Thai Property Reforms: A Boon or Burden for Foreign Buyers?

[CFCol]

1 hour ago, bradiston said:

I was wondering if allowing a maximum ownership of 1 rai (1600 sq m) of land might appeal to overseas investors. Enough to build a decent sized pool villa, for instance. Thailand contains 375,000,000 rai, though of course only a tiny fraction of that would be available. For overseas investors, retirees, or second home seekers, the options aren't currently that appealing. A 30 year lease or a nominee company, which is now under intense scrutiny, or a condo. Or, putting everything in a Thai partner's name, which could then become subject to divorce/separation proceedings. Outright ownership would offer a much more secure way forward.

 

There might be complications. A blue book for instance can't be issued to a foreigner. And no doubt some would try buying multiple plots around the country. But that could all be looked at.

 

Just my ¢2 worth.

A blue book can be ssued to a foreigner but the name cannot be shown in it

[Ralf001]

8 minutes ago, BarBoy said:

...but we live in Thailand.

 

you live here do you bob ?

 

Moderators, please confirm the IP address.

Edited 3 hours ago by Ralf001

[Nid_Noi]

8 minutes ago, MalcolmB said:

The Canadian and Australian First Nations people have been priced out of the best areas.

 

Who gains for the price of real estate? The government with all the taxes charged on acquisition and ownership. In Canada developers have to pay huge amount of money to develop the land and finance the infrastructure, making the price of housing obscene. Land by itself is cheap, ask the farmer whose land has been repossessed by their creditors and sold at auction. Municipalities and regional governments are the main culprits. Who needs a sport complex, a performance arts center, a stadium or a top of the art library in a 10,000 inhabitants town?

Native people have been excluded from the economic environment by lack of education and opportunities and also mismanagement. Casinos have only benefitted a few. Federal funds have been associated with smuggling or other criminal activities. Many reserves have no running water and sewage system but huge casinos and other gambling outlets.

[transam]

12 minutes ago, Ralf001 said:

 

you live here do you bob ?

 

Moderators, please confirm the IP address.

Why...?  

[Ralf001]

1 minute ago, transam said:

Why...?  

 

why what ?

[quake]

55 minutes ago, Nid_Noi said:

You don’t need 3 rai for decent house. We have a 400 square meter house on one rai of land. Enough land for 60 square meter pool and 1100 square meter garden, enough to keep a gardener busy 3 days a week. The car port on the edge of the driveway is enough for 2 small cars.

 

If you say so, how's the neighbors. 

 

 

Edited 2 hours ago by quake

[transam]

2 hours ago, BarBoy said:

Thailand can only remain protectionist for so long. There are a lot of people out there with a lot of money to spend, especially on property, but if Thailand chooses to adopt the attitude of 'Thailand for Thais' then they are going to lose billions from potential investors. 

 

Open up Thailand, or forever remain a 'developing nation.'

There is not a level playing field here to import farangy's buying land etc.

Just have a look at the minimum wage here...🤔

[Ralf001]

40 minutes ago, Nid_Noi said:

You don’t need 3 rai for decent house. We have a 400 square meter house on one rai of land. Enough land for 60 square meter pool and 1100 square meter garden, enough to keep a gardener busy 3 days a week. The car port on the edge of the driveway is enough for 2 small cars.

 

1 Rai is 1600sqm....

 

what you doing with the other 40 sqm ?

[transam]

3 minutes ago, Ralf001 said:

 

why what ?

Wanting to know an IP address..........🤔

[Ralf001]

5 minutes ago, transam said:

There is not a level playing field here to import farangy's buying land etc.

 

 

............

 

 

Edited 3 hours ago by Ralf001

[Ralf001]

2 minutes ago, transam said:

Wanting to know an IP address..........🤔

to show he is living here... really trans man are you that <deleted> stupid ?

[transam]

Just now, Ralf001 said:

 

Are you saying Thai's pay different import taxes on goods than foreigners ?

 

 

Don't chop up my posts........

I never said anything about import taxes.....

[transam]

1 minute ago, Ralf001 said:

to show he is living here... really trans man are you that <deleted> stupid ?

So you are telling staff, asking staff about a member's IP address, how strange, plus you've never heard of VPN..........😂

[Ralf001]

1 minute ago, transam said:

So you are telling staff, asking staff about a member's IP address, how strange, plus you've never heard of VPN..........😂

 

If you live in Thailand why would you use a VPN to post on this forum ?

 

<deleted> me Trans Man.... you lower the collective IQ of this forum.

[transam]

2 minutes ago, Ralf001 said:

 

If you live in Thailand why would you use a VPN to post on this forum ?

 

<deleted> me Trans Man.... you lower the collective IQ of this forum.

I hope no one else reads that, it would bring the house down..................🤣

[chilli42]

As I see this, the changes being contemplated are designed to benefit the top 0.5-1.0% of wealth holders … like K. Taksin and his buddy’s. These people make the rules to benefit themselves. There is nothing in this for the other 99% of Thai’s, other than higher costs and putting at risk housing affordability for future generations.

[quake]

58 minutes ago, Dobbsie58 said:

I am astounded that any Farang would invest their money in Thai real estate given its a classic case of they want your money but don't really want you to own anything. Renting is the best option if short term leases are the only other option - buy in your home country where you have absolute title and offset the income against the rental here 

 

and it's ok,  to do both. 

[BarBoy]

17 minutes ago, Ralf001 said:

<deleted> me Trans Man.... you lower the collective IQ of this forum

Nah Ralf.

 

It's definitely you that does!

[bradiston]

59 minutes ago, Nid_Noi said:

You don’t need 3 rai for decent house. We have a 400 square meter house on one rai of land. Enough land for 60 square meter pool and 1100 square meter garden, enough to keep a gardener busy 3 days a week. The car port on the edge of the driveway is enough for 2 small cars.

I managed to build a 3 storey house with a small pool and a nice individually maintainable terraced garden, big trees (neem, mango and champa), a well and complete house filtration system (3x2000 litre tanks) on 400 sq m (1 ngan, quarter of a rai). Yes, I would have liked an extra 400 sq m for the garden sure. So 1/2 Rai would have been ideal. House had terraces and balconies, and a lot of space, by my standards. As you say,big garden, big maintenance, and a lot of fencing or walling. A European's money goes 10 times further here than back home. That's the beauty of it. Why not compete with Spain, Turkey, Italy etc etc in the second home, holiday home, retirement home market. It's huge! If I recall, letting out your home does not required a work permit, but sure, over certain amounts of income, and you'll need to declare it. But generous allowances are available.

[Ralf001]

Just now, BarBoy said:

Nah Ralf.

 

It's definitely you that does!

 

if you say so Bob.

 

so where in Thailand do you live ?

[Ralf001]

4 minutes ago, bradiston said:

I managed to build a 3 storey house with a small pool and a nice individually maintainable terraced garden, big trees (neem, mango and champa), a well and complete house filtration system (3x2000 litre tanks) on 400 sq m (1 ngan, quarter of a rai). Yes, I would have liked an extra 400 sq m for the garden sure. So 1/2 Rai would have been ideal. House had terraces and balconies, and a lot of space, by my standards. As you say,big garden, big maintenance, and a lot of fencing or walling. A European's money goes 10 times further here than back home. That's the beauty of it. Why not compete with Spain, Turkey, Italy etc etc in the second home, holiday home, retirement home market. It's huge! If I recall, letting out your home does not required a work permit, but sure, over certain amounts of income, and you'll need to declare it. But generous allowances are available.

lol, you have a terrace garden.

[transam]

3 minutes ago, Ralf001 said:

 

if you say so Bob.

 

so where in Thailand do you live ?

First IP's, now addresses, now come on Ralfy, folk here will begin to talk..............

[bradiston]

Just now, Ralf001 said:

lol, you have a terrace garden.

Terraced, not terrace. Yes, the land was on a slope. I had to terrace to prevent soil erosion. My Thai builders did a superb job. The terraces are still solid after 15 years. I back filled with elephant poo from a nearby elephant sanctuary which disappeared years ago. Thailand is like a giant greenhouse.

[Ralf001]

Just now, bradiston said:

Terraced, not terrace. Yes, the land was on a slope. I had to terrace to prevent soil erosion. My Thai builders did a superb job. The terraces are still solid after 15 years. I back filled with elephant poo from a nearby elephant sanctuary which disappeared years ago. Thailand is like a giant greenhouse.

 

Yeah cool, my back yard is 400sqm and flat.

[thailand49]

Nothing more than to drive up the prices this only being supported by the rich Thai land owners.

[notrub]

Look at UK and Russian investors.  This country would be bought up in a heartbeat.  How can Thailand open its doors to countries at war.  Russia and Israel, for example.  

 

Russia in particular has released prisoners from jail to fight in their illegal war.  If a 'soldier' survives they are free to go.  Go where?  Thailand seems a good deal.  These people are killers who have no regard for civility and have no fear.  Last year a Russian person was given a 500b fine for kicking a pregnant shopkeeper in the stomach.

 

How many have visited southern provinces lately?  Hotels are posting Russian, as the language of the property ahead of English, French or any other.  Staff are not Thai and many do not speak Thai.

 

Opening the doors to cash rich foreigners will enrich the wealthy, not the public at large.  Beware.

 

 

[hotchilli]

1 hour ago, BarBoy said:

scared of competition are they??

No, they've witnessed what happens in other countries and don't want the same outcome

[transam]

6 minutes ago, Ralf001 said:

 

Yeah cool, my back yard is 400sqm and flat.

Mines 4000sqm and flat, and doesn't smell of p_ss............

[BarBoy]

13 minutes ago, transam said:

First IP's, now addresses, now come on Ralfy, folk here will begin to talk..............

He's obsessed with me. And he keeps confusing me with this guy called Bob.

 

I don't know any bob and my name is Colin Neville and I live in LOS.

[khunPer]

Allowing foreigners to buy property beyond the present rules won't benefit Thais that want to own their home.

 

It seems like yet one more attempt from the government's quick cash flow to recover the financial downturn after Covid closure. Where increased tourism might not have long term downside – apart from infrastructure and over-tourism – the property market might be more difficult in long term if prices are sky-rocking, so many Thai citizens cannot afford to buy a home.