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Thailand mulls allowing foreigners to buy 75% of condo units


webfact

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🤣🤣makes no difference actually. The condos the Chinese n the Hongkongers like are usually never liked by the rest of the Thai n the astute foreign/expat population 🤣🤣🤣. So the great parody is that there is zero resale value for such condos except for the Chinese n the Hongkongers selling to each other .. or another suckered foreigner. 
With prices artificially maintained at +10% annually with total disregard of demand n supply and also the fact that prices have now reached Hong Kong n Singapore levels, it will never be bought by local Thais who have plenty of choices throughout the whole of Thailand. 🤣🤣
Such is the reality of Thai real estate. 

Edited by NemoH
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4 minutes ago, samtam said:
3 hours ago, Henryford said:

 Who decides who is in the 49-75% category?

Would this mean foreigners could not vote, at say an AGM?

 

Foreigners can already vote in an AGM and their vote is the same as Thai owners.

 

The question was not about how things are now, but how they would be under the proposed amended law:

 

5 hours ago, webfact said:

extend the maximum foreign ownership in condominiums from 49% to 75%. However, conditions might be attached, such as limiting the voting rights of foreigners purchasing units over the 49% threshold.

 

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3 hours ago, Henryford said:

 Who decides who is in the 49-75% category?

Would this mean foreigners could not vote, at say an AGM?

     Foreign owners would still be allowed to vote at the AGM.  I think the weight of the foreign-owned vote would be limited to 49%.   I believe it's incorrect to state that Thai owners will remain in control with all condo projects.  At the last condo I owned, the foreign owners were clearly in control, holding a majority of the seats on the condo board.  Perhaps someone will correct me if I am wrong but I think there isn't anything in the Condominum Act stating that the condo boards must have a majority of Thai owners.  

     I think the 75% proposal is a good thing, especially for places like Pattaya, where a number of the projects have filled the 49% quota.  This is especially true for some of the less-desirable second tier projects, with foreign quota filled but still having unsold units.  Having more foreign quota might help these projects find some more buyers.

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