The authorities of the Kingdom are preparing significant changes to real estate legislation. According to media reports, the Department of Lands in Thailand plans to present a bill to the Cabinet that would allow foreign property owners to extend the lease term on land to 99 years and increase the foreign ownership quota in condominiums to 75%.
Phuket is one of the most popular destinations in the tropical kingdom for those looking to buy property in Thailand. However, the island’s genuine charm and beauty, combined with the desire to quickly own a personal piece of paradise, can push inexperienced buyers into making impulsive decisions. Some may fall into well-crafted traps set by unscrupulous sellers.