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Calls Grow for Stricter Controls on Foreign Condo Purchases

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Thailand is facing renewed debate over foreign condominium ownership as the government considers increasing the current 49% quota in some developments. Supporters believe the change could attract overseas investment, improve market liquidity and help developers sell a large stock of completed units. Critics are concerned about speculation, housing affordability for Thai residents and the long-term consequences of allowing greater foreign control. Property expert Dr Sopon Pornchokchai noted that foreign buyers represented less than 20% of condominium purchases last year and relatively few projects had reached the existing limit. He nevertheless recommended stronger safeguards, such as residency requirements or minimum purchase prices, rather than simply expanding the quota without additional conditions.

Cue the "Anutin doesn't like dirty farangs" comment.

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