Opposition to foreign land ownership in Thailand

The government scheme to allow foreigners to buy one rai of land may have been met by enthusiasm in the expat community but not everyone has welcomed the idea.

The Interior Ministry’s proposal to allow foreigners to own a bit of land if they invest 40 million baht is seen by many as a short-term fix to the kingdom’s economy after more than two years of Covid-19 stagnation and decline.

The Federation of Thai Industries (FTI) is backing the proposal. It believes foreign ownership of land would give the economy a boost and at the same time help the ailing tourism sector. The FTI said it would help and support real estate businesses also affected by the Russia-Ukraine conflict.

Thailand has been hit harder than most in terms of the rising cost of energy and raw materials since the war between the two former Soviet nations kicked off earlier this year but the…