More Protection For Buyers Of Condos

[guava]

I wonder what it is exactly that our wise and powerful overlords fear the most about any condo building falling 50%+ into the hands of the foreign devils from abroad.

Is it the fear that they'll have the numbers to give the body corporate grief about financial accountability, nepotism, or basic failure to deliver adequate services and perform overdue maintenance? Or is it just the fear that the invaders will get a taste for it, and before you know it they'll be running the country, forcing everyone to buy their Toyotas, BMWs, and Nokias, forcing them to watch their football on every sports channel, and cover their tuk tuks in Liverpool stickers.

I understand (though absolutely do not agree with) the xenophobic thinking behind prohibiting freehold land ownership, but with condos surely the same flawed "logic" does not apply. Maybe I'm missing something obvious here.

I predict the 49% rule will be the catalyst for a chain reaction triggering the financial meltdown that will spell the end of life on this planet as we know it.

On second thought, maybe it will just continue to have absolutely minimal effect of the vast majority of condo purchases in Thailand for the vast majority of people.

Just as an aside here, seems a number of people read "foreigner" or similar terminology and immediately assume foreigner=farang. Or "Fereng" as the case may be. Japanese, Chinese, Koreans, Singaporeans, (some) Indians etc etc, are also foreigners.

Aside #2 - "The Rich" - top 5 best development names ever! Front fence does seem a little understated and tasteful for my money though - more watch tower turrents and some stone lions please.

[gusalf]

it looks like thai love that famous 49% rule all for everything...

when will they understand that buying land by a foreigner does not remove the land from the country.

they should have a look how spain did rise after franco, they had their arms open for foreign investments and see where they are now

Yes indeed see where Spain now is. Property prices falling at a frightening rate and the government 'land-grabbing' - bulldozing homes !