Foreigners will be allowed to own residences, land

[Gaybutton]

Only one little problem. You first have to invest 40-million baht in Thailand - that's the equivalent of about US $1,140,000.

Gee, thanks. I'm sure I probably have that much just laying around somewhere . . .

Now that I am among "the elderly" why would I buy at all? Seems to me renting is a much more appropriate way to find a place to live in Thailand.
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Four groups of foreigners will be allowed to own residences, land

by The Nation

July 14, 2022

The Interior Ministry said on Wednesday that its move to allow foreigners who invest 40 million baht for at least three years to purchase a residence on 1 rai of land will be in line with existing laws and additional ministerial regulations.

Its statement came after Deputy Interior Minister Nipon Boonyamanee’s announcement on Tuesday that the ministry would ask the Cabinet to approve the move in a bid to boost real estate sales and stimulate the economy.

The ministry said it would introduce additional ministerial regulations with certain criteria, including that foreigners must be in one of four groups to be eligible.

The four are wealthy people, retirees, people who want to work in the country and those with special skills.

The ministry added that failure to comply with the criteria would result in the rights of foreigners being revoked, while they would be ordered to sell their land.

The ministry will grant the right to own land under existing laws, including that foreigners can purchase only 49 per cent of rooms in each condominium under the Condominium Act, it said.

Only Thais have the right to receive a 0.01 per cent transfer and mortgage fee for residences or condominiums costing no more than 3 million baht.

https://www.nationthailand.com/in-focus/40017713

[Dodger]

The ministry added that failure to comply with the criteria would result in the rights of foreigners being revoked, while they would be ordered to sell their land.

You gotta luv it!

A wealthy person with tens of millions of baht in assets retires in Thailand...invests millions of baht on a property to dazzle the Thai girl he's fallen in love with (which is the only reason he'd be here to begin with)...she dumps him after draining what's left of his bank account...the farang isn't wealthy anymore so he gets tossed out of Thailand under the new rules...the property gets sold...and around-and-around the $$wheel$$ turns.

I bet the rich-and-famous just can't wait to drive their Lamborghini's around the roads in Pattaya.

This whole thing is beyond laughable.

[Gaybutton]

This whole thing is beyond laughable.

What a way to attract wealthy foreigners. First require they invest an enormous amount of money and at the same time threaten them with what will happen if . . .