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Pheu Thai Party opposes land ownership by foreigners
AI In-brief 14 Sept 02:20

Pheu Thai Party opposes land ownership by foreigners

  • The opposition Pheu Thai Party vehemently opposes the government's plan to allow certain foreigners to purchase up to 0.16 hectares of land for residential purposes, despite the government's aim to boost foreign investment.
  • Pheu Thai warns that this policy will lead to land speculation, driving up prices and making it harder for Thai citizens to own property, and argues it won't generate sustainable jobs or income for the populace.
  • The party distinguishes the current edict from a similar 2003 one, stating the present policy addresses the government's own economic failures rather than external IMF conditions.
  • The government's plan permits wealthy global citizens, pensioners, highly skilled professionals, and remote workers to buy land, provided they invest at least 40 million baht for three years in specific assets.
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