Few proposed reforms have generated as much sustained interest among foreign property investors in Thailand as the ongoing effort to extend maximum leasehold terms from the current 30 years to a transformative 99 years. The initiative, championed at the highest levels of government as a bold economic move to attract foreign investment and skilled professionals, has moved through multiple phases of political momentum and hesitation. For anyone considering property investment in Thailand, understanding both the promise of this reform and its current uncertain status is essential to making informed decisions in the present market.
The proposed amendments to the Rights Over Leasehold Asset Act represent what officials have described as one of the boldest shifts in Thailand’s land and investment policy in decades. The core of the reform is straightforward: extending the maximum leasehold period for property assets from 30 to 99 years, bringing Thailand into closer alignment with international norms. Former Prime Minister Srettha Thavisin, who championed the initiative during his tenure, noted that 99-year leases are already common in many countries, with the United Kingdom even supporting leases of up to 999 years.
The Case for Reform
The economic rationale behind the 99-year leasehold proposal is compelling and multifaceted. Proponents argue the extension would significantly boost investor confidence, addressing a persistent limitation that has historically discouraged serious long-term foreign investment in Thai property. Under the current framework, the 30-year maximum creates genuine challenges for buyers contemplating substantial property investments, particularly for landed properties like villas where the value proposition weakens considerably on shorter tenure terms.
The reform’s supporters, including former Prime Minister Thaksin Shinawatra who strongly endorsed the policy, frame it as a cornerstone for building a new economic ecosystem capable of weathering global economic headwinds. The anticipated benefits operate through several channels. Longer lease terms would unlock significant foreign investment into real estate, hospitality, and infrastructure. Enhanced financing becomes possible, as Thai and international banks are typically more willing to lend against leaseholds with extended terms, potentially making property more accessible to buyers seeking mortgage options rather than relying entirely on cash purchases.
For families and retirees, extended leases would dramatically simplify inheritance planning and estate arrangements. A 99-year lease with decades remaining provides a far more valuable and secure asset for heirs than a lease nearing expiry, adding a crucial dimension of legacy planning that the current 30-year framework struggles to accommodate. The reform would also position Thailand more competitively against regional rivals like Malaysia and Vietnam, which already offer longer-term tenure arrangements to foreign investors.
National Sovereignty Safeguards
Recognising the sensitivity surrounding foreign involvement in Thai land, the proposed legislation incorporates careful safeguards designed to protect national interests. Critically, the reform maintains that land ultimately reverts to the state at the end of the 99-year period, preserving the fundamental principle that land ownership remains under Thai sovereignty. This structure grants foreign lessees usage rights that nearly mirror freehold ownership in practical terms while ensuring the underlying land remains Thai.
The framework, structured around the Right-Based Property concept established under the Right-Based Property Act B.E. 2562 (2019), introduces distinct legal characteristics. Unlike traditional leases limited to contractual rights between parties, right-based property can be transferred, inherited, or used as collateral for debt. Agricultural land is explicitly excluded from the programme to protect food security and rural livelihoods, and any property encumbered by mortgages requires consent from relevant parties before entering the scheme.
The government has also positioned the reform as a tool for addressing Thailand’s demographic challenges. With the population projected to decline substantially over coming decades, the law seeks to attract high-skilled foreign workers whose long-term residency the extended lease terms would encourage, feeding into the broader goal of establishing Thailand as a global talent hub.
The Reality of Current Status
Despite the compelling case and high-level political championing, prospective buyers must understand a crucial reality: as of mid-2026, the 99-year leasehold reform remains unenacted. The proposal has experienced a genuinely turbulent legislative journey, advancing and stalling multiple times through changing political circumstances. In September 2025, a new government indicated it would not pursue the 99-year leasehold plan, focusing instead on more immediately implementable measures like land and building tax reductions.
The current position confirms that the 99-year leasehold proposal remains a proposal rather than law. The 30-year maximum still applies, and Supreme Court Decision 4655/2566, a 2023 ruling, that invalidated "30+30+30" stacked renewal structures reinforced the strict interpretation of the existing limit. This means that any marketing of properties on 60, 90, or 99-year terms should be treated with considerable caution until the reform actually appears in the Royal Gazette as enacted law.
Recent analysis suggests the policy conversation may even be moving in a more cautious direction. A June 2026 editorial in The Nation argued that any future changes to foreign property rules should come bundled with tighter, more transparent enforcement rather than looser rules alone. This perspective reflects genuine political tensions surrounding foreign land access that have repeatedly complicated the reform’s progress.
What This Means for Buyers Today
For property investors evaluating Thai opportunities in the present market, the sensible approach is to make decisions based on current law while remaining aware of the reform’s potential. The 30-year registered leasehold remains a genuine, enforceable right that provides real security for its term. For many property investments, particularly condominiums where foreign freehold ownership within the 49% quota provides the clearest title security available, the leasehold reform’s status changes nothing about sound investment fundamentals.
For landed property investments where leasehold structures become necessary, buyers should structure transactions based on the current 30-year framework while ensuring any renewal provisions are understood as contractual rather than statutorily guaranteed. The DanSiam Property team works with qualified legal professionals to ensure all property transactions comply fully with current regulations, providing the foundation for secure ownership regardless of how the leasehold reform ultimately develops.
Prospective buyers should also recognise that even if the 99-year reform eventually passes, transitional provisions and implementation details would determine how existing and new leases are affected. Rather than delaying sound investment decisions in anticipation of uncertain future reform, buyers benefit from acting on current opportunities while positioning to benefit from any beneficial changes that materialise.
The reform’s persistent presence on the political agenda, despite its stop-start progress, suggests that some form of leasehold extension may eventually be enacted. When and in what form remains genuinely uncertain, making it prudent to treat the 99-year leasehold as a potential future enhancement to Thailand’s property investment landscape rather than a current reality upon which to base investment timing.
Conclusion
Thailand’s proposed 99-year leasehold reform represents a genuinely transformative potential change to the country’s property investment framework, promising enhanced investor confidence, improved financing access, and simplified inheritance planning. However, the reform’s turbulent legislative history and current unenacted status demand that buyers approach it with realistic expectations. Until the change appears in the Royal Gazette as enacted law, the 30-year maximum remains firmly in place, and sound investment decisions should rest on current legal realities rather than anticipated reform. For investors working with qualified legal guidance, Thailand’s property market offers compelling opportunities through established legal channels—condominium freehold, registered leaseholds, and appropriate structures—that deliver genuine value regardless of the 99-year reform’s ultimate fate.
