Colliers MD to head up Joint Foreign Chambers of Commerce Property Committee

Mr. Jeerapaet, a Board member of the Thai-Swedish Chamber of Commerce, was appointed Chairman after an initiative of the Thai-Swedish Chamber to address competitiveness within the property and long stay market making a more attractive investment destination.

“Foreign investors and long-stay tourists have been a key feature of Thailand property market in Bangkok as well as key tourism destinations such as Phuket, Pattaya, Chiang Mai, Hua Hin, and Koh Samui for many years,“ said Mr. Jeerapaet.

“The role of the committee will be to liaise with Thai authorities, raising recommendations which will enhance the overall performance and health of the property market in,” said he.

Main issues facing the committee include enabling purchase of land for the purpose of Long Stay and proposals to extend the current 30 years leasehold limit on land. Another issue the committee is considering is a proposal to raise the current 49% limit of condo freehold by foreigners. Related areas include facilitating visa arrangements for the "Long Stay and Second Home" markets.

Joining Mr. Patima on the committee are representatives from American Chamber of Commerce, Australian- Thai Chamber of Commerce, British Chamber of Commerce, India-Thai Chamber of Commerce, Malaysia Thai Chamber of Commerce, Thai Russian Chamber of Commerce, Thai-South Africa and Thai-Swedish Chamber of Commerce.