News Forum - Cabinet agrees to let foreigners buy land and houses in Thailand

[Thaiger]

A major decision was made today by Thailand’s Cabinet which will allow foreigners to buy houses and land in Thailand. The foreigner will be eligible to buy houses and land if they invest at least 40 million baht in Thailand and can maintain the investment over three years, according to Bangkok Biz News. The land purchased cannot be bigger than 1 rai (1600sqm) under Section 63 of the Land Act. The new law will come into effect one month after its publication in the Royal Gazette, which will be “soon,” said the Cabinet. The initiative will be effective for five […]

The story Cabinet agrees to let foreigners buy land and houses in Thailand as seen on Thaiger News.

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[Soidog]

Nonsense! 

 

[Janneman]

Might as well invest 40 million baht in a forex fund run by a former Thai TV-cook. Probably has better returns.

[Lazarus]

6 hours ago, Thaiger said:

A major decision was made today by Thailand’s Cabinet which will allow foreigners to buy houses and land in Thailand. The foreigner will be eligible to buy houses and land if they invest at least 40 million baht in Thailand and can maintain the investment over three years, according to Bangkok Biz News. The land purchased cannot be bigger than 1 rai (1600sqm) under Section 63 of the Land Act. The new law will come into effect one month after its publication in the Royal Gazette, which will be “soon,” said the Cabinet. The initiative will be effective for five […]

The story Cabinet agrees to let foreigners buy land and houses in Thailand as seen on Thaiger News.

Read the full story

Headline could also be "Cabinet Allows New Way For Foreigners To Be Scammed"

[jobapps]

Just like the digital nomads visa or rich persons visas this won't work, en masse. There are lots of people who could afford this deal without investing 40 million which is a crazy amount.

I don't think the government realises its still unelected atm and by that nature not legitimate. If you lose your investment you couldnt do a thing about it.

[HiuMak]

"The initiative hopes to attract wealthy expats, retirees, digital nomads and people with special expertise."

This looks more likely for foreign entrepreneur or businessman who has dealings in Thailand. Good that Thai Government is making a change.

[thaicm]

And the rich get richer.  Just one more way to push the rest of us further down the ladder.

[Artemis080]

"Cabinet agrees to let foreigners Chinese and Russian money buy land and houses in Thailand"

[Ramanathan.P]

Might well keep that money in fixed deposit and enjoy the interest hassle free....

[harry1]

supposedly the current government believe they are a now middle class society ? and why they didnt sign up to the third world vaccine program, but  instead relied on donation from other countries until their very late orders came.Many thai enjoy living in europe and owning their own property,having rights to vote and residency at no extra cost. The expat are the backbone of this country helped them during tsunami and the covid local economy. they have short memories

[Augratin]

When I saw the title I thought I'll finally be able to actually own the house I bought and am currently living in.  But a 40M baht "investment"?  Forget it.

 

What's wrong with a retiree just being able to own the house they're going to live out the rest of their life in?

[Viggen840]

5 hours ago, jobapps said:

If you lose your investment

You mean WHEN you lose your investment...

[gozzers]

40000000.00 THB = 953825.64 GBP and who just has this kinda money to spend in a third world country ?????

[gozzers]

5 hours ago, jobapps said:

Just like the digital nomads visa or rich persons visas this won't work, en masse. There are lots of people who could afford this deal without investing 40 million which is a crazy amount.

I don't think the government realises its still unelected atm and by that nature not legitimate. If you lose your investment you couldnt do a thing about it.

40000000.00 THB = 953825.64 GBP

[SirPixAlot]

52 minutes ago, gozzers said:

40000000.00 THB = 953825.64 GBP and who just has this kinda money to spend in a third world country ?????

BTW Thailand is NOT a third world country measured at economy power. TH has the 27th largest GDP of the world. (source: Wikipedia).

...but 40M is absolutely nonsense

Edited October 26, 2022 by SirPixAlot

[TheDirtyDurian]

5 hours ago, harry1 said:

supposedly the current government believe they are a now middle class society ? and why they didnt sign up to the third world vaccine program, but  instead relied on donation from other countries until their very late orders came.Many thai enjoy living in europe and owning their own property,having rights to vote and residency at no extra cost. The expat are the backbone of this country helped them during tsunami and the covid local economy. they have short memories

Expats are the backbone of this country!!

[HolyCowCm]

Gonna be a lot more Chinese buying up stuff here now. They need to have country restrictions. The USA is stupid and lets anyone buy. Now in the San Franciso Bay Area, my home place of birth, in many places it looks and sopunds Chinese. Fact is there are too many out of their billions who have free capital itching to buy upo land somewhere.

[Bertik]

Should let the retiree buy a house here at a reasonable price. As the saying goes... you can't take it with you

 

 

[Poolie]

22 minutes ago, Bertik said:

Should let the retiree buy a house here at a reasonable price. As the saying goes... you can't take it with you

Only if it's left to a Thai on demise. No exceptions.

[Guest1]

My take on these: 

Whoever has 40 Mill Baht "laying around", should get them on the singaporean branch of siam commercial ( I only know that from Siam com.,  ...) .

After that, look for a  property you wanna own. Finance (70%) it with siam com , the bank will be the 70% Thai in the papers.

Till you pay the last baht in 20 or 30 years.

And there is no 1 rai limitation, too.

Also you can sell it every time you want.

Just saying

[Pinetree]

Who in their right mind would involve themselves with this ridiculous and idiotic new 'opportunity;'? i would be very interested to read from anyone who thinks that this is a good or a practical idea.  I love LOS, I live here and I have invested some high, single digit money here, but 40 million, I don't think so. 

[Pinetree]

1 hour ago, Bertik said:

Should let the retiree buy a house here at a reasonable price. As the saying goes... you can't take it with you

I will try 

[Pinetree]

4 hours ago, gozzers said:

40000000.00 THB = 953825.64 GBP

quite; its nonesense

[Pinetree]

5 hours ago, Augratin said:

When I saw the title I thought I'll finally be able to actually own the house I bought and am currently living in.  But a 40M baht "investment"?  Forget it.

What's wrong with a retiree just being able to own the house they're going to live out the rest of their life in?

I don't own my house, but I am the major shareholder ( not the majority shareholder)  in the Company that does.  Thats good enough for me. 

[Marc26]

11 hours ago, harry1 said:

. The expat are the backbone of this country 

You are seriously delusional........