages such that many companies have thought twice about building in Vancouver where they cannot afford the wages.  This has led to smaller cities getting these companies,and then property values rise there, too.  It's a never ending circle.  Because of it, I lost everything when I lost my job.

 

This has enough problems without having to deal with this one, too.  Once the door is opened, it's hard to close or control.

[NeoDinosaw]

8 hours ago, tomacht8 said:

Don't worry, Dr Wichai. I always invest my money where I have 100% control over it. The returns from my apartment buildings in my home country provide enough money that I can live here very comfortably. I save myself all the stress of having to deal with the authorities here. From my own experience I can say that property in Thailand is more headache than joy. After 25 years in Thailand, I can safely say that my next big investments will definitely not be in Thailand. Have a nice day.

right !    I have a 1-bed appartment her in UK the income from which pays for my visits to Thailand for several months each year. It also appreciates in value each year !  win-win

[CloseShave]

4 hours ago, ThomasThBKK said:

lol just limit it to 10 rai for residential use only, problem solved.

10 rai sounds much but it really isn't, 16 000 sqm, basically something like a parcel of 200*80m for peace of land isn't much.

 

People buy anyway, ur stupid rules or not... no one cares.

 

Typically thailand, never wants to give anything in return, well have fun staying poor then.

 

The <deleted> he talks about voting rights and that foreigners shouldn't be allowed to control the bloody building they live in is everything that is wrong with this country in a nutshell.

 

If they can't compete with the likes of portugal or caribean island or cyprus or whatever in terms of visa/residency and real estate then no ones going to use this anyway and they can as well just spare them themselves the loss of face.

 

This 30 year lease alone is such a joke, 30 years are nothing for a house/land... even communist holes have 99 year leases.

I completely agree with you. Placing a limit on how much land a foreigner could buy makes total sense and is easy to control. Just have a stamp in the foreign buyers passport stating how much land they've purchased. 10 Rai is a reasonable limit and as you stated it's not that big at 16000 sq. meters. I have approximately 10 Rai so I know what it looks like and considering Thailand is a geographically large country then 10 rai isn't a big deal and I don't believe a limit of 10 rai where foreigners could purchase said land would drive up prices. If you want to become knowledgeable about land price manipulation just try dealing with a Thai seller. An experience that will leave you completely bewildered!

 

[ronemshoff]

Allowing foreigners to buy houses and land will for sure raise property values to the point that Thais will no longer be able to buy a home.  Just look what happened to New Zealand when they did the same thing about 10 years ago.  Rich Chinese came in by the bus load - on property real estate sponsored buying tours - some bought blocks of houses off the plans with little regard of price.  This alone drove the price out of reach of most New Zealanders. Now the average price of a house in Auckland is over a million NZD.  Before this change price was about $250K to 350K.

[jwbrit]

Sure,  invest in Thailand. Buy a house. Just be prepared if you're refused entry into the country during the next health crisis or coup d'etat. 

[zzaa09]

15 minutes ago, jwbrit said:

Sure,  invest in Thailand. Buy a house. Just be prepared if you're refused entry into the country during the next health crisis or coup d'etat. 

Or any other whimsical bug they might have up their backside.

[pedro01]

6 hours ago, Smithson said:

Charming. Well there's no shortage of former sex workers who have married and gone to live in the West. There's no questions about previous employment when applying for the visa. Some governments try to make life better for the people, while still having programs to attract investors. Speaking to Thais, they generally have a positive opinion of expats raising other people's children.

Correct - and guess what - governments in the West are NOT falling over themselves to have more of the same coming in.

 

You ever seen an ad in the West "Married a hooker overseas with no education other than O and A levels (wink, wink) - bring her to Thailand, so the state can pay for her and her kids after you die".

 

Yup - they are just falling over themselves for those immigrants in the UK - I can tell you. 

[metisdead]

Some troll posts have been removed.

[arick]

It won't because I have just contacted  the major news networks to inform them of the 500 million USD and more of losses of Foriegn investors and the dragging feet of the DSI. 

[Charlie Halliday]

Chinese are restricted to taking a maximum of USD50k per year out of the country. The capital controls in China will likely tighten even further as their economy is slowing. So what I'd love to know is where are these 1m people coming from. I'm here because I like it here and my wife is Thai. The pros and cons of living here beat the UK into a very distant second choice. Sure there are minor annoyances here, mostly red tape, but quality of life here is good if you've planned well finacially. It's a horrible place to be if you're a poor grubby farang. The reality is  there are a few 100 wealthy foreigners in Hong Kong and Singapore who may buy a 20 to 40m baht property but that's all. A million is laughable.. And the fact that the Govt has not even given a mention to the many foreign millionaires already living here indicates the whole concept is a scam. 

[arick]

Thailand I would never touch this place with a pence... 

[unblocktheplanet]

Dude looks like a used car salesman with itchy (& sweaty) palms.

[arick]

This country is just a bum cloth 

[bkkcanuck8]

1 minute ago, Charlie Halliday said:

Chinese are restricted to taking a maximum of USD50k per year out of the country. The capital controls in China will likely tighten even further as their economy is slowing. So what I'd love to know is where are these 1m people coming from. I'm here because I like it here and my wife is Thai. The pros and cons of living here beat the UK into a very distant second choice. Sure there are minor annoyances here, mostly red tape, but quality of life here is good if you've planned well finacially. It's a horrible place to be if you're a poor grubby farang. The reality is  there are a few 100 wealthy foreigners in Hong Kong and Singapore who may buy a 20 to 40m baht property but that's all. A million is laughable.. And the fact that the Govt has not even given a mention to the many foreign millionaires already living here indicates the whole concept is a scam. 

There are ways around that... buying an all inclusive vacation including funds to gamble at casino offshore like Singapore etc... pay the tour company the total price (large) --> corporation moves money offshore as part of business....  then go to casino and have ready laundered money. (basically).

[Keesters]

Many Thais cannot afford to buy property because rich Thais have already priced them out of the market. 

 

I've seen condo buildings where one Thai has bought (paid a nominal deposit on) a whole floor with the intention of reselling at a profit. This was pre 1997 and thankfully many of those who did this got severely burnt. 

Edited September 21, 2021 by Keesters

[Zatoichi]

FoH, no way. Just marry a decent Thai woman put the property in her name, later in your children's name. Buy whatever you want wherever you want. If you can't do that it's better to rent or live somewhere that doesn't treat you like a criminal for trying to buy land 

[Maha Sarakham]

This would be a disaster.  As much as I would like to have a land/house in my name, I can see beyond that benefit and realize it would entail millions of Chinese flooding the country to hide their money from the CCP.  Thailand would not be the same after that, it would change incredibly quickly, even more than it has already.

[garyk]

12 hours ago, mikebell said:

If I had ten million baht I wouldn't be be begging Thailand to let me in to buy a more expensive house than I need in an area not of my choice!  Why can't they see that the best investment is in retirees who live here permanently; adopt Thai children abandoned by their fathers; support the mothers/families and local companies all year round yet get treated as terrorists in every walk of Thai life.

 But you are still there, speaks volumes. 

[garyk]

4 minutes ago, Maha Sarakham said:

This would be a disaster.  As much as I would like to have a land/house in my name, I can see beyond that benefit and realize it would entail millions of Chinese flooding the country to hide their money from the CCP.  Thailand would not be the same after that, it would change incredibly quickly, even more than it has already.

Chinese already own Thailand!

[ericthai]

10 hours ago, Boarn said:

Thailand's sole purpose is to be an extremely cheap destination that offers everything cheaper than elsewhere. At least it was when I moved here, stop changing policies, it's getting frustrating. 

So you believe the only reason Thailand exists is to be a extremely cheap destination??

[NorthernRyland]

13 hours ago, ezzra said:

Thai people has this inherited phobia about being colonized and lose land and control to foreigners

yeah what a stupid phobia to have, not like that ever happens.... Meanwhile in the West USA is going to be majority non-white, i.e. just another Latin American country like Brazil in a couple decades and London is minority English.  

 

Queue the anti-white rhetoric now but the fact remains these things matter and Thailand would be foolish to follow the rest of the Western world on this insanity.

[JeffersLos]

 

Now here's a guy that cuts people off in his BMW. 

[ericthai]

6 hours ago, LongTimeLurker said:

"Easing of property laws for foreigners should not price Thais out of the market"

 

That would be up to the Thais wouldn't it?

 

As it will be Thais selling land or condo units in the 51%, then if other Thais are priced out of the market, it is because the Thais are asking more from Farangs than their fellow countrymen are willing to pay.

 

So don't blame foreigners for pricing Thais out of the market!

I dont see where it would be up to a Thai person, everything comes down to economics.

 

So you believe that a person selling their condo in a building where the other units that are sold to an expat for say 4 million baht you expect a seller to sell it for less than 4 million if sold to a Thai?? Is that what you are saying? 

 

do you work for the Thai government?

[The Cipher]

Quote

FoH, no way. Just marry a decent Thai woman put the property in her name, later in your children's name.

Some interesting financial advice here. Not sure what could possibly go wrong.

 

3 hours ago, arick said:

This country is just a bum cloth 

And do you uh, live on this bum cloth? And if so, why?

[kiwikeith]

15 hours ago, Willy333 said:

There’s so many things they can do to attract foreigners before easy property laws.

 

Rich foreigners don’t want to deal with:

-90 day reporting

-alcohol bans

-the government flip flopping every other day

-the government leaking personal information

-corrupt police

…

 

Now, if you want to attract Chinese investors that won’t live here and contribute to the local economy then yeah…

That's the idea it's called, Incognito 

[bristolgeoff]

They is a reason why thais can only own land,look at land or house prices else where.put the locals  out the market and rich  don,t have a issue of course.If you marry  then u have more rights about  land when u buy,but not own it outright.I think that protecting the thais in some issues in their country is right,others issues  not so

[Edwin Cameron]

Once again 'Farangs' aren't stupid,this is such a lame duck idea,it's not going to work,you might get a handful of penis brains that's all