Thai property gains foreign popularity

Author: Prem Singh Gill, Thammasat University

Thailand has been a popular expatriate destination for investment and retirement for decades. But foreign land ownership has long been restricted. Foreigners can own no more than 49 per cent of any condominium development and are restricted from owning most freehold estates. Yet Thailand is keen to attract wealthy international investors — particularly those from China.

Thailand’s Prime Minister Prayuth Chan-O-Cha proposed a policy that would allow foreigners to own land for residential use on 15 July 2022. Thai officials claim this will boost the economy by luring wealthy foreigners to spend and invest in the country.

Investing 40 million baht in Thai property, securities or funds for a period of at least three years is now one of many preconditions for foreign nationals to own up to 1 rai (approximately 1,600 square metres) of land…