Land reform...foreign ownership.

[wolf5370]

We are all waiting with baited breaths on news of what these land/condo/lease law changes will be now LOS has shread its IMF shackles as it where.

Is it any wonder when it is said that over 75% of all privatly owned land is in the hands of just 5 families. The Thai super-rich. They can take on anyone from LOS, because they can simply out buy them or pay for something nasty to happen to them, perhaps. How they must quiver when compared against American and Arab oil barrens, European businessmen or the likes of Bill Gates. Simple, make it illegal for them to compete.

[plachon]

Where did you get that figure from? i.e. 75 % of land owned by just 5 families? I've read before in a Bangkok Post editorial that 90 % of the land is owned by 10 % of the population, but then there's over 60 million people in the kingdom, which is a lot different than just 5 families owning three quarters.

However, neither of these stats seem to tally with my general observations in Isaan that most families own at least some land, even if it's mortgaged up to the hilt and the documents are sitting in the "tor gor sor" or money lenders office. I know the situation re. land ownership for villagers is much worse in central and northern Thailand, but as Isaan makes up a third of the kingdom, then this makes the figs of most of the land being in the hands of just a few, still seem pretty unlikely.

I don't doubt for a minute that with the way things are going under this present administration that soon most of Thailand will be in the hands of the super-rich and it will be another Scotland/Ireland 200 years ago, with hungry villagers roaming the landscape, desperate to escape to somewhere else, anywhere else. Trouble is there are no Americas or other wildernesses to absorb them now and the walls are going up round the West.

[wolf5370]

I read it in an expat book - I'll try and find the exact one (I have many) - not saying its true which is why I said 'It it said that...'.

However, I know a few members of a powerful family - lets just say east central/north based. They are Chinese decent (4 generations ago I think). They own an awful lot of land, and hold the titles on much much more from loans to famers etc. One of the guys from this family told me a lot of this land ends up theirs for keeps as the farmer can not pay and so gives up on the land. No broken legs or anything, but a tidy little profit all the way. Many of these loans are just a few hundred baht! Most are low thousands. A lot of family land is lost that way.

They may be including the mortgaged land - I don't know.

I agree it is an amazing figure. It amazed me. That is why I posted it. Of course it also depends on what your definition of 'family' is - how extended and over how many generations etc.

[Sunbelt Asia]

The Thai Chinese and Indians own a lot of land in Thailand. Most of all lower Sukhumvit is owned by one Indian family. The Indians invest in land rather than put money in the bank. It’s worked out very well for them!

[Thetyim]

Maybe the indians are the real target then, and not us falangs

Maybe somebody will have a new title soon, something like

Dr Field Marshall President Idi Taksin

[plachon]

This whole issue of land ownership and how it is rapidly concentrating in the hands of a few super-rich Chinese-Thai families (and perhaps a few Indian-Thai ones in select spots), makes a mockery of the standard answer why farangs shouldn't be able to buy land. The answer I've always read and heard from people I've asked is that "farangs are wealthy and if they bought land, then Thais wouldn't be able to afford to buy any". But as the vast majority of Thais have already sold their land and will never be able to afford any land due to the artificially inflated prices which occurred during the last bubble and are now here again, then it is largely academic what effect a few farangs married to Thais would have on the price of land.

I do know though, that as not only me but my Thai wife can't buy any land legally and easily, that I will never assist her to buy an immovable asset which i will never have any rights to, which thus deprives Thailand of a potential revenue source, not only from the cost of land, but the cost of building a house and any other investment in the future I might make there. It's the country's loss, not mine, as the present system will cause the whole pack of cards to come tumbling down one day. Meanwhile, the present Minister of Health can enjoy her 727 plots (no exaggerration) of land.

[wolf5370]

I think that's the point exactly Plachon. The rich Thais (Chino-Thai/Indo-Thai/etc) are sitting happy and don't really care what happens to the country long term - they have so many irons in so many fires they will always be able to make sure thay are secure. As these are also the people in power - and/or the people that put people in power - there's not much chance of it ever changing.

[parryhandy]

i would say the stats are very conservative 99 percent of the fair size town i live in (isann north east village) is owned by 2 people (chinese descent).there is no land market as far as i can tell. why sell land when you can charge rent and therefore control the businesses on it ? theres a lot of houses sold without the chanod as well. there is farm land but this is worthless really and i would imagine theres plenty of ways too make the farmer sell it cheaply if the 2 people needed it.when you own so much land what can local small businesses do if they dont like the rents when everywhere is owned by the same people.is there a rent review board etc.. ha ha.

no taxes on unused land so why sell unless you get a massive profit out of it .

[Rinrada]

Had a quick word with khun wife about this one and she generally agrees that its pretty true although the families have probabally extended to more than just the 5.

It not too difficult to work out who they are since they tend to indeed be mostly Chinese/Thais (closed "chabol"type family setups ) and have their investments/involvements  with the almost all of the main Banks,the food services and distribution industries and finally the Building and Construction Congloms.

She mentioned one chap that she knows from schooldays (she is also Ch/Thai)who owns most of Sri Nakarin Rd and a big lump of bangna Trat plus other wee bits of Samut Prachan-dont talk about the Waste water supply contract.I would settle for a singha...which....talking about beers/breweries etc.. :cool: