Thailand Will Allow Foreigners to Own Land 

  • 50
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:
Apartment for 84 798 euro on Phuket Island, Thailand
84 798 €
Apartment on Phuket Island, Thailand
31 sq.m 1 1
In the complex:the first project in Phuket in neoclassical style, a total of 82 apartments of various layouts - studios, with 1 and 2 bedrooms. Communal pool, bar, park area, fitness center, shuttle bus to the beach, parking, reception, 24-hour security. In the apartment: modern style, concise design, successful layout in which every...
Exotic Property
Apartment for 143 900 euro on Phuket Island, Thailand
143 900 €
Apartment on Phuket Island, Thailand
42 sq.m 1 1
In the complex: a large complex of 2 buildings, a total of 119 apartments united by a common green area, a swimming pool with a children's area and a Jacuzzi area, reception, cafe, parking, 24-hour security. In the apartments: spacious apartments with a terrace, modern style in decoration, laconic interior design, complete unity with nature....
Exotic Property
Apartment for 108 696 euro on Phuket Island, Thailand
108 696 €
Apartment on Phuket Island, Thailand
35 sq.m 1 1
In the complex: 3 buildings, within walking distance to the beach, 164 apartments in a beautiful new complex. Communal pool, bar, park area, fitness center, shuttle bus to the beach, parking, reception, 24-hour security. In the apartment: classic style, laconic design. A successful layout, in which every centimeter of space is wisely used....
Exotic Property
Flat for 1 912 789 euro in Bangkok, Thailand
1 912 789 €
Flat in Bangkok, Thailand
180 sq.m 5 4 3
Online Viewing Remote Transaction
The return on investment in real estate is from 10% per year! The apartments are decorated in a modern design and have all the amenities for a comfortable stay. Mulberry Grove Sukhumvit is conveniently located in the heart of Sukhumvit district - the most important business district of the Bangkok metropolis! The condominium has 37 floors...
DDA Real Estate
House for 1 183 000 euro on Phuket Island, Thailand
1 183 000 €
House on Phuket Island, Thailand
660 sq.m 4 5
A new luxury project of villas in an ideal location, surrounded by lush nature with mountain and valley views. Relax in a quiet and comfortable environment, escape from the bustle of the city. The villas are built in a unique architectural style with quality materials. The living area is intelligently divided for practical and comfortable...
Mercury Group
Apartment for 122 641 euro on Phuket Island, Thailand
122 641 €
Apartment on Phuket Island, Thailand
30 sq.m 1
Online Viewing Remote Transaction
Apartment of 30.48 sq.m in a ready-made complex near Kata beach An apartment at an excellent price in a ready-made condominium in the center of the tourist district of Kata appeared on the resale from the Intermark client. The complex with a hotel license has been successfully operating since 2018. Rating on Booking 8.4 Kata Beach is only...
Intermark Global
Flat for 138 359 euro in Phuket, Thailand
138 359 €
Flat in Phuket, Thailand
56 sq.m 2 1 1
Online Viewing Remote Transaction
Exclusive apartment overlooking the Andaman Sea in the prestigious Babylon Sky Garden Condominium complex located in Rawai district. A great option for investing! The secondary housing market! Perfect for both permanent residence and rental! The return on investment in real estate is from 6% per year. The apartment is fully furnished!...
DDA Real Estate
Villa for 848 361 euro on Phuket Island, Thailand
848 361 €
Villa on Phuket Island, Thailand
643 sq.m 4
Cryptocurrency payment
The villa is located in an elite area near the villa villages Botanica, Anchan and Lucky Villas. Currently, the villa is rented out for long-term rent at a price of 200 thousand baht per month. Possible sale with a tenant.
50 Lemons
Villa for 416 327 euro on Phuket Island, Thailand
416 327 €
Villa on Phuket Island, Thailand
232 sq.m 3 3 3
Online Viewing Remote Transaction Cryptocurrency payment
14 eco-villas in their own residence on the island of Phuket! Offer from 16,000,000 baht. The plot of land (already registered in ownership) borders a tropical forest and is a residence of 14 villas located on both sides of a wide alley, at a comfortable distance from each other. Each villa and common area is surrounded by a hedge. Organic...
Phuket Scanner
Villa for 211 194 euro in Pattaya, Thailand
211 194 €
Villa in Pattaya, Thailand
199 sq.m 4 3 3
The 2-storey house is located on a plot of 383 square meters, the living area of the house is 199 square meters with 3 bedrooms, 3 bathrooms and parking for two cars. Optional: furniture package with household appliances and decor, swimming pool size 2.3*6.2 meters. Just a 15-minute drive from downtown Pattaya and Leam Chabang, and only 1 hour...
Habita International Estates Ltd
Flat for 55 992 euro in Pattaya, Thailand
55 992 €
Flat in Pattaya, Thailand
36 sq.m 3 2 1
Online Viewing Remote Transaction Cryptocurrency payment Credit
Alza Real Estate & Development is the first real estate investment agency in Thailand that helps preserve and grow capital. -We assist in selecting the right investment strategy, conduct market analysis, and stay on top of the latest news. -Through our investor community, we obtain special conditions. -Our marketing department helps...
ALZA Real Estate & Development
Studio for 187 289 euro in Bangkok, Thailand
187 289 €
Studio in Bangkok, Thailand
26 sq.m 1 1
Online Viewing Remote Transaction
An investment-attractive object! The yield is from 5%! Perfect for both permanent residence and rental! The advantageous location of the residential complex guarantees you a high demand for rental housing! A very comfortable interest-free installment plan with a minimum down payment is provided! A luxurious life with unsurpassed hotel...
DDA Real Estate
Villa for 359 962 euro on Bang Tao, Thailand
359 962 €
Villa on Bang Tao, Thailand
226 sq.m 3
Cryptocurrency payment
One of the features of this house is a saltwater pool and Jacuzzi, ideal for relaxing after a long day. The villa also has a huge amount of natural light thanks to the translucent roof over the stairwell. There are only 8 villas in the project, and now 4 type A villas are available. You will become part of an exclusive community. Each villa is...
50 Lemons
Apartment for 122 282 euro on Phuket Island, Thailand
122 282 €
Apartment on Phuket Island, Thailand
36 sq.m
Online Viewing Remote Transaction
Welcome to a new, unique condominium project in the heart of Thailand! It is located just 500 meters from the picturesque Nai Yang Beach and surrounded by green hills. Here, you can enjoy the crystal-clear sea and fresh air while experiencing the tranquility and comfort that only such residential complexes can provide. In your residential...
TOP Property
Villa for 123 202 euro in Phang Nga, Thailand
123 202 €
Villa in Phang Nga, Thailand
76 sq.m 2 1 2
Online Viewing
Ultra-modern villa on Koh Phangan island in close proximity to the beach! A great option for permanent residence, investment or rental! The West Coast is the most beautiful and attractive place to live and invest in Phangan. THE RENTAL ROI IS 11%+! The villa is furnished! CAYA is a modern villa complex that offers a secluded and...
DDA Real Estate
Apartment for 139 595 euro on Phuket Island, Thailand
139 595 €
Apartment on Phuket Island, Thailand
52 sq.m 2 1 1
Online Viewing Remote Transaction Cryptocurrency payment
The start of sales of a new condominium from a well-known Russian developer presenting his projects in Phuket. Metrix Development is a real estate development company among the TOP 10 developers of the Krasnodar Territory. Winner of the Federal Urban Awards in the nomination "Developer of the Year" in 2022 and 2023! The company has been...
Azure Home Co Ltd.
Flat for 310 335 euro in Pattaya, Thailand
310 335 €
Flat in Pattaya, Thailand
84 sq.m 2 2
a new luxury high-rise apartment from the developer, the construction of which was completed in 2017. The complex is located in the best location of the Vongamat district in the north of Pattaya. The condominium is located 1 km from the famous Temple of Truth. The condominium consists of two towers of 43 and 40 floors, which offer spectacular...
NF Group
Villa for 572 836 euro in Phuket, Thailand
572 836 €
Villa in Phuket, Thailand
228 sq.m 2
The green tropical villas have a modern loft-style design and the latest energy-efficient systems and technologies. This unique and innovative combination sets the complex apart in the popular Phuket real estate market. The complex is located in the heart of the popular Cherngtalai district, just 2 km from the beautiful Bangtao Beach with its...
Intermark Global
House for 65 526 euro on Phuket Island, Thailand
65 526 €
House on Phuket Island, Thailand
100 sq.m 2 1
Prime Global Asset
Villa for 1 151 186 euro on Phuket Island, Thailand
1 151 186 €
Villa on Phuket Island, Thailand
449 sq.m 4
The luxurious tropical villas are in a private development and are located near Bangtao Beach, on a plot of over 12,000 square metres. The villas will be built close to Bangtao Beach and 16 kilometres from Phuket International Airport. Beach clubs, bars, restaurants and shopping centres are within walking distance. The project has 21 villas...
Intermark Global

Sourse: CNAThe Thaiger
Photo: Wanaporn Yangsiri 

Quoting conditions of Prian.info materials

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

Read also

Housing in Portugal is gradually becoming cheaper
The median bank valuation of housing in October 2023 was €1,536 per square meter.
Foreign property buyers swarm Hungary’s property market
The shock caused by the Covid pandemic is not over. However, foreign buyers have returned to the...
The number of real estate transactions in Germany fell to the lowest level in 13 years
Buyers and sellers are struggling to adjust to the significant increase in financing costs.
Foreigners Have Purchased a Record Number of Housing in the Balearic Islands
The region accounted for 34.4% of the total volume of transactions with foreigners in Spain.
Parisians long to earn on short-term rentals during the Olympics
Many residents of the French capital are planning to move into their country houses, leaving...
European Parliament Has Banned the Sale or Rental of Housing Without the Modernization of the Energy Supply
The president of the All-Greek Federation of Property Owners (POMIDA) as well as the...

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
  • 25

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
  • 60