Thai government defends foreign land ownership plan

[NorthernRyland]

1 hour ago, Robert Tyrrell said:

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 !! 

Americans should learn a lesson from this (I sure have). In "my" country there are entire areas I can't go to unless I speak Spanish or prefer their particular culture (even if I was welcomed which is debatable). Often times the cheaper areas outside of towns are now occupied by foreign cultures and kids have no cheap alternative to move out of their parents house. All of America is totally ghettoized like this now and it's one of the reasons I like to live in Thailand.

 

Here's a racial dot map of Chicago. This is how Thailand will look if they really opened the floodgates:

 

 

Thai's have it even better. They can come into America, buy houses, speculate on land and then go back to their home country and discriminate against Americans and not have to worry about the American following them back and doing the same here. How is this good for Americans?

 

So honestly they're right to limit foreign land ownership but our countries need to do the same to them. Maybe then we can come together and have some agreement to allowing land ownership but under some strict and equitable rules.

[NorthernRyland]

10 minutes ago, newnative said:

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

As mentioned this may be to attract property developers from China or India etc... One rai is enough to build a large condo or small housing project. Property developers will absolutely have 40MB to get involved on this scheme and many Chinese are trying to move capital out of China now.

 

IMO housing projects are really turning Chiang Mai into an American style s*hole with nothing but busy roads connected to cookie cutter housing projects and it's even worse because the houses have basically no lawn and are crammed together. If Chinese get involved in this it's going to get much worse.

[scorecard]

2 hours 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 

 

So an obvious question:

 

How many foreigners qualify and per the above 3 factors, and then even more to the point, want to take part in such a scheme?

 

Seems to me a very very small number of foreigners will be interested. 

 

And has it be published in the Royal Gazette?

 

Move on...

Edited October 31, 2022 by scorecard

[rwill]

But she thinks Thai's using government land illegally is ok.

[scorecard]

1 hour 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.

I suspect (as you seem to) wealthy ruthless property developers are in the background.

[Gknrd]

Wish they would do the same in the US, I have a Thai family living across from me that is dragging down the property value by thousands of dollars.. ugggg

[thaijett]

2 hours ago, nobodysfriend said:

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 ...

How many dirt poor, subsistence farmers, with no social security support are there in France ?

[johncat1]

1 hour ago, wombat said:

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.

You could lose everything both ways. If your TG doesn't screw you (  financialy that is ) , the government could screw you. Better to buy a house outside of Thailand and just visit. It would certainly be cheaper and less risky. 

[sansaihashbars]

They need to change the headline. Thai government defends foreign land ownership for rich people.

[Khun Loong]

2 hours ago, smutcakes said:

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...

Exactly.

[LukKrueng]

2 hours ago, nobodysfriend said:

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 ...

On the other side - French people can just buy a ticket and show up in Thailand and through playing the system stay here practically forever while Thai people have to jump through many hoops and pay a lot of money just to be granted a short term visa 

[wwest5829]

Thailand certainly not alone in this debate. I recall facing the same in the Czech Republic. The Czechs felt like after the Wall fell and they once again could determine their own fate, that the German money would overpower Czech ownership of land. In the US, I recall the reaction in business when the Japanese car manufacturers moved in … and now the Chinese companies are seen as the big threat. Thais are not the only ones to get caught up in ethnocentric thinking. As a student of US history … mixed thoughts as my forebears came into the British colonies and bought up land from the Lenni Lenape.

[zeekgarcia]

6 hours ago, Thechook said:

How many Pheu Thai party members own land abroad?

If they do, someone should publish a list of each property they own abroad and the value of each, since they are public officials. 

Also a list of how many of them have permanent residence or the citizenship of another country. 

 

[khunpa]

No matter how much money they want in these various schemes, the problem will always be the practical side of it. 
 

A lot of papers to be signed in Thai language, not to mention all the stamping and waiting at different offices. Of course you can get a so-called Thai-lawyer to assist you, who will charge outrageous fees for it and in many cases can not be trusted at all. How many times have we not seen lawyers and officials cheat and steal with no consequences?

Then of course you have the legal side of it, which will be interpreted different based on who deals with it and which location you are at. Here it is very easy to think you did it legally correct and then later find out you actually broke the law and will face problems. Not to forget, they can just change the rules as they go along.

 

Nobody with hard-earned LEGALLY made money and in their right mind would make a huge personal investment in Thailand. It’s just way to risky and you can easily live well here with making such investment.

 

These schemes will however attract those who needs to hide some money and see this as low risk compared to their other options. 

I am sure there are especially some Chinese, Russians and Indians etc. who could see the benefit of placing some of their cash here.

 

Edited October 31, 2022 by khunpa

[hotchilli]

7 hours ago, webfact said:

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

Hardly selling off the country.. to be honest I don't see many people buying into this at all.

Edited October 31, 2022 by hotchilli

[newnative]

1 hour ago, NorthernRyland said:

As mentioned this may be to attract property developers from China or India etc... One rai is enough to build a large condo or small housing project. Property developers will absolutely have 40MB to get involved on this scheme and many Chinese are trying to move capital out of China now.

 

IMO housing projects are really turning Chiang Mai into an American style s*hole with nothing but busy roads connected to cookie cutter housing projects and it's even worse because the houses have basically no lawn and are crammed together. If Chinese get involved in this it's going to get much worse.

    Perhaps, but I think foreign property developers are already here.  The housing project where I live has recently been bought out by a Chinese developer who has started to build new houses on the remaining undeveloped land in the project.  At one of the condos I lived at, a hotel was built next door by developers from India.  I suppose they both have some paper Thai partners in the background somewhere.  I think with all the restrictions, especially in land size and restricted, specified locations, foreign developers will continue to use other means.  But, we'll see.

[NorthernRyland]

1 minute ago, newnative said:

Perhaps, but I think foreign property developers are already here.  The housing project where I live has recently been bought out by a Chinese developer who has started to build new houses on the remaining undeveloped land in the project.

Yeah I know of a project from Chinese around where I am also. They even put up Chinese language signs and it's clearly occupied territory now. Not a good vibe. My guess is that they want more of this though. 100% they are planning to sell out of the country.

[zeekgarcia]

1 hour ago, NorthernRyland said:

Americans should learn a lesson from this (I sure have). In "my" country there are entire areas I can't go to unless I speak Spanish or prefer their particular culture (even if I was welcomed which is debatable). Often times the cheaper areas outside of towns are now occupied by foreign cultures and kids have no cheap alternative to move out of their parents house. All of America is totally ghettoized like this now and it's one of the reasons I like to live in Thailand.

 

Here's a racial dot map of Chicago. This is how Thailand will look if they really opened the floodgates:

 

 

Thai's have it even better. They can come into America, buy houses, speculate on land and then go back to their home country and discriminate against Americans and not have to worry about the American following them back and doing the same here. How is this good for Americans?

 

So honestly they're right to limit foreign land ownership but our countries need to do the same to them. Maybe then we can come together and have some agreement to allowing land ownership but under some strict and equitable rules.

Countries should starting mirroring each other policies in regards to permanent residence or citizenship, buying land or a house or starting a business or working.

 

For example, since you are talking about the US, the US should use the same policies that Thailand uses for US citizens in regards to Thai people wanting to get permanent residence or citizenship in the US or wanting to buy land or a house or wanting to start a business, etc in the US.  

Edited October 31, 2022 by zeekgarcia

[hotchilli]

7 hours ago, webfact said:

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.

High hopes... foreigners to save the economy.

[Raphael Hythlodaeus]

2 hours 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. 

I used to agree with you, but now I don't and nor does my Thai family. In my view reciprocity does not apply when the GDP per person is much lower here than in more developed countries. But even then, look at the ridiculously high house prices in say London which have crowded out the locals. I would be concerned about the Chinese buying up property here, as they have done for condos which I think has contributed to the high condo prices these days.

[NorthernRyland]

1 hour ago, Gknrd said:

Wish they would do the same in the US, I have a Thai family living across from me that is dragging down the property value by thousands of dollars.. ugggg

LOL. seriously what are they doing? Burning leaves and sitting outside playing loud karaoke perhaps?

[NorthernRyland]

 

6 minutes ago, Raphael Hythlodaeus said:

I used to agree with you, but now I don't and nor does my Thai family. In my view reciprocity does not apply when the GDP per person is much lower here than in more developed countries.

That sounds like communist nonsense to me. No reciprocity between people with wealth disparities means the high and middle is dragged down the level of the bottom. When you go shopping do you adjust the prices to match the annual wage of the employee selling to you?

[shackleton]

Just read the Financial requirements if not a millionaire don't bother applying 

So that's me out 

Will now depend on winning the Lotto same  as the other 99.% of the Farangs  living here or wanting to retire here  ????

[rocksniffer]

The first time that I saw this discussed was in 1982. So don't hold your breath. Something that never gets mentioned. In the Vietnam War Era Americans could own land in Thailand in their own name. No special requirements, except to be American. I am not sure what year that was stopped. 

[hansnl]

Like all government tourist plans this plan is geared to the "well healed".

I guess many Chinese will "invest".

[Gknrd]

59 minutes ago, NorthernRyland said:

LOL. seriously what are they doing? Burning leaves and sitting outside playing loud karaoke perhaps?

You would not believe it if I told you, but you are not to far off..

[Raphael Hythlodaeus]

58 minutes ago, NorthernRyland said:

 

That sounds like communist nonsense to me. No reciprocity between people with wealth disparities means the high and middle is dragged down the level of the bottom. When you go shopping do you adjust the prices to match the annual wage of the employee selling to you?

It may sound like "communist nonsense" to you, but I much prefer the nationalistic Thailand to the woke WEF globalist West. There you do have a socialist catastrophe and I despair over my own home country which I left decades ago. I don't agree with your shopping analogy within a country, when we are talking about different countries.

[Foghorn]

5 hours ago, 2baht said:

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

China said it ain’t for sale, they want to keep hold of thailand 

[SymS]

I watched Thai news (Investment Minutes) about the topic. The analyst said foreigners who invest in the 40 million Baht plan would not compete with locals in the 5 to 10 million Baht houses, and likely buying property worth 20 million and more. Since they have a 10-year long term visa, they'd spend at least one million per year, so the expectation is that such foreigners would bring at least 70 million Bath each.

Since nobody in their right mind would invest over 50% of their assets in Thailand with a temporary visa, they are probably looking at people with 4 million dollars and up in assets. I don't see many takers...

[Cake Monster]

There is not really too much to defend.

This latest attempt to lure wealthy Foreigners to the shores of Thailand will be a no brainer to those that have this kind of Money.