A comparison between these 2 competing countries in 16 areas uncovers some interesting facts.
Real Estate
Bad deal for foreigners who are only entitled to freehold status if it’s a condo which is further restricted to not more than 49% of a project. Starting a company to own freehold property is a complicated process which requires min 3 shareholders, 2 of whom must be Thai. Foreigners can own the building on the land but not the land itself which can be leased for 30 years and extendable to max of 90 years. Recently, foreigners are allowed to own a max of 1 rai of freehold land with min 40 mil Baht investment in real estate. But complicated procedure may limit its value.
Foreigners can buy any property provided it’s not built on Malay reserved land, are not low-cost or medium-cost units, agricultural land or are property allocated to Bumiputra (native & Malay); and subject to min price of RMS00K – RM2 mil depending on each state’s policy.
