Thonburi bank of Chao Phraya River in Bangkok, with Saichol Mansion, Ideo Sathorn-Taksin, Urbano Absolute, River South Tower and Supakarn Condominium

Foreigners to be allowed to own 75% of units in condominium projects

The Interior Ministry has been assigned by the Cabinet to amend the Condominium Act, to increase the foreign ownership limit in a development from 49% to 75%, and to amend the Land Act, to allow foreigners to lease land in Thailand for 99 years, up from the current 50.

Foreigners own third of land in Thailand

Interior Minister Anutin Charnvirakul said on Friday that there is actually not much change needed to the Land Act, because the existing law already allows foreigners to lease land for 50 years, with an option to extend by a further 50 years.

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By Thai PBS World

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