Foreign land ownership proposal can be canceled if Thai people don’t agree says the Minister of the Interior

[Boomer6969]

4 hours ago, spetersen said:

Where are the intelligent Thai people that can make a difference ?

Is this a deliberate oxymoron?

[Muzzique]

Sounds like an amazing investment opportunity.

 

Alongside

Sand to Saudi Arabia

Coals to Newcastle

Pork Pies to Tel Aviv

And Fridges for Eskimos

 

We're do I sign up 

 

 

 

[Tropposurfer]

I get wanting to protect the nation from being bought out from under the People (and the shark developers who sink their insane grifting wealth into endless scam condo development etc.).

What I don't get it ... (well, I sort of do i.e. xenophobes and elite, greedy selfish idiots) is why can't nations with strict ownership laws and attitudes towards land ownership like LOS by non-natives have simple and functional laws (yeah, yeah I know this seems an oxymoron here lol ????) to contain said ownerships and promote more foreign currency entering and being invested here. Of course that is far too simplistic and sane a notion to be actualised it seems.

 

Examples:

• Single individual buyers only.
• All individuals submit to both internal and international ID, criminal checks etc.
• No company or collective entities allowed.
• A ceiling on numbers of properties and total rai quantity to be set ... not this ridiculous tiny amount touted in the current proposal, nor commercial amounts or properties such as whole condo buildings. 
• Set a reasonable baseline of investment e.g. minimum house 6 million baht (an example for the purposes of discussion only).
• I think the idea of setting a high figure like 50 million + is, like so much of this topics handling by the authorities, ... silly to put it mildly.
• Limit the ownership to 99 years allowing as part of this 99 years the gifting of the property to once again an individual for the balance of the 99 years
• All buyers ONLY in their own, confirmed name.
• If gifted to a Thai then the standard Thai laws of land and dwelling ownership apply.
• Place caveats into contracting e.g. if the falang is convicted of serious crime e.g. serious fraud, drug trafficking, child or other sex offences, murder they can have their properties seized and returned to the state.
• Produce a valid passport and appropriate visa and sufficient money to be able to maintain the property and fend for oneself e.g. health coverage for rest-of-life, vehicle and property insurance, funds as surety as is the case now with the 800K for retiree's.
• All land sales registered and managed in a state of the art National database that can be checked by officials, land offices etc.

Edited November 4, 2022 by Tropposurfer

[Dutchjohn]

They already decided to cancel the proposal. But, to keep their face, they let the people decide.

[mjakob007]

7 hours ago, webfact said:

Anupng said that the government might change some rules

It appears we have to hire Deloitte to conduct 'due diligence' on this investment proposal of a lifetime...... Not!

[hotchilli]

7 hours ago, webfact said:

Anupng said that the government might change some rules such as increasing investment to 100 million baht or the period to invest to be allowed to purchase land from three years to ten years. If people still do not agree, the law can be cancelled entirely.

Why not just give it up...

[hotchilli]

7 hours ago, webfact said:

The Minister of the Interior says a proposal for foreigner land sales is ready to be cancelled if the Thai people don’t agree.

So it's going to a public free vote?

Thought not...

[bang saen guy]

A solution might be to drop foreign ownership of land in Thailand if all Thais owning property of land abroad agree to relinquish ownership of it. Fair enough

[CLW]

I think Thai people generally feeling the influx of the wealthy 1%, that make land prices more expensive by speculation. Not actually buying the land for some purpose other than tax evasion and money laundering.

It has nothing to do with a handful of foreigners wanting to own a small piece of land for their own designed home.

If the government really would be interested in tackling the high land prices the should introduce proper zoning laws and a deadline in which a house must have been built an urban land for housing purposes.

[kevc]

Doesn't that just give you peace of mind.

[MrJ2U]

Flip flopping around surely puts confidence in the Thai markets.

 

 

[SpanishExpat]

Raise to 100million? Cmon ..to be really sure, please raise it directly to 1 billion. 100 million are just peanuts for all of us, as we take a Champagner Bath every morning, eat Khao Phad with caviar for breakfast and let our wife’s decide, if they take the Bentley or the  Lamborghini Urus to drive to the local market????????????

[Thingamabob]

This was never a good idea in the first place. Just leave the current law as it is. I wish my own country, the UK, had also never allowed foreigners to buy land or houses. As it is house/land prices there have become extremely high, with limited availability in many areas.

[patman30]

10 hours ago, webfact said:

such as increasing investment to 100 million baht

????‍♂️????

[billd766]

5 hours ago, Andycoops said:

This whole miserable government will also hopefully be cancelled at the next election too.

I do hope so though that would probably lead to yet another coup.

[ThailandRyan]

11 minutes ago, billd766 said:

I do hope so though that would probably lead to yet another coup.

Wonder what Happens when the PPRP gets dissolved for taking a payoff from a Chinese man in order to get Citizenship and run illegal bars with drugs.

[arick]

6 hours ago, Gknrd said:

My GF of many years just bought a little over half a rai right outside of KK for 300,000. Now waiting for the power company, for power.

It's very expensive around kk  why didn't you look 30 mins away less expensive 

[arick]

7 hours ago, VinnieK said:

No you don't 

Your partner does.

..and btw...when was it purchased?

100 years ago?

Prices are insane these days, at least here in the south 

1 Rai (rubber), in the boonies, will be minimum half a mil.

Next to  a provincial road, still in the boonies, as much as 2 or even 3.????????????

 

Your telling me I can't live on the land or use the land until I die. Your sadly mistaken. It was purchased 7 years ago off a main highway 45 mins for kk airport and 5 lotuses in every direction. If this is the boonies I will take it any day over Jomethian 

[PETERTHEEATER]

9 hours ago, 2baht said:

OK! Let's see just how xenophobic you really are! ????

Oh good. A referendum. Cheaper, methinks, to ask the population of the world a simple question. "Hands up all those who would like to rent a one rai plot of land for three years by investing 100 million ThB non-refundable?"

[sead]

Why would anyone agree? You can have land without any cost. That's how the rich keeps their land. If you never have to pay tax then it can just sit there

[BritScot]

8 hours ago, gerrytraveller said:

Please tell me where I can buy 5 rai for 300k that is Chanote or Nor sor sam. If you do not have that then your "lease contract" is totally null and voidable..

You can find depending on what your looking for and who you are buying from. Obviously once it's known Farang the price shoots up. Buying from family/extended family is cheaper also depending on the type of land and the big one TRUST! Our house in Thailand sits on between 2 to 3 Ria of land plus another 6 which was purchased from aunt's etc at about 50k baht each over time. I often saw land coming up for sale at 50k to 100k per rai.

[Zack61]

Please just say no. Do the right thing by your people. 

[DrPhibes]

8 hours ago, Gknrd said:

My GF of many years just bought a little over half a rai right outside of KK for 300,000. Now waiting for the power company, for power.

Wife has 104 rai gently sloping piece of raw land outside of Kam Ta Kla, one side has a stream, one side a road.  She would let it go for 120,000 per rai.  Deals can be found...

[Puccini]

12 hours ago, webfact said:

Interior Minister General Anupong Paochinda responded that this issue is still in the Council of State process.

I read that the Cabinet, ie the Council of State, approved it last Tuesday.

[DrPhibes]

8 hours ago, Gknrd said:

My GF of many years just bought a little over half a rai right outside of KK for 300,000. Now waiting for the power company, for power.

Wife has 104 rai gently sloping piece of raw land outside of Kam Ta Kla, one side has a stream, one side a road.  She would let it go for 120,000 per rai.  Deals can be found...

[DrPhibes]

8 hours ago, Gknrd said:

My GF of many years just bought a little over half a rai right outside of KK for 300,000. Now waiting for the power company, for power.

Wife has 104 rai gently sloping piece of raw land outside of Kam Ta Kla, one side has a stream, one side a road.  She would let it go for 120,000 per rai.  Deals can be found...

[Morakot]

7 hours ago, realfunster said:

A distinctly separate investment of THB 40m for 3 years in Thai government funds gives you the right to buy 1 rai of land. 

After the stipulated investment holding period of 3 years, this THB 40m in Thai government funds is returned and the land remains yours.

 

What type of investment vehicle by the government?

 

What investment in the Thai market would guaranty a return?

 

[Morakot]

12 minutes ago, Morakot said:

What type of investment vehicle by the government?

Found the answer:

 

Government bonds, real estate funds, infrastructure bonds, or real estate investment funds

 

None of these guaranty a return; they might be worthless or unsellable after three years.

 

Another catch is that this option is only available to Long Term Resident (LTR) visa holders. Which means when the visa has expired they may not be able to enjoy their property.

Edited November 4, 2022 by Morakot

[Morakot]

2 hours ago, arick said:

Nice trees!

[paul1804]

What are they smoking or are they from another planet !!!