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What Happened To Foreign Ownership Rule Change?

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Posted: 06 Aug 2010 | 6:00 am

Last year there was much optimism in the hotel sector back of the ASEAN Economic Community guidelines for sweeping ownership reforms what would provide majority control of hotel investments in the country.

While Thailand has formally committed to this to be implemented by 2015, there is word the Board of Investments is looking to spur the service industry.

Currently in the service sector foreign investment is limited to 49% and will be raised to 70% under the ASEAN initiative. Land ownership for hotels owned by overseas interests remains a contentious issue.

Liberalization of the hotel investment sector and related service industry would spur growth in what is now becoming an increasingly domestic dominated playing field.

For now eyes are on the BoI on when and how initiatives will be introduced.

DO YOU LIKE THIS?

Hello

I find your info and articles very interesting and precise.

I owne a condo in Tamarind Hills which seems to have slowed down ever since the red shirt uprising.

So much availability and no buyers till when will this continue especially for the condos less then 500 thousand usd

Would deeply appreciate your insight

Many thanks

Eddie Shroff

Bill Barnett responds:
For the moment its all RnR, rentals and resales, the mid tier market is highly dependant on foreign buyers and right now the triple threat of currency, ongoing recession and political issues have created challenging conditions. Long term these things work in cycles but for now yes its a hard pull in the market. Thanks for reading.

Eddie Shroff, 06 Aug 2010 | 5:53 pm

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