Ghb Suggests 99 Year Property Leases For Foreigners.

[griffer]

"The GHB plans to talk with the Finance Minister about an extension of the leasehold period for foreign buyers from 30 years to 99 years, as it would increase the value of properties.

However, the rules might be stricter, such as higher taxes to prevent speculation. "

from Bangkok Post 15/12/06

http://www.bangkokpost.net/Business/15Dec2006_biz42.php

That would be an interesting move.....stricter rules, higher taxes ...hmmm??

[rocky]

Thailand will work it out that they will be able to charge the farang a tax for owning a lease on a property. Same was done in spain.

Never the less a 99 year lease will be ideal for me and many others living here. Lets hope that this does indeed arrive on the books.

Though condo ownership is 99 years,

[VanZam]

Thailand will work it out that they will be able to charge the farang a tax for owning a lease on a property. Same was done in spain.

Never the less a 99 year lease will be ideal for me and many others living here. Lets hope that this does indeed arrive on the books.

Though condo ownership is 99 years,

Condo ownership is simply buying into a business, I guess they don't expect buildings to last longer than 99 years.

I agree, this move would be a good one, the higher taxes would be minimal compared to the benefits of "owning" your land for 99 years.

[lannarebirth]

I'm not sure I understand. Would it be a 99 year lease that is transferred to subsequent owners with diminished term left. or does each subsequent owner get 99 years also?

[johnnyk]

This might be the best idea yet to clarify, remove uncertainty and keep falang dosh flowing in.

1) 99 years is tantamount to buying a freehold, only your grandchildren may be unhappy about it.

2) It provides the fig leaf for politicians to say, "The land is Thai-owned, we are not selling Thailand to falang".

3) A stiff capital-gain tax on a graduated time scale can effectively discourage speculation.

[Mobi]

I'm not sure I understand. Would it be a 99 year lease that is transferred to subsequent owners with diminished term left.

Yes.

or does each subsequent owner get 99 years also?

No.

99 year leases used to be common place in the UK. The term does not regenerate if the land is sold. I think they've faded away these days as the law has given the leaseholders rights to buy, but that would never happen here.

I personally doubt if the government will go for this. It wouldn't be popular, and they'd get a lot of stick from their detractors. It wouldn't be worth all the hassle to try to justify it.

[lannarebirth]

I'm not sure I understand. Would it be a 99 year lease that is transferred to subsequent owners with diminished term left.

Yes.

or does each subsequent owner get 99 years also?

No.

99 year leases used to be common place in the UK. The term does not regenerate if the land is sold. I think they've faded away these days as the law has given the leaseholders rights to buy, but that would never happen here.

I personally doubt if the government will go for this. It wouldn't be popular, and they'd get a lot of stick from their detractors. It wouldn't be worth all the hassle to try to justify it.

Thanks for the clarification. Certainly a nice idea, for our lifetimes at least.

[ovenman]

I personally doubt if the government will go for this. It wouldn't be popular, and they'd get a lot of stick from their detractors. It wouldn't be worth all the hassle to try to justify it.

Agreed. Nothing that I have seen/heard in the thirteen years I have spent in and out of Thailand would suggest that the Thai government is in any way interested in making the laws governing foreign ownership of property any easier.

[Casanundra]

Regardless of what Thailand finally does with it's land and it's laws... (I have heard people at the faculty saying that they should create ghetto's where farangs can only live )

Until they link up the rules of land ownership with those from immigration and actually allow foreigners to have a visa long enough here in order to allow them to live in the property with their Thai wife and childrne without the fear that one year they will get a visa refused and sent packing then it simply is a risky man's game to sink any kind of money into Thailand.

[Thaising]

Regardless of what Thailand finally does with it's land and it's laws... (I have heard people at the faculty saying that they should create ghetto's where farangs can only live )

Until they link up the rules of land ownership with those from immigration and actually allow foreigners to have a visa long enough here in order to allow them to live in the property with their Thai wife and childrne without the fear that one year they will get a visa refused and sent packing then it simply is a risky man's game to sink any kind of money into Thailand.

Spot on! That's what I'm going to say. Beside immigration they must also link up with other relevant government agency to provide foreigner with ONE STOP SERVICE.

Edited December 15, 2006 by Thaising

[Vespa]

Regardless of what Thailand finally does with it's land and it's laws... (I have heard people at the faculty saying that they should create ghetto's where farangs can only live )

Until they link up the rules of land ownership with those from immigration and actually allow foreigners to have a visa long enough here in order to allow them to live in the property with their Thai wife and childrne without the fear that one year they will get a visa refused and sent packing then it simply is a risky man's game to sink any kind of money into Thailand.

Spot on! That's what I'm going to say. Beside immigration they must also link up with other relevant government agency to provide foreigner with ONE STOP SERVICE.

Well said.

Owning property i.e. houses here is a total gamble - it would be nice if the gov. really does a total revision on the current mess that is in place right now.

The 30 year lease to be implemented on a chanoot needs to have the tax paid for it up front at the land office before it is issued.

This adds up depending on the amount specified for the 30 year term , wonder if they want the same to apply to the 99 year proposal.