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ResourcesThailand Real Estate & Property LawTitleThai PM Proposes "Land Lease Terms For Foreigners To 99 Years"?

Thai PM Proposes "Land Lease Terms For Foreigners To 99 Years"?

Transcript of the above video: 

As the title of this video suggests, we are discussing long-term leasing options here in Thailand. I thought of making this video after reading a recent article from the Bangkok Post, bangkokpost.com, the article is titled: PM allays foreign quota fears. Quoting directly: "Prime Minister Srettha Thavisin on Sunday defended the proposal to raise the proportion of foreign ownership allowed to condominiums from 49% to 75% and extend land lease terms for foreigners to 99 years from 30 - 50 years, saying these measures will help stimulate the economy." Quoting further: "When asked about the proposed extension of the land lease terms to a maximum of a 99 years for foreigners, the PM said other countries allow up foreign residents to lease" - I think they meant "they allow foreign residents to lease for up to 150 years."

Well my first response is this isn't other countries. I'm really tired of hearing that, "well other countries do it!" Well it's like your mom used to say: "If everyone jumped off the bridge, does that mean you're going to do it too?" I mean it's not an argument is what I'm saying. This constant, I really hate this from the Press too, it's "oh the economy in Thailand is not as good as Malaysia or Vietnam or name whatever country, many of whom are highly emerging economies that yeah there is nowhere to go but up. Meanwhile, Thailand can deal with her own internal policy. Why does it matter what other countries do? Really that just bugs me when I hear that as an argument because it's not an argument. Thailand isn't that other place. Quoting further: "Deputy Prime Minister and Interior Minister Anutin Charnvirakul confirmed on Friday that Mr Srettha had instructed the Ministry of Interior to study these proposals."

So interesting. They are really seriously talking about increasing the length of leasing. I don't think this is a terrible idea quite frankly. I think that longer-term leasing is probably good; it can create a sense of security on the part of foreigners who really want to live in Thailand but would prefer to live under a lease but a longer term lease so they don't need to be worried necessarily about it expiring before they pass away for example; that's a big one amongst residential long-term leasers  

So I do see the impetus behind this but I really don't care what other countries do honestly. I just want Thailand to do what is best for Thailand at the end of the day. But yeah, I could see there is call for some stimulation in the property sector and extension of leasing terms doesn't sound like too terrible an idea to deal with satisfying that desire to stimulate that aspect of the economy.