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Bangkok Post

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Thai property crackdown: Foreign buyers hit pause on villas

Koh Samui Thailand Phuket Juwai IQI

Bang Makham Beach, Koh Samui, Surat Thani. The island is an attractive destination among foreign buyers seeking property in Thailand. (Photo: Bangkok Post)

Thailand's crackdown on a loophole that effectively bypasses its restrictions on land ownership by foreigners is causing prospective buyers to delay purchase decisions on luxury villas in resort destinations such as Phuket and Koh Samui, according to agents.

The Department of Business Development (DBD) has flagged 11,426 companies on Koh Phangan and Koh Samui where foreigners hold stakes, accounting for nearly 68% of all registered firms on the two islands.

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