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Potential Impact of Increased Foreign Ownership on Pattaya and Jomtien Real Estate Markets

THAI GOVERNMENT CONSIDERING CHANGES

Potential Impact of Increased Foreign Ownership on Pattaya and Jomtien Real Estate Markets

By: Staff Writer, 21-June-2024

 

As a local real estate agent in Pattaya, Rightmove Pattaya has many foriegn buyers, so we are closely following the government's recent consideration to raise the foreign ownership cap in condominiums from 49% to 75%. This potential change, announced by Deputy Prime Minister Phumtham Wechayachai, could significantly impact our local property market.

 

Additionally, the Ministry of Interior is exploring the feasibility of extending leasehold periods for foreigners from 50 years to 99 years. These proposals aim to stimulate the economy and attract more foreign investment, a strategy first discussed in a cabinet meeting in April.

 

Our local property market has seen increasing demand from foreign buyers, even as domestic demand has been affected by high household debt and stricter lending conditions. Developers have been cautious, with the number of land allocation permits nationwide dropping by 19.7% in the first quarter of this year—the largest decline in nine quarters.

 

The Real Estate Information Center (REIC) highlighted that in popular destinations like Pattaya and Phuket, foreign ownership…

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If you intend to Buy or Sell a Home in Pattaya or Jomtien

MAKE NO MISTAKE

If you intend to Buy or Sell a Home in Pattaya or Jomtien

By: Staff Writer, 09-June-2024

Talk to us before you choose your property service. Many.Pattaya real estate agents  will tell you how large they are, how long they’ve been in business, and how trusted they are. Here we talk about you and what you need, because we care about results, success…

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Foriegn Quota - The Urban Pattaya

IMPRESSIVE 1 BED CORNER UNIT

Foriegn Quota - The Urban Pattaya

By: StaffWriter, 30-May-2024

Very well presented, 1 bedroom, corner unit offered for sale at The Urban Pattaya condo, soi 15, central Pattaya, and registered in foreign ownership.  A very attractive price of 3,500,000 THB includes all of the furniutre, fixtures & fittings, we expect this to sell very quickly.

 

 

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