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Wealthy Foreigners Given New Pathway to Buy Land in Thailand

  • Cabinet endorses property-purchase plan for overseas nationals
  • Foreigners must invest $1 million to buy in Bangkok, Pattaya
Patong Beach in Phuket, Thailand.

Patong Beach in Phuket, Thailand.

Photographer: Andre Malerba/Bloomberg

Thailand took a major step toward giving foreigners the right to buy land for housing, as the country seeks to boost its economy by enticing more wealthy international investors. 

Property ownership by individuals is currently limited mainly to condominium units or through complicated long-term lease agreements.