Reduction of property transfer fees and mortgage fees to promote home ownership extended for another year
HLB Thailand
Two ministerial regulations have come into effect to extend lower registration and transfer fees for the transfer and mortgage of real estate for another year, for both new and second-hand residential properties with a value not exceeding 3 million baht.
The initiative is intended to support and ease the burden on individuals seeking to own homes in the year 2024. Both ministerial regulations are effective until December 31, 2024.
The transfer registration fee is reduced to 1% on the sale of condominiums, residential and commercial buildings, including detached houses, twin houses, townhouses, commercial buildings, or land with residential or commercial buildings, if the purchaser is a Thai citizen and the sales price and official appraised price does not exceed Baht 3 million.
In the case of a mortgage not exceeding Baht 3 million registered in respect of such transfer, the registration fee is reduced to 0.01%.
