Transfer, mortgage fees to stay at 0.01% until Dec 31
Property transfer and mortgage fees will remain at 0.01 per cent until the end of 2022 for properties costing no more than 3 million baht.
The government had lowered transfer fees from 2 per cent to 0.01 per cent and mortgage fees from 1 per cent to 0.01 per cent in 2019 in a bid to support the real-estate sector. The subsidy was to be offered until December 31, 2021.
“The Cabinet earlier this month agreed to extend the campaign until December 31, 2022, as part of the government’s economic stimulus plan,” Nisit Chansomwong, director-general of Department of Lands, said on Tuesday.
The subsidy covers houses, condominiums or land with an estimated value of no more than 3 million baht. The subsidy applies to both new and second-hand property, but can only be used by Thai nationals.
“The department believes this campaign will help Thais get their own property more easily and will also promote the property sector as well as other related industries that have been suffering from the fallout of Covid-19,” Nisit said.