Thai land ownership laws will need to be liberalised.
The 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!