Thailand property reforms target foreign buyers

Thailand property reforms target foreign buyers

Thailand is debating property law reforms to attract foreign investment, proposing measures like raising the foreign ownership limit in condominiums from 49% to 75% and extending land leaseholds to 90 years. Proponents believe these changes could boost the sluggish economy by revitalizing the real estate market. Critics, however, warn of risks to national sovereignty, inflated property prices, and foreign influence over Thai property. The Housing Business Association suggests safeguards, such as minimum property prices for foreign buyers, higher taxes, and restrictions on property management roles. The reforms aim to balance economic benefits with public concerns, but their success depends on careful implementation.