The government of Thailand has just approved several measures in the hope of giving a boost to Thailand’s property market. These are in the form of cuts in fees and taxes meant to help low-income citizens obtain mortgages, but also with benefits for anyone buying or selling property in Thailand.
These incentives began in mid-October 2015 and will apply through to April 2016. The measures include a reduction in the housing transfer fee from 2% to 0.01%, and a reduction in mortgage fees from 1% to 0.01%. There is another incentive expected to start early in 2016- buyers of homes that cost less than 3,000,000 Thai Baht will be legible for a tax deduction of 20% of the total price.
It remains to be seen what effect these measures will have and how they impact property sales in Thailand, one remark we can make so far is that the regional land departments have become even busier, so there are definite signs that the property market is being boosted!