Are there not condo developments in which a certain number of units are approved for outright foreign ownership?
2. Condominium Act (No. 2) of 1990 (as amended April 27, 1999)
Sec. 19 of the amended Condominium Act authorizes qualified foreigners to own individual condominium units provided that the total area of foreign-owned units within the condominium project does not exceed 49 percent of the total area of all units within the project. In Bangkok and other municipalities to be designated in ministerial regulations, the 49% limitation does not apply. The following foreigners qualify for condominium unit ownership:
a. Individuals having permanent residence status in Thailand.
b. Individuals who have been permitted to enter Thailand under BOI privileges.
c. Juristic entities registered in Thailand but being classified as "foreign" under the Land Act.
d. Juristic entities, which have been granted investment privileges by the BOI.
e. Individuals or juristic entities, which have brought foreign currency into Thailand for the purpose of purchasing the condominium unit.