Condo and villa property boom might be coming to an end in Thailand.

The Commerce Minister announced on Friday that his ministry will be reviewing all land sales to foreigners to insure they are above the board, i.e. the sales are not in violation of the Land Act which forbids any foreigner from owning land.

The focus of these investigation on Phuket and Koh Samui sales has sent a chill through the realty market, when the minister stated bluntly, “If investors cannot observe the laws, then we won’t care about them.”

Friendly environment to consider investment?

Sort of like Idi Amin tossing the Indians out of Uganda.

Predictions?

Total collapse of the real estate market, change from 51% share holding companies to leasing-holding contracts or another circumvention of the rules, no change at all or complete panic.

Blogs blot Thai Visa forum saying that farangs are contemplating a move to Cambodia, Vietnam, the Phillippines, or Malaysia because of Thais’ racist policies toward out-lanaders, however the Thais are more zenotrophic than farang-hating.

Thai Rak Thai, right, but as an American I’m inured to anti-Americanism.

I’ve heard YANQUI GO HOME in Mexico, Indonesia, France, and the East Village. Cut bait and run. Naw. Just lay back and wait out the change although renting sounds better every day, then again the Commerce Ministry will have to hire hundreds of accountants to check ten of thousands of contracts in addition to those searching for any malfeasance from the previous regime. It’s one thing to declare a law.

It’s quite another to enforce the law.

We don’t need no stinking helmets.