SURVEY: Should Foreigners be Allowed to own Property?

Scott · May 14, 2015

This week we are looking at the issue of ownership of real estate. In your opinion, do you think foreigners should be allowed to own property? Do you think that allowing foreigners to buy property will greatly inflate land prices, for instance? What effect do you think it would have on the country, the people, and the culture?

Please feel free to post your comment on the subject.

chooka · May 17, 2015

My wife owns 3 investment properties in Australia 100% and not 49% (land and buildings) but I am forbidden from investing in Thailand. There should be laws that if a farang is banned in Thailand then Thais should be banned overseas. Won't happen tho as other countries welcome foreign investment no matter how small.

aussiesteve63 · May 17, 2015

I feel that we should be able to purchase a house block up to 2 rai as it would give many of us A better sense of security.

NickJ · May 17, 2015

Perhaps a single family home if lived in by the owner. No investment or commercial property.

thehelmsman · May 17, 2015

Thailand should not allow foreigners to own property. In the USA as well as many other nations anyone can buy property...anyone. Doesn't matter if your an illegal alien or who you are. No, as much as I'd like to own land in Thailand under my name, I understand why it's not allowed.

Jessi · May 17, 2015

If Thai's are allowed to own real estate in any foreign country then foreigners from that country should be allowed to own property here in Thailand.

This will never happen because Thai's fear that foreigners want to own & control their Country.

NeverSure · May 17, 2015

I don't think that anyone should be allowed to by land where he isn't a citizen. I've watched the issues in Ecuador where much is mountainous and good land is scarce. Foreigners including expats have bought so much of the good land that the locals can no longer afford any for themselves.

There's always some disparity in income with wealthier people seeming to like to buy up land in poorer areas. They often don't care if they get a return on investment until they sell, hoping for appreciation. There's even that dynamic in the US and Canada where there is a lot of land but rich people from big cities buy a farm while they are on vacation and then lease it to a poor farmer on a share crop basis. The word "sharecropper" has always had a negative connotation - meaning a poor farmer.

When there is more and new demand chasing the same supply of land, prices go up and make it almost impossible for a farmer's children to buy land or for the farmer to increase his holdings. The price shouldn't be based on speculation but rather on what it can produce. That can happen only when the producers are the interested buyers.

manarak · May 17, 2015

I think foreigners staying in Thailand long term (work, retirement) should be allowed to buy personal residential property.

I think the current quota in condos makes sense, but I would also add an allowance of say a couple of rai of land - still for strictly residential purposes and in designated residential areas.

Large luxury estates should be subject to tax (wealth tax, NOT land tax).

Edited May 17, 2015 by manarak

shirtless · May 17, 2015

Western countries should make a reciprocal law for Thais but our selfserving diplomats wont rock any boats on its citizens behalf because they dont want to compromise their future income stream, All created while being paid by the taxpayer.

Badbanker · May 17, 2015

Unfortunately for foreigners to openly own land you will have to change the national anthem as a section of it is rendered variously as saying:

Nation of the people; belonging to the Thais in every respect. Land of Thailand belongs to the Thais. Every inch of Thailand belongs to the Thais.

Many Thai people consider it is their nationalistic duty not to cede the land of Thailand either to foreign nations or to foreigners.

SoilSpoil · May 17, 2015

With more and more mixed marriages and families, it is only common decency that foreign fathers (or mothers) and husbands should get a chance to invest here. I have a wife and kids, who have 2 passports, and want to invest in their future. What if I end up alone when I am 80 years old, or what if my wife decides to leave me? Our position here is fragile, but we cannot complain as we knew this from the start.

My hope is that a volatile economy and real estate will lead one day to different rules, I hope that money/greed will prevail over nationalism and foreigners will be allowed to buy up empty units or homes (for personal use) one day. We keep some of our assets outside of Thailand because of this. I wouldn't mind bringing it in and spend it. Now we basically have our feet in 2 countries and will logically keep that option open. A shame, my wife an I want to invest more here the but our wings are clipped.

chooka · May 17, 2015

Unfortunately for foreigners to openly own land you will have to change the national anthem as a section of it is rendered variously as saying:

Nation of the people; belonging to the Thais in every respect. Land of Thailand belongs to the Thais. Every inch of Thailand belongs to the Thais.

Many Thai people consider it is their nationalistic duty not to cede the land of Thailand either to foreign nations or to foreigners.

A bit like that nasty spoilt child who won't let others touch his toys but will take the other children's toys

z42 · May 18, 2015

Interesting topic. I personally see the angle the powers that be are spinning here. Having laws that allow foreigners to own land outright is too open to exploitation and those with the means to buy up loads of it likely would.

Many posters here would in most cases i imagine be content to own 1 small piece of land with their thai wives and kids living there.

I think more openness and accepting attitudes from the govt regarding this should be forwarded. And sronger punishments for those abusing such rules enforced. My 2 cents

pinkpanther99 · May 18, 2015

Foreigners can own property in Thailand, they just can't own the land it sits on.

As a foreigner, of course I think I should be able to own land/property 100% in my name in Thailand. Providing I have the funds to pay for it, I don't see why I shouldn't be able to be the rightful owner.

However, this is Thailand and I don't expect its stance on foreign land ownership to change any time soon!

And to an extent I can partly understand why they want to hold onto their land, although they are missing out on huge investment potential.

What I would like to see is that foreigners who work here legally or have kids here be entitled to purchase up to say 1 rai of land 100% in their name.

canuckamuck · May 18, 2015

Special zones could be arranged where 1 rai plots could be purchased. Economically there would be some benefit to the country.

DavisH · May 18, 2015

If Thai's are allowed to own real estate in any foreign country then foreigners from that country should be allowed to own property here in Thailand.

This will never happen because Thai's fear that foreigners want to own & control their Country.

I think its more likely that land prices will sky rocket out of the reach of ordinary Thais. That's a valid concern. What would minimise purchases would be limits on the amount and usage of land purchased. Also, said owner should live in the house and have adequate income/pay taxes, etc. This would eliminate many investors who buy land / house, but don't live in them.