Thai government defends foreign land ownership plan

[webfact]

 

The government’s plan to allow foreigners to own a limited amount of land in Thailand is intended to benefit the Thai people and the government is not “selling off” the country to foreigners, as alleged by some, said Deputy Government Spokesperson Tipanan Sirichana on Sunday.

 

Responding to the Pheu Thai Party’s strong opposition to the plan, she explained that only four specific groups of foreigners, who have already obtained long-term resident visas and who meet the requirements, will be allowed to own up to 0.16 hectares (one rai) of land for residential purposes.

 

The four groups are:

 

1. Wealthy global citizens who each have assets worth at least one million US dollars, an annual income of at least at US$80,000 for the past two years and who have invested a minimum of US$500,000 in Thailand.

 

2. Wealthy pensioners who are over 50-years-old who each have assets of one million US dollars, an annual income of US$80,000 or who have a minimum income of US$40,000 a year and have invested at least US$250,000 in Thailand.

 

Full story: https://www.thaipbsworld.com/thai-government-defends-foreign-land-ownership-plan/

 

-- © Copyright Thai PBS 2022-10-31

 

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[webfact]

Pheu Thai Party opposes land ownership by foreigners

 

 

The opposition Pheu Thai Party voiced its strong opposition today (Saturday) to the government’s plan to allow certain foreigners to buy up to 0.16 hectares (one rai) of land for residential purposes, hoping that the scheme will  boost foreign investment and spur the economy.

 

In its statement, the Pheu Thai Party warned that the foreign ownership of land will have extensive implications for the Thai people, at a time when many do not have a house or a piece of land of their own.

 

In the future, the party said that Thai people will have to pay more to buy land, because this policy of allowing foreigners to buy land in Thailand will lead to speculation.

 

On Tuesday, the cabinet approved an edict from the Interior Ministry, allowing certain qualified foreigners to buy up to 0.16 hectares in Bangkok, Pattaya and other municipalities and areas specified by law. The edict will be reviewed in five years.

 

Full story: https://www.thaipbsworld.com/pheu-thai-party-opposes-land-ownership-by-foreigners/

 

-- © Copyright Thai PBS 2022-10-31

 

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[Thechook]

How many Pheu Thai party members own land abroad?

[webfact]

Prayut Supporter Pareena Against Allowing Foreigners To Own Land
by TNR Staff Comment

 

Former MP Pareena Kraikupt hugging Prime Minister Prayut Chan-o-cha in above photo, and right in Front Page photo with Gen. Prayut at left. Top photo: Matichon Weekly

 

JOINING THE chorus of criticism on the government having approved in principle the drafting of a ministerial regulation allowing foreigners to buy maximum one rai of land for residential purposes conditional on investing at least 40 million baht for minimum three years is Prime Minister Prayut Chan-o-cha’s staunch supporter Pareena Kraikupt, Naewna newspaper said Saturday (Oct. 29).

 

Pareena. who was earlier this year deprived by court of her MP status and banned for life from politics due to deliberate encroachment upon a forest reserve in Ratchaburi, posted a message saying that people do not want to exchange land in Thailand for foreign investment.

 

“Sacrifice money to spur the economy, sacrifice even life to protect land in Thailand for our children and grandchildren similar to what our ancestors did,” she wrote.

 

“In the future even though our children live in Thailand, it is in terms of… renting… with the village group headmen and the village headmen being foreigners. 

 

Full story: https://thainewsroom.com/2022/10/29/prayut-supporter-pareena-against-allowing-foreigners-to-own-land/

 

-- © Copyright  THAI NEWSROOM 2022-10-31

 

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[bkk6060]

If they wanted a major economic boom and greatly increased property appreciation,  they would open it to everyone with no restrictions.

[2baht]

The real xenophobes are now showing their true colors! Careful, we'll buy the entire country from under your feet! ????

[sikishrory]

I remember there was a similar (masters degree) qualification required for the thai working holiday visa. I don't remember the exact wording.

A chef qualification from tafe sufficed for that. 

Wonder if i could pull that off again.

Thais don't know what TAFE is.

[poyai111]

Speculation! Capitalism rears its ugly head. This is the realm of hiso class only. The impoverished must endure forever the restrictions of covert socialism

[2baht]

19 minutes ago, sikishrory said:

Thais don't know what TAFE is.

Take A Fish, Eat it!

[Enoon]

6 minutes ago, poyai111 said:

Speculation! Capitalism rears its ugly head. This is the realm of hiso class only. The impoverished must endure forever the restrictions of covert socialism

Member since 2014 and you still haven't worked it out?

 

You obviously have difficulty distinguishing Left from Right.

 

 

[RichardColeman]

3 hours ago, webfact said:

1. Wealthy global citizens who each have assets worth at least one million US dollars, an annual income of at least at US$80,000 for the past two years and who have invested a minimum of US$500,000 in Thailand.

1. Wealthy global citizens who each have assets worth at least one million US dollars - Ah.

2. an annual income of at least at US$80,000 - Oh

3. and who have invested a minimum of US$500,000 in Thailand. - Nevermind 

 

[smutcakes]

There will be so much complexity and red tape to these regulations that very few will actually bother to jump through the hoops.  I think in some quarters they are very worried about the Chinese and to a certain extent the Indians finding loop holes and unscrupulous officials to take advantage of this. I dont believe they are overly concerned by a few retired westerners buying a piece of land in Nakhon nowhere as on the overall scale the numbers would be low.

 

I do find myself shaking my head a little when i read these very wealthy landowners and Thai hi so's who are complaining about it and pretending their concern is for the poor.... This while they skim off money all over the place and own houses and land all over the world...

[2baht]

21 minutes ago, RichardColeman said:

1. Wealthy global citizens who each have assets worth at least one million US dollars - Ah.

2. an annual income of at least at US$80,000 - Oh

3. and who have invested a minimum of US$500,000 in Thailand. - Nevermind 

 

.....and when we've bought Thailand, we'll send the natives to live in Laos! Quick, build those bridges, there'll be 68 million repatriations!

[nobodysfriend]

4 hours ago, webfact said:

Thailand is intended to benefit the Thai people and the government is not “selling off” the country to foreigners,

Good to know ... but Thailand is still xenophobic . In , for example , France , Thais can buy and own just a as a french person .

Never heard anyone ( french ) complain about this .

Open - minded society against narrow minded society ...

[Robert Tyrrell]

Good Morning,

 

What a Big joke !! For 1 Rai of land !! 

Im American ???????? And Thai Nationals can freely buy as much land as they want ???? That’s why they call it The Land of the Free !! Sounds a little xenophobic Thailand when you say we are not selling Thailand off to Foreigners !! 
Apparently your ok allowing Chinese Government  to infiltrate Thailand, Be careful with that or soon you will be fully owned by the Chinese Government !! 

Edited October 31, 2022 by Robert Tyrrell

[BumGun]

16 minutes ago, smutcakes said:

 I think in some quarters they are very worried about the Chinese and to a certain extent the Indians finding loop holes and unscrupulous officials to take advantage of this.

 

There is already the company route. Not really a loop hole as grey, as it wasn't designed for that but many do anyway. So it cant be for that reason, as many do already, there are plenty in here alone.

 

My speculation (worth 1/2 a tuppence)  is its a slippery slope thing, introduce it, show the xenophobes that not many people will to do it anyway with those onerous rules ( aside from the truly dedicated, especially with difficulties in getting residency.  Eventually they will  then relax the rules a little (!?) so the rich can sell development blocks to wealthy foreigners.  I also don't understand why they use USD and not THB but that's a separate issue.

[wombat]

26 minutes ago, smutcakes said:

 finding loop holes and unscrupulous officials to take advantage of this. 

I can't think of better encouragement to put it in your TG's name.

No drama...what could possibly go wrong....you're both in love.

[smutcakes]

2 minutes ago, BumGun said:

There is already the company route. Not really a loop hole as grey, as it wasn't designed for that but many do anyway. So it cant be for that reason, as many do already, there are plenty in here alone.

 

My speculation (worth 1/2 a tuppence)  is its a slippery slope thing, introduce it, show the xenophobes that not many people will to do it anyway with those onerous rules ( aside from the truly dedicated, especially with difficulties in getting residency.  Eventually they will  then relax the rules a little (!?) so the rich can sell development blocks to wealthy foreigners.  I also don't understand why they use USD and not THB but that's a separate issue.

Possibly. I think generally they dont pull up the company route as the ship has somewhat sailed on it. I think even the company route its mostly small scale, low investment individuals not in prime desirable locations (for the most part).

 

I think if it started being used by large conglomerates to buy land it would be looked at quickly. In fact i think most large conglomerates are not going to try that route anyway due to the inherent risk with it, questionable legality and their lawyers for the most part would advise against it.  Of course you would get the odd risk adverse one who would go down that route, probably Chinese who would set up a questionable JV with local people, but i think its fairly rare.

[Purdey]

Land speculation will drive prices up and there will be more complaints from the poor that they will never be able to afford land. Yet many dream of selling their land for exorbitant prices. 

However, Thais buy land abroad and take the rent money. No one complains.

Reciprocation would be preferable. Governments should have negotiations with countries like Thailand to reach mutual agreements that each allow land at market prices to be owned by retirees who intend to live permanently in each others' countries.

Whenever I have met Thais (not often) owning land abroad, they give the feeling that foreigners are idiots for allowing them to own land. 

[khunjeff]

I guess Pareena thinks that if foreigners want land, they should just do like the local ruling class and take it from national parks? 

[smutcakes]

5 minutes ago, Purdey said:

Land speculation will drive prices up and there will be more complaints from the poor that they will never be able to afford land. Yet many dream of selling their land for exorbitant prices. 

However, Thais buy land abroad and take the rent money. No one complains.

Reciprocation would be preferable. Governments should have negotiations with countries like Thailand to reach mutual agreements that each allow land at market prices to be owned by retirees who intend to live permanently in each others' countries.

Whenever I have met Thais (not often) owning land abroad, they give the feeling that foreigners are idiots for allowing them to own land. 

Obviously many of the large Thai conglomerates behind the scenes push against foreign ownership. Not because they are worried about land prices for the poor, but because it becomes a problem for their monopolies.

 

Groups like Frasers (TCC), Central, CP, Singha all have close to zero competition in some of their business units due to land ownership restrictions preventing foreign competition entering the market or at least at a level which would allow them to be competitive- all on the pretense that Thais are not ready to compete and the need to protect the land for the poor...- whilst on the other hand Central just bought Selfridges (among other assets) Frasers have land and buildings all over the world, Singha recently bought a European hotel chain....

[ttrd]

3 hours ago, bkk6060 said:

If they wanted a major economic boom and greatly increased property appreciation,  they would open it to everyone with no restrictions.

Yes, but they don't - the Thai Elite want to keep their condominium prices artificially high...

Edited October 31, 2022 by ttrd

[Elkski]

To many hoops, can't imagine many takers.  

Are they so desperate?  

If it sounds like a greedy set of rules it is probably a greedy rule maker

[nobodysfriend]

LTR does not work as intended anyway .

Ridiculous restrictions ... and only in specified areas , up to 1 rai ...

Sometimes I think some law making members of the government should get their heads off the clouds and become a little more realistic ... LTR is bound for failure .

[nobodysfriend]

5 hours ago, webfact said:

Pheu Thai Party warned that the foreign ownership of land will have extensive implications for the Thai people,

Pheu Thai Party ... no comment . They should read the text and the limitations to foreign ownership as proposed by the government first ...

Ridicolous .

 

4 hours ago, webfact said:

Pareena. who was earlier this year deprived by court of her MP status and banned for life from politics due to deliberate encroachment upon a forest reserve in Ratchaburi, posted a message saying that people do not want to exchange land in Thailand for foreign investment.

Wow , she should better keep her mouth closed . Convicted of encroachment herself , she has proven to be a greedy person who does not respect the law .

[Reigntax]

58 minutes ago, Robert Tyrrell said:

Good Morning,

 

What a Big joke !! For 1 Rai of land !! 

Im American ???????? And Thai Nationals can freely buy as much land as they want ???? That’s why they call it The Land of the Free !! Sounds a little xenophobic Thailand when you say we are not selling Thailand off to Foreigners !! 
Apparently your ok allowing Chinese Government  to infiltrate Thailand, Be careful with that or soon you will be fully owned by the Chinese Government !! 

The leaders are already owned and controlled

[Boomer6969]

The simple fact that this can be an issue expose the degree of xenophobia in this country.

[NorthernRyland]

5 hours ago, webfact said:

In the future, the party said that Thai people will have to pay more to buy land, because this policy of allowing foreigners to buy land in Thailand will lead to speculation.

Land speculation is already rampant in Thailand. I see it all the time. "Investor" buys land while it's cheap, splits it up into smaller plots and then raises the price 2x. Adds no value to the economy and makes life difficult for poor and middle class people. Why don't they just make this illegal first and foremost?

[newnative]

      This is so laughable.   One political party has proposed this land policy and another political party has decided it can make a big political issue out of it--and win lots of votes.  Likely true.  The fact that very few people will actually take advantage of this ridiculous one rai land policy with far too many very expensive strings attached to it is beside the point--that will all get lost in the shouting back and forth.  The typical Thai voter will not know or care about all the deal-breaker, onerous details of the policy or that it only allows one rai per person.  Rather, it will end up being boiled down to this political party wants to sell Thailand to foreigners while that political party is against it.  A lot of fighting over something really so unimportant.

[mikeymike100]

4 hours ago, bkk6060 said:

If they wanted a major economic boom and greatly increased property appreciation,  they would open it to everyone with no restrictions.

Fair point, but then the Chinese would take over? ????