Usually, the logic behind rules barring foriegners from owning land is that since foreigners are richer than Thais, allowing them to bid for land would cause a rise in land prices. Thai voters as a result would not abe able to afford their dream house and might get angry with the govenrment.

Another fear is that of big foriegn conglomerates buying up all the rice paddy fields, evicting the farmers and turning the acreages into mechanised farms.

I'm not saying I agree with this logic, but do see it from a political angle.

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