Thailand Considers Law Revisions to Attract Foreign Real Estate Investment

[Purdey]

But... But how are foreigners leasing land supposed to help lower household debt? No one is paying off their debt are they? 

 

Edited 7 hours ago by Purdey

[bkk6060]

Other places in the world lease land.  But, there is usually some type of caveat that under certain circumstance the lease can be raised.  Especially 99 years that sounds crazy.

[Brave-Fart]

2 hours ago, newnative said:

     I doubt it.  I certainly wouldn't be interested in it at all--and my Thai spouse and I have bought about 20 properties in Thailand, a mix of condos and houses.  

I wonder then as to why you needed to retire in Thailand if you had the finances to buy "about" 20 properties.

Surely real estate in another country would provide better returns for your money upon resale. ?

[Elkski]

Only one reason to live in Thailand me thinks. 😁 

And if you are married and your wife doesn't allow, just why?

 

[chondan]

The land dept.  always get their share ++

 

[jaywalker2]

This is bull crap. The problem is that developers have put up a huge number of ridiculously expensive condos and now can't unload them. Look at Sinhorn Lumpini. A 2-bedroom condo goes for 180,000 baht a month. How about buying a condo at The Embassy on Wireless Road? That will only set you back over 8 mllion for a 35 sqm. condo. Too small? Don't worry, upgrade to 46 sqm for just 14 million. It's scandalous what they're been allowed to do. And since Thais can't afford them, you have to change the law to attract those "rich" Chinese who have already lost a bundle in the real estate crash over there. Another problem is that these luxury developments drive up prices all through the food chain. I get pissed off just thinking about it.

[CallumWK]

5 hours ago, BritScot said:

When I was building my house in Thailand I did a lot of research and one thing I found interesting was that US citizens were allowed to own land in Thailand to build a house on due to an agreement they had to make with America. However, upto that date 2010 no land office in Thailand had granted said right of ownership of land to an American!!!

 

You should have done more research, because there is no law that allows US citizens to own land in Thailand.

US citizens can own 100% of a company, in certain business sectors, but even that company can not own land

 

Treaty of Amity Company Restrictions

While the Thailand Treaty of Amity provides the above-mentioned advantages, the US citizen is also subjected to several restrictions stipulated in the treaty. The Thailand Treaty of Amity prohibits American investors from engaging in the following reserved activities:

• Communications
• Transportation;
• Fiduciary functions
• Banking involving depository functions;
• Land Ownership, Exploitation of land or
• Other natural resources; and
• Domestic trade in indigenous agricultural products.