Thailand Fast-Tracks Bill to Extend Leasehold Terms to 99 Years

The Thai government is accelerating efforts to overhaul property law, pushing forward amendments to the Rights Over Leasehold Asset Act that would extend maximum lease terms from the current 30 years to 99 years.

Officials say the reform aims to stimulate economic growth, attract foreign investment, and draw high-net-worth individuals and skilled professionals to settle in Thailand. The legislation is currently in public consultation before being presented to the Cabinet, with parliament expected to vote on it in 2025.

The initiative first gained traction under former Prime Minister Srettha Thavisin and has gathered momentum under the current administration of Prime Minister Paetongtarn Shinawatra, particularly after a recent Cabinet reshuffle placed the Interior Ministry under Pheu Thai Party control. The Interior Ministry is now spearheading the draft, with the Finance Ministry overseeing its economic impact.

Government officials emphasize that the extension does not equate to a “sell-off of the nation.” Leased property would still revert to state ownership after the 99-year term expires. Agricultural land will remain excluded from the reform, ensuring farmland protection.

Fast-Tracked Legislative Path
The government is pushing for the bill to move swiftly through parliament, with expectations it could be enacted into law by 2025—possibly within months of submission. The legislative timeline is set to follow an accelerated process:

• Bill submission to House Speaker: within 14 days

• First reading in the House: 1–3 days

• Extraordinary Committee review: 30–60 days

• Second and third readings: 2 days

• Senate consideration: up to 60 days

• Royal Assent and publication in Royal Gazette: within 50 days

Investor Confidence and Economic Impact
Supporters argue the extension will boost investor confidence and pave the way for large-scale projects in real estate, infrastructure, and renewable energy. Former Prime Minister Thaksin Shinawatra has also endorsed the policy, noting that 99-year leaseholds could unlock new investment opportunities and help build a more resilient economic ecosystem.

If enacted, the reform would represent one of the most significant changes to Thailand’s property framework in decades, positioning the country as one of Asia’s most attractive destinations for long-term investment.