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Thailand’s plan to allow wealthy foreigners to own parcels of land may exacerbate the glut of unsold flats in the capital Bangkok, as investors are likely to find landed property more appealing than units in high-rise buildings, according to analysts.
Under the proposed measure, foreign nationals will be allowed to own up to 1 rai (0.16 hectares) of land from September if they invest 40 million baht (US$1.09 million) for three years.
