Transcript of the above video:

As the title of this video suggests, we are discussing Thai Condominiums. For those unaware, in Thailand under the Thai Condominium Act as amended, it is possible for a foreign national to own a Thai Condo, a Condo in Thailand in freehold. They can own what could be described in the Common Law context as Fee Simple Absolute; you have title to that land, to that property. Sometimes in Australia this is called freehold, here in Thailand we generally call it freehold but you own it. It is not a lease; you own the property. With real estate, especially land here in Thailand, that is not the case with respect to foreign nationals but with respect to condos it is possible under the Act so long as the condo in question meets the criteria under the Act. One of the criteria is that the ratio of ownership within the condominium complex must be 49/51 majority being Thai owned, so only 49% of a condo complex can be farang owned. So for example, if you have a hundred units, 49 of them can be owned by foreign nationals and 51 of them need to be owned by Thai nationals. 

Now recently they have been talking, this is going back into about mid-year last year, roughly April of 2021, they have been talking about and it has been sort of approved in principle different incentives to bring in foreign nationals and one of them was a change to the rules regarding condominium ownership, that there could be changes with respect to the 49/51% ratio. But, a recent article in the Bangkok Post, that is bangkokpost.com, the article is titled: Long Stay Visa Becomes Sole Enticement. Quoting directly: "But the Centre for Economic Situation Administration (CESA) chaired by Prime Minister Prayut Chan-O-Cha on January 21 decided to put the brakes on proposals to increase foreign ownership quotas for condominiums from 49% and expand property leasehold rights for foreigners from 30 years to 50 years." 

So again, we are kind of seeing a trend here where it gets talked about, it gets kind of whipped up in the media this notion that we might be seeing changes to the property laws that could benefit foreign nationals and then it all kind of is all for naught; it just it just doesn't come about. 

So yeah for now, it looks like the condominium rules are going to remain the way that they have been and we will be looking at a situation where the ratio must remain 51% Thai, 49% Foreign into the foreseeable future.