Thailand Foreign ownership changes would Boost property
Posted by Rebecca Sale on 8 th in DSR, Investment Property, Thailand property news on 8th of November 2010The Thai government is to consider relaxing rules on foreign ownership, presenting a further boost for overseas investors.
Thailand property remains popular with overseas investors, and despite the global downturn, property prices increased 5.6 percent in the first two quarters of this year. But the changes to foreign ownership laws would likely increase the levels of overseas investment, pushing up prices.
At present, Thai law does not allow foreigners to buy land. Rather, land has to be purchased through a Thai limited company which the individual sets up. Theoretically, the land is owned by the Thai company, not the individual. Condominiums can also only be bought freehold if the total ownership does not exceed 49 percent of the whole structure and there are other issues.
The changes will aim to remove these restrictions, making the property purchasing process more transparent and straightforward for foreign investors.
This will provide a further boost to a country already boasting significant advantages. Property investors have witnessed huge capital growth and rental yields remain strong due to the sheer volume of tourist arrivals.
Thailand is also one of the cheapest places to fly in Asia, and the completion of the Suvarnabhumi-Bangkok International Airport (SBIA) is expected to spur growth.
The country has excellent infrastructure and in many resort towns, world class facilities. DSR, the overseas property specialists, have a range of properties in resorts offering such world class facilities.
The Maenam Hills development, for example, features 10 luxuriously modern villas, each with terracing and balconies and manicured tropical gardens with full resort services. But prices start from only £100,000.
