Policymakers looked at the experience of Hong Kong and a few other areas when debating the foreign land ownership bill.
Jeremy O'Sullivan, head of research and consultancy at property firm JLL Thailand, said the new bill will not lead Thailand down a similar path as Hong Kong, where residential price growth is driven by foreign buyers, making property there unaffordable for locals.
"A major difference between Hong Kong and Thailand is the Thai proposal requires a large investment to be maintained before being able to purchase property," he said.
