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Foreigners may be able to own land in Bangkok and Pattaya soon

Being a foreigner living in Thailand is already riddled with many complications, but it’s even more complicated for those that want to buy land. However, a new plan proposed at a recent cabinet meeting might make that easier.

Foreigners living in Thailand are subject to a lot of complications and restrictions. Among those things is the ability to purchase property. Right now, foreigners are limited to only being able to buy condos, though there are other ways to buy property, which can get very complicated and sometimes the line between legal and illegal becomes a blur (it is Thailand after all). However, a new plan that has been proposed could open the door for foreigners to buy land, but there are some caveats. 

A proposed plan will allow foreigners to buy land in Bangkok and Pattaya

If approved, the proposed plan will allow foreigners to buy 1 rai or 0.4 hectares of land in Bangkok and Pattaya. According to the article published by the Bangkok Post, the idea is to attract more wealthy investors into the country in an effort to further boost the economy. That should give you a hint as to what the limitations are.

foreigners own land
Image credit: A Pril/Unsplash

Since they’re targeting wealthy investors, the requirement is that those seeking to buy land must first invest at least THB 40 million for at least three years. This is on top of the price of the property itself. Other investment options include bonds, real estate mutual funds, and property trust funds. 

The plan has just been proposed and is still going to be assessed so it’s unlikely we’ll see anything come out of it until the middle or end of next year. However, if you’ve got a couple million just lying around, you might want to save that to buy land. Or maybe you could just buy a condo instead. 

Foreigners may be able to own land in Bangkok and Pattaya soon

Eric E. Surbano

Eric can be found lost in his own world jamming with headphones on while writing when he's not prepping for a DnD session or researching 'Star Wars' galactic history on Wookiepedia. A proud Ravenclaw, he loves playing (and writing about) video games, humming the 'Doctor Who' theme under his breath, and rewatching 'Friends', 'New Girl', and 'The West Wing'.


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