Thailand Tables 50 Year Property Lease Term
Making news in Thailand are comments by the Finance Ministry that the government is seriously reviewing an extension of real estate leases to 50 years.
Currently the law restricts foreigners to either own freehold condominiums in 49% in projects or else take the leasehold route with a 30 year term and renewal option.
One of the key drivers is a measure to stimulate leasehold property sales in the secondary market by creating an extended term.
For now, as in the past, the property industry remains cautiously optimistic over the news.