Thailand’s plan to allow wealthy foreigners to own parcels of land may exacerbate the glut of unsold flats in the capital Bangkok, as investors are likely to find landed property more appealing than units in high-rise buildings, according to analysts.
Under the proposed measure, foreign nationals will be allowed to own up to 1 rai (0.16 hectares) of land from September if they invest 40 million baht (US$1.09 million) for three years.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!