Check out the golden locations in Thailand for foreigners looking to invest

and not long ago the “Investment Board” announced the rules to allow foreign lawyers who have been promoted to invest at least 50 million baht to own the land for the location of the office. and residences ranging from 5-20 Ra, 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 domestic and international capitalists. and international capitalists “for speculation” and if it is a good location There are many people who want the price even higher. Dr Sopon Pornchokchai President of the Center for Information Research and Valuation of Housing Real Estate Agency for Real Estate Matters Co., Ltd. said

According to the Cabinet he withdrew the draft ministerial regulation that allows foreigners to buy 1 Ra of land in exchange for an investment of 40 million baht for 3 years, “not completely canceled,” but because it is to reduce’ the opposition, they withdrew the ministerial draft. regulation. Come back to listen to the views of all the parties involved to improve and prepare carefully.

that means “this draft ministerial regulation” has a chance to come back again. Because, as far as I know, there are rumors that “Real Estate Business Group Or a major 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But when the draft ministerial regulations were withdrawn “I have to come back and use it.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 purchase 1 Ra of land as before. But in the context of the year 1999, the value of 40 million baht was different from today, which can 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 Therefore, it is seen that “the 1999 law is inconsistent with this period” and that Amendment Act should also be repealed.

Emphasized with “investment promotion” as stated by the Board of Directors. Publish criteria for granting investment promotion to foreign legal persons to own land for office location and residential number 6/2565

Check out the golden locations in Thailand for foreigners looking to invest

That is, “Foreign Legal Persons” invest at least 50 million baht and can own land for establishing business offices that does not exceed 5 Ra or land for executives. Specialists not exceeding 10 Ra and rest land for workers not exceeding 20

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 until today. “Despite the outbreak of COVID-19 Land prices are still rising in many places,” noting that the epidemic has affected the economy. but it does not affect the price of land in the country which is different from the “Tom Yum Kung Crisis in 1999”, at that time the price of land fell 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 each), Chidlom, Ploenchit, Nana sell 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 each; 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 electric train line drives the change in land prices soar too” like the Ratchadaphisek 1 million baht per square meter, Rama 9 is 5.5 hundred thousand baht, compared with the year 1994, it was 1.6 hundred thousand baht -2 hundred thousand baht per square meter.

Check out the golden locations in Thailand for foreigners looking to invest

Next comes the situation in the second half of this year. “Foreigners appear to be buying more than 2,000 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 price of a house, which will cause trouble for low-income people.

Next is “East Land” according to 29 important points surveyed, with the most expensive land area 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 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.

Check out the golden locations in Thailand for foreigners looking to invest
Check out the golden locations in Thailand for foreigners looking to invest

while Pattaya Sai 2 Road, opposite Pattaya Night Bazaar, sells 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 Pattaya Health Land Crossing, 3 hundred thousand baht per sq.m.

If we consider the highest rate of increase in 1 year, Sukhumvit Road, opposite 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, no increase from 12.5%

Next is “Land in Phuket Province” as it is a first class tourist city that can continue to thrive. causing land prices to continue to rise especially around the beach and key islands according to the 2020-2021 data cycle. Beaches suitable for resort construction increased by 3.9%, “instead of inflation,” indicating that the potential remains good.

only then “Not very welcoming to tourists. Due to the outbreak of COVID-19”, the beach with the highest land price is “Patong Beach”, estimated at 250 million baht each or 625,000 baht per square wa. Sq.w., the lowest is 2.5 thousand baht or 10 million baht each.

Given 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 very rapid progress which shows strong potential. Island, even during the “tsunami crisis”, land prices in 2004-2005 almost never increased.

Check out the golden locations in Thailand for foreigners looking to invest

In fact, “Chinese people like to buy real estate in Thailand the most” because there is no minimum purchase price limit like Malaysia, which must buy at least 8-16 million baht. And condominiums in Thailand are cheaper than many countries. A “freehold” is not even a long-term lease like in China or Vietnam.

Emphasize “There is no land purchase tax”, for example, in Singapore, for foreigners who go to buy land have to pay a tax of 20%, Hong Kong collects 30%, but in Thailand, especially in the “EEC”, no tax is needed either. There is still no land tax system. and buildings Including inheritance tax, despite the enactment of these two tax laws, but they are almost ineffective or not?

This means that “foreigners” buy property free of purchase tax and almost no land and building tax. For this reason, Chinese people are increasingly turning to buying real estate in Thailand. Despite the good results that Thai land development companies have a wide market, the downside is that “people” have to buy expensive houses from the increasing purchasing power of Chinese people and other countries.

Therefore, when the “population” of each country increases, but “land” is a limited necessity, then “Thailand” is open to foreigners to own land. “The price must always be more expensive.” The beneficiary is inevitably from the land development company, but for the Thai people, it is almost nothing.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.