Thai govt becoming discontent over foreign land ownership

[johnnyk]

Related Article: Pattaya reforms foreign ownership to get ready for AEC
With Asean Economic (AEC) forming in 2015, Pattaya officials are buckling down on foreign ownership in condominium projects from 70 per cent to 49 per cent.

What a crock of shit. Foreigners have been limited to 49% of condo ownership since Adam and Eve bought their studio apt. in Jomtien years ago.

[Takiap]

Related Article: Pattaya reforms foreign ownership to get ready for AEC
With Asean Economic (AEC) forming in 2015, Pattaya officials are buckling down on foreign ownership in condominium projects from 70 per cent to 49 per cent.

What a crock of shit. Foreigners have been limited to 49% of condo ownership since Adam and Eve bought their studio apt. in Jomtien years ago.

That's what I thought as well. I'm telling, if these people told me the sky was blue, I'd go outside and check for myself. They can bare string a sentence together without adding in a lie in one form or another, and the amazing thing is, they do it so shamelessly

[STEVE G]

To be technically correct, since Adam and Eve except in certain areas of Bangkok and Pattaya between April 1999 and April 2004 when they were trying to sell off surplus condominiums left over from the late nineties economic crisis:

Condominium Act (No. 3), B.E. 2542 (1999), which raised the foreign ownership limit to 49% (and indeed up to 100% in certain condominiums in certain urban areas, such as Bangkok and Pattaya, for the five-year period).
http://www.thailawforum.com/database1/B ... inium.html

[Super Joe]

Related Article: Pattaya reforms foreign ownership to get ready for AEC with Asean. Economic (AEC) forming in 2015, Pattaya officials are buckling down on foreign ownership in condominium projects from 70 per cent to 49 per cent.
What a crock of shit. Foreigners have been limited to 49% of condo ownership since Adam and Eve bought their studio apt. in Jomtien years ago.

That's what I thought as well.

Agree too, and couldn't work out how the opening line about reducing Pattaya quotas fitted in with the rest of the article that advocated increasing tbem. Most other publications used the same wording, but then I saw the Bangkok Post article below and all became clear. Bit embarrassing for the originator... 'Property News Asia - The trusted source for real estate news'

Bangkok Post - Pattaya wants 70% foreign condo limit:
Pattaya officials want condominium foreign ownership limits increased to 70% from 49% to help keep Thailand competitive once the Asean Economic Community (AEC) is formed in 2015. ''Pattaya needs to get ready for the AEC. If we wait until 2015, it may be too late as other ies in Asean are now preparing for the single regional common market,'' said deputy mayor Ronakit Ekasingh. Pattaya would propose the idea to help promote investment in Thailand, he said. Pattaya is a special administrative area. The policy should be applied in a pilot programme in Pattaya and Phuket, major tourist destinations that have their own administrative authority. The foreign quota on condominium ownership is regulated by the Interior Ministry at 49% of saleable space. Allowing a higher limit would help developers already up against their foreign ownership quota sell more units. If the limits are increased, units can be sold to foreigners if Thai buyers cannot be found.