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They haven't gone after existing companies holding land...yet. We have to wait on the FBA to see how this really shakes out.
For new properties coming on the market, it is a problem for sure. But this approach was an end run around the laws anyway.
I've read BOI does cover property and hotel developments. So with the special privileges the BOI can grant, the company could be 100% foreign control and then get a 30+30+30 lease or freehold on a condo. Or look for a good Thai housing company.
I agree with you absolutely that I would not want to be on the development side or left holding a 1m villa right now.
What I don't like is this approach will push foreigners to live in very farang communities because of ownership restrictions. I like living in a mixed area. That is the point of living here.
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Women with a past and men without a future grope and shuffle on the dance floor.
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