New Regulation Allowing Foreigners To Buy Land Withdrawn: Anupong

[webfact]

 

by TNR Staff

 

INTERIOR Minister Anupong Paochinda this morning (Nov. 8th) said before attending a Cabinet meeting that a draft ministerial regulation allowing four categories of foreigners to buy maximum one rai of land for residential purposes is being withdrawn to study this sensitive issue again, Matichon newspaper said.

 

When asked whether the draft will be resubmitted to the Cabinet for approval after the new study is completed, Gen. Anupong said he did not know but the ministry had to examine this issue again to work out the good and bad effects it would have on the economy and the society.

 

Asked whether the draft regulation is restudied because of social pressure, Anupong said he had told the Parliament and the press that this is a sensitive issue and the pros and cons had to be worked out again.

 

Full story: https://thainewsroom.com/2022/11/08/new-regulation-allowing-foreigners-to-buy-land-withdrawn-anupong/

 

-- © Copyright  THAI NEWSROOM 2022-11-08

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more!

[bob smith]

14 minutes ago, webfact said:

INTERIOR Minister Anupong Paochinda this morning (Nov. 8th) said before attending a Cabinet meeting that a draft ministerial regulation allowing four categories of foreigners to buy maximum one rai of land for residential purposes is being withdrawn to study this sensitive issue again, Matichon newspaper said.

wish I could've bet my house on that happening as it was a dead cert! (it may have been a bit difficult with not being allowed to own it but you know what i mean ???? )

 

anyone who didn't see this coming is either braindead or living in cloud cuckoo land. 

Edited November 8, 2022 by bob smith

[Will B Good]

On a brighter note it avoids some serious embarrassment for when not one single person was found stupid enough to even consider it.

[bob smith]

2 minutes ago, Will B Good said:

On a brighter note it avoids some serious embarrassment for when not one single person was found stupid enough to even consider it.

raise the minimum required  investment to 80 million baht then! surely then they will come and invest in their droves (thai business 101) ???? 

Edited November 8, 2022 by bob smith

[Jerno]

Flippity flop, flippity flop. Back peddle, break an ankle, lose Face. 

[userabcd]

Very surprised they even allow foreigners to own condos given the hoops one has to jump through annually, every 3 months and reporting one's whereabouts travelling for a holiday to stay in a different place, all just to stay long term in the country.

Edited November 8, 2022 by userabcd

[Orinoco]

Quote

is being withdrawn to study this sensitive issue

Mission accomplished, a new committee will now be set up.

Jobs and perks for the boys.

The new Gravy Train, Slowly pulls out of the station.

TIT. 

 

 

 

Edited November 8, 2022 by Orinoco

[connda]

Good. Its just allowed the filthy rich foreign interests to suck up Thai land.
I'd name names, but you can't, so I won't.
Long-term leases are in Thailand's interest and you don't particularly have to be a millionaire to lease land for your natural life-span.  Foreign ownership?  Not a good idea if Thailand wants to remain sovereign. 

[MisterTee]

19 minutes ago, connda said:

Good. Its just allowed the filthy rich foreign interests to suck up Thai land.
I'd name names, but you can't, so I won't.
Long-term leases are in Thailand's interest and you don't particularly have to be a millionaire to lease land for your natural life-span.  Foreign ownership?  Not a good idea if Thailand wants to remain sovereign. 

Exceptionally good post.

If real estate prices went sky high as a result of foreign speculation then resident expats would be blamed by most Thais.

I've never had a problem with land and houses... they're all in my wife's name and wilĺ soon be in the names of our adult children.

If you can't trust your wife, who can you trust?

 

[anchadian]

Has now officially been withdrawn:

 

(1/2) BREAKING: PM Gen Prayut confirms Tues after Cabinet meeting that last month's Cabinet proposal to amend the Interior Ministry regulations that would allow foreigners to own up to 1 rai of land if they invest 40 million baht per year for 3 years has been withdrawn. #Thailand

 

 

 

 

(2/2) The administration came under heavy criticisms over the past weeks that they're literally "selling off" Thai land. Interior Minister Gen Anupong Paojinda said earlier today they will explore the matter further in details and may revive it in the future, however.

 

https://twitter.com/KhaosodEnglish/status/1589859169699790848

[Laphroaig27]

The funny thing is that liberalizing and strengthening condo laws would do far more at bringing long term expats in than this wild eyed scheme ever could.

 

The only rich people that would come here are exactly the kinds you don't want. Case in point news items about Chinese over past two weeks.

[bang saen guy]

23 minutes ago, Laphroaig27 said:

The funny thing is that liberalizing and strengthening condo laws would do far more at bringing long term expats in than this wild eyed scheme ever could.

 

The only rich people that would come here are exactly the kinds you don't want. Case in point news items about Chinese over past two weeks.

I doubt there will be any liberalizing condo laws. Expect the opposite. I would not be buying now. Selling maybe

[edwinchester]

2 hours ago, connda said:

Good. Its just allowed the filthy rich foreign interests to suck up Thai land.
I'd name names, but you can't, so I won't.
Long-term leases are in Thailand's interest and you don't particularly have to be a millionaire to lease land for your natural life-span.  Foreign ownership?  Not a good idea if Thailand wants to remain sovereign. 

It's not hundreds of acres of prime residential or industrial land it's 1(ONE!) rai of land for the investor's own residential property that they will live in.

To think that Thailand will lose control of vast areas of the country is seriously deluded considering only 8, yes EIGHT, takers have invested 40 million bht since 2003 in the last hairbrained scheme to own sacred Thai soil.

Edited November 8, 2022 by edwinchester

[Photoguy21]

2 hours ago, bob smith said:

raise the minimum required  investment to 80 million baht then! surely then they will come and invest in their droves (thai business 101) ???? 

Too low. Make it 120 million that will get them queuing up to invest.

[Gold Star]

To be fair, the identical reciprocating policy should apply for Thais owning land or property in other countries. 

 

If a Thai can't buy land in China, then Chinese can't buy land in Thailand.

 

If a Canadian can't buy land in Thailand, then a Thai can't buy land in Canada, and so on.

 

Problem solved.

 

 

[userabcd]

They don't want foreigners buying land but rather want them to spend that kind of money buying into all those available for sale 30-100 million baht new condo developments in and along sukhumvit rd.

Edited November 8, 2022 by userabcd

[crazykopite]

Don’t know about saving face this is scrambled egg all over there faces what an absolute farcical situation these clowns have put upon themselves ????????????????????????????????????

[daveAustin]

Quote

New Regulation Allowing Foreigners To Buy Land Withdrawn: Anupong

Lol

[mjakob007]

5 hours ago, webfact said:

draft ministerial regulation allowing four categories of foreigners to buy maximum one rai of land for residential purposes is being withdrawn

OMG

Do i now wait or return the 100MB that was sent last week to buy 1 rai of land..

[Aussieroaming]

If only western countries would offer a reciprocal ban to Thailand.

[Photoguy21]

On 11/8/2022 at 12:39 PM, connda said:

Good. Its just allowed the filthy rich foreign interests to suck up Thai land.
I'd name names, but you can't, so I won't.
Long-term leases are in Thailand's interest and you don't particularly have to be a millionaire to lease land for your natural life-span.  Foreign ownership?  Not a good idea if Thailand wants to remain sovereign. 

Agreed but what are they going to do with the Chinese who are slowly, in their inimitable way, taking over?