Foreigners urged The Government of Thailand to simplify the process of acquiring real estate.
Experts believe that foreign investment will strengthen the weakened economy and accelerate the real estate market recovery.
According to Atip Bijanonda, Deputy to the Trade Council of Thailand, remittances make it difficult for foreign nationals to buy housing. The complex process is a major obstacle to permanent investors and those planning to become one.
Bijanonda explains, "To buy an apartment, a foreigner must first withdraw the money from abroad, declare it or send a currency exchange certificate to the Land Department."
It is also necessary to focus on attracting long-term residents to the country: wealthy pensioners, remote and highly qualified specialists who will buy housing and move the sector forward.
To this end, Thailand is creating a center for long-term residents to remove obstacles for foreign buyers.