Today, major land developers of related real estate associations are trying to urge the government of Prime Minister Settha Thavisin, who comes from among Thailand's top land developers, to encourage more foreigners to buy real estate in Thailand.

But the trend is now reversing. Many countries around the world are banning foreigners from purchasing real estate. What is the story exactly?

Dr. Sophon Phonchokchai as Chairman of the Thai Real Estate Research and Valuation Information Center Therefore, I would like to compile this backlash for the government and those involved to see. For the benefit of issuing housing policies for foreigners

   1. New Zealand is one of the first countries. which prohibits foreigners from buying houses in the said country Because the population of New Zealand is only 5.1 million people, or only 8% of the Thai population. But this country is about half the size of Thailand. If foreigners were allowed to buy houses as they wished Soon it will definitely be dominated by foreigners.

and foreigners buying houses in New Zealand It is a huge increase in demand. causing house prices to increase This is bad for New Zealanders themselves when looking to buy a home.

    2. Canada is another country that imposes restrictions on the purchase of real estate for non-residents. (But if you live or work in Canada, you can buy a house) to prevent "vultures" from coming to eat in their own country.

For the next two years, non-resident foreigners are prohibited from buying homes, but non-Canadian citizens can still buy homes if they live in Canada, such as refugees and international students. The ones who are blocked are usually wealthy investors, which has a negative economic impact on local people as a result of violent speculative trading.

There are examples in Europe too: in Spain, the Balearic Islands tourist hotspot is pushing ahead with plans to ban non-residents from buying property. These islands are the most expensive places to buy real estate in Spain. More than the capital Madrid

     3. Australia also stipulates that foreigners can come and buy houses, but can only buy new houses on the market. Second-hand houses are strictly forbidden to buy. Because it will cause house prices to soar up. It is a problem when buying a home for Australians, and if caught, they will be fined approximately 3 million baht and jailed for another 3 years.

    4. Spain, where the number of non-resident foreigners in Spain has been on the rise, with the latest figures showing a 30.65% increase in the third quarter of 2022 compared to the same period in 2021, making it There are many people buying houses from abroad. But they hardly live in it, it has become a "ghost village", so they are thinking of limiting the purchase of houses by foreigners now.

     5. Croatia has begun to require foreigners who have been resident for 10 years before being able to purchase agricultural land. This is due to concerns that foreigners will come to buy land for agricultural purposes. which occupies a vast area in this country

Moreover, non-EU citizens need a permit to purchase property on an individual basis, regardless of how long they have lived in Croatia.

      6. Austria has also timely introduced more complex restrictions on non-citizens and non-EU residents.

     7. Switzerland Similar but stricter regulations have existed since the 1960s, aimed at preventing non-residents and non-EU citizens from entering the country.

These people even live in Switzerland. But if you do not receive a long-term residence permit There are also restrictions on purchasing residential real estate.

    8. Denmark still bans non-residents from buying houses.

    9. Malta also indicates people who have lived in this country for less than five years. Including Maltese citizens It will not be allowed to buy more than one house. to prevent speculation While in Thailand there is no prohibition on buying multiple houses.

Therefore resulting in collecting a large profit. Non-EU citizens need a license to purchase real estate in most parts of the country. Regardless of how long they have lived in Malta.

     10. Italy In the Alto Adige region, foreigners and Italians from outside the region have been banned from buying vacation homes in some cities since 2018, with government officials saying the restrictions are needed. This is to prevent wealthy foreign buyers from pushing prices so high that locals cannot afford to buy houses.

The European Commission maintains that the ban is a legal exception to EU regulations that allow it.

      11. Singapore prohibits foreigners. (Targeted at high-net-worth investors from China) Buying houses indirectly by prohibiting the purchase of flats owned by the Singapore National Housing Authority (which has 80% of all residences) requires foreigners who go to buy houses in Singapore is subject to 60% purchase tax.

For example, a condominium priced at 40 million baht must pay taxes to the Singapore government in order to use the money to develop the country. 24 million baht will only come to "cook your hands" to buy property in Singapore. For example, Singapore citizens cannot

      12. Hong Kong is the same way. But it set the purchase tax at 30% to prevent Chinese people trying to "spillover" into Hong Kong.

     13. Taiwan also has measures that allow foreigners to buy condominiums in Taiwan. But can only stay no more than 4 months per year. I will not be able to come and stay for a long time because Taiwan is a target for mainland Chinese to buy houses. Part of which may be political infiltration. (But in Thailand, we are not afraid of anything. I only see China as a great friend.)

     14. Malaysia, although it tries to encourage foreigners to buy houses But there are clear measures that if you are in Kuala Lumpur The purchase price must be at least 15 million Thai baht (RM2 million) to prevent it from competing with locals to buy the house. and there is a designated zone for purchasing If you can't use it, you can buy it and it's all dirty.

Plus, if someone goes to buy a house in Malaysia Well, it's not like you'll get automatic residency. You must have a regular income or a pension of about 40,000 ringgit (300,000 baht). Those "bird-shit foreigners" don't have to come in. Must have assets that are easily converted into money.

For example, to buy shares of a public company on the stock exchange for 1.5 million ringgit (11.25 million baht), you must have a deposit of 1 million ringgit (7.5 million baht) in the bank, and if you bring family members as well. Each person must have a deposit of 50,000 ringgit (375,000 baht), etc.

     15. Indonesia also sets a minimum price of around 11 million baht.

     16. India has strict regulations regarding the purchase of real estate. India does not ask foreigners to buy houses at all.

    Thailand that will open "Asa" for foreigners to buy houses and come to live in Thailand in large numbers. May need to review policy Because in the future Phuket may be a Russian colony. Pattaya may have been occupied by Arab-Indians. Chiang Mai may already be a province in China.

Source:https://www.bangkokbiznews.com/property/1089772

Date 23/09/2023