99-Year Land Lease To Foreigners Will Harm Thailand: Jatuporn

[webfact]

 

Former Thai Member of Parliament and Red Shirt leader Jatuporn Prompan has vehemently opposed the proposed plans to allow foreigners 99-year leases on land and the introduction of a digital wallet scheme, arguing that both could have detrimental long-term effects on the country.

 

In a recent statement, Jatoporn criticised the government’s decision, suggesting the relaxation of these property regulations will primarily benefit real estate businesses struggling to sell a backlog of approximately 1.3 million unsold condominium units.

 

The Thai government, led by Thailand's Prime Minister Srettha Thavisin, announced a significant overhaul of property regulations designed to attract more foreign investment.

 

Detailed proposals include extending the maximum lease term for foreigners from 30 to 99 years and increasing the foreign ownership quota in condominium buildings from 49% to 75%. Though additional measures ensure Thai nationals retain 51% control over condo management, concerns remain about the potential exploitation of these policies.

 

Simultaneously, Jatuporn expressed sever concerns over the 10,000 baht digital wallet proposal, which he believes will escalate national debt without tangible benefits to the Thai populace. He warned that such monetary handouts would result in a catastrophic financial burden, implicating future generations and potentially harming the nation's economic stability.

 

Jatuporn underscored the lack of safeguards against illicit financial flows through digital transactions, which could introduce untraceable 'grey money’ into the economy. He stressed that while financial aid is necessary, it should not come at the cost of economic integrity and sustainability.

 

Critics like Jatuporn point to the need for a thorough impact assessment and robust safeguards to ensure that these ambitious measures do not undermine the country’s economic or social fabric. The debate continues as the Thai government moves forward with its legislative changes amidst growing public scrutiny.

 

TOP: Jatuporn Prompan. File photo courtesy: Naewna

 

-- 2024-07-13

 

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[harleyclarkey]

Let's give all Thais a 30-year lease for any property they buy abroad? 

See how you Thais like it. Especially those who washbdirty money abroad...maybe even those in positions of power? 

Property title on the 30-year lease scam in Thailand is designed to take properties off foreigners and hand back to the Thai land owner. Scam. 

[GammaGlobulin]

I agree with the 10-year lease for Farang.

 

I don't want no Farang leasing land around my area.

 

Thailand for Thai People!

 

This is what I believe.

 

Otherwise, Thailand will end up like the Virgin Islands, or somewhere.

 

(Why does Thailand need overseas investors driving up land prices in Thailand?  Sounds to me like Barnaby Canada, or just the entire west coast of Canada, and maybe Toronto, too.  It's not good for Canadian people.  And, it's not good for Thailand people, either.)

 

The Digital Wallet Scheme will just cause inflation here in Thailand, similar to what Americans have been enjoying in their country.

 

 

[ChasingTheSun]

The banning of foreign ownership of land and the 49% foreign condo ownership rules are probably two of the smartest laws in Thailand.

It keeps the land and its control for the Thai people.

 

Western countries should also enact similar laws to protect their citizens from foreign buyers.

[Scouse123]

46 minutes ago, harleyclarkey said:

Let's give all Thais a 30-year lease for any property they buy abroad? 

See how you Thais like it. Especially those who washbdirty money abroad...maybe even those in positions of power? 

Property title on the 30-year lease scam in Thailand is designed to take properties off foreigners and hand back to the Thai land owner. Scam. 

 

Well said.

 

Let's start treating them in our countries like they are treating us here.

[Scouse123]

10 minutes ago, ChasingTheSun said:

The banning of foreign ownership of land and the 49% foreign condo ownership rules are probably two of the smartest laws in Thailand.

It keeps the land and its control for the Thai people.

 

Western countries should also enact similar laws to protect their citizens from foreign buyers.

 

 

We call it fairness and a democratic society in the West.

 

It's protectionism which has no benefit to the average Thai citizen, only the greedy rich, who happily spend millions on buying property in London with no restrictions.

[Scouse123]

41 minutes ago, GammaGlobulin said:

I agree with the 10-year lease for Farang.

 

I don't want no Farang leasing land around my area.

 

Thailand for Thai People!

 

This is what I believe.

 

Otherwise, Thailand will end up like the Virgin Islands, or somewhere.

 

(Why does Thailand need overseas investors driving up land prices in Thailand?  Sounds to me like Barnaby Canada, or just the entire west coast of Canada, and maybe Toronto, too.  It's not good for Canadian people.  And, it's not good for Thailand people, either.)

 

The Digital Wallet Scheme will just cause inflation here in Thailand, similar to what Americans have been enjoying in their country.

 

 

 

Nonsense

[Scouse123]

42 minutes ago, GammaGlobulin said:

I agree with the 10-year lease for Farang.

 

I don't want no Farang leasing land around my area.

 

Thailand for Thai People!

 

This is what I believe.

 

Otherwise, Thailand will end up like the Virgin Islands, or somewhere.

 

(Why does Thailand need overseas investors driving up land prices in Thailand?  Sounds to me like Barnaby Canada, or just the entire west coast of Canada, and maybe Toronto, too.  It's not good for Canadian people.  And, it's not good for Thailand people, either.)

 

The Digital Wallet Scheme will just cause inflation here in Thailand, similar to what Americans have been enjoying in their country.

 

 

 

 

You obviously have a very blinkered vision of the world.

[AhFarangJa]

51 minutes ago, harleyclarkey said:

Let's give all Thais a 30-year lease for any property they buy abroad? 

See how you Thais like it. Especially those who washbdirty money abroad...maybe even those in positions of power? 

Property title on the 30-year lease scam in Thailand is designed to take properties off foreigners and hand back to the Thai land owner. Scam. 

I have been saying for many years that other Countries should look at the rules of a foreign national entering. For Example A Thai going into England......ok then let us see......

Cannot own a house

Cannot own a business 

Cannot get Nationality regardless of length of stay

Renew visa annually

Report every 90 days

Cannot have any occupation an English person can do

No access to free medical care.

All hospital treatment will be double priced.

 

[PuiPuiHarry]

17 minutes ago, ChasingTheSun said:

Western countries should also enact similar laws to protect their citizens from foreign buyers.

Wonderful. You Thai, you want to see the Cologne Dom/ Eiffel tower / London Bridge: 10 x what a German/French/British citizen pays. A Louis Vutton handbag: 10 x the EU price. Land cannot be owned by Thais, companies must be 51% local ownership. Schengen visa: 60 days, and after: you will be arrested. Curious how fast the rich and wealthy = Thai politicians, will change their mind

[hotchilli]

3 hours ago, webfact said:

In a recent statement, Jatoporn criticised the government’s decision, suggesting the relaxation of these property regulations will primarily benefit real estate businesses struggling to sell a backlog of approximately 1.3 million unsold condominium units.

So instead of blocking foreigners from renting for 99 years why not fix the economy so locals can afford to buy your overpriced condos.

[ezzra]

Thailand only interested in tourist's money, the more millions the better, giving expats and long time residents

any kind of rights is something Thais are NOT fond off citing 'security' issues, and paranoia everywhere,

Thailand is lucky in the sense that she can still attract millions of tourist every year and this is

why their reluctant to give expats any rights... 

[nobodysfriend]

3 hours ago, webfact said:

the relaxation of these property regulations will primarily benefit real estate businesses struggling to sell a backlog of approximately 1.3 million unsold condominium units.

 

 

Who is the " real estate tycoon " in the current government ?

 

3 hours ago, webfact said:

Thai government moves forward with its legislative changes amidst growing public scrutiny.

 

Sure, they take what they can while still in power ...

[jcmj]

No one in their right mind will even touch the 89 year lease. No need to worry about that. 

[kuzmabruk]

31 minutes ago, Scouse123 said:

 

Well said.

 

Let's start treating them in our countries like they are treating us here.

Agree 100%.  Let’s give them visas on arrival in the US, Canada and every other country where Thais have difficulty getting a visa

[nobodysfriend]

3 hours ago, webfact said:

both could have detrimental long-term effects on the country.

 

They are soooo worried about the country , but do nothing for it , except filling their own pockets as long as they can and to hell with the rest ...

But pose as the savior of thailand from farangs who only want the usurpation of thailand , take everything away from thai people , their home , their land , their whatever ...

Some call that : Xenophobia .

[retarius]

You are right, Japtuporn, about this; although wrong about most other things. But before you know it with a 99 year lease you would see farmers being kicked off their land, making their way to Bangkok and living in cardboard shacks under the highways. Bangkok would look like Mexico City or Delhi if 99 year leases are allow. We have a short term problem in the housing market.....let the developers forgo some profits for a year or to, but don't create a long term problem for some short term solution to a temporary problem. 

[Robert Paulson]

Yes. Only Chinese overlords who have come here and pillaged Thais are allowed to own land. What were you thinking 

[2baht]

34 minutes ago, ezzra said:

Thailand only interested in tourist's money, the more millions the better, giving expats and long time residents

any kind of rights is something Thais are NOT fond off citing 'security' issues, and paranoia everywhere,

Thailand is lucky in the sense that she can still attract millions of tourist every year and this is

why their reluctant to give expats any rights... 

It's called Chronic Xenophobia!

[ChrisY1]

1 hour ago, GammaGlobulin said:

I agree with the 10-year lease for Farang.

 

I don't want no Farang leasing land around my area.

 

Thailand for Thai People!

 

This is what I believe.

 

Otherwise, Thailand will end up like the Virgin Islands, or somewhere.

 

(Why does Thailand need overseas investors driving up land prices in Thailand?  Sounds to me like Barnaby Canada, or just the entire west coast of Canada, and maybe Toronto, too.  It's not good for Canadian people.  And, it's not good for Thailand people, either.)

 

The Digital Wallet Scheme will just cause inflation here in Thailand, similar to what Americans have been enjoying in their country.

 

 

The currennt lease hold is 30 years, not 10. Xenophobia is childish..get a life!

[ChipButty]

Lets say they agree to the 99 year lease, what would happen to the existing 30 year ones? would they have to extend them to 99 years, 

[ChipButty]

1 hour ago, ChasingTheSun said:

The banning of foreign ownership of land and the 49% foreign condo ownership rules are probably two of the smartest laws in Thailand.

It keeps the land and its control for the Thai people.

 

Western countries should also enact similar laws to protect their citizens from foreign buyers.

Too late, that ship sailed a long time ago

[mfd101]

99 years does seem excessive. For practical purposes (as opposed to symbolism) you might as well not have a limit.

[MarkBR]

1 hour ago, ChasingTheSun said:

The banning of foreign ownership of land and the 49% foreign condo ownership rules are probably two of the smartest laws in Thailand.

It keeps the land and its control for the Thai people.

 

Western countries should also enact similar laws to protect their citizens from foreign buyers.

Scotland is mostly owned by non-Scots.

[john donson]

2 hours ago, GammaGlobulin said:

I agree with the 10-year lease for Farang.

 

I don't want no Farang leasing land around my area.

 

Thailand for Thai People!

 

This is what I believe.

 

Otherwise, Thailand will end up like the Virgin Islands, or somewhere.

 

(Why does Thailand need overseas investors driving up land prices in Thailand?  Sounds to me like Barnaby Canada, or just the entire west coast of Canada, and maybe Toronto, too.  It's not good for Canadian people.  And, it's not good for Thailand people, either.)

 

The Digital Wallet Scheme will just cause inflation here in Thailand, similar to what Americans have been enjoying in their country.

 

 

 

fair would be, same rules for thais outside of thailand

 

that thailand for thais is just xenophobic

 

why would  a foreigner not be allowed to own 1 rai of land to build HIS house in HIS name

 

bigger long scam... in divorce, foreigner lose house ...  specially if family moved in and threaten the person a bit to move or get an accident... high stakes...

 

if 30 year lease got to pay 75% of the value of the condo, so a 99 year lease, thai style, would double or tripple the price, for foreigners, for sure...

[Srikcir]

Practically, why would any individual foreigner want a 99 year lease in a country where foreigners have no constitutional rights, subjected to arbitrary military-royalist zenophobic laws and regulations to convince Thais of their never-ending insecurity due to foreign influence? 

Why would Thais worry about resident foreigners taking control of the nation when the average Thais never possessed sovereignty in their own land. The nation in terms of democratic freedoms and rule of law hasn't really changed since 1932 other than to broaden the elitist base. 

[Luuk Chaai]

as much of a dirtbag as this specimen is   ..   have to agree with him !

[jippytum]

On a rare occasion i agree with a Thai politician 100% on both counts

[Robert Tyrrell]

สวัสดีตอนเช้า ,

เราก็ฟาร์รังมีสามัญสำนึกเยอะ :) ซึ่งบางทีก็หายากในเมืองไทย 555555 🙂 ไม่มีที่พักแน่นอน !!!! เลขที่ !! การลงทุนในประเทศไทย !!!! ดูภัยพิบัติในปัจจุบันของคุณจากการทำลายล้างอุตสาหกรรม Cannibis !!! ประวัติความเป็นมาเปล่งประกาย ได้รับข้อความจากประเทศไทย !!!!!!!การสูบบุหรี่ ดราม่า และพฤติกรรมการรับใช้ตนเอง ดูเหมือนจะเป็นแนวทางในแวดวงการเมืองของประเทศไทยและมีอยู่มากมาย !! -

 

 

Good Morning ,

 

Well us Farrang have a lot of common sense 🙂 Which sometimes is a rare species in Thailand 555555 🙂 No accomadtions absolutely !!!! NO !! INVESTMENT IN THAILAND  !!!! Look at your current diaster of decimatiing the Cannibis Industry !!! Track record is shinning  Thailand Message Recieved !!!!!!! 🙂

Seems to be the way in the political realm in Thailand  and very plentiful !! 🙂 :)Smoking mirrors,Drama and self serving behavior seem plentiful in Thailand !!! 🙂

 

[LukKrueng]

1 hour ago, AhFarangJa said:

I have been saying for many years that other Countries should look at the rules of a foreign national entering. For Example A Thai going into England......ok then let us see......

Cannot own a house

Cannot own a business 

Cannot get Nationality regardless of length of stay

Renew visa annually

Report every 90 days

Cannot have any occupation an English person can do

No access to free medical care.

All hospital treatment will be double priced.

 

Another idea is to let all foreigners live in Thailand with the same rules, laws and cost of living as in their own country.