Does property ownership in Thailand provide any advantage to apply any kind of residence or long stay visa?

Foreigners cannot own land in Thailand. Having said that, if you have 40 million baht to invest something can be arranged through the BOI. For an investment of 10 million baht immigration can grant you a 1 year extension of stay.

Edited July 16, 201016 yr by InterestedObserver

As said. A 10 Million Baht investment will get you a 12 month extension of stay.

I thought they'd done away with the investment visa?

EDIT: Woops, just ignore me, I see that they reintrouduced it and raised the amount you have to invest.

Edited July 16, 201016 yr by inthepink

Some consultes wil issue a multiple non-O visa based on that, but you will not get yearly extensions of stay from immigration.