Australia Imposes Two-Year Ban on Foreign Buyers Purchasing Existing Homes Amid Housing Crisis

Australia Imposes Two-Year Ban on Foreign Buyers Purchasing Existing Homes Amid Housing Crisis

In response to a growing housing shortage, Australia has announced a two-year ban on foreign investors purchasing existing homes. The policy, set to take effect immediately, aims to address the country’s housing crunch by prioritizing local buyers and renters. The ban will remain in place until at least 2025, with the government hoping to stabilize the housing market and make homes more affordable for Australian residents.

 

 

The decision comes as Australia faces increasing pressure from rising property prices and a lack of available housing. By restricting foreign investment in existing properties, the government hopes to free up more homes for locals while encouraging foreign buyers to invest in new developments instead. This move is part of a broader strategy to boost housing supply and support the construction of new homes.

 

 

While the ban may impact foreign investors looking to purchase second homes or investment properties in Australia, it does not apply to new construction projects. Foreign buyers are still welcome to invest in off-plan properties or newly built homes, which aligns with the government’s goal of increasing housing stock.

 

 

This policy reflects a growing trend among countries to regulate foreign investment in real estate to address domestic housing challenges. For those considering overseas property investments, it’s essential to stay informed about changing regulations and market conditions in your target country.

 

 

Australia’s decision highlights the importance of understanding local real estate laws and market dynamics before making an international property purchase. As always, consulting with local real estate experts and legal advisors is crucial to navigating these complexities successfully.

 

Source: Reuters

PM Directs Acceleration of High-Speed Rail and Land Bridge Projects

PM Directs Acceleration of High-Speed Rail and Land Bridge Projects

Prime Minister Paetongtarn Shinawatra has instructed relevant ministries to expedite the high-speed rail project, as China prioritizes its completion to reduce transportation costs. Additionally, a task force has been urged to fast-track the feasibility study for the Land Bridge project.

 

Speaking on a special episode of Thailand’s Opportunity with Prime Minister Paetongtarn on February 16, 2025, the Prime Minister reflected on her official visit to China, which marked the 50th anniversary of Thai-Chinese diplomatic relations. The program aired nationwide on the National Broadcasting Services of Thailand and Public Relations Department radio networks.

 

During her visit from February 5-8, 2025, she engaged in high-level discussions with Chinese President Xi Jinping, National People’s Congress Chairman Zhao Leji, and Premier Li Qiang. This rare opportunity to meet all three leaders underscores China’s strong commitment to its partnership with Thailand.

 

Key discussions included the potential transfer of two giant pandas to Thailand and strategies to boost Chinese tourism. The Prime Minister reassured visitors of their safety, highlighting stricter enforcement against cybercrime and enhanced collaboration on “soft power” initiatives.

 

Regarding infrastructure development, she emphasized the ongoing construction of Phases 1 and 2 of Thailand’s high-speed rail system. Once completed, this network will enhance regional connectivity between China, Laos, and Thailand, facilitating more efficient logistics, lowering transportation costs, and creating opportunities for Thai SMEs and farmers. Given China’s strong interest in the project, Thailand has been urged to accelerate its implementation.

 

Similarly, China has expressed keen interest in Thailand’s Land Bridge project, which aims to develop deep-sea ports in Chumphon and Ranong and establish a direct transport corridor between them. Recognizing the project’s potential economic and logistical benefits, China has requested a feasibility study. In response, the Thai government has directed a research team to provide further details and explore potential Chinese investment.

 

“The Land Bridge will shorten export transit times by four days, reduce business costs by 15%, and lower fuel consumption, ultimately making products more affordable for consumers. Additionally, it aligns with Thailand’s green energy initiatives, promoting sustainability while positioning the country as a key logistics hub that generates employment and enhances trade opportunities,” Prime Minister Paetongtarn stated.

 

On trade and investment, the Prime Minister invited Xiaomi to establish an electric vehicle (EV) manufacturing plant in Thailand, citing the country’s strategic role in ASEAN and its attractiveness as a foreign investment destination.

 

The visit also facilitated discussions on cybersecurity and transnational crime. The Chinese President commended Thailand’s crackdown on call-center scams and agreed to establish two joint task forces to strengthen cybercrime prevention.

 

“China is willing to provide further support but has requested two dedicated teams for swift action. Our foreign minister will oversee their collaboration to ensure immediate and effective resolutions,” Paetongtarn noted.

 

The Prime Minister concluded by emphasizing the visit’s tangible benefits for Thailand, particularly in security and crime prevention. The strengthened bilateral cooperation is expected to lead to a significant reduction in transnational criminal activities.

 

During the trip, Thailand and China signed 14 Memorandums of Understanding (MOUs), attracting considerable attention from Chinese media. These agreements cover data-sharing, cybersecurity measures against online scams, and joint development initiatives, with further collaboration opportunities on the horizon.

 

Additionally, the Prime Minister attended the opening ceremony of the 9th Asian Winter Games, where she cheered for Thai athletes and congratulated Paul Henri Vieuxtemps on securing Thailand’s first bronze medal in Freestyle Skiing.

 

Source: The Nation

 

Yours sincerely,

The editorial team at Invest Bangkok Property

‘Fahsai’ Demonstrates Effectiveness in Combating Air Pollution

‘Fahsai’ Demonstrates Effectiveness in Combating Air Pollution

The Research & Innovation for Sustainability Centre (RISC), under Thai property developer Magnolia Quality Development Corporation (MQDC), has introduced an advanced air purification tower designed to tackle PM2.5 pollution on an urban scale.

 

Known as “Fahsai,” the tower utilizes high-speed blades to draw in air, employing jet venturi scrubber technology to effectively filter dust and water droplets. This system can purify up to 120,000 cubic meters of air per hour, according to Singh Intrachooto, Chief Adviser at RISC.

 

The installation of Fahsai in key locations, including True Digital Park in Bangkok’s Phra Khanong district and the University of Phayao, has resulted in a 50% and 40% reduction in air pollution, respectively.

 

To expand its reach, RISC has appointed Dee Supreme as the official distributor of Fahsai. Several organizations have already placed orders, including the National Science Museum Thailand, which is set to install the system this month.

 

PM2.5 refers to fine particulate matter with a diameter of 2.5 micrometers or smaller, which can infiltrate the lungs and bloodstream, posing serious health risks such as respiratory and cardiovascular diseases. Major sources of PM2.5 pollution include vehicle emissions, industrial activities, forest fires, and agricultural burning.

 

Additionally, a more compact version, “Fahsai Mini,” has been deployed at MQDC headquarters within the DTGO Campus in Samut Prakan’s Bang Phli district. While smaller in size, Fahsai Mini can still purify up to 60,000 cubic meters of air per hour, covering an area of approximately 12,000 square meters—equivalent to a large football field.

 

With these innovations, RISC continues to drive sustainable solutions for improving air quality and mitigating urban pollution.

 

Source: The Nation

 

Yours sincerely,

The editorial team at Invest Bangkok Property

Cabinet Approves Second Phase of Thai-Chinese High-Speed Rail Project

Cabinet Approves Second Phase of Thai-Chinese High-Speed Rail Project

Thailand is advancing its high-speed rail infrastructure, with the Cabinet approving the second phase of the Thai-Chinese high-speed train project. This expansion, valued at 341.35 billion baht, aims to enhance connectivity with Laos and China, paving the way for significant foreign investments.

 

Government spokesperson Jirayu Houngsub announced that the approval was granted during a Cabinet meeting chaired by Prime Minister Paetongtarn Shinawatra, just ahead of her official visit to China from Wednesday to Saturday. In addition to endorsing the railway project, the prime minister directed relevant ministries to expedite initiatives that facilitate Chinese investment and tourism.

 

The second phase of the high-speed rail line will extend from Nakhon Ratchasima to Nong Khai, which borders Laos. The Transport Ministry has been tasked with closely overseeing its implementation. Transport Minister Suriya Jungrungreangkit informed the Cabinet that the project will span 357.12 kilometers, with construction expected to commence this year and operations projected to begin in 2031. This railway will seamlessly link with the China-Laos high-speed rail network, further strengthening regional connectivity.

 

During her visit to China, Prime Minister Paetongtarn has instructed ministers to enhance bilateral economic, trade, and investment relations, with a focus on fostering long-term partnerships. She specifically emphasized the need to prioritize green and digital industries, including electric vehicle manufacturing, semiconductor production, and the development of data centers.

 

Additionally, the prime minister directed the Agriculture and Commerce Ministries to ensure that Thai food and agricultural exports meet China’s stringent safety standards. To attract further investment from China, she also urged the Transport Ministry to accelerate the development of the southern land bridge project.

 

Source: The Nation

 

Yours sincerely,

The editorial team at Invest Bangkok Property

High Demand for Condominiums Near Chulalongkorn University, Property Portal Reports

High Demand for Condominiums Near Chulalongkorn University, Property Portal Reports

Condominiums near Chulalongkorn University (CU) are the most sought-after for both purchase and rental, driven by strong demand for prime locations near top universities and convenient access to public transportation.

 

According to a report published on Monday by DDproperty, one of Thailand’s leading property platforms, condominiums surrounding CU are in the highest demand among buyers and tenants.

 

The platform’s data further revealed that Srinakharinwirot University ranked second in popularity among those searching for nearby condominiums.

 

DDproperty emphasized that areas surrounding Bangkok’s top universities have become key investment locations for property developers, given their strong appeal to prospective buyers. The availability of electric train routes enhances accessibility, making these areas even more attractive for residents.

 

Additionally, the portal referenced data from the Agency for Real Estate Affairs Co., Ltd, which indicated that as of the end of 2024, land prices in key university zones, including Siam Square, Chidlom, and Ploenchit, had surged to as high as 3.75 million baht per square wah (approximately 1.5 billion baht per rai).

 

Top Universities in Bangkok for Condo Purchases:

  1. Chulalongkorn University
  2. Srinakharinwirot University
  3. University of the Thai Chamber of Commerce
  4. Sripatum University
  5. King Mongkut’s University of Technology Thonburi

 

Top Universities and International Schools in Bangkok for Condo Rentals:

  1. Chulalongkorn University
  2. Srinakharinwirot University
  3. Sripatum University
  4. Thammasat University (Tha Phra Chan Campus)
  5. Bangkok Prep International School
12 Million Register for Housing Program “Home for Thais” in Bangkok

12 Million Register for Housing Program “Home for Thais” in Bangkok

Bangkok’s real estate market has been buzzing with excitement following the launch of the Thai government’s ambitious “Home for Thais” program, aimed at making homeownership more accessible for low-income citizens and fresh graduates. The program has sparked unprecedented interest, with over 12 million people attempting to register online within hours of its opening. The overwhelming demand even caused the official website to crash shortly after registration began.

 

 

Affordable Housing with Monthly Payments as Low as ฿4,000

The program, inaugurated by Prime Minister Paetongtarn Shinawatra at an exhibition in Krung Thep Aphiwat Central Terminal, offers affordable condominiums and houses at payments starting from just ฿4,000 per month. For many, this initiative represents a long-awaited opportunity to secure a home, especially given that nearly 6 million households—approximately 27% of Thailand’s population—currently lack proper housing.

The exhibition, running until January 31, showcases model homes, drawing crowds as early as 5 a.m. Attendees eager to register expressed optimism about the initiative, which allows buyers to purchase homes on state land with leaseholds lasting up to 99 years.

 

 

Where Are These Affordable Homes Located?

Four key locations have been identified for the pilot phase, all conveniently located near mass transit systems:

  • Bang Sue Km 11: Featuring 1,232 condominium units priced from ฿1.76 million for 30 sqm to ฿3 million for 50 sqm.
  • Thon Buri: Offering 2,100 condominium units.
  • Chiang Rak: Planned to deliver 1,795 units.
  • Chiang Mai: Focused on single houses with 720 units available.

The State Railway of Thailand has earmarked over 38,000 rai of unused land nationwide for the program, with initial plots for these developments expected to be handed over by the end of the year.

 

 

Who Can Apply?

The program comes with specific eligibility requirements:

  • Applicants must be Thai nationals of legal age.
  • They must have never owned a residence before.
  • Monthly income must not exceed ฿50,000.
  • Applicants must not be blacklisted by the National Credit Bureau.

The absence of a down payment requirement makes this program even more appealing, removing one of the biggest barriers to homeownership.

 

 

Transforming Housing in Thailand

Speaking at the launch, Prime Minister Paetongtarn emphasised that the initiative is part of the government’s broader strategy to improve the quality of life for Thai families by addressing the housing gap. The collaboration between the Ministries of Transport and Finance has been instrumental in bringing this vision to life.

 

For those interested in condominiums in Bangkok, the “Home for Thais” program is a game-changer. Not only does it provide an affordable way to step into the property market, but it also ensures the convenience of living near transit hubs—a significant advantage in the bustling capital city.

 

If you’re keen to learn more or explore your eligibility, visiting the exhibition or keeping an eye on further developments could be your first step toward owning a dream home in Bangkok.

 

 

Source: Bangkok Post

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