National —
On October 30th, 2024, Deputy Prime Minister and Finance Minister Pichai Chunhavajira addressed the CEO ECONMASS AWARDS 2024, unveiling a proposed policy to enhance foreign investment by allowing 99-year land leases.
Speaking on “Thailand 2025: Opportunities, Challenges, and the Future,” Pichai highlighted Thailand’s vast land—over 300 million rai (540,000 square kilometers) with a population of 67 million, saying it presents ample space for growth.
To attract international investors seeking long-term stability, the government is preparing to increase lease terms from 30 to 99 years, under “usufructuary right laws.”
This change would enable foreign investors to use, trade, or secure loans against land rights. Upon lease expiration, assets would revert to the state for redistribution, with particular focus on aiding low-income families.
Unused state lands managed by the Treasury Department and the State Railway of Thailand will also be opened for long-term leases, especially in central urban areas. Low-income citizens would gain affordable access to city housing under 99-year leases priced 30% below market rates.
These properties would be in key areas such as Silom and Sukhumvit, providing an affordable housing option close to workplaces, which helps low-income workers avoid high daily commuting costs, thus supporting their access to urban employment opportunities.
TPN Media notes these are only proposals and have faced significant opposition from some groups. There is no guarantee these proposals will become law, although the current Thai government is moving forward on them.
This article originally appeared on our sister website The Pattaya News.