News Forum - Government may raise foreign condo ownership limit to 75%

[Thaiger]

The government considers increasing the foreign ownership limit in condominiums from 49% to 75% of a building’s usable space, as disclosed by Deputy Prime Minister Phumtham Wechayachai. The Interior Ministry is evaluating the feasibility of extending the maximum leasehold period for foreigners from 50 years to 99 years. Phumtham stated that this proposal was first … …

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[MrStretch]

Bad ideas, at least for Thais who wish to own condos or property in the future.

This will allow a continued elevation of prices, that foreigners may be willing to pay but Thais will not.

Allowing 99-year leases only makes sense if the lease ends with the death of the original purchaser and can't be transferred or bequeathed.

The problem is the current government hasn't an effing clue how to stimulate its own economy and keeps going back to the same well - someone else's money.  That's the only plan they have...bring in someone else's money.

Don't worry about infrastructure, education, regional competitiveness...just bring in someone else's money.  It exemplifies the short view - lack of long view approach that seems endemic in this society.

[Vigo]

The change is intended to address the slump in sales that will eventually  adjust the resale value of the units.

[Pinetree]

Not surprised at this considering the very many thousands of new, empty condos in just Pattaya and Jomtien. 

[ChrisS]

Encouraging more Chinese 'investors' The take over is well under way.

[Mamachigawa]

Bad idea

Thai priced out become renters in their own country like the West where live is no longer affordable partly because rich foreigners buy everything up

[Fanta]

1 hour ago, Mamachigawa said:

Bad idea

Thai priced out become renters in their own country like the West where live is no longer affordable partly because rich foreigners buy everything up

Thailand has more condominiums than condoms. There’s plenty to go around and no-one will squeezed out of the real estate market by foreign buyers. 

[Marc26]

2 hours ago, Fanta said:

Thailand has more condominiums than condoms. There’s plenty to go around and no-one will squeezed out of the real estate market by foreign buyers. 

Agree 100%

This would have almost zero impact on local Thais and the areas they would be potential buyers of condos