Govt floats long-term land leases for foreigners

[Shawn0000]

15 minutes ago, mrfill said:

'Long-term' usually has one of two meanings in Thailand

 

a) For the populace - a period of more than 2 hours (having paid the appropriate bar fine)

and

For the authorities - until we change the rules again.

 

I guess this fits into category b

 

Category a is not so much for the populace but for your grubby sexpat mates.

[Shawn0000]

31 minutes ago, little mary sunshine said:

YES

 

Both Malaysia and Brunei?  I don't know anyone who has relocated to either, plenty to all the others where you also can't buy land though.

[free123]

3 hours ago, NCC1701A said:

seeing how Farangs can lease land 100% legally for 30 years now, I don't really see how this will change things except for business owners who are very young and can see the future.

 

and you cannot legally own land in Thailand, no matter how any people tell you that you can.

 

 

too much corruption here....somebody want to make problems to you they kick u out of the country in no time to steal  your land...( developers, relatives, a greedy neighbour )..happend thousand times...rent is best...or u buy house for your wife and be sure this money is gone forever.... jealous people here a lot

[BEVUP]

2 hours ago, Rimbuman said:

They can always kill you ;-)

Exactly, technically it may stave of buyers but i've seen it from my own eyes that the owner can mortgage (signed over Chanote ) (loan shark) not a bank & when fail to pay because family comes first the loan shark rides up on his bike & threatens to sell (not giving a crap about the Usufrut ) & did get buyers a 3 mill poperty for 1.5 mill

So remember if you see the bike riders hovering around no doubt debt collectors

[whoareyou]

too much corruption here....somebody want to make problems to you they kick u out of the country in no time to steal  your land...( developers, relatives, a greedy neighbour )..happend thousand times...rent is best...or u buy house for your wife and be sure this money is gone forever.... jealous people here a lot

Nonsense. Happened a thousand times. So should be easy for you to provide 20 links? Okay lol let's make it 10 LINKS should be plenty on TV.

Yep thought so LMAO!

 

[TheSwede99]

There is already the possibility to lease the land for 30 years, increasing 20 years makes little difference.

[Bantex]

Come to Thailand and buy your own property and land for life or until the Thai Government decides they want it back and you out of the country but only after they get your money.

[vagabundo]

45 minutes ago, Paruk said:

In France and Spain you can "buy" land, but you have practically no saying at all in what happens on it. What's the point then of "owning" it? Aha, another PTB shake down scam.

What are you talking about? In Spanish Costa del Sol there are many people who are buying the land, building few villas on it and selling them with a nice profit. Thats exactly the way I was making money in the last 10 years. You can do whatever you want on your land as long as your activity there is compatible with the local building plan, which means you cant build the factory in the middle of residential, area, obviously :)

To the topic:
Speaking of Thai regulations - I see that there are many problems with land, so no point to be mad at something you have no influence on. There are many amazing condo buildings where you can find anything you wish and afford. From THB 3M to stratospherical 600M+ without any problem. You will be the 100% owner  on paper and in reality without any needs like company, wife, leasings or other crazy stuff.  
In my opinion the bigger problem in Thailand is the car market and 100%+ of tax for some crazy reason. But this not the place to talk about it. 

[oldlakey]

1 hour ago, Wake Up said:

Many malls and office buildings are built in the USA on 99 year leases. Wealthy people don't like to sell land and it is a way to make sure their ancestors cannot squander the fortunes and a great estate planning tool. Step in the right direction for Thailand but 50 years not long enough. I am sure many guys who never had anything will comment how stupid it is as they think they know it all when they really show their ignorance daily with their comments. 

how can a ancestor squander your fortune

[davidst01]

2 hours ago, spermwhale said:

I've heard the weak arguments that if land is available to foreigners then they will buy it all and thais won't be able to afford it. That's never the case and it won't happen. 

You can't take the land out of the country. 

Additionally, even if I could, I'd never buy a house here. I've seen homes sitting empty in my high-end mooban since I moved in there 13 years ago... the whole time with for sales signs on them. 

The only place where a home may increase in value is in and near the city center, but in the suburbs, it's a bad investment... not to mentioned the fact that homes here in Bangkok are always sinking and constructed so poorly you have to do major renovations on a regular basis. 

I had  a home in the US that was built in the 1950s and it was solid still when I sold it in 2003. That would never happen here. 

 

I have to agree with some of your comments above. Ive seen many empty houses here. A lot of them owned by farang. 

 

We are renting a high net worth home with amazing views. Its the best street in town. The owner said she's had a few offers on the place but she's not going to sell. The moral to the story is that if you buy a premium property in any location you can always sell it. 

 

The worst thing you can do is buy in one of those ugly villages where all the houses look the same. You have to put up with inconsiderate neighbours and barking dogs. Heaps of empty houses in that set up

[moe666]

2 hours ago, griedarw said:

Long term Back to back leases are not actually legal. You can definitely get them, lots of Farang have them (as you can see from some of the replies above).

However, should the Land Owner wish to be "difficult", the back to back lease can be challenged and revoked.

no one has a 30-30 back to back lease as it will not be approved only 30 year lease registered with the land office

[tomacht8]

5 minutes ago, free123 said:

too much corruption here....somebody want to make problems to you they kick u out of the country in no time to steal  your land...( developers, relatives, a greedy neighbour )..happend thousand times...rent is best...or u buy house for your wife and be sure this money is gone forever.... jealous people here a lot

Or give the money for the land purchase your mother-in-law.
Let she buy the land. Then rent the land from her for 30 or maybe soon 50 years.
2 weeks later, the mother-in-law can then give / pass the land to your Thai wife.
This should only be done, if one is sure that the family functions.
Not everyone has luck with his Thai marriage, but there are also many where it works.
And if you have common children, then they can/will inherit.
I would not necessarily say that rent is always the best.

[impulse]

29 minutes ago, theguyfromanotherforum said:

No, not the same at all. Not even close.

 

The differences being?

[SoilSpoil]

Just have a look at Hong Kong or Taipei and then pray that Thailands policies stay the way they are. The Chinese would purchase the entire coumtry.

[vagabundo]

6 minutes ago, Paruk said:

"but you have practically no saying at all in what happens on it"   ----> "as long as your activity there is compatible with the local building plan". That's where I'm talking about and much more. Your 10 years didn't teach you a lot, obviously.

So what would you expect? That the real ownership means that you can built for example the sewage treatment plant between  two 5 million Euro villas? :) 

Edited March 24, 2017 by vagabundo

[dave_boo]

1 hour ago, impulse said:

 

Perhaps they're taking a lesson from the Palestinians, who let some Jewish folks buy a little land.

You mean sell land to people and then try to scam it back by waving some old keys around?

 

Or do you mean sell land that they may or may not hold the title to (due to ottoman land laws) and then wait for improvements and attempt a genocide of the landowners? 

[impulse]

2 minutes ago, dave_boo said:

You mean sell land to people and then try to scam it back by waving some old keys around?

 

Or do you mean sell land that they may or may not hold the title to (due to ottoman land laws) and then wait for improvements and attempt a genocide of the landowners? 

 

Leaving aside for a moment the veracity of your characterizations, do you figure the locals here are any more ethical?  Or that there's no possibility it could end just as badly for them?

[moe666]

Land ownership comes up every couple of years here, and I always wonder why. Why not rent and put your extra capital in the Thai stock market a better return and no hassel about up keep and mowing lawns

[impulse]

23 minutes ago, oldlakey said:

how can a ancestor squander your fortune

 

Mine did.  Unless you were born rich, so did yours.

 

Ya see 'em a lot on cruise liners, old farts spending their kids' inheritance.

Edited March 24, 2017 by impulse

[whoareyou]

Land ownership comes up every couple of years here, and I always wonder why. Why not rent and put your extra capital in the Thai stock market a better return and no hassel about up keep and mowing lawns

Yeah sure, stock are easy no risk just rock up and collect your dividends everyone making a killing lol

 

You were not around in 2008 I gather and plenty of chatter by gurus predicted the last collapse suggesting next one is very very close.

 

The downside of being liquid quickly is that the market will take it just as quick

 

But I'm impressed by the thousands of successful day traders in Thailand. Most with a 5k budget and that's baht trading account. Met dozens LMAO

 [emoji23] [emoji23] [emoji23] [emoji23]

 

 

[tandor]

3 hours ago, griedarw said:

Long term Back to back leases are not actually legal. You can definitely get them, lots of Farang have them (as you can see from some of the replies above).

However, should the Land Owner wish to be "difficult", the back to back lease can be challenged and revoked.

...i think i will go for a 'pre-paid' bulldozer 'instead of a 'pre-paid funeral.'.and have them come in and flatten my house the day after I'm incinerated...if things go to sh*t.

(PS I'm not married and don't have any dependents).

Edited March 24, 2017 by tandor

[oldlakey]

21 minutes ago, impulse said:

 

Mine did.  Unless you were born rich, so did yours.

 

Ya see 'em a lot on cruise liners, old farts spending their kids' inheritance.

You might want to look up the difference between, yours and theirs

 

[Jonathan Fairfield]

Thailand studies leaseholds for foreigners, land windfall tax

 

 

Thailand is studying a law to allow foreigners to buy property through 50-year leasehold contracts and also to sell them, which would help boost demand for the country's property sector, the finance minister said.

 

Foreigners currently cannot sell leasehold property.

 

"The finance ministry is looking at this idea, which is highly possible," Apisak Tantivorawong told a seminar late on Thursday.

 

"If we can do it, the property industry will boom again because demand will come from all over the world," he said.

 

The ministry is also looking at a "windfall" tax on landlords and property owners, who benefit from rising prices driven by government infrastructure developments, Apisak said.

 

"We will tax on profits made from assets sold," he said.

 

Thailand's military government has ramped up infrastructure projects across the country in a bid to lift growth in Southeast Asia's second-largest economy, which has lagged its regional peers.

 

(Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Simon Cameron-Moore)

 

 

-- © Copyright Reuters 2017-03-24

[robblok]

48 minutes ago, Paruk said:

"but you have practically no saying at all in what happens on it"   ----> "as long as your activity there is compatible with the local building plan". That's where I'm talking about and much more. Your 10 years didn't teach you a lot, obviously.

What a strange remark.. there is zoning all over the world and of course you can't go against zoning laws. What is the logic of having zoning laws if people can go against them. Guess logic was never taught where you are from.

[Destiny1990]

Its very honest how this person admits that Thais can buy houses and land and businesses abroad but when foreigners come to Thailand it is another situation and should probably get more balanced out.I think the discussion and implementation  could lead to a booming property market.

Edited March 24, 2017 by Destiny1990

[Naam]

4 hours ago, canopus1969 said:

Foreigners may be able to actually own land in Thailand – even if it’s just temporary.

 

What a stupid statement - they would not own the land     

for the record: no natural person owns anything forever. like it or not... any ownership ends with death.

[kowpot]

Not worth buying land if I still have to do 90 day reports and do an extension of stay every year. They could deny it any time. So, where does that leave me? Sure I own the land, but I have to leave.

Also, if and when an elected government comes to power. They could also cancel any laws created by the unelected Junta.

[oldlakey]

4 minutes ago, Naam said:

for the record: no natural person owns anything forever. like it or not... any ownership ends with death.

I dont much care for the sound of that, I call for a second opinion

[wealthychef]

4 hours ago, eddie61 said:

 

 

Who the hell wants to retire in a place where they can be kicked out of their house, their adopted country, on the whim of a public official, their wife, or their kids.

 

People without a home, a wife or kids.  People with no assets.  This is why Thailand is swimming in drunk white guys that just want to screw the young ladies.  Treat people like s**t and you get s**tty people flowing into your country. 

[mrmicbkktxl]

What's the point of leasing a property for 30 or 50 or 100 years if your visa has only 1 year validity????They changing the rules whenever they want to,and most of the time those changes are not in favor of the foreigner.As long they don't issue long term visa I would not sign a contract longer than 1 year.

I think they had here an investment visa 10-15 yrs ago[buy a condo for 3million up and get a visa and extension guaranteed]but stopped that after enough foreigner bought condos.