Proposal would allow foreigners in Thailand to own 1 rai of land – but there’s a 40 million baht catch

A pool villa in Pattaya. File Photo. fokke baarssen / shutterstock

A proposal being drafted by the Interior Ministry would see foreigners in Thailand allowed to own up to 1 rai of land for residential purposes.

However, foreign buyers would be required to invest 40 million baht in Thailand for a period of three years in order to be eligible for land ownership.

The move was announced by Deputy Interior Minister Nipon Boonyamanee on Monday, who said a proposal will be put before Cabinet for approval.

Mr Nipon explained how the ministry is exploring ways to stimulate real estate sales among foreign business people with high spending power.

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