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Increased foreigner condo ownership rights will benefit economy – PM

Increased foreigner condo ownership rights will benefit economy – PM

18 Sept 04:46 Key points summarised by AI
  • Prime Minister Srettha Thavisin defends proposed amendments to allow foreigners to lease land for up to 99 years and own up to 75% of condominium projects, asserting the goal is to boost Thailand's economy.
  • The plan, conceived by the Finance Ministry, maintains that 99-year leases do not confer land ownership and foreign voting rights in condos would remain at 49% to ensure Thai control.
  • Despite the PM's assurances, some Thai businessmen and real estate experts express reservations, citing concerns over potential increases in land prices, difficulties for Thai nationals to own property, and the risk of exploitation by 'grey' businesses for illicit gains.
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