When the Cabinet approved the Ministry of Interior to withdraw the draft foreign ministerial regulations on land ownership of 1 rai in exchange for an investment of at least 40 million baht.

“But it didn't close the door completely” because there was a ministerial regulation of 2002 that was still enforced, allowing foreigners to have the right to buy land for housing as before.

plus not long ago

The "Board of Investment" announced the rules to allow foreign juristic persons who have been promoted to invest at least 50 million baht to be able to own the land for the office location.

and residences ranging from 5-20 rai, which opens the door for foreigners to occupy land in Thailand as before

For this reason, "investment groups have bought land" until some of them fall into the hands of capitalists both domestically and internationally.

and multinational capitalists

"for speculation" and if it is a good location

There are many people who want the

price even higher

Agency for Real Estate Affairs Co., Ltd. said

According to the Cabinet withdrew the draft ministerial regulation allowing foreigners to buy 1 rai of land in exchange for an investment of 40 million baht for 3 years, "not completely cancelled," but because it was to reduce the opposition, they withdrew the draft ministerial regulation.

To bring back to listen to the opinions of all parties involved to carefully improve and prepare.

that means

"This draft ministerial regulation" has a chance to be brought back again.

Because, as far as I know, there are rumors that

"Real Estate Business Group

Or a large land developer "tried to push this story back.

But when the draft ministerial regulations were withdrawn

“I have to come back and use it.

The Land Code Amendment Act, 1999 issued as a ministerial regulation in 2002 "allows foreigners to invest at least 40 million baht in Thailand for 5 years, with the right to buy 1 rai of land as before.

But in the context of the year 1999, the value of 40 million baht was different from today, which may be as high as 240 million baht.

Easy to compare, "Gold in 1999 was 5 thousand baht per baht, but now the price is almost 30,000 baht." Therefore, an investment of 40 million baht is a small number.

"Which opens the way for foreigners" from China, India, Arabs, Saudis to come and speculate on land rights?

Therefore, it is seen that "the 1999 law is inconsistent with this era" should be repealed that Amendment Act as well.

Emphasized with "investment promotion" as specified by the Board of Directors.

Announcement of criteria for granting foreign juristic persons granted investment promotion to own land for office location

and residential number 6/2565

That is, "Foreign Juristic Persons" invest at least 50 million baht and can own land for setting up business offices not exceeding 5 rai or land for executives.

Experts not exceeding 10 rai and resting land for workers not exceeding 20 rai

In the past, "investment promotion policies" usually operated in industrial estates.

But now it is open to buy land anywhere "in Thailand" for doing hotel business, restaurants or other service businesses.

when this

“The price of land in good locations in Thailand has increased” according to a continuous survey from 1985 to the present.

“Despite the occurrence of COVID-19

Land prices are still rising in many places,” indicating that the epidemic has affected the economy.

but does not affect the price of land in the country which is different from

"Tom Yum Kung Crisis in 1999", at that time the land price dropped by about 20%.

If you look at the year 2022, the most expensive land price is

"Bangkok area", especially Siam Square, the price is 3.5 million baht per square wah (or 1,400 million baht per rai), Chidlom, Ploenchit, Nana sells for 3.3 million baht per square wa or 1,320 million baht per rai, Asoke intersection. 2.9 million baht per square wa or 1,160 million baht per rai; Wireless area 2.9 million baht per square wa or 1,160 million baht per rai

Compared to the price of land in 1994, Siam Square, Silom was 4-5 hundred thousand baht per square wa. But if in the part "the line of the electric train drives the change in land prices soaring as well" such as the Ratchadaphisek area. 1 million baht per square meter, Rama 9 is at 5.5 hundred thousand baht, if compared to the year 1994, it was at 1.6 hundred thousand baht -2 hundred thousand baht per square meter.

Next comes the situation in the second half of this year.

“It appears that foreigners buy more than 2,000 units of residential units.” The most popular area to buy is

Ratchada-Ladprao 435 units, downtown Bangkok 399 units, Bangna-Theparak 372 units, “average price 4.9 million baht per unit” shows the importance of setting minimum price measures for foreigners.

For example, in the case of a foreigner to buy a house

Or a condominium in Malaysia must cost 1-2 million ringgit or 8-16 million baht, so as not to buy a cheap house and raise the house price, which will cause trouble for low-income people.

Next is "Eastern land" according to 29 important points surveyed, with the most expensive land area being

Beach Road, Pattaya Soi 8, the price is 6.1 hundred thousand baht per square wah, an increase of 5.2% from the previous year. If it is a land appraisal for tax purposes by the Treasury Department, it is 1.9 hundred thousand baht, 34% lower than the general market price.

while Pattaya Sai 2 Road, opposite Pattaya Night Bazaar, sold 5.3 hundred thousand baht per square wa, an increase of 6%, Central Pattaya Road opposite Mae Sri Ruen, 3.4 hundred thousand baht per square wa, North Pattaya Road directly Crossing Health Land Pattaya, 3 hundred thousand baht per sq.m.

If considering the highest rate of increase in 1 year, Sukhumvit Road, opposite the Toyota showroom, Rayong Province, the price is 1.1 hundred thousand baht per square wa, an increase of 13.4%. Sriracha tiger, price 4.5 thousand per square wa, an increase of 12.5%

Next is "Land in Phuket Province" as it is a world-class tourist city that can continue to prosper.

causing land prices to continue to increase

especially around the beach

and key islands according to the 2020-2021 data cycle. Beaches suited to resort construction increased 3.9%, “rather than inflation,” indicating that the potential remains good.

only then

Considering that from mid-2004 to mid-2021, over the past 17 years, “land prices around Phuket have increased by an average of 10.5% per year, or 5.4 times.” This is a very rapid increase showing strong potential. Of Phuket Island, even during the “tsunami crisis”, land prices in 2004-2005 almost never increased.

In fact, "Chinese people like to buy real estate in Thailand the most" because there is no minimum purchase price limit like Malaysia, which has to buy at least 8-16 million baht.

And condominiums in Thailand are cheaper than many countries.

“Freehold” is not even a long-term lease like in China or Vietnam.

Emphasize that "There is no land purchase tax", for example, in Singapore, for foreigners who are going to buy land have to pay 20% tax, Hong Kong collects 30%, but in Thailand, especially in the "EEC", no tax is required either. There is still no land tax system.

and buildings

Including inheritance tax, despite the enactment of these 2 tax laws, but they are almost ineffective or not?

Makes property purchases by “foreigners” free of purchase tax and almost no land and building tax.

For this reason, Chinese people are increasingly deflecting to buy real estate in Thailand.

Despite the good results that Thai land development companies have a wide market, the disadvantage is that "people" have to buy expensive houses from the increased purchasing power of Chinese people and other countries.

Therefore, when the "population" of every country is increasing, but "land" is a limited necessity, "Thailand" is open to foreigners to own land.

“The price will surely go up and up.” The beneficiary is inevitable from the land development company, but for Thai people, it's almost nothing...