News Forum - Thai residences must stay affordable to attract foreigners

[Thaiger]

The chairman of the committee for real estate development at the Thai Chamber of Commerce is warning that real estate property must remain affordable for Thais in order to attract foreigners. While the government has set out to attract talented foreigners to relocate to Thailand through new property ownership measures, the chairman, Issara Boonyoung, says zoning and volume limitation regulations should be applied to keep Thai residences affordable. He says many are concerned about the cabinet’s recent measures to promote wealthy foreigners buying property in Thailand. “A foreign property ownership quota of higher than 49% is not new. It was […]

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[BIGGLES]

Only allowed to buy new units as this would create employment. 

If any of these proposals make it into the Royal Gazette and become law, then everyone who currently "owns" property, will find it is totally worthless, unless selling to a Thai, and in that case it will be valued as good as zero.

JUST RENT!

[Bob20]

It seems to be the Thai thing to make exceptions to the rules as and when it suits them.

They will learn quickly that most foreigners won't go for that kind of reasoning and investment won't materialise.

The moment they restrict foreigners to buy only new condos, the market will fall flat as everyone will understand they'll never sell again (and those chances were slim already).