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% 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 now-suspended Prime Minister Prayut Chan-ocha proposed a policy that would allow foreigners to own land for residential use on July 15, 2022. Thai officials claim this will boost the economy by luring wealthy foreigners to spend and invest in the country.
PREM SINGH GILL