Good news for property buyers
The cabinet has on October 13, 2015, approved significant tax incentives related to the property sector. The property transfer fees were reduced from 2% to 0.01% and the mortgage fee from 1% to 0.01%. The purpose is to support low-income earners who would like to buy homes priced below 3 million baht. The reductions will take effect this month for both new and second-hand homes. However, the effective date of this property measure is only on October 29, 2015 to April 28, 2016.
Meanwhile, Government Housing Bank (GHB) will provide 10 billion baht in mortgage loans for low-income borrowers until the end of next year.
Please find more information about this news from the following link: http://www.bangkokpost.com/news/general/728176/cabinet-approves-tax-fee-cuts-for-home-buyers
Fabian Doppler
Fabian is a founding partner of FRANK Legal & Tax. He focuses his practice on corporate / commercial and real estate law, as well as litigation. He is admitted to the Bar of Stuttgart, where he actively practiced law before coming to Thailand in 2005.
