The cabinet approved on Tuesday the Interior Ministry's proposal to allow foreigners to hold land ownership of up to one rai (roughly 0.16 hectares) for residential purposes, though critics warned the move may trigger land speculation by foreign investors.
According to government spokesman Anucha Burapachaisri, the weekly cabinet meeting approved in principle a draft regulation of the Interior Ministry regarding land ownership by foreigners, allowing four groups of rich foreign nationals -- wealthy global citizens, wealthy pensioners, people who want to work from Thailand, and highly skilled professionals or specialists -- to buy and own land for residences.
