Crackdown unlikely to hit foreign property demand

An aerial view of Koh Tao in Surat Thani. A property consultancy says the crackdown on illegal nominee structures is unlikely to derail foreign demand for resort and luxury properties in beach destinations.

The intensified crackdown on illegal nominee structures is unlikely to derail foreign demand for resort and luxury residential properties, although buyers are becoming more cautious and paying closer attention to legal ownership arrangements, according to property technology group Juwai IQI.

The enforcement measures are not expected to significantly affect overall foreign demand for these properties in Thailand, it said in its analysis report.