What will this Thai leasehold law mean for foreign tenants?
A raft of unprecedented benefits in store for lessees
Thailand is bracing for the passage of the leasehold draft bill that is expected to entice more foreign lessees to the property market, according to the Bangkok Post.
The Council of State is due to vet the leasehold bill after public hearings ended on 16 June. The bill has already received cabinet approval.
Under prevailing laws, foreigners can own condominium units but are prohibited from acquiring land, except in special arrangements with the Board of Investment and the Industrial Estate Authority of Thailand.
Lease rights are also not transferable and cease automatically at the time of the lessee’s death.