Cabinet Approves Extension of Real Estate Stimulus Measures for Another Year: The measure reduces transfer and mortgage registration fees to 0.01% until June 30, 2027. Buying a house or condo under 7 million baht can save hundreds of thousands of baht!
The Cabinet approved extending the real estate stimulus measures for another full year, reinforcing the reduction of transfer and mortgage registration fees to only 0.01% (from the normal rates of 2% for transfers and 1% for mortgages). This will remain in effect until June 30, 2027.
This measure covers single-family homes, townhouses, commercial buildings, and condominiums, both new and resale. The key conditions are that the purchase price and assessed value must not exceed 7 million baht, and the mortgage amount must not exceed 7 million baht per contract. The government anticipates this will stimulate real estate sales by over 540 billion baht per year and boost GDP growth.
To illustrate, if you buy a house or condo priced at 7 million baht and take out a full loan… Normally, transfer and mortgage fees combined would amount to up to 210,000 baht. However, under this measure, the actual cost will be only approximately 1,400 baht! This saves you over 208,000 baht, which can be used for home renovations or furniture.
Thais abroad rejoice! A golden opportunity for those far from home who want to own property in Thailand.
This news is bringing smiles to the faces of Thais living overseas who are saving up or planning to return to Thailand to buy a house or condo, whether for future residence or for their family.
Thais overseas who applied for loans from abroad to transfer ownership of properties valued at no more than 7 million baht within the specified period are fully eligible for this cost reduction. Combined with the Bank of Thailand’s relaxed LTV (Loan-to-Value) criteria, the dream of owning their first or second home in their homeland has become easier and more worthwhile than ever before.
Interested in applying or need more information?
Line: @Sungateway https://lin.ee/CFX3fYx
Tel: +66-2-231-6800
Website: www.amazingthaiproperty.com
