But this could be changed as the Government is contemplating on extending the leasehold for 50 years as introduced by Apisak Tantivorawong, Thailand's Finance Minister. This is however is considered as good news for investors and developers for this will increase attraction of the market.
The inflation will also draw a line for Thailand with it's neighbors. It was only last year Vietnam extended its lease under the Housing Act. The Philippines, Myanmar and Cambodia all offer 50 year leases. Once their initial term of the same term has expired, financial specialists can no w extend their lease in by a further 50 years.
To provide further confidence in the market is the main reason for this proposal. Experts believe it would have a positive impact. All the more so the same number of nonnative’s put resources into property in Thailand for the whole deal frequently picking the nation as a place to purchase their second or occasion home. This is opposed to speculative investors who do not hold onto property for long as their sole goal is to generate a short term profit.
In addition, the government are exploring the idea of a ‘windfall’ tax wherein applicable owners who profits from increased capital appreciation due to government infrastructure developments.
Whether it be an investment or second home, or should you be looking for properties, you may check out Thailand Property’s listings found online here.