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The three top foreign buyers of condo units in Thailand

10 Sept 12:03 Key points summarised by AI

Chinese, Russian, and Myanmar nationals lead as the top foreign buyers of condominium units in Thailand, purchasing 14,500 units worth 73 billion baht last year.
This trend signifies a growing foreign demand for condos, particularly in Phuket, with purchases exceeding pre-pandemic levels and prompting some buyers to opt for 30-year leasehold contracts.
Foreigners face ownership restrictions, limited to a 49% stake in a condo development and requiring a legal entity for land ownership with a maximum 49% foreign holding.
Previous government proposals to relax these ownership limits, such as allowing over 49% foreign condo ownership or land acquisition with significant investment, were ultimately dropped due to strong resistance or insufficient investment conditions.

Today 14:58 Key points summarised by AI

Thailand's government will launch the "Chainat-Pasak-Gulf" water diversion canal project in fiscal year 2027, a seven-year mega-infrastructure initiative.
This permanent structural solution aims to mitigate recurrent central plains flooding by diverting water from the Chao Phraya River directly into the Gulf of Thailand, significantly reducing flow to major cities like Ayutthaya and Bangkok.
Prime Minister Anutin Charnvirakul justifies the long-term investment as a means to reduce future damages and fiscal burdens, contrasting it with the 40-50 billion baht spent annually on short-term flood relief.
Concurrently, the Prime Minister instructed officials to expand drainage capacity into the Tha Chin River and swiftly remove water hyacinths to improve immediate flood management.