Select foreigners can own 0.16 hectares (1 rai) for residential use in Thailand from September

[KhonKaenAde]

Good luck with this, sounds like a really expensive slab of mud!!

[Tug]

Ahhhhhh nope

[IamNoone88]

More nonsense. Again, gasping defeat from the jaws of victory. 

[Greg O]

What they fail to mention is that in January of this year the taxes for foreign owner business increased 100 percent but wait it gets worse. Used to be that the value of your Thai company was based on the underlying asset ( such as the land that your home is on) but that formula has changed and I was assessed the total value of the company ( land plus house plus bank balance ) so my effective taxes went up 250 percent compared to last year. I suspect their little 40 million baht minimum investment scheme will become the "cost basis" for tax purposes. Run Forrest run !

[Mr Meeseeks]

12 hours ago, kevc said:

Everything they talk about concerning foreigners is always down to how much money they can squeeze out of them, certainly makes you feel welcome and wanted.

Been like this since time immemorial. 

[crazykopite]

If I had that sort of money I wouldn’t be living in Thailand these people live in dreamworld it will,be interesting to know in September 2023 how many idiots parted with this amount of money in order to own a 1 rai plot of land I’d be surprised if it was even 1

[sambum]

"Basic requirements include a minimum investment of 40 million baht for at least three years in businesses in the kingdom"

 

That'll have them forming queues at the airport!

[kcpattaya]

14 hours ago, snoop1130 said:

foreigners who want to work from Thailand and specialists who want to work in the country

Huh?
Yet, another clear statement by this admin.
Confused.com

[moe666]

No thanks

[Foghorn]

And then after you build it the hillbilly Thais build a cow shed next door to live in with music blasting until the early morning and the authorities don’t give a <deleted> about it , dogs craping everywhere and your kids can’t go out the gate for being attacked and no one will buy off you 

[Surasak]

when no one takes up this wonderful offer, perhaps they will think all foreigners are stupid, or possibly their perception of us all rolling in money is not true????

[Mr Meeseeks]

6 hours ago, ukrules said:

So, it's absolute nonsense in every way that it's possible for something to be absolute nonsense.

As is almost everything they do or say here. 

 

3 hours ago, ikke1959 said:

Look at success of Elite visa..... this will be the same.. a few people maybe will do it, but not even 100.000 .... but as usual except, hope, think, etc.... and results are always far far behind 

The Elite visa is a boondoggle for government employees to be shuffled off quietly and receive their pensions. 

[Mr Meeseeks]

And the locals wonder why I still rent even though I am cashed up? ????

 

[Misterwhisper]

13 hours ago, 2 is 1 said:

So you have to have 1.1 million € and give up that for 3 years to get what!!!!!! 1 rai land. What kind house millionaire build in land size 1 rai!? Ok dont need cut grass coz dont have space for carden.

No. You actually have to have 1.1 million euros that you can comfortably risk investing in a shady local company or an even shadier "Infrastructure Fund", hoping for the best that it's still there after those 3 years.

 

But ON TOP of that you also will have to shell out the costs for purchasing the actual land, building the house on it, plus assorted associated expenses (land transfer fee / utility connection fees, which can be considerable if your house is out in the boonies / land tax / "super-duper elite visa" fees / lawyer fees / a number of "donations" stuffed in brown envelopes in order to speed the entire process along / etc.).

 

So all things considered I think you are looking at around 2.5 million euros if you want to have a half-decent house.  

 

But as a bonus for your generous commitment you also will receive a coupon for a free plate of pad thai. Or so I heard.  

[robertson468]

I would be interested to find out what the uptake is on scheme?  Not too many is my thoughts.  Maybe if they dropped the investment sum to £500,000 or 20,000,000 baht there might be a marked uptake.

[lopburi3]

12 hours ago, peterfranks said:

One Rai is plenty.

 

I have 1 Rai, built a 350 sqm house, 3 bedrooms and double car carport, a 11 x 6 meter swimming pool, 40 sqm maids quarters on it.

 

And guess what, I still have 800 sqm meter of lawn left. Far too much to maintain.

Yes it is about 5 times the middle class home plot in Bangkok (about 80 s/wah) but it is not much in country or outside Bangkok City.

[sanuk711]

44 minutes ago, sambum said:

That'll have them forming queues at the airport!

I hope not sambum----- because there is a bigger picture, this is not about you, or the other old age expats.

Take a look at your neighbors--have you been to sihanoukville--Cambodia?...... A lovely place when I first saw it-- it would be hell living there now.

That's Pattaya once you open the doors to unrestricted buying of Thailand's land. I would hate to see what a cute city like C.M would look like once the Chinese real estate moves in there.

 

 America---By 2019, the USDA says foreign ownership of U.S. acres exceeded 35.2 million acres, a 60 percent increase from the decade prior, mainly driven by Chinese buyers.

UK---For residential properties worth over £1 million mainland Chinese buyers accounted  13.4%. In 2019--

 

Real estate magazines are targeting 2 areas for future buyers - Australia--or --Thailand

"Where are Chinese property investors buying now?

Why Thailand and Australia are booming, from Regal Azzura in Queensland to Bangkok’s The Livin Ramkhamhaeng"

 

But its OK because if you live in China for a year--get a residence visa, then you can buy in shanghai-- and thats fair isn't it ? thats what most ex-pats are telling us on here anyway.

 

In 2021, the price for new residential property in Shanghai's inner ring --

Within one year, the house price increased by 5,000 yuan per square meter.

Property agency CBRE ranked Shanghai as the third most expensive housing market in the world.

Edited July 16, 2022 by sanuk711

[mania]

Quote

Select foreigners can own

AKA: Deaf,Dumb & Blind

[RafPinto]

13 hours ago, blackcab said:

 

No, a 40 million investment to obtain permission to buy up to 1 rai. You have to additionally pay market rates for the land.

 

1 rai in Bangkok in upper Sukhumvit will cost another 20-30 million. 1 rai on the centre of Bangkok up to 800 million.

Why I never meet a woman who's parents own such land?

I come always across the ones who maybe will inherit 2 rais of riceland somewhere in the middle of nowhere.

[ChrisKC]

This is a scheme loaded in favour of Thailand, not foreigners. 

 

So, thanks, but no thanks! 

[Dialemco]

Wow what an offer. 

[malthebluff]

I can see a lot of Chinese skyscrapers going up very tall houses. If I had 40 million baht to leave invest and never be able to touch I think I would look at other countries

[Excel]

30 minutes ago, lopburi3 said:

Yes it is about 5 times the middle class home plot in Bangkok (about 80 s/wah) but it is not much in country or outside Bangkok City.

I suspect the super wealthy won't  want to be living in the country nor will they be interested in building  a house on the land, purely purchasing as an investment even though the "stated intent" is for residential use. I Rai of land in central Bangkok will cost upwards of 140 million baht depending on location. Now ten years ago that plot would have cost 50% or less so on the assumption that value increase is linear, which I suspect is conservative, then in ten years time that 140 mill becomes 280 mill once sold. Not a bad investment for a  wealthy foreigner is it ? and don't forget no capital gains tax on land sales in Thailand.

[hotchilli]

15 hours ago, snoop1130 said:

Basic requirements include a minimum investment of 40 million baht for at least three years in businesses in the kingdom or in an Infrastructure Fund in accordance with the Trust for Transactions in Capital Market Act B.E. 2550 (2007).

Dreamers.

[newnative]

Total non-starter.

[hotchilli]

15 hours ago, peterfranks said:

As far as I'm aware, that has been the law for many years already.

 

So what has changed?

Certainly not the mind-set.

[Cake Monster]

14 hours ago, BKKTRAVELER said:

I am a bit confused with this new scheme. Do you have to invest at least 40 million baht for 3 years PRIOR to be eligible to buy up to 1 rai of land? Or do you have to invest at least 40 million baht in a land of max 1 rai and keep it for a minimum of 3 years?

why even bother to be confused ?

The Scam / Scheme is a no brainer.

[Iamfalang]

I want to be like a Native American.  I will give them EVERYTHING.

 

They will give me a map of where my 0.000001 Rai is....

 

I will walk to my paradise.    I'm sure it's in a great place.

[ujayujay]

40 Mio Baht????????????....dream on, little Dreamer.......

[Bday Prang]

I think many on here are looking at this the wrong way, I don't think they really expect it to pull in the crowds of wealthy expats

More likely   what they are saying is along the lines of    "We don't really want you to own land here but if you are prepared to prove how much money you have and also how gullible and stupid you are then we really have nothing to lose and plenty to gain. Can't fault them really, definitely an improvement on the UK's current immigration policy which welcomes destitute illegals who hate us