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Srettha may find himself in the crosshairs over new real estate policy

Srettha may find himself in the crosshairs over new real estate policy

26 Sept 20:59 Key points summarised by AI
  • The Thai government proposes increasing foreign condominium ownership to 75% and extending land lease terms to 99 years, aiming to stimulate the sluggish real estate market.
  • Prime Minister Srettha Thavisin faces potential conflict of interest accusations due to his past as a leading property developer (Sansiri Plc) and the transfer of his shares to his daughter before entering politics.
  • Critics warn of strong public opposition, particularly regarding extended land leases, and suggest alternative solutions like simplifying the process for qualified foreigners to obtain Thai citizenship to address an aging population.
  • While foreign condo purchases are already rising, with Chinese nationals as top buyers, experts question the effectiveness of the proposed law changes, citing existing market conditions and implementation issues like corruption.
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