Professionals urge Thai government to introduce incentives for foreign homebuyers

What has happened? Developers and consultants want the new Thai government to take steps to create a favorable environment for foreign investment and encourage overseas property buyers.

Quote. Artitaya Kasemlawan, head of residential sales projects at consultancy CBRE Thailand, said the country should have policies to stimulate foreign purchases in the property market, including promotion of these policies to raise awareness.
“Thailand is a very desirable destination for foreign buyers. If there is confidence in both the global economy and foreign buyers, combined with the presence of attractive measures, potential buyers will rush to buy property in Thailand,” the expert says.

What is the offer? Ms. Artitaya said that many new luxury condominiums have been built on on leasehold plots in Bangkok's central business district, which now offer leasehold periods of 58-59 years.
The period was changed, she said, because existing 30-year leasehold rights were no longer attractive.

For low-rise houses, which most foreign buyers bought for their own use, extending the leasehold period to 60 years would attract more foreign demand, said Ms Artitaya.
"Foreigners can buy a low-rise house if they have a business or a company in Thailand. Not all of them have a business," she said.

"Extending the leasehold period to 60 years is good, but 90 years will greatly simplify the decision-making process for buyers."

Source: Bangkok Post

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