Ask here about the pleasures and pitfalls of buying, selling or renting property and real estate in Hua Hin. Building, design and construction topics welcome. Commercial or promotional posts for real estate companies or private properties are forbidden.
Foreigners might be able to own land in Thailand, but there’s a few catches
Foreigners might be able to own land in Thailand. The proposal is being drafted by the Thai Interior Ministry which would allow foreigners to own up to 1 rai of land (around 1,600 square metres, .16 hectare or .4 acre).
But, yes, there’s a catch. Foreign buyers would be required to invest 40 million baht in Thailand for a period of 3 years in order to be eligible for land ownership. Despite the up-front barrier, Thai politicians believe the proposal will help stimulate foreign ownership of property in Thailand.
Why even bother spending time and effort coming up with such a policy?
Almost no-one qualifies and any that do contemplate it are likely not playing with a full deck of cards. You would have to be a nutjob to be considering that for 1 rai of land... assuming the goalposts don't change like the weather or it just gets canceled and quietly swept under the carpet with the next change of government.
Meanwhile, I bet all of these oppressor government types and ministers all have property in Europe/North America etc. The West should bring in a bit of reciprocity on a few things to encourage these dinosaurs to move into the 20th century.
There was a similar scheme a few years ago through the Thailand Board of Investment that never really had a chance. It was for the same money but for 5 years. The BOI got to tell you where you could invest your 40 million (as in which part of the country) and where also your 1 rai of land could be located. The so-called ownership was for as long as the individual was alive, and it could not be passed on the heirs.
I don't see a problem.
1. Invest a million quid in Thai government bonds for 3 years.
2. Then they'll allow you to buy a square of land (1600 sq.mtrs or 16% of a hectare.)
3. You'll probably purchase the land at a special price (inflated) along with government taxes.
What an excellent deal. You'd better get in quick as there'll be a queue!
(For those that don't understand sarcasm, there's an example!)
HHTel wrote: ↑Wed Jul 13, 2022 11:49 pm
I don't see a problem.
1. Invest a million quid in Thai government bonds for 3 years.
2. Then they'll allow you to buy a square of land (1600 sq.mtrs or 16% of a hectare.)
3. You'll probably purchase the land at a special price (inflated) along with government taxes.
What an excellent deal. You'd better get in quick as there'll be a queue!
(For those that don't understand sarcasm, there's an example!)
Thanks, I've been looking for a safe, high dividend-paying investment. Now, where did I put that broker's number?
