Thai government enforcement against illegal foreign property holdings through nominee companies is dampening Chachoengsao real estate market sentiment. Authorities discovered 5,277 entities (mostly foreign-invested) holding properties beyond the legal 49% threshold. A 100-unit sales drop is expected across 5 high-demand zones near international schools, primarily due to foreign buyer hesitation following stricter controls and BOI incentive changes implemented in late 2024. Property associations warn this could trigger industry restructuring toward long-term leasing models.