Selling land to foreigners is not treasonous - it's economic sense: Prayuth

[tgw]

they just need to do the sensible thing:

 

Long term visa holders (1 year visa, permanent residents, etc.) should be able to buy up to 2 rai of land for residential purposes only.

If the owner has a work permit, he can domiciliate his company there.

The land then can only be sold to Thais or to other long term visa holders, as well as passed down to non-Thai heirs or to other non-Thai people by a court decision (for example divorce).

simple and easy.

 

[BusyB]

Yeah, right, pump up the GDP numbers with a real estate boom and claim to be mastering the Covid slump at the same time ... no ordinary Thai will benefit from this.

[thaibeachlovers]

5 hours ago, ThailandRyan said:

Folks have been saying g that since Nixon first opened up the US to them.  Must be a long con.....

Indeed, the Chinese play the long game.

[AussieinThaiJim]

4 hours ago, The Cipher said:

It's an interesting dilemma. Chinese capital - and foreign capital in general - has distorted residential real estate markets in various cities.

 

Speaking from the experience of my hometown in Vancouver, Canada - the influx of Asian money from the mid 1990s onwards has had mixed effects. On one hand, it did bring a ton of talent and capital to what had been a pretty sleepy city. It also created a class of new millionaires out of locals who benefited from capital appreciation through no skill or effort of their own - they just happened to own a hot asset before it got hot. Asian capital built Vancouver, best believe. (Don't @ me. It's true.) And in that way it's been a positive for the city.

 

However, a couple of decades on and prices have been bid up to the point where they are very detached from local incomes - particularly for properties with land. Housing is extremely expensive and is a struggle to afford, or completely out of reach, of a ton of the population. Particularly the younger generations. The result? Higher inequality, a feeling of disenfranchisement, and simmering social unrest. Big negative for the city and a very difficult problem to solve now that it's been created.

 

Wealth levels in Thailand are already low and inequality is high, so if prices do trend upwards with deregulation, major landholders are gonna do great but a lot of people will suffer from the resulting lack of affordability. Generally a bad idea.

Same in Australia but now Asians are a little cash strapped so we will see!

[Srikcir]

"stimulates the economy" just as it surely did for the town of Tutzing, Germany when in 2016 a well-known wealthy Thai whom Prayut surely emulates bought the Villa Stolberg. 

[LivinLOS]

5 hours ago, wprime said:

Well if Prayut supports it it might actually go through.

likely another indication hes on his way out.. 

[LivinLOS]

12 minutes ago, tgw said:

they just need to do the sensible thing:

 

Long term visa holders (1 year visa, permanent residents, etc.) should be able to buy up to 2 rai of land for residential purposes only.

If the owner has a work permit, he can domiciliate his company there.

The land then can only be sold to Thais or to other long term visa holders, as well as passed down to non-Thai heirs or to other non-Thai people by a court decision (for example divorce).

simple and easy.

 

which is why it wont happen.. 

 

Treason in Thai language is nation seller.. Draw your own conclusions. 

[bangkokbonecollector]

1 minute ago, thaibeachlovers said:

Indeed, the Chinese play the long game.

They have all read Sun Tzu back to front. China has this drip tactic, they do it with everything. My uncle lived in Honkers for a couple of decades and that is what he called it. They just drip drip drip drip and over decades it makes a hole and they get what they want. You can see this tactic playing out with the ban on British stamps being used for the Chagos Islands (See link below). This may seem obscure but really it is just one small step of many to one day getting a UN resolution that gives the islands to Mauritius and then they will let China built their military blue water navy bases on it just like the UK and US have now. Quite rightly the UK are just ignoring this nonsense.

 

https://www.bbc.co.uk/news/world-africa-58321580

[jippytum]

If it ever happens the hi so elite and the Chinese with special immigration conditions will  reap any benefits to the determent of long serving honest expats who have supported the local economy for decades.

 

[lolalol]

5 hours ago, spidermike007 said:

There are alot of strange people in this world who have a very bizarre notion of the definition of the word treason. I think alot of Thai people would agree that these guys are the last people in the world, who could be considered reasonable judges of what is good for the nation, and the Thai people. 

I read some of your comments.  You write well!  I'm sure you are read a lot!

[bangkokbonecollector]

5 hours ago, bkk6060 said:

They actually own a lot in the U.S.  California for example has millions of Chinese mostly who have come over the past 30 years buying homes, land and businesses.

 

I do not think it will ever happen in Thailand but I believe Prayuth is correct.  It will probably help stimulate the economy and create some appreciation in real estate which has been lacking for years.

If it is done the correct way and not what has been going on in Cambodia for the last two decades whereas thousands of Chinese are marrying Cambodian girls, usually as illegal second wives, then buying up all the land for their shabby developments or just for future land value investment. I strongly believe a foreigner should not be allowed to buy land in the traditional sense but I think within a marriage, especially one with children, a mixed married couple should be allowed to have both of their names on the land registry so that foreigners cannot get ripped off anymore. Whether that be from their 'wives' or from dodgy Thai/ Farang lawyers setting up the business and subsequent land ownership for them. It happens far too often and that needs to change.

[maddermax]

You can bet your bottom dollar that it won't be retrospective!

[sirineou]

I can understand why they might not want foreigners to own land because they might purchase all the land and crowd the locals out, But that can be easily avoided. They can place limitations on the amount of land a foreigner can own, and it can only be for the primary residence in Thailand.  

I am sure they can come up with some language that will limit ownership of land to that needed for a private residence. 

[Dogmatix]

4 hours ago, scubascuba3 said:

It certainly will stimulate the economy and enable Thais to make money from selling land. An easy win to further stimulate is to increase the condo foreign quota from 49%. Thais will be able to sell their empty thai quota condos

Just amend the Condo Act to allow foreigners to buy up to 100% of freehold condos but only the foreign owners of the first 49% of the usable space get to vote.  That way the freehold land of the condo remains technically controlled by Thais.  I am sure the Chinese are not interested in attending the condo AGMs anyway. 

 

Land is too emotional an issue for Thais and will make Prayut very unpopular in the election if he railroads it through  before then. Chinese should not be allowed to own land anyway because Thais are not allowed to own land in China. 

 

I think allowing longer than 30 year leases to be registered at the Land Dept is a solution that Thais could accept more readily. The law already allows 50 year leases for land for commercial purposes in certain areas but conditions are probably too onerouos for most.  Just allowing 50, 60 or maybe even 90 year leases for up to 1 rai land in housing estates will be good enough in my opinion.

 

Prayut is obviously listening to property developers who hope make fast bucks ripping off Chinese buyers.  Let's see what happens when he has to listen to the constant sniping of ordinary Thais who are all against this. Compromises might suddenly start looking likt a good idea. 

[chalawaan]

The British Chinese are coming!

 

Correct, and if you don't like it, then lobby your Government to give tax breaks to your citizens to buy up Thailand, it's very simple!

 

I will sell to ANYONE with the biggest wad, because if I don't, someone else equally white, will. 

 

For every Chinese that bought in UK Aus, NZ Canada, USA a white settler whose ancestors took it for free, sold it to a Chinese. 

 

I'm not very sympathetic to the privileged and historically whitewashed whining here, if enough of them start a buying frenzy, I may just make enough to get out of here, and buy in Portugal or Italy. 

 

Edited September 22, 2021 by chalawaan

[bangkokbonecollector]

16 minutes ago, jippytum said:

If it ever happens the hi so elite and the Chinese with special immigration conditions will  reap any benefits to the determent of long serving honest expats who have supported the local economy for decades.

 

Where is Rama 6 when you need him.

[Bebop77]

Really Who is going to buy in this third world country ?

It will not be a complete property. The next military coup, a General will choose to take back the foreigner s land.

This is way too insecure.

[chalawaan]

2 hours ago, The Cipher said:

The amount of xenophobia on this forum is simultaneously amusing, mind-boggling, and concerning.

 

Hanging around here, I've learned that 'The Chinese' are one of several board bogeymen along with others like 'The Hi-So' and 'The Generals' whose shady machinations are behind every dastardly plot.

 

But in seriousness, I just kind of assume it's how some older people try and make sense of a world that's rapidly changing around them. Even I'm having more difficulty wrapping my head around the world these days, so I'm not surprised that others struggle and then fall back on comfortable biases.

The website New Mandala run by an Australian National University thinktank is a good place to understand why the hi-so and generals are in fact legitimate bogeymen, but thanks for being one of the few voices of reason to post. 

[Airalee]

Allow foreigners to buy houses as a primary residence in Moo-bans on postage stamp size lots?  Have at it.  There is too much excess supply already.

 

Allow foreign corporate interests to buy up agricultural land and potentially end up relinquishing control of the nations food supply and subsequently having to buy your food from foreign companies?  No way…don’t do it.

[SCOTT FITZGERSLD]

1 hour ago, crazykopite said:

I’ve sold property in Thailand by way of company ownership and made a very nice profit when I sold it 7 years later on top of that I did not have to pay rent during that time and I was advised that the minimum rental I could expect was 80,000 baht per month I now have a beach front villa for sale at 25 million and even tho we are going through Covid I have already had several interested parties so unless your talking properties  out in the sticks on the islands there is money to be  made !

WHAT was you  % return on investment in USD within those 7 years?

than compare it to the same investment in your home country and see if it was

worth it

if you do live in thailand than it is a different story, but even than you might be

better off renting in thailand and buying in a stable free market country.

[chalawaan]

6 hours ago, The Cipher said:

It's an interesting dilemma. Chinese capital - and foreign capital in general - has distorted residential real estate markets in various cities.

 

Speaking from the experience of my hometown in Vancouver, Canada - the influx of Asian money from the mid 1990s onwards has had mixed effects. On one hand, it did bring a ton of talent and capital to what had been a pretty sleepy city. It also created a class of new millionaires out of locals who benefited from capital appreciation through no skill or effort of their own - they just happened to own a hot asset before it got hot. Asian capital built Vancouver, best believe. (Don't @ me. It's true.) And in that way it's been a positive for the city. 

 

However, a couple of decades on and prices have been bid up to the point where they are very detached from local incomes - particularly for properties with land. Housing is extremely expensive and is a struggle to afford, or completely out of reach, of a ton of the population. Particularly the younger generations. The result? Higher inequality, a feeling of disenfranchisement, and simmering social unrest. Big negative for the city and a very difficult problem to solve now that it's been created.

 

Wealth levels in Thailand are already low and inequality is high, so if prices do trend upwards with deregulation, major landholders are gonna do great but a lot of people will suffer from the resulting lack of affordability. Generally a bad idea.

I tend toward justice and a fair shake for all, but in this case?

Not my problem!

Besides, the Thais that don't already have property after 20 years of the largest boom in history for the world and Thailand, will never have it anyway at any price.

So I see two outcomes, Thai middle class prospering, driving up all prices, which will force thailand to modernize from the base up, or have a revolution, velvet or otherwise.

Both in the end will have better outcomes for Thailand than in developed countries.

Developed countries could solve the crisis with massive DECENT social housing, it's up to their citizens to demand it. Who could pay for it? The FAANGs of course. This trillionaire tax dodging by big tech, oil, tobacco, and religion is the problem. Not the Chinese.

 

What gets me about right wing voters from Buriram to Boston, is they allow their handlers, the people they vote for, to point to foreigners and say "There is your enemy!" While the handlers and the fat cats form a cosy cabal that cuts away at the social safety nets their grandfathers fought two world wars and countless union and industrial battles to bring into being. Talk about turkeys voting for Christmas!

Of course Thais never had a social contract to ruin, but the same tactics keep them down on the farm.

Edited September 22, 2021 by chalawaan

[p414]

You have only to look at what happened in England by allowing foreigners to own land and houses...Now no average working man can afford to even get on the housing ladder...Even The Bishops Avenue which was the most sought after address in London is now filled with empty houses belonging to specula

tors or people hiding money...

[Tropposurfer]

6 hours ago, TooMuchTime said:

Everything will be owned by China.

Or USA, Saudi mega oil conglomerates, Bayer, Monsanto, Tata, BP, Unilever, Gasprom, and other individual multi-nation oligarch's.

[Tonypandy]

7 hours ago, ThailandRyan said:

The plan that keeps on giving and giving, and then not giving, and is as said a hot potato.  They want the country to prosper but at the same time do not want to be seen as causing an economic disservice to the people who then get priced out.  Before anything like this occurs there needs to be a true real-estate board and appraisers who are certified.  Thailands current prices for property is for what the market will bear and what folks think personally that their properties are worth. No wonder so uch sits on the market unsold and vacant for years, and on the banks books and not as underperforming loans. 

Yes, its time for regulation in the real estate sector, but I can't see that happening any time soon. 

[bananafish]

Don't do it, don't allow foreigners to buy you out from under your own country. 

[natway09]

Scenario,,,,,,,,,the oldest Son on the farm will see a bag full of money, take it, spend it 

& then the two younger sisters & one younger brother will have no where to even live 

creating more homeless.

I have seen this even here now where a huge corporate potato & bannana growing syndicate

took over 8 small farmlets, demolished the small subsistance homes & left them basically penniless & homeless,  because the 8 boys drive new pickups & never thought to buy another farm.

Thailand is not ready for this of if they do must have some incredible checks & balances in place

& even then can the administration control it fairly

[stigar]

20 minutes ago, natway09 said:

Scenario,,,,,,,,,the oldest Son on the farm will see a bag full of money, take it, spend it 

& then the two younger sisters & one younger brother will have no where to even live 

creating more homeless.

I have seen this even here now where a huge corporate potato & bannana growing syndicate

took over 8 small farmlets, demolished the small subsistance homes & left them basically penniless & homeless,  because the 8 boys drive new pickups & never thought to buy another farm.

Thailand is not ready for this of if they do must have some incredible checks & balances in place

& even then can the administration control it fairly

After 6 months the bank take the cars.Or the finance company.In my former home is surin they picked up cars almost everyday.

[Sydebolle]

Energy minister Supatanapong Phanmeechao's comments reflect the general Thai position towards everything and anything concerning the dirty farang. It is people like him who are tantamount to the ongoing farang bashing and all this has absolutely nothing to do with treason. 

Why does this little <deleted> not focus on his main job and ensure uninterrupted power supply to all households? Proper management of energy resources spring to mind, i.e. educating the public on TV and in ads on how to use/handle/save energy? Why not getting the power wasters (shopping centres with open doors 24/12) to pay more than the average Joe. How about pushing for duty free import of solar panels into a country with 300 sunshine days and promote this with MUCH less bureaucratic paper avalanches in selling such power to the MEA/PEA?

Maybe best would be to retire such pristine examples of ministers; Thailand could, should and must do better than getting "advice" from such lost souls ........ me thinks! 

[moe666]

7 hours ago, seajae said:

but is it only going to be sold to the rich or can those of us with thai wives/partners own the land we live on as well, just allowing "rich" non thias to own land is absolute BS as it will be bought purely to make a profit on, those of us living on the land we already own with our partners are committed to the long term and to Thailand, profits dont come into it, it is owning our own homes/land for our future and that of our thai families

 

If you own the land with your Thai wife then the future is secured she has title to the land

[moe666]

42 minutes ago, natway09 said:

Scenario,,,,,,,,,the oldest Son on the farm will see a bag full of money, take it, spend it 

& then the two younger sisters & one younger brother will have no where to even live 

creating more homeless.

I have seen this even here now where a huge corporate potato & bannana growing syndicate

took over 8 small farmlets, demolished the small subsistance homes & left them basically penniless & homeless,  because the 8 boys drive new pickups & never thought to buy another farm.

Thailand is not ready for this of if they do must have some incredible checks & balances in place

& even then can the administration control it fairly

Whats this got to dowith selling land to a foreign, you cannot control human nature.