The Thai government has recently approved a number of economic measures with the hope of boosting Thailand’s property market. The cuts in fees and taxes is meant to help low-income citizens secure mortgages, but also has benefits for anyone buying and selling property in Thailand.
The incentives started in mid-October and will be applicable until April 2016. These measures include a reduction in the housing transfer fee from 2% to 0.01%, and reducing mortgage fees from 1% to 0.01%. There is another incentive planned to start in early 2016: Buyers of homes costing less than 3m ThB will be legible for a tax deduction of 20 percent of the total price.
We’ll see what effect these measures have and how they impact property sales in Thailand, one observations so far is that the regional land departments have become very busy, so there are signs that the property market is on an upturn!