Govt floats long-term land leases for foreigners

[kannot]

7 hours ago, Naam said:

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

Unfortunately most of the world "believe" death isnt the end................but of course we're entering the realms of  the "unnatural"

[steven100]

In simple terms ... 

you can lease land .....    you cannot buy and own land.

[williamgeorgeallen]

12 hours ago, Mickmouse1 said:

Invest in LOS with Thai ownership of your property that can send u back home high n dry.

 

I would rather have/register  a company that owns the land ?

i would rather not own anything in thailand. i have owned property using many different methods, not that i really ever owned it. even managed to sell up and get my money back. i am one of the lucky ones. thais do us a favor by trying to stop us from owning land in thailand. guy says it is unfair how thais can buy in other countries but we cant buy in theirs then offers a lease. what a load of bull$hit.

[williamgeorgeallen]

everyone should be able to own their own house where they reside. that country should offer residence as long as they prove the means to support themselves and follow that countries laws. pretty simple and fair. not going to happen of course.

[pizzachang]

Lots of talk about "owning land".  You had better pay the property tax in the USA (except for a few enlightened states) or you quickly find out how "land ownership" is a nebulous thing.  This "tax-year" in my former home state ""land value" went up - an arbitrary decision by assessors that had little to do with free market land values.  You only own something that can't be taken away from you. That is a very short list, in this world.

[hawker9000]

13 hours ago, dotpoom said:

Get your point...myself though, I have some property in my name but I don't see it like  I own it, I see it like I have the use of it on a daily basis. When my time is up....someone else will have the use of it.

Not much better than a paying squatter then.

 

Less with this latest brainstorm than meets the eye.  Thanks, but no thanks. But I'm biased.  Not a whole lot I'd pay to own here, anywhere near the asking price, even if I could.

Edited March 24, 2017 by hawker9000

[maewang99]

add on top of everything else.... demographics

 

they will need to ****seriously**** raise land taxes to pay for the health care schemes.... not as far off as they say.... or don't say at all...
 

and demographics also means 'they ain't making land anymore' becomes you can't take it with you + neither can anyone else. 

being fungible will rule the day.... more and more. and getting some kind of real return while you spend it down... instead of paying a tax....

that's what equities are about.  the Swiss get it.  that one ain't anywhere near a bubble yet... and not locally either... although there are a few exceptions. of course.
 

Edited March 25, 2017 by maewang99

[anotheruser]

13 hours ago, eddie61 said:

I think it only a matter of time until this happens, I mean full ownership of a single property.

 

I think even the stupidest people learn, its just that the rest will be ahead of them when they get the message.

 

In this respect, Thailand will wake up when the retirement business in Malaysia Vietnam is booming, and they realise how much money can be made.

 

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.

 

You really think they will let you have your cake and it eat too? Let's say they do allow land ownership. 

 

They em will undoubtedly have some strings attached with having money in the bank, or insurance or something else.

 

i will eat my words if they ever let Farang straight out purchase land with out any crazy conditions involved.

 

if they did what would be funny is all the married guys who trust their wives trying to talk them into putting the house into their name. Lol

 

"honey I trust you with all my heart could you sign some papers for me?

 

Never in a million years will the Thai government make it that easy. 

 

 

[simon43]

Although clearly not on the same scale as the problems that Colin Vard had, I was forced out of the 4th little hotel that I built in Phuket by a drug dealer and bent police who supported him.

 

I had a long lease on the land in my sole name, but that meant nothing 'on the ground'.  I still legally had the right to stay on the land that I leased, but with threats against my life, I choose to chuck it all in and relocate to Myanmar last year.

 

30 year lease? 50 year lease? 99 year lease?  It means absolutely nothing when the police are corrupt and foreigners are treated as second-class (third-class?) citizens.

[DBT]

Correct me if I am wrong

 

I believe the 40 million baht investment program is still available through the bOI and ministry for up 1 Rai  ownership of land for a foreigner for personal home dwelling use with other conditions as stated by the ministry.

[anotheruser]

10 minutes ago, simon43 said:

Although clearly not on the same scale as the problems that Colin Vard had, I was forced out of the 4th little hotel that I built in Phuket by a drug dealer and bent police who supported him.

 

I had a long lease on the land in my sole name, but that meant nothing 'on the ground'.  I still legally had the right to stay on the land that I leased, but with threats against my life, I choose to chuck it all in and relocate to Myanmar last year.

 

30 year lease? 50 year lease? 99 year lease?  It means absolutely nothing when the police are corrupt and foreigners are treated as second-class (third-class?) citizens.

 

Feelung pretty happy you turned down me offer with a big down payment on that place. Lol

[harada]

I was given some advise about 30 years ago by a guy who had lived in Thailand for a number of years and that was to only invest what you can afford to loose ( in Thailand ) and from what I've seen since then it was good advise.

[SoilSpoil]

The property market has been quite generous to us with land prices going up. But what do I care whether I can own land or not, the value it represents will go to the kids anyway. 

[garyk]

Sounds good for big business. I bet many will take advantage of it.

As far as an individual spending there hard earned money? Leasing and building on leased land. Sounds great for the Thai's. 

As the saying goes, only spend here what you can afford to throw away. Because it is a total loss.

 

 

 

[anotheruser]

1 minute ago, SoilSpoil said:

The property market has been quite generous to us with land prices going up. But what do I care whether I can own land or not, the value it represents will go to the kids anyway. 

You are right. I never saw the value of being to own a home in my own name. Typing that in a forum helps me feel better about my position. 

 

I know now what you mean but in real countries such statements sound bizarre. 

[bbbbooboo]

15 hours ago, Raymonddiaz said:

just another way to fool these bloody rich farangs!

hmmm....... I agree

[kcpattaya]

And then so what?
Another fruitless initiative.

 

[Thailand]

10 hours ago, Jonathan Fairfield said:

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

I thought there was no restriction on foreigners "selling" their leased property? Can be transferred or bequeathed also?

 

The current 30 year "Extendable lease" may be transferred to the new foreign owner or if in the case of a Thai buyer outright title? I know of two very recent "sales" to foreigners in my moo baan alone. So this 50 year lease is nothing new.

 

The Thai property industry would not simply boom but explode if they actually do what is necessary and allow foreign ownership, After all, the land is not going to be shipped overseas in suitcases and containers is it?

 

And they could always do a Mugabe and change the law later to take the land back.

[heybuz]

Does this mean that if ratified i can sell my house and land presently occupied by my ex wife. My deed says my ex had no money to purchase said property and she signed control over to me.Or is this a petr paul and mary, Blowin in the wind.

[captspectre]

I thought that a foreigner buying a condo DID already have a fifty year lease!  so what's  new?

[johnno2]

to be delivered at the same time as the 10 year visa ie don't hold your breath waiting for it to happen

[hansnl]

12 hours 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.

Old farts spending their own savings, spending their own pension, enjoying their life, you mean?

Where do you get the idea you have a right to get an inheritance?

You did not work for your parents money, they did.

Actually, during your early years they did already spend a lot of their money on you.

Did you pay that back?

Edited March 25, 2017 by hansnl

[dotpoom]

13 hours 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

I feel sorry that you seem to have had many a bad experience over here and none of the fantastic ones that make life just great, including going home to a pad where you are surrounded with pics and stuff hanging on the wall of your loved ones and whatever....something you cannot do in a rented room. 

[rooster59]

Govt may extend land-holding right of aliens

By THE NATION

 

THE FINANCE Ministry has been studying ways to amend the law to extend the length of time foreigners can hold land and property in Thailand to 50 years from the present 30 years in order to boost the real-estate sector.

 

They would also be able sell the holding rights during the period, Finance Minister Apisak Tantivorawong said on Thursday. He added if the amendment went through, it would revitalise the property sector.

 

The ministry has also studied ways to collect tax from those benefiting from state investment in transportation mega-projects. One beneficiary is the real-estate business, and such parties should be subject to taxation, so that the government can collect revenue to finance other infrastructure projects. 

 

Apisak said some countries already have such a measure in place. Investment by those governments has stimulated many businesses, which in turn should do their part to add to government revenue.

 

He said the Thai government had introduced several measures in the past to support the property sector.

 

He also noted that the government had launched the Pracha Rath housing projects to serve low-income people and invited the private sector to support these schemes. However, there has been a lack of enthusiasm from the private sector.

 

Apisak said his ministry wanted to see the land and building tax come into law within the term of the current military-led regime, which would enable the local governments to gain additional tax revenue by Bt60 billion from what it could currently collect at Bt20 billion per year. 

 

The Cabinet has already approved the bill.

 

Source: http://www.nationmultimedia.com/news/business/EconomyAndTourism/30310211

 

 

-- © Copyright The Nation 2017-03-25

[12DrinkMore]

44 minutes ago, hansnl said:

Old farts spending their own savings, spending their own pension, enjoying their life, you mean?

Where do you get the idea you have a right to get an inheritance?

You did not work for your parents money, they did.

Actually, during your early years they did already spend a lot of their money on you.

Did you pay that back?

 

The trend is well on the way. Taking out debt against property and incurring credit card debt by the old farts.

 

There will be a lot of young brats disappointed by the old farts.

 

http://finance.yahoo.com/news/americans-dying-average-62k-debt-110000416.html

 

Quote

Americans Are Dying With an Average of $62K of Debt

 

[12DrinkMore]

1 hour ago, captspectre said:

I thought that a foreigner buying a condo DID already have a fifty year lease!  so what's  new?

Wrong.

 

Nothing.

 

[AGareth2]

it wont happen

[StevieAus]

16 hours ago, lavender19 said:

With the amount of expat upping  sticks  and leaving this sinking ship of a country . They will need a bigger float than this

 

I would be interested in seeing the figures to support this statement unless it is those who are not entitled to be here legally

[Grubster]

I don't want to own land here, my wife owns our land and if she ever gives me the boot I will just move on. I guess there is a fifty/fifty split with divorce, but I would not pursue this anyway. I will just try to be as happy as I can while here.

[12DrinkMore]

1 hour ago, heybuz said:

Does this mean that if ratified i can sell my house and land presently occupied by my ex wife. My deed says my ex had no money to purchase said property and she signed control over to me.Or is this a petr paul and mary, Blowin in the wind.

 

You may have misunderstood what was in the declaration.

 

Everybody I know had to declare that "no money came from the Farang" and the property is 100% Thai purchased and owned. Which is the exact opposite you state.

 

You might possibly get 50% of the property from the split of divorce assets provided you can prove that the money came from you. But as always, YMMV because TIT.