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

[paul545]

4 hours ago, MarkBR said:

Scotland is mostly owned by non-Scots.

So is the Scottish parliament lol 

[GammaGlobulin]

1 hour ago, NoDisplayName said:

 

I am confused yellow.

 

Condo units are bought outright by foreigners, not leased.

 

How would offering 99-year rental contracts on units that won't exist in 20 years increase condo sales?

 

It's all illogical and wasteful from the beginning.

 

Use the money to build clean high-tech industries in Thailand, is a much better plan.

 

 

[NativeBob]

3 hours ago, renaissanc said:

Buying a condominium is a bad investment because you will have great difficulty selling it owing to the unending oversupply.

How true! I wish I met someone who would be able to explain this to me back in 1998. It took 10 years and ~20% discount to get rid of that shoebox flat. 

4 hours ago, Kerryd said:

Yesterday it was "200,000" condos.
Today it's 1.3 MILLION !

what is the REAL data? 

just asking ...

[SAFETY FIRST]

9 hours ago, webfact said:

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

We need this guy in Australia politics. 

 

Too many foreigners buying up property in Australia, pushing prices up. 

 

Edited July 13 by SAFETY FIRST

[off road pat]

7 hours ago, Scouse123 said:

 

Well said.

 

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

Hm,...I have always been very well treated in Thailand and every Asian country.

 

[Dave0206]

In the UK England in particular it is very common to buy a property leasehold as opposed to freehold. Lease normally starts at 99 years but obviously as these years dwindle down it affects your selling price hence need to negotiate to extend lease as far as Thailand is concerned I don't intend to live another 30 years let alone 99 years so I don't give a flying duck I was always bad at spelling 😀 

[Scouse123]

57 minutes ago, off road pat said:

Hm,...I have always been very well treated in Thailand and every Asian country.

 

 

I am not talking about how I have been treated, which is great.

 

I have seldom had an issue in any Asian country, and I am very personable, respectful and tolerant to other peoples culture.

 

Not only that, but I am talking about the disparity of what we allow Thais in the UK to do and what they don't allow us to do in Asia.

 

As in land and property rights etc

[Scouse123]

9 hours 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.

 

 

 

Bang on.

[jacob29]

9 hours ago, Scouse123 said:

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.

How does shifting that benefit to the 'greedy foreigner' benefit the average Thai citizen? You seem to be acknowledging it enriches the wealthy - at a cost to the average Thai (since that money had to come from somewhere).. while advocating to open up the floodgates to the global greedy rich.

[OneMoreFarang]

13 hours ago, webfact said:

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

 

How about armed red-shirts and MiB in the middle of the city? Or burning down a big part of the inner city? Do those actions also have "detrimental long-term effects on the country"?

 

Never forget!

 

 

[Marco100]

Maybe a vider prospective of the Real Estate Market in South East Asia would make us understand the 75% Condo n 99 year Lease .

There isn't only Thailand as s player !

There is plenty of offer from Vietnam,  Malaysia,  Indonesia,  Philippines,  et et so if you want to sell your 1.2 million  unsold units and not find Thailand  1998 again , better give some incentives ....

Up to uuuuu 😂

[Reddavy]

Ohhhh dear Thais can buy abroad but ohhhh no farang, not in Thailand 😡

[atpeace]

13 hours 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.

 

I'm always bored with the fools that bash Thais at every chance but this post is actually sensible.  The visas are easy here though compared to the west and definitely easier than America by many multiples.  

[Etaoin Shrdlu]

Some states in the US have already moved to restrict foreign ownership of land:

 

https://iowacapitaldispatch.com/2024/04/09/iowa-gov-kim-reynolds-signs-law-on-foreign-farmland-ownership-regulations/

 

I can't see any real purpose for these regulations other than as a salvo in the culture wars with foreigners as the bogeyman. The amount of farmland in Iowa owned by foreigners is miniscule and nobody is going to dig it up, put it on a barge, and ship it off to Saudi Arabia or anything like that. More disturbing is what private equity firms are doing to the residential property market, but crickets from the Republicans on that issue.

 

Just more xenophobia and Republican pandering to the fears of their base and a diversion from the real threats to the interests of the American middle and working classes. Many of these threats come from the Republican Party itself and in particular Project 2025.

 

Kinda reminds me of somewhere closer to hand.

 

 

[Dakhar]

99 years

75% ownership 

Tax on foreign earned income

 

= Hard Pass

[AloisAmrein]

I will not buy any property in Thailand with the actual or future rules. Renting is the solution.

[DonniePeverley]

These recent measures - allowing an influx of long stayers, changes in rules of property ownership (which will harm many Thai's) - almost seem like they have been introduced to benefit real estate developers. 

 

 

OH WAIT ..... i get it now. 

[DonniePeverley]

21 hours 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. 

 

 

Thailand isn't a rich country. It's citizens can live and work in central Bangkok and get by. It's a fine eco system. 

 

Once the locals are pushed out, due to foreign investors speculating on property (which is disgusting) at the expense of living, then you damage the eco system. Local Thai's would be pushed out, rents will increase forcing hardship on Thai's, which will result in demands for an increase in wages, which is then passed onto the consumer. 

 

The only ones who benefits are the property developers, and those who can afford a risk on property in Thailand. 

 

I've seen examples with my own eyes. A condo i was staying had loads of Thai's, however it's now fully occupied by mostly Russians, and investors from China who are happy to keep the properties empty. The Thai's have had to leave due to rent increases. So they move to a crappier area, and have to travel further. Isn't the role of the government there to protect them? 

 

It's a disgrace. 

[JoeyMac]

Who is making these proposals and who benefits ? 

 

Local Thai's certainly will not benefit in this developing nation. 

Edited July 14 by JoeyMac

[connda]

On 7/13/2024 at 3:17 AM, webfact said:

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.

 

It's gonna be highly inflationary and the government will then turn around and raise taxes to offset the handout.  As well it sets a precedent for politicians to promise voters a handout from the Thai treasury for votes.  It should be illegal. 

[Scouse123]

22 hours ago, jacob29 said:

How does shifting that benefit to the 'greedy foreigner' benefit the average Thai citizen? You seem to be acknowledging it enriches the wealthy - at a cost to the average Thai (since that money had to come from somewhere).. while advocating to open up the floodgates to the global greedy rich.

 

 

Pathetic answer,

 

I've been in a relationship for 27 years, and I am not allowed shared ownership of my home, but a Thai can walk in to England, buy a house in their name, buy a business in their own name.

 

What's all this about greedy foreigners.

[Scouse123]

22 hours ago, jacob29 said:

How does shifting that benefit to the 'greedy foreigner' benefit the average Thai citizen? You seem to be acknowledging it enriches the wealthy - at a cost to the average Thai (since that money had to come from somewhere).. while advocating to open up the floodgates to the global greedy rich.

 

 

Thais are well capable of looking after themselves, they don't need you trying  to go native and sticking up for them.

 

They know every trick in the book.

[Scouse123]

On 7/13/2024 at 6:57 AM, kuzmabruk said:

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

 

The problem is that many of the ones that come don't want to go back home, they are not genuine tourists, and revert into ways that are not very nice, selling themselves, selling drugs, overstaying visas, massage parlours acting as fronts for prostitution,

 

European immigration is weak on them and they know it.

 

Seen it with my own eyes in the UK. There is no 800K in the bank over in the UK, no 90 day reports, No home visits, AND THE VISA THEY GET AUTOMATICALLY ALLOWS THEM A 6-MONTH STAY.

 

I suggest you look at South Korea, Singapore and Japan and why they are reviewing their policies on Thais and visa free.

[jacob29]

18 minutes ago, Scouse123 said:

 

 

Pathetic answer,

 

I've been in a relationship for 27 years, and I am not allowed shared ownership of my home, but a Thai can walk in to England, buy a house in their name, buy a business in their own name.

 

What's all this about greedy foreigners.

It wasn't an answer, it was a question. One that you have dutifully dodged. If you like England so much, maybe go live in England.

 

As for greedy foreigners, you know exactly what that's about given you used the phrase 'greedy rich' to characterise Thai homebuyers who benefit from this law. So how about not feigning ignorance?

[Purdey]

If the lease scheme falls flat the PM hasn't a clue what to do. As a real estate magnate, all he can think about is making money in his key business. 

The British government is also to blame in not seeking reciprocal agreements. Thais have been buying houses and flats in the UK for years but that is fine for the British. The Labour government should make everything equal.

[Dogmatix]

He is right about the digital wallet being a ruinous economic policy and it is tantamount to vote buying. 

 

I don't see the problem with 99 year leases though.  I believe that more Thais would benefit than foreigners. Thai businesses frequently have to take 30 year leases to get business premises in locations they want.  I central Bangkok much of the desirable land is owned by large estates that will never sell, just like London, and therefore leasehold only.  

 

75% foreign ownership of condos is also neither here nor there.  Most of the buildings foreigners want to own more than 49% are in resort areas where there are not many Thai buyers.  In these cases it will make zero difference to affordability for Thais. 

 

At any rate Thais can rest easy that the government is doing its level best to dampen foreign demand for real estate but taxing the living b' Jesus out of remittances by foreigners and threatening global tax.  Who would want to bring 20 million into Thailand to buy a condo or a 99 year lease, if they have to pay 35% tax on it?

Edited July 14 by Dogmatix

[still kicking]

On 7/13/2024 at 6:48 AM, 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 back to your best GG lets kick out all Thais who own houses overseas including my Thai wife who owns two

Edited July 14 by still kicking

[Scouse123]

30 minutes ago, Purdey said:

If the lease scheme falls flat the PM hasn't a clue what to do. As a real estate magnate, all he can think about is making money in his key business. 

The British government is also to blame in not seeking reciprocal agreements. Thais have been buying houses and flats in the UK for years but that is fine for the British. The Labour government should make everything equal.

 

Well said

[Scouse123]

1 hour ago, jacob29 said:

It wasn't an answer, it was a question. One that you have dutifully dodged. If you like England so much, maybe go live in England.

 

As for greedy foreigners, you know exactly what that's about given you used the phrase 'greedy rich' to characterise Thai homebuyers who benefit from this law. So how about not feigning ignorance?

 

 

Who are you to tell me to go live in England?

 

Are you a member of the Thai government or an immigration officer?

 

Probably, certainly, done a lot more for this country than you ever have or will.

[GammaGlobulin]

23 minutes ago, still kicking said:

You back to your best GG lets kick out all Thais who own houses overseas including my Thai wife who owns two

 

I ONLY care about Thailand.

I do NOT care about what happens in other countries overseas.