One approach is to improve the laws on the rights to leased property, making them more attractive to investors from abroad.
As the purchasing power of Thais in relation to real estate is declining, the government is pinning its hopes on foreigners.
Citizens of other countries cannot own land in Thailand, they are only allowed to rent it. The laws governing rent are inflexible.
In June 2024, the government has already instructed the Ministry of Internal Affairs to review the lease terms, increasing them from 30 to 99 years.
In addition, the possibility of other indulgences is being considered, such as using the leased asset as collateral, using it for subleasing, and transferring land rights by inheritance.
Thailand is studying the experience of other countries in similar matters.
The law on rent in England and Wales allows you to use rented real estate without a time limit. Tenants may transfer rights, sublet or mortgage the leased property, unless otherwise specified in the contract.
In France, a special law allows long-term lease of land for a period of 18 to 99 years, giving tenants full rights.
In Cambodia, the law allows long-term leases for a period of 15 to 50 years, while tenants can fully use the leased land.
Source: Bangkok Post
