Bangkok: "Anutin" reveals that the Department of Provincial Administration is investigating capitalists who rent out condos on a daily basis, indicating that if they are found to be breaking the law or causing trouble, action must be taken. He insists that the law still allows foreigners to own only 49%.
According to Thai News Agency, Deputy Prime Minister and Minister of Interior Anutin Charnvirakul addressed concerns about Chinese investors purchasing condos to rent out to foreigners for short-term stays, which has been causing disturbances for residents. These investors have been reportedly placing key cabinets in various locations to circumvent the law. Anutin emphasized that operating a hotel or guest room requires a proper hotel license and adherence to the Ministry of Interior's regulations. He noted that if operations are conducted lawfully, there would be no grounds for intervention. However, in the case of a condo in the Sukhumvit area currently under scrutiny, the Department of Provincial Administration is set to conduct inspections. Should any offenses be identified that have resulted in community harm, actions will be taken against the violators, irrespective of their nationality.
Regarding the initiative by the former Prime Minister Settha Thavisin's administration to review and potentially increase the legal percentage of condominium ownership by foreigners from 49% to 75%, Anutin clarified that the proposal remains in the study phase. For now, the ownership limit remains at 49%.