DISCUSSION
The findings of the structural equation modeling of present study found that various factors including government policies and tax incentives as well as legal and financial measures influence foreign real estate holdings. This is consistent with the research of Adelaja et al. (2010) which noted that tax incentives along with other measures will affect real estate prices which is the result of tax rates and fees associated with land and buildings. As was noted in the qualitative interviews for this study, Thailand 6.3% land office transfer fee was repeatedly mentioned by foreigners as an issue with residential ownership by whatever means