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Thai land ownership laws will need to be liberalised.

house5The ASEAN Community has established concrete targets to form a single market and production base by 2015 and hence it is vital to liberalize the land ownership laws in Thailand to fit with the other ASEAN member countries.
If by 2015 Thailand still deny foreigners the possibility to own land in their own name then Thailand will lose out on huge economic growth!

Foreign land ownership goes hand in hand with real estate and industry investment. If investors cannot own the land they invest in they will simply find another country that allows foreign land ownership. It is really that simple!

In 2015 the increased connectivity between ASEAN member countries will lead to more real estate development, but the current Thai land ownership laws might very well put a stop to many developments.

Tourism is one of Thailand’s main industries and one can imagine the impact on tourism if foreigners were actually allowed to own land here for building their own tropical dream home away from home!

That said we just have to await the Thai government’s decision and cross our fingers they will do what is best for the Thai people and the Thai economy!

6 Responses to “Thai land ownership laws will need to be liberalised”

  1. Neil

    I completely disagree with the ideas of opening up the ownership of land to outsiders. (I am British) I have paid for house and land here for my wife and child and feel that Thai land is for the people of Thailand. Just look at other countires. Outsiders come in from richer countries buy up the land pushing up prices of houses and land and then become unaffordable to the everyday Thai person. Just look at the house prices from my home country England. Young people cannot afford to buy their own house. Keep Thai land for the Thai people.

    Reply
    • Kristian Olsen

      Thanks for your response, Neil.
      If you look at say Phuket, an official statement shows that 90% of all land there is actually owned by foreigners already.
      Here the situation is as you describe, normal Thai people cannot afford to own a property there since the prices are very expensive.
      But imagine the corruption in in Phuket. Imagine how many bribes have been paid to lawyers, land officials, government officials etc. to let this happen!!

      Then imagine if it was made all legal for foreigners to actually own the land, then the corruption might disappear, and the prices will regulate itself, since you do not need to pay overprices to own a plot of land anymore.

      But OK, this is only my point of view đŸ˜‰

      Reply
  2. Jimmy Cicero

    “That said we just have to await the Thai government’s decision and cross our fingers they will do what is best for the Thai people and the Thai economy!”
    When have they ever done what is best for the Thai people or the Thai economy? I agree with you, this is something that would greatly benefit all parties, but I don’t think the Thai government is really interested in benefiting ALL parties.

    Reply
    • Kristian Olsen

      Thanks, Jimmy.
      You are probably right, “When have they ever done what is best for the Thai people or the Thai economy?”

      But hey, if the Thai government only want to benefit themselves, well, then they still should ease the foreign land ownership rules…
      Actually my point is, can Thailand at all afford NOT to liberalize the rules??
      We are talking about billions of dollars in lost revenue and tax.

      Reply
      • ben

        “Tourism is one of Thailand’s main industries and one can imagine the impact on tourism if foreigners were actually allowed to own land here for building their own tropical dream home away from home!” You must mean : beer bars with BIG tv playing manchester united vs real madrid?? on the beach , in the northern mountains?
        Having everywhere this horrible westerns standards, as the majority of tourist dreaming of a tropical way of life are just rednecks who can’t afford a descent life in their own country. If you think it’s necessary to liberalise land the thai baht change rate has to rise for a real balance.

        Reply
        • Kristian Olsen

          Of course I can follow you, Ben.
          And if the Thais follow their hearts, foreigners will never ever be able to own land here in the Land of Smiles.
          But if they follow their head, they should absolutely allow foreign investors the chance to at least own a small plot of land for non-commercial use, where they can build their own private dream house.

          I do believe this will happen, maybe not already in 2015…but soon thereafter.

          Reply

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