Thailand to Extend Land Leases to 99 years and Foreign Condo Ownership to 75%

BANGKOK (NNT) – According to Prime Minister Srettha Thavisin, the policy aims to stimulate the economy and is not designed to favor foreigners or major investors.

Prime Minister Srettha further explained that the proposal was made by the Ministry of Finance, which is part of an economic stimulus strategy. The law currently permits 30-year leases. Extending these permits to 99 years is believed to be more equitable.

The Premier stressed that the extension is a lease, not a sale, while adding that it aligns with practices in other countries that offer 150-year leases. He believes 99 years is appropriate for Thailand. Regarding condominium ownership, the increase from 49% to 75% will still ensure that voting rights remain at 49%, keeping Thai ownership dominant at 51%.

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Foreign owners would only have the right to reside, not vote. Addressing concerns about the opposition party’s intention to challenge the Digital Wallet stipend scheme in administrative court, the Prime Minister expressed confidence that the scheme will proceed according to the legal process without affecting the proposed timeline.

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