Thailand Will Allow Foreigners to Own Land 

  • 19
But only under special conditions.

Thailand will allow foreigners full ownership of land for living, government spokesman Tanakorn Wangbunkongchana said. However, in order to obtain the land foreign byers must meet certain conditions.

Conditions. If the Cabinet of Ministers approves the relecant law, foreign citizens will be allowed to own a land plot of up to 1 rai (0.16 hectares) from September. Bur in this case, they need to invest 40 million baht ($1.09 million) in Thai real estate, securities or funds.

Thailand has remained a popular destination for investment, retirement, and small business start-ups among foreigners for decades. However, the ownership of land by foreigners was limited.

The scheme, which will be revised in five years, aims to attract more than a million wealthy people to Thailand by 2026, and thereby replenish the country's economy by 1 trillion baht ($27.25 billion), Tanakorn Wangbunkongchana said. The government expects the economy to grow by 3.5% this year and reach a pre-pandemic level in 2023.

Reaction. The proposal of the authorities caused a mixed reaction from the Thai public. Thus, the chairman of the Chamber of Commerce of Thailand Sanan Angubolkul says that the government should introduce additional requirements for foreigners who own land.

"Foreigners who have the appropriate privilege should only buy land in certain areas, first–hand, and resell them only to Thai citizens," he suggests.

Pornpana Kuaycharoen, the founder and coordinator of Land Watch Thai, wonders who benefits from this policy.

"These are rich people. Those who already own most of the land in the country will profit from its sale to investors and will further exacerbate the problem of inequality in land ownership in Thailand," the expert explains.

What you can buy in Thailand right now:
Flat for 47 901 euro in Pattaya, Thailand
47 901 €
Flat in Pattaya, Thailand
24 sq.m 1 1
Just launched, this new condominium will be constructed 500 m away from the famous Jomtien Beach. It will have it all: "Versace-style" design, 5 recreational zones, roof infinity pool, SPA and more. Fully furnished rooms. Studios, 1- and 2-bedrooms available. 4 years interest-free installment plan. First downpayment only 25%. Special...
Habita International Estates Ltd
Commercial apartment building for 67 105 euro in Phetchaburi, Thailand
67 105 €
Commercial apartment building in Phetchaburi, Thailand
30 sq.m
Serviced apartments with guaranteed rental income 9% and buyback. Contact us for more details.
Habita International Estates Ltd
Apartment for 140 309 euro on Phuket Island, Thailand
140 309 €
Apartment on Phuket Island, Thailand
35 sq.m 1 1
In the complex: the complex consists of five villas and five 2-storey buildings with apartments overlooking the sea. Reception, communal pool, parking, fitness center, 24-hour security. In the apartments: modern, comfortable apartments with sea views, fully equipped kitchen, private pool on the terrace of the apartment, stylish design and...
Exotic Property
Apartment for 115 714 euro on Phuket Island, Thailand
115 714 €
Apartment on Phuket Island, Thailand
31 sq.m 1 1
In the complex: a new modern complex with a large selection of studios, one-room, two-room and three-room apartments. On-site outdoor swimming pool with Jacuzzi and waterfall, relaxation area, restaurant, SPA, fitness center, 24-hour security, underground Parking. In the apartment: modern interior style, high-quality interior decoration. The...
Exotic Property
Villa for 281 718 euro in Phuket, Thailand
281 718 €
Villa in Phuket, Thailand
260 sq.m 5 3 4
Villa-Town are spacious three-storey townhouses with an area of 260-300 sq.m. Fully furnished modern and luxurious townhouses with 3 bedrooms, 4 bathrooms, living room, study, kitchen and swimming pool. The project consists of 7 stylish townhouses located in a developing residential area a short drive from Chalong Tourist Pier and major...
King Window View
Flat for 67 307 euro in Phuket, Thailand
67 307 €
Flat in Phuket, Thailand
24 sq.m 1 1 1
This is a condominium of 405 units of 24 – 53 sqm, with floor-to-ceiling windows revealing mountain and city views, two pools, a spa, gym, restaurant & bar and conference room. The area surrounding the Utopia Central development is rich in natural beauty, parks, country clubs and golf courses. Three of Phuket’s top golf courses...
King Window View
Apartment for 115 891 euro in Phuket, Thailand
115 891 €
Apartment in Phuket, Thailand
33 sq.m 1 1 1
This complex consists of nine four- and five-storey buildings, which in total will have 672 premium apartments and hotel rooms. Sunshine provides fully furnished beachfront units ranging from 28 Sq.m to 145 Sq.m and offers studio, one-, and two-bedrooms units. Interior design boasts warm wood tones with bright decorations and ideally combines...
Apartment for 364 864 euro in Thailand
364 864 €
Apartment in Thailand
98 sq.m 2 2
The unique premium-class condominium is located right on the shore surrounded by five-star hotels and is estimated at 28 billion baht. Nearby there are such famous hotels as JW Marriott Phuket Resort and Spa, Anantara Phuket Resort and Spa, Sala Phuket and Renaissance Phuket Resort and Spa. The tourism industry is actively developing in Phuket,...
Indreams Phuket
Villa for 1 267 029 euro on Phuket Island, Thailand
1 267 029 €
Villa on Phuket Island, Thailand
671 sq.m 4 5
This property is set on a land plot of 1464 square meters and a built-up area of 671 square meters, It is the biggest land plot in the neighborhood locating at the Laguna Village Complex. Laguna Village is an exclusive gated development at the famous Bangtao Bay comprising luxury tropical homes set within Laguna Phuket, one of Asia’s...
Phuket Luxe
Apartment for 111 336 euro in Pattaya, Thailand
111 336 €
Apartment in Pattaya, Thailand
29 sq.m 1
Copacabana Beach Jomtien is an elite condominium from the developer of the same name, which has an excellent location in the Jomtien area. The infrastructure of this area is superbly developed. There are many restaurants, bars, markets here. This, as well as transport accessibility, proximity to the sea, will create comfortable accommodation and...
Flat for 120 083 euro in Pattaya, Thailand
120 083 €
Flat in Pattaya, Thailand
34 sq.m 2 1 1
Online Viewing Remote Transaction
New luxury apartment in Pattaya with a visa for 20 years! Total from $117,000.!Ideal for those who want to make Thailand their second home. The visa is issued for up to 3 months and includes exclusive privileges and additional free services and bonuses, such as airport service, simplified entry and exit from the country, simplification of...
Green Door Enterprises Co., Ltd
Villa for 320 000 euro on Phuket Island, Thailand
320 000 €
Villa on Phuket Island, Thailand
178 sq.m 3 2 3
Online Viewing Remote Transaction
This boutique project offers only 5 stylish villas with a swimming pool, located in a quieter, but developing, and also sought after by investors area of Cherng Talai in Phuket. The complex is located within short and easy reach by car from all major local facilities and the Laguna complex. A choice of 3 types /layouts of villas will be offered,...
Premier Siam Group Co., Ltd.
Apartment for 68 328 euro in Pattaya, Thailand
68 328 €
Apartment in Pattaya, Thailand
38 sq.m 2 1 1
STAR is 10th project from the biggest Finnish developer in Thailand. It is also the best project in terms of quality. Only the best materials and construction techniques are used in STAR. STAR is the result of our 13-year experience and expertise in combining the best construction practices of both Finland andtion, materials, equipment and...
Habita International Estates Ltd
Apartment for 700 000 euro on Kata, Thailand
700 000 €
Apartment on Kata, Thailand
219 sq.m 2 2
Online Viewing Remote Transaction
Superb 2 bedroom sea view luxury condo with the coveted foreign freehold title now available for resale at The Heights Kata Beach. Located on a hillside just a short 5-minute stroll to the white sands of Kata beach, this property offers one of the most stunning west coast sea views in Phuket. The large terrace has stunning views over Kata...
Pulse Real Estate
Apartment for 478 309 euro in Phuket, Thailand
478 309 €
Apartment in Phuket, Thailand
217 sq.m 3 3
This is an apartment project consisting of 16 apartments, four exclusive apartments per floor. Apartments on 1-3 floors have 3 bedrooms and a living area from 217 to 301m2.The penthouses occupy 4-5 floors and have a living area of 407-417m2.All apartments have a private pool.The location couldn't be better, just 500 meters from the shore of...
Phuket Luxe
Apartment for 307 615 euro in Phuket, Thailand
307 615 €
Apartment in Phuket, Thailand
80 sq.m 2
We present you a unique project of a resort complex with apartments and hotel rooms on the paradise island of Phuket. The exclusive project is divided into two parts: investment and residences. The unique location near Bangtao Beach, coupled with a developed infrastructure, make the project an ideal source for passive income. Completion date:...
Barnes International
Apartment for 144 897 euro on Phuket Island, Thailand
144 897 €
Apartment on Phuket Island, Thailand
41 sq.m 1 1 1
Built around the concept of a beautiful tropical paradise island, offers buyers a unique investment opportunity in Phuket’s last remaining prime west coast location, just minutes from the pure white sands at Kamala beach.
Habita International Estates Ltd
Villa for 537 837 euro in Phuket, Thailand
537 837 €
Villa in Phuket, Thailand
360 sq.m 4 3
The concept of the complex is to develop inexpensive villas for a small community of entrepreneurs, investors, couples and young families who are looking for a luxurious life, while getting a very good return on their investments. The villas are designed based on the most popular types of housing: 1-room villa with the possibility of...
Indreams Phuket
Villa for 398 200 euro on Phuket Island, Thailand
398 200 €
Villa on Phuket Island, Thailand
222 sq.m 3 2
VILLAS IN PHUKET. Object Details: Beach: 2 km Year of construction: 2014 Bedrooms: 2-3 Bathrooms: 3-4 S residential: 239-435 S total: 239-435 Plot S: 564-857 Pool size: 30-63 In the complex: 9 villas, 24-hour security. In the villa: modern style, private garage, tropical garden, private swimming pool, a spacious outdoor terrace with sun...
Hayat Estate
Studio for 140 000 euro on Phuket Island, Thailand
140 000 €
Studio on Phuket Island, Thailand
34 sq.m 1 1 1
Online Viewing Remote Transaction Cryptocurrency payment
New project near the Laguna, only 500 meters from the sea. A proven developer who has already built several projects on the island has launched a new project near the Lagoon on Bangtao Beach! Delivery - May 2023. The apartment complex includes studios of 33.5 sq. m. for 5.2 million baht and two-bedroom apartments 67 sq. m. for 10 million baht....

Sourse: CNAThe Thaiger
Photo: Wanaporn Yangsiri 

Quoting conditions of Prian.info materials

Share the link:
Tags: Thailand, Market Analysis, Real Estate

Read also

What Happenned? Top-5 News of the Week
News from Cyprus, Thailand, Estonia, Bulgaria, and Turkey.
Thailand Bans Cryptocurrencies as a Payment Unit
You can't use crypto for goods and services.
Where It Is Better to Buy Real Estate in Thailand
The Ambassador recommends not only such popular locations as Phuket or Pattaya.
Thai Opposition Party is Against the Right of Foreigners to Purchase Land
The Pheu Thai party opposes the government's new plan to allow foreigners to own land for...
Apartment Sales Have Stopped in the Czech Republic
Few people are interested in buying an apartment, except financially secure investors. 
Thousands of Properties in Czechia Can Be Taked Under the State Control 
At the end of 2023, a ten-year period expires during which owners can claim their abandoned...

Interesting to read

News and articles on the topic «Thailand»

Thai Opposition Party is Against the Right of Foreigners to Purchase Land

The Pheu Thai party opposes the government's new plan to allow foreigners to own land for...

  • 01.11.2022
  • 9

Where It Is Better to Buy Real Estate in Thailand

The Ambassador recommends not only such popular locations as Phuket or Pattaya.

  • 18.08.2022
  • 24