Representatives of Phuket's tourism industry are expressing dissatisfaction with a new government decree that allows foreigners who purchase real estate worth 3 million baht (about 86,100 US dollars) to apply for a long-term visa. According to experts, the established investment threshold is too low, which can attract unscrupulous guests and provoke an uncontrolled increase in housing prices.
The new visa rules, which entered into force on October 1, 2025, give the right to obtain a one-year visa to foreign buyers of condominiums worth from 3 million baht (about 86,100 US dollars), as well as tenants with a monthly payment starting from 85,000 baht (about 2,440 USD). Moreover, their family members can apply for a similar status without making additional investments.
Thanet Tantipiriaki, representing the Phuket Tourism Association, said that despite the fact that the island is traditionally inferior to destinations such as Chiang Mai in attracting long-term tourists due to the high cost of living, local operators are alarmed. In their opinion, the new rules make the purchase of Thai real estate too affordable for foreigners, which carries with it a number of risks.
Mr. Tanet stressed that the amount of 3 million baht ($86,100) is disproportionately small compared to the preferences that the buyer receives, including the right to long-term residence. Of particular concern is the fact that family members receive the same rights without any additional investment. "This contradicts the strategy of Thailand and Phuket, aimed at attracting high-quality, rather than mass tourists," he added.
In addition, the representative of the association fears that the relaxation creates loopholes for illegal activities: foreigners can illegally work or run a business, as well as buy up several apartments for subsequent rental to tourists. According to him, such an increase in foreign ownership of real estate will inevitably lead to an increase in the cost of housing and an increase in the cost of living, which will hurt the local population. In turn, Thailand Longstay Management, which participates in the selection of documents for the Immigration Bureau, supported the initiative. They believe that the measure is aimed at stimulating the real estate market at the expense of foreign capital. The company assured that applicants with a criminal record will not be able to obtain a visa, and buying or renting is possible only from Thai developers. It is important to note that this scheme does not eliminate the current restrictions: foreigners can still own no more than 49% of the area in any condominium. Source: Bangkok Post
