Property sector calls on government to change visa regulations to stimulate economy

Property sector calls on government to change visa regulations to stimulate economy

 

Going after foreigners to stimulate the property market

Image: Thansettakij

 

Thansettakij became the latest media to publish calls from the property sector to stimulate the economy by offering deals on visas and Elite Card holders for those foreigners investing in real estate. 

 

The media said that calls to change the 49% total ownership of condo blocks law and also to allow foreigners to buy houses with land had fallen on deaf ears.

 

Now they were pressing the government to offer long stay privileges for those who invest 5 million baht in property so that they could get visas of one year duration renewable five times. 

 

Those who invested 10 million baht would be able to stay twice as long, according to the plans. 

 

The sector is desperate to prop up a flagging real estate market with more foreign investment and feels the government needs to relax rules and make it easier for foreigners to invest and live in Thailand. 

 

Thansettakij indicated that the government were mulling changes but so far there is nothing concrete, only proposals.

 

Source: Thansettakij