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Government withdraws draft proposal allowing foreigners to buy land

Foreigners buying land in Thailand
Proposal for foreigners to buy land in Thailand

A draft directive to allow wealthy foreigners to buy land in Thailand has been shelved by Cabinet today, apparently “to allow for public feedback”. According to a Nation Thailand report, Interior Minister Anupong Paochinda has revoked the scheme until public opinion is sought.

Feedback, in the form of social media and political opposition, has been savage over recent weeks with many Thais worried that the scheme may push up prices and others saying Thai ‘land’ is for Thais only.

On October 25, the Thai government agreed that wealthy foreigners could purchase houses and up to 1 rai of land, on condition that they invest at least 40 million baht in Thailand. The proposal was originally put forward by the Interior Ministry in May, as a way of attracting more foreign investment and wealthy foreign experts to the kingdom.

The government then spent several months considering the proposal and hearing views from related agencies, before approving a draft directive. However, a number of groups then came forward to register their opposition to the new directive.

The anti-government group, Kana Lomruam Prachachon, marched to Government House to formally file a complaint against the proposal, while other opposition MPs also registered their opposition.

A public hearing will now be held, after which related agencies will be tasked with considering public comments and then proposing a revised scheme to Cabinet.

SOURCE: Nation Thailand

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