The Thai Cabinet has recently approved a new property policy for foreigners. This decision was made in order to attract more foreign investors to the country. The policy is aimed at making it easier for foreigners to purchase property in Thailand.
Under the new policy, foreigners will be allowed to own land for up to 50 years. This is a significant change from the previous limit of 30 years. Additionally, foreigners will now be able to renew their leases for up to 50 years as well.
The Thai government hopes that this new policy will encourage more foreign investment in the country’s real estate market. It is expected that the policy will help boost the economy and create more jobs for the local population.
Overall, the approval of this new property policy for foreigners is a positive step towards attracting more foreign investors to Thailand. It is a clear sign that the government is committed to creating a more welcoming environment for foreign investment in the country.