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In fairness the owners effected by this were playing in a grey area. Using a company and thai proxies was an end run around landownership restrictions. It was never explicitly legal, just tolerated. Buying this way was playing with fire and now they got burnt a little.
The government does need to give more guidance on how to "observe one or two laws" and help everyone become legit.
People who have bought a freehold condo or have a land office registered lease are not effected. The law explicitly allows for this. The government are looking to expand the % of freehold condos in areas like phuket. Rumors of longer leases in the near future. Odds are in the next 90 years laws will change and you can convert the lease to freehold.
There is still plenty of opportunity to invest and benefit if you stay within the law. The housing market isn't going away. Risk of buying hasn't increased. There could be some good bargains right now in legit developments. "When there's blood on the streets buy property"
That said, I do feel this is a really poor direction for the government to be heading.
Personally, the continued unrest in the south concerns me a lot more.
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Drink, sweat, dance like a idoit, crash your bike on the way home. Wake up covered in blood. Wonder who the hell Noi is with an 8 digit phone number.
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