On September 18, 2021, Ms. Ratchada Thanadirek, deputy spokesman for the Prime Minister's Office, said the Cabinet approved stimulus measures to please foreigners. Among the many policies the most talked about is the amendment of the law on land holding for foreigners.

The government's goal is to generate revenue from foreigners living in Thailand. In addition, there will be more talented people from abroad living in Thailand.

The current laws is preventing foreigners from buying property in Thailand. For example, in one  condominium building, foreigners are allowed to buy a total of 49% of the total number of rooms in the entire condo. Foreigners are also prohibited from buying houses and land.

The government has been working to unlock this since April 2021. In the past, foreigners owned  49% of  condominiums but will modify them to hold up to 70 or 80% of foreigners. Including allowing foreigners to buy housing for 10-15 million baht or more. While the lease agreement in the past used to have the highest limit of 30 years,  it will be legally resolved as a 50-year lease and extended for  another 40  years, meaning that foreigners, even if they do not buy a house, can rent for up to 90  years and then for a  generation.

In addition, if foreigners buy condominiums and expensive houses. The businesses involved will also get all the benefits, such as furniture companies. Therefore, the policy to encourage foreigners to buy a lot of real estate is driving other industries along the way.

However, there is dissatisfaction from the general public that the government is letting foreigners buy a house, buy a condo freely.

Source: https://www.siameze.com/thailand-is-allowing-foreigners-to-own-properties-in-thailand