Beachfront in Phuket mainly foreign controlled

Hicran
September 10, 2009

According to research by the Thailand Research Fund, approximately 90% of coastal land in Phuket is foreign-owned while foreign ownership of land is also prevailing in other popular destinations. (Pattaya, Koh Samui, Hua Hin and Chiang Mai)

In addition, it was reported that foreign investors have been relying on legal consultants and local officials in the acquisition of land through local nominees or proxy companies.

Although it is understood that foreign investments are critical in the development of some resort destinations, some leases have been discovered to be ‘unusually long’.

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